Guys are this is the poor boy weve got a shocking story involving a french guy Bernard Arnault you gotta love it well bernie erno you know he owns a major versus luxury goods they do louis v. Tahn and all these other Luxury Brands out of france i remember a few years ago when notre dame burned down he was so generous and gave billions of dollars. I want to look at this notion of these billionaires increasingly showering us deplorable zz with their benevolent large jest right because bezos also recently hes now worth 130000000000 he recently gave 10000000000 he says towards Climate Change a few years ago about a decade ago it was mike microsofts bill gates and Warren Buffett who were then worth about 40 to 60000000000 and they said were going to give all of our wealth away to charity now theyre each worth over 100000000000. 00 and this is the process that were always talking about about the cantillon in fact all the money printing is going to these billionaires directly so were going to
Such as its worst day more than 3 decades as investors panic over the pandemics Economic Impact. Welcome to the program the Global Response to the corona virus pandemic is ramping up but the World Health Organization is improving governments to test far more people with a suspected infection the french president has declared war on the outbreak and is closing frances borders from 1100. 00 g. M. T. On tuesday to some ongoing we are at war healthwise not against another country or another nation the enemy is there and its advancing and that requires our general mobilization we are at war. All the action of the government must now be focused on the fight against the epidemic by night or by day nothing must distract us well the European Union has proposed a ban on all done essential foreign travel to the shang. The president of the European Central bank Christine Legarde has pledged to do whatever she can to stop the eurozone from breaking up while the British Government which has been und
Any minute now Vice President mike pence is holding a Coronavirus Task force meeting at the white house. As number of confirmed cases continues to rise across the globe. With at least 73cases right here 738 cases here in the u. S. Well bring you any headlines from the meeting this hour. Fox Business Team coverage. Blake burman live at the white house. Deirdre bolton is on the floor of the new york stock exchange. Phil flynn is watching the action in oil at the cme. Edward lawrence is on capitol hill. Deirdre, well kick it off with you. 1100 points on the dow is worth something. What a crazy volatile day. We closed at highs of the session which always makes people feel good especially in light of what happened yesterday. This idea President Trump is considering or launched the idea in a meeting this afternoon of zero payroll tax cut for the rest of this year. Certainly giving us a added boost to the markets if you like. As far as the groups that really supported the markets the most, yo
Oh max kaiser this is the kaiser report boy weve got a shocking story involving a french guy bernard arno oh man during all of this they say well bernard know you know he owns f. E. M. A. Traces luxury goods they do louis v. Tahn and all these other Luxury Brands out of france i remember a few years ago a noted on burn down he was so generous and gave billions of dollars i want to look at this notion of these billionaires increasingly showering us deplorable zz with their benevolent large yes right because bezos also recently hes now worth 130000000000 he recently gave 10000000000 he says towards Climate Change a few years ago about a decade ago it was mike it was microsofts bill gates and Warren Buffett who were then worth about 40 to 60000000000 and they said were going to give all of our wealth away to charity now theyre each worth over 100000000000 and this is the process that were always talking about about the cantillon effect all the money printing is going to these billionaires
Is planning on that or suggest that the Us Federal Reserve does that eventually they change the laws so that the Federal Reserve can buy Corporate Bonds well 2 of the 5 euro traunch as were placed at negative yields meaning investors are paying a single a rated healthy m. H. To borrow money thanks to the e. C. B. I mean this is really the end game because you had a period in Global Finance where banks got in trouble you know in 2008 they may have horrible loans and they were insolvent they became technically insolvent so the Central Banks got together and they said lets lower Interest Rates down artificially to near 0 so that banks can borrow unlimited amount of money at 0 percent Interest Rate and recapitalize themselves in paper over all the mistakes and it made a lot of billionaires as you mentioned jeff bezos bill gates Michael Bloomberg say made like a 40 or 50000000000 in the last 10 years based entirely on money printing from the fed and his relationship to the new york fed so n