And technology outperforming in todays trade. Theyre all up more than 1 hers at the moment weve got 59 minutes left to go in another wild session. Green across the screen once again. The company now pivoting to very different space. Well speak with the ceo about the strategy shift plus, former ceo getting in on the spac craze with a Blank Check Company. Lets get straight to the big stories were watching mike santoli tracking the market on this first day of the Fourth Quarter. Steve leezmiesman has a look ate Economic Data and we have the latest on the stimulus notions its been a little jumpy. A little fitful action it is shuttling up and down within that range. It seems as if the market is trying to shake out the people or the al go riridg al algoriths the year to date chart, we remain here. We keep pointing out its kind of this, you know, upper range above the year to date break even level it is about 1 , 1. 5 up from this level in the 3400s. People say maybe represent an upside break
To cross and more im joined by my guest william look there are employer hes an assistant professor of economics of Florida Atlantic university as well as a director of the sound money project at the American Institute for Economic Research and in beijing we crafted to go he is the Vice President of the center for china and globalization harjo in crosstime group in effect that. Just a few hours ago unemployment data was just released now were up to over 20000000 people applying for unemployment in the United States who would have thought even 6 weeks ago its extraordinary and being a historian by trade i know the history of the Great Depression depression very well not only in the United States but globally so when i see these numbers come out its terrifying to hear how it is you know this pandemic will be resolved its only a matter of question and resources and patients because i understand that because ive been locked down for a month now and its getting very very tiresome. How is thi
Out its terrifying to hear how it is you know this pandemic will be resolved its all a matter of question and resources and patience because i understand that because ive been locked down for a month now and its getting very very tiresome. How is this pandemic going to impact a recovery if there is a recovery and i never thought in my lifetime i would ask about is there going to be a recovery because were seeing such amazing numbers that are just terrifying for the average person frankly go ahead william that we are were dealing primarily with a temporary supply shock right its a pandemic and so the most likely outcome is. Recession that is a recession that has a recovery thats just as quick as the downturn. You know the virus is eventually going to run its course and when it runs its course. Most of us are going to return to the to the Consumption Patterns that we had before will consume the same goods and services and most of us are going to return to the jobs that produce those good
A recovery that just as quick at the downturn. You know the virus is eventually going to run its course and when it runs its course most of us are going to return to the to the Consumption Patterns that we had before will consume the same goods and services and most of us are going to return to the jobs that produce those goods and services but there there are 2 factors that could significantly change that it could change the the shape recession into a huge shaped recession where the depth of that recession the low output lasts much longer and the recovery kicks off much later in the 1st in the duration of the pandemic the longer this virus blasts the more businesses are going to fail and when a business fails the the labor and the equipment of that business have to get reallocated to some other business and that takes time delaying the recovery the 2nd and. Maybe the thing that we have a lot more control over is our policy response now some of the policies that weve been active here i
Beijing we crafted to go he is the Vice President of the center for china and globalization carjacking crosstime groups in effect that means you can jump in anytime you want and i always appreciate it ok lets go to william 1st in florida. Just a few hours ago unemployment data was just released now were up to over 20000000 people applying for unemployment in the United States who would have thought even 6 weeks ago its extraordinary and being a historian by trade i know the history of the Great Depression and the depression very well not only in the United States but globally so when i see these numbers come out its terrifying to hear how it is you know this pandemic will be resolved its only a matter of question and resources and patients because i understand that because ive been locked down for a month now and its getting very very tiresome. How is this. Pandemic going to impact the recovery if there is a recovery and i never thought in my my time i would ask about is there going to