Country. It is going to be a tremendous feeling up optimism. I think the Third Quarter is transitional. We are transitioning into, but it is a transitional period. I think it is going to do good. I think the Fourth Quarter is going to be fantastic. I think next year, all of the fruits of what we have done together between the doctors and Business People and yourself, thank you very much, you are a doctor, all the work from the task force, the people that have worked so hard, we will have a tremendous year year. You will start to see that in the Fourth Quarter, maybe even in pieces of the Third Quarter. That is very transitional. Is there a day of reckoning coming back out vonnie no, pres. Trump no, it is about growth. We could have done it the other way, you spend you dont spend anything and you are flat for years. We have to throw money at it. But we drove money of at the people that lost money unfairly. You saw people yesterday at the white house, they were down and out and became along and help to them. And helped them. We could have been flat for a long time as a country. I think you will see tremendous growth. It is a stimulus and it is a great stimulus. Now they want more stimulus and they are pushing for things, i dont know that we should be working with states that have been suffering through bad leadership or bad management for 25 years and we are supposed to fix that. We will have to talk about that. Maybe they should have brought that up sooner. I think i dont know him. I think he is a good man, who had a bad day. Then he wanted to be ernest hemingway. He starts writing long memos. You cant do that when you are the captain of a ship. Especially that, that is the ultimate, nuclear, aircraft carrier, the best in the world, 5000 crewmembers. He decides to become ernest hemingway. You cant do that. That being said, i said, he had a bad day. We all have bad days. I dont want to comment, but i have my feelings on it and i think he is a good man who had a bad i think the acting secretary is a good man also. He had a bad day. They both had bad days. That can happen. They were under a lot of pressure because it went very seeing so they will be him at a certain point. But i think he is a good man. They are both very good men. When you talk about spreading it started with two people, then 12, then i got a report yesterday, 851 people. Now 5000 people. It starts with a little group, then a few weeks later, how long is that, for weeks . Four weeks . 800 people. They are sailors, they are young, there is one death. 10 people in the hospital right now. But they will be we expect all to get better. There is one death. That spread like wildfire. Think of it. It was two, and 12, we could have ended at 41. I dont know, you thought so, right . Dr. Fauci just the right environment to spread like that. Pres. Trump it was a tough environment. [inaudible] pres. Trump i dont know where it came up. I would like to refer to these two people because i dont know where it came up. Youyou said that was a study that came out, someday came out with a study of 5 million people. Do i think we will . I think we will be ready we are testing millions of people. I think we will. We are testing millions of people. More than everybody else combined with testing. Somebody started throwing around 5 million. I did not say 5 million. Somebody said 5 million. It might have been the harvard report. They said 5 million. We will be there, but i did not say it. Somebody came out with a reporter saying 5 million. Sounds like a lot. Yesterday i said, whats with the 5 million . I think that was the harvard report. But we are going to be there at a certain point. We will be there but we are more advanced then any country in the world on testing and not only that, the testing is the best at not only the most. When you look at so many people, they love the Abbott Laboratories test. Did you have it today . Hes ok. Theyverybody comes in, gave him the test, in five minutes they know if they are ok or not ok. So far, we have not found anyone not ok. That was not even nobody thought of that two months ago. That was developed over a short period of time. Brilliantly developed by abbott. We will be at whatever number it is but we are so far advanced. It would be good if the price would give credit to the people that have done a good job. Are are always saying, you doing billions, but what about 5 million . Im saying, where does that number come from . I learned this morning, i think it was the harvard that would be nice. Nice. Ld be and we will be there. We did not say it. Who said it is a report. We have another report talking about a lower number. We are doing better than anybody in the world. The people who worked on it has been incredible. Is one other great reasons you have been successful in louisiana. With a lot of help from our federal partners in the best news we got as a state in all states got it was on monday when the admiral said our plans have been received last wednesday and they would be able to resource the testing kits. I dont know about 5 million for the country, a louisiana build twohour part with 200,000 per month. If you extrapolate that out, that comes close to i dont know what time period beg you are talking about. [inaudible] dr. Birx what we talked about and what was in the blueprint and talking with states, you can see, this is louisianas curve. They got to this curve of containment across the state with about 26,000 tests per million, or about 26,000 tests per million. So these tests i have been clear these are rna tests. You take the virus out of their nose, you have to correct the virus open, extract out of the rna, amplify the rna, then get an answer. That is have to mix all those reagents. Thats when you hear about extraction reagents and why they are needed. So what we had in the blueprint is a call to action to really work