FTN 032220 - March 22 2020 - FTN 298 An Inconvenient Coof

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often imitated, never duplicated. This is the one and only fash the nation. Your guiding light in a sea of generous is welcome to 98. I am coupons. MK feels this is the world's most pandemic averse right wing political network terrorist Bringing this to you If you've heard it somewhere, chances are that somewhere was here again. And COO fans make feels now. Entering week three of a self imposed locked down James is back. Hello, sir. How are you doing? Well, Charlie. Chuck, how you doing? Yeah, it's great. We're not only the world's most pandemic averse, also becoming quickly world's most of indicated in terms of Corona virus coverage. And I mean, why stop? Why limit ourselves and why stop there? But yeah, it turns out, I mean, we we hedged our bets a few weeks back or actually now two months back saying, Yeah, this might turn into nothing might turn into something big. And, boy has it become something big, dominating the news, dominating every headline dominating every facet of American life Now as well you can't Ah, yeah, I mean, like, this is one of those events that is very rare in terms of affecting almost everybody, not only in the country but in the entire world. Yes, it is, and you know it's not. It's unlike some of the things that we thought we were going to get out of the president. This is not something that were excited about getting right, but in the sense that we are sort of the US and others are sort of an early warning, a sign. It's, it's, it's good and we have a very big show today. A lot is happening. I've no idea how we're gonna fit all this in, but it's It's quite a bit, but one thing we're gonna be doing today in waited a long show last weekend, We're going to be putting a bonus. Our behind the Paywall today. Um, you know, this is so much content and ah, we're going to try to fit it all in, like I said, But the last lap belongs to the pay chats. We have one in five people in the country right now on some form of honor system locked down, So chances are you are sitting at home, and if you're in our milieu than chances are, you heeded the call several weeks ago and have been at home for a while and ah, another thing is the FCC has now 390 plus I S p s that have signed on to the keep America connected pledge. So your Internets not going to get shut off? You may not be getting a bona fide you be. I check, but your internet isn't gonna go away, at least. And so if you're sitting there thinking we only do a show once a week and it's the one that hits your RSS feed and you just happen to be a free fag, you're missing out on a ton of content. We have the midweek FTN every Thursday, which is typically where we debut many of our deep dives, first for pitch heads only jazz, Jesse, every other Thursday night where we take your calls and then promptly hang up on you. Mid sentence, My favorite thing. Ah, strike and Mike. Every Tuesday it was Striker and a HAZ mat suit talking like a robot that's always a good That's always a good time and, of course, tedious. The informal Joe Rogan style podcast that is three Times week Friday's behind the paywall. So site up, right? Stuffed up is such a well. And then you can get on bang, which is a form that we have for connecting with other nice guys in your area. So who the hell wouldn't want to be a nice guy with other nice guys in the area who are trying to be a nice guy, so get connected. You know, a lot of people don't have anybody talked to A lot of people are alone in this because of how atomized are soy society has become. And, ah, we have a great network for you to connect with. And I I know what all my friends are doing all over the country were in contact, and, uh, I don't know anybody else that has something like that. And so come on, come on in. Join us. It's Ah, it's a great time. So the show structure today, um, a little bit of a public service announcement. We're going to hit the big developments first and react and forecasts to some of those and then dive into some of the topics that we think merit a little bit more in depth discussion. Um, you know, we understand most people are aware of the various states of escalation. Ah, and want to hear our perspective. So in order to do that, we have to roll through things very quickly. Ah, but before we do any of that, though, the most important thing is to make sure that you and your family are safe. This is a serious thing. Onley Just I mean, the people that have clung to the just the flu, bro and have, like, morphed into like none of this is real, bro, like you're just putting other people at risk in. This isn't a joke. It's not funny. Um, Navis talked a lot about what you should be doing to be prepped. There's no such thing as being too prepped and even. I mean, whenever you have guys even like Dr Fauci saying, um, if you're doing very extreme measures, that's probably just enough. You think you're hearing to extreme. You're probably doing a good job, so it's good. And because of this because of us pointing these things out, TRS pointing these things out were all collectively, our community is way ahead of the curve compared to everybody else. In case you're not in case you were one of the people not taking this seriously. Time to start doing that is now. And pretty soon you may not have a choice, right, James? Mean, pretty soon there might be all 50 states in some form or another could be on at first, possibly an honor system locked down shelter in place, kid gloves is what they're kind of doing. But they've sort of if you read what they've said, you don't even have to read in between the lines. Just re directly what they have said. These governors, uh, what they would need to do if people don't comply with the honor system, remain in shelter in place. Whatever. Right? I mean, we have multiple different stages of these quarantines or lockdowns. And when you see the headlines saying and especially if you're outside the U. S and you're not, you know, living here and experience these things on a day today basis and you see the headline saying one in five Americans on Lock Down. Wow, this is serious, right? Tanks and military personnel and people getting pulled over and turned around and sent home like like they are in France. and in many places throughout Europe. But in reality, the extent of the locked down now in the US there are three stages to this one is the honor system quarantine. But please don't go anywhere, type of type of lock down. And that's what you have in states such as Washington State and a few others. And then you have North Carolina believe as well. And then you have the second stage, which is what we see now in New York, California and Illinois. And this is what is being referred to a shelter in place or lock down. And and so, yeah, we have Cuomo announcing to stay at home order on Friday, warning New York state's 19 million residents that if you defy the directive and you go outside without a reason, traveling without a reason without could be going to, for example, a grocery store. A drug store could face civil fines. And other localities across the country, including one county in Texas, are looking at civil fines plus jail time for people that violate quarantine and, ah, curfew hours as well. And so Cuomo is saying that you know his quote. Cuomo, by the way, has been doing a very good job. I mean, I'm not I'm not saying that I would support him. A Zaid political candidate, possibly. But, um, I am. What I am saying is that he is handling this crisis, and what's kind of incredible is, you know, the Democratic Party being so bankrupt of people who could be a leader. Um, Cuomo is the kind of guy that you could see maybe even stepping up in running for president. I'm not saying that he would, but it he is building credibility in the midst of this crisis where he would be in a position to do that and in the rest of the people in this in this whole race would probably fall apart. But that that's besides the point. He has said that, um, what he has done now this sort of honor system, stay at home. You know, if you defy this order, you could face fines. But he says this is the most drastic action weaken take. But it's really not. And they could go further and they likely will if they don't start getting these numbers change. Because even he was saying in one of his press conferences. The numbers go up. You tighten the valve, the numbers keep going up. You tighten the valve more. The numbers go up even further than you close the valve. While this still isn't the valve isn't closed. So these numbers aren't aren't getting any better. I think everybody understands that New York has become quickly becoming the epicenter of this thing. They had 2000 new cases as of Saturday, zero recoveries. And then New Rochelle is the epicenter of the epicenter. And I love getting confirmation bias on this because on a recent show we said, You know, Alan Burger, Dr Allen Berger, the guy that went to CPAC in a pack. We've been calling him patient zero in the United States Ah, for Corona virus and then spread it all over the place in New Rochelle. And it's the reason why they put the place on lock down Is we said that they are omitting, um, the fact his name and a pack and CPAC from all discussions of this. And so now the New York Times, this is from Wednesday, they say many of the early cases that were traced to a man from Westchester County who attended public gatherings before knowing he had the Corona virus. All of those things are obfuscation and lies like, as we pointed out on the show, he knew that he was infected with the virus before he attended these gatherings and he didn't attend a public gathering. He attended a pack and then he attended CPAC, and then he infected a bunch of other people. 15 people on Bull Scenario staff have now tested positive for Corona virus. And I saw on Friday that Mike Pence somebody on his staff tested positive. And then Mike and his wife, I guess you're going to get tested. I don't know why they haven't been tested so far. Um, in the National Guard has been deployed to New Rochelle and ah, you know, So this is this is getting pretty Sears there. But it's not the only place that that's happened. Ah, one more interesting thing about Allen Berger that I just learned to is that Allen Berger Patient zero J. Peck, pacing Patient zero hosted a number of fundraisers at his home for Ted Cruz in Englewood, New Jersey, and is, ah, actually good friends of chair Kushner. Actually, the whole Kushner family were interesting. Um, how this works. It's kind of funny how the how the spread has has been moved around. So the people that are saying that this is all one big gay up being conducted by the Jews it's like wire all the Jews in New Rochelle infected with the disease, though, like, what's up with that? So this is Ah, this is moving quite along. And the other thing that has been happening a swell as a Swede been talking about this is you know, you hear things that are kind of on the periphery, Like how long? Something conserve I've on surfaces such a stone, glass, plastic, whatever. And then those things become reality, right? And another thing that we heard about a couple weeks ago is that Yeah, this isn't just boomer doomers, right? Like the people that think that this disease is just boomer do more like it's gonna be removing all boomers and just the boomers, bro. It's like No, actually, a lot of young people are getting infected with the certainty they have a new stat at in New York. James, don't they? It's is bad. Yeah. Yeah, I know it's it's shocking. Not only is New York the epicenter for the U. S. There also, I believe, have the youngest demographic infected 2\/2 of New York Current virus cases are men between the ages of 18 and 49. And this is what we're getting the numbers out of China, right? We were seeing the Chinese reporting, and this is just more reason to thio more confirmation that the Chinese are lying and have been lying about their numbers is the vast majority of cases in China were amongst the elderly. But what we're seeing out of the U. S. And across the West more broadly is this is hitting across the spectrum. Ah, fairly broadly. We have some headlines from from the US and from Europe. A New Jersey woman writes about losing four relatives to Corona virus. 50% of severe patients in France under 60 40% in the U. S. Hospitalized are under 55. A 30 year old died on Friday in New Jersey, 20 year old in Europe, a four year old now infected in the U. S. And a seven month old in the US as well. And so we're seeing it's been Yeah, it's It's extremely bad. And one of the stories that we brought up on ah on the extended length Jazz and Jesse on Thursday night, um, was this woman in New Jersey and it may be this this New Jersey woman in the first headline I'm not actually sure. Ah, but she know it's actually that's a different one. Holy shit. Yes. So the one the one that I saw was it was It was an older woman in her seventies who was the mother in a very large Italian family, and she actually died while her before her two other Children. Sorry, I got this wrong 70 year old mother, matriarch of the family gets Corona virus, goes into a coma. Her two oldest Children died before her, and she didn't even know it because she was in a coma. And her two oldest Children, I think, were in their fifties. So yeah, this is this is not just the boomers, bro, and it's actually ravaging a lot of people. And I've seen people also court of sort of doing this kind of, I don't know, people have this tendency to be like, Well, I don't know any anybody around me that has this this yet so spooky though, right? Spooky. And it's like they're only how many people they tested in the whole country right now. 15,000 16,000, 17,000 people. And we have 10,000 cases. So, statistically, is it likely that somebody you know is going to have this in a country of three and 50 million? No. And when Onley sort of ah, wealthy and v i p s air getting tested, uh, you're not going to know? And so the I I have heard of people who have gotten this. I know of people, um, you know, maybe with one degree of separation who have gotten this, I don't know anybody yet. And I hope I hope that we don't. I hope that we don't get that far. But the people who have been rolling the dice on this and doing the YOLO stuff which we've been talking about, these people are just spreading this shit all over the place. And your This is why you're getting a reaction. Ah, from from a lot of these state governments, Like like California now, California Governor Newsome, At least he he and Illinois are both actually saying they can go much further than the honor system lockdowns that they're doing. So he claims that Laura enforcement isn't going to be actively enforcing the order, but that's a recipe for chaos, and I think he's just saying that. So CHP and other law enforcement in California people don't fear the police, But, uh, I think he is telling you exactly what's gonna happen when he says, Ah, he said he ready the National Guard for action. And then they emphasized that its duties air for just routine natural disasters and other emergencies. But, he said, We have the ability to do martial law if we feel that is necessary, said uh Newsome. And so they have 1300 cases so far. 70 today, um, only handful of recoveries. But L. A county has also put things on lock down. As of Thursday night, the whole state was on lock down as of 8 p.m. Right And those numbers of cases and deaths are also suspect because we have this week l. A county announcing they're giving up on containing the virus doctors air skipping testing for patients that come in showing symptoms. And the only time in which doctors are now instructed to to test patients is when the patient indicates that they will quarantine themselves or their promise to quarantine if they get a positive test, if not there being released back into the public. So, yeah, there's a massive shortage of ah, not even not even shortage of of tests. But it shortage of hospital beds as well they only have 200. I see you beds remaining in the entirety of L. A county. We have nurses just walking out of work and protest ing conditions. The testing, the testing has been stopped. We're gonna talk about testing after Illinois, but testing has been stopped in most places. They started it. Remember at the beginning of the week, that was when you were gonna have a 1,000,000 test off four million. Test out, though, that both of the no, they most states have now walked this back where the only people that are actually eligible to get a test are people who are medical practitioners or people who are like falling down on the concrete wheezing because they can't breathe like you're You're not getting a test at this point, they want to, but they reverse course on all this because there's not enough. So you really have no idea how many people have this around you. In fact, that's the thing that people were like, Well, I don't even know anybody who has Corona virus. It's like, Yeah, you dio, they just haven't been tested yet. That's the It's like just And the other thing is people that have symptoms that is not enough in most of these these cases where they have these drive through testing facilities, these are popping up from New Jersey to California. The problem is to be eligible for one of these drive through tests. One needs to be referred by a doctor. Now, if you're someone who has a fever and is coughing, are you going to want to risk going to the doctor now? Despite did not knowing what you have low risk infecting or risk contracting Corona virus by going to the doctor, know you're going to stay home and you're not going to go see the doctor for that? Refer Well, example right? People been told, not even to leave. I've seen some stupid people being like I'm gonna go to the emergency room because I don't feel good. And people are like, uh, yeah, you're supposed to call somebody and tell them what you have, and then get Lloyd for them to give instructions. And you're like, Oh, yeah, I did the video thing, and I didn't like how the how that went. It's like, OK, so you're just gonna go risk infecting like five people and maybe killing a few somebody's grandma or a grandpa, cause you're a selfish piece of shit. Yeah, awesome. What? You fucking listen. This is a This is the problem is like society is been predicated on really most people not having to do very much for themselves. Like people have totally lost touch with what actual sacrifice means. So people just are going to do whatever the hell they want and, you know, they don't give her. They don't really give a shit. And they don't understand and comprehend, like how how risky and dangerous their behavior is. But Illinois has also done something similar to New York and California, of course, New York, California, Illinois, These to the homes of the largest cities in the United States. Um and he's been a bit more honest about not be not, You know, this honor system bit that they're doing not being the final leverage, he says. For the vast majority of you already taking precautions, your lives will not change very much. We don't know yet all the steps were going to have to take to get this virus under control. So for the people who think that this is Thea Honor system Ah, you know, shelter in place is sort of the last. The final thing that they can do that. That's not true. Um, and you're seeing this take off. There's been this graph going around and just to throw some numbers that you guys. So it took the world three months to get to 100,000 cases to get to the next 100,000 cases took 12 days. How many days do you think it's gonna be to get to the next 100,000 cases, James, Like three or four. Maybe. Given what we saw in Italy last night, where in on Saturday morning, Uh, Italy reported 760 some odd new deaths, which is a brand new record. You're almost getting to the point where deaths are increasing by 40 50% every day. Um, and it's it's a shit show. And so if you look at this graph that's been put out by the Financial Times, no other country has been this far into the pandemic and still have the number of cases growing at the rates the U. S is seeing. And we're doing the least testing. We're putting out the fewest number of tests. So you look at this graph and where the purple line with the US just skyrocketing past China and Italy, and people are like, Oh, what does that mean skyrocketing? We don't have as many deaths in Italy. No, it's It's about the trend line. It's about the slope of the line in the direction that it's going and they're not testing anybody. And they're not like it's not like we got four million people tested this week. James. We've still only tested 16 17,000 people, and we have what? How many cases in the country? 15,000. I mean, so what? Everybody, That's testing is like 80% positive rate. I mean, that's insane. Yeah, I think the latest numbers on the total tests they were. Yeah, they were not nearly as high per capita as they were at this point in other places like South Korea, right? And so we have 22,000 cases confirmed in the U S. So far, 20. Excuse me. 23,000 cases confirmed in the US, and we have actually crossed that 300,000 worldwide Rubicon. And that was on March 21st. And that is three days after hitting 200,000 worldwide. Chap it on March 18th. So Ah, yeah, three months to hit the 1st 100,000 12 days to hit hit 203 days to hit 300. And this is happening. And this is something people have been mentioning for two weeks now, this increase we're seeing is coinciding with the U. S. Bringing more tests online, and this again speaks to why they were so reticent to bring any tests online. Make any tests available in the U. S. Is because they knew it would imagine this. If you test more people, you have more infections. And this is way also part of what's going on into, Ah, what's factoring into California response as well, by drat dramatically scaling back testing. You can say some of it sure is due to rationing for healthcare workers in E. M s and and police and fire etcetera. But I just don't think they want to see 100,000 people infected in California, which is what they're likely to find as Gavin Newsom. In fact, more than that, as Gavin Newsom projects, 56% fitting for California of California's population will be infected in the next eight weeks. Yeah, and we've all seen the Grimm case scenario and best case scenarios, and I think those sort of change on a daily basis, But the simple solution, you know, to instead of, you know, writing think pieces about. Here's the grimmest version of a year life A year from now, here's the best case. How about we just fucking test people, right? I mean, this has been a problem. And is it due to supply chain freeze orchestra monopoly? We don't really know yet, right? I mean, we sort of know we have a pretty good idea by connecting the dots. But you had a Corona virus test that didn't work. Then there weren't enough to go around. And now is the federal government is trying to ramp up nationwide screening. Laboratory workers are complaining of not even having the right test supplies. They don't have swabs, even if they do have the tests. And if the United States were actually taking this on in a very serious way, we would be screening 102 150,000 people a day. But we're not right, like that's, you know, when they put up a chart on in the C. D. C H Q Command center or whatever. And they have number of deaths, number of new cases, number of recoveries. You notice they're missing a bunch of metrics on the board. I want to know how many people were tested yesterday and how many people were positive. I don't want to just no new cases. I want to see a numerator and a denominator. I want to see more data and they don't They're not putting that out because people would get pissed if they started saying and I mean, you know, this is from Ohio Due to a shortage of tests, Ohio's governor, Mike DeWine, who has actually been pretty serious about dealing with this I mean They shut schools down in Ohio a long time ago, long before a lot of other states did. He's saying the Corona virus tested Testing will now be limited to health care workers and those already in the hospital. So if you show up or you get on video, chat with your doctor and you say, Yeah, I have a bunch of symptoms Unless that doctor says you have time for you to go the hospital fan like you're not getting a test. So yeah, nobody bringing this stuff up. Right? And the number of people being tested at U. S. Public Health Laboratories is actually decreasing, right. The CDC has scaled back testing Ah, nearly 20 with the expansion of tests and tests being made available of these public health laboratories. But even they are decelerating in terms of people. They're testing that they peaked in in ah in mid March on March 16th at 6000 samples and that samples not even people tested per day. And now they've fallen back down into 3000 or 187 on on the 18th right? So, yeah, the amount of testing going on a public health laboratories is collapsing and this is This is not I mean, South Korea, right? This is what they were doing. They were doing 220,000 day us were doing 3000. 4000 6000 today it's wholly insufficient. Yeah, there's some. There's some ah, news breaking news, whatever saying that they have Ah, they're in the process of fast tracking a test that would get you results in 45 minutes. I mean, right now it's taking five days to get results. So, you know, if somebody goes in, does a Corona virus test or they are they still I I would hope that most of those people are self isolating. But what if your I'm not sure take a test and then, you know, But every V i p every like, ah, a poop or what? It might calm hoop apes. All the hoop ape Scott tests, right? The entire squad of the Utah Jazz got got tests. No problem. If your V i p get test, no problem. Um, and that's another cope that people are doing like, oh, they only see celebrities and very important people testing positive or getting its again. Because those are the people who the tests are being prioritised for. Figure it out, Not that heart. So Kushner family has been cashing in on the Corona virus. Um, he initially believed that the virus was not a healthy reality on the threat was being hyped by the media. Um, and then he hijacked the Corona virus Task Force. You can read up on that there plenty articles out there about this and, ah, you know, you have a bunch of non government profiteers coming in and you had one senior official saying, We don't even know who these people are. Who is this? We're starting to get all these emails thes air, the official CDC people like Fauci's team and Deborah Berks and so on and so forth. And, you know, it's like Jared Kushner's injecting himself into every part of this process. Uh, and he wants to have this entrepreneurial approach. He's the guy who wrote Trump some press conference last week that he did. Was it last week? Yeah, I guess. Last week on Wednesday, um, where they claimed that there were 1700 Google engineers developing a website that would, ah, centralized how people would look at national testing. And as far as I know, that site is not up or it's up. And it's not working like all of that, just like went up in smoke. And Google isn't working on this shit. This is Oscar Health, the health insurance company founded by Jared and Ah, his younger brother, Josh Kushner. And it's basically just a testing center locator that they worked on with a subsidiary company called Verily of Google. And it doesn't even work. And this is why you haven't heard anything else about, like what happened to Donald Trump's website, where you can go on like, dual the shit like you can't and you know this website is is to help people get tests, helped them get medical care. And if it's anything like the other things, that Oscar health has done such a selling Health Insurance and Ohio under the Affordable Care Act that had a deductible of $15,000. The company also sold health insurance under the Affordable Care Act in 15 other states. And, of course, the Ohio bit that they did was met with a lot of angst and rage from people. But the good news is the upside is is that Oscar Health lost $110 million in 2019 almost double the $57 million the company lost in 2018. So if they're making money, I mean, a lot of ships going out the door with these guys. But, hey, look, I mean, you know, the other side of ah, the Chabad Lubavitch family of Jared Kushner to which he belongs there, making out pretty good. Aren't that James Massad got 100,000 Corona virus tests? They nabbed them. According to the headline Bloomberg, they nabbed these tests 100,000 of them. And it seems like it was at the direction of Ah, Netanyahu. Um and yeah, so that's kind of funny. And Israel, by the way, there's kind of a black out on news from Israel. You heard much since they shut down their borders. That's kind of like the last big headline that we've gotten kind of don't know anything about what's going on. None other than some some Israeli celebrities singing Imagine, in a viral video, uh, I have not had much contact now, have nothing. Well, I forgot to play this audio and we're talking about new York, but actually have audio of the chatbots being of Chabad Lubavitch. Um, they have a world headquarters in New York City, and I will try my best to put this photo in the show prep. I was promised. I'm gonna put stuff in the show Prepper in the in the show notes, and then I never do. But I will try, James, Just remind me to put the fish I photo of all the rabbis in front of extra Bob Lubavitch like, Oh, my God, this is fucking crazy. But apparently, you know, they're under order in New York, where you can't have gathering serve either 50 or more 10 or more. I think it's 10 or more, and ah, these people refused to disperse from the Chabad Lubavitch world headquarters in Brooklyn. And I have audio of of the cops coming in and telling them to get the fuck out, which is kind of funny. They had to be told to leave way, way, Yes. So, apparently the Chabad Lubavitch world headquarters in Brooklyn has been shut down. Um, and these people are refusing to to leave. Um, So and we've seen these the you know, for the people who are saying that this is one big gay up. It's like, well, explain why 100 recedes tested positive for Corona virus in in New York City. Um, you know, because these people refuse to break up and, you know, they're kind of, you know, the conservative Jews, the Jared Kushner milieu of of Jugic, not juicer. Some of them, you know, these some of these people are there. They're not as bright as advertised. And, ah, they refuse to break up, Especially when you get into some of the more, ah, nasty stables in New York. It's it's kind of problematic and and they're disgusting. I mean, these are disgusting people. And so, yeah, they're being told to break up. But it's It's kind of funny how Jared Kushner is the guy who was initially saying that the virus is not really a health reality and that the threat was being hyped by the media and he, you know, that was It's funny, like you can say, like all right, Well, the media's is framing Jared Kushner for being the guy manipulating Donald Trump. But that's exactly what we saw in the Trump response at first right. It was all about every every every news conference that Trump had was a self congratulatory look. How good I'm doing. I'm doing an A plus job. There's some you know, not that many people are dying in yada, yada, yada. Just the flu, bro. Forever. And it's like, Well, that's it's kind of what What would motivate Jared Kushner, right? I mean, he doesn't want this stuff breaking people up, but I mean, that's what role and this is. And this is after Jared's plate has already, you know, swamped plate of responsibilities. He's in charge of securing the border. He's in charge of criminal justice reform. This happened after Jared had already been tapped to to assist in leading the administration's response to Corona virus. And sure enough, you then had the the town hall that Trump did, where he came out and and touted his his very high good high poll numbers were doing great and downplayed this thing until it became impossible to downplay any longer. And this is something I mean for all of the the fervor and this is a point that's been made before. But for all of the anti Trump er ver that. Ah, to what extent it still exists in the media. Isn't it funny how Jared Kushner and his multitude of conflicts of interest almost never get mentioned? It's It's not mentioned that he and his brother have this this prominent share in Oscar health, and he is leading, assisting and leading in the U. S. Public health response to a pandemic. I mean that just that it seems like something that should be reported. Yeah, it seems like something that they should report and they don't. And, you know, we don't know where these supplies air coming from. And you know that that we held back on testing to make sure that Kushner companies could spend up their production and make sure that everybody gets tests and masks and everything that they need. And maybe that's maybe that's really what the delay is all about. I think it's a little bit of all of the above, because the administration doesn't have an incentive to test 150,000 people a day. Just look at all the graphs and it'll tell you why, um and so the reaction, instead has been to this. The slow, incremental sort of penny ante way of dealing with this and I've said this before on this on this program, even Norm ease are are sort of expecting more authoritative action from the government. That's what they want, right? Like his Borzoi said on the midweek FTN. The only solution of these liberal problems are a liberalism, right? Like that's the thing that is going to solve this problem. And so far, you know, we're having were inching toward what may be a national shutdown. Now I'm gonna parse this narrative because people have to understand. The newts were famous for notes here on FTN, and it's important to understand there is a lot of disinformation that is coming from various sources on the Internet and, you know, some of it, some of it is false. A lot of it is false. The things that are like, I mean, who remember, you know, three days until National Gordon Dean and then nothing happened. And it turned out that it was like, yeah, that was bullshit and people were buying into it, whether you know, and then people sale, I have sources who say It's it. Shut the fuck up. Everybody has a buddy. Everybody has a buddy in the National Guard and telling them it's coming tomorrow. Yeah, right. But see that? What? They're it. But there are. But the National Guard. There are military vehicles out on the roads like the National Guard is being deployed. It has been deployed in a lot of these places, but people are sort of taking what is actually happening. And then, you know, amping rumors air getting amped up about something on top of it. And so people see military vehicles parked under a bridge in Baltimore, and then they extrapolated that into whatever fantasy land that they think is coming. It's like that equates to like Mad Max tomorrow, and it's not so We're gonna try to parse that out and sort of tell you what we think is coming and the reason why they would do it in this way. So you have all these governors saying, Here's what we've done today and here's what we can do if we need Teoh and then you look at graphs and you see that were 40 days out, as Cuomo said, from Peak in New York City, and that's a highly concentrated area, very densely populated area and that that peak isn't gonna be for another 40 days. What does that mean For other parts of the United States? Massive country that is spread out heavily populated but spread out all over the police, people refusing to stop flying and whatever it's going to take a very long time. I think people aren't accustomed to be thinking in sort of these exponential terms like James. Like have you got symptoms tomorrow, which I hope that you don't. And I hope that I don't know. I hope that nobody listening to this program ends up with symptoms. But you, like people have to into this. If you get symptoms tomorrow, you have to think back to who you were in contact with two weeks ago and what you were doing two weeks ago to even hope to pinpoint where this came from. And so people aren't used to thinking like that. They think of like, you know, if you get sick, like prior to this virus, if you got sick and came down with something, you think of who you were in contact with in the last 24 48 hours, right? You think of like, Oh, I just flew through a major airport and now I'm sick. Well, obviously it was the airport. Right now you don't get or o. R. A friend of mine had had a cold and we hung out a few days ago, so I probably got it from him. Yeah. I mean, this is something that is very simple for people to do, in many cases with common cools. But the complicating factor here, one of many is the period for which the virus can lay dormant in people and you could be asymptomatic and yet contagious, which is unusual, which is not the case with most common colds or or or others that require you to be sneezing and coughing and a spearing germs on things. We just don't know how long people could be contagious for. So, yeah, it becomes very difficult not only to track where you got it from, but also then to track who you may have given it to if you do become infected. And that's why they're I think in some cases there's good faith action being taken to lock this thing down. Because most people society has become largely a collection of helpless people. Um, who are just, you know, economic widgets to sort of keep the thing going and keep the people at the top wealthy and in charge and in power we're gonna get to Ah, the legs were getting kicked out of that as we speak, which is the reason you're seeing the reaction, right. You have to connect these things together. The reason you're seeing the overreaction from government in the placement of guard in places like Connecticut, Louisiana, Minnesota, New Jersey, Pennsylvania, Washington State. And of course, I put a huge asterisk there because it's probably going to change within 24 hours of me recording this with you, James. So it's gonna you know, we're gonna have more Washington, Do you see? The guard has been activated and Wisconsin has also activated their guard. It is also in use in Florida. A swell Azaz Arizona. I think we covered all the other states. And so, um, you know, they're saying that they're ready to mobilize the National Guard potentially to help them work with first responders. And the reason for this is because, remember, we talked about when these orders start coming in to shelter in place and that all businesses that are non essentials, such as, you know, some restaurants and power production and, uh, emergency medical, secure or whatever when everybody else is ordered to stay home and you have most of the country. What's the percentage James of the people in the country who are not only living paycheck to paycheck but have no emergency fund? It's It's ecstasy, and it's about 50 50% living paycheck to paycheck and an additional 15% depending on credit cards, right to ah, to get by Exactly. And like, that's what we focused on last weekend. Um, on ftn was Thea, you know, big line go down paycheck go by phenomenon and what happens over a period of time and they're they're looking at this thing. It's like, When were the first orders really started? When was it a new thing for there to be a shelter in place, like march 8th 9th? Um, was when some of the first ones started coming in. And so you're only, you know, almost two weeks into that and you know, they're people who, two weeks, you know, ago they got their last paycheck and things are going to start to get dicey. And the reason. One of the main reasons the National Guard, I think, is out there is obviously to stop looters and potentially violence and riding. And, ah, you're seeing crime start to tick up. And it's one of the reasons why there may be maybe mo mentum building behind the scenes for a national shutdown. Now, before people Ah, gawk at that. And ah, balk at that a little bit. What I mean by that is they're either going to do it by having all 50 states on more or less the same set of rules, or the federal government is going to come in and enforce it. Um, if if some states aren't moving fast enough in that direction, and the reason why they're considering doing it is because they're seeing what is coming out of Italy, you're seeing what is happening in Europe more broadly, and the fact that there aren't that many people getting tests and you have that two week lag time and people aren't doing what they need to be doing in taking this seriously. Uh, and so we may very well get to that point. Um they. You know, they're saying the president is considering grounding all US passenger flights because if you pull up flight aware and look at the live view of all the flights in the air in the US right now, you know, you talk about super spreaders, just those metal tubes flying around 500 miles an hour that that's a super spread. Or even though those flights or what, like 30% full. Um, and they're just gonna have to rip the band Aid