Deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what direction we need to go into but there seems to be quite clear that a recession is going to be upon us and very very soon if not were in it already go ahead and what are your thoughts. Well i think thats right because if you look around the world we have School Closures we have industries telling people to telecommute we also have really the shutdown of the economy say like in italy where everyone is staying at home or in spain and were seeing that spread to parts of the u. S. Most notably San Francisco and of course the World Economy is so dependent on Consumer Spending travel tourism and youre seeing those industries really collapse and close and of course that is going to lead us into a recession i think not only here in the u. S. But worldwide ok helen it seems to have this kind of Ripple Effect from 2008 and i keep hearing the words bailout in stimulus and things l
Let me go to you 1st here. The i guess this is the 2nd shock in as many weeks for you because youve covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what direction we need to go into but there seems to be quite clear that a recession is going to be upon us and very very soon if not were in it already go ahead and what are your thoughts. Well i think thats right because if you look around the world we have School Closures we have industries telling people to telecommute we also have really the shutdown of the economies say like in italy where everyone is staying at home or in spain and were seeing that spread to parts of the u. S. Most notably San Francisco and of course the World Economy is so dependent on Consumer Spending travel tourism and youre seeing those industries really collapse and close and of course that is going to lead us into a recession
Going to send 500 ventilators to the national stockpile. They stocked up before the surge. Is there free rent during this crisis . A controversial proposal coming from two city councilmembers. No rent for up to three months and a lot of landlords are not happy with this. Scott bud man is in san jose with more. Scott . The new plan would let renters apply for a grace period where they wouldnt have to pay rent for three months. Not a delay, just no payments for three months. It would help a lot of the People Living here, but its also leaving Property Owners and managers asking, whos going to help them. With job losses mounting, many san jose renters are facing a stark reality. They may not be able to come up with the rent. We want to raise our children here. We want to take care of our parents. Please keep us home and help our community before its too late. Two san Jose Councilmembers presented a plan via zoom. Fully waive rent for three months. Its a plan the city council will consider
Crosstalk in the corona recession im joined by my guest and live in houston he is president of Lipo Oil Associates in new york we have helen i need ski she is an american journalist with r. T. And in Great Barrington we cross to pete earley he is an economist with the American Institute for Economic Research all right cross talk rose in effect that means you can jump in anytime you want and i always appreciate andrew in houston let me go to you 1st here. The i guess this is the 2nd shock in as many weeks for you because you covered the oil markets and now we have the process being rolled out to deal with the corona virus when weve seen markets crash and we see a lot of disorder and a lot of questioning of what direction we need to go into but there seems to be quite clear that a recession is going to be upon us and very very soon if not were in it already go ahead and what are your thoughts. Well i think thats right because if you look around the world we have School Closures we have i
Hayward, workers wore homemade masks but target comiin thiweek also ems appear to have an issue with paper mask and back at the mcdonalds, they also had masks and gloves. Lets go reporter jeremy carr is not as lucky. He works at jiffy lube and says employers are failing their own workers. Can get to a restaurant and get this. And this is their idea to keep us safe . Thats not all right, man. Reporter its taken some time but lawmakers are finally working on a bill to provide food and retail employees sick pay and protection from retaliation for calling in sick at the end da tforests or ermaking a killing right now like walmart and target. Theyre never going to give anymore than they have t and mcdonalds released a statement saying we are disappointed by todays activities as they do not represent the feedback we are hearing from the majority of our employees across the country where 99 of our drive thrus are open to serve the Health Care Workers on the front line the way, if you d abt wn