and how it's affecting markets around the world. and is it true that the russian economy is actually stronger now than it was before the u.s. and european allies began placing things sions 6 years ago we're going to take a look at how saying sions are not only failing but have actually strengthened the russian economy it's a report you won't see anywhere else a lot to get through today so let's get started. and we begin with president trump state of the union address which as expected hit heavily on trade and the booming u.s. economy. the years of economic to k. are over the days of our country being used taking advantage of and even scorned by other nations are long behind us trying to be broken promises jobless recoveries tired platitudes and constant excuses for the depletion of american wealth power and christie. in just

3 short years we have shattered the mentality of. american decline and we have rejected the downsizing of americans yesterday we have totally rejected the downsizing we are moving forward at a pace that was unimaginable just a short time ago and we are never ever going back. and many are calling this the president's best speech ever present trouble explaining the power of the u.s. china trade agreements which face one as we've told you has been agreed to he also talked about resolving the u.s. china trade deficit which was one of his biggest campaign platforms in 2016. i also promised that i would impose tariffs to control his massive theft of america's. our strategy has worked days ago we had the groundbreaking new agreement with china

that will defend our workers protect our intellectual property bring billions and billions of dollars into our treasury and open vast new markets to products made and grown right here in the usa well no question a lot of the president has done a lot to resolve the u.s. china trade deficit in fact the decline in the deficit is about $65000000000.00 but in reality the ratio of exports to imports is going to be the same between 20182019 the president also hit on the signing of the u.s. in ca to replace now double what the president focused on the most that was the historically low unemployment numbers for so many groups of americans including african-americans hispanic americans asian americans and young americans. women reached the lowest level in almost 70 years and last year women filled 72 percent of all new jobs added a record number of young americans are now employed. or the president also tell

that the while under the obama administration more than 10000000 people were added to food stamp rolls under his administration more than 7000000 americans have come off with food stamps and 10000000 americans have come off of welfare. and now moving on to what some would say is the only metric of the trumpet ministration success is the global markets that are solidly in the green for the 2nd day in a row with the nasdaq hitting a new 52 week high as the markets digest progress in the battle against the chrono virus markets gain as such i university and the u.k. both announcing if it can break through it in the in vitro cell experiments while there are still no known effective therapies against the 200-1000 c.o.v. virus the deadly h o. interested in guilty as remedy rendez here guilty as experimental drug has not been approved by any regulators but it's currently being tested in 2270 person trial china has also applied for a national patent on the drug to treat the corona virus as it has shown early signs

of being highly effective it is not clear yet whether or not this patent will be granted as it will have to show the drug works on the virus strain in a different way than how it works with other viruses in the same category this would also significantly start bottom line going forward now finding a vaccine is now of the utmost importance as the outbreak has acted to cause the global economy up to 4 times what sars did in 2003 johnson and johnson the novak's and more drug makers are all rushing r. and d. to find a cure global equities are once again taking cues from china as a massive stimulus by the p.t.o. see underpin the rebound so the bad news is good news is still in full effect as everything now hinges on the confidence of the strength of the p.l.c. to stabilize markets leading to a risk rally around the globe so you know as we kind of have the background of the coronavirus which the president spoke a little bit about that as well last night. in the state of the union address and all that's taking place here i think it's kind of fascinating to see all these

things converging at the same time and what the president seems to tap into more than anything else and that includes for the coronavirus is ability to tap into what a lot of kind of middle americans middle class americans and middle of the country americans think about these issues for instance wanting to ban air traffic between the united states and china a lot of people are in favor of that a lot of people like that idea so he taps into a lot of these areas years these very like populous views and stuff about. very populous views of we want to strengthen america want to bolster trade trade deficits are bad he's saying this is the misnomer is that economists say that trade deficit actually aren't bad especially when you're the leading global economy you're supposed to have a trade deficit. but for most people who don't actually know what causes trade deficit or why there's a trade deficit they just believe the rhetoric i think oh trade if it's a bad it's a good thing that we know it well and it's easy to sell that idea though in terms of the trade deficits when you also talk about jobs that have moved away so trump

you mention is populism he has been a populist since he started running i don't know that he actually is one in in fact we certainly as a campaigner he this and this populism idea certainly when it comes to nafta when it comes to moving jobs out of the country that has happened for so long and people are so tired of it that now when he talks about a new deal with the e.u. when he talks about a new deal with the u.k. i mean there is a lot of confidence in him from americans who will say whether i like him or not i believe that he is going to fight for america 1st and it's that america 1st mentality that is winning over a lot of people that is debatable when you're actually shipping jobs away from high tech because so many companies and consumers are now moving to 5 g. and huawei which apparently it's banned in the united. it's not debatable in terms of facts and reality but it's not debatable in terms of perception and that's the war he wins his perception absolutely and for more on the economic virus let's bring in john quotes dean of the university of miami her business school so 1st of

