By this because heres what were learning today today new report fresh off the press right so grocery prices are increasing and i mean in a big way theyre showing their biggest monthly increase in nearly 50 years last month this is according to the bureau of labor statistics in the United States government biggest jump meat and eggs youre now paying 4. 3 percent more for meat megs all in one month by the way imagine how much higher it could still get by the way youre going to be paying 1. 5 percent more for fruit and vegetables and 2. 9 percent more for cereals and breads just on average you want to talk jobs lets talk jobs new study there too this comes out of Stanford University it says that of all the people who have lost their jobs in the United States so far 60 percent of those are going to get their jobs back conversely 40 percent are not. Going to get their jobs back thats a big nut right now this is based on whats happened historically during recessions and its about a month lon
Restrictions, giving us clues as to how consumers may react durables down 14 june wti holding at 17 as energy is the only positive sector for the week a lot of discussion about 2,800, are we range bound where is the ceiling now markets giving all kinds of important clues. A lot of analysts, we follow them for a long time they wait and wait until theres a moment where they can go negative theres enough companies that have done well, i have every piece of research in front of me i dont have an upgrade. I have downgrade, downgrade, downgrade. Because the stocks have run, it gives these analysts a chance to say, uh, im so lucky. It went from 29,000 down to 18 it bounced back, and now i can get off and not look bad and thats the whole tone of this morning i find it curious. I think that in general the companies have done a pretty good job just they like to pull their forecast because who the heck knows. If dr. Gottlieb doesnt know what will happen, why should he expect these guys to know wh
Crude carnage im joined by my guest was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and geo political analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics sorry gentlemen crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1st in irvine because you got up early as for this program here all right it all happened quite quickly and a lot of analysts werent too surprised by the deal that the russians and the saudis had collapsed. The russians didnt go along with what the saudis wanted to do and the saudis reacted and now we have carnage on the oil markets here what is saudi arabias gambit here because you know in the if you look at its budgetary constraints it can afford to have low oil for a very long time and we throw in the coronavirus that is also hurting crude demand all
And the app developed in kenya thats now being used worldwide to help close the gap. And im christine want to welcome to the program oil prices have risen off to the old Major Oil Producing Countries agreed to slash output the production cost opaque joined russia and others and if it should be the oil price and an Energy Market ravaged by the coronavirus pandemic Global Oil Supplies will be cut by 10 percent. Its being called the biggest Oil Production cut ever opec plus which brings together the oil cartel with other producers like russia said it would cut world output by 10 percent. In the next 2 months opec and opec plus countries will reduce production by 10000000. 00 barrels for the 6 months after that they will cut production by 8000000. 00 Barrels Per Day and for the subsequent 16 months 6000000 barrels will be cut per day. Oil prices it down into freefall on worries about the fires and a price war between saudi arabia and russia but low prices also threaten the u. S. Shale oil
A recession back on us. And how much of an impact will the current to last pandemic have on society underway but we take a look at what happened all to the spanish flu outbreak than 100 years ago. Hello im christine want to welcome to the program oil prices have risen off to the worlds major producing countries upgrades to whats been called the biggest Oil Production catch ever the production cost opaque joins russia and others in an effort to boost the oil price and Energy Markets ravaged by the coronavirus pandemic Global Oil Supplies will be cut by 10 percent. Opec plus which brings together the oil cartel with other producers like russia said it would reduce world output by 10 percent. Within 2 months opec and opec plus countries will reduce production by 10000000. 00 barrels us for the next 6 months they will contradiction by it 1000000 Barrels Per Day and for the 16 months after that begins 6000000 barrels will be cut per day. Oil prices had gone into freefall on worries about th