Student volunteers. Please turn off your cell phones. And now, please join me in welcoming senior associate director dr. Barbara ballard. [ applause ] thank you very much. Ill say good evening and welcome to the Dole Institute of politics. For the Third Program of the 2020 president ial lecture series. Tonights guest is professor of communications, robert roland. We would like to thank our cosponsors, the university of Kansas Department of Communication Studies, the department of history, and the department of political science. This evenings interview will be conducted by Dole Institute associate director audrey coleman. Joining us tonight as an honored guest is ron marks. Hes our spring 2020 fellow. Hes a former Senior Analyst for the cia and intelligence expert and intelligence counsel to Senate Majority leaders robert dole and trent lott. Would you stand, please . [ applause ] thank you. This years president ial lecture series was created and developed by dr. Robert roland. He is a
Come to you. Please stand if youre able and ask just one brief question. We have a loop hearing session after each program designated by a sign as well as a limited number of listening device. If you have a question about the loop system or at any time during the program you have difficulty hearing please alert one of our Staff Members or student volunteers. Before we begin id like to remind you to please turn off your cellphones. And now please join me in welcoming senior associate director dr. Barbara ballard. [ applause ] thank you very much. Ill say good evening and welcome to the Dole Institute of politics. For the Third Program of the 2020 president ial series. Tonights guest is professor of communications robert rowland. We would like to thank our cosponsors, the university of Kansas Department of communications studies, the department of history and the department of political science. This evenings interview will be conducted by Dole Institute associate director audrie coleman
U. S. Dollar loses its status as the unit of account in World Reserve currency Something Else is coming it wont be u. S. Dollar it could be another countrys currency or another consortium of countries developing some other currency backed by somebody elses oil or gold etc just to make clear that in russia the breakeven point is about 15. 50 because there is an 8. 50 cent tax on every single barrel so you have a cost of production its about 7. 00 but they add in the cost of the tax just like in the United States about 50. 00 is the break even and that includes a tax of about just under 7. 00 obviously since we went on the u. S. Dollar standard and we were untethered from cold then we could control everything because we could print as much debt as we want and nobody really knows how much debt we have and thats why we have the repo market situation thats why we keep on having boom and bust thats why we have especially at the bus like radical bust because people are when sort of crisis hit
We have heard a lot of talk this week about a possible recession, about this company sliding into recession. Define for us what a recession is, and tell us if we are headed into one. Recession in economic terms is six months of negative growth, so the economy is literally shrinking. We goingebate is, are to see that right now . Usually you have to see shrinking growth and substantial job losses. So you need those two things, neither of which are fun or pretty. Week the starting this u. S. Economy literally shut down. For the past three days, i have been in my house. I havent gone out for lunch. I havent been going to the gym. I havent been doing my daily routine. And when you multiply that across the country, it is an immediate shutdown of every sector pretty much but healthcare and grocery stores, for now. [laughter] if they can keep those shelves stocked. So definitely march is going to be negative, definitely april, probably may. The question is, when do we rebound . I would argue y
Seeing whippy action. Lots of movement happening all over the place. We are going to take you through all the news with global exchange, the market moving news from all around the world. From hong kong to new york to washington, our bloomberg voices are on the ground with all of this mornings top stories. Announced newj measures to pump liquidity into the markets to ensure financial stability. Joining bs enda curran. What do we see joining me is in the current joining me is enda curran. What do we see . They bought around 100 billion worth of stock funds and came out with an emergency statement making it clear that they will do whatever it takes liquidity ande is stability in the markets. The boj actions are flecked growing concern about dollar reflect actions growing concern about dollar shortage. We have seen australia pump in a lot of money, and china centralbank top off today with the rrr rate cut. That is all about freeing up funds for banks to lend more to companies that need it