News in new york city. We begin here, organizing the Manhattan Project for coronavirus vaccine. Its called its it wants doses available by the end of the year. The program will partner with from Single Companies in the military. President trump says he think china is determined to see him lose the november election and thats influencing beijings response to the coronavirus outbreak. In an interview with reuters he says he is considering various ways to punish the Chinese Government and blames her for allowing the virus to spread. The death toll the u. K. From the coronavirus passing 26,000. Saying the government wont ease the lockdown quickly. Whereghting germany social distancing measures were relaxed. Falling both nations more than 5 for the euro area later today. In the worst is still come. We end in china where factory data showing a domestic recovery being undercut by a global slump. Slippingred pmi despite them moving into expansion territory. Of economicecovery activity is likel
A i have no idea why he did that in a british accent it was in fact a french guy pinto who receive that money are are no that was kind of the peak of that era so here we have this Great Depression looking numbers and the unemployment numbers and bank of america sees 15. 6 percent unemployment so that that system is looking degraded and sick and in fact sick isnt the 1st words here of this tweet does this chart make anyone else sick fed Balance Sheet rockets up corporate earnings going straight down further evidence we dont live in a Capitalistic Society at last for decades of extreme leverage to conceal declining productivity to enrich a small elite on full display so as weve been covering here on the ties reports earnings have been declining for years now but to spend made up for by on the one hand stock buybacks where the shareholders are losing basically in the. Company is losing because its losing its cast its axis of cash its taking its cast off its Balance Sheet and turning it in
System leaving and this is the the hardening system the hard money system entering and to join us through this time we have gear mo who we met in mexico city said am ex say he was so wise and he told us about hard money so hes actually pretty hard if you pick him up its really hard unlike plucky who eat took with us through the central bank and feel your scorn painting hes quarantining but hes really floppy you know he can barely hold the worlds most famous central banker hes the most famous central banker but this is hard money era so we have a stone cold headed just like your jacket weve been signaling this so we have to join us to talk about briefs for the deepest recession on record says bank of america analysts as jobless claims surge to 6600000. 00 they believe that Unemployment Rate is going to go to 15. 6 percent up from 3. 5 percent in february so thats a huge rise in Unemployment Rate we havent seen this and our lifetimes this sort of surge this rapidly well even the 3. 5 per
The past 6 months since the fed started inter intervening in the repo market and then we got hit by a pandemic and now we have mass unemployment and things like that thats the fear system leaving and this is the the hardening system the hard money system and touring and to join us through this time we have gear mo who we met in mexico city said am ex say he was so wise and he told us about hard money so hes actually pretty hard if you pick him up its really hard unlike plucky who eat took with us through the central banking field ideas quarantining hes quarantining but hes really floppy you know he can barely hold the worlds most famous central banker hes the most famous central banker but this is hard money era so we have a stone cold headed just like your jacket weve been signaling this so we have to join us to talk about braced for the deepest recession on record says bank of america analysts as jobless claims surge to 6600000. 00 they believe that Unemployment Rate is going to go t
Europe and why debts keep rising so much in spain and in italy and what can be done. Tom we have an important interview in the next hour on the virus. We will go to mount sinai for that. I am next to the outside i manhattan hospital in new york. I will tell you, it is an extra ordinary monday. I know you see in in london, we see it in new york, with quiet streets and politicians really needing to adapt. My major message in this hour is the complete readjustment and struggle that global wall street is having trying to gauge this contraction. I love what bruce kasman said at jp morgan. He looks back and harkens back to the contractions that we saw before world war ii. Francine i think we had an update on friday from goldman sachs, j. P. Morgan on the Second Quarter gbp just gdp in the u. S. , and the numbers are nothing like we have ever seen before. So i know we have a full round of update just on the lockdown, different in new york than it is in london. Boris johnson saying that people