on developing antigen tests like we use for flu. When you use an antigen test in a doctors office, you can get to potentially that number. Im not sure we need that number, i dont want to validate that number, but with this current test in the complication of how it has to be run, that is not physically possible. I think thats what the admiral was speaking to. As we talk about heidi now, we continue to develop more testing at different platforms, but i think we need that new blake through to a new technique new breakthrough, a new technique, to get to the kind of numbers harvard is talking about. States have controlled and mitigated with a card number. As you heard from the governor, he did not shut everything down. A significantl number of louisiana ands louisianans working. I think whatever governor is working on, how do like at the most number of people back to work and still maintain a level of safety . What is the roadmap of criteria and testing come together to create that this will not be a testing although in peace. As you heard about the roosevelt i bring this up every time this ace of thematic spread will be important. Andeard about 800 cases ,ess than 10 in the hospital 800, 10 or 15 in the hospital. If you are only diagnosing symptomatic cases, you may be missing a large part of the spread. I think, strategically using testing in a new way, a monitoring way to proactively vonnie you have been listening to the president , dr. Birx, dr. Fauci, and more. Many comments there, but primarily the ones are on those reopening the economy and Gileads Remdesivir, which dr. ,auci sounds enthusiastic about and early results show to the experimental drug could treat coronavirus more quickly than standard care in a hospitalized setting. Dr. Fauci was saying it could become the first effective treatment for an illness. Dr. Birx suggesting we need a new breakthrough to get you a different platform on testing so we can wrap it up to millions of tests that are needed to get the economy functioning correctly. An upanddown day, but it is up 6. 5 on this positive news on remdesivir. More next, this is bloomberg. Vonnie this is bloomberg markets. Texas 20 georgia in lifting restrictions, the governor letting his stay at home or expire thursday. Bolles, movie theaters, restaurants will begin to reopen as part of the threephase plan. Correspondent for this now with a representative from texas. Joined by a republican from texas and author of the new portitude, it garnered praise from conservatives for its lessons on leadership as well as his experiences in the military. Thanks for joining us. Why did you choose to write this book and why do you think it is important that the country hear this message now . It a longed writing time ago before this crisis and it really it spun off of my experience with saturday night live. That story with saturday night live plays a small role in the book, i only talk about it in one chapter. I talk about it in terms of how we shame each other in our current culture and how we view shame and how we should take responsibility and accountability for our actions. Was atimately, what i saw degradation of our culture and degradation in the way we speak to each other this outrage culture, this outrage this cattle culture, we should feel offended at every thing, we should play the victim instead of the victor, now this phenomenon has been well documented by plenty of other books, talking about social media, how the media plays a part in outrage culture, talking about how politics plays a part, College Campuses play a part. I did not write that book. I wrote a book of solutions in order to telling you how to not be that person on both the cultural level and personal level. Lesson inter is a mental resilience. It is light on politics. Ive used political examples to make some points, but it is multidisciplinary. There is a lot of references to psychological literature, ancient stoicism, the bibles, all told her popculture. There are some funny parts as well. I want to talk about what is going on with the coronavirus. You, as well as senator tom cotton, introduced legislation that would allow for americans to sue china. How would that work . Now, youshaw so right cant go to a court into a foreign country because of the foreign sovereign immunities act. That makes sense, but in times like this, when there is growing evidence that the Chinese Government deliberately misled the world and hid the virus, for instance, they prevented Domestic Travel from wuhan but allowed international travel. They like about human to human transmission when they knew better. They have not allowed scientists to gain samples of the original virus, thats one of the reasons the cdc had trouble making a test in february and ultimately took longer than it should have. There is a lot of growing evidence. The question is, how do we exert justice and allow the American People to gain justice for that . This is one way. It does not mean you can go to your local lawyer and file a lawsuit. This legislation would limit the jurisdiction to a few federal courts that have a lot of experience handling large cases and i think in practice, it wouldnt look like a classaction lawsuit. The question is, is china going to bite us a check that we split between american . Probably not. Chinese doorget, the have assets in the United States. Many inone tool among which americans can feel like there is a sense of justice here. In terms of the Energy Sector you know this, indoor district, energy is important taking with geopolitics, are you disappointed at how the saudis have reacted and how the saudis have engaged in the Energy Sector in the past couple weeks and months . Rep. Crenshaw of course. There is a sense of the trail there. Supposed to be an ally of the United States. The first gulf war, we protected them from invasion from saddam