Pandemic may have been that chip on the jenga stack, if you will. Brian, if you want to say its a house of cards that was built by the policymakers in order to bail out the Financial System during the crisis one day, you know, a breeze came along and knocked over one with the cards and its bringing the whole house down well, the house, the equity market rose 13 this week. I understand we are still well down on the year it seems like the fed has shored up the credit market, but it sounds like youre not believing that the bottom is in yet. No, i dont think so. I mean, brian, when we look at some of the data that were getting with Unemployment Insurance claims and so on and so forth, you know, it would suggest that, you know, were going to get to a place worse than the financial crisis economically unemployment perhaps around 15 and Economic Contraction for the year, say maybe in the neighborhood of 10 . These are pretty nasty numbers and when you look at valuations on stocks, the degree
Brian, if you want to say its a house of cards that was built by the policymakers in order to bail out the Financial System during the crisis one day, you know, a breeze came along and knocked over one with the cards and its bringing the whole house down well, the house, the equity market rose 13 this week. I understand we are still well down on the year it seems like the fed has shored up the credit market, but it sounds like youre not believing that the bottom is in yet. No, i dont think so. I mean, brian, when we look at some of the data that were getting with Unemployment Insurance claims and so on and so forth, you know, it would suggest that, you know, were going to get to a place worse than the financial crisis economically unemployment perhaps around 15 and Economic Contraction for the year, say maybe in the neighborhood of 10 . These are pretty nasty numbers and when you look at valuations on stocks, the degree of overvaluation where we were at the peak just six weeks ago vers
May have just been that chip on the jenga stack, if you will. Brian, if you want to think of it as a house of cards that was built by the policymakers in order to bail out the Financial System during the crisis, you know, one day a breeze came along and knocked over one of the cards andits bringing the whole house down. Well, the house listen scott, the equity market rose 13 this week. I understand, were still well down on the year seems like the fed has shored up the credit markets a little bit. It sounds like youre not believing that the bottom is in yet. No, i dont think so. I mean, brian, when we look at some of the data that were getting with Unemployment Insurance claims and so on and so forth, you know, it would suggest that, you know, were going to get to a place worse than the financial crisis economically unemployme unemployment, perhaps, around 15 , you know, and Economic Contraction for the year, lets say, maybe in the neighborhood of 10 these are pretty nasty numbers and w
Dow hit its alltime high of 29,568, just 16 trading days later its down 3,400 points. Keep a little perspective here. Yeah, thats a big and rapid drop, but were not at this point in a bear market. We are going to open down 700 for the dow, 80 odd for the s p, 270 for the nasdaq. Its a friday. Remember that. Its important. There will be some reluctance to hold stocks over the weekend because you simply dont know what virus headlines will greet you come monday morning. Now, heres some positive news on the economy, which is having no effect on the market. 273,000 new jobs added last month. A blockbuster report. But that report looks backward. The stock market looks forward. Larry kudlow will be addressing this coming up on the show today. And we expect to hear from President Trump shortly. Last night at his town hall on fox, he had a calm demeanor and on the virus he said we have plans for every single possibility. The campaign trail. Elizabeth warren has not yet thrown her support behind
Saying. Reporter larry and ama, the mayor was not shocked by the numbers. She tells us that their goal is to have a total of 700 beds by the end of this year. There are more than 4,000 homeless in the city. A waiting list to be on a waiting list. Item number 115. Reporter frankie lee ban ser one of more than 4,000 homeless living in oakland and says shes been waiting for housing for months. Oakland is answering this crisis with a sense of urgency innovation. Data collected by oakland and Alameda County officials confirmed the Homeless Population per capita surpasses anywhere in the bay area. Oaklands Homeless Population rose 47 between 2017 and 2019. We have the triple whammy of income inequality, an inadequate supply of housing, insufficient protections against displacement and a Mental Health system that is not working. Reporte lmoaknd opened its first safe rv parking site and announced two more under development. It has four sites they call cabin communities offering sheds in backya