Economy is the worst behind us fair question when will we see a downturn and why im going to divide my explanation into 3 parts and im going to you know what lets do this i want to go over to the wall so i can do this for you let me go over here so i can show you what it is that were seeing as far as some of the trends go right theres a theres a debt burden in our country right now we talked about this before its like no other ever experienced in our nations history Household Debt is above 14 trillion dollars thats how much the average american someone like yourself may owe right so let me try and break this down for you into 3 key parts that no many of you may find well relatable thats why we put this line graph up here for you and i want to start with auto debt its been going up now for about 3 straight years thats the blue line that you see right there look at that line. Look at the trajectory thats taken you know what this number represents right here that number represents 1. 35 trillion dollars now i want you to look at Student Loans thats represented by that are in july and that you see right there this important its actually going up now that ones been going up for more than 10 years and its 1. 5 trillion dollars 1. 5 trillion dollars wrap your head around that number now now lets add up the Credit Card Debt same thing taking place right now Household Debt is what were talking about its standing right now at about 1. 00 trillion dollars now just to put all of this into perspective in 2008 our entire economy had a meltdown right banks collapsed because of a mortgage debt. Of how much how much was that debt back in 2008800 1000000000 dollars thats less than any one of these right left in the student loan less than the auto less than the credit debt individually so now lets take a look at Something Else lets look at how Many Americans are not drawing an income right now according to Fortune Magazine just today numbers hot off the press that i just checked the real unemployment in america right now is probably around 16 percent thats a big nut right may go even higher for a couple reasons that we cant get into right now but lets compare that to the bust that we experienced in terms of unemployment back in 2008 at its worst absolute worst unemployment back then was around 10 percent. So what do we have ill tell you what we have. We have american saddled with record debt americans not getting an income. So then why is the economy still chugging along and why is wall street going up a lot of people happy to be asking right now it has to do with the fact that the government has been stimulating the economy the cares act so many income providing bailouts etc but you know whats an even bigger part of this explanation its a word called forbearance see that word up there forbearance heres a big nut almost 8 percent of all americans have gotten permission from their banks as mandated by the government to not pay their mortgages theyre not paying you wonder how theyre getting by theyre not having to pay their mortgage thats their biggest debt thats 800000000000 dollars 800000000000 dollars in unpaid principal. But heres the question what happens 6 months from now when that Government Program runs out and they have to either pay it back or the very least start paying again so heres what we have right now historic debt historic numbers of people with no income and forbearance that allows those folks to not pay their bills until 6 months from now when they have to do what. Suddenly pay their bills. Then what. Were going to drill down on this because we think its a very important scenario and because we like to drill down on stories like this to give you context and perspective here on the news with rick sanchez where we believe its time to do news again. Here is our list of the questions we think youll be asking them are as an economic crash an editable and if so when what does former minnesota governor Jesse Ventura think about the defunding of Police Departments. And i promise theres a new russian drug to combat coronavirus. All right so lets do this lets get right to the question of how we might or might not survive economically joining us now john grace. Of investors advantage core also a prolific speaker on the market from main street to wall street also joining us is veteran journalist ben swan who hosts boom bust right here on r t america ben i think we should start with you given what i just what i just presented at the start of this newscast which is a boom or bust. They were looking at a huge bust on its way i think youre explanation of forbearance was incredibly timely and incredibly important for people to understand because everything were going through right now is really about delayed reaction so the fed has been working to delay problems within corporations and the stock market the federal governments been doing that theyve been delaying things and so everything right now is in this kind of mode of delaying you havent had to pay your taxes because federal taxes were removed until july and so theres been this effort to delay but delaying the problem does not make the problem go away it simply sets a new timeline for that problem and so what were watching is this incredible moment where the u. S. Economy is in a recession where we have millions of people who are still out of work right now as you said theyre being told you dont have to pay your obligations right now that will come some time later and yet were watching the stock market or right now and its coming back with a vengeance but that has nothing to do with reality either thats all about the Federal Reserve pumping money and the treasury pumping money into the system and investors say oh this is great because it doesnt matter how bad things get were going to get bailed out by the most powerful forces in the country theyre going to protect investment not protect main street the question is. How long can these powerful forces in the country and our government itself continue to protect us maybe asking the question more colloquially john grace is this when does the gravy train run