all the w.h.o. now has reported that new cases have surged over the last 24 hours more cases than any single day since the entire outbreak started and nowhere near combined so yet the markets are all roaring up on the back of government stimulus so should we even care that so many businesses and industries are being disrupted what is an expected global loss of 220000000000 when the p.p.l. see itself injected 170000000000 worth into the markets. thank you kristie well yes it's true that. you have to intervene of course on monday when the circuit breakers were triggered on the shanghai index but if you look closely you'll see. a drop of around the. 81 have some 9 percent both in shanghai and in the hang saying in hong kong brings those markets into line with where they were 6 months ago so not a precipitous drop but obviously off to

a week of shut down in the market in shanghai necessary. fer coming into play into the market and obviously the p.b.'s c. was prepared to intervene as a did but let me just say that i think that we have a lot of uncertainty around the duration of this particular shock to the chinese economy if you look back at saw as you'll see that. the epidemic peaked around about 7 to 8 months after the 1st cases were reported if this follows the same patton it could of course be july before this stabilize ation restored to the chinese economy i'm a little bit more optimistic than that but frankly i'm not sure that the markets of fact today in the full down down would draw off on g.d.p.

both in china around the world economy that this particular public health crisis could result in you know one thing a slightly different though is that sars didn't have the kind of quarantines that we're seeing with the coronavirus correct. correct but at the same time the the attack rate and the and keep asian rate were also the incubation rate before shit symptoms were apparent was also different and those 2 factors also have to be taken into account we do seem to have seen the spread pretty much contained within china or and hong kong. still a little bit early to be confident about that i think i want to move on to the trumpet ministration we talked about a minute ago you might have heard some of this pointing to that trade deficit with china shrinking i could see huge when the annual deficit shrink to its smallest

since trump was elected in november the question though is is that really like in fact truly a when did the trade deficit even really matter in the 1st place or as i said before is that facts versus perception because a lot of people perceived it as being a big deal. well the trade deficit and 2019 when down 1.7 percent around about $11000000000.00 which is not even a rounding error from a global economic perspective so directionally the president can of course out the the result it was the 1st time that the deficit had gone down in 6 years so there is a bit of a political story but the same time as the deficit was closed somewhat with china it expanded substantially with mexico and with the european union so economists will of course say that the trade deficit does not

really figure prominently into economic success or economic strength but it is from a public perception point of view number that can be easily understood and therefore regularly talented for political purposes and now on trade we mentioned multiple times that pays one really didn't accomplish all that much and it's impossible quotas and no means of enforcement but that was nonetheless palleted as a win for the u.s. after an 18 month battle and that's apparently great for us ag farmers and all but now it looks like that hard fought battle was an entirely wasted effort because it looks like there's one is going to get scrap metal. even goes into back mid february so what's going to happen on the trade between china and the us now. while china are committed to purchase $200000000000.00 extra in goods and services over 2 years with the with the obvious hit to the chinese economy from the corona virus

outbreak it's quite problematic as to whether or not the chinese economy will be able to absorb those commitments and whether or not those commitments will be fulfilled remains to be seen. my guess is that the moment everyone in the central administration in china is focused on the coronavirus issue the concept of time being taken to worry about phase one or phase 2 with the united states i think that that's just not on anyone's agenda at the moment the important challenge is to get the economy and china back on track by getting this public health crisis under control i do think it's unlikely that we'll see a face to deal on to the circumstances before the end of the year i would say

though to your comment the phase one was wasted effort it was very important that the phase one discussions be held and came to fruition to stabilize the trade dialogue between china and the u.s. and prevent of the downward spiral in the relationship so one more for you here because obviously we talk about the state of the union last night and pretty much like clockwork u.s. equities rally the market let's face it it's currently in the longest bull market ever whether it's pumped up money based on central bank manipulations or overvaluation but money is money the fact is this 12 trillion dollars has been created and well that's a massive bubble which the president is kind of moving into his 2020 reelection campaign saying if he's not reelected that will pop that will go away. is trump in a position where there is some truth behind that concept that as he is one of the 1st presidents to move into a reelection cycle who has not gone into a recession it has not happened in

a long time as he is in that position does the market fear a change in leadership do they fear someone else coming in to this position and fearing that that bubble will pop if he loses. i think so and i think ed's related to in large measure deregulation i don't think anyone imagined the degree to which the rollback in prior administrations regulations in the energy sector for example but in many other areas of call most would have such a stimulative effect in terms of investment and market confidence and the fear would be of course that if someone other than the current president is elected that many of those regulations which were promulgated and removed could have order would simply come back into play again and dampen therefore enthusiasm for further

investment very likely that they would junk well it's the dean of the harvard business school at the university of miami thanks for your insight. thank you. time now for a quick break here because just on the other side in the true that the russian economy is actually stronger now than it was before the u.s. and european allies began place in thanks 6 years ago we're going to take a look at banks and how they're not only failing but they have friends in the russian economy and a report you won't see anywhere else and i think get a break here the numbers out to close.

