As part of our ongoing effort to engage our community from afar we are now offering events like this one in addition to our regular evening lineup. Thank you for being here today. Our distinguished guest this afternoon needs now introduction. Hes one of the bestknown living economist as most influential voices in the fight against inequality. Thomas pikelly is here to discuss his eyeopening and audacious new book capital and ideology. He is joined by the former chief economist on the Us Senate Budget committee and professor of economics and Public Policy at stony brook university. Her new book the deficit with is available for preorder. Just a few housekeeping notes. We want to hear from you. He will answer your questions after his talk. How does that work . Look at the bottom of your screen. You will see a button called ask a question. Use this space to pose a question about capital and ideology. You can also update someone elses question if you find something there that it really hop
Half an hour ago pretty good turn around yesterday. Interesting, cramer, the night before said it would start at 230. But he said it would get sold out the day before i watched as the dow improved. The s p was stopped. I was like, figures. At the end of the day, thats called in the money. In the money in the tacos now, you change the story. I said it from the get go joe, it will cost me a lot less to buy the tacos. But you have to listen to me. You are used to that. Becky, what do i get . I get to not buy you a dog somehow. You won you were complaining about this you are such a welsher you set up the terms of the deal and came up with the whole idea. Suddenly, you got your whole dog expense. Oh, well. Did you talk about yields did you see oil . I didnt. I saw now that it is above 27 a barrel still the june contract. Yield on the 10year around 0. 6 the oil prices watching this, the wti Contract Trading now that is something we have been watching closely because of the overall demand pic
Food and that have the relationships of universities and it doesnt mean there arent other Companies Like salesforce or huber that are doing Amazing Things for through these Nine Companies the entire ecosystem touches them in addition to all the things i just mentioned they are building the framework and the silicone chips. All roads lead to these Nine Companies on the challenge that i have is the case the Artificial Intelligence is not just bill to create better microwave although that school to optimize our lives using data as current see what does it mean when we relegate that to a handful of companies and those working at these companies . That dont look like us and dont have the same worldviews as us what are the longerterm downstream implications . Three of those companies are in china. They are publicly traded companies but have lived in china and anybody who watches china knows that publicly traded companies are still under the thumb of beijing so there is no escape if you are a
Handling of the pandemic. Also ahead flash floods in kenya leave a trail of destruction with several people dead and many displaced. And im piece them to the sport after 104 days chinese superleague club who hands are finally back home after being unable to do so because of Coronavirus Travel restrictions. For weeks they were the center of the coronavirus pandemic but now European Countries are starting to see a glimmer of hope with daily death tolls and new infections dropping many governments are taking tentative steps to lifting constraints on daily life germanys reopening some shops and allowing limited School Access to the federal government the Central Government has left it up to leaders in each of germany 16 states how much they want to reopen and when after a month long closure Nursery Schools are now open in norway thats despite polls there showing nearly a quarter of parents still do have concerns shutters are also lifting across poland denmark and the Czech Republic infecti
In europe. European stocks hitting a 20 bounce up from the bear market in 2020. A little bit of selling on the bond market as growth questions continue and Oil Takes Another leg lower. Lets get right to the bank numbers. Jp morgan shares up by about 2 . They reported blowout fixed income and trading revenue. With us now is Alison Williams is sonali basak. Sonali provisions for loan losses are really skyrocketing here, more than 8 billion expected. A lot of it is coming from the consumer business, where those provisions are more than 5 billion. On the other end of the loan but, we are expecting lower Net Interest Income this year. Also, as one would expect with lower interest rates, that would come into about 55 billion, lower than the 57 billion dollars initially estimated. On the bright side, we saw Net Interest Income for the quarter come in pretty healthy, and fixed income revenue beat by almost 1 billion. Trading was able to hold up. The question is, wasnt able to hold up well in a