Falling 973 point, but the real damage was done in the small caps which got a lot smaller today. The small cap indexes, you name it, you can throw a dart and hit one, it was down 7 to 8 . Small caps on concern of the domestic economy taking it on the chin you also have to look at the big banks. Big bank stocks also in the red. You heard the gang before just talking about it and also focus on boeing. Boeing losing another 12 today. Another very difficult day for boeing and the airlines in general. Just a reminder, we of course, at 5 00 will be monitoring that White House Coronavirus press briefing when it occurs, if you have marketmoving headlines or headlines that you need to know, we will bring you into that as always, waiting for it to begin and well dip in once or twice during the show, as well welcome, everybody as said, im Brian Sullivan and we have a great trader panel we have tim, karen, dan and guy. The gang is all here, and karen finerman, i want to begin with you because i kn
Autarky basically returning industrial selfreliance policy autarky for those unfamiliar was an economic and industrial policy of selfreliance wherein a nation need not rely on International Trade for its economic survival this is not to say that the nation rejected International Trade or isolated itself from the Global Economic order rather it merely could survive on its own if necessary and i know with the left wing you know hamilton was a huge hit over the past 5 years 6 years and hamilton was one of the big proponents of this notion of our talk yeah i am one of the countries that was really the premier autarky in the world before that coronavirus would be friends france was often described as an autocracy to some degree more though probably than the other of the big countries of the industrialized countries that had a mindset of individual sovereignty farming ourselves you know everything is a local. All if you go to a restaurant france you flip over the cutlery and a says made in f
Sense of Self Reliance its going to be a difficult adjustment dont dont get me wrong theres going to be a huge just meant but it is ultimately a hyper amerikana shows like ours and many other people mostly on blogs and in alternative things hanks theyre called heterodox thinkers and many of them by the way have been marginalized over the past 3 years since trump was elected because of the whole conspiracy minded ness of the divine class the celebrity thinking class on television the philosophers in our think tanks and theyve conspired to basically say you know try to maintain their domain jevon by data and driven by efficiency and driven by this consistency of globalization they expected to all say the same and people have been saying not just you and us but all the other people put on these lists of russia gators that are supposed to be marginalized if weve been saying that this. Globalization how its been managed especially in the past 1020 years is it well since china became part of
Reliance was a foolish consistency is the hobgoblin of little minds adored by little statesman f. Loss of furs and divines i would say the philosophers are modern day think tanks and the divines are celebrity cable news hosts and they have these little minds that focus just on certain numbers the stock price number efficiency globalization making sure everythings just in time and this is what theyve been seeking and the think tanks and the cable news has been telling us this is the best thing for basically everything for the American Economy and what we found out so far during this crisis caused by the pandemic is that we have 0 Self Reliance as a nation where basically sitting here waiting for some miracle some you know there is a lot of praying going on in the white house and the Vice President s office but theyre waiting for somewhat some sort of personal Protection Equipment respirators ventilators all these things to just magically appear out of thin air when we cant make them our
Lost his principles and bowed to the interests of the us gov out. Of all the stories have been quite sure thirst for news head on over to our web site r. T. Dot com for countless articles and interviews thanks for tuning in this hour. Hi im max kaiser this is the kaiser report i dont know about you but so far this pandemic things working out great in america i say make america transcendental list again you know back in the 1820 state 140. 00 s. And the american transcendental is a movement which we talked about how to rely on subjective intuition rather than object of empiricism and thats really the heart and soul of america this pandemic is bringing in a whole new era of selfreliance this plays great into the american soul. Speaking selfreliance and making sure my wire here is plugged in yes selfreliance ralph waldo and emerson one of the most famous quotes from that essay called Self Reliance was a foolish consistency is the hobgoblin of little minds adored by little statesman f. Los