The month as the Coronavirus Crisis takes its toll on the economy. So no wonder thousands of Small Business owners began lining up before dawn to tap the governments rescue coffers. With 349 billion dollars in loans ready for the taking were about to get the realtime numbers from the fed. But why are some banks both huge and small waiting to grant the loans . Right now still . The ceo of a Community Bank, serving hundreds of desperate Small Businesses is here. Why the ceo is teaming up with regional competitors to launch the loans on monday. Its a fox business exclusive. Meanwhile, one financial tech loan Company Thinks the covid19 catastrophe could accelerate the death of paper money. The co founder and the ceo of a firm, a big thinker is going to join us in a fox business exclusive with why he thinks that Paper Currency is going away. One of the nations biggest producers of the medical community, most valuable commodity right now, after doctors, is here. The ceo, the top producer of,
Meeting, many of us have been talking together but we cannot get done what needs to be done, only you and the administration can critically given attention of the saudis and flooding the markets adding insult to injury at a time when our economy is suffering anyway because of the coronavirus. So this meeting could not be more timely. I agree with whats being said about the importance of Affordable Energy to our standard of living and really we change the world as a result of the production of Domestic Energy here in improve the quality of life for a lot of people. Thank you very much. Youve done a great job. John, i agree, we were talking the other day that weve all done well and weve also kept energy very affordable, very, very affordable and a lot of it, we never had any problems, we will keep it that way. Do i see dan back there, i was lucky and i thought that look like dan. I want to thank you for convening this meeting. The Trump Administration working with the congress in the u.
That seems to have worked because the dow which had been limit down has now bounced back and at the opening bell, we may be up 400 points. The dow will be up significantly at the opening bell. Same story with the s p and also with the nasdaq. Now, treasury secretary mnuchin, he says the Federal Reserve will have 4 trillion for loans to businesses. He says theres more where that came from and if congress doesnt get something going real fast, then they will go back to congress for more and he says the fed will provide any amount that is needed. Thats what the fed is doing right now. Thats the market. Thats the fed. Thats whats going on in congress. Now look at the price of oil. That has been a problem for American Energy producers and right now, weve got oil all the way down in the low 20s. Thats a continuing problem for texas, north dakota and for the Energy Producers and these energy stocks. How about the price of gas . That is absolutely tumbling. The National Average all the way down
All across the world whats the whats the gambit go ahead. Well thank you yeah the timing the gambit of the gambit as well as a separate thing all this turmoil and black swans concurrently happening around the world really kind of begs certain geo political questions in my opinion you have coronavirus more or less announced really kind of command saying on new years eve and then the rollout is fairly rapid and. In a sense the attention being kind of collapsing of as you said already low Energy Demand but as a demand especially within chinas collapsing then you have the announcement of the pandemic and the timing then of opec really saudi arabia and to a certain extent now u. A. E. You know just insisting on the pullback which would in turn affect the desired medium term desired from russia to capture more of the Global Market share within the energy space and at some point there was a budding of heads russia i sensed saw through you know a certain coordination issues you had unofficial
Since 1980 sevens a black monday crash caused by investor fears over handling of the 1000 crisis. Taylor is here next hour with the latest updates but 1st. Prices are battering the world economy. Ways and the issues next day with. Hello and welcome to cross talk were all things are considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm. Ends is anyones guess. Crude carnage im joined by my guess was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and political analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics sorry gentlemen crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1