Largest economy later on well dig into the ruling and what issues lie ahead in the dispute with a packed show today so lets dive right in. And we lead the program with the latest warning from the Global Health officials as the world continues to deal with the latest surge in coal but 900 cases with the latest wave the World Health Organization on monday said that while reimposing Strict Lockdown measures may be needed to slow the spread of the virus these actions can be avoided if everyone does their part i think we have to. Look at that very seriously in the context of the European Union in the context of the region as a whole theres a lot of Free Movement and therefore those principles it may require and shutting down and restricting movement and having stay at home orders in order to take the heat out of this phase of the pandemic we can avoid National Lockdowns we can avoid massive restrictive movements if everyone plays their part it means individual sacrifices and in many parts of europe and in north america in particular there are many things that each of us can do the decisions that we make every day about avoiding crowded space. This is about avoiding in close settings for prolonged periods of time about postponing some of those gatherings that we may want to have and its sacrifices that we all have to make. And pharmaceutical giant pfizer says its late stage hope in 1000 vaccine trial is nearly fully enrolled the companys phase 3 trial is just 2000 volunteers shy of the 44000 needed the company said during an Earnings Call Tuesday Morning pfizer and biotechs drug is viewed as one of the worlds most promising vaccine candidates while the company had said it hoped to have data on the efficacy of the vaccine by the end of this month during the call pfizer c. E. O. Albert borlase said this of the situation in case of a conclusive read out we will inform the public as soon as we complete the necessary administrative work which we estimate to be completed within one week from the time we know so with all of this in mind lets go ahead and take another look at the trends and spread of the virus globally with r. T. Correspondent sized passenger so where are we to sit right now more than 44000000 confirmed cases globally and more than 1 point one deaths globally the us now is leading the way in the number of cases and also deaths now on monday the us reported more than 74000 new cases pushing the daily average above 71000 now thats up 22 percent compared to last week 40 percent compared to 2 weeks ago the most in any 7 days stretch since the beginning of the pandemic brant now deaths there are also up 14 percent with 534. 00 new deaths reported on monday now anticipate seeing a lot more deaths being reported in the coming days because thats tend to rise a few weeks after a rise of infections meanwhile the number of people hospitalized with over 9000 is also on a 2 month high which has been straining health care. Several states now theres also a increase in new cases surging in the midwest right now michigan wisconsin brasco there are 3 states where cases are rising very quickly meanwhile new cases in michigan have more than doubled in the last week while nebraska and wisconsin both have one of the highest rates of test positivity in the nation brant now outside of the u. S. Right now at least 7 countries 5 of them in europe have reported record highs and average daily new cases now as of tuesday 4 pm theres been at least 8700000 confirmed cases in europe with almost 260000 deaths now russia france spain italy and u. K. Theyve all registered a Record Number of infections just in the last few days now the death toll from call the 19 in the u. K. Has just hit over 61000 people that have died since the start of the pandemic its also the 6th consecutive week with a number of deaths have risen while much of the region is still under an new round of restrictions now meanwhile in russia where the 4th largest cases is just introduce a nationwide mask mandate in Public Places and as also as there are regional our thirtys to consider shutting down some Public Places like bars and restaurants overnight now in italy theres been hundreds of protesters taking to the streets to show their anger at the latest round of restrictions including early closings for bars and restaurants with some demonstrations in some cities turning very violent now in france lawmakers are warning the country to prepare for even more difficult times even after france you know they impose one of the strict this. Restrictions currently in place than anywhere in europe yet have seen the surge and cases lastly spain theyre planning on raising taxes on Large Companies and wealthy people to fund the increased spending thats needed on a social care associated with cobra 19 so as you can see World Leaders theyre facing a very difficult task of controlling the virus while really trying to keep their condom use afloat brandt and sar we just talked about pfizer but what about the other manufacturers who are in stage 3 trials so currently 4 of the u. S. Backed pharmaceutical come from are Suitable Companies theyre working on a vaccine all of them in phase 3 except for the pfizer which you mentioned theres astra zeneca and the johnson and johnson again how you mentioned earlier pfizer is that the most advanced stage right now so where theyre expected to apply for an emergency use or authorization of the food and Drug Administration next month of course that could always change as we saw some of these Companies Facing side effects of last minute so while that is all good news theres also some bad news so shaded with cool with current covert 1000 treatment the u. S. Government has just put an early end to a study testing of a lilly antibody drug for people hospitalized in 1000 because it simply doesnt seem to work and this is really a said back from one of the most promising treatments out there right now brant are 2 correspondents tabular thank you for keeping us up to date. And it looks like the prospects for another coronavirus stimulus package before the u. S. Elections next week are pretty much out the window as the senate has adjourned following the confirmation of any tony barrett to the u. S. Supreme court the move came on monday the same day u. S. Markets saw their largest single day drop since