Transcripts For RT The News With Rick Sanchez 20240713

By this because heres what were learning today today new report fresh off the press right so grocery prices are increasing and i mean in a big way theyre showing their biggest monthly increase in nearly 50 years last month this is according to the bureau of labor statistics in the United States government biggest jump meat and eggs are now paying 4. 3 percent more for meat megs all in one month by the way imagine how much higher it could still get by the way you going to be paying 1. 5 percent more for fruit and vegetables and 2. 9 percent more for cereals and breads just on average you want to talk jobs lets talk jobs new study there too this comes out of Stanford University it says that of all the people who have lost their jobs in the United States so far 60 percent of those are going to get their jobs back conversely 40 percent. Are not going to get their jobs back thats a big nut right now this is based on whats happened historically during recessions and its about a month long study that they have done now lets look at the macro side to this story and by that i mean all the free money that is being thrown into the system by governments and Central Banks all over the world in the United States Interest Rates have been essentially cut to 0. Which is by the way really good for banks and really good for corporations right but maybe not so good for a family trying to save up. Now lets talk about the stimulus or the recovery money or the bailout or whatever you want to call it. Its at the point now where its almost hard to keep track of but the number the consensus the general consensus on the number thats being used for how much money has been thrown into the system as a result of what were going through somewhere around 5 trillion dollars and theres talk it could still go up based on some of the things that theyre discussing in Congress Even just today up to about 8 trillion dollars right same thing happening all over the world india just this morning announced its unveiled a new massive stimulus saw package on top of the one theyd already announced this was a 266000000000. 00 they say thats about 10 percent of their g. D. P. They call it. Economic assistance but it leaves you asking right for home right about germany another big story going on right now its taking place in germany and this is interesting because there is a constitutional dispute right now in germany where the courts are questioning the european Central Banks right right there right to simply print money as part of their q e without explaining it to german citizens who are going to be negatively affect that right for example german savers who are saying yeah we agree with this they should question that because they say theyre now going to have to pay the bank just to be able to hold their money and you have to ask yourself well is that fair right so suddenly for the 1st time were starting to see pushback against these Central Banks and by the way theres also. Theres also another looming question when it comes to this issue that may also be. Screwing over the average worker and its this what i just described when the market is flooded with money when real wages and jobs go down while the prices of goods goes up folks what youve got almost by definition this is inflation. Is that where were headed maybe even in a real big way were going to talk to some experts right here in letters rick sanchez where we believe. Its time to do news again. And heres a list of the questions we think youll be asking of our oh bailouts stimulus has fewer jobs what is it all leading to why is joe bidens name appearing on an n. S. A. List about Michael Flynn you got breaking news on that one and why are advertisers fleeing cable and network t. V. When ratings are up. Lets begin with the latest on what is developing as the 1st brewing battle between regular folks citizens and that vaulted yet magical and mysterious and to known as the Central Banks you know the people who can create money seemingly out of thin air in germany courts as i mentioned are pushing back against the central bank the European Central bank by the way in the name of citizens who they argue dont have enough of a say so lets start there shall we with our correspondent reporting from berlin here is our tease peter all over. The coronavirus pandemic is putting pressures and strains on many relationships one of those thats feeling the pain is not between brussels and when it comes to financial sharing in the eurozone. Its the european Central Banks corrode. With a need to prove it was fit for the single currencies launches to cultivate it was to. Commission it like. The recent ruling of the German Constitutional Court to put under the spotlight to the shoes of the European Union and the euro system and the European Legal system the final word in. He you know hes always spoken in luxembourg no where else with their well not quite a statement from a slip on the line gave those that will be vying for the job of german chancellor next year when angle of merkel calls it a day an opportunity to show just how tough they are mistaken from the u. Commission in particular that bar that a european law takes precedence over national law especially in such a conditional form is simply not accurate chancellor selfless and that kind of reasoning being a school helping hand to corona should rely