off. And so they could do this a couple ways. There's a potential to do it by executive order. The president can do this, um, via executive order. And I don't think the Scotus is gonna overrule him on this because I think because the entire financial system is at stake here and that's really their chief concern. It's not your health, like, just so you know, when these people are having their closed door discussions door locked, classified only discussions. They're not talking about the things. This should be obvious to everyone. They're not talking about the things that you see in the briefing. Like that is what gets shot out the other side. But behind closed doors there talking about things like, Can we sacrifice the economy, or do we let 50,000 people die there talking about trade offs? They're talking about how many people can die, How many people can get sick? How Maney, How serious is this? How how soon do we have to react to this and how much can we absorb? And I totally agree with the take from tedious a couple weeks ago where they're perfectly fine with X number of deaths. I don't know what that number is because they can just back fill those with the people from the Third World. They're actually OK with that. And they would sacrifice a lot of people to keep the economy in tip top shape. And the problem they have is that they haven't even sacrificed that many people like this thing hasn't even gotten rolling yet, and the economy is already shitting the bed. And so that logic tells me that they're considering this because it's all about saving the economy. This is why you see Trump like taking this wartime footing because as an executive in quote unquote wartime, he has farm or broad executive authority and he's going to get a measure of deference from the courts. It also eyes Will Westcott. You've got to give the guy Kerr at it on Twitter, cause it's true. It's Trump is also trying to mean himself into being a wartime president to win re election. So it's not gonna work. But for the people who think like like L O L Donald Trump executive order no, like there, actually a lot of justification for why they would do something like this. And it's to save capitalism. It's not to save you. Yeah, no, that's exactly right. And this this presentation of Trump is a wartime president. It's This is part of this ongoing administration effort to I mean, you mentioned backfilling dead Americans with foreigners. But they're also playing catch up, trying to reassure the markets and and reassure these finance financial institutions that they're actually taking this seriously because again, they made their initial gambit waas to pretend that it isn't real to pretend it's not going to have wide ranging effects. And that is something that could be papered over but that that plan fell apart very quickly. And ah, we have Ezekiel Emanuel saying that we're We're two weeks behind Italy. Ah, and you know that does not portend Well, he's a former Obama aide now, Ah, professor at University Pennsylvania. But that doesn't pretend well because what we're seeing in some of the most populous states, some of the biggest cities, most wealthy counties in America is there. Health care systems already are already at the breaking point. So if we're two weeks behind Italy, which is probably a mis estimation, probably more like 45 days behind Italy then and we're already at the breaking point, I mean this you're absolutely right There go. They are making calculations now about how bad things can get before they have to take mawr, as they would say, draconian measures with the intent of saving the economy, not about saving people. If it were about saving people, the entire response philosophy would have been different. And it would not be this. This sort of like. It's almost like a regretful, regretful actions they're taking. No, they don't want to be taking the actions they are, even though it's the right thing to do for people's public health, right? And that's why there was conflict in the messages that were coming out of the White House. And there still is like Dr Fauci, I believe, until I've been going given reason to believe otherwise, I mean, the guy has been around for a number of these different pandemics that have taken place. I believe this guy has the country's best interest in mind. I believe he has people's health as the best interest in mind. You don't think you don't think he's an enemy of the people like Bill Mitchell? Yanks? Yeah, he's a traitor to America. Bill Mitchell has gone from in case you haven't seen this. Bill Mitchell has been gone from Buy the dip as theater. Aziz the stunk sehr taking to Friday afternoon pfoutch. She must go hashtag fire Fauci. I mean, this is I think the guy is officially fucking broken at this point. But ah, but yeah, like I'm trying to illustrate the point without cheese, like this guy, actually, I believe cares about people's health. Now his message may get attenuated in, modeled by the administration making demands of him, and I would hope at a certain point that found she quits. If he is being pushed in the direction of the government more broadly, Donald Trump and Jared Kushner of protecting the markets over people. Which is where you saw a lot of the friction in the beginning, as far as Ezekiel Emmanuel's prediction about two weeks behind Italy. Yeah, we might be two weeks behind Italy in in terms of just raw numbers, but we're not two weeks behind Italy in terms of trajectory and upward slope of the graph for a much bigger country. New York is far more densely populated than even the most densest, populated, densely populated regions in Italy. Ah, and so, yeah, I mean, he it's kind of like it's comparing apples to oranges, but we do know and what we're going to get into, um, later in the show, actually, behind the bonus in the bonus section of the show, we're gonna be talking about, um, the China China numbers and some things like that and diving into that, uh, Italy is kind of this now this canary in the coal mine, it's the European epicenter, and it makes people start to not believe the Chinese numbers. It's like, Wow and saying that for weeks to make imagine that what's roots really going on over there now. Also do the nuance in the China stuff, too, because, ah, GOP and it's, um it's little gay. Little foot soldiers are out there doing doing the Shabbos work to attack China. But there's new. It's there's nuts to China. They're wrong, were right. And that's usually how that goes. Now the borders have been getting closed. Um, I do have some takes on this because, you know, people are planned thrusters or running with this and doing the whole you know, See, Donald was right all along he was going to do. He was gonna come through with us for all along. And I said, I said to a couple B because like, No, this should make you mad. This should make you angry that this is happening because what it proves is that the president and his administration and this government, we're capable of shutting down the border all along. And they did not until it really it was really affecting them. This is this is kind of a litmus test for how much they don't give a shit about you. And it's not a litmus test for us. We knew we knew were like, We have been off the train for a long time. So but people are Yeah, he's on the same page. Is Trudeau right? It is closing the borders. Actually, after Trudeau is the hard core for you, America President. And so this is It's at the point now where they really like their hand, is being forced here. And for anybody saying that, Well, Trump had things had to get bad enough that he could do it and and it's like, No, shut the fuck up. No, they didn't. They didn't cause think. And also, things were bad before, right? As if the rape and the murder and the displacement wasn't bad enough, the total invasion wasn't bad enough. We have had public health rationalizations for closing the border as well. Tuberculosis, measles, etcetera like No, none of that flies right. And this could have been done before people wanted it to be done. Could have been done in 2017 or right after he was elected and had maximum momentum. But now we have to wait for a pandemic to do it and follow Justin Trudeau's lead on border security and into the people who are who are out there saying like I don't like it when you are always rag on Donald Trump. It's like, No, we're going to challenge this guy now like the got He got elected. He didn't turn out to be what anybody wanted him to be. He's totally turned reverse course on every major decision. Like I said on J and J, I'm actually glad that 30% of the things I'm glad that Trump isn't keeping 30 or 40% of his promises, because then I'd have to be battling bullshit like that to show, you know, because the people who are like, well, he's not perfect. It's like No, actually point to a single thing that's happening that has worked out in your favor that you can tell that he is actually working for you and on your behalf. He's not, especially in this crisis. This crisis proves it beyond a shadow of reasonable up. And then you hear shit like this where he says that the border would quote be sealed off mostly and even beyond, but mostly during this global pandemic. So he's putting this teaser out there for people to cling to. It is not going to be shuttered beyond the pandemic, and I would even argue that it's not closed now. We've been saying for weeks. It's not closed. Donald Trump is claiming is closed. Go look, go look at a live view of flight aware. And look at all the fucking flights coming in and out of Asia and in and out of Europe into the United States. Now there is essential travel. I get it. They do allow citizens to come back, but the borders are not closed. They're getting closer to closing them. But they are not closed. Only Italy has closed its borders and maybe a handful of other places, but truly closed, like you cannot leave like they're giving chant. They're giving a chance for people they need to do is say, all right, you can come home now, but we're closing this shit down and you can't leave and you can't go. But no, there always thes. It's long as there is an exception for somebody. There's there's a vector for the disease to come in. But you have, you know, people sort of celebrating. You know, this this rule that people will be quickly removed and repatriated to their origin country. But guess what else is happening. Isis announced that they're not doing enforcement inside of the United States. And so what's happening? What would What would be great right now as we get into some of this economic data in the second half. Um what? What did we see during the crisis of 2008? You saw a lot of people leaving. You had Obama deporting far more people than Trump ever will or ever has. But often imitated, never duplicated. This is the one and only fash the nation. Your guiding light in a sea of generous is welcome to 98. I am coupons. MK feels this is the world's most pandemic averse right wing political network terrorist Bringing this to you If you've heard it somewhere, chances are that somewhere was here again. And COO fans make feels now. Entering week three of a self imposed locked down James is back. Hello, sir. How are you doing? Well, Charlie. Chuck, how you doing? Yeah, it's great. We're not only the world's most pandemic averse, also becoming quickly world's most of indicated in terms of Corona virus coverage. And I mean, why stop? Why limit ourselves and why stop there? But yeah, it turns out, I mean, we we hedged our bets a few weeks back or actually now two months back saying, Yeah, this might turn into nothing might turn into something big. And, boy has it become something big, dominating the news, dominating every headline dominating every facet of American life Now as well you can't Ah, yeah, I mean, like, this is one of those events that is very rare in terms of affecting almost everybody, not only in the country but in the entire world. Yes, it is, and you know it's not. It's unlike some of the things that we thought we were going to get out of the president. This is not something that were excited about getting right, but in the sense that we are sort of the US and others are sort of an early warning, a sign. It's, it's, it's good and we have a very big show today. A lot is happening. I've no idea how we're gonna fit all this in, but it's It's quite a bit, but one thing we're gonna be doing today in waited a long show last weekend, We're going to be putting a bonus. Our behind the Paywall today. Um, you know, this is so much content and ah, we're going to try to fit it all in, like I said, But the last lap belongs to the pay chats. We have one in five people in the country right now on some form of honor system locked down, So chances are you are sitting at home, and if you're in our milieu than chances are, you heeded the call several weeks ago and have been at home for a while and ah, another thing is the FCC has now 390 plus I S p s that have signed on to the keep America connected pledge. So your Internets not going to get shut off? You may not be getting a bona fide you be. I check, but your internet isn't gonna go away, at least. And so if you're sitting there thinking we only do a show once a week and it's the one that hits your RSS feed and you just happen to be a free fag, you're missing out on a ton of content. We have the midweek FTN every Thursday, which is typically where we debut many of our deep dives, first for pitch heads only jazz, Jesse, every other Thursday night where we take your calls and then promptly hang up on you. Mid sentence, My favorite thing. Ah, strike and Mike. Every Tuesday it was Striker and a HAZ mat suit talking like a robot that's always a good That's always a good time and, of course, tedious. The informal Joe Rogan style podcast that is three Times week Friday's behind the paywall. So site up, right? Stuffed up is such a well. And then you can get on bang, which is a form that we have for connecting with other nice guys in your area. So who the hell wouldn't want to be a nice guy with other nice guys in the area who are trying to be a nice guy, so get connected. You know, a lot of people don't have anybody talked to A lot of people are alone in this because of how atomized are soy society has become. And, ah, we have a great network for you to connect with. And I I know what all my friends are doing all over the country were in contact, and, uh, I don't know anybody else that has something like that. And so come on, come on in. Join us. It's Ah, it's a great time. So the show structure today, um, a little bit of a public service announcement. We're going to hit the big developments first and react and forecasts to some of those and then dive into some of the topics that we think merit a little bit more in depth discussion. Um, you know, we understand most people are aware of the various states of escalation. Ah, and want to hear our perspective. So in order to do that, we have to roll through things very quickly. Ah, but before we do any of that, though, the most important thing is to make sure that you and your family are safe. This is a serious thing. Onley Just I mean, the people that have clung to the just the flu, bro and have, like, morphed into like none of this is real, bro, like you're just putting other people at risk in. This isn't a joke. It's not funny. Um, Navis talked a lot about what you should be doing to be prepped. There's no such thing as being too prepped and even. I mean, whenever you have guys even like Dr Fauci saying, um, if you're doing very extreme measures, that's probably just enough. You think you're hearing to extreme. You're probably doing a good job, so it's good. And because of this because of us pointing these things out, TRS pointing these things out were all collectively, our community is way ahead of the curve compared to everybody else. In case you're not in case you were one of the people not taking this seriously. Time to start doing that is now. And pretty soon you may not have a choice, right, James? Mean, pretty soon there might be all 50 states in some form or another could be on at first, possibly an honor system locked down shelter in place, kid gloves is what they're kind of doing. But they've sort of if you read what they've said, you don't even have to read in between the lines. Just re directly what they have said. These governors, uh, what they would need to do if people don't comply with the honor system, remain in shelter in place. Whatever. Right? I mean, we have multiple different stages of these quarantines or lockdowns. And when you see the headlines saying and especially if you're outside the U. S and you're not, you know, living here and experience these things on a day today basis and you see the headline saying one in five Americans on Lock Down. Wow, this is serious, right? Tanks and military personnel and people getting pulled over and turned around and sent home like like they are in France. and in many places throughout Europe. But in reality, the extent of the locked down now in the US there are three stages to this one is the honor system quarantine. But please don't go anywhere, type of type of lock down. And that's what you have in states such as Washington State and a few others. And then you have North Carolina believe as well. And then you have the second stage, which is what we see now in New York, California and Illinois. And this is what is being referred to a shelter in place or lock down. And and so, yeah, we have Cuomo announcing to stay at home order on Friday, warning New York state's 19 million residents that if you defy the directive and you go outside without a reason, traveling without a reason without could be going to, for example, a grocery store. A drug store could face civil fines. And other localities across the country, including one county in Texas, are looking at civil fines plus jail time for people that violate quarantine and, ah, curfew hours as well. And so Cuomo is saying that you know his quote. Cuomo, by the way, has been doing a very good job. I mean, I'm not I'm not saying that I would support him. A Zaid political candidate, possibly. But, um, I am. What I am saying is that he is handling this crisis, and what's kind of incredible is, you know, the Democratic Party being so bankrupt of people who could be a leader. Um, Cuomo is the kind of guy that you could see maybe even stepping up in running for president. I'm not saying that he would, but it he is building credibility in the midst of this crisis where he would be in a position to do that and in the rest of the people in this in this whole race would probably fall apart. But that that's besides the point. He has said that, um, what he has done now this sort of honor system, stay at home. You know, if you defy this order, you could face fines. But he says this is the most drastic action weaken take. But it's really not. And they could go further and they likely will if they don't start getting these numbers change. Because even he was saying in one of his press conferences. The numbers go up. You tighten the valve, the numbers keep going up. You tighten the valve more. The numbers go up even further than you close the valve. While this still isn't the valve isn't closed. So these numbers aren't aren't getting any better. I think everybody understands that New York has become quickly becoming the epicenter of this thing. They had 2000 new cases as of Saturday, zero recoveries. And then New Rochelle is the epicenter of the epicenter. And I love getting confirmation bias on this because on a recent show we said, You know, Alan Burger, Dr Allen Berger, the guy that went to CPAC in a pack. We've been calling him patient zero in the United States Ah, for Corona virus and then spread it all over the place in New Rochelle. And it's the reason why they put the place on lock down Is we said that they are omitting, um, the fact his name and a pack and CPAC from all discussions of this. And so now the New York Times, this is from Wednesday, they say many of the early cases that were traced to a man from Westchester County who attended public gatherings before knowing he had the Corona virus. All of those things are obfuscation and lies like, as we pointed out on the show, he knew that he was infected with the virus before he attended these gatherings and he didn't attend a public gathering. He attended a pack and then he attended CPAC, and then he infected a bunch of other people. 15 people on Bull Scenario staff have now tested positive for Corona virus. And I saw on Friday that Mike Pence somebody on his staff tested positive. And then Mike and his wife, I guess you're going to get tested. I don't know why they haven't been tested so far. Um, in the National Guard has been deployed to New Rochelle and ah, you know, So this is this is getting pretty Sears there. But it's not the only place that that's happened. Ah, one more interesting thing about Allen Berger that I just learned to is that Allen Berger Patient zero J. Peck, pacing Patient zero hosted a number of fundraisers at his home for Ted Cruz in Englewood, New Jersey, and is, ah, actually good friends of chair Kushner. Actually, the whole Kushner family were interesting. Um, how this works. It's kind of funny how the how the spread has has been moved around. So the people that are saying that this is all one big gay up being conducted by the Jews it's like wire all the Jews in New Rochelle infected with the disease, though, like, what's up with that? So this is Ah, this is moving quite along. And the other thing that has been happening a swell as a Swede been talking about this is you know, you hear things that are kind of on the periphery, Like how long? Something conserve I've on surfaces such a stone, glass, plastic, whatever. And then those things become reality, right? And another thing that we heard about a couple weeks ago is that Yeah, this isn't just boomer doomers, right? Like the people that think that this disease is just boomer do more like it's gonna be removing all boomers and just the boomers, bro. It's like No, actually, a lot of young people are getting infected with the certainty they have a new stat at in New York. James, don't they? It's is bad. Yeah. Yeah, I know it's it's shocking. Not only is New York the epicenter for the U. S. There also, I believe, have the youngest demographic infected 2\/2 of New York Current virus cases are men between the ages of 18 and 49. And this is what we're getting the numbers out of China, right? We were seeing the Chinese reporting, and this is just more reason to thio more confirmation that the Chinese are lying and have been lying about their numbers is the vast majority of cases in China were amongst the elderly. But what we're seeing out of the U. S. And across the West more broadly is this is hitting across the spectrum. Ah, fairly broadly. We have some headlines from from the US and from Europe. A New Jersey woman writes about losing four relatives to Corona virus. 50% of severe patients in France under 60 40% in the U. S. Hospitalized are under 55. A 30 year old died on Friday in New Jersey, 20 year old in Europe, a four year old now infected in the U. S. And a seven month old in the US as well. And so we're seeing it's been Yeah, it's It's extremely bad. And one of the stories that we brought up on ah on the extended length Jazz and Jesse on Thursday night, um, was this woman in New Jersey and it may be this this New Jersey woman in the first headline I'm not actually sure. Ah, but she know it's actually that's a different one. Holy shit. Yes. So the one the one that I saw was it was It was an older woman in her seventies who was the mother in a very large Italian family, and she actually died while her before her two other Children. Sorry, I got this wrong 70 year old mother, matriarch of the family gets Corona virus, goes into a coma. Her two oldest Children died before her, and she didn't even know it because she was in a coma. And her two oldest Children, I think, were in their fifties. So yeah, this is this is not just the boomers, bro, and it's actually ravaging a lot of people. And I've seen people also court of sort of doing this kind of, I don't know, people have this tendency to be like, Well, I don't know any anybody around me that has this this yet so spooky though, right? Spooky. And it's like they're only how many people they tested in the whole country right now. 15,000 16,000, 17,000 people. And we have 10,000 cases. So, statistically, is it likely that somebody you know is going to have this in a country of three and 50 million? No. And when Onley sort of ah, wealthy and v i p s air getting tested, uh, you're not going to know? And so the I I have heard of people who have gotten this. I know of people, um, you know, maybe with one degree of separation who have gotten this, I don't know anybody yet. And I hope I hope that we don't. I hope that we don't get that far. But the people who have been rolling the dice on this and doing the YOLO stuff which we've been talking about, these people are just spreading this shit all over the place. And your This is why you're getting a reaction. Ah, from from a lot of these state governments, Like like California now, California Governor Newsome, At least he he and Illinois are both actually saying they can go much further than the honor system lockdowns that they're doing. So he claims that Laura enforcement isn't going to be actively enforcing the order, but that's a recipe for chaos, and I think he's just saying that. So CHP and other law enforcement in California people don't fear the police, But, uh, I think he is telling you exactly what's gonna happen when he says, Ah, he said he ready the National Guard for action. And then they emphasized that its duties air for just routine natural disasters and other emergencies. But, he said, We have the ability to do martial law if we feel that is necessary, said uh Newsome. And so they have 1300 cases so far. 70 today, um, only handful of recoveries. But L. A county has also put things on lock down. As of Thursday night, the whole state was on lock down as of 8 p.m. Right And those numbers of cases and deaths are also suspect because we have this week l. A county announcing they're giving up on containing the virus doctors air skipping testing for patients that come in showing symptoms. And the only time in which doctors are now instructed to to test patients is when the patient indicates that they will quarantine themselves or their promise to quarantine if they get a positive test, if not there being released back into the public. So, yeah, there's a massive shortage of ah, not even not even shortage of of tests. But it shortage of hospital beds as well they only have 200. I see you beds remaining in the entirety of L. A county. We have nurses just walking out of work and protest ing conditions. The testing, the testing has been stopped. We're gonna talk about testing after Illinois, but testing has been stopped in most places. They started it. Remember at the beginning of the week, that was when you were gonna have a 1,000,000 test off four million. Test out, though, that both of the no, they most states have now walked this back where the only people that are actually eligible to get a test are people who are medical practitioners or people who are like falling down on the concrete wheezing because they can't breathe like you're You're not getting a test at this point, they want to, but they reverse course on all this because there's not enough. So you really have no idea how many people have this around you. In fact, that's the thing that people were like, Well, I don't even know anybody who has Corona virus. It's like, Yeah, you dio, they just haven't been tested yet. That's the It's like just And the other thing is people that have symptoms that is not enough in most of these these cases where they have these drive through testing facilities, these are popping up from New Jersey to California. The problem is to be eligible for one of these drive through tests. One needs to be referred by a doctor. Now, if you're someone who has a fever and is coughing, are you going to want to risk going to the doctor now? Despite did not knowing what you have low risk infecting or risk contracting Corona virus by going to the doctor, know you're going to stay home and you're not going to go see the doctor for that? Refer Well, example right? People been told, not even to leave. I've seen some stupid people being like I'm gonna go to the emergency room because I don't feel good. And people are like, uh, yeah, you're supposed to call somebody and tell them what you have, and then get Lloyd for them to give instructions. And you're like, Oh, yeah, I did the video thing, and I didn't like how the how that went. It's like, OK, so you're just gonna go risk infecting like five people and maybe killing a few somebody's grandma or a grandpa, cause you're a selfish piece of shit. Yeah, awesome. What? You fucking listen. This is a This is the problem is like society is been predicated on really most people not having to do very much for themselves. Like people have totally lost touch with what actual sacrifice means. So people just are going to do whatever the hell they want and, you know, they don't give her. They don't really give a shit. And they don't understand and comprehend, like how how risky and dangerous their behavior is. But Illinois has also done something similar to New York and California, of course, New York, California, Illinois, These to the homes of the largest cities in the United States. Um and he's been a bit more honest about not be not, You know, this honor system bit that they're doing not being the final leverage, he says. For the vast majority of you already taking precautions, your lives will not change very much. We don't know yet all the steps were going to have to take to get this virus under control. So for the people who think that this is Thea Honor system Ah, you know, shelter in place is sort of the last. The final thing that they can do that. That's not true. Um, and you're seeing this take off. There's been this graph going around and just to throw some numbers that you guys. So it took the world three months to get to 100,000 cases to get to the next 100,000 cases took 12 days. How many days do you think it's gonna be to get to the next 100,000 cases, James, Like three or four. Maybe. Given what we saw in Italy last night, where in on Saturday morning, Uh, Italy reported 760 some odd new deaths, which is a brand new record. You're almost getting to the point where deaths are increasing by 40 50% every day. Um, and it's it's a shit show. And so if you look at this graph that's been put out by the Financial Times, no other country has been this far into the pandemic and still have the number of cases growing at the rates the U. S is seeing. And we're doing the least testing. We're putting out the fewest number of tests. So you look at this graph and where the purple line with the US just skyrocketing past China and Italy, and people are like, Oh, what does that mean skyrocketing? We don't have as many deaths in Italy. No, it's It's about the trend line. It's about the slope of the line in the direction that it's going and they're not testing anybody. And they're not like it's not like we got four million people tested this week. James. We've still only tested 16 17,000 people, and we have what? How many cases in the country? 15,000. I mean, so what? Everybody, That's testing is like 80% positive rate. I mean, that's insane. Yeah, I think the latest numbers on the total tests they were. Yeah, they were not nearly as high per capita as they were at this point in other places like South Korea, right? And so we have 22,000 cases confirmed in the U S. So far, 20. Excuse me. 23,000 cases confirmed in the US, and we have actually crossed that 300,000 worldwide Rubicon. And that was on March 21st. And that is three days after hitting 200,000 worldwide. Chap it on March 18th. So Ah, yeah, three months to hit the 1st 100,000 12 days to hit hit 203 days to hit 300. And this is happening. And this is something people have been mentioning for two weeks now, this increase we're seeing is coinciding with the U. S. Bringing more tests online, and this again speaks to why they were so reticent to bring any tests online. Make any tests available in the U. S. Is because they knew it would imagine this. If you test more people, you have more infections. And this is way also part of what's going on into, Ah, what's factoring into California response as well, by drat dramatically scaling back testing. You can say some of it sure is due to rationing for healthcare workers in E. M s and and police and fire etcetera. But I just don't think they want to see 100,000 people infected in California, which is what they're likely to find as Gavin Newsom. In fact, more than that, as Gavin Newsom projects, 56% fitting for California of California's population will be infected in the next eight weeks. Yeah, and we've all seen the Grimm case scenario and best case scenarios, and I think those sort of change on a daily basis, But the simple solution, you know, to instead of, you know, writing think pieces about. Here's the grimmest version of a year life A year from now, here's the best case. How about we just fucking test people, right? I mean, this has been a problem. And is it due to supply chain freeze orchestra monopoly? We don't really know yet, right? I mean, we sort of know we have a pretty good idea by connecting the dots. But you had a Corona virus test that didn't work. Then there weren't enough to go around. And now is the federal government is trying to ramp up nationwide screening. Laboratory workers are complaining of not even having the right test supplies. They don't have swabs, even if they do have the tests. And if the United States were actually taking this on in a very serious way, we would be screening 102 150,000 people a day. But we're not right, like that's, you know, when they put up a chart on in the C. D. C H Q Command center or whatever. And they have number of deaths, number of new cases, number of recoveries. You notice they're missing a bunch of metrics on the board. I want to know how many people were tested yesterday and how many people were positive. I don't want to just no new cases. I want to see a numerator and a denominator. I want to see more data and they don't They're not putting that out because people would get pissed if they started saying and I mean, you know, this is from Ohio Due to a shortage of tests, Ohio's governor, Mike DeWine, who has actually been pretty serious about dealing with this I mean They shut schools down in Ohio a long time ago, long before a lot of other states did. He's saying the Corona virus tested Testing will now be limited to health care workers and those already in the hospital. So if you show up or you get on video, chat with your doctor and you say, Yeah, I have a bunch of symptoms Unless that doctor says you have time for you to go the hospital fan like you're not getting a test. So yeah, nobody bringing this stuff up. Right? And the number of people being tested at U. S. Public Health Laboratories is actually decreasing, right. The CDC has scaled back testing Ah, nearly 20 with the expansion of tests and tests being made available of these public health laboratories. But even they are decelerating in terms of people. They're testing that they peaked in in ah in mid March on March 16th at 6000 samples and that samples not even people tested per day. And now they've fallen back down into 3000 or 187 on on the 18th right? So, yeah, the amount of testing going on a public health laboratories is collapsing and this is This is not I mean, South Korea, right? This is what they were doing. They were doing 220,000 day us were doing 3000. 