Youre going to see everybody from every walk of life used this summer how i ive heard radio promotion sometimes tawdry despicable so whatever the human imagination can provide thats what youll see. And that brings you up to date and i will be back with more for you in about 30 minutes time in the meantime. And stay with us. Hello and welcome to cross talk were all Things Considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm how this all ends is anyones guess. Cross sucking 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 gent
A doctor returns to the hospital. Good morning, everyone. Tom keene in new york, guy johnson in for Francine Lacqua and london. We say good morning to all of you. It has been an extraordinary come historic we can. The queens speech, the Prime Minister hospitalized as well. Tell us about london. Tell us about the mood monday morning in london. Guy lets talk first of all about what is happening with the Prime Minister. Under u. K. Rules, there is no Vice President , there is no vice Prime Minister. So what is happening here is heominic raab has been will chair todays cobra meeting, the emergency cobra meeting, and he is effectively in charge of the government. Boris johnson is still in charge of the government, but with him hospitalized, there are growing calls that the Prime Minister needs to take a step back. The understanding is that he has been put into hospital for precautionary reasons, but we will wait to see the exact details. There is no new information be on the news that he ha
All across the world whats the whats the gambit go ahead. Well thank you yeah the timing the gambit of the gambit as well as a separate thing all this turmoil and black swans concurrently happening around the world really kind of begs certain geo political questions in my opinion you have coronavirus more or less announced really kind of command saying on new years eve and then the rollout is fairly rapid and. In a sense the attention being kind of collapsing of as you said already low Energy Demand but as a demand especially within chinas collapsing then you have the announcement of the pandemic and the timing then of opec really saudi arabia and to a certain extent now u. A. E. You know just insisting on the pullback which would in turn affect the desired medium term desired from russia to capture more of the Global Market share within the energy space and at some point there was a budding of heads russia i sensed saw through you know a certain coordination issues you had unofficial
Quote, dont go to crowded places. Look, thats going to slow the economy. We dont know by how much. Remember, friday, larry kudlow was on the show, told us that targeted stimulus is being considered. The fed is being urged to take steps, too. Were watching for any announcement. Heres the other big problem. The price of oil is tumbling. The saudis have launched a price war, promising to flood the world with a glut because russia wouldnt agree to production cuts. American drillers will take a huge hit. They cant make a profit at 30 bucks a barrel. 31. 89 right now. Look at this. Money pouring into treasury securities, pushing the yield way down to yet more record lows. Takes your breath away. We were down to 0. 31 at one stage. Now we are 0. 41 . Extraordinary. It has to be said, the United States is in a better position to weather this storm. That jobs report was a blockbuster. Look at italy. Its locking down a quarter of its population, locking it down. That lwill ensure a deep recessio
Since 1980 sevens a black monday crash caused by investor fears over handling of the 1000 crisis. Taylor is here next hour with the latest updates but 1st. Prices are battering the world economy. Ways and the issues next day with. Hello and welcome to cross talk were all things are considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm. Ends is anyones guess. Crude carnage im joined by my guess was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and 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 1