50 years to the point now were learning velocities and 0 and the continuing errors are growing exponentially but yeah i mean as simon dixon pointed out in the last interview there is a sense that they understand this problem of cars and they want to start giving money to the people instead but its kind of too late because after 20 years of this mass cancelling the fact that we see you know the top one percent have all that wealth and all the assets so they could buy up all everything before the inflation arrives of all this money going to the ordinary people but you know another quote that we say all the time here and i think its one of the most relevant to this sort of cantillon economy that we do have and that is from Frederick Bos the out one of the thinkers of the french in my meant and it is relevant to today because we do see a trickle down of the plunder that happens at the top so when plunder this is the quote from Frederick Boss the out becomes a way of law. For a group of men
Is. Im max kaiser this is the kaiser report lot of people talking about is this the beginning of china as the worlds superpower or but theyre not thinking about another end of an era in that would be the Central Banks stacey yes we are we believe here in kaiser report anyway that we are at the end of a fee out era and weve been kind of warning of preparing for that for the past 10 years of this series 11 years now and you could see that even Jerome Powell an acting sitting head of a central bank the u. S. Consul bank is even saying this member last year mark carney said that as he was exiting the bank of england he said that the dollar is no longer fit to be the worlds reserve currency and that we need these additional currency sort of s. T. R. Sort of currency to replace that and this earlier this week we saw a drone powell stated that he would dread a day that Digital Currencies take over the Current System and the u. S. Dollar would not be the old reserve currency anymore right its
Ask them, they know where they were that day. 9 11 is one of those rare moments, perhaps one of the only moments like it. Tom in washington, was a plane ascending with a plane ascending out of reagan, a flag unfurled along the west wall of the pentagon. Thee will be ceremonies at pentagon at the pentagon at 7 30 this morning. As you say, we moved to new york city. What a decidedly different 19th year of remembrance this is. With this pandemic, it will be a very different set of images this morning. Jonathan we will observe those moments of silence through the next several hours here on bloomberg tv and on bloomberg radio. Lisa, give us the day ahead. Consumer8 30, some price data. We are talking about a potential dynamite pillow, as we heard from albert gallo. Will we see the resurgence of inflation . At 2 00 p. M. , how big is the u. S. Deficit . We will get the august budget statement. Today, President Trump and former Vice President biden will be marking the 9 11 anniversary. I have
Vaccine. If you want to understand this market, including today, the dow tumbled 354 points s p lost 1. 23 and the nasdaq plunged 2. 29 with many bigcap tech stocks taking it on the chin. You have to recognize things will never be the same in this country or around the world until we get a vaccine the pandemic, not the fed they know nothing not the election is the most important driver of the stock prices thats right we get a vaccine sooner than expected, we save the economy. But if the process drags on and we dont have any stimulus, were going the need to adjust to the slow to no growth huddle at home normal therefore, our fate is in the hands oh of a few dozen companies. Whoever get there is first is going to make a lot of money thats why we decided to do something new. We surveyed 92 drug analysts, the best we could find, state and local level, to handicap the chances of each of the main players. We dont bet on at least we dont like to bet on lifethreatening situations. This is a te
Off from her restaurant job. It helps with groceries. It is pretty great. To make it as a drive through distribution center. Workers from the nonprofit connects young to Community Load up cars and suvs with food boxes containing fresh fruits and vegetables, chicken, eggs, and milk. They also give out face coverings to people who dont have them. You can make a lot of healthy meals for from what you get here. It is one example of the unprecedented need for food during the pandemic. In february we were serving about 270,000 individuals. Now we are over 500,000. She says e demand doubled in just a few weeks and is not slowing down. We went inside the Second Harvest food bank where it literally takes an army to package all the food boxes which will be sent to hungry people throughout santa clara and san mateo counties. This group is from the 129th rescue wing of the California Air national guard. The guard stepped up when shelter in place nearly wiped out the food bank volunteers. We lost a