4000 6000 today it's wholly insufficient. Yeah, there's some. There's some ah, news breaking news, whatever saying that they have Ah, they're in the process of fast tracking a test that would get you results in 45 minutes. I mean, right now it's taking five days to get results. So, you know, if somebody goes in, does a Corona virus test or they are they still I I would hope that most of those people are self isolating. But what if your I'm not sure take a test and then, you know, But every V i p every like, ah, a poop or what? It might calm hoop apes. All the hoop ape Scott tests, right? The entire squad of the Utah Jazz got got tests. No problem. If your V i p get test, no problem. Um, and that's another cope that people are doing like, oh, they only see celebrities and very important people testing positive or getting its again. Because those are the people who the tests are being prioritised for. Figure it out, Not that heart. So Kushner family has been cashing in on the Corona virus. Um, he initially believed that the virus was not a healthy reality on the threat was being hyped by the media. Um, and then he hijacked the Corona virus Task Force. You can read up on that there plenty articles out there about this and, ah, you know, you have a bunch of non government profiteers coming in and you had one senior official saying, We don't even know who these people are. Who is this? We're starting to get all these emails thes air, the official CDC people like Fauci's team and Deborah Berks and so on and so forth. And, you know, it's like Jared Kushner's injecting himself into every part of this process. Uh, and he wants to have this entrepreneurial approach. He's the guy who wrote Trump some press conference last week that he did. Was it last week? Yeah, I guess. Last week on Wednesday, um, where they claimed that there were 1700 Google engineers developing a website that would, ah, centralized how people would look at national testing. And as far as I know, that site is not up or it's up. And it's not working like all of that, just like went up in smoke. And Google isn't working on this shit. This is Oscar Health, the health insurance company founded by Jared and Ah, his younger brother, Josh Kushner. And it's basically just a testing center locator that they worked on with a subsidiary company called Verily of Google. And it doesn't even work. And this is why you haven't heard anything else about, like what happened to Donald Trump's website, where you can go on like, dual the shit like you can't and you know this website is is to help people get tests, helped them get medical care. And if it's anything like the other things, that Oscar health has done such a selling Health Insurance and Ohio under the Affordable Care Act that had a deductible of $15,000. The company also sold health insurance under the Affordable Care Act in 15 other states. And, of course, the Ohio bit that they did was met with a lot of angst and rage from people. But the good news is the upside is is that Oscar Health lost $110 million in 2019 almost double the $57 million the company lost in 2018. So if they're making money, I mean, a lot of ships going out the door with these guys. But, hey, look, I mean, you know, the other side of ah, the Chabad Lubavitch family of Jared Kushner to which he belongs there, making out pretty good. Aren't that James Massad got 100,000 Corona virus tests? They nabbed them. According to the headline Bloomberg, they nabbed these tests 100,000 of them. And it seems like it was at the direction of Ah, Netanyahu. Um and yeah, so that's kind of funny. And Israel, by the way, there's kind of a black out on news from Israel. You heard much since they shut down their borders. That's kind of like the last big headline that we've gotten kind of don't know anything about what's going on. None other than some some Israeli celebrities singing Imagine, in a viral video, uh, I have not had much contact now, have nothing. Well, I forgot to play this audio and we're talking about new York, but actually have audio of the chatbots being of Chabad Lubavitch. Um, they have a world headquarters in New York City, and I will try my best to put this photo in the show prep. I was promised. I'm gonna put stuff in the show Prepper in the in the show notes, and then I never do. But I will try, James, Just remind me to put the fish I photo of all the rabbis in front of extra Bob Lubavitch like, Oh, my God, this is fucking crazy. But apparently, you know, they're under order in New York, where you can't have gathering serve either 50 or more 10 or more. I think it's 10 or more, and ah, these people refused to disperse from the Chabad Lubavitch world headquarters in Brooklyn. And I have audio of of the cops coming in and telling them to get the fuck out, which is kind of funny. They had to be told to leave way, way, Yes. So, apparently the Chabad Lubavitch world headquarters in Brooklyn has been shut down. Um, and these people are refusing to to leave. Um, So and we've seen these the you know, for the people who are saying that this is one big gay up. It's like, well, explain why 100 recedes tested positive for Corona virus in in New York City. Um, you know, because these people refuse to break up and, you know, they're kind of, you know, the conservative Jews, the Jared Kushner milieu of of Jugic, not juicer. Some of them, you know, these some of these people are there. They're not as bright as advertised. And, ah, they refuse to break up, Especially when you get into some of the more, ah, nasty stables in New York. It's it's kind of problematic and and they're disgusting. I mean, these are disgusting people. And so, yeah, they're being told to break up. But it's It's kind of funny how Jared Kushner is the guy who was initially saying that the virus is not really a health reality and that the threat was being hyped by the media and he, you know, that was It's funny, like you can say, like all right, Well, the media's is framing Jared Kushner for being the guy manipulating Donald Trump. But that's exactly what we saw in the Trump response at first right. It was all about every every every news conference that Trump had was a self congratulatory look. How good I'm doing. I'm doing an A plus job. There's some you know, not that many people are dying in yada, yada, yada. Just the flu, bro. Forever. And it's like, Well, that's it's kind of what What would motivate Jared Kushner, right? I mean, he doesn't want this stuff breaking people up, but I mean, that's what role and this is. And this is after Jared's plate has already, you know, swamped plate of responsibilities. He's in charge of securing the border. He's in charge of criminal justice reform. This happened after Jared had already been tapped to to assist in leading the administration's response to Corona virus. And sure enough, you then had the the town hall that Trump did, where he came out and and touted his his very high good high poll numbers were doing great and downplayed this thing until it became impossible to downplay any longer. And this is something I mean for all of the the fervor and this is a point that's been made before. But for all of the anti Trump er ver that. Ah, to what extent it still exists in the media. Isn't it funny how Jared Kushner and his multitude of conflicts of interest almost never get mentioned? It's It's not mentioned that he and his brother have this this prominent share in Oscar health, and he is leading, assisting and leading in the U. S. Public health response to a pandemic. I mean that just that it seems like something that should be reported. Yeah, it seems like something that they should report and they don't. And, you know, we don't know where these supplies air coming from. And you know that that we held back on testing to make sure that Kushner companies could spend up their production and make sure that everybody gets tests and masks and everything that they need. And maybe that's maybe that's really what the delay is all about. I think it's a little bit of all of the above, because the administration doesn't have an incentive to test 150,000 people a day. Just look at all the graphs and it'll tell you why, um and so the reaction, instead has been to this. The slow, incremental sort of penny ante way of dealing with this and I've said this before on this on this program, even Norm ease are are sort of expecting more authoritative action from the government. That's what they want, right? Like his Borzoi said on the midweek FTN. The only solution of these liberal problems are a liberalism, right? Like that's the thing that is going to solve this problem. And so far, you know, we're having were inching toward what may be a national shutdown. Now I'm gonna parse this narrative because people have to understand. The newts were famous for notes here on FTN, and it's important to understand there is a lot of disinformation that is coming from various sources on the Internet and, you know, some of it, some of it is false. A lot of it is false. The things that are like, I mean, who remember, you know, three days until National Gordon Dean and then nothing happened. And it turned out that it was like, yeah, that was bullshit and people were buying into it, whether you know, and then people sale, I have sources who say It's it. Shut the fuck up. Everybody has a buddy. Everybody has a buddy in the National Guard and telling them it's coming tomorrow. Yeah, right. But see that? What? They're it. But there are. But the National Guard. There are military vehicles out on the roads like the National Guard is being deployed. It has been deployed in a lot of these places, but people are sort of taking what is actually happening. And then, you know, amping rumors air getting amped up about something on top of it. And so people see military vehicles parked under a bridge in Baltimore, and then they extrapolated that into whatever fantasy land that they think is coming. It's like that equates to like Mad Max tomorrow, and it's not so We're gonna try to parse that out and sort of tell you what we think is coming and the reason why they would do it in this way. So you have all these governors saying, Here's what we've done today and here's what we can do if we need Teoh and then you look at graphs and you see that were 40 days out, as Cuomo said, from Peak in New York City, and that's a highly concentrated area, very densely populated area and that that peak isn't gonna be for another 40 days. What does that mean For other parts of the United States? Massive country that is spread out heavily populated but spread out all over the police, people refusing to stop flying and whatever it's going to take a very long time. I think people aren't accustomed to be thinking in sort of these exponential terms like James. Like have you got symptoms tomorrow, which I hope that you don't. And I hope that I don't know. I hope that nobody listening to this program ends up with symptoms. But you, like people have to into this. If you get symptoms tomorrow, you have to think back to who you were in contact with two weeks ago and what you were doing two weeks ago to even hope to pinpoint where this came from. And so people aren't used to thinking like that. They think of like, you know, if you get sick, like prior to this virus, if you got sick and came down with something, you think of who you were in contact with in the last 24 48 hours, right? You think of like, Oh, I just flew through a major airport and now I'm sick. Well, obviously it was the airport. Right now you don't get or o. R. A friend of mine had had a cold and we hung out a few days ago, so I probably got it from him. Yeah. I mean, this is something that is very simple for people to do, in many cases with common cools. But the complicating factor here, one of many is the period for which the virus can lay dormant in people and you could be asymptomatic and yet contagious, which is unusual, which is not the case with most common colds or or or others that require you to be sneezing and coughing and a spearing germs on things. We just don't know how long people could be contagious for. So, yeah, it becomes very difficult not only to track where you got it from, but also then to track who you may have given it to if you do become infected. And that's why they're I think in some cases there's good faith action being taken to lock this thing down. Because most people society has become largely a collection of helpless people. Um, who are just, you know, economic widgets to sort of keep the thing going and keep the people at the top wealthy and in charge and in power we're gonna get to Ah, the legs were getting kicked out of that as we speak, which is the reason you're seeing the reaction, right. You have to connect these things together. The reason you're seeing the overreaction from government in the placement of guard in places like Connecticut, Louisiana, Minnesota, New Jersey, Pennsylvania, Washington State. And of course, I put a huge asterisk there because it's probably going to change within 24 hours of me recording this with you, James. So it's gonna you know, we're gonna have more Washington, Do you see? The guard has been activated and Wisconsin has also activated their guard. It is also in use in Florida. A swell Azaz Arizona. I think we covered all the other states. And so, um, you know, they're saying that they're ready to mobilize the National Guard potentially to help them work with first responders. And the reason for this is because, remember, we talked about when these orders start coming in to shelter in place and that all businesses that are non essentials, such as, you know, some restaurants and power production and, uh, emergency medical, secure or whatever when everybody else is ordered to stay home and you have most of the country. What's the percentage James of the people in the country who are not only living paycheck to paycheck but have no emergency fund? It's It's ecstasy, and it's about 50 50% living paycheck to paycheck and an additional 15% depending on credit cards, right to ah, to get by Exactly. And like, that's what we focused on last weekend. Um, on ftn was Thea, you know, big line go down paycheck go by phenomenon and what happens over a period of time and they're they're looking at this thing. It's like, When were the first orders really started? When was it a new thing for there to be a shelter in place, like march 8th 9th? Um, was when some of the first ones started coming in. And so you're only, you know, almost two weeks into that and you know, they're people who, two weeks, you know, ago they got their last paycheck and things are going to start to get dicey. And the reason. One of the main reasons the National Guard, I think, is out there is obviously to stop looters and potentially violence and riding. And, ah, you're seeing crime start to tick up. And it's one of the reasons why there may be maybe mo mentum building behind the scenes for a national shutdown. Now, before people Ah, gawk at that. And ah, balk at that a little bit. What I mean by that is they're either going to do it by having all 50 states on more or less the same set of rules, or the federal government is going to come in and enforce it. Um, if if some states aren't moving fast enough in that direction, and the reason why they're considering doing it is because they're seeing what is coming out of Italy, you're seeing what is happening in Europe more broadly, and the fact that there aren't that many people getting tests and you have that two week lag time and people aren't doing what they need to be doing in taking this seriously. Uh, and so we may very well get to that point. Um they. You know, they're saying the president is considering grounding all US passenger flights because if you pull up flight aware and look at the live view of all the flights in the air in the US right now, you know, you talk about super spreaders, just those metal tubes flying around 500 miles an hour that that's a super spread. Or even though those flights or what, like 30% full. Um, and they're just gonna have to rip the band Aid off. And so they could do this a couple ways. There's a potential to do it by executive order. The president can do this, um, via executive order. And I don't think the Scotus is gonna overrule him on this because I think because the entire financial system is at stake here and that's really their chief concern. It's not your health, like, just so you know, when these people are having their closed door discussions door locked, classified only discussions. They're not talking about the things. This should be obvious to everyone. They're not talking about the things that you see in the briefing. Like that is what gets shot out the other side. But behind closed doors there talking about things like, Can we sacrifice the economy, or do we let 50,000 people die there talking about trade offs? They're talking about how many people can die, How many people can get sick? How Maney, How serious is this? How how soon do we have to react to this and how much can we absorb? And I totally agree with the take from tedious a couple weeks ago where they're perfectly fine with X number of deaths. I don't know what that number is because they can just back fill those with the people from the Third World. They're actually OK with that. And they would sacrifice a lot of people to keep the economy in tip top shape. And the problem they have is that they haven't even sacrificed that many people like this thing hasn't even gotten rolling yet, and the economy is already shitting the bed. And so that logic tells me that they're considering this because it's all about saving the economy. This is why you see Trump like taking this wartime footing because as an executive in quote unquote wartime, he has farm or broad executive authority and he's going to get a measure of deference from the courts. It also eyes Will Westcott. You've got to give the guy Kerr at it on Twitter, cause it's true. It's Trump is also trying to mean himself into being a wartime president to win re election. So it's not gonna work. But for the people who think like like L O L Donald Trump executive order no, like there, actually a lot of justification for why they would do something like this. And it's to save capitalism. It's not to save you. Yeah, no, that's exactly right. And this this presentation of Trump is a wartime president. It's This is part of this ongoing administration effort to I mean, you mentioned backfilling dead Americans with foreigners. But they're also playing catch up, trying to reassure the markets and and reassure these finance financial institutions that they're actually taking this seriously because again, they made their initial gambit waas to pretend that it isn't real to pretend it's not going to have wide ranging effects. And that is something that could be papered over but that that plan fell apart very quickly. And ah, we have Ezekiel Emanuel saying that we're We're two weeks behind Italy. Ah, and you know that does not portend Well, he's a former Obama aide now, Ah, professor at University Pennsylvania. But that doesn't pretend well because what we're seeing in some of the most populous states, some of the biggest cities, most wealthy counties in America is there. Health care systems already are already at the breaking point. So if we're two weeks behind Italy, which is probably a mis estimation, probably more like 45 days behind Italy then and we're already at the breaking point, I mean this you're absolutely right There go. They are making calculations now about how bad things can get before they have to take mawr, as they would say, draconian measures with the intent of saving the economy, not about saving people. If it were about saving people, the entire response philosophy would have been different. And it would not be this. This sort of like. It's almost like a regretful, regretful actions they're taking. No, they don't want to be taking the actions they are, even though it's the right thing to do for people's public health, right? And that's why there was conflict in the messages that were coming out of the White House. And there still is like Dr Fauci, I believe, until I've been going given reason to believe otherwise, I mean, the guy has been around for a number of these different pandemics that have taken place. I believe this guy has the country's best interest in mind. I believe he has people's health as the best interest in mind. You don't think you don't think he's an enemy of the people like Bill Mitchell? Yanks? Yeah, he's a traitor to America. Bill Mitchell has gone from in case you haven't seen this. Bill Mitchell has been gone from Buy the dip as theater. Aziz the stunk sehr taking to Friday afternoon pfoutch. She must go hashtag fire Fauci. I mean, this is I think the guy is officially fucking broken at this point. But ah, but yeah, like I'm trying to illustrate the point without cheese, like this guy, actually, I believe cares about people's health. Now his message may get attenuated in, modeled by the administration making demands of him, and I would hope at a certain point that found she quits. If he is being pushed in the direction of the government more broadly, Donald Trump and Jared Kushner of protecting the markets over people. Which is where you saw a lot of the friction in the beginning, as far as Ezekiel Emmanuel's prediction about two weeks behind Italy. Yeah, we might be two weeks behind Italy in in terms of just raw numbers, but we're not two weeks behind Italy in terms of trajectory and upward slope of the graph for a much bigger country. New York is far more densely populated than even the most densest, populated, densely populated regions in Italy. Ah, and so, yeah, I mean, he it's kind of like it's comparing apples to oranges, but we do know and what we're going to get into, um, later in the show, actually, behind the bonus in the bonus section of the show, we're gonna be talking about, um, the China China numbers and some things like that and diving into that, uh, Italy is kind of this now this canary in the coal mine, it's the European epicenter, and it makes people start to not believe the Chinese numbers. It's like, Wow and saying that for weeks to make imagine that what's roots really going on over there now. Also do the nuance in the China stuff, too, because, ah, GOP and it's, um it's little gay. Little foot soldiers are out there doing doing the Shabbos work to attack China. But there's new. It's there's nuts to China. They're wrong, were right. And that's usually how that goes. Now the borders have been getting closed. Um, I do have some takes on this because, you know, people are planned thrusters or running with this and doing the whole you know, See, Donald was right all along he was going to do. He was gonna come through with us for all along. And I said, I said to a couple B because like, No, this should make you mad. This should make you angry that this is happening because what it proves is that the president and his administration and this government, we're capable of shutting down the border all along. And they did not until it really it was really affecting them. This is this is kind of a litmus test for how much they don't give a shit about you. And it's not a litmus test for us. We knew we knew were like, We have been off the train for a long time. So but people are Yeah, he's on the same page. Is Trudeau right? It is closing the borders. Actually, after Trudeau is the hard core for you, America President. And so this is It's at the point now where they really like their hand, is being forced here. And for anybody saying that, Well, Trump had things had to get bad enough that he could do it and and it's like, No, shut the fuck up. No, they didn't. They didn't cause think. And also, things were bad before, right? As if the rape and the murder and the displacement wasn't bad enough, the total invasion wasn't bad enough. We have had public health rationalizations for closing the border as well. Tuberculosis, measles, etcetera like No, none of that flies right. And this could have been done before people wanted it to be done. Could have been done in 2017 or right after he was elected and had maximum momentum. But now we have to wait for a pandemic to do it and follow Justin Trudeau's lead on border security and into the people who are who are out there saying like I don't like it when you are always rag on Donald Trump. It's like, No, we're going to challenge this guy now like the got He got elected. He didn't turn out to be what anybody wanted him to be. He's totally turned reverse course on every major decision. Like I said on J and J, I'm actually glad that 30% of the things I'm glad that Trump isn't keeping 30 or 40% of his promises, because then I'd have to be battling bullshit like that to show, you know, because the people who are like, well, he's not perfect. It's like No, actually point to a single thing that's happening that has worked out in your favor that you can tell that he is actually working for you and on your behalf. He's not, especially in this crisis. This crisis proves it beyond a shadow of reasonable up. And then you hear shit like this where he says that the border would quote be sealed off mostly and even beyond, but mostly during this global pandemic. So he's putting this teaser out there for people to cling to. It is not going to be shuttered beyond the pandemic, and I would even argue that it's not closed now. We've been saying for weeks. It's not closed. Donald Trump is claiming is closed. Go look, go look at a live view of flight aware. And look at all the fucking flights coming in and out of Asia and in and out of Europe into the United States. Now there is essential travel. I get it. They do allow citizens to come back, but the borders are not closed. They're getting closer to closing them. But they are not closed. Only Italy has closed its borders and maybe a handful of other places, but truly closed, like you cannot leave like they're giving chant. They're giving a chance for people they need to do is say, all right, you can come home now, but we're closing this shit down and you can't leave and you can't go. But no, there always thes. It's long as there is an exception for somebody. There's there's a vector for the disease to come in. But you have, you know, people sort of celebrating. You know, this this rule that people will be quickly removed and repatriated to their origin country. But guess what else is happening. Isis announced that they're not doing enforcement inside of the United States. And so what's happening? What would What would be great right now as we get into some of this economic data in the second half. Um what? What did we see during the crisis of 2008? You saw a lot of people leaving. You had Obama deporting far more people than Trump ever will or ever has. But you also had people leaving on their own because the economy is tanking. Those of the people that never belonged here in the first place there people that don't have a yob and they don't I can't wait for all these ya bliss to leave, But they're probably not gonna leave. Why? Because they're not gonna be lot allowed back into Mexico. That's part of the agreement. This isn't just a one sided deal where the United States is like, Yeah, we're not letting people come in. Mexico isn't gonna want people coming back. And the United States isn't incentivized to allow those people to leave. They want those people to stay. Those people that are gonna have to do all the the yobs whenever this thing spends back up a tsum point. So we're not even gonna get the natural phenomenon that takes place in a recession or a depression of mass immigrate. Mass emigration, meaning people are leaving For those of you on rail Rhinelander, you're just gonna get all the people that came in the millions of people who came in under Trump's tenure and have not been deported. They're just going to stay there, probably gonna get checks to, um, you know, with your probably your Social security number, James. So you know, Yeah, the cash, your refund. And then you will get the pleasure of paying back that interest free loan in 2020 when you do your taxes. Yeah, And you know, there is the natural phenomenon of self deportation that takes place in situations like this from time to time. But what would be great and what would be a very astute political move at this point? This is not giving advice to the Trump administration because we know they're probably not going to take it. Total it. If they were serious and right, if they were serious, though, you would see in this, it would be, would be very smart. As we're looking over the cliff into 8 10 12 15 20% unemployment, you would see the ice vans, you know, gassing up on git in the fields and getting people rounding up illegal aliens and taking them back from whence they came. Because you're going to have so much demand for jobs. So many more people looking for work, especially in this sort of transition period. Your people will be looking for for may be temporary or part time work just to pay the bills and make the payments on things they need to pay for. So these will be the people that are directly competing with these illegal aliens. And how great would it be to to guarantee or to help out these Americans that are looking for jobs by making sure they're not having to compete against low wage foreign interlopers by deporting them? But but no, that's not happening. And the Guatemalan government this week announced they are suspending their not going to accept any deportees from the U. S. And this is what Mexico is doing as well by closing their borders. So we're getting flex on by the South American countries that are saying, Yeah, you have our refuse. You hold on to that for a while, it'll get him back. Em, That's how about that safe third country agreement. Am I right? Like what happened there? You know, this is a shit show like and actually under probably many other. In fact, under Obama, what happened in a contraction in economic contraction like this, people got deported. Obama is reporting half a 1,000,000 people. I mean, that's a drop in the bucket, but they had to because there was significant economic pain. And so anybody celebrating these reactions only out of necessity reactions by the Trump administration is some sort of major step forward. It's like, Yeah, I'll celebrate it for one one reason And one reason only is that it will be something. It will be a phenomenon that people will realize could have happened all along and didn't number one. And there could be some people out there who get accustomed to the idea of Hey, things get better when the borders are closed. Let's keep them close those air to possible phenomenons that could come out of it. But I'm not hanging my hat on any of those. And certainly not looking at Donald Trump is as this this renewed spirit where he finally got it done. He's gonna be selling that shit to people. And he already is. He already is trying to sell it to people. Is this great big victory and it's like, No, it's not. You could have done this all along. You didn't. And there's a reason you didn't. We all see it hiding behind you in every fucking public photo that's been taken. Jared Kushner? Yeah, and let me. Well, actually, that second point there quickly, I think this is actually going to this is actually nefarious because what you have now is the borders being nominally closed, this being presented as a win, but things they're going to keep going, getting worse. But this is not going to This is not going to make an appreciable difference in the trajectory of the virus in the U. S. And you will then have people who will look at this and say, See, See, we told you, closing the borders doesn't do anything to stop disease. See this? It actually made it worse because now we have more debt, it's and it's being presented to like like, Whoa, I never thought of it that way before. Like dumb liberals, but, like, this is going to be become part of their rhetoric. Well, we close the borders and more people died. Yeah, we have to push back on that. Yeah, that's another another. Ah, sort of consequence, I suppose of being at home. Maybe it's not a consequence. It's maybe an outcome. Um, maybe people get back on Twitter and start pushing back on these narratives. I think I'm going to be, um people have to figure out who I am because I'm not going to say Ah, but I'm gonna jump back on there and start getting in the mix on some of this stuff. Um, because it needs to be said and this is a This is a pivotal political moment when there's a lot of, ah, substantial change going on within the country, and we need to point that stuff out and you have crime sprees already starting somewhat. This is a precursor. This is sort of what they're attempting to sell for with these rebate checks, which we're going to talk about But this is already starting and it's gonna get worse. And this is, you know why you need to be prepared with more than just food and medical supplies. New York See surgeon crimes, Organized crime? You have robberies being Ah undertaken. Teoh. What was this one? Robberies by suspects wearing medical mass reported in multiple states. Last Saturday, two gunmen wearing masks jumped a group of workers transporting $200,000 in cash. Holy Fuck! At an Aqueduct racetrack in Queens, New York, on Wednesday, a man in Boston robbed a bank while wearing a surgical mask. On Friday, the same thing happened in New Jersey. This isn't the first time that this has happened. There's been a series of robberies in Austin, Texas, so you're going to start to see more of this. You're also going to see organized crime kicking this up in gear. But I have more headlines as well, because it's not just organized crime. Um, you have black market stuff going on as well. An organized crime. For the most part, we all know that just Jewish black market stuff. Deputies pulled over a an entire stolen trailer of toilet paper in North Carolina. Uh, you had. Chicago has seen a 43% rise and killing so far in this year versus 2019 violent crime sparked in the nation's deadliest large city last week, according to Baltimore Police Commissioner Michael Harrison. Surge in Indianapolis Crime follows trend in other Midwest cities I You Professor says spoke, ain Is it spoke, Ain or Spokane James Spokane. Okay, Okay. Spoke Ain PD addressing at the site. Wrong, right? Have to say it wrong. It's only the hallmark of the show. Spoke ain PD addressing increase in crime as businesses close due to Corona virus, FBI sees a surge in fraud schemes due to Cove in 19 Outbreak provides tips to residents while the FBI possibly actually doing its job. James is that seems like what it's doing. I don't know, actually, busting people are, I hope, Yeah, closing that, Shana, that's a tab on HN and going over toe. Get some of these people selling fake fake Basques or whatever and then back and then back thn eso. Um Then this is kind of interesting. And take this with a grain of salt before people read the fuck out. Just hear. Hear me out on this whole thing. So there haven't been that many studies done on the relationship between being unemployed or newly unemployed and, um, crimes. Now you can take this all with a grain of salt. But let's just say that this is the baseline. Or let's say that this is even half true or half accurate. Think about what it means for people not in this particular country, which was the focus group. So, according to a new study of one million laid off Norwegians over 15 years out of work, people commit 60% more property crimes such as theft, shop, living, shoplifting, burglary and vandalism in the year after losing work and have 20% more criminal charges than when employed. These are huge numbers and very relevant as US workers face layoffs nationwide. This is exactly what we've been saying for weeks and why the government is reacting in the way that it is. The researchers suspect the layoff crime is even more prevalent in the US yet no shit cause the U. S. Is in his white Is Norway right? But no US data exists connecting individuals, employment, crime and employment Date and I couldn't find any other studies. But here's another reason Norway has a very strong social safety net that makes job loss less painful than in the U. S. So both income and psychological effects of job loss are likely to be far more severe in the US US is also getting to be almost majority non white. And so you know you have a place like Norway where they have a strong social safety net. They lose their job. And then if you if you even say that half of these statistics are true and I don't even, you know it's based on the crime rate or like whatever. Like the actual arrests or however this. However they conducted the study, let's just say it's even half true well, matching what that is going to mean for the United States. Um, especially people at the bottom of bass bass, bottom of of the ah, the economic strata getting fucked by this. And of course, this study looked at male workers between the age of 18 40. Researchers initially included women, but found that laid off Lammens do not camp it enough crimes to be included. Yeah, it's probably true, but you know Norway. Yeah. You don't have enough big black women start committing crime like we have here like we have in the UK. I saw the video from the supermarket in the UK where it was ah, horrid of black women just beating each other up over, over, like, a shopping cart or something. And and Yeah, the other thing here is that these people are committing 60% more property crime when they're laid off more than their baseline. The U. S. Property crime rate is higher than Norway's is already. So a 60% increase will result in much more crime in the at us. And also, there are more people in the U. S. The U. S has. If we're looking at 18 to 40 the U. S. Will skew younger in that demographic. But it will also skew Browner in that demographic to write it. We're going to be looking at I don't know men age 18 to 40 probably 50% white would be my guess, if not if not less than that. And so you'll have ah, population more prone to crime people that ah, higher baseline of crime already. Yeah, I mean, this this as it plays out, is going to be worse than in Norway. And the other thing being that in Norway, I think the point about the social safety net is one of the most important considerations here. Because you don't have to worry about your medical bills to the same extent you have to worry about about, ah, cost of living things as much in Norway as you do in the US I mean, it's different and they're think some things are more expensive and and and all that, But you're right like, yeah, it's going t letting me much more traumatic for people in the U. S. To lose their jobs and the U. S. Also, people have less savings here. People spend more on credit here. People take out bigger loans here, and when you can't make those payments, things get pretty rough. Yeah, and I wouldn't be surprised if some of the people included in this study of quote unquote Norwegians are people who did not belong there. People who are not actually ethnically Norwegian. Of course, the study doesn't give you break down by race. I looked for that. Of course. The first thing I look for. But But let's just say that because the crime rate in in Ah, Norway is already exceedingly low because it's it's white. It's got a great social safety net. But let's say that the people that were picked up in the study, where people who ah, we're not white or people who did not belong in Norway in the first place, they this is going to skew the study. But then, even if it did skew the study, it's going to be more accurately a reflection of what the United States is like, right, because the United States is nowhere near I'm sorry. Norway is nowhere near even at its worst day on an immigration influx, nowhere near thes swamping that America has received. So I think, you know, overall sort of 50,000 foot view. Yeah, like the United States, the correlation between crime, property, crime and criminal crime is gonna be criminal crime criminal charges. I's gonna be something that is going to be pretty bad, and so they're trying to solve for that, right? Like this is, this has been a common theme on our show and talking about as this gets worse and as we move past the dates that a lot of people in this country, a growing number of people in this country have gotten their last paycheck for the foreseeable future. How is the government solving for these problems? Because in Norway you'd have a lot of options if you became unemployed. Um, in the United States, you may have varying amounts of unemployment insurance. You may or may not have some rainy day money stashed away 50% of country. That's not and you're in a crisis. Yeah, you don't have to drive anywhere, but you have rent to make you have up possibly a mortgage to pay. You have utilities that you still have to pay, even though some have promised not to shut them off. You're still gonna be on the hook for that bill. At some point, um, you have to feed your kids. You have to take care of things just cause you're not driving back and forth to work every day. That's only a small savings in a typical budget, and we've said many times that if the government isn't willing to step in and cover these costs that people are going to be bearing you're going to end up with a significant uptick in crime, a significant uptick in anger and dissatisfaction. And you're gonna have, you know, a couple weeks ago by gonna have people with cabin fever fever who have already been locked up. All winner like this is at the tail end of winner When people are, like, ready to go outside and, you know, sort of get out of the house for once, and they're being trapped even longer. And what is the best thing the government can to James, you know, $2000? What do you need $1000 for? We can't possibly give every American $500. It's just this is and we're gonna talk about you, be I now. But just to make it very clear, like the thing that is being debated, what they're discussing is nowhere near the amount of money that is going to be required. And they're gonna figure this out too late, probably. But it's nowhere near the amount of money that is going to be required to keep the economy going at a very basic level. And it's nowhere near the amount of money needed to keep people whole and in good in good shape as we teeter over the edge economically here, right? I mean, this is this is a joke, just a total backing joke. Yeah. No, it's it's a joke. It's much worse than I even expected. And I didn't expect very much thes you be I discussions. And still we're getting or were being, ah promised even less than that. I would have expected the Senate GOP this week, of course, announced their plan or, ah, form of ubi I. Over the next nine weeks or so, it would be $1200 checks for every American filing singly 2400 if you file jointly, plus $500 for every child and as a Friday night. This has become and the situation is in flux. So things are changing. Different provisions may be altered before this hits. The president's desk still has to go through the house, of course. But as of Friday night, they actually, after some intense partisan wrangling with the Democrats, where people were holding out hope. Yeah, the Democrats Ah, representing the working class for the people they're gonna they're gonna make sure those republicans don't just ram people should sandwich, right? Well, no, I I actually thought that not that they would solve the problem, but I actually thought that the $1200 rebate check bill would not pass the Democratic House. But I underestimated how, how paid for now and threaten into submission. The squad has become there, not even a MIM anymore. Um, and they have no capacity. They they've all genuflect id at the altar of Nancy Pelosi. Yeah, and and any resistance they might put up to this in. Ah, when this does get to the house, going to be going to be neutered for sure. And so after this intense partisan wrangling, Wow, we're gonna get a great deal for Americans. Actually, the amount of money that people may be receiving was reduced after negotiations with the Democrats. Down to $1000. Um, yeah. And this is a far cry from what people should be getting Which a zoo we talked about. If you were to take this $2.2 trillion in quantitative easing, they've done over the last two weeks and distribute that to every American. It's about 60 64 $6700 per person, and I mean that would go that would allow people to pay their rent to pay their bills, keep the keep the power on etcetera. But no, instead, were being were being promises. $1000 check. And it's not even $1000 check, right? That's the other thing. And this is a point you guys brought up on jazz and Jesse a few nights ago is the way they're structuring this and the way they this will be paid out. It's not just a one time cash payment people will be getting. It's actually, if you read the text of the bill, it's actually going to be a what is it a tax credit in advance or for your 2020 taxes? So, based on your amount, the amount you paid in 2018 people will be getting a tax credit for the 2020 returns, but without a corresponding tax cut. Right? And that's the difference is if there is a tax cut that you are being given retroactively in the form of a rebate or being given ahead of time in the form for credit, that's different. But the way it stands now, jazz, this is going to be $1000. You're being given that. Come, come April 2020 you will have to pay back on your income taxes. Yeah, they did this before. I was actually. Ah, you know, I I'm old enough to remember the George W. Bush checks that were sent out, and I and I got one. I cashed it. I was young and naive and younger and naive. And and ah, thought that you know, that it was actually a stimulus and ah, it wasn't It's just Ah, just a in advance, essentially alone, um, on your taxes that you would file in April of 2021 for the year. 2020. Um, right, right. And so it's just gonna get tacked onto the end. It's It's a ah, you know, Burr money printer for me. Ah, and loan with interest for the, um so it's Yeah, it's just amazing. And as we pointed out, they have pumped $2 trillion in liquidity into the economy in the last seven days, which is enough for every man, woman and child in the country to get a check for $6300. If you do the math and no can they do that for? You know, everyday Americans know they won't even give them. They won't even give them $1000 like, ah, $1000. No strings attached. Cash like yours. Like if they just mailed everybody Federal Reserve notes then like even that would be an insult. But they're not even doing that. They're going to send you a check from the