Flow in wealth in macross where all things are considered im Peter Lavelle the outbreak and spread of the corona virus has become a black swan event for the Global Economy there is no longer whether the u. S. And other economies will slip into recession the question now is how deep and how long the recession will last its going to get worse before it gets better. Crosstalk in the corona recession im joined by my guess and in houston he is president of Lipo Oil Associates in new york we have helen i need skee she is an american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right cross talk rose in effect that means you can jump in anytime you want and i always appreciate andrew in houston let me go to you 1st. Here. I guess this is the 2nd shock in as many weeks for you because youve covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve
China itself begins. Programs depending on where you may be in the world this hour coming up to see. The outbreak and spread of the corona virus has become a black swan event for the Global Economy is no longer whether the u. S. And other economies will slip into recession the question now is how deep and how long the recession will last its going to get worse before it gets better. Recession im joined by my guess and houston he is president of Oil Associates in new york we have helen i need. He she is an american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right cross talk rules in effect that means you can jump in anytime you want and i always appreciate andrew in houston let me go to you 1st here. I guess this is the 2nd shock in as many weeks for you because youve covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets
An american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right cross talk rules in effect that means you can jump in anytime you want and i always appreciate andrew in houston let me go to you 1st here. I guess this is the 2nd shock in as many weeks for you because youve covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what direction we need to go into but there seems to be quite clear that a recession is going to be upon us and very very soon if not were in it already go ahead and what are your thoughts. Well i think thats right because if you look around the world we have School Closures we have industries telling people to telecommute we also have really the shutdown of the economies say like in italy where everyone is staying at home or in spain and we
We consider. The outbreak and spread of the coronavirus has become a black swan event for the Global Economy theres no longer whether the u. S. And other economies will slip into recession the question now is how deep and how long the recession will last its going to get worse before it gets better. In the corona a recession im joined by my guess and in houston he is president of Oil Associates in new york we have helen i need ski she is an american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right crosstalk rosen a fair. That means you can jump in anytime you want and i always appreciate it andrew in houston let me go to you 1st here. I guess this is the 2nd shock in as many weeks for you because you covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what
Weve got record highs, dow surging. S p gaining. Nasdaq 1. 06 texas earnings forecast and yesterdays trade deal with china. At the same time individual companies are taking action to fight Climate Change in a way thats unprecedented these are issues that could hurt earnings per share yet the market doesnt seem to care. The market seems to like it. Its insane. For my entire life, especially the last 40 years, you have companies doing anything they could to make a profit and the government working to restrain them. It was the government that forced big business to care about clean air and clean water. Thank you richard nixon. We took it as a given companies would try to get away with anything they could to maximize profits for their bosses the shareholders this endless cost for growth, wall street didnt care at all it was amoral. And if you want to be a good investor, you ordered this stuff. But in eamon yumtal twist weve seen a shocking paradigm shift suddenly capitalism is trying to re