Early September so what does this lack of a relief package mean for the immediate future of our equity. In the economy lets get some expert analysis from c. E. O. Of registered bill intelligence and former fed insider danielle de martino booth and managing director of the Market Gauge Group and author of the bestselling book plant your money tree a guide to growing your wealth and Michelle Schneider thank you both for joining us today i want to start with you here now that it looks like another relief package is not going to happen before the election unless something miraculous happens here what will be the impact in the near term for the u. S. Economy and markets. Well you know its interesting and there is a new gallup poll out today that showed that american the amount of money that theyre going to be spending over the Holiday Season which is critical given that the back to School Holiday shopping season was weaker than it would have otherwise been but it showed that the amount that americans are planning to spend this Holiday Season is going to hit a 4 year low and that is obviously before gallup took that poll that survey before weve seen this latest setback in the stock market if this is to continue then theyll even be more of pressure ringback on consumption on the u. S. Economy again were talking about 20000000 some odd americans who are to continue to collect Unemployment Benefits whose whose actual take home per week if you will has really been eviscerated its a fraction of what it was prior to the 1st 2 amounts of stimulus that bolster what they what the unemployed to come on a weekly basis on top of that there is nothing that weve found since the outbreak of the current virus that is more that is more debilitating the pressures of American Consumers more than seeing case counts especially hospitalizations rise as youve been reporting during your 1st block. Obviously seems when we talk about the stimulus package we also talk about those 1200. 00 stimulus checks which have been part of the previous package and were supposed to be part of this next package and when we look at Holiday Spending obviously that is a concern when you really want to stimulate the economy put money in peoples hands and unfortunately that does not look like its going. Happen before the election and before the Holiday Season for sure michelle i want to get to you here now u. S. Equities have been mostly muted tuesday after mondays sell off the nasdaq has been able to remain positive ahead of a big earnings week for big tech and this tech has been one of the best performers amid the pandemic investor David Einhorn hes calling the Current Situation a huge tech bubble that actually popped on september 2nd 2020 in Early September but is it really the top or sentiment just really shifting from greed to complacency with tech. Well 1st of all lets just take a look at it from a technical perspective monday there was a huge range expansion in all of the indices and the nasdaq and give to kill our clothes underneath a key moving average which a lot of traders look at the 50 Day Moving Average so to answer the question whether or not we topped what makes it even more interesting is that today the price action was inside the range of yesterday so that generally spells indecision which makes a lot of sense so as far as just looking at it from a technical perspective if we break down under mondays lows lets say on wednesday we will see follow through how much follow through remains to be seen now in terms of the whole tech sector right now considering netflix reported last week and was disappointed in terms of the price action just as we were speaking microsoft reported an even though it be its basically going down from where it closed and theres no really great prospects i think for the all the facts stocks that are about to report like apple and amazon and facebook because theyre already behemoths are not that much upside so what we saw coming into this week was some kind of a rotation out of Growth Stocks anatomy tech into the you but we also have to remember given the fact that were in a cold war the were a good home situation is likely to remain for quite some time so that might actually set up opportunities not necessarily for these behemoths but maybe for some of the newer tech stocks or the stocks like for example fastly which reports tomorrow ill have you know eyes on that one. And you know i want to look at the long term able to get your crystal ball out here because if there is a change in power in washington which is possible and nothing gets done to stimulate the economy during a lame duck session between the election and when the new president and congress were to take power if the feds going to be able ready to step up in intervene further to hold off another market bleeding what are you seeing there. Well you know since you asked the Federal Reserve has some some Credit Facilities that expire on december 31st so that would be within the lame duck if there is a change of power in washington my concern is that extending these Credit Facilities that are largely untapped that has to be agreed upon to go past new years day by the treasury and the fed i do see a risk of that not occurring again if there is a change in power as you suggest if that is the case what were looking at as it is best Case Scenario thats if that if the new congress get seated and has a stimulus package ready to go on day one youre talking about money not getting to people until valentines day at the earliest 2021 and again the fed has been exceedingly pleat full in recent weeks saying we really do need more stimulus passed because the one thing that they know that does work so well is Old Fashioned i cant believe were calling it Old Fashioned at this point but Old Fashioned quantitative easing but in order for there to be a large appreciable growth in the feds Balance Sheet there has to be more treasury issuance and without more stimulus spending there isnt more treasury issuance so its a matter of the fed not having enough product out there to buy given the limited amount of treasuries that are right now in circulation so the feds tool box is extremely limited until the fiscal authorities can get their act together and get stimulus spending passed again that could not arrive until were looking