out and what happens then. Well we might be just about there rick and i agree your opening was fantastic it really setting the case here i mean this kind of looks like you know maybe my one of my favorite cartoon characters right y. E. E. Coyote and road runner where they were run on the surface off the cliff and then they are there in you know a lot for a few seconds and then they figure out how low they are going to go dats where i think we are right now i mean we just crossed the threshold of a recession yes to take 2 quarters that are negative weve been saying for a long time we increase the odds from 20 percent december to 80 percent in march and 100 percent in april that will be it has to be in a readers but this thing has not been on Solid Foundation for a very long period of time lets understand were all doing the same thing everybodys trying to look like their car dash it whether its a consumer whether its businesses will talk about that one or whether its governments everybodys on borrowed time we think we can just put scotch tape and duct tape but the problem will just disappear we think which in the Central Banks could just fix everything and make the problems go away life doesnt work like that the economy doesnt work like that so this may very well be the end to this because kara so when the music stops everybody has to get off when i hear people asking so what if the economy is a back and ready in 6 months we just continue the forbearance we throw more money at it and if its not ready a year after we keep doing that how long can we do that every lead even a viable workable option its not a solution so the it is an option right its an option in terms of short term how do you keep the short term going for as long as you can i love the the analogy of wiley coyote because what were hoping for is that as we run over air if we run long enough theyll be bland on the other side and well be ok thats kind of the philosophy here but the problem is is that there. The nature transfer taking place nationally right now by the way in terms of the business sector as there are a few major corporations like amazon and facebook that are doing extremely well during this time and theres a massive shift moving jobs and economy away from Small Businesses and into those corporations and that money is not going to flow back whenever we do cross the land on the other side and theres one other pitfall that we didnt even mention but id love to get you 2 gentlemen back maybe later this week and we can go after that which is the price of goods interestingly enough or all going up in america go to the Grocery Store and youll probably be able to see it for yourself stagflation oh my thanks to both of you john grace great stuff and so on as usual i look forward to seeing you guys again. Meanwhile 2 new videos have emerged we have one of them here its its an incident between a new Jersey Police officer and an africanamerican motorist and we should warn you that you might find this video disturbing its happening a few weeks ago there youre seeing a new jersey state trooper who pulls over a man for hitting the dangerous speeds of 110 miles an hour at the trooper places gordon in this police car rescored in a scuffle that ensues and lets see what happens here it is. So there you see more than a suspect before you scored. The. Tries to get out. Of. The Police Officer is going to come up to. Him right there in the back window now thats when theyre fighting a scuffle and susan ellison. Was a gun shot. Those are gun shots you just heard. And now this case is being investigated by the users prosecutors by the way this is happening on the same day that george floyd is being eulogized and hes being. Meanwhile a lot of people around the country are remembering floored with still protests including one that continues in our Nations Capital now going on at least the better part of a we go to however so actually banks is our correspondent shes following things there for us whos jacket on whats going on and she fills us about how she would go. To pay their rent so im here on 16th an 8 screen right here in downtown d. C. Not too far from out of the white house you know its a joyous occasion break im sure you can hear the music is over here there are people that are doing a line dance and just having a good time at an earlier people were handing out free food and free out water they also have their cell phones out and theyre recording messages that are on the ground that say things like say your name say his name just remembering brown exhale or a motto our brand of course if you are exploited and then we have signs about here that are on this again you can see the black lives matter sign but you can also see it flow series where people have posted messages on the game and they read things like the silence is violence as long as it takes and vote and i group of people were reading of names of what seemed like every High Profile Police brutality case that its taken place in this country now its been 15 days and for officer derrick show been killed george boyd by policing is indeed on george lloyds night and although all 4 officers and involved in the keys have been charged people are saying that theyre going to continue protesting and tell me see reform in the Police Departments across the need should now all people continue to protest what was laid to rest in houston today and i want to take a look at what some of the family members had to say. I just want to see them and learn this member. Hold and. Im not. Going to see them. And. I think and forgive me. Person a super means for publishers of. Their own show no remorse watchman. Leave his body he bade him plead it comes just for you. But you just pushed harder why must you system because in production last largely in photographic american system to do. These low you could be shining just no more hate crimes these so was it make America Great again but when has america ever been great. Have you days ago d. C. Maam aerial valves are painted the words black lives matter on this a very street and she renamed it black lives matter