35 Burst results for "Cullen"
The Charlie Kirk Show
Ed Reitz, World War 2 Veteran, Speaks Out
"Very special guest with us, Ed Wright's World War II veteran and has seen a lot Ed welcome to the program. Thank you. So Ed, tell us your story. Well, I began my life in Seattle, Washington. And the World War II came when I, when I was very young, and at 18, three days before 18, I joined the navy. The reason for that is my brother had already been drafted, and if he waited until you were 18, it was too late to do anything else, and you were whatever they wanted you to do, you did it. So I went and joined the navy instead. So my time was in the navy. So you've seen a lot over the last many decades. I sure have the the country used to be freer, I'm sure you could agree with that. Absolutely. Tell us about it. Tell us about what the America that used to get used to exist. Well. It's so totally different. And many, many ways. And much of this has come on in the last 15 years. I'll give you one example. I graduated from William Cullen Bryant, grade school, in Seattle, in 1939. And we had a school of about 900 people. And it was just absolutely common to have the nativity scene. We acted out the nativity scene of Jesus. And one of my classmates sang ovally night. Evolution was not taught. No evolution was taught in that school. I graduated from Roosevelt high school in 1943. As a school of about 2500. And again, evolution was not taught.
What Bitcoin Did
"cullen" Discussed on What Bitcoin Did
"It feels like it should, because they correlate. This is one thing and this is a point I often make to Bitcoin mainly Bitcoin maximalists who argue about the deflationary aspects of Bitcoin that to me money is actually mostly credit. So like in the United States, the money supply is mostly controlled by banks. So I could walk into a bank down the road and I can take out a loan and when that loan is created, that loan creates a deposit. And I can take that deposit, which was literally just created out of thin air by this bang. And I can go buy whatever I want with it. That's the dominant way in which money is created in the United States. And so it's not a, I wouldn't call it, it's not a decentralized system, but it is, it's fragmented in a way that the private sector banking system has a certain amount of control on the money supply that in my opinion is a good, a pretty good way of managing things relative to the alternative is having like the Federal Reserve be the only bank in the country. So you would literally go to a bureaucrat to get a loan if you wanted. And that gets a really messy process because obviously it's like highly politicized and whereas when you walk into JPMorgan as a shitty of a bank as JPMorgan might be, the guy on the other side of the loan processing desk there. He's looking at it from a pure money making perspective. It's a very market based money creating type of system, the loan creation process. And so, but the kicker with your question is that the majority of economic growth is a function of credit growth. So in the United States, the majority of money that exists is really just real estate based. People take out mortgages to buy homes to build homes. I mean, there's this really weird, strong argument that the U.S. economy in a lot of ways is basically just a big real estate market. And when the real estate market goes to shit, the whole economy goes to shit. But which we saw? Yeah, but the kicker with that is that when it's compared to or combined with the way the credit markets work, well, the majority of what's happening with the money supply and credit is mostly just people borrowing to buy and build homes. And so the money supply in a sense, it's kind of always expanding because credits always expanding because there's one of the nice things about having an elastic money supply. Elastic meaning that it can grow and contract is that if Peters got all the money in the.
AP News Radio
No. 5 Notre Dame beats Stanford 45-14, awaits playoff fate
"Notre Dame semi final hopes remain very much alive after Jack Cullen threw for two touchdowns and ran for another helping the C. F. P. number five fighting Irish hammer Stanford forty five fourteen Coney finished twenty six of thirty five for three hundred forty five yards with a one yard TD run in the third quarter the average carry twenty four nothing lead into halftime and blank the cardinal till cone threw an interception on the first drive of the third quarter setting up Austin Jones five yard scoring run the Irish have won seven straight since a loss to Cincinnati Stanford has dropped seven straight since an upset win of then number three Oregon I'm Dave Ferrie
AP News Radio
Stores kick off Black Friday but pandemic woes linger
"The nation's largest retail trade group predicts a double digit increase in holiday sales the national retail federation expects sales to increase both in store and online in November and December somewhere between twenty five and ten point five percent Catherine Cullen is the NRF senior director of industry and consumer insights she says after dealing with Colbert restrictions last year many people are anxious to return to the stores this holiday season people like shopping in stores for gas because it let them touch and feel a product key it in person Kelen says an estimated one hundred fifty eight million people plan to shop either in store or online over the thanksgiving weekend I'm Mike Hampton
AP News Radio
Holiday season moves into high gear but challenges remain
"Buoyed by solid hiring healthy pay gains in substantial savings shoppers are returning to stores in splurging industry experts expect record breaking sales this holiday season the national retail federation predicts an increase as much as ten and a half percent compared with last year senior director Catherine Cullen we're expecting you know and we've got a hundred and fifty eight knowing and shoppers adult your people who are already planning to shop Colin says many don't plan to wait until Friday a lot of retailers offered their deals across mobile channels across Europe E. commerce bank that while it's in stores and so there's a little less pressure for consumers to sort of lined up the way they may have in the past the big question with the supply shortages higher prices and staffing issues might leave shoppers disappointed I'm Ben Thomas
AP News Radio
No. 8 Irish ride Coan's arm, defense to 34-6 win over Navy
"Jetcoin completed twenty three of twenty nine passes for two hundred sixty nine yards and a touchdown as C. F. P. number ten Notre Dame something maybe thirty four six Cullen toss a seventy yard scoring pass to Kevin Austin late in the first half was covered too we ran the same play before and I knew that I was open play before so I was kind of like you know I'm open I'm open on the sideline coach guys yelling at him and so you know we were in the play again and obviously you know the results you know speaks for itself Karen Williams ran for ninety five yards and two TV's on seventeen carries helping the fighting Irish rack up four hundred thirty total yards maybe control the clock with thirty four and a half minutes of possession but the midshipmen completed just one pass for eighteen yards and rushed for one hundred sixty six yards I'm Dave very
AP News Radio
Heating up: World leaders take center stage at climate talks
