The question to come is one next the economic crisis . Dear i say, when next the markets . There was a broad selloff. Major groups losing 2 acrosstheboard. Technology having one of its worst performing days. Now there is no stimulus inside and the u. S. Election is on our doorstep, investors are in a riskoff mode. What would help . Spending. Ays fiscal bill dudley weighed in on that too, saying the fed needs to help the economy. Joe, there is definitely some riskoff sentiment. Joe absolutely. Obviously we have known for a little while that stimulus in the shortterm is the gone. Is gone. And the virus is really catching peoples attention here. This is a great chart. 97 of the s p 500 constituents falling today. That is more than some of the really ugly days we saw in march. We had a few days like this in june and also august. Nonetheless, there was no place hide. As you mentioned, all the major subsectors fell over 2 today. Romaine all right, lets bring in some upon zach, Bloomberg Cros
An extra blade but fatalistically and we see this time and time again so the us. At any moment they could get off this path in the camp of walking into the buzz saw that make conceivably but fate is drawing them to the blade you know we had Aristotle Plato socrates they understood the man right they understood what tribes us and we always tried to the buzz saw thats the way powerful people are powerful nations do it they just go straight into the buzzsaw theres no other option they can just like kindly walk off the stage you know its just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to fatalistic and unnecessarily and thats what makes a tragic speaking of tragic just look at that chart this is our deficit numbers plunging here it is the deficit serves the us record it is widest budget deficit in fiscal 2020. Since the 2nd world war that was a child she was what she was a massive global tragedy at th
Any. To. The max kaiser. For many years now weve been saying that a new Bretton Woods is inevitable. And this past week that i may have said exactly the same thing a new private words is coming oh boy stacy whats going well so many people and so much media has focused on the clown car show happening in the us elections that they kind of overlooked this whole i. M. F. Is calling for a new Bretton Woods which of course would be seismic it would coincide with the 50 Year Anniversary and 2021 is a 50 Year Anniversary of the us Dollar Standard remember we went off the Gold Standard temporarily and august of 1971 Richard Nixon said there were close in the gold window just temporarily until they could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through
They could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through cities trap that weve talked about which is the rising power china always ends up in conflict with the decline in power which is the United States in the situation we certainly see that heating out and you see that however even in the attitudes of people around the world here is a chart which is worlds leading economic power this question was asked to people in advanced economies around the world and among advanced economy publics 48 percent thought china was the number one power 35 percent thought the u. S. And amongst germans it was 55 percent china as a leading power and 17 percent of the u. S. And this is unfathomable a low says adam to use this idea of the 3 cities trap you know
Thedual listing could be biggest share sale in history. Softbank makes headlines again. Amassedid to have 20 billion in a stock trading movement despite a skeptical response from shareholders. Lets take a look at how markets are trading at the moment. At this as we are just getting some line through when it comes to the reserve bank of australias assistant governor. They are giving a speech saying it is more complex to assess the policy stance than it has been in the past. Due to the economic and fiscal conditions at play. We will continue to monitor some of those comments and we are also looking ahead to the rba Meeting Minutes as well. We are seeing downside in the first couple of minutes or so, trading in sydney on 5. 1 and then new zealand, that market is back to modest gains as we continue to process the outcome of the victory we saw from the Prime Minister and her resounding reelection effort over the weekend. The nikkei 225 seeing upside when we get into the open of. 25 of where