Nonprofit offering loans that dont have to be paid back and getting ritd of something most travelers cant stand early today starts right now glad to have you with us im Frances Rivera im phillip mena. Protests in portland are marred by violence we other seeing clashes between groups on opposite sides of the political spectrum across the country. Reporter protests literally turning into political battlegrounds. President trump blaming what he calls radical left mayors and governors and promising law order ahead of a tuesday trip to wisconsin despite the mayor urging him to stay away. The wave of violence and destruction has occurred in sts dominated by the je point d Kyle Rittenhouse after killing two people, injuring a therd he was trying to get afrom them and they vie lantly attacked him joe biden condemning violence on both sides. A president that sews chaos. Reporter and blaming the president and his followers for the growing unrest he may believe mouthing the orr makes him strong b
On in berlin thanks for joining us a rare bit of good news on the economic front in these troubled times germanys central bank the bundesbank says its expecting strong growth in germany in the summer of this year but its also warning against expecting a return to precrisis Economic Activity too soon. The days when there was not a soul to be seen on german streets are over with the lifting of coronavirus restrictions life is returning to normal since the low point in april things have been on the up. In the 2nd quarter the German Economy slumped by 10 percent the biggest fall since world war 2 the Balance Sheet for the Current Quarter looks set to show a big increase according to the bundesbank. The impact of the coronavirus in the broader economy has been relatively small the engineering industry shed over 30000 jobs in the 1st half of the year with over 1000000 employees in the sector this is bearable. The Services Sector and private consumption also did not completely collapse as the
That it would be premature to speculate on that possibility. That seems to be one of the factors driving the market today. That theositive news market believes it is going to get on the vaccine. That is why we are seeing the s p up. 6 . We have the euro trading higher. The dollar continues to move lower. We will talk more about bonds as well. Is the bund overvalued . Lets get back to that subject of the coronavirus pandemic. Many European Countries continue to report a surge in cases. Is the Bloomberg Intelligence director of research. We are starting to see a pickup in a number of cases around europe. Has europe missed his opportunity to control the virus . Many people were lauding it for having been able to do so. You have seen rules loosened over the summer we have seen rules loosened over the summer and cases are climbing back. Surprised. Ot if the authorities in charge are when we loosened the restrictions, when bars and clubs opened with very likely people who cannot control thei
Out of congress as opposed to just these executive orders from the president that are taking quite a bit of heat over the weekend. Yeah, look, david, i think that there is a sense initially that it was a white house grab and it kind of went through the weekend, there was a recognition that, wait a second, maybe it is a grab if youre going to give 400, 100 has to come from the states and many of the states including red states are in trouble. The thing that is most compounding people is that 12 of the people who make 80 to 100,000 get this bizarre payroll tax cut when the problem is not the people employed but the people who are unemployed. I think that its arer so counterintuitive our old friend larry kudlow always believed in that. We have secretary mnuchin right now, which is terrific lets do it lets do it. Go ahead, jim. Mr. Secretary, always good to see you on squawk on the street. We get a little bargaining done on the show. How have you been . Good morning. How are you . Im doing
Blib rated and driving you bonkers. Ive been telling you to keep your money in a barbell. Tech plays soaring and some recovery stocks that rally when we feel more come nfident abouth future today the covid winners got hammered but the recovery stocks roared transports, travel, leisure, aerospace, retail dow surging 358 points and s p advancing what a streak. The tech heavy nasdaq losing. 39 . If you own none of these winners, you had a miserable day. If you follow my barbell advice you offset losses with good gains from the most beaten down parts of the market. Why is this so important why does it matter you protect your portfolio from a group that made you a ton of money . You need to understand something about portfolio management, a skill i spent 40 years learning i try to teach every day think of this show as a continuing Education Course for both of us for years some of the smartest people are preaching the same gospel its a fools game and impossible to consistently beat the marke