Vaccines. Virus deaths hit a record in the u. S. And in italy. And finding a compromise, opec agrees to slowly add more oil year after days of tense talks. Saudi arabias Energy Minister called the process of excruciating. Welcome to the program, everybody. Welcome to the European Market open. It has just gone 7 00 here in london. German factory orders rising 2. 9 month on month. The estimate was for an increase of 1. 5 . That was better than anticipated. Factory orders arising year on year, 1. 8 . The estimate was 0. 2. We have seen a continuation of growth coming through. We will see what momentum is like in the further winter months. Another story out of germany, potentially more interesting, perhaps. Germany has agreed to extend a to preventr bankruptcies as the economy is hit by the second wave of the pandemic. Germany is extending its 37 billiondollar backstop for Credit Insurance by another six months in the month of june. The industry will surrender 60 of remittance to the gover
But we will be told to proceed with caution and dow closing for the first time in history over 30,000 the question tonight, are we headed yes, thats right, are we heading higher and higher . There are positives. The president ial transition is under way. We have three coronavirus vaccines ready to rock so, is the next 10 move higher and higher or are we headed lower and lower . Well that song, thats a miserable song thats why we chose it. Please dont at me on twitter. In the list of bullish things we talk about, the peaceful transfer of power as being a bullish thing. You would think that would be a given. I find the market took that as a positive today fascinating. I will be the first to say in terms of the Broader Market, i have been dead wrong we have had individuals stocks we have done a good job with Broader Market not so much we are so over it in terms of valuation, euphoria, the things that can go right, not just the head winds out there despite it has bnsecause i been market we
Side willing to concede. So well be going to the u. S. Supreme court we want to. Voting just so youre prepared for any efforts republicans make in any court and you key states to advance the absurd theory that the president is hours last night. Make sure to check out our website r t dot com for faster than light updates on anything and everything surrounding the u. S. Election ill be back with more of your world news updates in just about an hour thanks for watching and i hope to see you then. Oh backs ties are this is the kaiser report i think there is a winner yes we have a winner stacey we have a when are we have a winner oh well incoming incoming. My best just a civil war but dont call in the troops for us because you know at the civil war the noises you hear the incoming missiles and shrapnel and not theres a weaponry thats just the larp ing going on and Rachel Maddow and and or some coopers head you know theyre magine in the civil war that was here that was happening oh yeah so t
Know why theyre saying Jerome Powells the winner why because not only is he taking care of the can tell you in our class and i can tell you in our class must be taken care of max whether or not whatever party wins whatever of the 2 parties are allowed to vote for when but remember what we talked about in the lead up to the election or the notion of the Central Bank Digital currency z c b d c s whereby the government the Central Banks are going to be able to deploy fiscal policy because the governments themselves are so locked in partisan hyper hyper warfare. The civil war. Well apparently right before the election i. M. F. Chief economist get to go penarth says global liquidity trap requires a big fiscal response and again you see wow thats almost a difference between monetary and fiscal while Monetary Policy if you see you know the charts leading up to. Until 2020 was just what the government the Central Banks did through quantitative easing and the m 2 money supply did not increase b
Election or the notion of Central Bank Digital currency is the c. B. D. Sees whereby the government the Central Banks are going to be able to deploy fiscal policy because the governments themselves are so locked in partisan hyper hyper warfare. The civil war. Well apparently right before the election i. M. F. Chief economist get to go penarth says global liquidity trap requires a big fiscal response and again you see. Thats whats the difference between monetary and fiscal while Monetary Policy if you see you know the charts leading up to. Until 2020 was just what the government the Central Banks did through fanta tate of easing and the m 2. 00 money supply did not increase because it just stayed in credit in the banks whereas fiscal policy goes to you to me to everybody joe back to donuts out in the street. All sorts of people thats going to cause inflation thats what they want they want to be able to write so the Central Banks are just going to print the money put it right into your l