Companies preparing for less than historic times. Cocacola and gm announcing thousands of job cuts. Isnwhile, capital one cutting borrowing limits on credit cards. This is coming just as stimulus money is running out and people need loans the most. Romaine interesting that they would take this action. The credit market dropped pretty dramatically prior to covid19. The number of credit card loans outstanding on a household basis dropped in the first quarter. It accelerated in the second quarter. That was the sharpest drop on record. I guess the question is what caused that. People were shopping and traveling less, but there is also a sense, and you see this in some of the data, that credit card lenders were tightening their standards. Interesting, this data on your screen only goes through the end of the second quarter. Talkede and we particularly this week of the Federal Reserve committed to keeping lower for longer. Come intohe drip feed the real economy . At the moment, we are seeing
Provider. Intelligence and state Department Officials from three administrations now on u. S. Policy toward china and russia amid the coronavirus pandemic. The Carnegie Endowment for International Peace is the host of this discussion. Welcome to todays program, u. S. China and russian china pandemic. In the 1951 scifi classic, the day the earth stood still, a planets is visited by an alien spacecraft bearing a giant robot and an emissary with a very sobering message, mend your differences or face obliteration. The movie concludes with World Leaders pottering their choice. It would be wonderful to believe whether in the form of a Global Pandemic or a threat to modern space that in fact the world would mend its differences but by the looks of things the rivalries and disputes have only grown, certainly magnified in the time of the pandemic and are likely to continue. They are accelerating preexisting patterns of tension and competition. Nowhere it seems is or are there tensions more evid
Tensions more evident than u. S. Relations with both a rising china and a declining russia. Both eager to reassert themselves both regionally and globally. It may well be that these three powers will emerge weakened by the current pandemic. Covid is a crisis for all. But it could be an opportunity for trump . This sense of vulnerability and loss compounded by three leaders focused on their own internal politics will make them more, not less, eager to ask to assert themselves. In that case, that assertion is not part of a dynamic triangle where the u. S. Can easily align with one, russia, or china and play one against the other. The sino Russia Partnership is a good deal more [indiscernible] adhesions int the that relationship is an effort to check u. S. Influence both regionally and globally. All of this presents a pretty grim picture. A list of issues from hong kong to ukraine to election interference in the south china bounties tohan taiwan to make your head spin. Mightes you wonder
Noise. Members are responsible for on muting themselves when they wish to seek recognition. Somebody is not muted right now. Can you check to see if you are muted . Required tobers are leave their cameras on the entire time they are in official proceedings, even if they step away from the camera. Hearing, theremote Committee Chair is officially closed. Members who sit with their devices in the room must wear headphones to avoid feedback, echoes, and distortion resulting from more than one person on the platform sitting in the same room. Use are also expected to social distancing guidelines including the use of masks, gloves, and wiping down the area in the hearing room. Questions, if the witness is also in the hearing room, it would help if you mute while the answer is taking place , because the answer is picked up by your mike and that echoes back and there is usually distortion. The rollcall is not necessary to establish a quorum in official proceedings conducted remotely. When there
Good afternoon. I call this meeting of the committee on appropriations to order. Before we begin, house rules now we have set up any mileage us to which members can send anything they wish to submit they wish to submit in writing in any of her hearings or markups. Our hearings or markups. Has been provided to staff. The first order of business is consideration of the energy and Water Development appropriations bill. For fiscal year 2021. Captornow recognize this ms. Captor to present the bill. Please let me also add my you for your honorable and dedicated service to our community and nation and for your recognition of the full potential of this bill. You will truly be missed. I am pleased to consider the energy and water bill today. It is a good bill. A bill that captures the spirit of ingenuity and independence of the American People. Are actually able to provide the most important Climate Change bill congress will pass this year. This bill provides the foundation of critical investme