U. S. Treasury. And the fine print is like, You gotta pay that back, though. Like you're not doing that. Anybody else? Yeah. And that's I mean And this all of this, of course, subject to be negotiated as it goes through the house. But, I mean, if this is the best we're getting from the Senate, I I certainly am not going to. And if the Democrats of other funny thing is, as the Democrats and Republicans, to the extent thes party, distinctions, even matter. But the Democrat negotiators actually ended up with the worst deal for America. Thought this was actually worse than what the Republicans were putting forward, which is pretty ah, pretty hard to do. But sure enough, they found a way to do it. And the other aspect here is these checks won't even hit for another three weeks. So if you're one of these, this actually lends credence to the idea that they're trying to lose the election on purpose. I mean, you know, the Democrats are Yeah, that's been that's been idea that's been floated about the people who have been running and what a joke it's been. But when you see them now in this time where you would think that they would push back on the GOP a little because right, like, remember Mitt Mitt Romney coming out and supporting this and is, Borzello said on midweek, FTN like it makes me exceedingly nervous whenever I start to see members of the quote unquote conservative wing of the GOP or anybody from the GOP coming, I mean, this shocked everybody. There were plenty of write ups about this in the media about, you know, the GOP, you know, coming to this and and it's kind of like they were just doing a strategy to sort of outrun the Democrats on this, But you would explode. Expect the Democrats toe actually say no $4000 per person, and you would expect for people who are planned trusting on the Dem Z, and I don't expect any of anybody in our audience is doing this. But you would expect them to at least call out the fact that these are not, in fact, cash payments. The media is on board with this because they don't want people to. They don't want people to realize that this is a loan on their next year's taxes and not accept the money cause they're in on it, too. Like the media has no interest in you getting cash either. Like so. They're very happy to go along with this narrative that this is this is just a direct. That's why they're calling it a direct payment. They're not calling it a cash payment. They're calling it a direct payment because all it is is coming directly out of your taxes from next year. Think this is not like and everybody's on board of that, but you'd think like the people justice stems. Remember these people that all like, you know, they basically did the progressive version of American nationalism, and they actually formed a group of people that got, you know, members into Congress and look what happened. Look what happened? Do you think they're advocating for people actually to get cash? No. They're silent there. Quiet. And in some ways they were threatened into submission. And we know the whole story with justice stems and everything that happened with AOC. But they're totally toothless in dealing with this. And of course, they're just gonna lay down because they don't want to actually give people money. They don't want to actually be on the hook for this. And this is the common refrain coming from the Bernie Bro's and they're upset that they're never getting anything that they want. It's like, Look, this is your right. Actually, you're being vindicated in this claim that the Democratic Party isn't actually gonna follow through on any of these these quote unquote socialist social safety net items because they don't even want to give people a taste of what you be. I would be like for one month because they know what the the outcome would be. They don't want to give this to people cause they won't be able to take it away because of the positive effects and because they're going to get people are gonna be very upset once they start getting checks and then they turn it off like, yeah, that's one of the It's one of the main reasons why they're doing the tax rebate shit to is because they know this would be immensely popular with people. And they see they know that people, if they did start getting, let's say, $1000 a month, every person cash Everybody in America got $1000 a month and you you saw the total for that and it would be a trillion or so and then you would look at it and people would look at and say, Well, that's a trillion dollars, Sure, but how much are you giving to the banks? How much are you? Are you planning and bailouts for these massive companies? How much are you doing for this? And for that and for and rewarding the financial sector? Ah, with gains that are erased in a matter of 15 minutes, when you pump 1.5 trillion and liquidity into the market and the gains evaporate instantly, and all of that is just okay. That doesn't come under any sort of intense partisan wrangling, but this does $1000 to help me feed the kids. Help me pay the bills, Help me stay in my home, not get foreclosed on. This is what is objectionable to you. And it's funny that I think you're exactly right. When you say the Republicans were coming out and getting out ahead of this, they were sort of in before ing this and Republicans, Romney comes out, Josh Hawley comes out. Tom Cotton does as well, all saying yes, Give everyone $1000 a month. Some were like clutching their libertarian prior pearls on a Dan Crenshaw. I understand we need to inject money, but people don't need $1000. But yet in people need a lot more than $1000 and ah, three other thing that Dan Crenshaw was doing. And I think what he said was, many people still have study. Incoming quote in all caps do not need $1000 check, but but the other criticism of this and it's a very valid one is that they're also means testing this on top of it, only being a rebate check based on future tax payments. And so all means testing is is nothing more than a euphemism for fuck all white people that we haven't quite yet destroyed. Right, Because there's gonna be white people that don't qualify for this because of where they are on the strata. And they're basically saying like, Yeah, we would cut you a check that would be alone an interest re loan on your next year's taxes. But like, yeah, we're not even to do that because fuck you because you're white and they won't even hit people that the other thing that they're doing is that they're not. This is only if you pay taxes in 2018 and so if you made less than $2500 or whatever it is, you get nothing either. So both sides are getting squeezed on this, and the easiest thing that they could do would just be to give a check to everybody. I don't and like this is just again stepping back to where we were when we opened this segment. They need to be giving people $4000 a month. Five because $1000 is not enough to feed a family of four or five for more than a few weeks, it's not enough. It's not enough to pay the bills is not enough to pay your mortgage, your rent, your car loan, any of these things. And let's say that the bank, as Cuomo actually did in New York they're trying to suspend. I think he already did suspend mortgage and evictions for people who are affected by this. Let's say that they suspend a couple of those things and all you have to do is buy food and keep the lights on. $1000 isn't gonna cut it. I mean, you could you not every six weeks? No, no. And these checks aren't even going to go out until the second. The first end of may be the second week of April. I think it's like April. I don't know, 10th or something is when they go when they would possibly hit. But they can get they can get the central bank. Ah, they can fill them up with overnight liquidity just with the snap of the fingers. In fact, we talked about this on the midweek ftn they stood up. They used emergency powers. The US treasure used emergency powers to stand up a commercial paper facility. Essentially money printer Gober, um four for the Fed to supply them with the $2 trillion in emergency funding. So that doesn't have to go through the normal process. But for you? Yeah, we got ta. We had to crank up these printers and, you know, we gotta debate this and take a whole bunch of time because the means the other thing about means testing other than it just meaning fuck white people, cause you just give a checked Everybody in the, you know, have to worry about any of this is the amount of time and management that's gonna be required. Figure out who qualifies and who doesn't and write a big bill and do other. Why don't you just write a simple one page building where all the guys like Rand Paul and all these other people who want to simplify government Ted Cruz, all these stalwarts of conservatism in government larger getting against government largesse? Where's the one page bill to supersede this garbage to say we're gonna give everybody $5000 no questions asked. And this is going to be renewed every month until Congress has an up or down vote yes or no to to dispel the bill to kill the bill, right? It's in effect until we vote to make it not in effect and make them vote in a public way to do that. But no, I'm not gonna do that. Don't do that. They're gonna do this instead. Well, and the reason they're doing this and it's not again. It's not for lack of money, right? They could absolutely do. They could Britain, the currency if they wanted to. They've already done it in the last two weeks, but the reason they're they're doing this is almost too Anesta ties. People write this $1000. Ah, in payments. At the same time as you're not going to be evicted, you're not going to be kicked out of your mortgage. Some banks are foreclosing on mortgages and you're not going to have to pay the power bill for now, right? That's all for now. Eventually, I mean these these balances, they're all accruing over time, and you're eventually going to have to pay these things back. And this $1000 maybe enough for you to if you are alone. I suppose it's possible to buy food for you if you're living alone. But not if you have a family. Not if you have other people to feed, but at the same time as you. Maybe just scrimping by surviving at a very basic level. Surviving. You're going to be coming out on the other side of this. Let's say things get better in July or August. You'll be coming out of the other side of this with 30,000 $30,000 in debt that's built up over this time in your unpaid card payments in your unpaid credit cards, unpaid home bills, etcetera that you're then going to have to find a way these things are going to come do very quickly, right? So then you have to find a way. Well, how do I come up with $10,000? Say, in a matter of three weeks? Well, I get alone. I got a payday loan I get. Ah, I take out another line of credit. I take out another line of credit on my house. And who is going to benefit from that explosion and demand more financing at very low interest rates? Like who wins from this? We know who wins. Now we know. Obviously, this is this is a great opportunity, actually, a very ripe opportunity for Trump and the GOP to offer people something riel in a time of crisis. I mean, Trump and the GOP, or have run an absolute deficit on on, and I mean deficit in goodwill with people, the working class, white Americans. They have screwed those people over again and again and again. And it's not just white people that are gonna be hurting from this either. So this, you know, from their perspective, this would offer them an opportunity to show how much they actually care about people and taking care of him. But they're not going to do that. And instead, what we got were George W. Bush to your rebate checks. And so this is what they didn't know. One in 08 And I mean, the fact that the GOP has come out for this at all has people's heads spinning, and I think it's it's the George W. Bush checks is the only thing that has allowed them to defend it. But I have audio of ah, Dana Perino getting questioned actually, because you know this is the five. This is such a NAWF will show. Dana Perino is not that bad looking, but these people shadow over Andrew Yang for socialism, and now they don't know how to respond when their cheerleading for Trump's $1200 checks. This is hilarious. Like the day this is just classic, like deer in headlights. Just have a listen for the health of people. Then, of course, we have to do everything to help for their economic health. On the other side. Where we make in front of this, though, when Andrew Yang suggested something like it with socialism, no, when he was saying Send $1000 there is no no when he was saying, Send $1000 there. There are people who think that universal base income is actually a pretty good idea. I don't think of it is necessary socialism, especially if you look at it that in Alaska how they give back money But honey, time to figure it out. But today, conspiring $1000 for people who really that they're gonna need more than that. I agree, Greg, all right to the monologue. It's like, um yeah, no, no. But like, they have to sort of be on board with it. But it's like e. I mean, the whole thing is just garbage, but And if this is the sad thing about this is that you're getting Mitt Romney coming out and report and supporting this and the worst of the swamp and and the Republican Party coming out and supporting this really, which is a a a ploy, which is a hood winking of the American people. But people are your average person. They're going to see this is $1000 like, Okay, that's that's good for a week. But where's the rest? How do I pay the rest of these bills? But the sad thing is that this this has brought the whole conservative establishment together, right from Mitt Romney to the wind Nats all the different facets of Conservatism Inc hearing for Trump putting back on the Maga hats. Yeah, there, $1000. They're very excited about this and they will even jump on board with this being is some form of you be I like I like I wouldn't even, you know, I know they're gonna be people out there and I not offering advice, But because of this being a Jewish trick, I mean, there are gonna be people out there who have no choice but to accept this because it's better than running up a credit card. But if you if assuming you even qualify for it, because again it's been mean tested to to not include you, um, assuming you even qualify for it. If you can afford not to take it, just don't take it because you're propping up their shit show of an economy with it on your own back, like that's what they're doing. Your product. They're propping up the economy on your back next year, and if you can afford not to do it, don't do it. But if you if you have no other choice, I mean, that's just how that goes. But whatever you do, do not fall into the trap of believing that the GOP has become the party of you, be I and that this is the advent of of, ah, the the Republican Party, ushering in national socialism. It's like that's not what's happening here. This is just Georgia. This is actually the most amazing thing about this, I think, is the fact that they're doing the George W. Bush like replays. The greatest hits from that era in a crisis that is far more serious and far more dangerous. And they just go back to the same playbook again and again and again. And ah, yeah, they had an opportunity here and they squandered it. And if you're getting caught up in planned trusting on this shame on you, you're a fucking dupe. So without further ado, we're gonna go, Ah, take a little bit of a break. We have a lot of stuff to talk about in the second half. And then there's a bonus our for you pay Chad's free fags. I don't know what you're gonna do, but you're not sticking around for the whole thing. I'll tell you that. We'll be right back on ftn. See you guys in a minute. You're listening to the show that changed your weekend forever. Fash the Nation Helou I'm germs. India Ulan Sharp almost fully recovered from my Corona virus about last week here to talk to you into getting excited to consume product. Almost all of what we're hearing about election meddling and foreign hackers is totally fake or being presented to you with an ulterior motive. What's very riel, though, is a threat that hackers malicious websites, so called free VPN services and even your Internet service provider posed to your online privacy. If you're browsing the Internet without a VPN, forget about it for browsing history. 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Dollar. Its official currency, Harriet Tubman Can Freak off by Anne Cola is the new $20 fan. Click the link down below Virtual Shield. Check it out today. If you have ever purchased a car from a dealership, you know how this scam goes. You and the salesman agree on a price that you get inside to do the paperwork, and all of a sudden he's asking you to fork over 20% more than what you agreed on taxes, documentation, fees, transport fees and dozens of line items later, and you leave the lot with a few $1000 less than you expected to spend. That same markup scam is being worked on you at the grocery store to accept. It doesn't happen at the register. Tens of thousands of food and home goods manufacturers pay to have their products certified the religious intermediaries. If buying, eating and keeping kosher is important to you, then that's great. But if it's not, why pay extra for what you don't need? And why subsidise these religious intermediaries with revenue that ultimately flows to programs and institutions that probably oppose your values. Over one million products are caught up in the kosher racket, and the cost of certification is passed on to you. Unless, of course, you're consuming product that is NK see that is not kosher certified. How do you tell what isn't kosher certified? Easy answer. Go to the kosher question dot com The kosher question dot com To find easy to use convenient tools to help inform your normal shopping routine, plus information and education on the kosher industry, you be the judge of whether your next sandwich is kosher or not. Coaster question dot com And now back to fashion a nation heard on Lee on the TRS radio network Hello, Welcome back Our chew, Our two of three here in FTN And of course, Well, what do I mean by that? Well, third hour, in case you don't know your headphones fell out the beginning of the first hour. Our threes by the pay Well, so we gotta go check that out and you're concerned about like, oh, where do I find that to go on the website to download the file or yeah, go on the website to download the file, or maybe the RSS feed. I don't know. We'll figure that out, but it will be available to you there. Hour two, we're moving into some economic news. Mawr economic news. Uh, starting with this guy who you found jazz. Uh, very fitting name. David Stockman. David, stop bail out the banks, but leave Americans out to dry. He had David Stockman. Yeah, because bailouts or something that's being talked about. We're not gonna be focusing on those necessarily today because that's gonna be coming as the layoffs start and they really dip into their credit lines. So you talked a little bit about this. I mean, you know, you have the stock buybacks, and when we bailed them out before they buy back their stock with the money that they bailed out and of course, you already have. This is so deeply unpopular. You have people sort of setting. That is the rule that they need to follow if they are going to get a bailout. But I would argue that they shouldn't get bailouts at all. I mean, I think most people would argue about that. Argue that especially when nobody at the bottom or no ordinary American is getting a bailout, right? That was That was a common refrain in 2008. Like, where's the bailout for us? And you have to ask that question again, as we just pointed out the end of the first half of the show the 1st 1st hour anyway. But Reagan, Jew by marriage. Now, David Stockman David Stockman is his name, but we're obviously meaning his name as well. Uh, he himself is not just but he merited job. And, um, he thinks that bailouts for banks and everything else is necessary, But ordinary Americans are just gonna have to get creative. Ah, you know, to make ends meet. This is the former Office of Management and Budget Director David Stockman under Ronald Reagan. Um, he, ah warned that the pandemic is exposing risky speculation in shaky form of stock market fundamentals. You know, shit guy, he's like Wall Street is toast. It's going to end is a financial crisis, which is what we've been predicting because the illusion that the central banks may always have your back in the economy would keep expanding and growing forever and ever was complete. Nonsense. Also, something we've been saying. Stockman, who served under Reagan has been forecasting an epic market decline for years. And so if we we've been saying this for a long time, is that the 2008 crisis in the manner in which it was, you know, quote unquote resolved was on Lee going to result in more pain down the road, and the pain is coming now is we're finding out. And that is why Donald Trump was always so adamant in demanding chairman Fed Chairman Powell lower interest rates and keep being Donald Trump's like Come on, fire the bazooka fired again. You got to make this thing last. Get me over the finish line in 2020 and that I don't give a shit what happens, and they weren't planning on a pandemic. But Stockman says there are going to be bailouts. But Stockman says, We actually need very high interest rates, not lower. So all this speculation can get cleaned out of the system. On the fiscal side, Stockman suggests that the country cannot afford the price tag to bail out the country. A fierce critic of President Trump, he contains the administration's plan to hand out $2000. Yeah, right, Stockman's You get the update and I'm gonna meet two grand is financially irresponsible and will only postpone an inevitable recession. Longer term, he suggests, it's totally unnecessary. According to Stockman, 80% of America can just get by during these vast business shutdowns by drawing down the $4 trillion off unused credit card line just max out you cod goi, $10 trillion of savings accounts and $1.3 trillion of checking accounts. It just like empty out your pockets. It's like this, right? Yeah, well, he's talking about people that don't have the $10 trillion in savings right? The people that are getting laid off or are losing their hours at their jobs. These are not the people in that cohort that have their savings about their cumulative savings balance of the people that make up that bottom 50%. That live paycheck to paycheck is not even 5% of that total $10 trillion in savings deposits. It's not most of these people have, on average, $10,000 if you're if you're between the ages of 30 and 45 $2000 in savings. If you're a millennial, so e. I mean this this idea, and obviously he's saying this duplicitous Lee. But, ah, like this money just isn't there for the people that need it. Yeah, this is This is like somebody standing at the entrance to the grocery store and saying, Yeah, Onley. Ah, people who make more than a $1,000,000 a year convey I food everybody else. You get the cat food aisle like That's basically what he's saying. And if you're lucky, like whatever's left over, you know, wet food drive food, you just don't leave that I'll cause nothing like you have to empty out all of your possible savings. It's like, how about have American Airlines sell off some of its fleet o sell it to who? Yeah, because the whole thing's fucked. Yeah, that's probably not gonna work. What about all these companies that have all these assets? Why don't you liquidate those slow mo, But oh, no, they're not gonna do that. They're just gonna print them brand new dollar bills from the Federal Reserve money printed Ober. And then he says Main Street will bounce back once the public health separation orders are relaxed. Main Street capitalism just doesn't have a death wish. households and businesses will get creative in finding ways to cope and repair and replenish and restart businesses on the other crime. Using using $1000 tax advance to, ah, head down to the pawnshop and, uh, you know, stock up on whatever. Yeah, it's like the people will find place to put ways to replenish and restart. But in those ways to replenish and restart, as he's alluding to are predicated on credit and taking out more credit. And that's that's if you're lucky enough to survive this. I mean, and I'm not even saying as a result of the disease, they're going to be a lot. Just imagine the pain and you're going to see as we sort of as this section unfold section of the show unfolds. Um, you know, combined this with what the work we did last week in talking about you know, the outcome of of what the stock market crashing actually looks like for every day. Americans. David Stockman, though, knows a thing or two about pitting creative. Ah, he was born or lives on the Upper East Side with his wife, Jennifer Blais Stockman. Um, and she is the chairwoman. AmeriData of the Republican majority for choice and president of the Solomon R. Guggenheim Foundation board of trustees. Of course, Stockman signed. He's a Republican who signed an amicus brief to the Supreme Court in favor of gay marriage. But of course he did. But he's got very creative with his business dealings. He was the CEO of Collins and Aikman Corporation, Detroit based manufacturer of automotive interior components. He was ousted from that job two years later. That's because federal prosecutors in Manhattan indicted Stockman on a scheme to defraud the company, their investors, banks and creditors by manipulating reported revenues and earnings. The SEC brought civil charges against Stockman related the actions that he performed a CEO. He suffered a personal loss of $13 million. But this was not anything compared to the losses suffered by the 15,000 employees worldwide. Of course, you're thinking, well, he's agoi right? He's gonna go to prison for for this sort of scheme that he perpetrated, but no, because he's married to a Jew. On January 9th 2009 the U. S attorney's office decided that it did not intend to prosecute Stockman for this case. So that's why you see this asshole on TV now saying that you know the rest of America can get creative, keep on printing money for big business, right? This this guy's a real fucking jam. Ronald Reagan, right? Just are a rock ribbed conservative. Yeah, and Stockman before he was innovating new and creative ways to defraud investors and screw over employees. Before he was directing Reagan's Office of Budget Management, he was plucked from Congress, little Congress, critter and, ah, speaking of people in Congress, some news coming out this week about people of making some strategic investment decisions days after in fact hours, in some cases after being briefed on the Corona virus threat but before the market started tanking. Yeah, the tanks, the takes on this air particularly bad, too. And, ah, Tucker is just racking up bad. Take after bad. Take Tucker's out there against U B I. When Tucker could be out there calling out these checks for being fraudulent, Tucker has come out with the rest of the wine Nats, about promoting the sort of anti China narratives that Thea that the Deep State just absolutely loves that they're doing just totally being Shabbos on this and Tucker is also out there attacking Richard Burr. Um, and if you were, you know, just a ah consumer IQ in a casual consumer of Tucker content on a regular basis. Uh, you would see that, You know, maybe maybe you think that Richard Burr is the only guy that actually did anything wrong. You have to go digging to find out that it was actually four other senators and G Why are they picking on Richard Burr? It's like, um, maybe because he's the white guy from North Carolina. It's like, you know, Tucker, you're in great company with David Axelrod going out on Twitter and just attacking Richard Burr directly by name and not mentioning any of the other people. Richard Burr. Assuming that he even did anything wrong here, he only sold $1.7 million a stock between January and February. Let's say Richard Burr did something wrong. Let's just say that he did. Something went wrong. What about Dianne Feinstein? Right, like, is it is it setting a new, dangerous precedent if this Jew gets prosecuted for ah, insider training with that set a terrible precedent. I saw that Mike was calling her Zion Feinstein, which is very, very Ampara book. But she sold. And of course, this is I'm not making this up. She sold $6 million in stock during that same period. Kelly Lawful erhu We're gonna talk in detail about as well on the Senate Health Committee, sold up to $3 million in stock, and then James Inhofe sold 400,000 like whatever. But out of the three, let's just say Richard Byrd, Di Zion, Feinstein and Kelly La Flor Why would you pick Richard Burr? He sold the least amount of stock out of these people if you don't include James Inhofe. And he's he's a guy who ostensibly is, is on your team, right, Tucker, Why would you focus on him? Why would you demand his resignation? Because you can't resist trying to call out somebody from your own party. And again, I'm not. I'm not. I'm not defending Richard Burr. I'm just saying. He traded the least amount of stock and the other two are very One is a Jew. In Kelly, La Flor is married to a Jew, married to a Jew who is the CEO of the New York Stock Exchange. But anyway, sorry I before we get into that right, and that's what I was going to say is that it's being insinuated that Burr in the way that is being presented. I don't think people are saying this explicitly, but it's being insinuated through the graphics that are being chosen and the way it's being talked about. That Burr was some type of ringleader and that Burr was was an organizer in this selloff, which, of course, is not the case and birds connections. I'm sure he has plenty of troubling connections. This guy is is as Republican GOP e as they come. But Kelly lawful er even more so politically bad, even worse than Richard Burr. But her connection to the CEO of the New York Stock Exchange being married to the CEO of the New York Stock Exchange, that is significantly more troubling than what we're seeing from Richard Burr. Yeah, and Dianne Feinstein. She's got a whole long track record, including having people spying for the Chinese on her staff, and you have all that that connection and all that you can dig into that. If you're interested in that, I mean, we could maybe cover that at some point, we're not gonna dive into that today because there's farm or for more important things to discuss but lawful or dumped $3.1 million in investment. Starting on the day the Senate Health Committee, which she sits on, was briefed by the CDC. And so on March 19th 2020 the public release of federal financial disclosure documents revealed that, uh, uh, Senator Kelly La Flor and her husband, Gerry Craig Sprecher, dumped millions of dollars of stock the couple owned and companies vulnerable to the pandemic. The sales began the same day that Lawful and other senators received a private be briefing from federal officials about the looming crisis. They sold $3.1 million in stock between late January and early February, and this while all of these people were downplaying the crisis to like they are selling stunk that is going to be hurt by the pandemic, investing in stunk that is going to to improve um, as a result of the pandemic. That's exactly what lawful er did, and ah, the first sale that she did was with Rizzio Technologies, which was worth between 50,000 and $100,000 that stock has since halved in value. But, of course, Jared Geoffrey Craig Sprecher eyes the founder and chairman of the CEO of the Inner Intercontinental Exchange and the New York Stock Exchange. And of course, he is an Ashkenazi Jew. You can look this up. I mean, he is just his Wikipedia doesn't say Josh, but you can prove that he's gash on. And he was just so people have a little bit of history here. So the Intercontinental Exchange was a startup that was backed by Goldman Sachs and Morgan Stanley. In the year 2000 Sprecher was installed as the CEO and gave them virtually 80% control. Then Ice took over the New York Stock Exchange in 2012 in the aftermath of the 2008 crisis. And Sprecher, of course, is now the CEO of the N Y S E. So it's in that funny how Goldman Sachs and Morgan Stanley play the long game and make this move eventually to get this guy installed is the CEO of the N Y S E. And now the wife of the CEO of the NYC, who is a United States senator, is working on, you know, doing insider trading in Congress. Do you really think that she acted alone? That this is just totally a coincidence? James, That's just happened to be, Ah, yo, just it was It was a It was a shrewd decision based on widely publicly available economic data, right? James, right? And the worst part about this is what they were doing in terms of downplaying this to to assure Americans, try to assure Americans there's nothing to worry about. To keep spending and keep buying was importantly, keep buying stock like we had Eric Trump come out and tweet. This is a great time toe t to max out your 401 k contributions. Yeah, didn't didn't turn out so well. And not only did we had the politicians assuring Republicans and white people that there's nothing to worry about, but conservative media was out in force and almost every single figure in conservative media. As we talked about towing that party line and reiterating that there was nothing to worry about, nothing to see here. Very funny. I, you know, I would be interested to see I'd be very curious if these media personalities had to make the same types of disclosures that senators do. What types of financial decisions were being made by folks like Sean Hannity and Rush Limbaugh around early February? Be very interesting to see how it would be. Well, another little thing. I mean, you could spend an entire lot of rabbit holes here to go down, but one of them that, I'll point out Jeffrey Sprecher. Um, he just so people understand how just totally fug of the stock market is he purchased an Israeli company called Super Derivatives for $350 million in cash. He did. This is the CEO. So Goldman Sachs, Morgan Stanley fund the startup in the year 2000 and then in 2012 he becomes CEO of N Y S E. During that time, as the CEO of Intercontinental Exchange, otherwise known as Ice, he purchased this company called Super Derivatives for Cash, which is eyes and options and derivative trading platform used by banks and financial institutions. It's based out of Tel Aviv, founded in Israel. Also in the year 2000 has eight cities, offices and eight cities around the world, but does most of its back office in development Mork in Tel Aviv, where it has 250 employees. Of course, for those of you out, real Rhinelander, a derivative, is a ah more esoteric trading contract. It derives its values from the performance of an underlying asset, so things such as options contracts on commodities like oil and wheat are kind of what had driven it. ISS write. The contract price is based not on the market value but on expectations of the market. If the price of the commodity rises, the owner of the contract and exercise their option and by the commodity at the lower contract price called the strike price. Other Drew. It's just basically betting. Essentially, this is like legalized speculating and betting on the markets, and it's all electronic. And that's what super derivatives does. It works on a complicated contract such as futures, forwards and swaps, and they have, among its clients, some of the world's largest banks. I'm sure names that you all have heard before Deutsche Bank, very friendly with the trumps and the Kushner's end, Epstein and Wexner. And they make a lot of loans to people, um, who are kind of sketchy like, you know, Roman Abramovich. I mean, a lot of these people are tied up in this bank. Citigroup, Credit Suite's Barclays and Ice. Its new owner was also a super derivatives customer. So this was a cash transaction right back in 2014. And so here's Jeffrey Sprecher, husband of what is their name, Lawful? Er, I forget her first name, right? Kelly Kelly. Lawful. Here, he says, Super Derivatives is an innovative develop of valuable derivatives in data technology and will play a role in extending al financial market clearing and data capabilities. We already work with super derivatives in our existing businesses, and we look forward to extending that work with the global super derivatives team as we work to grow a risk management services across global exchanges and clearing houses. And, of course, the CEO of Super Derivatives. Name is David Gershon. And essentially, what this is is like Elektronik automation of this stock market for dealing with derivatives, and it's going to Onley expand from there. And isn't it funny, James that as of Monday morning, the NYC is gonna be Elektronik trades only, like they decided no more people on the floor of the NYC and as we pointed out in the first half. If they do move forward with a national shutdown of some sort, they're going to start limiting the hours of the NSC. And then they're just not gonna be trading at all because it has already What? The Dow has shaved 33% in, what, three weeks? Something like that. 10,000 points. Three weeks. You know how many? How many more? 1500 point days Can you have, Donald? How many? How many more of these days? How many for 3000 point days can you have before the whole ship goes to zero? So my theory is that they're going to shut this whole thing down before it gets to that point. And when you start win and if they start testing people and those numbers start to skyrocket and you start to see hundreds of thousands of cases in the country and we were wrong in the first half, of course we're gonna correct ourselves here. They're actually how many tests have been administered in the United States. James 170,000. So it's about yeah, when you include the ones that private labs, it's about 170,000. But that's the thing is as and but that is still a drop in the bucket. And that's still fewer tests that have been done in South Korea. Yeah, right In the country of millions and millions and millions more people, I we're still testing fewer in South Korea. We've barely beat now Italy in terms of numbers of tests conducted. Um, of course, we have, what, five times the population of Italy. So this is not a good place to be, and we're going to find more and more people. And this is This is right. This is like the looming. The haunting spectre, like looming over the stock exchange, is as you get more people coming in being tested. Yeah. I mean, 1500 days, you'll be reminiscent for them. You'll be wishing for another $1500 drop day, but only for so long. Because you could only bleed so much before. I don't know. What do they do? They just pull the trigger and close it down. You would think that we might want to do that, but they're they're they're getting They're making money as it collapses. That's the thing. Everybody trading on the super nervous. One is making money along the way. That's I'm sure that's there's a derivatives. There's some. There's some truth to that, but the it's it is a light switch brain. Take that everybody in a minute saying You're making this take. But some people are apt to make this take like when people hear Oh, it's a restructuring. The implication to light switch brains is that every single person out there that has a hooked nose is making money on these trades and no, like the stock but it. But if you're Kelly La Flor and you're here investing in these companies that are brought that doing very well, right in terms of crisis, like there's still money to be made here for people that have these connections, they're losing, obviously in terms of that total value, that's where their lives that's what I'm saying. Like the stock market has shaved trillions of dollars like money that people had money that people were counting on as their their net worth is has evaporated into thin air like it didn't the money didn't go from like one person's checking account to another person's checking Babin in some places what Kelly La Flor and these others have done is they have shielded themselves from losses that you would not be privy to certain information and you would be taking the piss on. And so that is, that's what's happening. But there is some restructuring going on, and that was that was an argument that could have been made at the beginning, where it's like, Yes, this is a planned financial crisis This is being done on purpose and and that there it's all working out for everybody involved. But the reality is in the case that we're making here is like, No, this was not planned. This is a real disaster. This is a real problem that they're trying to wrangle right now. They don't have a lot of good options and a lot of people are losing money. And a lot of people that that have been sitting on top of the strata of the market for a very long time are losing a lot of money in the market. And so I wanted to spell the notion that that all what's happening like big line, go down all Jew, get rich. That's not what's happening, like a lot of people are losing their shirt. And we're going to illustrate this in this in this part of the show as well that they're starting to freak out and lose their shit. Um, and you're you're seeing There was a very long interview. I was supposed to be just a quick check in on CNBC's halftime report that we're gonna talk about. That was supposed to be just a quick like a phone it in, headphone guy. Tell us what you think. And the guy had a meltdown on the air. And so we're gonna talk about that. Like this is these people are fit. Sing right now, Not all of them. Ah, lot of them are playing, playing the market as it goes down to try to salvage what they can out of this. But what they see what they are understanding now. And it's what we laid out at the beginning of the show. Is that there? Nobody can see the bottom right. It's like you're swimming in the ocean and you don't actually know how much, Uh, empty water is between you and the bottom, like you have no idea what's there. Would they watch the big line go down and it's it's sort of uncontrolled. It's unmitigated. 