Washington coming up the numbers are in the United States took a major hit to its g. D. P. In the wake of the coronavirus dropping more than 30 percent annually straight ahead we analyze the extreme drop and the state of the real economy here in the u. S. Plus a big texas seeing an influx of antitrust cases as tech tensions continue to rise across the globe later on in the show where to take a look at the cases and whats at stake moving forward with a packed show today so lets dive right in. And we lead the program with the latest Economic Data out of the United States the Commerce Department reported wednesday Gross Domestic Product fell by a record 31. 4 percent in the 2nd quarter of 2020 now the number was a slightly better than the 31. 7 percent decline projected in august the contraction was more than triple that of the previous record holder of 10 per cent in the 1st quarter of 1958 now economists back substantial gains in the 3rd quarter as. Millions of americans have gone back
This is boom bust one business show you cant afford to miss friendship or in washington coming up the numbers are in the United States took a major hit to its g. D. P. In the wake of the coronavirus dropping more than 30 percent annually straight ahead we analyze the extreme drop and the state of the real economy here in the u. S. Plus a big texas seeing an influx of antitrust cases as tech tensions continue to rise across the globe later on in the show where to take a look at the cases and whats at stake moving forward with a packed show today so lets dive right in. And we lead the program with the latest Economic Data out of the United States the Commerce Department reported wednesday Gross Domestic Product fell by a record 31. 4 percent in the 2nd quarter of 2020 now the number was a slightly better than the 31. 7 percent decline projected in august the contraction was more than triple that of the previous record holder of 10 per cent in the 1st quarter of 1958 now economists suspec
Added 749000. 00 jobs in the month of september according to payroll firm a. D. P. A. D. P. Reported the sectors that gained the most jobs were trade transportation and utilities followed by manufacturing than leisure and hospitality which has just been decimated by the cove in 1000 pandemic and the health and Education Services sector so what does this all mean for the overall state of the economy and the prospects of a recovery lets go ahead and get some expert analysis from professor Richard Wolfe author of the sickness is the system and capitalism fails to save us from pandemics or itself and boom bust cohost christi i thank you both for being here professor wolf i want to start with you many people still believe that this rebound is still intact and that the 3rd and 4th quarter will swing back and expectations are that the economy will expand at an annual rate of 30 percent as businesses have reopened and millions of people have gone back to work as we just mentioned now do you se
Was more than triple that of the previous record holder of 10 percent in the 1st quarter of 1958 now economists suspect substantial gains in the 3rd quarter as millions of americans have gone back to work and businesses have started to open their doors to customers once again and on that same no private Sector Companies added 749000. 00 jobs in the month of september according to payroll firm a. D. P. A. D. P. Reported the sectors that gained the most jobs were trade transportation and utilities followed by manufacturing then leisure and hospitality which has just been decimated by the copen 1000 pandemic and the health and Education Services sector so what does this all mean for the overall state of the economy and the prospects of a recovery but lets get some expert analysis from professor Richard Wolfe author of the sickness is the system when capitalism fails to save us from pandemics or itself and boom bust cohost christine thank you both for being here. Professor wolf i want to s
Situation just weeks after the countrys starting to reopen. Those are your headlines from all the stories. Coming your way with us. Live from the World Headquarters of the r t america our Nations Capital this is the news with rick sanchez everybody im rick sanchez and i want to welcome all of you who are watching us from around the world including those of you who are watching us on your phone using the portable t. V. Up as we begin this newscast right now records are being set in the United States you know its funny often when we think of records we think of highlights we think of accomplishments usually of things that are positive well so i did say this. Not that type of record this morning the state of florida announced that its daily death toll for corona virus is at 173. Unfortunately that is a single day highest total ever announced by the Florida Department of health since the pandemic big. If this record was set july 16th with 156. 00 deaths the trend seems to obviously be goin