And there was a lot of speculation at the time that you know the i. M. F. Was kind of greasing the skids for yet another metaphor. To cause the greek meltdown remember there was a lot of shenanigans going on Goldman Sachs cooked the books for grace that they could get into the euro under the master trading they they obliterated all the rules and regulations they got them in then greece quickly went into the garbage dump became a flaming dumpster and the i. M. F. Suddenly had a role to play it something was relevant to the yen and now here we are in 2020 and the i. M. F. Is like bailing out half the world over there i made a good job themselves of it because theyve become somebody in this world you know the i. M. F. From from being almost completely marginalized and worthless well back about 100 years ago we had this notion of communism and socialism and the workers would gain all the power and the workers would gain all the wealth but now weve discovered that nobody actually has to wor
It took a tumble in less than six weeks and then rebounded 36 of the lows from april yesterday. The s p down 34 from february 19 to march 23, less than five weeks. Crazy to think about how quickly that fall came then we were back up 30 off the low for april. Joe . If you used april then i could get to 82 years i dont think sorkin was listening to me. I was i said, no, i dont remember. You are always saying maybe i wasnt around for that here is my proposition for you, andrew sell in may is a common expression go away ive never felt more like selling in may than i do right now. I have to be honest. It is not just you. Look at the dow this morning down 454 points. Just to test whether this kind of thing works. It would be impossible for me to go long with money what was he, 163 or something. I saw another guy say it is going to be so hard over the next year that we are looking at another 40 drop others that say the average recession that the market doesnt bottom for 11 months although jim
The i. M. F. Is like bailing out half the world over there i made a good job themselves of it because theyve become somebody in this world you know the i. M. F. From from being almost completely marginalized and worthless well back about 100 years ago we had this notion of communism and socialism and the workers would gain all the power and the workers would gain all the wealth but now weve discovered that nobody actually has to work theres no work anymore and we find out when everybodys quarantined because nothings being made right there is and still like the economy their stock markets are floating up higher and higher and everything seems ok right now but now everybody has discovered the magic of the Printing Press and this is the danger of here its like well they could just print out money like what was all that stuff about with greece why were they forcing austerity on them when apparently they have a trillion dollars like how does the i. M. F. Which cant produce wealth right they
Brent also lowered to about 2. 3 . With treasuries. Havens like the dollar, the yen. We saw where the nerves are with dollar renminbi. Seeing the hikes inching closer for dollaritory china right now. 6. 4 ,ing a contraction of so we could be seeing a deeper contraction. Financialrom the secretary paul chan saying we could be facing the worst contraction on record. The rupiah seeing some strength here. The carry trade has been coming back. 14,000, 935 around 14,935. The trump ministration is stepping up its attack on china, saying that there is enormous evidence that the coronaVirus Outbreak emerged from a lab in wuhan and china covered it up. Secretary of state mike pao stopped short mike pompeo stopped short of saying the virus was manmade. While the Intelligence Committee continues to do its work, they should continue to verify so that we are certain. I can tell you that there is a significant amount of evidence that this came from that laboratory in wuhan. Business confidence in the
Pain as the krona virus has led to massive layoffs and struggling businesses whats the plan for recovery we have expert analysis on hand to break it all down we have a packed show today so lets go and dive right in. And there are Big Questions surrounding badly needed medical supplies and facemask that are currently sitting in warehouses in china the u. S. State department claims that u. S. Bound face masks test kits and other medical equipment urgently needed to fight the corona virus is not leaving china thanks to new chinese export restrictions those supplies are supposed to either already be here in the United States or at least should be on their way and yet they are not according to the wall street Journal Health care equipment maker perkin elmer ank based in massachusetts is an able to ship 1400000 test kits for cope with 1000 the disease caused by the new corona virus from their sous out factory because it lacks certification required by the new rules and then there is 3 m. Cor