at the next of the next of the next holidays valentines day show we dont like to make the show so much about politics but obviously as we. Get a president ial election coming up just a week away its going to eating up all of the headlines at this time so in your opinion and what youre seeing what are investors looking at when it comes to this election and the turnout at the end. Well it seems like the market is actually hedging for either candidate to win because we saw coming up into this we are looking more like a biden when people were buying more alternative energy selling oil and gas and there was a rotation into the small caps which would really be manufacturing given the fact that they probably would assume by train wars with china might ease up but then weve got into this week now were seeing that little bump in growth comparative to the value and we saw our oil and gas go up today so i think were going is actually generally confused at this point whats really more interesting to me though is go its going to happen if we have a republican president and a senate that goes blue or vice versa or we have a democratic president and the Senate Remains in a republican state and then we have gridlock and that would be something that would be very hard for the market to reconcile with definitely and certainly might have a negative impact to the whole market because nothing will get done but i do agree that there will be some stimulus and so it will really be a matter of whether or not its with a republican i or a democratic i what gets passed one to agree with danielle here it is absolutely necessary that something gets passed or will really become a dangerous situation and the other thing really will be to watch the sector rotation as we get past the election then i would expect volatility up until that point as were starting to see and thats why we saw a big point lets say take a huge run up in the last few days as some kind of safety play bonds have come back into play with the t o ts and gold even looks like now after being stagnated might be ready to go up so its volatile and we may not really know the answer to all of that for at least another week or 2 former fed insider. Letter of the market we could have talked about this for hours thank you both for you. Thank you thank you brant. Time now for a quick break but hang here because just on the other side following a blow from the World Trade Organization the u. S. Is looking to challenge a ruling in favor of china amid the trade war and as we go to break here the numbers at the close. To little. Italy. Not only speaking the role of the media is to inform the public this mission is now on hold large parts of the media landscape particularly big tech actively intervene to determine what the public can know and from whom has controlled speech please freedom of speach. Congo. The maternity town the slums go in and you may never get out some sort of the most of. My teenage gang rules here. No one of you to move there no let the mind of those who live below you were the worst but. Name me will be very tall. Man seeing her here it. Was. But now its looking for the yeah well the news that has to be done and melanie may not win if. You do and you know the mccain who commutes all i see. An entire village in alaska has had to if another country trying to wipe out an american town. We do everything in our power to protect. Water they escaping Climate Change poses the same threat right now alaska seems some of the fastest coastal erosion in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. It is bad and that means the river is 35. 00 closer than how. One was for i dont think were a part of america or earth from. And welcome back canadian ecommerce site shopify announced on tuesday it has entered an agreement with tic tac to give its more than 1000000 merchants the option to advertise products on the short form video app now shopify says the move allows tech doc users to click on a video ad to buy products from sellers on the ecommerce site the Company Already has similar deals with other social media sites like facebook and instagram as well as several other ecommerce businesses the new partnership will roll out in the u. S. This week before moving into europe and Southeast Asia in 2021 on the new shopify stock was up as much as 3. 8 percent on tuesday. And that the u. S. Commerce the u. S. Government has filed an appeal pushing back against a ruling by the World Trade Organization that part of the trump and ministrations tariffs on china are unlawful that the u. S. Delegation to the w t o is claiming as part of its appeal that this moment quote reflects a major missed opportunity for the deputy o. To begin to address the most serious problem faced by every member that seeks to a balanced and fair World Trading system namely aggressive state policies that seek to dominate broad industrial sectors joining just justice boom bust cohost Christine Christie i want to start with you here what robbie asli what can you explain what the deputy o. Panel originally found when it ruled against the united states. Yes of the originally thats the trauma a month ago and september i mean when the detail ruled against us and found that 234000000000. 00 worth of tariffs and posts on china back in 20092009 they breached the global trade rules so washington had not justified why the tariffs against china were a justifiable exception to its obligation and were illegitimate under moral public morals defense so right now the us in there is it sent out on the news of the 1970 s. Era u. S. Trade law to unilaterally launch its commercial conflict against china so under section 301 empower the president 11 tap tariffs and other import restrictions whenever a foreign country imposes unfair trade practices that affect u. S. Commerce china on the other hand they claim that the terrace violated the most favored treatment provision because the measures failed to provide the same treatment to all members china also led to the terrace broke a dispute settlement rule that also required countries to 1st seek recourse from the day before imposing any retaliatory measures against another country so in the end the panel of 3 declare the tests in violation of the International Laws as the us had not met its burden of proof and demonstrating