Like cabal of elites who only know all the secret information about our Financial System our Monetary System and our economics and theyre going to rescue or save everything but theres seems to be like with this pandemic and also with the increasing what collapse of the economy and markets and then the bailouts and all that sort of stuff that theres an undermining of there are the worthy going on and that this is a moment now where we could have a rebirth i mean absolutely the only addition that i would say is that i dont think that thats just theres not just a single equivalent to the vatican in the sense that theres not just one a story thats being undermined i think theres multiple authorities being undermined you have on the one hand i think youre absolutely right to identify that the the Central Banks have been exposed not as bad by definition or any way just as extremely limited in what they can do and they keep doing the same thing over and over again they ignore and this is a pa
The words sound good just composers all the time i cant even begin to imagine a world class once they are similar so on a musical journey of discovery. With the whole thing. Starts of temper 68 to tell you. It is the european country worst hit by the coronavirus and now britain has officially entered recession with 2nd quarter figures showing the worst contraction in europe also coming corona virus infections in spain are back on the rise and the countrys Tourism Industry is again under threat and if the effects of the pandemic werent enough German Farmers say their weed harvest will fall drastically thanks to 2 years of drought. Im Chris Colbert welcome to the Program Economic growth figures for the 2nd quarter have been dismal across europe being have been hit by the coronavirus been demick the economy in germany shrank by 10 percent for example in france by 14 and spain by more than 18 percent but no contraction was as bad as the one in britain where the economy tanked by 20. 4 perc
Washington, do something, and do something on this august 7. Jonathan 1 away from alltime highs on the s p 500 coming into this one. Equity futures off by 0. 4 . The data 90 minutes away. Lisa we are getting the u. S. July jobs report. This is backward looking, and only goes back to the first half before the virus started to reshutter businesses. How much urgency is there for negotiations about the fiscal second round of support . I hear someone will be speaking on bloomberg television, national akamai Council Director larry kudlow, speaking with some guy that is on at that point. Tom oh really . Jonathan thank you for the promo. [laughter] lisa then tomorrow, Berkshire Hathaway reporting earnings. Really interesting to see what they are going to do with their 137 billion cash pile. This is a microcosm if the u. S. Economy. Interesting to see any guidance about how some of them are weathering this period. Jonathan the price action shaping up as follows. In the bond market, treasury yie
Of the surge in new cases. Ill have more on that in a moment. We are getting new information on the twitter hack. It wasnt just a handful of celebrities. 130 accounts were targeted and it appears to have been an inside job. That is serious stuff. Im not sure that Twitter Twitter is up, thats right. Im thinking of another stock. Okay, twitter is up just a fraction. It is serious stuff about twitter. Weve got an analyst on the show who says it might have been a test run for something much bigger. Time to drop your twitter account . We will ask the question and get an answer. More on that coming up, too. Lets get to the market. This week we have seen a shift away from big tech and towards smaller companies. The russell index of small cap stocks, for example, up 3 this week. The dow industrials, down just over 2 . This morning, we will open with a nice gain for the dow, up maybe 100 points, 26,600. Look at the nasdaq. Theres a bounceback for you, up 100 points at the opening bell. All righ
Notes, you can purchase. Tonights books by clicking on the green button below the speakers and we encourage everyone to do that to support our authors and also politics and prose. Tonight were going to encourage you to ask questions which many have. The back portion of our event will be dedicated to your questions as you click on the ask a question with the bond you can see where people have asked questions and you can vote most interested in hearingour authors answer. Lastly just a reminder that you can see us but we cannot see you so feel free to relax and get comfortable. So without further ado, it is my honor to welcome Stephanie Kelton, professor of economics and Public Policy at new york at stony brook. Shes here to discuss her new book the deficit myth. Tonight we are also luckyto be joined by Zachary Carter who is Senior Reporter at the Huffington Post andcovers congress, the white house and Economic Policy. Tonight he will be discussing his book the price of peace. Without any