blogs up although many thought that it was a bold move some people were saying that thats just not enough people are asking dolls or in other mayors across the nation to fund the police and allocate funds out where hell tell marginalized communities over a minneapolis mayor jacobs ryan hes already seen it that hes not going to define Police Although a lot of citizens in that city have been asking for years and that he do that he didnt buy that will be is because of that in the high profile cases weve seen with the land open steel and to mark large close to people who were killed by bullies and same paul and minneapolis and the people in minneapolis are basically saying an opposite enough and we see that across the nation even here in d. C. Where people are sick of that i dont want to surf or get that we are in the middle of a pandemic and that this time it appears protests will continue at least for another few days carried out with reopening some of the citys experts warn cuban numbers could continue to rise back to you ready for just one quick question that you could certainly have to with a yes or no question we have you can hear it on your stream every hint of violence or confrontations with Law Enforcement while youve been there too good to know i have not read thank you so much batch following the story for us there outside here in our Nations Capital this. That side of the white house this is the news of rick sanchez and youre watching our special coverage and were going to be right back. Wall street busy trading your money 5 days a week and there are 4 corners. And 3 major stock market. And when you have to watch drive or bail 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 you go. To buy. I like it when the hosts ask a question. That actually listens to the guests answer and then reacts to that thats a false Dennis Miller ive got a new shelf. You know it doesnt really matter where youve been. Batters its where you going. Well see you Church Generations look. At the establishment media as the lead in the water pipes that drove the romans 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 music. Hey welcome back im rick sanchez on a personal note i cut my teeth as a cop reporter in miami some of you may know that who followed my career ive been around Police Officers all my life ive heard them say essentially that what theyre being asked to do these days seems unfair our society has lots of problems including race but not limited to race and we expect Police Officers to deal with all of our problems and somehow try and fix them whether its a teacher with an unruly student a fight in a playground a domestic argument police end up having to deal with it and thats not what theyre really trained to do so when people say that maybe we should fund our communities differently and not just hire cops but also hire social workers and teachers and coaches those trained to deal with people in a noncriminal environment may have a point. I want to bring in now somebody who has actually had to deal with government budgets because he was a governor of the great state of minnesota honored to have him on former governor of minnesota Jesse Ventura governor what do you make of the argument that maybe we need to start funding other things besides Police Officers that doesnt mean that all Police Officers are bad it just means that maybe we ought to mix it up a little bit more. Well it also means we need to start looking to the root of the problem and the root of the problem just isnt Police Brutality the root of the problem is economic brutality too in all of that and when you talk about the funding you know id like to add to rick i was a governor or mayor also i was the mayor of Brooklyn Park minnesota the 6th largest city and when they talk about defunding the police id like to get this clear that doesnt mean theyre throwing the cops out and you wont have Police Protection anymore what it means is what you talked about in your opening of taking farms and putting them in allocating them to different places where things can get accomplished like you said why should cops be required to be psychologists and cite kyra trips and all their stuff when they get called to situations of Mental Illness so what they mean is by allocating and pushing funds i think it was camden new jersey did it and they literally destroyed their whole police force rebuilt it up from the base up and today i heard some figures that crime is down like 43 percent from what it used to be there and now youve got truly Community Policing going on i think another thing that needs to happen here cops need to live in the towns where they police. Could not agree more by the way theres something that ive noticed in my life i know im a little older than you but i remember when i was a kid. Out of the kid growing up in this country our parents worked i came from a family were both my parents had to work so i was home alone many times i would go to the park and the government would have somebody at the park who was a wrecked leader or a rock director and they actually taught me how to play basketball they taught me how to play football they taught me how to be a man essentially today you go to most parks in the United States theyre empty theyre not. Staff theres a guy on a tractor cutting the grass and if you want to play there you gotta pay for being in some private league or something i think thats a mistake dont you. Absolutely i mean when i was a kid growing up i was like you i was a latchkey kid but that had good advantage to it because if you got home quick after school you change clothes and get out of there you can go back to the park and play mall known dinner at 6 and your folks couldnt you know it was a way to get around and you just knew home to be be home in time for dinner weve lost that to the youre absolutely correct you dont see kids at the parks anymore you dont see any extractive adiz going on and thats where you got to allocate your funds not just in busting people here heads and let me say this the other disturbing thing why do cops now look Like Star Wars commando i