Introduce people more formally prior to their also thomas fanning, two of the commissioners of the commission. First of all i want to thank the cochairs and that commissioners for the important work on the Cyberspace Solarium Commission. I think the end product is excellent. I think it has solid recommendations that a number of these are within our committees jurisdiction over the working hard to evaluate those and the ones that we can get them passed into law of these recommendations can be done through executive action. What id like to spend my time just enter my formal written state into the record, i just want to talk about two of the commissions recommendations. When i i got here in the congrs in 2011, cybersecurity was a hot issue. It still is. Its not going away. I remember the buzzword back ban is we have to do something about this. Weve made a number of attempts and quite honestly we made a fair amount of progress. My own sense is the bad guys, the people and often always have
We are already approaching the highest percentage of unemployed since the great depression. Now more than ever, americans need to know that their leaders are working for them, and they have voices as we work to navigate in this pandemic. In a world where it is no longer safe to be within six feet of each other, congress has to learn how to adapt. It is not the first time we have made do to ensure the continuity of congress. With the Nuclear Threat during the cold war, the u. S. Government constructed a large bunker for congress. We would be required to meet outside of washington. This may either first time in the modern area where there is not a physical meeting location at risk, but rather elected officials themselves and others we would be in contact with. We are a subcommittee of the Homeland Security and Governmental Affairs committee, which has jurisdiction over congressional organizations. Its important we look at this issue on how to govern during these sorts of times. From that
Twoyear is now trading, but that doesnt seem to matter. The majority of debt in europe all undergoing this powerful rally, despite the fact that we are going to see horrific unemployment number in about an hour and a half. Lets get you out of the market moving news from our new york team. We want to start with the much awaited u. S. Jobs data out of april for the next hour. Economists now estimating 22 million jobs wiped out in the past month. Joining me now is carl riccadonna, bloomberg chief economist. It is hard to put these into perspective. Help me out. Morning. D these numbers point to immense disruption in the u. S. Economy, on a scale we really have not whichn recorded history, goes back to either world war ii or the great depression. ,o put some context around this this is far more than all of the job losses we saw during the Great Recession concentrated into a single month. If we take the job losses of the last nine recessions, lump them all together going back to the late 19
In the last five weeks, based on the numbers i saw this morning, nearly 30 million americans filed for unemployment. We are already approaching the highest percentage of unemployed since the great depression. Now more than ever, americans need to know that their leaders are working for them, and they have voices as we work to navigate in this pandemic. In a world where it is no longer safe to be within six feet of each other, congress has to learn how to adapt. It is not the first time we have made do to ensure the continuity of congress. With the Nuclear Threat during the cold war, the u. S. Government constructed a large bunker for congress. We would be required to meet outside of washington. This may either first time in the modern area where there is not a physical meeting location at risk, but rather elected officials themselves and others we would be in contact with. We are a subcommittee of the Homeland Security and Governmental Affairs committee, which has jurisdiction over con
Weakness. We had massive Dollar Strength in the last few weeks, given the funding issues, and everyone just wanted hands on dollars. The fact that that is easing a little bit could give us some hope that may the funding issues have worked themselves out. What is not working out is big tex. I was innto this year, san francisco. You had rbc saying google, facebook, top calls for the year on ad spending. It was an election year, the olympics, it was all going to be a huge advertising year. As we know, the olympics were delayed. Facebook coming out and saying they are seeing a big uptick in usage of whatsapp. The demand for news is there, yet it is not translating into ad sales. The first thing you cut when things are tough is discretionary spending, so firms are starting to pull back on some of that advertising revenue. That is why youre getting at uptick in usage, but it is not translating into sales. I wouldnt be shocked if we got a lot of analysts revising after the olympics are delaye