on existing other news like the european stability mechanism the toughest fight the view its a slap in the face fine Member States like remember. That crippling austerity that was forced. To. Help us there also voices in germany including doubts of president of the book of the stagg and former finance minister. Saying perhaps this isnt the economic elite should insist on dying on this whole law given puts more that National Pride at risk may well be that the existence of the euro is now also questioned in other e. U. Member states because every national Constitutional Court can judge for itself make no bones about it eurozone economy sic going to need some serious financial help not only in a post corona world but in the immediate schultz and media as well in order to get that help in a way that suits the likes of italy and spain and in brussels im going to have to stop playing my call is bigger than your court which doesnt look likely any time soon peter all of. A fascinating story here joining us now to discuss this is former british m. P. George galloway also another george is the george show George Gavin Newsom master and extra i mean economy with a very large following by the way on social media especially on you tube and check him out. Galloway im going to begin with you youre in europe its finally happening the masses are pushing back against the all powerful central bags what do you make of the. Well this is really about germany not being prepared to shoulder disproportionate barred from the media. And of course longer term devastation caused by the coronavirus this is. It its a battle between the German Government and the Supra National European Union or thought it is its one of the good reasons for leaving the European Union to say we decided to do we need to get our the end of the year or will be left to shoulder some of the barda but the overarching point is one that im sure george will have a lot to say a boat which is how does it translate printing money giving it to banks on to main street wall street fighting the city of london fire and they are brimming over no with q. E. Money but how does that get down to those Small Traders are those Small Businessman business woman on the walk the front how does it get the housepainter as you put it back to painting houses how does it get the butcher shop staying open these are really very tricky questions if youre going to avoid not just inflation but stagflation which is a real danger here with slumping jobs disappearing and yet lots of money around it sounds like it on your side of the court there george gavin pick it up for us will you what do you make of that and by the way let me just share something with my audience one of the very 1st persons that i heard publicly talk about. Inflation and this is like 2 months ago is gamma he was the 1st one on his show to take us through what was going to happen i mean it sounds like is this what you were talking about what i was just explaining this morning that there are labor statistics put up. Yeah i did and i saw your segment just before we came on where you talk about food prices i was referring to that as well but going back to what george says i think he makes some fantastic points so how is this money supposed to get to the average joe and jane on the street and i think theres going to be a big problem with that the main reason is because the fed has kept Interest Rates artificially low at the long end of the yield curve so since the yield curve is very flat it doesnt create a big incentive for banks to lend into main street because they borrow short they lend long so theres not much of a spread there they cant make much money with Retail Banking so what do they do they look at the collateral that these people are bringing to them potential borrowers and say. And youve got the corporate bailouts youve got the stock market bailout youve got wall street being bailed out youve got the billionaires being bailed out so if youre a bank youre saying well who would i rather lend to someone on main street or would i rather lend to a billionaire or a corporation or someone has collateral in the stock market that i know the fed is going to backstop with all of this money printing so when you incentivize the Banking System and you you create this structure where they cant make money by lending to the average joe and jane but they can make a lot more money with a lot more risk or with a lot less risk excuse me by lending to these big corporations thats why the money will never get down to the people who actually need it so what happens that i mean if that continues and for how long what eventually happens to the system and what at what point can quote the terms we were using before the housepainter trying to start a Small Business finally break through. Them and while i dont yeah i dont think theyre going to get too much of a loan i think they might be able to get some sort of some form of assistance with the light u. B. I. Or helicopter money and empty whatever you want to call it the allow them to buy the staples the groceries but unfortunately then you get yourself into a situation where were reducing the amount of supply the supply of goods and services is shrinking because more businesses arent creating more jobs and if you get the supply shrinking while the same time you have more money going to those same goods and services you have an increase