It or not. Im frank. Good morning. Good morning. Yes, good morning, everyone. Thanks for joining us. Frank, good morning and thank you for watering my plants this morning. I just got it. He gave my plants love. Ive been worried about them. I was going to say he must be talking about the plant on your desk. I know he didnt drive by your house. Oh, you do. Good to know. Hi, frank. Hi claude i cant. Happy saturday to all of you. Starting out with another round of june gloom. Were going to cool it down getting into your bay area weekend in and around the bay area this morning. The low clouds and fog. Takes a look. Cant see the Golden Gate Bridge this morning. Ill have better details on what you can expect for your extended neighborhood and the extended forecast in a bit. Thanks. Governor new . Worried about a growth in coronavirus cases. Santa clara county on the watch list because theyre being flagged for surges in transmission or hospitalization rates. Each county is listed on the map on
Position but at the same time as they say you know we how the wealthiest among us reaping in enormous revenues and profits here and the unemployment depending on who you want to look at it from 13 maybe 17 percent and thats not going to go away any time soon so whats really happening with the the economy or its a recession deep recession for many and its a goldilocks time for some. I think when you look at the overall picture and i mean this is if you go back of the origination of the Federal Reserve i think this is kind of their plan all along this is part of the rolls largest legalized. They can do has allowed the rich to get richer as times get tougher you know for years theyve had access to this cash and capital to borrow its only recently that the average guy can actually browse for my to get in so they threw a fry and bad conditions and actually. Always built well under the toughest conditions because they have the access to capital that others dont they have the ways they get th
Problems that i see here well some in me go to richard so many of the wealthy you know look at socialism as something of a point but i mean this is exactly what they how they have to have socialism for the very very rich and Concierge Service and you know the states not supposed to keep winners because thats against the markets but thats exactly what theyre doing theyre picking winners all of the time richard go ahead. Yeah i think i agree that we are in a. Zan state of capitalisms desperate effort to survive where perhaps i disagree a little bit is in looking at the government or the Federal Reserve or the treasury as somehow the place to start understanding whats going wrong i dont see it that way i see capitalism as a system that gets itself periodically into trouble lets remember the National Bureau of Economic Research and many other institutions have traced through the rise and fall of capitalisms instability its Business Cycles if you like every 47 years we have a downturn thats
Almost two and a half hours. [inaudible conversations] is a todays committee will come to order and i want to thank everyone for joining us here today and want to welcome the secretary and the administrator and thank you both for being here and all the members for being here. This is the first opportunity to hear from both of you about the enactment of the act in particular as it applies to Small Business. It is a landmark legislation and less than two Weeks Congress passed the largest Economic Relief package. They worked tirelessly to make it possible every single one participated on the leadership of the Ranking Member, senator cardin, senator shaheen and senator Collin Collins isnt a r of the committee that was part of the task force and it was invaluable in helping craft a lot of this and i want the record to reflect dot. We have invited senator collins does it and participate and rightfully so because of the extraordinary contribution. As every member thats been involved, the admi
A goldilocks time for some. I think when you look at the overall picture and this is if you go back to the origination of the Federal Reserve i think this is kind of their plan all along this is part of the Worlds Largest legalized. They can do has allowed the rich to get richer as times get tougher you know for years theyve had access to this cash and capital to borrow its only recently that the average guy can actually brought some money to get in so they threw a fry and bad conditions and actually ive always built well under the toughest conditions because they have the access the capital and others dont they have the ways they get the money others dont so their businesses are allowed to thrive well everybody else is out of business you come by where i am in chicago and almost every Small Business is going to be out of business i had time to selling is over not just wipe out an entire class of people because you allowed the wealthy theyre going to thrive through these. Tough times g