the russian state television propaganda machine propaganda outlet propaganda tools we are in an information war. that can change the world tomorrow. we use an old you tube videos that. were structured to be a missile launchers now with the. pressure brushes russia russia and russia days. to believe that they will actually use russia to build and i really have to put drugs out there to see you've been on r.g.p. . for are so proud and. are just going through a number. why have you not shut

down our t.v. on you tube it's a propaganda machine mr walker. just almost exactly. there's no no don't you know you know. if the. last man or the most of the it would lie about who they are really would have a large. lot of people to. the world that having.

given you can. give the name now you've gone. so our d. a soon i'll also join in the nor do you need the whole. nation or. just me just a lot of. the trump administration plans to further curb technology exports to china and its flagship telecom company while away amid pushback from the defense department the administration will meet on february 28th to address how to approach while and the broader technology war with china policy makers apparently see far away the world's largest telecoms equipment maker as a serious threat to national security now this comes after the u.k.

despite the numerous campaign of protests and threats from the u.s. have allowed it to build portions of its 5 g. network the u.s. now wants to finalize new rules to limit tech exports to be called adversaries despite harming u.s. business. interests while i meanwhile is doubling down on europe to combat the growing pressure from the u.s. as it announce that it will set up manufacturing hubs in europe and lessen its dependence on the u.s. i'm using components and will also help to persuade countries to turn away from washington's pressure by investing massively into the country's production increasing workforce and advancing the ease 5 capabilities. oil was just 5 years ago that the russian economy was teetering on the brink of collapse right around the height of the annexation of crimea from ukraine you remember this it was then that western nations including the united states imposed huge economic sanctions on russia those sanctions along with the steep drop in the price of oil seemed to have russia backed into a very serious corner of fast forward to 2020 the russian economy is doing well the

$1.00 trillion dollar economy is actually better off than it's been in years and while growth is slow it is stable with a $124000000000.00 sovereign fund in place not only that but the reach of saying sions has been slowed with russian exporters finding new markets and importers being able to find domestic alternatives now what analysts are saying that if the u.s. actually wants to harm russia it should lift all saying sions immediately so how does that make sense well according to the financial times the single biggest danger to the russian economy quote would be if the us woke up one day and lifted all 'd the sentients in quote joining us now to discuss is the host of a budget which is so richard under this idea the claim is that by lifting all sanctions on russia overnight quote there would be a massive inflow of capital the currency would spike all the government's policies would be in tatter it would be a disaster again that's a quote does that theory hold water. no there's really no nice way to say it

other than all because what it presumes is that if the flood happened and there's no prospect at this point that it would but if the floods happen the russian government would sit there and not do anything that. not the way the russian economy works the government is a very powerful player and they would take all the usual steps to slow down the influx of capital to control the value of their currency so it doesn't do this very terrible scenario laid out that would only happen if the government sat there you know frozen in its tracks and let all of this play out i think the more interesting question besides the cute reversal idea in the quote you gave is the recognition that hopefully americans will pick up on that the levying of sanctions against russia against china in the old days against the south africa and so on and so on against iran they mostly don't work these are not really powerful weapons and

the reason is simple it's because it's so easy to evade them what you can't do with the united states you will find plenty of people who will buy and sell with you from china from russia but also from the so-called allies of the united states who are willing and indeed very interested to rush in so signing sions have this nasty way of boomeranging of in fact over the long run hurting your economy after you've made such a theater of how you are punishing the bad old folks if it doesn't work by the way most politicians if they have half a brain knows this so it's important to understand imposing sanctions is a political theater it's a doorway to appeal to your base to look like you're doing something the russians

took went in and took crimea and you're going to do something what in fact there's very little you can do so your play added that's really what is sanction is now here economists argue that the overall economic picture and russia is better today than it would have been with a. any thanks for that all so how has russia been able to adapt stone well to meet the pressures of the sanctions. here's the interesting thing and it's a wonderful question that you ask what sanctions do is allow a government that is getting sanctioned to point to the sanction to excuse things that could never otherwise have been possible had mr putin in russia moved to develop his economy in a variety of ways that hurt some interests which is usually what happens they would have fought back he might have been blocked but under the threat of the sanctions under the suffering of the sanctions you have a kind of unifying of the country around this assault on the country as