of inflation in that segment so what that means is you have de flay ssion in prices of things where you need credit so car loans maybe maybe homes but then the price of food the price of energy long term continues to rise what do you make of that george galloway. Well i for me helicopter money is the most effective way to give directly to jewel and jane because theyll definitely spend it theyll spend locally on local goods and Services Whats happening instead is the money is going to the banks says george hamon just brilliantly explained those banks are giving it to people whove already got plenty and or more adding to the porches seeing power going into the economy theres one caveat though that maybe george can comment on of weve got time the q. E. That weve had since 2008 has not led to inflation for strength in theory if you print money then youre going to get inflation was in a lot to both law until know how doesnt happened in practice thats why q e q e can become very addictive gammon could you do that in 20 seconds. Sure well the reason we didnt get inflation is because the only thing they printed was bankers irvs it stayed in the financial economy didnt get into the real economy so now what were talking about helicopter money is money getting into the real system circulating with the last city well the same time the amount of goods and services shrinks theres thats where you get the inflation that i think watch speech counterproductive if youre looking to try to help the average joe and jane you cant say we dont have smart people here on this newscast to bring you developments of whats going on in the world my thanks to both georges gentlemen look forward to seeing you again very soon. And there is some breaking news thats coming into us now this one having to do with the case of Michael Flynn and what some particular members of the Obama White House knew or did not know this is the news rick sanchez if youre watching our special coverage of were going to be right back. Our culture is awash in lives dominated by streams of never ending electronic hallucinations that birthed fiction until they are indistinguishable we have become the most Elusive Society on politics as a species of analyst and needless political theater politicians and the celebrities are to ruling parties are in reality one part of corporate and those who attempt to function is that breathless universe of fake news designed to push through the cruelty and exploitation of the deal that will pour up for so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche but we must. Take a live music anywhere you go plus an elegant think youre rated online a Video Library with a built in Search Engine it will slip right in your pocket to treat interacting digital our skin texture stars will toss 2. 1000 the president sticks work videos uploaded every hour so what are you waiting for blast off the course of the. How to read out turn on the t. V. On the about the world of whats happening around me i see shields on a screen in last every t. V. Because the fake news narrative steady state. May be cool and small i believe the no this is with half the power brick by brick globalism make it plain to you that in this war but i found it did work that no question. They were going back over 2 inches we got some breaking news coming in right now in the case of michael flay and a newly published report lists the people many in the Obama White House who are looking into the National Security agencys records of michael flim the record suggest that among those on the list are president obamas chief of staff and Vice President joe biden himself joining us now to discuss this story is our conservative spokesman on the c. E. O. Of american majority met brian along with our host of news news use Scottie Hughes scotty lets get started with you can you try and explain to our audience the significance of this development. When rick we told you this was coming yesterday here in the news of her change of the now did it happen do you think its i understand this shows that they were looking into Michael Flynn our intelligence agencies are looking at my concern and even months before we thought that this conversation that happened between him babson her story strictly actually happened on december 28th so they were all really the only magazine listener ben burtt 30th i want to how did it shall not just how do you agents that were asking for that matter there were politicians which raise a question in mind something such as president barack was being requested by so many and why he left president aristides the ultimate question right now need to be answered didnt bite into howards to go where the. You know actually. If youre going to do you have to be right ned what about those who are going to delineate between whatever it is they were looking for in the Obama White House and what the Justice Department or the investigators say they eventually found in other words putting it perhaps more simply yeah we were looking into it at the time didnt find anything but eventually somebody did what are you going to say if they argued. That it was a witch it was a witch hunt rick i mean come on they were targeting flour my theory has been this we all knew this was going to eventually end up in obamas west wing we know that a lot of people were involved that denied it i mean biden deny that he was in some of these meetings