Nosediving 3. 97 . At one point it looked like we would go to war and we were actually lucky, lucky it was only down that much because if things dont break right, were going to be experiencing a lot of weeks that are worse than the depths of the great recession. Why . Were fighting a twofront war in this country. We need to beat the coronavirus, a scourge thats unrelentless easy to catch and requires hospitalization, far more than we can actually provide. At the same time we need to preserve the economy, an economy in many ways is no longer open for business there are 100 million workers who could potentially lose their jobs if we dont shut down covid19 soon. Peoples life savings are going to be pulverized as companies suspend dividends and people sell like a mouse in a fear of an unrelenting panic because they need cash, need cash right now. Its like a slow grind financial hell apocalypse. The plummeting of oil isnt helping either we need to get crude back over 30 or the last of the p
You told me things were very frothy a lots happened since then. The wework had just come out. We know what happened with the wework blowup theres been this sense that you saw with the wag news. Theres been these companies have raised an extraordinary amount of money and pitching themselves as Tech Companies that really went Tech Companies. Wework was not a Technology Company. Swag not really a Technology Company, and the combination of trying to get the technology valuations on companies that shouldnt be trading that way and companies that are just raising too much money and have no financial discipline. Hopefully some of that is coming to an end but i still think valuations are going to be crazy for a while. I think, if anything, this signals the beginning of the end of these shoot the moon sort of Business Plans what i mean by that is we just they dont work for two reasons. One, companies are raising a tremendous amount of money and they do that primarily to try and have some sort of
Day of november on the backs of home depot and kohls, both tumbling after cutting outlooks and comps forecast. The record rally for stocks, it rolls on. Futures as you saw pointing to renewed all time highs at the open and vaping crackdown. California suing juul for marketing to teens new york set to make a socalled major announcement of their own later today. Well start with retail, though, home depot shares down on the premarket, earnings did beat but sales missed and company cuts the full year outlook saying integration is not delivering as quickly as they thought. Kohls tumbling on weaker guidance i was curious to hear you say a moment ago that lowes is getting to be the better buy because well see that print tomorrow. Yes i have to tell you, i think Marvin Ellison energized the place. One thing that happened was that lowes fell behind home depot technologically. They didnt have the systems that is no longer the case as Marvin Ellison rolls out technology at every single lowes, and
Tumbling. And a new u. S. Cyber agency says priority number one, countering threats from china. How it plans to keep the tech supply chain safe. First, ramping up the trade war. Eared down onmp b china in a series of tweets, writing in part, the vast amounts of money made and stolen by china in the United States for decades will and must stop. Our American Companies are ordered to start looking for an alternative to china. For more i want to bring in sarah mcgregor, who has been following the back and forth. Talk to us about this new round of tariffs, soybeans, cars, oil. Who will be hit hardest if these go into effect, and how . The fact that china is retaliating when the Trump Administration announced these new tariffs, china said, we will respond. 75 billion worth of u. S. Imports isnt a huge number, but politically sensitive products, things like agriculture, cars, it hit some of those states where they produce these items where trump has his support base. Emily sarah hang on a mom
Joel webber. We have been talking about a must in every issues and the fury broke forth this summer. The thing that happened was the airport in the class that happened at the airport. We felt that had become a Tipping Point and all eyes on hong kong. Thought about, what is a perspective we can bring to the story that has not been brought . One thing that came out of the conversation was, where is the thanks coming from now . 2047. About when hong kong was handed back to china, one country to systems being this guided idea for how the city would be managed, 2047 was used as the Expiration Date of that. When you think about the stakes of this situation, five years out is not enough time to solve that. 10 years out is not enough time. The we are watching, the fury is only about 24 7. Hong kongs countdown to 2047. Jason when you think about the nexus of Business Economic politics, there are other places in the world where it happens in sharp relief. This is speaks to the dilemma that xi ji