Good morning, everybody. Welcome to squawk box here on cnbc but this comes after a backdrop of a pretty big decline on friday on friday the dow was down by 700 points and this morning its up by 200 points you have the s p up by close to 20 points and the nasdaq up by 26 but we are getting to the end of the month and thats when we start to take notice of what has been happening with declines that we saw on friday push the dow and s p 500 into negative territory for the month of june. If they want to make that up they have two trading sessions left before we get to july so over the next two days the dow would have to make up 1. 5 if it wants to be positive for the month of june. S p would be up 1. 2 its up by 2. 8 . Lets take a look at what has been happening with the treasury market the treasury yield the ten year is the one that we always pay the most attention to it seems to be yielding. 645 . And i think he is going to have interesting things to say too in terms of trying to put it i
While to discuss that im now joined by David Hammond arsen a Research Fellow with the Hoover Institution at Stanford University professor henderson its good to talk to you thank you very much for your time and if youre actually now one of the things that has been possible in me is that all of the call that 19 pandemic is that in many countries its economists spread merrily liberally minded economists who are very much in favor of the strictest lowdown possible while many at the dimmy all exist and other Public Health professionals are a forum or are reserved about such tools mashers how do you explain that. What i think it what economists did early on starting in march the reason university of chicago study was they took the most extreme. Model which was the Imperial College of london model which has been shown to be fundamentally flawed and they said ok lets take that as given and then lets look at lets kind of see what policies will save how many lives and they came up with us an ast
Possible while many epidemiologists and other Public Health professionals are a form more reserved about such total matters how do you explain die out. What i think it what economists did early on starting in march the reason university of chicago study was they took the most extreme. Model which was the Imperial College of london model which has been shown to be fundamentally flawed and they said ok lets take that as given and then lets look at lets kind of see what policies will save how many lives and they came up with us an astounding measure 1760000 wives which now by the way birch really no one believes that anyway thats what they said and then they took this value of a statistical life that economists talk about i can explain that a little more she was multiplied one by the other and while i got almost a trillion dollars in benefits and they said well lock downs are extremely costly but they are going to cost close to a trillion so therefore we should do it. Is was it an economi
Actually now one of the things that has been possible in me is that all of the call that 9000 pandemic is that in many countries its economists spread merrily liberally minded economists who are very much in favor of the strictest possible while many it could mean all exist and other Public Health professionals are a forum or are reserved about such tools mashers how do you explain that. What i think it what economists did early on starting in march the reason university of chicago study was they took the most extreme. Model which was the Imperial College of london model which has been shown to be fundamentally flawed and they said ok lets take that as given and then lets look at lets kind of see what policies will save how many lives and they came up with us an astounding measure 1760000 wives saved which now by the way birch really no one believes that anyway thats what they said and then they took this value of a statistical life that economists talk about i can explain that a littl
Which was the Imperial College london model which has been shown to be fundamentally flawed and they said ok lets take that as given and then lets look at lets kind of see what policies will save how many lives and they came up with us an astounding measure 1760000 wives which now by the way birch really no one believes that anyway thats what they said and then they took this value of a statistical life that economists talk about i can explain that a little more she was multiplied one by the other and valar got almost a trillion dollars in benefits and they said well lock downs are extremely costly but they are going to cost close to a trillion so therefore we should do it. Is was it an economic consideration rather than a moral or ideological one thats correct but by the way i should have said lockdowns let me just read you what they study they study combining home isolation of suspect cases home koren 1000 of those living in the same household as suspect cases and social distancing o