we now know he was lying about it he denied that he knew anything really about the flood investigation we now know he was lying about that as well my question is really what did biden know when did he know and what else is he lying about i think the thing rick thats going to be entrusting as were seeing more and more information come out about this whats going to be the next shoe to drop bar and durham are determined i think to get this investigation done before the elections in november because i think theyre operating under the assumption that trump might not be reelected so theyre operating off a 5 month timeline i think youre going to see more stuff coming out June July August and my question is if youre seeing a high ranking Obama Administration officials being indicted what is the impact on the election and whats the impact on joe biden when more and more people start to understand he was not only aware of it he was eyeball deep in it as well what do you make what you guys make of this judge emmett g. Sullivan the d. C. District here hes saying in fact that hes going to hear arguments against dismissing the case as recommended by bill barr what do you make of that either one of you please jump in you want to start. I think at some point judge sullivan is going to have 9 to finally drop this and realize i mean the d. O. J. Has dropped the case mike flay and rick the thing that people have to understand when when the government and the d. O. J. Roll against you theres really nothing you can do and they were determined to go after my client on really no charges at all and he pled guilty to save his son i mean literally they were threatening to pursue his son he pled guilty to get them off the back of his son at some point this was completely baseless on any point judge sullivan is going to have to drop this i think hes just stretching it out because for whatever reason but theres no basis for this the d. O. J. Has asked to drop this case i think is going to have to at some point scottie about 20 seconds but you get i want to give you the last one i dont. Actually know you guys are going to tie me of this why did you get 3 years and Richard Grinnell who is actually just an acting secretary right right now a lot of all of these documents were there why havent we known about this and been able to investigate the past 3 years. How many were ministration and maybe has been to get. Very big thing its charged with a willing good stuff guys i appreciate the conversation thanks so much scottie wonderful much appreciate it even though more people are stuck at home with little to do but stare at their t. V. The ratings are at a record high for just about any show you put on t. V. These days people are stuck at home advertisers are not biting partly because Many Companies dont want to spend right now because they dont have the revenues probably because sports is off the air and thats where most people put a lot of their money but also because streaming is replacing cable and network t. V. And thats why the bodies are down how much sales could be down as much as 10000000000. 00 in just the 1st half of this year the story 1st appeared in the Los Angeles Times here with more is our l. A. Correspondent natasha so. Some of the biggest advertisers for Television Networks are cutting their existing deals pepsi General Motors Dominos Pizza General Mills are just some of the Major Companies looking to take advantage of an out in their contracts as of may 1st companies have the option of canceling up to 50 percent of their 3rd quarter ad revenue spending and now ad buyers are estimating that up to 1500000000. 00 in commitments could in fact be cancelled insiders say this out if you will has always been in contracts but taking advantage of it is almost unheard of but the future of the pandemic a known owners of the Major Networks are concerned over what the future spending could look like all the revenue for long term ads are down the last minute opportunity buying when Companies Purchase ads closer to the air date is also reportedly low by a com c. B. S. Chief executive bob baucus calling Quarterly Earnings on a call this week quote not pretty amc networks caution in ad revenue could drop about 30 percent but its not to see these companies in key and categories like automotive pharmaceutical food and beverage arent spending some are taking their business elsewhere like facebook and google mexican food chain to pole is just one of many looking to shift their ad dollars into streaming videos on social media chris brandt to police chief marketing officer saying weve seen a lot of great returns with facebook and instagram cereal giant General Mills also transferring some of their t. V. Advertising investments into digital video and ecommerce well some of these Companies Set up their ad contracts with networks well in advance its certainly not business as usual during this pandemic as of right now fox is the only Major Network to release its fall lineup the future of ad spending could decline or shipped all depending on how the economy reacts to the effects from the coronavirus reporting for the news with Rick Sanchez Natasha sweets are all right to talk about sports. Joining us here. You know these things. Oh yeah theres an ad that we can report today and the ad is coming from the world of the p. G. A. Tour so golf yes world of golf were one of your favorites i know