3000 minus 3000 and a lot of people are starting to panic. And so when you see these numbers start to come out and Goldman Sachs had a emergency Sunday conference call a week ago, I guess today if you're listening to teach, they're listening to us on on Sunday. So a week ago, they had a private conference called 1500 of their clients. Um, and I I got a hold of the pdf for This is, Well, um, and it basically is saying half of America is going to get sick. A lot of this news has leaked out. Half of America is going to get 650 million people. 70% of Germany will be infected peak virus in eight weeks, in thus declining thereafter. Um, and they go on and they talk about a lot of the news that people have heard about the vaccines and what things would be like. But the biggest thing that came out of this and they have updated their forecasts as time has gone on, is GDP. They said this on Wednesday that GDP would fall 5% in the second quarter. So if GDP was supposed to be 2% Trump is always predicting four. But he never gets there. It was supposed to be to 5%. Drop means minus three GDP, right? So a drop toe 1% GDP is a recession. Minus 3% is getting into depression territory. That was Wednesday. JP Morgan on Wednesday, minus 14% GDP in Q two pantheon. Macroeconomics. I'm just starting about a bunch of different analysis here because just to give you a smattering of different numbers, they said on Thursday, minus 10% GDP. Goldman Sachs on Friday minus 22% GDP that's 24% total decline. But again, you assume that the economy was gonna be growing 2% GDP in Q two. Now it's gonna be minus 22% GDP. We've never seen anything like this. Bridgewater Associates. If you think 22 is like oh, well, bro, that's the outlier No, Bridgewater Associates says minus 30% GDP contraction. And when you look at the fact that the Big Three automaker is not producing cars, hotel bookings or zero flights are considered or considering being grounded. But they These airlines air begging for a bailout, and it's because they have no money. They have flexed on their credit lines to the point where they have nothing left. They're going to start talking about layoffs. American Airlines already said, Um, and they're saying that U. S jobless claims may reach between 2.25 million and three million next week, next week, not next month. Not for the total spring next week, Right? You have jobless claims surging from 70,000 to 281,000 just this week, and they're saying seven million people are going to be laid off in the next week or two as a result of these shutdowns. Enclosures. So James, three million people filing first time unemployment claims. That's four times the record set in the 1982 recession. And I don't know that we have data from the great well, Depression, but this could be a I mean, I know it sounds like hyperbole because people were throwing the word depression around during the 2008 crisis and, you know, for optics I think they were just calling it the great recession. I think it may have been more of a depression. But dude minus 24% GDP guy that is a depression that is not a recession. That is not a temporary dip that Bill Mitchell is going to buy in, right, And some people will say, Well, that's your focusing into You know, your perspective is to close, right? It's That's only for the quarter. But if you look at their annual forecast for the year, they're still predicting an 8% loss on the year and which indicates that it's going to take a long time, a very long time to recover from this negative 24% quarter to and yeah, I mean, this is something that that I I don't think we've experienced something like this in certainly not in our lifetimes. And I don't know what the unemployment situation was back in the Great Depression back in like the thirties, but I don't know if they even had the you know, the ability to you to keep numbers on things like that. But the other, the other thing you're going to see as these people get out of work and this is another angle in terms of financial and personal financial stress is these people are going to be losing benefits, losing healthcare, losing Ah, their entire standard of life is going to change very, very quickly, which is going to lead to even mawr societal and social upheaval than we saw certainly in 2008 Right, because businesses nowhere near thes swamping that America has received. So I think, you know, overall sort of 50,000 foot view. Yeah, like the United States, the correlation between crime, property, crime and criminal crime is gonna be criminal crime criminal charges. I's gonna be something that is going to be pretty bad, and so they're trying to solve for that, right? Like this is, this has been a common theme on our show and talking about as this gets worse and as we move past the dates that a lot of people in this country, a growing number of people in this country have gotten their last paycheck for the foreseeable future. How is the government solving for these problems? Because in Norway you'd have a lot of options if you became unemployed. Um, in the United States, you may have varying amounts of unemployment insurance. You may or may not have some rainy day money stashed away 50% of country. That's not and you're in a crisis. Yeah, you don't have to drive anywhere, but you have rent to make you have up possibly a mortgage to pay. You have utilities that you still have to pay, even though some have promised not to shut them off. You're still gonna be on the hook for that bill. At some point, um, you have to feed your kids. You have to take care of things just cause you're not driving back and forth to work every day. That's only a small savings in a typical budget, and we've said many times that if the government isn't willing to step in and cover these costs that people are going to be bearing you're going to end up with a significant uptick in crime, a significant uptick in anger and dissatisfaction. And you're gonna have, you know, a couple weeks ago by gonna have people with cabin fever fever who have already been locked up. All winner like this is at the tail end of winner When people are, like, ready to go outside and, you know, sort of get out of the house for once, and they're being trapped even longer. And what is the best thing the government can to James, you know, $2000? What do you need $1000 for? We can't possibly give every American $500. It's just this is and we're gonna talk about you, be I now. But just to make it very clear, like the thing that is being debated, what they're discussing is nowhere near the amount of money that is going to be required. And they're gonna figure this out too late, probably. But it's nowhere near the amount of money that is going to be required to keep the economy going at a very basic level. And it's nowhere near the amount of money needed to keep people whole and in good in good shape as we teeter over the edge economically here, right? I mean, this is this is a joke, just a total backing joke. Yeah. No, it's it's a joke. It's much worse than I even expected. And I didn't expect very much thes you be I discussions. And still we're getting or were being, ah promised even less than that. I would have expected the Senate GOP this week, of course, announced their plan or, ah, form of ubi I. Over the next nine weeks or so, it would be $1200 checks for every American filing singly 2400 if you file jointly, plus $500 for every child and as a Friday night. This has become and the situation is in flux. So things are changing. Different provisions may be altered before this hits. The president's desk still has to go through the house, of course. But as of Friday night, they actually, after some intense partisan wrangling with the Democrats, where people were holding out hope. Yeah, the Democrats Ah, representing the working class for the people they're gonna they're gonna make sure those republicans don't just ram people should sandwich, right? Well, no, I I actually thought that not that they would solve the problem, but I actually thought that the $1200 rebate check bill would not pass the Democratic House. But I underestimated how, how paid for now and threaten into submission. The squad has become there, not even a MIM anymore. Um, and they have no capacity. They they've all genuflect id at the altar of Nancy Pelosi. Yeah, and and any resistance they might put up to this in. Ah, when this does get to the house, going to be going to be neutered for sure. And so after this intense partisan wrangling, Wow, we're gonna get a great deal for Americans. Actually, the amount of money that people may be receiving was reduced after negotiations with the Democrats. Down to $1000. Um, yeah. And this is a far cry from what people should be getting Which a zoo we talked about. If you were to take this $2.2 trillion in quantitative easing, they've done over the last two weeks and distribute that to every American. It's about 60 64 $6700 per person, and I mean that would go that would allow people to pay their rent to pay their bills, keep the keep the power on etcetera. But no, instead, were being were being promises. $1000 check. And it's not even $1000 check, right? That's the other thing. And this is a point you guys brought up on jazz and Jesse a few nights ago is the way they're structuring this and the way they this will be paid out. It's not just a one time cash payment people will be getting. It's actually, if you read the text of the bill, it's actually going to be a what is it a tax credit in advance or for your 2020 taxes? So, based on your amount, the amount you paid in 2018 people will be getting a tax credit for the 2020 returns, but without a corresponding tax cut. Right? And that's the difference is if there is a tax cut that you are being given retroactively in the form of a rebate or being given ahead of time in the form for credit, that's different. But the way it stands now, jazz, this is going to be $1000. You're being given that. Come, come April 2020 you will have to pay back on your income taxes. Yeah, they did this before. I was actually. Ah, you know, I I'm old enough to remember the George W. Bush checks that were sent out, and I and I got one. I cashed it. I was young and naive and younger and naive. And and ah, thought that you know, that it was actually a stimulus and ah, it wasn't It's just Ah, just a in advance, essentially alone, um, on your taxes that you would file in April of 2021 for the year. 2020. Um, right, right. And so it's just gonna get tacked onto the end. It's It's a ah, you know, Burr money printer for me. Ah, and loan with interest for the, um so it's Yeah, it's just amazing. And as we pointed out, they have pumped $2 trillion in liquidity into the economy in the last seven days, which is enough for every man, woman and child in the country to get a check for $6300. If you do the math and no can they do that for? You know, everyday Americans know they won't even give them. They won't even give them $1000 like, ah, $1000. No strings attached. Cash like yours. Like if they just mailed everybody Federal Reserve notes then like even that would be an insult. But they're not even doing that. They're going to send you a check from the U. S. Treasury. And the fine print is like, You gotta pay that back, though. Like you're not doing that. Anybody else? Yeah. And that's I mean And this all of this, of course, subject to be negotiated as it goes through the house. But, I mean, if this is the best we're getting from the Senate, I I certainly am not going to. And if the Democrats of other funny thing is, as the Democrats and Republicans, to the extent thes party, distinctions, even matter. But the Democrat negotiators actually ended up with the worst deal for America. Thought this was actually worse than what the Republicans were putting forward, which is pretty ah, pretty hard to do. But sure enough, they found a way to do it. And the other aspect here is these checks won't even hit for another three weeks. So if you're one of these, this actually lends credence to the idea that they're trying to lose the election on purpose. I mean, you know, the Democrats are Yeah, that's been that's been idea that's been floated about the people who have been running and what a joke it's been. But when you see them now in this time where you would think that they would push back on the GOP a little because right, like, remember Mitt Mitt Romney coming out and supporting this and is, Borzello said on midweek, FTN like it makes me exceedingly nervous whenever I start to see members of the quote unquote conservative wing of the GOP or anybody from the GOP coming, I mean, this shocked everybody. There were plenty of write ups about this in the media about, you know, the GOP, you know, coming to this and and it's kind of like they were just doing a strategy to sort of outrun the Democrats on this, But you would explode. Expect the Democrats toe actually say no $4000 per person, and you would expect for people who are planned trusting on the Dem Z, and I don't expect any of anybody in our audience is doing this. But you would expect them to at least call out the fact that these are not, in fact, cash payments. The media is on board with this because they don't want people to. They don't want people to realize that this is a loan on their next year's taxes and not accept the money cause they're in on it, too. Like the media has no interest in you getting cash either. Like so. They're very happy to go along with this narrative that this is this is just a direct. That's why they're calling it a direct payment. They're not calling it a cash payment. They're calling it a direct payment because all it is is coming directly out of your taxes from next year. Think this is not like and everybody's on board of that, but you'd think like the people justice stems. Remember these people that all like, you know, they basically did the progressive version of American nationalism, and they actually formed a group of people that got, you know, members into Congress and look what happened. Look what happened? Do you think they're advocating for people actually to get cash? No. They're silent there. Quiet. And in some ways they were threatened into submission. And we know the whole story with justice stems and everything that happened with AOC. But they're totally toothless in dealing with this. And of course, they're just gonna lay down because they don't want to actually give people money. They don't want to actually be on the hook for this. And this is the common refrain coming from the Bernie Bro's and they're upset that they're never getting anything that they want. It's like, Look, this is your right. Actually, you're being vindicated in this claim that the Democratic Party isn't actually gonna follow through on any of these these quote unquote socialist social safety net items because they don't even want to give people a taste of what you be. I would be like for one month because they know what the the outcome would be. They don't want to give this to people cause they won't be able to take it away because of the positive effects and because they're going to get people are gonna be very upset once they start getting checks and then they turn it off like, yeah, that's one of the It's one of the main reasons why they're doing the tax rebate shit to is because they know this would be immensely popular with people. And they see they know that people, if they did start getting, let's say, $1000 a month, every person cash Everybody in America got $1000 a month and you you saw the total for that and it would be a trillion or so and then you would look at it and people would look at and say, Well, that's a trillion dollars, Sure, but how much are you giving to the banks? How much are you? Are you planning and bailouts for these massive companies? How much are you doing for this? And for that and for and rewarding the financial sector? Ah, with gains that are erased in a matter of 15 minutes, when you pump 1.5 trillion and liquidity into the market and the gains evaporate instantly, and all of that is just okay. That doesn't come under any sort of intense partisan wrangling, but this does $1000 to help me feed the kids. Help me pay the bills, Help me stay in my home, not get foreclosed on. This is what is objectionable to you. And it's funny that I think you're exactly right. When you say the Republicans were coming out and getting out ahead of this, they were sort of in before ing this and Republicans, Romney comes out, Josh Hawley comes out. Tom Cotton does as well, all saying yes, Give everyone $1000 a month. Some were like clutching their libertarian prior pearls on a Dan Crenshaw. I understand we need to inject money, but people don't need $1000. But yet in people need a lot more than $1000 and ah, three other thing that Dan Crenshaw was doing. And I think what he said was, many people still have study. Incoming quote in all caps do not need $1000 check, but but the other criticism of this and it's a very valid one is that they're also means testing this on top of it, only being a rebate check based on future tax payments. And so all means testing is is nothing more than a euphemism for fuck all white people that we haven't quite yet destroyed. Right, Because there's gonna be white people that don't qualify for this because of where they are on the strata. And they're basically saying like, Yeah, we would cut you a check that would be alone an interest re loan on your next year's taxes. But like, yeah, we're not even to do that because fuck you because you're white and they won't even hit people that the other thing that they're doing is that they're not. This is only if you pay taxes in 2018 and so if you made less than $2500 or whatever it is, you get nothing either. So both sides are getting squeezed on this, and the easiest thing that they could do would just be to give a check to everybody. I don't and like this is just again stepping back to where we were when we opened this segment. They need to be giving people $4000 a month. Five because $1000 is not enough to feed a family of four or five for more than a few weeks, it's not enough. It's not enough to pay the bills is not enough to pay your mortgage, your rent, your car loan, any of these things. And let's say that the bank, as Cuomo actually did in New York they're trying to suspend. I think he already did suspend mortgage and evictions for people who are affected by this. Let's say that they suspend a couple of those things and all you have to do is buy food and keep the lights on. $1000 isn't gonna cut it. I mean, you could you not every six weeks? No, no. And these checks aren't even going to go out until the second. The first end of may be the second week of April. I think it's like April. I don't know, 10th or something is when they go when they would possibly hit. But they can get they can get the central bank. Ah, they can fill them up with overnight liquidity just with the snap of the fingers. In fact, we talked about this on the midweek ftn they stood up. They used emergency powers. The US treasure used emergency powers to stand up a commercial paper facility. Essentially money printer Gober, um four for the Fed to supply them with the $2 trillion in emergency funding. So that doesn't have to go through the normal process. But for you? Yeah, we got ta. We had to crank up these printers and, you know, we gotta debate this and take a whole bunch of time because the means the other thing about means testing other than it just meaning fuck white people, cause you just give a checked Everybody in the, you know, have to worry about any of this is the amount of time and management that's gonna be required. Figure out who qualifies and who doesn't and write a big bill and do other. Why don't you just write a simple one page building where all the guys like Rand Paul and all these other people who want to simplify government Ted Cruz, all these stalwarts of conservatism in government larger getting against government largesse? Where's the one page bill to supersede this garbage to say we're gonna give everybody $5000 no questions asked. And this is going to be renewed every month until Congress has an up or down vote yes or no to to dispel the bill to kill the bill, right? It's in effect until we vote to make it not in effect and make them vote in a public way to do that. But no, I'm not gonna do that. Don't do that. They're gonna do this instead. Well, and the reason they're doing this and it's not again. It's not for lack of money, right? They could absolutely do. They could Britain, the currency if they wanted to. They've already done it in the last two weeks, but the reason they're they're doing this is almost too Anesta ties. People write this $1000. Ah, in payments. At the same time as you're not going to be evicted, you're not going to be kicked out of your mortgage. Some banks are foreclosing on mortgages and you're not going to have to pay the power bill for now, right? That's all for now. Eventually, I mean these these balances, they're all accruing over time, and you're eventually going to have to pay these things back. And this $1000 maybe enough for you to if you are alone. I suppose it's possible to buy food for you if you're living alone. But not if you have a family. Not if you have other people to feed, but at the same time as you. Maybe just scrimping by surviving at a very basic level. Surviving. You're going to be coming out on the other side of this. Let's say things get better in July or August. You'll be coming out of the other side of this with 30,000 $30,000 in debt that's built up over this time in your unpaid card payments in your unpaid credit cards, unpaid home bills, etcetera that you're then going to have to find a way these things are going to come do very quickly, right? So then you have to find a way. Well, how do I come up with $10,000? Say, in a matter of three weeks? Well, I get alone. I got a payday loan I get. Ah, I take out another line of credit. I take out another line of credit on my house. And who is going to benefit from that explosion and demand more financing at very low interest rates? Like who wins from this? We know who wins. Now we know. Obviously, this is this is a great opportunity, actually, a very ripe opportunity for Trump and the GOP to offer people something riel in a time of crisis. I mean, Trump and the GOP, or have run an absolute deficit on on, and I mean deficit in goodwill with people, the working class, white Americans. They have screwed those people over again and again and again. And it's not just white people that are gonna be hurting from this either. So this, you know, from their perspective, this would offer them an opportunity to show how much they actually care about people and taking care of him. But they're not going to do that. And instead, what we got were George W. Bush to your rebate checks. And so this is what they didn't know. One in 08 And I mean, the fact that the GOP has come out for this at all has people's heads spinning, and I think it's it's the George W. Bush checks is the only thing that has allowed them to defend it. But I have audio of ah, Dana Perino getting questioned actually, because you know this is the five. This is such a NAWF will show. Dana Perino is not that bad looking, but these people shadow over Andrew Yang for socialism, and now they don't know how to respond when their cheerleading for Trump's $1200 checks. This is hilarious. Like the day this is just classic, like deer in headlights. Just have a listen for the health of people. Then, of course, we have to do everything to help for their economic health. On the other side. Where we make in front of this, though, when Andrew Yang suggested something like it with socialism, no, when he was saying Send $1000 there is no no when he was saying, Send $1000 there. There are people who think that universal base income is actually a pretty good idea. I don't think of it is necessary socialism, especially if you look at it that in Alaska how they give back money But honey, time to figure it out. But today, conspiring $1000 for people who really that they're gonna need more than that. I agree, Greg, all right to the monologue. It's like, um yeah, no, no. But like, they have to sort of be on board with it. But it's like e. I mean, the whole thing is just garbage, but And if this is the sad thing about this is that you're getting Mitt Romney coming out and report and supporting this and the worst of the swamp and and the Republican Party coming out and supporting this really, which is a a a ploy, which is a hood winking of the American people. But people are your average person. They're going to see this is $1000 like, Okay, that's that's good for a week. But where's the rest? How do I pay the rest of these bills? But the sad thing is that this this has brought the whole conservative establishment together, right from Mitt Romney to the wind Nats all the different facets of Conservatism Inc hearing for Trump putting back on the Maga hats. Yeah, there, $1000. They're very excited about this and they will even jump on board with this being is some form of you be I like I like I wouldn't even, you know, I know they're gonna be people out there and I not offering advice, But because of this being a Jewish trick, I mean, there are gonna be people out there who have no choice but to accept this because it's better than running up a credit card. But if you if assuming you even qualify for it, because again it's been mean tested to to not include you, um, assuming you even qualify for it. If you can afford not to take it, just don't take it because you're propping up their shit show of an economy with it on your own back, like that's what they're doing. Your product. They're propping up the economy on your back next year, and if you can afford not to do it, don't do it. But if you if you have no other choice, I mean, that's just how that goes. But whatever you do, do not fall into the trap of believing that the GOP has become the party of you, be I and that this is the advent of of, ah, the the Republican Party, ushering in national socialism. It's like that's not what's happening here. This is just Georgia. This is actually the most amazing thing about this, I think, is the fact that they're doing the George W. Bush like replays. The greatest hits from that era in a crisis that is far more serious and far more dangerous. And they just go back to the same playbook again and again and again. And ah, yeah, they had an opportunity here and they squandered it. And if you're getting caught up in planned trusting on this shame on you, you're a fucking dupe. So without further ado, we're gonna go, Ah, take a little bit of a break. We have a lot of stuff to talk about in the second half. And then there's a bonus our for you pay Chad's free fags. I don't know what you're gonna do, but you're not sticking around for the whole thing. I'll tell you that. We'll be right back on ftn. See you guys in a minute. You're listening to the show that changed your weekend forever. Fash the Nation Helou I'm germs. India Ulan Sharp almost fully recovered from my Corona virus about last week here to talk to you into getting excited to consume product. Almost all of what we're hearing about election meddling and foreign hackers is totally fake or being presented to you with an ulterior motive. What's very riel, though, is a threat that hackers malicious websites, so called free VPN services and even your Internet service provider posed to your online privacy. If you're browsing the Internet without a VPN, forget about it for browsing history. Search is even your location are fair game for companies that collect that data and sell it. And if you're using a free VPN, well, that's probably the dumbest thing you could do because obviously they're making money off you somehow, right? Ain't no such thing as a free lunch. 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You and the salesman agree on a price that you get inside to do the paperwork, and all of a sudden he's asking you to fork over 20% more than what you agreed on taxes, documentation, fees, transport fees and dozens of line items later, and you leave the lot with a few $1000 less than you expected to spend. That same markup scam is being worked on you at the grocery store to accept. It doesn't happen at the register. Tens of thousands of food and home goods manufacturers pay to have their products certified the religious intermediaries. If buying, eating and keeping kosher is important to you, then that's great. But if it's not, why pay extra for what you don't need? And why subsidise these religious intermediaries with revenue that ultimately flows to programs and institutions that probably oppose your values. Over one million products are caught up in the kosher racket, and the cost of certification is passed on to you. 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We'll figure that out, but it will be available to you there. Hour two, we're moving into some economic news. Mawr economic news. Uh, starting with this guy who you found jazz. Uh, very fitting name. David Stockman. David, stop bail out the banks, but leave Americans out to dry. He had David Stockman. Yeah, because bailouts or something that's being talked about. We're not gonna be focusing on those necessarily today because that's gonna be coming as the layoffs start and they really dip into their credit lines. So you talked a little bit about this. I mean, you know, you have the stock buybacks, and when we bailed them out before they buy back their stock with the money that they bailed out and of course, you already have. This is so deeply unpopular. You have people sort of setting. That is the rule that they need to follow if they are going to get a bailout. But I would argue that they shouldn't get bailouts at all. I mean, I think most people would argue about that. Argue that especially when nobody at the bottom or no ordinary American is getting a bailout, right? That was That was a common refrain in 2008. Like, where's the bailout for us? And you have to ask that question again, as we just pointed out the end of the first half of the show the 1st 1st hour anyway. But Reagan, Jew by marriage. Now, David Stockman David Stockman is his name, but we're obviously meaning his name as well. Uh, he himself is not just but he merited job. And, um, he thinks that bailouts for banks and everything else is necessary, But ordinary Americans are just gonna have to get creative. Ah, you know, to make ends meet. This is the former Office of Management and Budget Director David Stockman under Ronald Reagan. Um, he, ah warned that the pandemic is exposing risky speculation in shaky form of stock market fundamentals. You know, shit guy, he's like Wall Street is toast. It's going to end is a financial crisis, which is what we've been predicting because the illusion that the central banks may always have your back in the economy would keep expanding and growing forever and ever was complete. Nonsense. Also, something we've been saying. Stockman, who served under Reagan has been forecasting an epic market decline for years. And so if we we've been saying this for a long time, is that the 2008 crisis in the manner in which it was, you know, quote unquote resolved was on Lee going to result in more pain down the road, and the pain is coming now is we're finding out. And that is why Donald Trump was always so adamant in demanding chairman Fed Chairman Powell lower interest rates and keep being Donald Trump's like Come on, fire the bazooka fired again. You got to make this thing last. Get me over the finish line in 2020 and that I don't give a shit what happens, and they weren't planning on a pandemic. But Stockman says there are going to be bailouts. But Stockman says, We actually need very high interest rates, not lower. So all this speculation can get cleaned out of the system. On the fiscal side, Stockman suggests that the country cannot afford the price tag to bail out the country. A fierce critic of President Trump, he contains the administration's plan to hand out $2000. Yeah, right, Stockman's You get the update and I'm gonna meet two grand is financially irresponsible and will only postpone an inevitable recession. Longer term, he suggests, it's totally unnecessary. According to Stockman, 80% of America can just get by during these vast business shutdowns by drawing down the $4 trillion off unused credit card line just max out you cod goi, $10 trillion of savings accounts and $1.3 trillion of checking accounts. It just like empty out your pockets. It's like this, right? Yeah, well, he's talking about people that don't have the $10 trillion in savings right? The people that are getting laid off or are losing their hours at their jobs. These are not the people in that cohort that have their savings about their cumulative savings balance of the people that make up that bottom 50%. That live paycheck to paycheck is not even 5% of that total $10 trillion in savings deposits. It's not most of these people have, on average, $10,000 if you're if you're between the ages of 30 and 45 $2000 in savings. If you're a millennial, so e. I mean this this idea, and obviously he's saying this duplicitous Lee. But, ah, like this money just isn't there for the people that need it. Yeah, this is This is like somebody standing at the entrance to the grocery store and saying, Yeah, Onley. Ah, people who make more than a $1,000,000 a year convey I food everybody else. You get the cat food aisle like That's basically what he's saying. And if you're lucky, like whatever's left over, you know, wet food drive food, you just don't leave that I'll cause nothing like you have to empty out all of your possible savings. It's like, how about have American Airlines sell off some of its fleet o sell it to who? Yeah, because the whole thing's fucked. Yeah, that's probably not gonna work. What about all these companies that have all these assets? Why don't you liquidate those slow mo, But oh, no, they're not gonna do that. They're just gonna print them brand new dollar bills from the Federal Reserve money printed Ober. And then he says Main Street will bounce back once the public health separation orders are relaxed. Main Street capitalism just doesn't have a death wish. households and businesses will get creative in finding ways to cope and repair and replenish and restart businesses on the other crime. Using using $1000 tax advance to, ah, head down to the pawnshop and, uh, you know, stock up on whatever. Yeah, it's like the people will find place to put ways to replenish and restart. But in those ways to replenish and restart, as he's alluding to are predicated on credit and taking out more credit. And that's that's if you're lucky enough to survive this. I mean, and I'm not even saying as a result of the disease, they're going to be a lot. Just imagine the pain and you're going to see as we sort of as this section unfold section of the show unfolds. Um, you know, combined this with what the work we did last week in talking about you know, the outcome of of what the stock market crashing actually looks like for every day. Americans. David Stockman, though, knows a thing or two about pitting creative. Ah, he was born or lives on the Upper East Side with his wife, Jennifer Blais Stockman. Um, and she is the chairwoman. AmeriData of the Republican majority for choice and president of the Solomon R. Guggenheim Foundation board of trustees. Of course, Stockman signed. He's a Republican who signed an amicus brief to the Supreme Court in favor of gay marriage. But of course he did. But he's got very creative with his business dealings. He was the CEO of Collins and Aikman Corporation, Detroit based manufacturer of automotive interior components. He was ousted from that job two years later. That's because federal prosecutors in Manhattan indicted Stockman on a scheme to defraud the company, their investors, banks and creditors by manipulating reported revenues and earnings. The SEC brought civil charges against Stockman related the actions that he performed a CEO. He suffered a personal loss of $13 million. But this was not anything compared to the losses suffered by the 15,000 employees worldwide. Of course, you're thinking, well, he's agoi right? He's gonna go to prison for for this sort of scheme that he perpetrated, but no, because he's married to a Jew. On January 9th 2009 the U. S attorney's office decided that it did not intend to prosecute Stockman for this case. So that's why you see this asshole on TV now saying that you know the rest of America can get creative, keep on printing money for big business, right? This this guy's a real fucking jam. Ronald Reagan, right? Just are a rock ribbed conservative. Yeah, and Stockman before he was innovating new and creative ways to defraud investors and screw over employees. Before he was directing Reagan's Office of Budget Management, he was plucked from Congress, little Congress, critter and, ah, speaking of people in Congress, some news coming out this week about people of making some strategic investment decisions days after in fact hours, in some cases after being briefed on the Corona virus threat but before the market started tanking. Yeah, the tanks, the takes on this air particularly bad, too. And, ah, Tucker is just racking up bad. Take after bad. Take Tucker's out there against U B I. When Tucker could be out there calling out these checks for being fraudulent, Tucker has come out with the rest of the wine Nats, about promoting the sort of anti China narratives that Thea that the Deep State just absolutely loves that they're doing just totally being Shabbos on this and Tucker is also out there attacking Richard Burr. Um, and if you were, you know, just a ah consumer IQ in a casual consumer of Tucker content on a regular basis. Uh, you would see that, You know, maybe maybe you think that Richard Burr is the only guy that actually did anything wrong. You have to go digging to find out that it was actually four other senators and G Why are they picking on Richard Burr? It's like, um, maybe because he's the white guy from North Carolina. It's like, you know, Tucker, you're in great company with David Axelrod going out on Twitter and just attacking Richard Burr directly by name and not mentioning any of the other people. Richard Burr. Assuming that he even did anything wrong here, he only sold $1.7 million a stock between January and February. Let's say Richard Burr did something wrong. Let's just say that he did. Something went wrong. What about Dianne Feinstein? Right, like, is it is it setting a new, dangerous precedent if this Jew gets prosecuted for ah, insider training with that set a terrible precedent. I saw that Mike was calling her Zion Feinstein, which is very, very Ampara book. But she sold. And of course, this is I'm not making this up. She sold $6 million in stock during that same period. Kelly Lawful erhu We're gonna talk in detail about as well on the Senate Health Committee, sold up to $3 million in stock, and then James Inhofe sold 400,000 like whatever. But out of the three, let's just say Richard Byrd, Di Zion, Feinstein and Kelly La Flor Why would you pick Richard Burr? He sold the least amount of stock out of these people if you don't include James Inhofe. And he's he's a guy who ostensibly is, is on your team, right, Tucker, Why would you focus on him? Why would you demand his resignation? Because you can't resist trying to call out somebody from your own party. And again, I'm not. I'm not. I'm not defending Richard Burr. I'm just saying. He traded the least amount of stock and the other two are very One is a Jew. In Kelly, La Flor is married to a Jew, married to a Jew who is the CEO of the New York Stock Exchange. But anyway, sorry I before we get into that right, and that's what I was going to say is that it's being insinuated that Burr in the way that is being presented. I don't think people are saying this explicitly, but it's being insinuated through the graphics that are being chosen and the way it's being talked about. That Burr was some type of ringleader and that Burr was was an organizer in this selloff, which, of course, is not the case and birds connections. I'm sure he has plenty of troubling connections. This guy is is as Republican GOP e