that the measures were provisionally justified so basically in other words the us terrorists were illegal and it broke the very rules that it helped to put into place so as if thats i have ocracy enough the trump ministration they had previously claimed that the tears were necessary to curb beijings unfair trading practices and i. Met with the details ruling it basically undercut the main justification for trans trade war against china saying that no its actually new u. S. You are engaging in unfair trading practices and violating International Rules you know chris is actually a very interesting story because what many viewers may not know is that the Appellate Board is pretty much defunct can you explain that to them please. So the detail is that fund because the u. S. Basically decided to cripple the organization by blocking the appointments of new judges and theyve been doing this for past administrations in order to protest the way the b. T. O. Does business in other words siding with china and not agreeing with the u. S. That they are engaging an unfair trade practices so that nobody you know basically lost its ability to rule on new dispute cases and also the power to enforce rulings as of october of last year so a minimum of 3 judges is necessary in order to issue new rulings and in terms of and the terms of 2 of the last 3 judges are almost so this is a major blow to the Global Trading systems as now the situation that it creates its trading based on power and influence and of the global power to dominate rather than by any International Rules that allow for smaller emerging countries in order to have their fair say as well so countries can then use tariffs are just implemented very protectionist measures without having to worry about the prospect of sanctions if they breach these International Code of conduct so this is actually means that the w t o cannot enforce its decision on tariffs or really anything else for that matter is that correct. Yes it is essentially a dishonest and its more so just a moral highground they basically had 0 power of enforcement so the media that they were set up in 1905 in order to get country a framework for governing global trade and today its about 96 percent of those rules and the rules were to keep the trade barriers between countries very low and create some sort of someones of stability for investors so now without the courts to keep the countrys in check the train system has basically lost its impartial arbitrator so this can now splinter into more to protect spats ive seen in 2001000 between the u. S. And china so any decision now going through the disputes and system they do not have any legal force if the ela body isnt functioning this makes multilateral Trading Systems very uncertain and really reduces the credibility of. The whole and so heres the big kicker the u. S. Has by far been evil its active user of the debbie cheetos dispute Settlement System the u. S. Has lodged more than 20 percent of cases in the entire bodys history so now it seems like when the courts are no longer willing in their favor washington has now decided to construct it so china is now accusing the us of taking advantage of the current paralysis and preventing others from having any niggle so basically chinas win here has been nullified because ultimately the most of the victory can actually provide its just merely authorization to impose a challenge or a sanctions but youre china has already are tolerated but that boom bust cohost christi i thank you so much for breaking that intricate story down for us today. As the covert 1000 pandemic has just continued to wreak havoc on the Airline Industry one carrier has found an interesting way d to preserve some shops thin air has started selling its Business Class meals in a supermarket to save jobs in its Catering Department and the prohibition promotion seems to be working as they sold 1600. 00 meals within days at a store near their hub airport in health think now the 1st issue is to hit the stores were be quick terry actually radish sauce served with grilled spring onion and rice and smoked arctic char with rizzo to both going for about 15. 00 apiece now if an airplane is to offer meals at more stores in the future and will roll out new dishes including reindeer me and japanese style pork shoulder. And thats it for this time you get boom bust on demand on the brand new portable t. V. s which is available on smartphones and tablets through google play and the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer models and some smart t. V. s as well as roku devices or simply check it out at portable t. V. Well see you next time. Join the everything on the alex simon show and ill be speaking to guests of the world of politics or business im show business ill see you then. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation or community. Are you going the right way or are you being led so. Direct. What is true what is faith. In a world corrupted you need to descend. To join us in the depths. Or a maid in the shallows. In the 1920 s. And thirtys several 100 africanamericans moved to the soviet union and many of their descendants still live in russia. Looking at the post because i know no rush but us throw up our stuff yes it got chills for leadership on things on your way. Back home black americans suffered from racism and a complete lack of prospects. Not the smug the real lybia losing show them one by else a store on the by doing. So they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the African Americans who were too through during the night. Around great crowds. To moulay a dwarf you going to call you and now almost a 100 years later the history is repeating itself my great grandfather sure its time i went to russia. Probable worst time to go anywhere why not me. What in. I come here. From. Philadelphia sees a 2nd night of violent protests and after a black man was shot dead by police. On top of racial tensions at home americas look to the trade war with china shows little sign of abating we look at whether a biden presidency might change in the. Mornings of possible terror attacks in france and calls for citizens in muslim countries. Some response to rising worldwide anger over paris his battle against islam is a
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