you could see i think we will get to watch it but to play it but at least its a live sport going to happen june 11th now in Fort Worth Texas with the challenges the next when theyre trying to resume now there was a 37 page memo sent out today by the p. G. A. Tour outlining the guidelines and its involves very extensive testing of course like were seeing the same blueprint as the u. F. C. For example extensive testing a very limited restricted access of course no fans and there are the 1st 4 events of the tour that theyre planning to do will have no spectators of course and there will be really tight access between even the player and caddie so lets go through some of these health and safety protocols not the whole 37 pages but i outlined a few of the key points here either way i guarantee you even before you tell me 98 percent of them are just common sense yes but make out while youre playing god thats part of it the caddy and players cannot. Make out anymore but 1st got a. Few touches each other and go very well but he really saw right off as one of the more realistic realistic ones of course but allowed to attack now aside from the players in the caddies now the p. G. A. Tour staff including the rules and scoring officials Security Limited Media Trainers coaches etc now not allowed managers agents of fame family members not allowed on the grounds at all so then well go to the Safety Equipment now this is a big one now the p. G. A. Tour will provide of course the face covers mass disinfectant wipes for all the players caddies and theyll cover the costs of the test for players nobody knows but if you call it out youre not telling me players have to wear a mask to play they have to wear a mask when they are on the course players and kidding me they are providing theyre providing it this is what ive done less weight but theyre providing it that doesnt mean its mandatory to wear them it doesnt say theyre its mandatory to wear them it didnt say it was mandatory in the memo but they said that would be providing rice covers when youre going around people who maybe you should but when youre out in the middle of the court by yourself why in the hell would you wear a mask right when the u. F. C. Was. The fighters they were going to ask the ref was not a mask but everybody else around the octagon was so you might say the same thing but with the media around the coaches trainers who i mean come on you understand my feeling is right then the p. G. A. Tour officials were not maybe not the maybe not right or well no no no no i understand im aggressive but theyre not going to say you cannot swing a golf club unless you are about maybe in the going to shot penalty right or in clubhouse Common Grounds when theyre not on the court ok but then we have a chart of chartered travels a big one now that they will be now the p. G. A. Tour providing these chartered flights from each tournament site to the next but the both those flights the required to have caddies submit viral testing and the players 24 hours prior to departure so if you test negative of course you can board but if you test positive you cannot and then how the players internet interact with the caddies this is a big one as weve talked about in the beginning now theyll still be ropes playing inside the ropes even though theres no fans there but the players and caddies will be encouraged to take part in social distancing and the players will remove the golf clubs and the balls from the hole that the caddies wont be touching at all they will only be able to tend to the flag sticks and break the bunkers and no kissing on the lips no kissing the. Players. I love you steve you tube thats our New Hampshire agreed with. You cant be both with the yeah you. Good reason Public Discourse is focused on finally containing the kobe 1000 pandemic now the focus is on devastated economy were in a recession will it morph into a depression will the recovery be a u. D. Or an elf. Papen tonio and this is americas warrior education secretary betsy devos has been sued again for collecting on Student Loans with shes been ordered to stop collecting on again davis is actually exhibited a pattern of behavior that it shows that she cant obey the rules so tonight well tell you about the latest allegations against the bows in the Education Department also while the mainstream news cycle is buzzing nonstop about quote a virus Police Brutality continues to sweep local and state Law Enforcement later in the show while millions of americans have seen their lives decimated by the pandemic and the lackluster government response more makers are found to be profiting big off stock trading prompting concerns about possible Insider Trading dont go anywhere americas war starts right now. Betsy devos and her department of education are being sued again profiling the law by collecting on Student Loans these are loans that shes been told that she cannot collect but that hasnt stopped or joining me to talk about this is fair and cousins editor of the trial lawyer magazine whats not one memo isnt she reading i mean its the law is very clear i mean it came under the chairs act right right this special law called the cares act and the cares act said while this pandemic is working its way through what all you have to do betsy is just not collect on these defaulted stude lower delinquent Student Loans just dont take money thats all you have to do for just