Hemisphere this as analysts Capital Economics have predicted at least a 10 percent decline in the nations quarterly growth this due to the outbreak while russia still seeing a surge in cases with most of its capital and largest city moscow the virus lock down combined with the global drop in oil prices well theyve contracted russian economy activity by one 3rd according to the countrys federal tax service chief meanwhile the u. S. Still the global epicenter of the disease the u. S. Unemployment numbers are still growing the last week another 3200000 people filed for jobless claims bringing the 7 week total to 33500000 this while President Trump has renewed his calls for the Supreme Court to strike down the countrys Affordable Care act also known as obamacare this is a move criticized even by his own general attorney or attorney general rather according to sources. Obamacare is a disaster but we run it very well were going to replace obamacare with Great Health Care at a lesser price an
A far better measure is the ten Million People who filed for jobless benefits in the last two weeks. Fed governor lockhart just told maria the jobless rate is already more like 10 . Clearly, we are in an employment crisis, and another report that comes up at 10 00 eastern will likely show the Services Sector in collapse. Thats a strong word to use but its accurate. Later this hour, we are going to talk to larry kudlow, the president s chief economic adviser. I will ask him how bad is it and he will spell it out. Look, with nearly 300 million americans under a stayathome order, the economy is shut down. Morgan stanley says that between now and june, the economy will shrink by 38 . That would be a depression, the likes of which we have not seen before. Travel, shut down. At the airport tsa checkpoints, they are processing two million fewer passengers every day. Thats down 93 from a year ago. Those flights that do take off, virtually empty. Public transit ridership, down 75 . Commuters ju
Trading here. What is really interesting is the sentiment on the floor, right . Ive been coming down here for the last three weeks. Weve seen very, very extreme swings daily and traders right now are basically desensitized to what theyre hearing and what theyre seeing and these big movements in the market. It is not to say theyre not worried about it, and theyre not worried what will come out of wall street. The question, and the point they make to me, this virus needs to get to the point where it peaks and starts to trail off. That is where the markets calm down. Not until then will we see volatility subside a little bit. You see the Market Selling off 1000 points today. The point made in the previous show. There was a lot of hope yesterday that washington would come up with some sort of a stimulus solution. Right now, folks are kind of scratching their heads, wondering whatever they come up with, if it will be enough. Were watching the dow down 1052 right now. The the biggest dow dra
government says it will finally provide evidence of how while away is a threat to u.s. national security we have a live report plus what is go happening on the ground in china during the fight against the coronavirus we speak with a reporter in china to get his perspective now that richard has taken place has the u.k. quietly lifted something since against russia we take a look at a report you won t see anywhere else a lot going on this very busy day so let s get started. and we begin as the united states says it will finally provide evidence that while way is a national security threat officials now say that while waking covertly access mobile phone networks around the world through back doors designed for use by law enforcement. stop. so back doors the same ones that the u.s. government has demanded that cell phone companies build into their systems right and yes back doors that the attorney general and senators like lindsey graham are demanding that facebook and apple add
What are the economic impacts. Here is the man that is really important. A lot of misgivings. They put out a tweet to heaviness. And then not too long ago. They were saved a terrible mistake for the house to go through this. They will do escort it will be important. Theres no reason to hurry it. We need to move forward with it. This eliminates the individual mandate tax on 8 million americans. Trying to force them to buy obama care that they didnt want to buy into on the taxes on businesses to force them to make their employees move into this program. It removes over a decade 1 trillion in taxes on the American People. If you have a flexible savings account. The tax on you is removed. The tax on Health Savings account that is removed as well. The tax on medical devices which makes the cost there. The tax on insurance companies. That has been removed. This is a trillion dollars in lower taxes. And it allowed states to have a lot more leeway on how they handle medicaid. It reduces the de