mean when they come out and you look at them they dont look like your friend they look like an Occupying Military today yeah i agree i you know these cattle flaws unit uniforms and some of them look like like seals like what you used to be rather than somebody who seems approachable and i think that makes a big difference in policing doesnt it. Yes and i believe that i was driving down minnesota a year or 2 ago and i saw on the freeway this big black vehicle looked like could belong and i rack and i pulled alongside of him and said mr sober state Highway Department and i looked and i said ill tell you what we would have bought that if i was still the governor i guarantee of that this state was unbelievable i mean it was it was a combat military machine we need to get bad stuff out of our police force others we do i was in the philippines when Ferdinand Marcos declared martial law i was physically there and there were military on every corner with machine guns lets not do that you know its funny you said that you know they didnt buy that they gave it to him for free thats surplus from the military and what they do the military wants to keep doing new stuff they get it from the Big Companies here and then with their surplus stuff they call cities and governors or whatever and they say you want this stuff and they say sure well take it so theres now military hardware in our cities thats thats the reason its happened governor. Oh well however its happening it needs to stop rick we dont need our cops running around in our country looking like an Occupying Force and you know what im going to throw some of your i want people to Pay Attention to our you know who else used to be a candidate that stood for law and order and made a big point of it he was that guy over in germany by the name of golf who rose to power a platform of law and order and with that we say thank you Jesse Ventura former governor of the state of minnesota a point well made thank you sir good news from russia for the global fight against covert 19 parent demick the Russian Health ministry has approved yet another remedy to heal severe forms of the disease that means less people will die hard to use your shop of oliver has more. Coverage 19 seems to loosen his grip slightly as a new remedy has arrived introduced by russian scientists the patients hit hardest by the disease the ministry of health has registered yet another drug for treating complications caused by code 19 living a lie mob with his trade name the medicine is to help patients with severe course of the disease when the socalled cytokine storm develops this condition is an excessive inflammatory reaction of the body to the introduction of the virus which leads to tissue damage in particular palmeri with a possible fatal outcome and initially the drug was created to treat a room a toilet. But due to its mechanism of action it later underwent clinical tests as part of the fight against corona virus infection and the results tend to be very positive according to research as if the drug is used in advance when the cytokine storm is just about to develop and not at the moment when it has already developed then the life threatening effects of co the 1000 can be prevented doctors recommend just 2 injections of the drug when the 1st signs of the complications appear and patients do not get. Intensive care and do not need ventilators the drug reduces the patients stay in hospital and at the same time prevent a life threatening situation in july this year the Company Plans to deliver the drug to russian hospitals the drug has already been used in hospitals for 2 and a half years as a Rheumatoid Arthritis medicine and bad its proven that its not dangerous to humans all possible side effects are said to be predictable and controlled meanwhile the global race for corona virus 16 continues the u. S. China and russia are among the frontrunners meanwhile in late may russia proved its 1st drug against corona virus called the 5 year based on a japanese drug approved for the treatment of 19 it has been fairly well studied and used in japan since 2014 again severe flu complications plus russia has already begun testing its very own new vaccine volunteer representatives of its matric asa now you know. Thanks so much and thats our news im rick sanchez stay safe stay connected with portable t. V. And of course you can also download so you can watch it and get the very latest on all of the stories taking place right now including whats going on with protests and whats going on with the pandemic as you can also see you can also join us on roku and on Amazon Firestick as well we leave you with actual protests that are taking place as we speak this is a live picture youre looking at right now from manhattan where protesters have been peacefully assembling arguing for justice and arguing and protesting to the death of george how much of the hits against. Probably the greatest success. So the Civil Rights Movement which was respect for Human Dignity all lives matter under the rule of law that was then but today the same concept has been turned on its head we were told to change the need or face consequences the social shany is being turned into a ruling by me on. Fencers financial Survival Guide i dont buy a i pod on a teachers. Face on how most of friday i saw some of my ex from the future aka watch kaiser. Welcomed on contact today we discussed the nature of the permanent lot with author mark green another 20 percent didnt vote for traditional publishing so if he can convince then that black is white a white is black according to how they are paid to quote Jonathan Swift hes got it so he doesnt care about tuesdays is good but you are mean is terrible reality so he will repeat and repeat a permanent law i as gerbils knew so well as mussolini knew so well the current a big body to people who are 5 2nd voters oh yes sounds good and then they go back to what theyre doing and they both skim. To overwhelm their love of family. Or the love of truth because they believe trump even though the air is dirty. Water is dirty or. The rich are getting epically