hussein. Our presence there in the middle east protects saudis from iranian aggression and we would like them to act in kind. It is more complicated than that, it is not just saudi output, it is also this massive drop in demand globally that has dropped prices. Im disappointed, i want them to be more of a partner and decrease their output to a greater extent and we should continue to exert political pressure on them to do just that. In the meantime, we have to take steps to help our own oil and gas industry. Once they go under, its not obvious they will come back. We run the risk of losing the Energy Independence we have gained over the last decade or so. To those listening to have economic or environmental concerns, this is the problem, this is why it is hard for congress to do simple things like allow more purchasing into our Strategic Reserves. Of all times, we should be filling up our Strategic Reserves now because oil is so cheap. You should buy low and sell high. But we cant get democrats in congress to do that. Why . They hate american oil and gas so much, they believe we can operate an economy based on basicallywind and antiscience approach could crush this industry. We have to take steps to help domestically. One final question. The nexte staring down pound of negotiations with democrats, into how it relates to economic stimulus, what is one thing you want to see in the next round of economic stimulus . Economic stimulus needs to look like our economy. Thats the only way to inctionally reengage economic stimulus. We dont have this endless amount of resources at the federal level we can keep spending. Democrats believe they are the nicest and most caring politicians if they keep promising to spend more of your money. There has to be an upper limit. We cant keep going back to Congress Every few weeks to vote on trillion dollar bills. This is unacceptable. We did it once and it was fine. We needed to do it. But this notion that there is a cares two and cares three and cares four, that is not based in reality. We have to be more conscious in our thinking. We should be in washington, d. C. Week as was planned to actually debate individual problems and individual solutions to those problems. Democrats want to make you believe that we can only come vote on big packages every few weeks. Thats not true. We can come every day and actually debate and look at what problems need to be solved. When us the ppp funding running out . We should have had that done weeks ago. Democrats chose to delay at and claimed victory by saying, we got more money for hospitals. The Hospital Fund was not out of money. They added more money to a fund that is not close to being depleted. This is the kind of gross politics that is occurring right now. I look forward to keeping up with you and asking you more questions. Congressman dan crenshaw, author of that new book fortitude. Much more market news nest next. This is bloomberg. Vonnie this is bloomberg markets. Type or your latest business flash. Some of the biggest stories in the news right now. The ridehailing service eliminating 982 jobs, about 70 of the workforce. Another 5 were be furloughed and pay cuts for all around the next three months. The Aviation Industry collapsed in the face of the coronavirus pandemic, General Electric says installations of new engines have fallen 45 in the second quarter. That is after a drop off in the first three months. Ge is the largest maker of jet engines. Pending home sales down almost what he 1 from february. The coronavirus keeping potential buyers at home. The economy got worse. March is traditionally the start of p comb selling season in the United States. That is your Bloomberg Business flash update. Lets get a take up markets this afternoon. As we approach the final half of trading, a further boost after that oval Office Presentation of resultsad remdesivir from the niaid study, dr. Fauci sounding optimistic, saying the time from hospitalization to release was shorter on this drug and it attacked and ends on the coronavirus needs. Treating sick people and hospital who have the coronavirus. He mentioned the fda has not gone into approving this for the massmarket work wider use, but at the moment, it is talking to gilead about getting this drug to people who need it. The reason the niaid release this data is so those in the group would get access to remdesivir and it did show to work. The percentages were down from 11 to 8 for the mortality rate. It was generally considered the best yet, at least on attacking the coronavirus. Tune into Bloomberg Television later for special coverage of the fed, that begins in 34 minutes, 2 00 p. M. New york time. From new york, this is bloomberg. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Lets get to the first word news. President trump is crediting expanded testing for the one million cases the nation has reported, by far the most on the world. Speaking at the white house alongside governor john bel edwards, he said, thats hms amount. Its a number in one way sounds bad but is an indication our testing is more superior. Nearly 59,000 americans have died. The nations top Infectious Disease expert is sounding an optimistic tone about the developer and have a potential coronavirus treatment. Dr. Anthony fauci says Gileads Remdesivir shows clearcut positive effect in diminishing the time to recovery. Gilead sciencess early results from u. S. Study showed the experience drug helped patients recover more quickly than standard care. In italy, the number of new cases held steady over the past 24 hours. The total number in the country topped 203,000. Italy has the most deaths of persons with covid19 of any european country. Italy is in the eighth week of National Lockdown with some partial easing of restrictions on everyday life taking effect on monday. 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