as they come. But Kelly lawful er even more so politically bad, even worse than Richard Burr. But her connection to the CEO of the New York Stock Exchange being married to the CEO of the New York Stock Exchange, that is significantly more troubling than what we're seeing from Richard Burr. Yeah, and Dianne Feinstein. She's got a whole long track record, including having people spying for the Chinese on her staff, and you have all that that connection and all that you can dig into that. If you're interested in that, I mean, we could maybe cover that at some point, we're not gonna dive into that today because there's farm or for more important things to discuss but lawful or dumped $3.1 million in investment. Starting on the day the Senate Health Committee, which she sits on, was briefed by the CDC. And so on March 19th 2020 the public release of federal financial disclosure documents revealed that, uh, uh, Senator Kelly La Flor and her husband, Gerry Craig Sprecher, dumped millions of dollars of stock the couple owned and companies vulnerable to the pandemic. The sales began the same day that Lawful and other senators received a private be briefing from federal officials about the looming crisis. They sold $3.1 million in stock between late January and early February, and this while all of these people were downplaying the crisis to like they are selling stunk that is going to be hurt by the pandemic, investing in stunk that is going to to improve um, as a result of the pandemic. That's exactly what lawful er did, and ah, the first sale that she did was with Rizzio Technologies, which was worth between 50,000 and $100,000 that stock has since halved in value. But, of course, Jared Geoffrey Craig Sprecher eyes the founder and chairman of the CEO of the Inner Intercontinental Exchange and the New York Stock Exchange. And of course, he is an Ashkenazi Jew. You can look this up. I mean, he is just his Wikipedia doesn't say Josh, but you can prove that he's gash on. And he was just so people have a little bit of history here. So the Intercontinental Exchange was a startup that was backed by Goldman Sachs and Morgan Stanley. In the year 2000 Sprecher was installed as the CEO and gave them virtually 80% control. Then Ice took over the New York Stock Exchange in 2012 in the aftermath of the 2008 crisis. And Sprecher, of course, is now the CEO of the N Y S E. So it's in that funny how Goldman Sachs and Morgan Stanley play the long game and make this move eventually to get this guy installed is the CEO of the N Y S E. And now the wife of the CEO of the NYC, who is a United States senator, is working on, you know, doing insider trading in Congress. Do you really think that she acted alone? That this is just totally a coincidence? James, That's just happened to be, Ah, yo, just it was It was a It was a shrewd decision based on widely publicly available economic data, right? James, right? And the worst part about this is what they were doing in terms of downplaying this to to assure Americans, try to assure Americans there's nothing to worry about. To keep spending and keep buying was importantly, keep buying stock like we had Eric Trump come out and tweet. This is a great time toe t to max out your 401 k contributions. Yeah, didn't didn't turn out so well. And not only did we had the politicians assuring Republicans and white people that there's nothing to worry about, but conservative media was out in force and almost every single figure in conservative media. As we talked about towing that party line and reiterating that there was nothing to worry about, nothing to see here. Very funny. I, you know, I would be interested to see I'd be very curious if these media personalities had to make the same types of disclosures that senators do. What types of financial decisions were being made by folks like Sean Hannity and Rush Limbaugh around early February? Be very interesting to see how it would be. Well, another little thing. I mean, you could spend an entire lot of rabbit holes here to go down, but one of them that, I'll point out Jeffrey Sprecher. Um, he just so people understand how just totally fug of the stock market is he purchased an Israeli company called Super Derivatives for $350 million in cash. He did. This is the CEO. So Goldman Sachs, Morgan Stanley fund the startup in the year 2000 and then in 2012 he becomes CEO of N Y S E. During that time, as the CEO of Intercontinental Exchange, otherwise known as Ice, he purchased this company called Super Derivatives for Cash, which is eyes and options and derivative trading platform used by banks and financial institutions. It's based out of Tel Aviv, founded in Israel. Also in the year 2000 has eight cities, offices and eight cities around the world, but does most of its back office in development Mork in Tel Aviv, where it has 250 employees. Of course, for those of you out, real Rhinelander, a derivative, is a ah more esoteric trading contract. It derives its values from the performance of an underlying asset, so things such as options contracts on commodities like oil and wheat are kind of what had driven it. ISS write. The contract price is based not on the market value but on expectations of the market. If the price of the commodity rises, the owner of the contract and exercise their option and by the commodity at the lower contract price called the strike price. Other Drew. It's just basically betting. Essentially, this is like legalized speculating and betting on the markets, and it's all electronic. And that's what super derivatives does. It works on a complicated contract such as futures, forwards and swaps, and they have, among its clients, some of the world's largest banks. I'm sure names that you all have heard before Deutsche Bank, very friendly with the trumps and the Kushner's end, Epstein and Wexner. And they make a lot of loans to people, um, who are kind of sketchy like, you know, Roman Abramovich. I mean, a lot of these people are tied up in this bank. Citigroup, Credit Suite's Barclays and Ice. Its new owner was also a super derivatives customer. So this was a cash transaction right back in 2014. And so here's Jeffrey Sprecher, husband of what is their name, Lawful? Er, I forget her first name, right? Kelly Kelly. Lawful. Here, he says, Super Derivatives is an innovative develop of valuable derivatives in data technology and will play a role in extending al financial market clearing and data capabilities. We already work with super derivatives in our existing businesses, and we look forward to extending that work with the global super derivatives team as we work to grow a risk management services across global exchanges and clearing houses. And, of course, the CEO of Super Derivatives. Name is David Gershon. And essentially, what this is is like Elektronik automation of this stock market for dealing with derivatives, and it's going to Onley expand from there. And isn't it funny, James that as of Monday morning, the NYC is gonna be Elektronik trades only, like they decided no more people on the floor of the NYC and as we pointed out in the first half. If they do move forward with a national shutdown of some sort, they're going to start limiting the hours of the NSC. And then they're just not gonna be trading at all because it has already What? The Dow has shaved 33% in, what, three weeks? Something like that. 10,000 points. Three weeks. You know how many? How many more? 1500 point days Can you have, Donald? How many? How many more of these days? How many for 3000 point days can you have before the whole ship goes to zero? So my theory is that they're going to shut this whole thing down before it gets to that point. And when you start win and if they start testing people and those numbers start to skyrocket and you start to see hundreds of thousands of cases in the country and we were wrong in the first half, of course we're gonna correct ourselves here. They're actually how many tests have been administered in the United States. James 170,000. So it's about yeah, when you include the ones that private labs, it's about 170,000. But that's the thing is as and but that is still a drop in the bucket. And that's still fewer tests that have been done in South Korea. Yeah, right In the country of millions and millions and millions more people, I we're still testing fewer in South Korea. We've barely beat now Italy in terms of numbers of tests conducted. Um, of course, we have, what, five times the population of Italy. So this is not a good place to be, and we're going to find more and more people. And this is This is right. This is like the looming. The haunting spectre, like looming over the stock exchange, is as you get more people coming in being tested. Yeah. I mean, 1500 days, you'll be reminiscent for them. You'll be wishing for another $1500 drop day, but only for so long. Because you could only bleed so much before. I don't know. What do they do? They just pull the trigger and close it down. You would think that we might want to do that, but they're they're they're getting They're making money as it collapses. That's the thing. Everybody trading on the super nervous. One is making money along the way. That's I'm sure that's there's a derivatives. There's some. There's some truth to that, but the it's it is a light switch brain. Take that everybody in a minute saying You're making this take. But some people are apt to make this take like when people hear Oh, it's a restructuring. The implication to light switch brains is that every single person out there that has a hooked nose is making money on these trades and no, like the stock but it. But if you're Kelly La Flor and you're here investing in these companies that are brought that doing very well, right in terms of crisis, like there's still money to be made here for people that have these connections, they're losing, obviously in terms of that total value, that's where their lives that's what I'm saying. Like the stock market has shaved trillions of dollars like money that people had money that people were counting on as their their net worth is has evaporated into thin air like it didn't the money didn't go from like one person's checking account to another person's checking Babin in some places what Kelly La Flor and these others have done is they have shielded themselves from losses that you would not be privy to certain information and you would be taking the piss on. And so that is, that's what's happening. But there is some restructuring going on, and that was that was an argument that could have been made at the beginning, where it's like, Yes, this is a planned financial crisis This is being done on purpose and and that there it's all working out for everybody involved. But the reality is in the case that we're making here is like, No, this was not planned. This is a real disaster. This is a real problem that they're trying to wrangle right now. They don't have a lot of good options and a lot of people are losing money. And a lot of people that that have been sitting on top of the strata of the market for a very long time are losing a lot of money in the market. And so I wanted to spell the notion that that all what's happening like big line, go down all Jew, get rich. That's not what's happening, like a lot of people are losing their shirt. And we're going to illustrate this in this in this part of the show as well that they're starting to freak out and lose their shit. Um, and you're you're seeing There was a very long interview. I was supposed to be just a quick check in on CNBC's halftime report that we're gonna talk about. That was supposed to be just a quick like a phone it in, headphone guy. Tell us what you think. And the guy had a meltdown on the air. And so we're gonna talk about that. Like this is these people are fit. Sing right now, Not all of them. Ah, lot of them are playing, playing the market as it goes down to try to salvage what they can out of this. But what they see what they are understanding now. And it's what we laid out at the beginning of the show. Is that there? Nobody can see the bottom right. It's like you're swimming in the ocean and you don't actually know how much, Uh, empty water is between you and the bottom, like you have no idea what's there. Would they watch the big line go down and it's it's sort of uncontrolled. It's unmitigated. 3000 minus 3000 and a lot of people are starting to panic. And so when you see these numbers start to come out and Goldman Sachs had a emergency Sunday conference call a week ago, I guess today if you're listening to teach, they're listening to us on on Sunday. So a week ago, they had a private conference called 1500 of their clients. Um, and I I got a hold of the pdf for This is, Well, um, and it basically is saying half of America is going to get sick. A lot of this news has leaked out. Half of America is going to get 650 million people. 70% of Germany will be infected peak virus in eight weeks, in thus declining thereafter. Um, and they go on and they talk about a lot of the news that people have heard about the vaccines and what things would be like. But the biggest thing that came out of this and they have updated their forecasts as time has gone on, is GDP. They said this on Wednesday that GDP would fall 5% in the second quarter. So if GDP was supposed to be 2% Trump is always predicting four. But he never gets there. It was supposed to be to 5%. Drop means minus three GDP, right? So a drop toe 1% GDP is a recession. Minus 3% is getting into depression territory. That was Wednesday. JP Morgan on Wednesday, minus 14% GDP in Q two pantheon. Macroeconomics. I'm just starting about a bunch of different analysis here because just to give you a smattering of different numbers, they said on Thursday, minus 10% GDP. Goldman Sachs on Friday minus 22% GDP that's 24% total decline. But again, you assume that the economy was gonna be growing 2% GDP in Q two. Now it's gonna be minus 22% GDP. We've never seen anything like this. Bridgewater Associates. If you think 22 is like oh, well, bro, that's the outlier No, Bridgewater Associates says minus 30% GDP contraction. And when you look at the fact that the Big Three automaker is not producing cars, hotel bookings or zero flights are considered or considering being grounded. But they These airlines air begging for a bailout, and it's because they have no money. They have flexed on their credit lines to the point where they have nothing left. They're going to start talking about layoffs. American Airlines already said, Um, and they're saying that U. S jobless claims may reach between 2.25 million and three million next week, next week, not next month. Not for the total spring next week, Right? You have jobless claims surging from 70,000 to 281,000 just this week, and they're saying seven million people are going to be laid off in the next week or two as a result of these shutdowns. Enclosures. So James, three million people filing first time unemployment claims. That's four times the record set in the 1982 recession. And I don't know that we have data from the great well, Depression, but this could be a I mean, I know it sounds like hyperbole because people were throwing the word depression around during the 2008 crisis and, you know, for optics I think they were just calling it the great recession. I think it may have been more of a depression. But dude minus 24% GDP guy that is a depression that is not a recession. That is not a temporary dip that Bill Mitchell is going to buy in, right, And some people will say, Well, that's your focusing into You know, your perspective is to close, right? It's That's only for the quarter. But if you look at their annual forecast for the year, they're still predicting an 8% loss on the year and which indicates that it's going to take a long time, a very long time to recover from this negative 24% quarter to and yeah, I mean, this is something that that I I don't think we've experienced something like this in certainly not in our lifetimes. And I don't know what the unemployment situation was back in the Great Depression back in like the thirties, but I don't know if they even had the you know, the ability to you to keep numbers on things like that. But the other, the other thing you're going to see as these people get out of work and this is another angle in terms of financial and personal financial stress is these people are going to be losing benefits, losing healthcare, losing Ah, their entire standard of life is going to change very, very quickly, which is going to lead to even mawr societal and social upheaval than we saw certainly in 2008 Right, because businesses that are not affected right now will be because, as people you know, as as people who are not getting the check that they should be from the government are seeing their last paycheck and eating through that $1,200,500. Whatever it ends up being that the government sends out. Unless something drastically changes, you're going to see downstream impacts of of other businesses going that I mean people. If people can only afford to buy food. Essentially, it's just like big box stores like Amazon, Wal Mart, Costco essentially are the ones that survived everybody else. I mean, there's no business that can survive more than 30 days with no revenue and 1\/4 with no revenue. I mean, give me a break. I mean, and that's the thing is signore Body. All of these major corporations are also dropping their forecasts like that's a thing that you'll notice a phenomenon that you'll notice. Is there not putting out forecasts about what's coming next? Because they don't really know what's coming next. And you see this if you're paying attention to what I was saying about GDP is that Goldman Sachs said, minus 5% on Wednesday in 48 hours later, it was 24% minus 24%. So the same organization who has no interest in in telling you that things were going to get bad, they want you to keep your money in right, like they would have an interest in telling you that it's not gonna be so bad. I mean, you know, by this quarter, it's gonna be great. So, you know, just buy the dip, hold, hold the line and everything is gonna be fun. No, they're actually saying that things are going to get really bad. And it's one of the reasons that the markets tanked even harder this week, despite the administration's best efforts to keep them afloat. Another thing that the Trump Administration is doing is telling states and Trump deny this in his Thursday press conference. But there they're denying they don't want the states to release the unemployment claims that are going to be coming out next week. They have been asking state labor officials to delay the release of the precise number of them the unemployment claims they're fielding, and they sent an email on Wednesday. The Labor Department instructed state officials to quote Onley, provide information, using generalities to describe claims such as very large, moderately large, very small, A plus for Donald. And you know I'm serious, though they did. Actually, the quotas provide information using generalities to describe claims levels such as very high large increase until the department releases the total number of national claims next Thursday. And so this email was shared with The New York Times and noted that the reports were monitored closely by the financial. Yeah, everybody knows this, and so what they're doing is they want the the department of ah, the Labor Department BLS numbers to come out, and the administration is going to try to prepare some cope or prepare some economic news to announce that same day to offset this. They don't want states leaking these numbers out in an uncontrolled way, but they're going to get leaked out I mean, there's there's a guy on Twitter. Jeffrey Gundlach, who said New York's website for unemployed benefits is averaging 250,000 Loggins per day. So you're gonna get stats like that? There's nothing you can do to change this information from getting out to the markets. Donald, you're fucked, You're fucked. Your whole presidency is fucked and you have. He has a lot of opportunities. Teoh potentially save it, and he's choosing not to. I mean, nobody here is is hoping that he does, just pointing it out that to the people who still think he's doing everything, it's like No, he's not. He's actually doing everything he possibly can't. Yeah, and setting this up to release on Thursday. Nationally, it's very clear what they're trying to do, right? We're entering The Senate is negotiating the final provisions of this, this bill, which will be sent off to the House. They're hoping to get it through the House by early next week. And so, of course, what they're trying to do here is to time the release of these labor numbers with the passage of some kind of what they will present us. A stimulus bill right so they can say yes. We do have what, like five million new people unemployed. But look, look at the shiny object. Look at this shiny $1000 yeah, and this is just another example of of them going about this in bad faith and people not trusting them. Nor should they. Yeah, they shouldn't. And look, I mean, everybody understands MMT. Everybody understands what modern monetary theory it means. And, um, modern monetary theory is what got us out of the 2008 crisis. But it is not a panacea. It is. I think, in Mike was pointing this out. I think on a show this week, or at least he mentioned it. Ah, that the commonly misunderstood aspect of MMT light switch brains may pick this up and think like the response to market crashes. L o l mmt. They got this in the bag. Well, no, MMT actually gives them a much broader leverage to try to rein things in than they would have under another economic system. And again, to you know, I've said this in the comments before. We're not here to debate the merits of different economic systems, were analyzing the one that they're rolling with right now in pointing out its failings in trying to forecast where it could go and look MMT fixed the economy quote unquote fixed the economy In 2008 it was a restructuring. They took advantage of it. There were winners and losers in that battle and there was a consolidation that went on. And you end up with the model that you have today and many people have pointed out that yeah, you got yourselves out of 2008. But that doesn't mean that in the long run, the next shoe to drop is likely going to be more painful. And you may not be able to mm to your way out of things the next time it comes around and nobody planned on a pandemic. Now we're gonna talk about in the bonus our that they actually knew about that. Well, they didn't know about this pandemic, but they had run scenarios and tests. And there were briefings that took place between the Obama administration and the Trump White House and even the Trump White House six months ago doing a a scenario on the pandemic, and they knew that it could be bad. They knew what the outcome could be in this pandemic like this was a when not if situation. And they don't have the tools in the central banking system to fix this. You saw emergency rate cut last Sunday. And what did the market due on Monday? Minus 1500. That's not what that was supposed to do, right. They fire these bazookas and they're supposed to make things better and stabilize things, and they haven't been able to do that. You have negative interest rates. People are starting to point this out. And this isn't just a United States phenomenon. This has happened. It happened in Europe before it happened here, their economies in much worse shape than it is here. Higher unemployment. Many more problems were much further in debt than they are. But, um, you know, to the extent that debts matter, it's like, yeah, they don't matter. But it's still not L O L money printer Gober, And nothing changes. They may be able to pull themselves out of this with enough liquidity. I mean, but at what cost? At what cost and not in a dollar amount. I mean in their ability to carry on to the next one. Maybe they will. But everybody has kind of got into. The 2008 brought us to the point where we're looking at this system is a joke now, and it's not just us, it's other people. Other people in the mainstream financial analysis industry are calling the system. Ah, fucking joke. And so if they do this again, it's It's like that. Nobody's gonna believe in this system. The whole thing is just kind of turning into a joke, and that's why they don't They don't really have any ability to save it. And that's why you're seeing when big line go down and Fed takes action. Big line go down more. That is the result of them kind of being out of steam in their ability to fix things. And they've pumped $9 trillion in liquidity into the markets in the last six months, and here we are secure. Er, yeah, I think we have been talking about this since it began with these overnight repo operations back in October, where they were doing a few 1,000,000,000 here, a few 1,000,000,000 there, 50 billion this weekend, 100 billion this weekend And despite the and this was the life support, right? This was the This was them putting through this economy on the inter baiter and saying, All right, we're gonna do everything we can to save this thing and keep it afloat. And then, of course, some of the alternative treatments included cutting interest rates and just trying to keep it limping along. But eventually, Yeah, it seems that that the pandemic was the straw that broke the broke the camel's back here. Yeah. And you know, you've seen you've seen this happen for a while and, um, you know, there there are ramifications. If they can't pull this out anymore like they're out of, I mean, how far can they cut wrench interest rates to make this better? They can't, um, you know, the negative native, I mean, the only, actually, And then I'll go back to What we're talking about in the first half is the Although there is one thing that they could do to fix this and it and it involves MMT, and that is to take the money that you're giving to the banks and give it to people. Um, that is the one thing that they could do here. They're not going to do it. Maybe they will. I don't know, but I I find it highly doubtful that they would actually do that. But that is something that they could do. Ah, that that would actually buy them another, you know, get out of jail free card for one of these things. But if they don't do that, we've already demonstrated what it would be like if if they if they don't make payments to people. As you have millions of people streaming into the unemployment line, they're gonna have many more problems than just people not being able to feed themselves. Um, you're gonna have violence. You're gonna have looting. You're gonna have potentially a lot of problems. You're already seeing that that start to tick up. Now they could close the stock market. Um, and you know, it could it could be something that they may be. Ah, maybe they try to do. But that doesn't That doesn't change. You know, the fundamentals of people just not being able to feed themselves. I mean, they still have to solve that problem. Unless they're willing to pump liquidity toward American people. It's it's not going to really work, so they don't have a whole lot of options. Um, you know, I think that's evidence by what we've seen play out so far, because if they could turn this around, they would and they would try to stem the bleeding. It's been sort of the central focus of the president until he had to start taking it seriously. And you start to see these close close downs going on around the country, and you have to sort of put all of you can't just look at one thing and ignore the rest of the context. And and you know, you have these increasing predictions of minus GDP and increasingly people running around with their hair on fire. You have a lot of analysts pointing to the fact that they don't have a whole lot of other options left. And there isn't really some big secret secret sauce that MMT can pull out except, as I said, printing money and giving it directly to people right, giving it directly to Americans in the country. Now they, a serious country would actually print $10 trillion fund a massive domestic infrastructure Ah project like these air things that they could do. Will they do them? Probably not. And until they actually do something, this system is that at substantial risk. I know this sort of breaks the conventional wisdom of Hello. Well, this goes on forever, which nothing goes on forever. And the conventional wisdom of nothing is off. You know, nothing is off the table in terms of, um, you know, things. Things will always just go on and nothing will change. And it's like you're actually seeing some of that take place now in the 2008 crisis wasn't something that that they expected or anticipated. They sort of went with it and made it work out to their advantage as much as possible. But in the long run, it got them here, right, like this is what got them to where we are today. And so I sort of alluded to this before, But you have this. Ah, this Jewish had funds. Hedge fund manager named Bill Ackman. Now there's been a lot of bad takes on Bill Ackman. I mean, some people have been appointing to his tweet, which then turned into a 28 minute interview on CNBC's halftime report. I have taken out the choice audio of this and have boiled it all down into ah, the most important parts. But he tweeted on ah on Wednesday, early in the morning. Mr. President, the only answer is to shut down the country for the next 30 days and closed the borders. Shut it down. Tell all Americans that you're putting us on an extended spring break at home with family. Keep only essential services open. The government pays all wages until we reopened. This is panic mode because they know if they don't do this, it's gonna be a problem in one of the things I'll point out, is that the the economic breakdown, the way that it's taking shape today, just as it did in 2008. Except you argue that this is on a trajectory to be much worse is that it's this economy. Dow 30,000 bloviating Donald with jobs for everybody, blacks and Asians and browns. And whatever he does, it's the only thing that legitimizes the political system because you take that away, even take 33% of it away is what we've seen in the last couple of weeks and the whole political system gets turned upside down, right? Like the whole. You know, Republicans and Democrats are still trying to do do their usual stick, but they're not able to pull it off. And what happened in 2008 actually lead to the radicalization that made politicians like Trump and Bernie possible. And so if this continues, it's This is this imbalance, right? The pendulum swinging back and forth in every direction that the people think that it does and you're going to get Republican and then Democrat and then Republican and then Democrat. But what you've gotten is more extreme Republican, more extreme Democrat, and things were starting to come out of balance. And they don't like that because it costs them a lot of money, time, effort and mask slippage to try to bring it back into balance. And they did that successfully with Barack Obama. But is it gonna play out that way in the long run? Maybe, Maybe not, but all I'll let you weigh in here, James, before I start the the Ackman audio fit Sing Yeah, and the thing is that conditions for the middle class have not improved. In fact, they've gotten worse from 2007 to now. If you were to even remove Oh, wait through 2010 from your calculus, people have less in savings, People are poor, people are more overextended on their debts and people can't get raises and haven't seen wage increases at no. Where they work in decades in many cases. And so people are increasingly adopting these. I don't know if you call them a liberal, but they're adopting these positions where they're demanding more from this system that demanded more with Trump. Many people demanded more in 2016 with Bernie, and the solutions that the ruling class have to offer us are becoming more and more extreme in a way that they don't like either right they would. They would be perfectly content to just do the 22.2 trillion kiwi, whatever fine. And have that be the only discussion. They do not like the fact that that it's now Ah ah, very common talking point. Almost unanimous people saying Yeah, give us you be I during this period and in fact, because if that becomes a part of the calculus, then terribly people say moving the conversation further saying, You know what? Why don't you just give us? You be I all the time and that's something they definitely don't want to be doing? No, they definitely don't want to be moving in that direction. And and so you have to take what Ackman says with a grain of salt because some people were looking toe Ackman, not even understanding that he's a Jew and not even understanding what his background is, not even understanding that you know his role with the herbal life short and everything else. You have to really look into this guy, and you have to understand exactly what he's doing here. And some of this had to do with him shorting stocks that day in order to make make some money. That's part of what this was all about. But this is This is a guy who is also freaking out about the state of affairs and that they can't see the bottom. They don't know what's coming, and a lot of the rational fears that he has about the disease itself. In the spread of it are a lot of things that I can actually I think we can all sort of relate to in in terms of, um, seeing what was coming ahead of the curve and reacting to it. And this guy is somebody who sees a billionaire. He sits at the top of the strata and he is somebody who has a lot to lose from this, in fact, everything because they have invested everything in the United States of America. Um, and you know, they depend on our military, for for the future of Israel in the Israel project. And so this you have to understand why he's react. He's reacting to this in a different way than then. Perhaps we would, but for the same reason. So this is Bill Ackman. It's It's kind of a longer piece of audio, but I think it's all him important. And then there's a couple smaller pieces. But this is the This is the streamline express to go version of the ah of the 28 minute interview. And again, this is supposed to be a phone call in to CNBC to be like, you know, give us your read on the economy bill, and he just went on for 28 minutes and actually made ah, the guy I think Walter Walter something from CNBC kind of uncomfortable. And it's it's it's funny to listen to his reaction to Ackman. So here it is. James hasn't heard this before. I have. So here we go, Mr President, The only answer is to shut down the country for the next 30 days and close the borders. You say, Tell all Americans that you are putting us on an extended spring break at home with family keeping only essential services open. The government pays wages until we reopen. I know from our conversations that you have been worried for some time. How did it manifest today with these tweets and going public? Maybe just a little bit context, You know, I'm an optimist, but beginning and I don't know. Late January I was getting increasingly bearish, and I woke up with a nightmare. And my nightmare was you had this virus that replicates on insects incredibly rapidly. You know, Each person infects 2.5 people, each of whom effect to and have people, you know. One becomes 22 becomes 44 becomes 16 16 to 56 65,000. You get to just massive massive numbers and watching this thing rollout in China, it kills 1 to 2% of the people in China. The numbers been closer to four. People think that's because the health system's been overwhelmed that 1 to 2% means friends and family going to die. The concentration was the effect were sort of older people, older people with longer cardiac conditions. I have a father is almost 81. He's got lung cancer. He lost 2\/3 of his ah lung capacity as a result of surgery, got some health issues and you have a virus. The other thing that really scared me is unlike the flu or when you're sick, you know you have it. Here you go as much as two weeks without showing any symptoms or maybe a little bit of a cold. Meanwhile, you're incredibly infectious, and I thought the combination of that the fact that the virus lives on surfaces for as much as nine days if we believe what we're reading means this thing can spread everywhere. And when China shut down Wuhan, they told people 12 hours from now we're gonna shut down Wuhan. Well, what happened? Five million people left one and five million people dispersed around China and five million people dispersed around the world and its seated the virus. And I think people are just not used to thinking about exponential calm pounding on a daily basis. In the beginning, you don't see anything. And I think the fact that was it sort of people repressed reports that it only killed old people only killed sick people. I think it made most of the country not particular concerned. I think the fact that 99% of people lived made most of the people not concerned the fact that it was in China and was like far away. And, you know, Chinese have unusual dietary, you know, obviously some things we don't eat. I just think all of these things made people not take it furiously. But when I did, the math actually had, you know, the laws of probability tell me this thing is going to be everywhere. Everyone, 50% of the world is going to get infected, and I sort of rolled this thing forward and I said, It's just it's just a matter of time D D and do you take comfort in in some of the steps that have been taken. It certainly appears as though our response now from a federal level is much better than it was initially. I think we can all admit and take comfort that it is ramped up. Now. What about the steps that have been taken? The city in which you live is considering a shelter in home sheltering or declaration. I think Governor Cuomo has done a superb job. Uh, and I think the White House, the president, the vice president are finally doing taking a lot of the necessary steps. But it's not enough. And the reason why it's not enough is the only way. What's gonna happen if we continue the way we are operating is until a vaccine is manufactured, distributed and injected. We will go through a Depression era period in the country and millions of people will die around the globe, and as many as a 1,000,000 Americans are going to die. Ah, and it's just Max, okay? And the problem is, if you lock down New York, what will happen is Governor Cuomo will say, Okay, we're locking down New York. You know, there was a rumor of that. So what everyone do. Everyone got out of New York. Okay, Move when somewhere else. Because they didn't. No one wants to be locked out, and they and they spread the virus and they're not doing it, you know, to cause anyone harm, that is, don't even know that they're infected. You know, the so called are not, You know, the reproduction number of the virus, I think, is much higher, particularly in that group of people. You have a group of people that are 20 to 30 the millennials. They're going out there having fun. They don't feel sick, not afraid of anything. And they're spreading this everywhere. And by the way, when the colleges shut down, they all go on spring break and they spread it everywhere. And so I think there's a very high probability that millions of Americans have the virus and I'll give you some interesting anecdotal data points. So we took very aggressive measures at Pershing Square because I was obviously very barest on this. On February 27th I told the firm that we're going to work from home. We have a small firm. We've got 50 people. We already have two people again. We've been working from home for three weeks. We have two people out of 50 that are likely to have the Corona virus based on their symptoms. We're waiting for outcomes in one case for a test. Yet, Theater one is not. It can't get a test. We're in a place where more difficult for them to get a test. But it's kind of 4% of our company taking aggressive, aggressive measures. So it's incredibly widespread. It's deadly. And as we heard on the president's announcement, and this is if you actually track follow Twitter, this was out a few days ago. It's killing young people. It's killing healthy people, right? I think, originally would happen if it's broke out in New York and it was killing babies, okay, The country would not have taken the approach it has taken. OK, but that is the approach that we have to take. Assume it's gonna kill your child. Yeah, and so he starts to. That's That's just the 1st 5 minutes of this interview with with Ackman, and he starts to get. He starts to get pretty upset. Now he's calling for is the same thing in his tweet 30 day shutdown off everything. And he says, And he goes, goes on to make the case that that if unless you do that and he's not wrong about this, is that most company like Hilton Hotels and Marriott hotels can't survive 30 days with no revenue. Maybe they could. Can they survive 1\/4? Definitely not. And so what he's saying is, You know, this whole financial system, as everybody understands MMT or not, is a house of cards, and MMT can sort of be like superglue holding the cards up, you know, here and there. But if you drop a cinder block