Today so lets dive right in. And we leave the program with a major hit to cryptocurrency hundreds of the billions of dollars were knocked out of the entire Crypto Market after tesla c. E. O. Elon musk announced the company would suspend vehicle purchases using bit coy now in the now infamous tweet posted wednesday must said the electric car maker is concerned about rapidly increasing use of fossil fuels for big mining in transaction especially coal which has the worst emissions of any fuel in the tweet must added tesla will not be selling any bitcoin as the Company Looks for other crypto currencies that use less than one percent of energy per transaction these concerns about Energy Consumption there are nothing new in fact weve talked about it quite a bit on this show back in february Cambridge University even released data showing big tricity consumption ranked above entire nations including argentina the netherlands and the u. A. E. On the news the price of bitcoin fell as much as 14
Hearing to examine the Small Business economy during the covid19 pandemic. They hear questions about minorityowned businesses, Paycheck Protection Program loans at the potential impact of a minimum wage increase on Small Business owners. This is two and a half hours. [inaudible conversations] good morning. I called the meeting to order. I want to thank everyone for joining us today for our first hearing of the 117th congress. I welcome all our new Small Business Committee Members, and welcome back those of you returning to the committee from the 116th congress. I want to make sure to note some import requirements. Let me begin by saying stenhouse and Committee Rules and practice will continue to apply during hybrid proceedings. All members are reminded they are expected to adhere to the standing rules, including decorum. Regulations are members to be through video connection, throughout the preceding so please keep your cameras on. Also please remember to remain muted until you are rec
Coronavirus impact on the nations Food Industry, Small Business can be heard from representatives of the industry on supply chain issues, loss of customers, perishable food than facility cleaning and maintenance, this is just over 90 minutes. I call this hearing to order. Without objection the chair is authorized to declare recess at any time. I think everyone especially our witnesses for joining us today for our committees private hearing. I want to note some important requirement. Let me begin by saying the Committee Rules and practice continue to fly during hybrid proceedings. Members are reminded they are expected to adhere to these rules including decorum. During the period designated by the speaker the committee will operate in accordance with House Resolution 965 under subsequent guidance from the rules committee in a manner that respects the rights of all members to participate. House regulation requires members to be visible through video connection throughout the proceedings
To participate in another proceeding please exit this one and like back in later. Any that a member encounters technical issues that prevent them from being recognized from their questioning i will move to the next available member of the same body and will recognize the member of the next appropriate timeslot provided they have returned to the proceeding. In the event the witness loses connectivity during testimony or questioning i will preserve their time as staff address technical issue. I may need to recess the proceedings to provide time for the witness to reconnect. Finally remembered to remain muted until you recognize to minimize background noise. Over the last few months the outbreak of covid19 has led to an unprecedented Public Health crisis and creating a dire economic crisis for small firms. Three out of four businesses are experiencing a decrease in revenue and over half of Small Businesses are concerned about being forced to close. Small businesses across the Food Supply
17000000 americans earlier this Week Senate Republicans released a nearly one trillion dollar relief package of their own this was to counter the 3 trillion dollars package that the House Democrats passed back in may talks are scheduled to resume through the weekend but a deal still seems pretty far from sight. Commodities in crypto markets are heating up around the world as traditional equity markets take a breather from their epic rally last quarter well it seems like we are seeing a big asset rotation coming on. In the boom bust cohost Christine Christie chinese regulators theyre rushing to curb Precious Metals trading in order to temper speculation how dangerous is this for or the speculative market while this could be very dangerous especially when you take into account the huge middle Class Population in specially in a country like china weve seen this before and there was widespread market from a previously which created bubbles we had. Tech bubble we had an i. P. O. Bubble we h