a whole and this leads to the government being able to do things in the name of paper of fighting back against these sanctions remember in in russia those sanctions looked to be very unfair very selective they took a little piece of ukraine they had a plebiscite where the people voted to do this they look at the united states you invaded afghanistan you invaded iraq nobody sanction what why are we being picked out by the way you see the same thing in china you hear the trade war the tariffs unifying the chinese allowing the chinese government to do things that would have been much harder to do without the excuse that we have to deal with a trade war in russia we have to deal with this site so we have about 30 seconds left but i've long argued that sanctions are ineffective for the reasons you're stating here right that they themselves are an act of war the ultimately do not harm governments they do harm people does this case with russia demonstrate the

lack of success from sanction policies of the u.s. in the e.u. and is russia now kind of have a certain blueprint for other nations i mean this is kind of the point of the brics nations right brazil russia india china south africa to get around the u.s. about 30 seconds. absolutely that's one of the long term costs of the trumpet ministration you make tariff war on the world you're teaching the world don't rely on the united states don't assume any relationship with the united states is safe build relationships with countries that are not behaving like mr trump in europe in africa in latin america absolutely the long run costs of this trump experiment are going to be with us and the burden for the whole country for years to come yet the long term effects of trump obama bush clinton presidential of author of understanding socialism thank you for your time. and as we reported tesla has been on a massive run up 112 percent since the start of the year as of tuesday's close as

a short just keep on getting squeezed like pinballs as 3 analytics reported a loss of $8300000000.00 mark to market in 2020 as bears got trampled and one by one gave up their position feel much got $16000000.00 richer as he owes 100 percent of the company but as we approach a $1000.00 valuation are getting lofty as it seems like the tide might actually start to turn and it did when the slightest hint of bad news started to tip the scale shanghai's has a gigafactory reported that model 3 deliveries will be delayed due to the coronavirus traders have now started to puke up shares all day long thinking tesla down more than 18 percent today and wiping off 30 $1000000000.00 from its market cap now some analysts are questioning the unsustainable rise of tesla and how it relates to the bonus scheme that awards a one must $350000000.00 if the company achieves a market cap of a $100000000000.00 over a sustained period of time the company is now currently worth $130000000000.00 after its recent run up now 11 musk is incentivized with

a $2300000000.00 compensation package over a 10 year period on the condition that tesla achieves a market capitalization of 650000000000 it certainly is motivation to keep the chatter and the pump on the stock alive and just as traders turn their backs on tesla today musk pops in on twitter wednesday to tease the possibility of a gigafactory in texas so this is news or is this just another way to problem the stock pop in like open. for this time you can catch boom bust on demand on the brand new portable t.v. app available smartphones to google play and the apple app store by searching for ability or a stream of to your t.v. by downloading the portable t.v. app on apple t.v. an online at mobile dot t.v. marvel t v will be available on more devices very soon see about your next. join me every thursday on the all excitement and i'll be speaking to get

a feel of the world of politics or business i'm show business i'll see you then. china chose to go build their economy in such a way as that spawned the crisis on the crawl of virus and for that there is an economic model to and the u.s. could inherit a benefit of that economic benefit a similarly the us build its economy in ways that cause other kind of extra analogies that are highly detrimental to the u.s. economy. thinking of getting a new book on the ones we got a shot from rome was as he didn't know until he was trapped in this tiny little wired coach we're going to need a crate with him he will stir reaching out and she will want to spray him anywhere near and thousands of breeding dogs that caged in the in human conditions on puppy

farm i mean 67 years you know they've 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. to get what you. get through kids. across the u.s. cruel puppy mills are supported by dog shows and pet stores most of the puppies are coming from these large scale factory farming kind of operations are being sold in stores even joined a group businesses are involved like agoa mom son to there has been a shocking amount of the organizing opposition to adverts to increase the standards of care for dogs bred in commercial breeding for so many most of that opposition is coming from huge agricultural groups and industries that have nothing to do with jobs don't.

and a major blow 1 to democrats the u.s. senate finds donald trump not guilty on abuse of power and obstruction of congress charges. donald trump and he is hereby acquitted of the charges our republican colleagues have rejected. for the fair trial. truth's. says the u.s. election primary start twitter follows you're trying to change policy on altering videos and images of them they've wording of the new rules sparks freedom of speech concerns. and.