on top of that house of cards, that house of cards isn't gonna stand up. It's not gonna survive a tornado. It's not going to survive a hurricane. And what he's saying is this incremental penny ante stuff. And he illustrates a good point that we actually have not brought up on the show, which is that these rumors of shutdowns and close downs of different places, even if they give people a six hour lead time or a 12 hour lead time, Given what we know about the incubation period of the virus, how many people left New York and fled to different places. I mean, he's not wrong about that. When you have different rules, people are moving all over the country. Flights are still moving, whatever. And you're not going to know for two weeks how bad this thing's getting. And you're already seeing the data like Like, Look, I wouldn't react to this guy if I hadn't had these thoughts myself. And you hadn't had these thoughts yourself three weeks ago, four weeks ago that this was coming and this guy's on a financial show. On Wednesday, as the market is tanking, saying these things I mean again, he could be shorting stock. There could be different things going on. But the guy gets emotional and we're gonna play some of that audio, too. But I want to get your reaction to some of the stuff he's he's been saying so far. Yeah, I think that point about the Wuhan announcement of ah, quarantine actually led to further dispersion of the virus. That's that's exactly right. And this is the other problem of what we what we're doing in America to with this sort of slow rolling incrementalism where New York says, like, yeah, we're gonna shut some things down and then a week later, yeah, I would shut some more things down. People. People have a sense for what's coming, if some people do, and they have a sense that they don't want to be around when that shutdown happens. And they certainly don't want to be in a major metropolitan city when, ah, you know things wouldn't movement becomes restricted and, you know they see the videos out of China about people people locked in there, locked in their skyscrapers with the doors welded shut. And they think, Yeah, that's not for me. And so they leave and they go elsewhere. They go there New York to rural Pennsylvania. If there from Washington State, as many it was, was the original epicenter. People go to Oregon, people goto Idaho and you. You have these people that are then carriers that air than introducing this virus into the more rural parts of the country. Parts of the country that don't have, I mean like his. His example. With China's healthier system being inadequate, rural America has many of the same health care inadequacies that rural China does. In fact, worse in many places, as so many of these hospitals have gone bankrupt in recent years. So yeah, I think this is absolutely a very salient point that I haven't actually heard anyone else besides Mr Bill Ackman bring up. Yeah, And it's one of the reasons why you need national level draconian measures taken in China. You know, a lot of people are, you know, doing light switch. Brain takes on China like we're gonna talk about China in the in the bonus in the bonus lap of the show. But people are taking this this sort of like absolutist brain, take a light switch. Brain take of like, china did draconian measure. Therefore China solve problem will. China didn't close its borders. China gave people lead time before they were going to shut it down. I'm not saying they did it on purpose because they're doing it here in the United States. You could make the argument whether or not it's the same incremental bullshit is actually leading to mawr problems. Whether that's on purpose or not, the fact of the matter is it has a definitive outcome that is not good. And you know this. You know China, China is possibly lying, potentially lying. I think they're lying about their numbers. But that's different than the criticism of China that that the United States government has been perpetrating via the CIA A and the Deep State and neoconservatives and their Shabbos, um, people on the distant right who have been, you know, funny enough defending Charlie Weinstein and now defending deep state positions on all of that as well. It's sort of funny how that works out, but the notion that that this can this penny ante incremental, um change change can sort of go on. It's It's not like the economy is a very complex system and each each bad set of news. You know, you pull seven million people out of the economy. That's not just the businesses that employed seven million people who are not making their money anymore. That's seven million people who don't have the money to spend on things like cars and mortgages. And it has. I think most people don't understand how these effects take shape, and if that happens slowly over time, what happens is thes businesses that depend on the revenue to survive at all start going down, and then that leads to more job loss. And that's pretty soon the whole system starts collapsing on itself, and I know people don't like that term, but the reality is that the system is very fragile and you can't at the same time argue that the system is strong and resilient and can last forever. When in reality, you know, it's like, Okay, then why didn't the Dow stop dropping at 25,000 right? And point to point to me, the people that are making trillions of dollars off of this No, they're not. You could make the argument that people are buying up stocks at lower prices. Sure, there's gonna be vulture capitalists who come in and do that, but those same vulture capitalists, like Bill Ackman himself. Mr. Herbalife, Short guy. Um, he is calling for a total shutdown of this. Wouldn't it be better for Ackman for this to go on for a long time so that he can he can take care of this? No, they want a complete total shutdown of everything in Ackman is also advocating by the way that all wages for employees get paid by the government. He's not even argue like this is a guy who's not even arguing for the bacon gay like rebate check that the Republicans and Democrats want to send to people. He's actually just saying, Pay everyone's wages. Please make this pain go away as quickly as possible because if you don't and you drag this out for a long period time, you're gonna end up in a lot of in a lot of, ah financial trouble and we could lose our capitalism is what what I read between the lines and what this guy's saying. So that's exactly how I read it, too. He's not looking at the U. S. As something that he is deeply invested in being a part of their viewing it. They're viewing their position as doing things to it in order to keep this thing running for longer. To keep this this Ah yeah, this economic construction they have set up running and profiting them for longer. That's what they're interested because because if it goes away like their whole, their whole stick goes up in smoke, just like it did in Germany 80 or 90 years ago. It's kind of funny when you look at when you overlay graphs better 90 years old from Germany and graphs Ah, that are five days old from the and say it's funny how that works. I know the thing. I know it's not exactly the same, but that's what these people are thinking in these dire economic straits. People start pointing fingers, you know, and part of the whole part of the whole game has been to keep in ever, never ending supply of product in digital dopamine hits flowing with people. And now all of a sudden, all of that is evaporating. And it's evaporating very, very quickly, right? And how many fingers were pointed, it knows, is as a result of 2008 and the ensuing nationalist sort of like car, you know, ah, cards falling down as a result of that. And if we have a crisis, even mawr a destructive, even larger and magnitude and that who knows? They certainly don't know. And this is why I mean, they're viewing. This is like a client state, right? This is how the US would would treat what that what they're how they're talking about the U. S. Is the same way the U. S. Would treat some insurrection in some client state somewhere or something that we just want to manage. They would shut it down and and not be concerned about, You know, like these. Ah, these fake concerns about Oh, you know, productivity. You know, people you know, our economy is going to suffer for it. Like if you're interested in in the long term survival of this entity, whatever this entity, maybe you have to embrace the pain of making the right decision for the long term. You cannot tease it out over a long period of time and allow things to fester like we are here. No, no, you can't. So here's more Bill Ackman Audio. This is I forget which clip this is. But the thes air short, these ones air the rest of them are short on these air. All like, ah, heightened state of ah, of this guy just starts to get very upset. We do this, We're just incrementally over time until there's a vaccine. Uh, we're done. Okay. And what will happen is the hotel industry and the restaurant industry will go bankrupt first. Boeing is on the brink. Okay. Boeing will not survive without a government bailout. Okay, So look, at airline industry, auto industry, restaurant industry, hotel industry. Um, you know, capitalism does not work in an 18 month struck down capitalism can work in a 30 day shutdown. We got do the 38 shutdown. And if the president has to bring out the National Guard to keep people in their homes, which I don't think he will need to dio he should do it. He added, a keeps going. Hold on that corporate America is in shutdown right now. Okay? It just doesn't know it yet or it knows yet, but no one. Okay, hotels, every hotel is gonna shut every one of them, OK? Except ones that have government workers in a particular location. For whatever reason, that's in that they're all gonna shut. Okay, Every airlines will stop flying. Okay? On airline without revenues. Okay, it's toast. Okay. And you can bridge the airline for, you know, a short appear to time. Okay, But you can't Bridget for years, okay? At the airline industry goes bankrupt, the hotel industry goes bankrupt, the restaurant industry goes bankrupt. And by the way, private equity goes bankrupt. Okay? Blackstone's a fabulous private equity firm. Cakey are they do a tremendous job, but every one of their companies has a lot of leverage. OK, everyone of their companies go bankrupt. If this thing rolls out over 18 months, anybody means by a lot of leverage is means that they're overleveraged means that they've already dipped into their credit lines. It means that they've already spent everything that they can and a lot of that has been on stock buybacks. I mean, a lot of it was irresponsible spending. It was not investing in the actual companies themselves. And you know this. This The same promises were made under the Obama administration that these bailouts, you know, the money could only be used to help American work. We've heard all the ship before, and it's never worked out in that way. And if it's any indication about how it's gonna work out this time, look what they've done with this quote unquote, you be I It's not you be, Iet's. It's universal bloviation on bond. I mean, that's what they've taught me. It's the same. It's the same old shit. So you want to hear the last clip or you want to react before I play that one. Let's go Let's go back to Bill for more. Okay, So this is the This is where he goes, like, full. Shut it down. He does it. It's great. Hell is coming. Okay? And I felt you really never had this experience before my life. The closest I had with financial crisis. Where I'm saying, you know, things are coming bad coming, but this was a feeling like I've never had. Like, there's a tsunami coming, right? The tsunami is coming and you feel it in the air, right? The tide starts to roll out, okay. And on the beach, people are playing and having fun, like there's nothing going on. And that is the feeling I've had for the last two months. Okay? And my colleagues at work, okay. Thought it was a lunatic. Okay, A lunatic. Okay. I did stuff I've never done before. I've never had more than, like, 200 bucks in my wallet. Okay? I went to the bank and I took out a large amount of money in cash Because of this concern, I made preparations this a month ago. Okay. More than a month ago. Again, that's all irrelevant. What happened the past? I just think the the bottom line is it's a really simple answer. I'm very confident the White House is considering it. But what's scaring the American people and corporate America is the gradual rollout. Okay of what's going on? We need to shut it down now. Shut it down now. Down now. Got it down now Shut it down Now, A miracle end as we know it. Okay, I'm sorry to say so. Okay, Unless we take this option, okay? And therefore I believe is a certainty in the very short term, okay, that the president's gonna go on TV is going to say, America, it's time to go on spring break at home and yeah, I mean, you could argue like if you want to argue that this guy is intentionally scaring the shit out of people in order to get them to sell all their stunk and then he's gonna buy it up. I mean, you could make that argument, but he's telling he wants the president to shut it all down like he's telling them to turn everything off. And he's calling for things that are pretty extreme. Not from our perspective, but calling for things like pay everybody's wages, bridge the gap for all these companies and do it for 30 days and make one uniform rule for everyone. I mean, it's a great policy if you want to stop the spread of the virus. It's also a great policy if you don't want the system that many of his co ethnics have been so invested in for the last 80 years, like he's speaking to them as much as he's speaking to the president and everybody else, which is that if you don't do something now and you don't stop this penny ante incrementalist bullshit like this is not going to work out for all of us would lose everything if you catch Yeah, yeah, we're gonna lose everything. It's it's not going to be something we rebound from within a decade like 08 waas Or like the eighties were, It's going to be fundamental and we're going to lose so much more. And it's also going to give way to people becoming ah, essentially out of control. Politically red with people have will lose total faith in the system once again, but more so than they did in 2008. So I think Yeah, you can question his motivations and and look to what? Maybe motivating him to make these prescriptions. But I don't disagree with anything that he's saying here. I think he's right on as faras potential solutions go. I agree with him for the wrong reasons. His reasons are because he he feels that the system is in danger to someone like him. Um, he, you know, he gives thes, You know, these thes anecdotes about his father and, you know, Children and all the seven There were very real and very emotional appeals. But, um, you know the idea that he cares about broad broad America, the broad American public. I mean, this suggests of people understand when he says the government should pay all wages until it reopens. He's not saying that we care. He he's saying it because he cares about people spending that money on other things. Now that's a healthy economy, right? Like people are spending the money that they're given to support the service economy that that has been foisted upon us. We don't have manufacturing. Um, but he supports that because if the government doesn't do that, the whole thing falls apart too. and the Republicans and Democrats with their shit show. Um, you know, negotiations on this rebate built, they're gonna learn the hard way, I think. But you have. You have It's not just Bill Ackman that's freaking out. Um, if you look around some of the steris that are out there, um, people, very wealthy people are unloading their art, like on the market, like they're dumping tons and tons of rare art because they're trying to liquidate. You know, things that they don't think are, you know, gonna help them through this. And they're also ah, potentially fleeing toe bunkers. James, right? I mean, this is something that we've seen is a phenomenon as well. Oh, yeah. The one exception to the suffering in the airline industry, where these passenger airlines are demanding bailouts, airlines that are demanding bailouts or these private jet airlines that are seeing record profits and soaring demand. There's a story this week about Martha's Vineyard being difficulty desolate this time of year. But several 1000 people landed in Nantucket alone, which I know to the much to the chagrin of some residents who live nearby the full time residents and commercial airlines taking a beating billions of dollars in losses, hundreds of thousands of cancellations. But ah, for Richard Zaher origin unknown. It's guys a CEO of a US based private jet line, he says. Business is booming and quote enquiries have gone through the roof. So that's where these people flying to write. I thought. Well, first of all, I thought the borders were closed and we shut it all down. What's going on? Who's paying 25,000? 35,000? Sometimes mawr to go to these remote destinations like Alaska, Hawaii, of South South Pacific, New Zealand. Are these people going? Why why aren't they locking arms and singing? Imagine in joining in the Great American Project, a rebound stronger than ever From from this new challenge we're facing well, some of them are flying to the typical hot spots. You would expect Chicago D. C. L. A. New York, Tel Aviv. But they're also going to places like Boise, Idaho, Butte, Montana and Casper, Wyoming. And you mentioned the B word. You start talking about bunkers and and I'm here to tell you folks, I have the documents and the elites were fleeing and you know it sounds a K a spooky A. But when you look at it thes elite survivalist compounds, they're legit. And they've been discussed in a multitude of elite four elite publications back to at least 2016. So they've been doing this for years, and some of that at the time was sort of like like, mid wit, me midwin upper middle class. Well, we may need to flee if Donald Trump turns us into a fascist country. But I mean, and there was some of that, but the core was much more future thinking than that. There's this company Rising s company. They build these high end elite bunkers In 2016 their sales grew 700% over 2015. There is a luxury shelter called Vivo X Point in the black hills of South Dakota, 575 military bunkers that can can house 5000 people that you know you need $200,000 to get in. If you want to be a part of that little community, there's the Survival Condo project, which is an old missile silo, so people are paying hundreds of thousands of dollars on the low end four rooms for four portions of these compounds far out so far away from any urban center, middle of Nevada, middle of Idaho. Um and you know, why Are so why are they doing this? Why? Why would they be doing this if they had faith that this system could last forever? Because that's the thing right there. Actual behaviour indicates how they feel about this. And so you will get people saying, Well, the fundamentals are strong, like the economy is great. Okay, well, then why are you investing a $1,000,000 in a bug out shelter and running away from this great society you're building for us? Doesn't really make sense, does it? Doesn't dress. No, it doesn't make a whole lot of sense. And And also, I mean, the idea that, well, it's just ah l o l restructuring. And they're just sitting at home profiting off of this while they laugh at you, digging around for the last pound of ground beef grocery store. It's like, Well, why Why would they Ah, why would they be? Why would they be fleeing now? Why would they be scattering all over the country and ah, you know, to their purchasing up large blocks of land in places that are in the middle of nowhere. Why would they do that? Because they they see that this is highly problematic. We didn't really see as much of this in 2008 did we? Um, that was that was more catching people by surprise. And there is an element of this where people are trying to escape the disease itself to. But this this, you know, this also has to do with the people potentially seeing that, you know, you see military trucks rolling around. It's like, Well, maybe it's a good idea to get away from where those are, especially if you're in, I don't know. In a nice condo in downtown Baltimore, in the Inner Harbor Might be time to get the fuck out of town. Yeah, and people were leaving now because of the virus, obviously being the catalytic event. But they've been making these preparations for years, and so it shows you they're not simply running away from the virus. They have been preparing for a long time because they understand this project. They're a part of the system. They are building this containment pen they're building for Americans to live in and spend money in and consume in and take out loans in its very unpopular. And they, you know, I don't want to say they knew this was coming. This specific event was coming, but they have to have known something was coming. Something was coming. 2008 made them very scared, right? And what had to be done as a result of a weight made the very scared. And and they understand that this project they've been a part of is not going to be popular with people. And that's why you have Ah, it's very interesting. There's this piece in The New Yorker from 2017 where they talked to some of these people that are Silicon Valley types and venture capitalist types that are making these preparations people like Steve Huffman of Reddit, who I believe is a goy. People like Antonio Garcia Martinez, a former Facebook product manager who bought five wooded acres on an island in the northwest, brought in generators, solar panels and thousands of rounds of ammunition. But they also talked to some of these. These people who not are are not preparing themselves but are analyzing this as a phenomenon. Talk to talk to this guy, Robert Dugger, who was a former lobbyist for the financial industry hedge fund manager type. And he says, People have two very different responses to this feeling of impending calamity. He says, Quote, people know the only real answer is fixed. The problem. It's the reason most of them give a lot of good money to good causes, quote unquote good causes. At the time, though, they invest in the mechanics of escape. He then went on to recall a dinner he had in New York after 9 11 Oh God, where, he said, quote a group of senti millionaires and a couple of billionaires were working through end of America scenarios and talking about what they would do. Most said they would fire up their planes and take their families toe Western ranches or homes in other countries. This is Ah, this is an exodus of self imposed exodus that they've been planning for years. They understood this thing could not go on forever and they wanted to get the heck out of Dodge before it all spun out of alignment. And it's very interesting it is, and I'm trying to see if Steve Huffman is's Jewish or not, but it seems like it. But possibly it was edited. Ah, can't really tell much, but maybe somebody, maybe somebody will point that out. So what about though? Those of us the many of us that can't simply fire up the Lear jet and whisk our families wait in New Zealand? How are we left to deal with the pandemic? Not ah, not flying away their helicopter More like if scrounging for the last roll of toilet paper at the Costco. Getting now stories as these honor system quarantines have been imposed across the country. People simply saying like L a. Well, yeah, I know I'm not gonna do that. And not only people who are at risk of being infected or people who are just going to the jobs people who are actually diagnosed who actually have Corona virus. There's a story from Kentucky about a guy who got tested. He was one of the one of the few, the few the proud get a test and then promptly checked himself out of the hospital against medical advice. And deputies have had to now surround his house under the direction of the Nelson County Sheriff Ramon Been Era, who says that they will stay parked outside the man's home for 24 hours a day in two weeks and that he's now cooperative. So yeah, I mean, and this is just the tip of the iceberg, isn't it, in terms of people engaging in in not only antisocial but outright dangerous behavior in response to this, we have now, and this is funny. We predicted this yet again. The confirmation bias. It's We predicted this two weeks ago that there would be a stigma began Teoh beginning to be attached to people who were a little bit too insistent about health and safety rules. Right? And sure enough, quarantine shaming. Calling out those not abiding by social distancing rules is part of a new and start only reality for Americans who must navigate a world of rapidly evolving social norms in the era of pandemic, people who aren't abiding by these health and safety recommendations are being stigmatized. Does this is This is a new evolution, perhaps in the oppression goes hand in hand with white supremacy. They talk to this guy, Steven Deal, who works at this warehouse in Chicago, one of the few who still has a warehouse job in Chicago who wears a mask to work because a family member has a compromised immune system, he's terrified of catching. The Corona virus has posted a sign at the warehouse entrance asking people to put on masks that were provided to protect his family. But several co workers didn't wear them, and one even coughed into Um, you know, I think that's evidence by what we've seen play out so far, because if they could turn this around, they would and they would try to stem the bleeding. It's been sort of the central focus of the president until he had to start taking it seriously. And you start to see these close close downs going on around the country, and you have to sort of put all of you can't just look at one thing and ignore the rest of the context. And and you know, you have these increasing predictions of minus GDP and increasingly people running around with their hair on fire. You have a lot of analysts pointing to the fact that they don't have a whole lot of other options left. And there isn't really some big secret secret sauce that MMT can pull out except, as I said, printing money and giving it directly to people right, giving it directly to Americans in the country. Now they, a serious country would actually print $10 trillion fund a massive domestic infrastructure Ah project like these air things that they could do. Will they do them? Probably not. And until they actually do something, this system is that at substantial risk. I know this sort of breaks the conventional wisdom of Hello. Well, this goes on forever, which nothing goes on forever. And the conventional wisdom of nothing is off. You know, nothing is off the table in terms of, um, you know, things. Things will always just go on and nothing will change. And it's like you're actually seeing some of that take place now in the 2008 crisis wasn't something that that they expected or anticipated. They sort of went with it and made it work out to their advantage as much as possible. But in the long run, it got them here, right, like this is what got them to where we are today. And so I sort of alluded to this before, But you have this. Ah, this Jewish had funds. Hedge fund manager named Bill Ackman. Now there's been a lot of bad takes on Bill Ackman. I mean, some people have been appointing to his tweet, which then turned into a 28 minute interview on CNBC's halftime report. I have taken out the choice audio of this and have boiled it all down into ah, the most important parts. But he tweeted on ah on Wednesday, early in the morning. Mr. President, the only answer is to shut down the country for the next 30 days and closed the borders. Shut it down. Tell all Americans that you're putting us on an extended spring break at home with family. Keep only essential services open. The government pays all wages until we reopened. This is panic mode because they know if they don't do this, it's gonna be a problem in one of the things I'll point out, is that the the economic breakdown, the way that it's taking shape today, just as it did in 2008. Except you argue that this is on a trajectory to be much worse is that it's this economy. Dow 30,000 bloviating Donald with jobs for everybody, blacks and Asians and browns. And whatever he does, it's the only thing that legitimizes the political system because you take that away, even take 33% of it away is what we've seen in the last couple of weeks and the whole political system gets turned upside down, right? Like the whole. You know, Republicans and Democrats are still trying to do do their usual stick, but they're not able to pull it off. And what happened in 2008 actually lead to the radicalization that made politicians like Trump and Bernie possible. And so if this continues, it's This is this imbalance, right? The pendulum swinging back and forth in every direction that the people think that it does and you're going to get Republican and then Democrat and then Republican and then Democrat. But what you've gotten is more extreme Republican, more extreme Democrat, and things were starting to come out of balance. And they don't like that because it costs them a lot of money, time, effort and mask slippage to try to bring it back into balance. And they did that successfully with Barack Obama. But is it gonna play out that way in the long run? Maybe, Maybe not, but all I'll let you weigh in here, James, before I start the the Ackman audio fit Sing Yeah, and the thing is that conditions for the middle class have not improved. In fact, they've gotten worse from 2007 to now. If you were to even remove Oh, wait through 2010 from your calculus, people have less in savings, People are poor, people are more overextended on their debts and people can't get raises and haven't seen wage increases at no. Where they work in decades in many cases. And so people are increasingly adopting these. I don't know if you call them a liberal, but they're adopting these positions where they're demanding more from this system that demanded more with Trump. Many people demanded more in 2016 with Bernie, and the solutions that the ruling class have to offer us are becoming more and more extreme in a way that they don't like either right they would. They would be perfectly content to just do the 22.2 trillion kiwi, whatever fine. And have that be the only discussion. They do not like the fact that that it's now Ah ah, very common talking point. Almost unanimous people saying Yeah, give us you be I during this period and in fact, because if that becomes a part of the calculus, then terribly people say moving the conversation further saying, You know what? Why don't you just give us? You be I all the time and that's something they definitely don't want to be doing? No, they definitely don't want to be moving in that direction. And and so you have to take what Ackman says with a grain of salt because some people were looking toe Ackman, not even understanding that he's a Jew and not even understanding what his background is, not even understanding that you know his role with the herbal life short and everything else. You have to really look into this guy, and you have to understand exactly what he's doing here. And some of this had to do with him shorting stocks that day in order to make make some money. That's part of what this was all about. But this is This is a guy who is also freaking out about the state of affairs and that they can't see the bottom. They don't know what's coming, and a lot of the rational fears that he has about the disease itself. In the spread of it are a lot of things that I can actually I think we can all sort of relate to in in terms of, um, seeing what was coming ahead of the curve and reacting to it. And this guy is somebody who sees a billionaire. He sits at the top of the strata and he is somebody who has a lot to lose from this, in fact, everything because they have invested everything in the United States of America. Um, and you know, they depend on our military, for for the future of Israel in the Israel project. And so this you have to understand why he's react. He's reacting to this in a different way than then. Perhaps we would, but for the same reason. So this is Bill Ackman. It's It's kind of a longer piece of audio, but I think it's all him important. And then there's a couple smaller pieces. But this is the This is the streamline express to go version of the ah of the 28 minute interview. And again, this is supposed to be a phone call in to CNBC to be like, you know, give us your read on the economy bill, and he just went on for 28 minutes and actually made ah, the guy I think Walter Walter something from CNBC kind of uncomfortable. And it's it's it's funny to listen to his reaction to Ackman. So here it is. James hasn't heard this before. I have. So here we go, Mr President, The only answer is to shut down the country for the next 30 days and close the borders. You say, Tell all Americans that you are putting us on an extended spring break at home with family keeping only essential services open. The government pays wages until we reopen. I know from our conversations that you have been worried for some time. How did it manifest today with these tweets and going public? Maybe just a little bit context, You know, I'm an optimist, but beginning and I don't know. Late January I was getting increasingly bearish, and I woke up with a nightmare. And my nightmare was you had this virus that replicates on insects incredibly rapidly. You know, Each person infects 2.5 people, each of whom effect to and have people, you know. One becomes 22 becomes 44 becomes 16 16 to 56 65,000. You get to just massive massive numbers and watching this thing rollout in China, it kills 1 to 2% of the people in China. The numbers been closer to four. People think that's because the health system's been overwhelmed that 1 to 2% means friends and family going to die. The concentration was the effect were sort of older people, older people with longer cardiac conditions. I have a father is almost 81. He's got lung cancer. He lost 2\/3 of his ah lung capacity as a result of surgery, got some health issues and you have a virus. The other thing that really scared me is unlike the flu or when you're sick, you know you have it. Here you go as much as two weeks without showing any symptoms or maybe a little bit of a cold. Meanwhile, you're incredibly infectious, and I thought the combination of that the fact that the virus lives on surfaces for as much as nine days if we believe what we're reading means this thing can spread everywhere. And when China shut down Wuhan, they told people 12 hours from now we're gonna shut down Wuhan. Well, what happened? Five million people left one and five million people dispersed around China and five million people dispersed around the world and its seated the virus. And I think people are just not used to thinking about exponential calm pounding on a daily basis. In the beginning, you don't see anything. And I think the fact that was it sort of people repressed reports that it only killed old people only killed sick people. I think it made most of the country not particular concerned. I think the fact that 99% of people lived made most of the people not concerned the fact that it was in China and was like far away. And, you know, Chinese have unusual dietary, you know, obviously some things we don't eat. I just think all of these things made people not take it furiously. But when I did, the math actually had, you know, the laws of probability tell me this thing is going to be everywhere. Everyone, 50% of the world is going to get infected, and I sort of rolled this thing forward and I said, It's just it's just a matter of time D D and do you take comfort in in some of the steps that have been taken. It certainly appears as though our response now from a federal level is much better than it was initially. I think we can all admit and take comfort that it is ramped up. Now. What about the steps that have been taken? The city in which you live is considering a shelter in home sheltering or declaration. I think Governor Cuomo has done a superb job. Uh, and I think the White House, the president, the vice president are finally doing taking a lot of the necessary steps. But it's not enough. And the reason why it's not enough is the only way. What's gonna happen if we continue the way we are operating is until a vaccine is manufactured, distributed and injected. We will go through a Depression era period in the country and millions of people will die around the globe, and as many as a 1,000,000 Americans are going to die. Ah, and it's just Max, okay? And the problem is, if you lock down New York, what will happen is Governor Cuomo will say, Okay, we're locking down New York. You know, there was a rumor of that. So what everyone do. Everyone got out of New York. Okay, Move when somewhere else. Because they didn't. No one wants to be locked out, and they and they spread the virus and they're not doing it, you know, to cause anyone harm, that is, don't even know that they're infected. You know, the so called are not, You know, the reproduction number of the virus, I think, is much higher, particularly in that group of people. You have a group of people that are 20 to 30 the millennials. They're going out there having fun. They don't feel sick, not afraid of anything. And they're spreading this everywhere. And by the way, when the colleges shut down, they all go on spring break and they spread it everywhere. And so I think there's a very high probability that millions of Americans have the virus and I'll give you some interesting anecdotal data points. So we took very aggressive measures at Pershing Square because I was obviously very barest on this. On February 27th I told the firm that we're going to work from home. We have a small firm. We've got 50 people. We already have two people again. We've been working from home for three weeks. We have two people out of 50 that are likely to have the Corona virus based on their symptoms. We're waiting for outcomes in one case for a test. Yet, Theater one is not. It can't get a test. We're in a place where more difficult for them to get a test. But it's kind of 4% of our company taking aggressive, aggressive measures. So it's incredibly widespread. It's deadly. And as we heard on the president's announcement, and this is if you actually track follow Twitter, this was out a few days ago. It's killing young people. It's killing healthy people, right? I think, originally would happen if it's broke out in New York and it was killing babies, okay, The country would not have taken the approach it has taken. OK, but that is the approach that we have to take. Assume it's gonna kill your child. Yeah, and so he starts to. That's That's just the 1st 5 minutes of this interview with with Ackman, and he starts to get. He starts to get pretty upset. Now he's calling for is the same thing in his tweet 30 day shutdown off everything. And he says, And he goes, goes on to make the case that that if unless you do that and he's not wrong about this, is that most company like Hilton Hotels and Marriott hotels can't survive 30 days with no revenue. Maybe they could. Can they survive 1\/4? Definitely not. And so what he's saying is, You know, this whole financial system, as everybody understands MMT or not, is a house of cards, and MMT can sort of be like superglue holding the cards up, you know, here and there. But if you drop a cinder block on top of that house of cards, that house of cards isn't gonna stand up. It's not gonna survive a tornado. It's not going to survive a hurricane. And what he's saying is this incremental penny ante stuff. And he illustrates a good point that we actually have not brought up on the show, which is that these rumors of shutdowns and close downs of different places, even if they give people a six hour lead time or a 12 hour lead time, Given what we know about the incubation period of the virus, how many people left New York and fled to different places. I mean, he's not wrong about that. When you have different rules, people are moving all over the country. Flights are still moving, whatever. And you're not going to know for two weeks how bad this thing's getting. And you're already seeing the data like Like, Look, I wouldn't react to this guy if I hadn't had these thoughts myself. And you hadn't had these thoughts yourself three weeks ago, four weeks ago that this was coming and this guy's on a financial show. On Wednesday, as the market is tanking, saying these things I mean again, he could be shorting stock. There could be different things going on. But the guy gets emotional and we're gonna play some of that audio, too. But I want to get your reaction to some of the stuff he's he's been saying so far. Yeah, I think that point about the Wuhan announcement of ah, quarantine actually led to further dispersion of the virus. That's that's exactly right. And this is the other problem of what we what we're doing in America to with this sort of slow rolling incrementalism where New York says, like, yeah, we're gonna shut some things down and then a week later, yeah, I would shut some more things down. People. People have a sense for what's coming, if some people do, and they have a sense that they don't want to be around when that shutdown happens. And they certainly don't want to be in a major metropolitan city when, ah, you know things wouldn't movement becomes restricted and, you know they see the videos out of China about people people locked in there, locked in their skyscrapers with the doors welded shut. And they think, Yeah, that's not for me. And so they leave and they go elsewhere. They go there New York to rural Pennsylvania. If there from Washington State, as many it was, was the original epicenter. People go to Oregon, people goto Idaho and you. You have these people that are then carriers that air than introducing this virus into the more rural parts of the country. Parts of the country that don't have, I mean like his. His example. With China's healthier system being inadequate, rural America has many of the same health care inadequacies that rural China does. In fact, worse in many places, as so many of these hospitals have gone bankrupt in recent years. So yeah, I think this is absolutely a very salient point that I haven't actually heard anyone else besides Mr Bill Ackman bring up. Yeah, And it's one of the reasons why you need national level draconian measures taken in China. You know, a lot of people are, you know, doing light switch. Brain takes on China like we're gonna talk about China in the in the bonus in the bonus lap of the show. But people are taking this this sort of like absolutist brain, take a light switch. Brain take of like, china did draconian measure. Therefore China solve problem will. China didn't close its borders. China gave people lead time before they were going to shut it down. I'm not saying they did it on purpose because they're doing it here in the United States. You could make the argument whether or not it's the same incremental bullshit is actually leading to mawr problems. Whether that's on purpose or not, the fact of the matter is it has a definitive outcome that is not good. And you know this. You know China, China is possibly lying, potentially lying. I think they're lying about their numbers. But that's different than the criticism of China that that the United States government has been perpetrating via the CIA A and the Deep State and neoconservatives and their Shabbos, um, people on the distant right who have been, you know, funny enough defending Charlie Weinstein and now defending deep state positions on all of that as well. It's sort of funny how that works out, but the notion that that this can this penny ante incremental, um change change can sort of go on. It's It's not like the economy is a very complex system and each each bad set of news. You know, you pull seven million people out of the economy. That's not just the businesses that employed seven million people who are not making their money anymore. That's seven million people who don't have the money to spend on things like cars and mortgages. And it has. I think most people don't understand how these effects take shape, and if that happens slowly over time, what happens is thes businesses that depend on the revenue to survive at all start going down, and then that leads to more job loss. And that's pretty soon the whole system starts collapsing on itself, and I know people don't like that term, but the reality is that the system is very fragile and you can't at the same time argue that the system is strong and resilient and can last forever. When in reality, you know, it's like, Okay, then why didn't the Dow stop dropping at 25,000 right? And point to point to me, the people that are making trillions of dollars off of this No, they're not. You could make the argument that people are buying up stocks at lower prices. Sure, there's gonna be vulture capitalists who come in and do that, but those same vulture capitalists, like Bill Ackman himself. Mr. Herbalife, Short guy. Um, he is calling for a total shutdown of this. Wouldn't it be better for Ackman for this to go on for a long time so that he can he can take care of this? No, they want a complete total shutdown of everything in Ackman is also advocating by the way that all wages for employees get paid by the government. He's not even argue like this is a guy who's not even arguing for the bacon gay like rebate check that the Republicans and Democrats want to send to people. He's actually just saying, Pay everyone's wages. Please make this pain go away as quickly as possible because if you don't and you drag this out for a long period time, you're gonna end up in a lot of in a lot of, ah financial trouble and we could lose our capitalism is what what I read between the lines and what this guy's saying. So that's exactly how I read it, too. He's not looking at the U. S. As something that he is deeply invested in being a part of their viewing it. They're viewing their position as doing things to it in order to keep this thing running for longer. To keep this this Ah yeah, this economic construction they have set up running and profiting them for longer. That's what they're interested because because if it goes away like their whole, their whole stick goes up in smoke, just like it did in Germany 80 or 90 years ago. It's kind of funny when you look at when you overlay graphs better 90 years old from Germany and graphs Ah, that are five days old from the and say it's funny how that works. I know the thing. I know it's not exactly the same, but that's what these people are thinking in these dire economic straits. People start pointing fingers, you know, and part of the whole part of the whole game has been to keep in ever, never ending supply of product in digital dopamine hits flowing with people. And now all of a sudden, all of that is evaporating. And it's evaporating very, very quickly, right? And how many fingers were pointed, it knows, is as a result of 2008 and the ensuing nationalist sort of like car, you know, ah, cards falling down as a result of that. And if we have a crisis, even mawr a destructive, even larger and magnitude and that who knows? They certainly don't know. And this is why I mean, they're viewing. This is like a client state, right? This is how the US would would treat what that what they're how they're talking about the U. S. Is the same way the U. S. Would treat some insurrection in some client state somewhere or something that we just want to manage. They would shut it down and and not be concerned about, You know, like these. Ah, these fake concerns about Oh, you know, productivity. You know, people you know, our economy is going to suffer for it. Like if you're interested in in the long term survival of this entity, whatever this entity, maybe you have to embrace the pain of making the right decision for the long term. You cannot tease it out over a long period of time and allow things to fester like we are here. No, no, you can't. So here's more Bill Ackman Audio. This is I forget which clip this is. But the thes air short, these ones air the rest of them are short on these air. All like, ah, heightened state of ah, of this guy just starts to get very upset. We do this, We're just incrementally over time until there's a vaccine. Uh, we're done. Okay. And what will happen is the hotel industry and the restaurant industry will go bankrupt first. Boeing is on the brink. Okay. Boeing will not survive without a government bailout. Okay, So look, at airline industry, auto industry, restaurant industry, hotel industry. Um, you know, capitalism does not work in an 18 month struck down capitalism can work in a 30 day shutdown. We got do the 38 shutdown. And if the president has to bring out the National Guard to keep people in their homes, which I don't think he will need to dio he should do it. He added, a keeps going. Hold on that corporate America is in shutdown right now. Okay? It just doesn't know it yet or it knows yet, but no one. Okay, hotels, every hotel is gonna shut every one of them, OK? Except ones that have government workers in a particular location. For whatever reason, that's in that they're all gonna shut. Okay, Every airlines will stop flying. Okay? On airline without revenues. Okay, it's toast. Okay. And you can bridge the airline for, you know, a short appear to time. Okay, But you can't Bridget for years, okay? At the airline industry goes bankrupt, the hotel industry goes bankrupt, the restaurant industry goes bankrupt. And by the way, private equity goes bankrupt. Okay? Blackstone's a fabulous private equity firm. Cakey are they do a tremendous job, but every one of their companies has a lot of leverage. OK, everyone of their companies go bankrupt. If this thing rolls out over 18 months, anybody means by a lot of leverage is means that they're overleveraged means that they've already dipped into their credit lines. It means that they've already spent everything that they can and a lot of that has been on stock buybacks. I mean, a lot of it was irresponsible spending. It was not investing in the actual companies themselves. And you know this. This The same promises were made under the Obama administration that these bailouts, you know, the money could only be used to help American work. We've heard all the ship before, and it's never worked out in that way. And if it's any indication about how it's gonna work out this time, look what they've done with this quote unquote, you be I It's not you be, Iet's. It's universal bloviation on bond. I mean, that's what they've taught me. It's the same. It's the same old shit. So you want to hear the last clip or you want to react before I play that one. Let's go Let's go back to Bill for more. Okay, So this is the This is where he goes, like, full. Shut it down. He does it. It's great. Hell is coming. Okay? And I felt you really never had this experience before my life. The closest I had with financial crisis. Where I'm saying, you know, things are coming bad coming, but this was a feeling like I've never had. Like, there's a tsunami coming, right? The tsunami is coming and you feel it in the air, right? The tide starts to roll out, okay. And on the beach, people are playing and having fun, like there's nothing going on. And that is the feeling I've had for the last two months. Okay? And my colleagues at work, okay. Thought it was a lunatic. Okay, A lunatic. Okay. I did stuff I've never done before. I've never had more than, like, 200 bucks in my wallet. Okay? I went to the bank and I took out a large amount of money in cash Because of this concern, I made preparations this a month ago. Okay. More than a month ago. Again, that's all irrelevant. What happened the past? I just think the the bottom line is it's a really simple answer. I'm very confident the White House is considering it. But what's scaring the American people and corporate America is the gradual rollout. Okay of what's going on? We need to shut it down now. Shut it down now. Down now. Got it down now Shut it down Now, A miracle end as we know it. Okay, I'm sorry to say so. Okay, Unless we take this option, okay? And therefore I believe is a certainty in the very short term, okay, that the president's gonna go on TV is going to say, America, it's time to go on spring break at home and yeah, I mean, you could argue like if you want to argue that this guy is intentionally scaring the shit out of people in order to get them to sell all their stunk and then he's gonna buy it up. I mean, you could make that argument, but he's telling he wants the president to shut it all down like he's telling them to turn everything off. And he's calling for things that are pretty extreme. Not from our perspective, but calling for things like pay everybody's wages, bridge the gap for all these companies and do it for 30 days and make one uniform rule for everyone. I mean, it's a great policy if you want to stop the spread of the virus. It's also a great policy if you don't want the system that many of his co ethnics have been so invested in for the last 80 years, like he's speaking to them as much as he's speaking to the president and everybody else, which is that if you don't do something now and you don't stop this penny ante incrementalist bullshit like this is not going to work out for all of us would lose everything if you catch Yeah, yeah, we're gonna lose everything. It's it's not going to be something we rebound from within a decade like 08 waas Or like the eighties were, It's going to be fundamental and we're going to lose so much more. And it's also going to give way to people becoming ah, essentially out of control. Politically red with people have will lose total faith in the system once again, but more so than they did in 2008. So I think Yeah, you can question his motivations and and look to what? Maybe motivating him to make these prescriptions. But I don't disagree with anything that he's saying here. I think he's right on as faras potential solutions go. I agree with him for the wrong reasons. His reasons are because he he feels that the system is in danger to someone like him. Um, he, you know, he gives thes, You know, these thes anecdotes about his father and, you know, Children and all the seven There were very real and very emotional appeals. But, um, you know the idea that he cares about broad broad America, the broad American public. I mean, this suggests of people understand when he says the government should pay all wages until it reopens. He's not saying that we care. He he's saying it because he cares about people spending that money on other things. Now that's a healthy economy, right? Like people are spending the money that they're given to support the service economy that that has been foisted upon us. We don't have manufacturing. Um, but he supports that because if the government doesn't do that, the whole thing falls apart too. and the Republicans and Democrats with their shit show. Um, you know, negotiations on this rebate built, they're gonna learn the hard way, I think. But you have. You have It's not just Bill Ackman that's freaking out. Um, if you look around some of the steris that are out there, um, people, very wealthy people are unloading their art, like on the market, like they're dumping tons and tons of rare art because they're trying to liquidate. You know, things that they don't think are, you know, gonna help them through this. And they're also ah, potentially fleeing toe bunkers. James, right? I mean, this is something that we've seen is a phenomenon as well. Oh, yeah. The one exception to the suffering in the airline industry, where these passenger airlines are demanding bailouts, airlines that are demanding bailouts or these private jet airlines that are seeing record profits and soaring demand. There's a story this week about Martha's Vineyard being difficulty desolate this time of year. But several 1000 people landed in Nantucket alone, which I know to the much to the chagrin of some residents who live nearby the full time residents and commercial airlines taking a beating billions of dollars in losses, hundreds of thousands of cancellations. But ah, for Richard Zaher origin unknown. It's guys a CEO of a US based private jet line, he says. Business is booming and quote enquiries have gone through the roof. So that's where these people flying to write. I thought. Well, first of all, I thought the borders were closed and we shut it all down. What's going on? Who's paying 25,000? 35,000? Sometimes mawr to go to these remote destinations like Alaska, Hawaii, of South South Pacific, New Zealand. Are these people going? Why why aren't they locking arms and singing? Imagine in joining in the Great American Project, a rebound stronger than ever From from this new challenge we're facing well, some of them are flying to the typical hot spots. You would expect Chicago D. C. L. A. New York, Tel Aviv. But they're also going to places like Boise, Idaho, Butte, Montana and Casper, Wyoming. And you mentioned the B word. You start talking about bunkers and and I'm here to tell you folks, I have the documents and the elites were fleeing and you know it sounds a K a spooky A. But when you look at it thes elite survivalist compounds, they're legit. And they've been discussed in a multitude of elite four elite publications back to at least 2016. So they've been doing this for years, and some of that at the time was sort of like like, mid wit, me midwin upper middle class. Well, we may need to flee if Donald Trump turns us into a fascist country. But I mean, and there was some of that, but the core was much more future thinking than that. There's this company Rising s company. They build these high end elite bunkers In 2016 their sales grew 700% over 2015. There is a luxury shelter called Vivo X Point in the black hills of South Dakota, 575 military bunkers that can can house 5000 people that you know you need $200,000 to get in. If you want to be a part of that little community, there's the Survival Condo project, which is an old missile silo, so people are paying hundreds of thousands of dollars on the low end four rooms for four portions of these compounds far out so far away from any urban center, middle of Nevada, middle of Idaho. Um and you know, why Are so why are they doing this? Why? Why would they be doing this if they had faith that this system could last forever? Because that's the thing right there. Actual behaviour indicates how they feel about this. And so you will get people saying, Well, the fundamentals are strong, like the economy is great. Okay, well, then why are you investing a $1,000,000 in a bug out shelter and running away from this great society you're building for us? Doesn't really make sense, does it? Doesn't dress. No, it doesn't make a whole lot of sense. And And also, I mean, the idea that, well, it's just ah l o l restructuring. And they're just sitting at home profiting off of this while they laugh at you, digging around for the last pound of ground beef grocery store. It's like, Well, why Why would they Ah, why would they be? Why would they be fleeing now? Why would they be scattering all over the country and ah, you know, to their purchasing up large blocks of land in places that are in the middle of nowhere. Why would they do that? Because they they see that this is highly problematic. We didn't really see as much of this in 2008 did we? Um, that was that was more catching people by surprise. And there is an element of this where people are trying to escape the disease itself to. But this this, you know, this also has to do with the people potentially seeing that, you know, you see military trucks rolling around. It's like, Well, maybe it's a good idea to get away from where those are, especially if you're in, I don't know. In a nice condo in downtown Baltimore, in the Inner Harbor Might be time to get the fuck out of town. Yeah, and people were leaving now because of the virus, obviously being the catalytic event. But they've been making these preparations for years, and so it shows you they're not simply running away from the virus. They have been preparing for a long time because they understand this project. They're a part of the system. They are building this containment pen they're building for Americans to live in and spend money in and consume in and take out loans in its very unpopular. And they, you know, I don't want to say they knew this was coming. This specific event was coming, but they have to have known something was coming. Something was coming. 2008 made them very scared, right? And what had to be done as a result of a weight made the very scared. And and they understand that this project they've been a part of is not going to be popular with people. And that's why you have Ah, it's very interesting. There's this piece in The New Yorker from 2017 where they talked to some of these people that are Silicon Valley types and venture capitalist types that are making these preparations people like Steve Huffman of Reddit, who I believe is a goy. People like Antonio Garcia Martinez, a former Facebook product manager who bought five wooded acres on an island in the northwest, brought in generators, solar panels and thousands of rounds of ammunition. But they also talked to some of these. These people who not are are not preparing themselves but are analyzing this as a phenomenon. Talk to talk to this guy, Robert Dugger, who was a former lobbyist for the financial industry hedge fund manager type. And he says, People have two very different responses to this feeling of impending calamity. He says, Quote, people know the only real answer is fixed. The problem. It's the reason most of them give a lot of good money to good causes, quote unquote good causes. At the time, though, they invest in the mechanics of escape. He then went on to recall a dinner he had in New York after 9 11 Oh God, where, he said, quote a group of senti millionaires and a couple of billionaires were working through end of America scenarios and talking about what they would do. Most said they would fire up their planes and take their families toe Western ranches or homes in other countries. This is Ah, this is an exodus of self imposed exodus that they've been planning for years. They understood this thing could not go on forever and they wanted to get the heck out of Dodge before it all spun out of alignment. And it's very interesting it is, and I'm trying to see if Steve Huffman is's Jewish or not, but it seems like it. But possibly it was edited. Ah, can't really tell much, but maybe somebody, maybe somebody will point that out. So what about though? Those of us the many of us that can't simply fire up the Lear jet and whisk our families wait in New Zealand? How are we left to deal with the pandemic? Not ah, not flying away their helicopter More like if scrounging for the last roll of toilet paper at the Costco. Getting now stories as these honor system quarantines have been imposed across the country. People simply saying like L a. Well, yeah, I know I'm not gonna do that. And not only people who are at risk of being infected or people who are just going to the jobs people who are actually diagnosed who actually have Corona virus. There's a story from Kentucky about a guy who got tested. He was one of the one of the few, the few the proud get a test and then promptly checked himself out of the hospital against medical advice. And deputies have had to now surround his house under the direction of the Nelson County Sheriff Ramon Been Era, who says that they will stay parked outside the man's home for 24 hours a day in two weeks and that he's now cooperative. So yeah, I mean, and this is just the tip of the iceberg, isn't it, in terms of people engaging in in not only antisocial but outright dangerous behavior in response to this, we have now, and this is funny. We predicted this yet again. The confirmation bias. It's We predicted this two weeks ago that there would be a stigma began Teoh beginning to be attached to people who were a little bit too insistent about health and safety rules. Right? And sure enough, quarantine shaming. Calling out those not abiding by social distancing rules is part of a new and start only reality for Americans who must navigate a world of rapidly evolving social norms in the era of pandemic, people who aren't abiding by these health and safety recommendations are being stigmatized. Does this is This is a new evolution, perhaps in the oppression goes hand in hand with white supremacy. They talk to this guy, Steven Deal, who works at this warehouse in Chicago, one of the few who still has a warehouse job in Chicago who wears a mask to work because a family member has a compromised immune system, he's terrified of catching. The Corona virus has posted a sign at the warehouse entrance asking people to put on masks that were provided to protect his family. But several co workers didn't wear them, and one even coughed into his hand while standing at Deals desk and then touched the things on the desk with the same hand. The guy confronted him about it, and, uh, the other guy just shrugged it off like, Don't matter, I wonder. I wonder if there were, ah, to be a racial breakdown of characters involved in this story. I would love to know if if we have more of these authoritarian personalities starting to crop up, I mean, it does give people permission to be authoritarian about things. And certainly I'm sure Steve Deal actually has a family with, you know, some sort of high risk situation or what not, but it because you're expecting people in 21st century America to conform to rules and to think about people other than themselves. That's a tall order. That's a really tall order and Steve deal. And probably a lot of other people are finding out very quickly that most other people that they interact with don't give a fuck about them or their family or what might happen to somebody. They only give a shit about what they're going to be experiencing, what sort of, uh, up Coombs that they're going to be getting in the next five minutes from whatever it is, whether they can go out and, you know, claim someone's being racist on Facebook so that they can get like, 100 up boats and feel good about themselves. So they're saying, I mean, this is what people thrive on. This is what they live on. And so, you know, it's no surprise that people would see a sign on a door saying, Hey, you know, my family's at risk from this deadly virus and I would just appreciate you putting on a mask like 1\/3 of the people don't. It's like if they see what happens, they can't even read English. Yeah, there's even even really but this is. But I'm talking about the people who fucking can read English. That's the most aggravating thing about this is like these are people who have been in this country who have been born in this country who are just fucking pieces of shit. And I'm not even talking about them. Then you know, being white or whatever. They're just people who are who have become absolute egregious pieces of shit in this society. And I'm not gonna throw I'm not, you know, Mexicans aside, black society. No, there are other people who just and it's in many ways it's through no fault of their own. They just they're they're weak willed or whatever, like we've managed to break out of this. But no, these are just shitty people who have become even shittier overtime who do not give a give a fuck about Steve deals family. They don't care what happens to him and like you, this is what happens when you stop physical punishment when you don't have an authoritarian government, when you don't have people who are punished for doing things that are incorrect. And when you don't have a community that is socially cohesive and ethnically cohesive to keep people in line. Because Steve deal, if I were Steve deal, I mean in, you know, waving magic one in my world, I would I would see somebody without a mask. And, ah, who's a good who go full Tony Soprano like Like the guy at the bottom being who? Ah, who doesn't want to answer the phone correctly like I would just go out under the floor in front of everybody and take that phone and smash it against the fucking guys head until he got the message, right? It's like and that's over a phone. That's Tony Soprano. And of course, I'm talking totally in in ah, in just totally theoretical terms. But the reason why these people don't follow the rules is because they don't have anyone enforcing these things, and it's It's a microcosm. This story about Steve deal, it's a microcosm. People don't do this. It's like, you know, I don't know. I could go on and on and on and on about this, but everybody's experienced this. Everybody has experienced the selfishness off other people around you, and you know this. This leads actually to this this behaviour, this phenomenon actually leads to a lack of solidarity amongst whites, and so you'll see a white person doing something that is shitty that you don't like. You get angry at them, and thus you were disconnected from them at an ethnic level in Norm. Ease experience this all the time. It's maybe not even that person's fault. They don't know what else to do, right? Like they're given their given two choices, and they're both shitty choices. It just like the Republican Party in the Democratic Party. It's like these are your choices and people don't think outside of that box. And so you know, if your choice is either selfish option A or selfish Option B and people have been conditioned not to think about other people in their community, then you're going to get outcomes like this. And that's not the fault of those people. Yes, at a certain point, like you sort of have to Ah, you know, take care. You sort of have to be responsible for yourself, I suppose. But, um, yeah, no, it's it's Ah, this is this is just disgusting. And so yeah, I think quarantine shaming is great, because if this gives people permission to let that good old authoritarian personality inside of them come out, I'm all for it. And everybody has been inculcated since the 19 sixties in the US, with the idea that you are all that matters and your personal comfort, your personal pleasure, your personal wants and desires matter above all else. And they certainly supersede the concerns or health needs of other people, right? And so getting people who have been who've been brought up in that milieu and that has been every American with the exception of those who was supposed were parented away from it or came to see that for But, you know, failed failed societal organizational principle that it is, I mean, people getting these people to sacrifice personal comfort or what they want. For the sake of the greater public, it's gonna be impossible. And this is why you get people like the majority of people aboard the Grand Wizard Princess Cruise ship refusing to take the Corona virus test despite there being hundreds of cases on board the ship. Yeah, you know, uh, of the 300 people that ah you know, took the tests. We had 545 that refused, and these are people that are old that are going to go back and be around other old people and their go and again. We know this is not only for old people, but these are people who that are going to be around other high risk individuals. And they're so selfish that they can't even can't even lower themselves to take the Corona virus test just to know if they're a carrier or not. You have people like Evangelina Lily, who has apparently been in a few Bug Man movies, neither of which I've ever watched. Who she's an actress who goes out and tweets and posts about how she just dropped her kids off a gymnastics camps. They all wash their hands. They're playing and laughing, and I don't want to be. I don't want to feel like I'm trapped in martial law it by keeping my kids home. And then she doubles down and says, You know, we're being safe. Me and my two kids and my father, who has Stage four leukemia, who lives at our home world, being safe and keeping our hands while it's like E, it's yeah, you reach a point. Yeah, these are These are the people that think that there I'm a good person. I'm a good person who does good things. It's like, no, you. This is I mean, you could do you whole analysis on this And a lot of this is the, you know, the everybody's a winner mentality, right? Like everybody thinks that they're doing a good job. It's even, like manifested itself in the president. United States. Everybody knows I'm doing a pluses. I've done a very good job. I've done a It's like Please give me Please give me more affirmations. I need affirmations to survive. It's like Jesus Christ. It's like, Look, I, I like up comes but I don't like I'm not gonna turn into a a Ah, like a heroin addict who's becoming dope sick without them. And that's what these people we'll do. And she thinks so. I'm doing a good job and I'm being safe, and I'm doing all these things. It's like because you have no capacity to actually look at yourself in the mirror and think critically, Number one and think critically about yourself. Number two is like the hardest thing. It's like the double compounded nature of it. They can't think critically, and they can't think critically about themselves and therefore they continue this stuff, It's like, Yeah, no, it's not gonna work. And this is what this is what people. Ah, this is why you see widespread. Um, you know, people just not not doing whatever the not doing anything right. And we said, Well, you probably know people like this. You almost certainly know people like this. Maybe it's a friend. Maybe it's or your baby boomer parents and every outlet. This week, every media outlet had some spin on the how to convince your baby boomer parents to take Corona virus. Seriously. Article that came out this week. But I didn't read a single one, and I read many of these. I didn't read a single one that approach this topic with the goal of saving the boomer parents from themselves. Excuse me. That took it from the opposite tack. Every single one was thinking about How do you save these people from themselves? Not a single article focused on how do you deal with the fallout of people who just refuse, who know everything right, who have all the information who are up to date and who have the means to self quarantine but simply refuse and who are going to introduce diseases potentially. We're going to be disease vectors for you and your families to be infected. And look, I mean, there's only so much you can do, right? And this is something heavy that are no ways on many people out there listening if you have parents, for example, that are refusing to abide by quarantines, refusing to stock up on food and insisting on going out twice a day to work into the shopping moral malls and markets and whatever. But there's only so much you can do only so many times. You can offer to help before you simply have to accept that there things you can't change. And in terms of like spreading politics and convincing people of your politics, that could be fun. Right, finding yourself in new, challenging situations where you have to argue for your positions to people. But it's a lot less fun when you're arguing to get people to believe you over something like this, about their own personal safety and about your family safety. So you know, you just have to approach these things with the realization that people are going to make bad decisions and then, using that knowledge, mitigate the risk for you and your family. And part of that mitigation means don't bringing people around you who might be infected. And it also means don't going to the beach on Florida on spring break in Florida, Unlike a many people, young people are choosing to dio yeah, and that you have, like Rhonda Santis, You know who's a who's a ah accolade of the president. He's the governor of Florida. He has decided not to close the beaches. And of course, you know, they decided not to shut down Mardi Gras either. And you know, look, let's look at the map now, two weeks after Mardi Gras, 14 day incubation period and all of a sudden New Orleans is a bunch of, ah, blow up in cases. And of course, those people see to the virus and then spread it all over the place. I think I mentioned earlier in the show 15 people on Ah Yarbrough. Cynara staff now have Corona virus. Yes, I did say that earlier, but but it's just illustrating the point and like how this how these things happen very slowly, like over a period of time, I mean, CPAC was two weeks ago and then all of a sudden you're starting to see even more and more that while more than two weeks ago. But you're starting to see this crop up more and more. But in Florida, all these students air out on spring break. So all those videos and all the audio I'm gonna play a little bit here that you saw in this past week. Well, you're gonna have to wait around until, Ah, I don't know. April 1st April 2nd April 3rd. And then you're just going to see this thing? Blow the fuck up. I hope it doesn't happen. I hope that's not the case. I hope we see the miraculous recovery that China has somehow experienced. We're not seeing that in Italy. You're not seeing that in Spain. And you're certainly not seeing that in the United States. But here are Ah, some YOLO spring breakers down in Florida. These people, it's just like, you know, nothing of value was lost. Get Corona. I get Corona at then. Today I'm not going to stop me from party. I've been waiting. We've been waiting for Miami spring break for a while about two months of this trip playing to three months. Where's out having a good time? Whatever happens, happens like it's really messing with my spring break. What is there to do here other than go to the bars or the beach? They're closing all of it. It's really messy, but I think they're blowing it way out of proportion and think it's doing wait so bad. We need a refund. There's Marseille. Ain't that serious? Syria is more serious things out there like hunger and poverty. We need to address that. Yeah. I mean, we put in this a long time ago. It was kind of up in the air, so go. But like we're here, I just turned 21 this year, so I'm here to party, so it's kind of disappointing, but we're just making the most of it. We met these other people in our little of you. So we're just hanging out with them and trying toe get drunk before everything closes meat subs. But we're gonna make the best way enjoying it. And I'm from New Orleans. So this really sums. However, we're gonna enjoy ourselves. We haven't deported Outing. It is my birthday, Sam Patrick Word is trying to roll with Boy, we're just living for the moment. Where does going for what is going to do? What happens when it happens when stuff closes? We're gonna do when it closes. But besides that, we're just trying to have the best chip we can. Yeah. I mean, you wonder if the zombie apocalypse could ever become a real thing. I mean, these people are are walking, talking dead. They're just empty, empty vessels. Yeah. I mean, it's just there's nothing there. And I hate to say it because you know that these thes people, under other circumstances, uh, had a lot more potential. Not not the not the big fat black woman or the black guy, but but some of them had a lot more potential. I mean, this is, you know, this is the wigger phenomenon. I think with the first guy that was Bagach Road, I get Corona. I mean, just the hat turned sideways and everything just like total joke. I mean, it's like the Negro fication of ah, whites in America. And then, of course, you had the the the blossoming box wine, and they're like we met people at our Airbnb just like Jesus Christ. But these people like, if it were contained just to them, I would just be like, All right, whatever. I don't give a fuck. There's I mean, yeah, I'd like to save these people, but some of them are not capable of being saved. It's gonna be a multigenerational struggle to get things back on track, but, uh, these people are going to possibly get infected down there, and then they're all going to be flying back. If they're college isn't closed, that means they're flying home and they'll probably end up getting their parents sick or dead. And the thing is just going to continue spreading further. And the fact that Rhonda Santis again accolade of the president guy that has been carrying on with the Kushner plan of, like, you know, just protect the markets and pretend at least for weeks and weeks that this is just the flu, bro. It's like the conservative pundits were doing. Um, you know, it's like you guys Thistle's kind of a dangerous combination. You're spreading this all over the place. More people are gonna die. They actually made it a lot worse. And I think You know, it feels like nobody's noticing this stuff except for us right now. Um, by us, I mean, the large are thing people in our thing or noticing this, But I think there's going to be People are gonna look back on this and realize, especially in the aftermath, just like people in Italy are going to do the postmortem on how this happened and what they could have done differently. And I think a lot of these people who refuse to shut things down are gonna catch a lot of heat. And it's gonna fall on Republicans. Really? Because they were the ones who were doing just the flu, bro. Um, from the very beginning. So if this is in the long run, this is not gonna be not gonna be a happy ending for people but you. Ready? Oh, you ready to kick the free fags? Yeah. Kick the free fags down the old dusty trail and make make things comfy for the pay. Chad's for our three. Yeah, I was going to say we could've shutting it down. Not behind a paywall. This is where it shuts down you. If you want to find that third our audio is going to be on the site. Obviously confined it there. Yeah, the way the work is your RSS feed will populate in the way that normally does on the Sunday show for all the free fax. And then if you want to listen to our three or what will be I guess our four, um you would just go to the site and download the file, or it will also populate on the paywall um, RSS feed. So if you want to listen to the whole thing, you just download the extra bit of content and you got yourself a nice, big comfy ftn uh, while you're in honor code, uh, shelter in place. So anyway, um, anyway, free fags will catch you guys later and, uh, pay chats. We'll see on the other side of the break