"It's time for more than one hundred fifty de does to feel the heat they will trips to the podium that's crucial international climate talks in Scotland and talk about what their country is going to do about the threat of global warming from president Joe Biden to Seychelles president waldholtz Jonah Charles from Cullen Phil say how the nation will do its utmost challenge colleagues to do more and generally turn up the rhetoric British prime minister Boris Johnson is expected to say during the opening session humanity has long since run down the clock on climate change it's one minute to midnight and we need to act now and then the leaders will leave the idea is that they will do the big political give and take something out of the broad outlines of agreement and then have all the government officials how much out the nagging but crucial details I'm Charles de Ledesma
Travel with Rick Steves
Exploring the Inner Hebrides
"In some ways. The traditions of scotland survive most vividly in its islands off the west coast. These are the hebrides we've invited to of our favorite scottish guides into the studio to share stories and tips on their favorite islands. Liz listener is from fife. Cullen mirrors is from glasgow. And they're both here with us now to share a little better understanding of scotland's inner hebrides. Thanks for joining us. Thank you he cullen when you Think about the hebrides. We hear that word a lot hebrides. These are the islands off of the west scotland. But there's inner and outer hebrides. What's the story there. So and our hebrides. They're basically the ones that are closer to mainland scotland to hebrides further out. So probably most people going to visit islands of scotland and are of to access lists when you're thinking of the inner hebrides which ones are your favorites in which one's the most popular with tourists. Well open which is on the west coast of scotland is known as the charing cross of the islands as the saying the air unto the lord belongs and all the it contains except the kyle's in the western isles for these are all mic planes mcleans caledonian mcleans of the fatty company. So people will come to open. And that's the jumping off point to go to the islands. So open is the charing cross. Charing cross would be the big train station in london. Somewhere you depart go to different places so open would be the jumping off point. It's the big port on the mainland. From where the ferries go absolutely so. Kyle's what is kyle's kyle's of the stretches of water so the leyland's eye for the straight and on the missiles ago everything the lord's except for the aisles and the waters and that could make prince how the the the metrolink and forwards to the islands they caught passengers. The coty fleet the cardi tourists. So this is the ferry system caledonian mcbrayer because every time i think of an island scene. There's a dramatic ferry coming across. It is just beautiful thing. And you have the jumping off point in the real terminal Open and so people coming from moscow will die sleek connect with the on out so an answer to your question. Probably the most popular are the ones closest mull. Iona we can come back to 'cause i owned is really accessible as d. Are right for a particular reason
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"Up dot com. I would steer people towards if you haven't looked at it have tabs on those on both of those websites. And it's just i would have done is compiled cons of different links in articles that i've written over the course of of time in a lot of this is just. It's kind of my journey. Over the course of the last fifteen years of writing about all this stuff and frankly learning about a lot of stuff because i learned learned something new about the financial markets and the economy pretty much every single day which is part of what makes it so interesting and so those links are super helpful for people to just really start to build a foundation for understanding what is an extremely extremely big macro dynamics and the probable outcomes in building a framework that helps you kind of navigate all that so that you personally don't find yourself picking up pennies in front of a bulldozer or something so yeah those two places are probably the best place to start. You can also find me. I'm pretty active on twitter on love. Love to answer people's questions alp as much as i can. I know there's so much confusion. There's so much nonsense out there so much political bias in people who i think you know have very very biased perspective that tend to result in sort of these. Like hyper hyper. Extreme views in things and i tend to sort of try to zoom out and take more of A big picture perspective in consider all sides of an argument in so i can be found on twitter. My handle is cullen roach. Just one word love to to feel any questions. People have or or help. However i can't i don't have all the answers but i've spent a gross amount of time obsessing over all of this stuff to the detriment of many other aspects of my life that at least at this point i think i've I've learned a little bit. So i i love to spread the knowledge where cayenne when i can't learning a little bit calling the thing that's the. That's the understatement here. The year i mean it's always a wealth information and it's just always so great to have you on and and today to to come in and talk about masterclass truly in inflation really appreciate that and i'm sure the audience does.
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"You know what you have left when you sell a company is all of the real assets in everything that it's worth at a real level and so that's why the stock market is a wonderful inflation protector in the long term. I can't help but ask you calling with all this being said. How do you position yourself. It's getting harder and harder. I mean the obviously. I you know i own real estate. I own i own stocks and bonds. I think that you know it's interesting. People often ask me. Why own cash. In beyond in the quantities that i do in the i think people tend to have this hyper focus on purchasing power in generating growth in maybe on just a big impact but for me a lot of investing over an asset allocation over the long term is about creating predictability in and to me. That's the thing that's super interesting about. Cash and bonds in particular is that they provide you with a certain amount of principle protection that other asset classes just by definition don't commodities inequities in trend following strategies. And all this other stuff that we've been talking about real estate more so lately it can't provide you with the the principal predictability that things like cash and bonds. Do so you have to to me. Asset allocation is a it's a personal blending of the two biggest risks in the world which is purchasing power versus principal volatility in. You know it's a. I often call asset allocation a-. Temporal conundrum what i mean by that is that you have certain liabilities. Oftentimes that are fixed. Over certain periods of time that you have to be able to have acquitted for that that's why you know there's trillions of dollars of cash held in the world there's trillions of dollars of low yielding bonds in the main reason for that is that there is trillions of dollars daily of short term liabilities that people need to fund and people need daily monthly annual liquidity for these things and they need predictability for these things. And so when you when you look at it from a temporal perspective well. I like to think of the stock market. For instance is like thirty year. High yield bond if you were to own nothing but that thirty year high yield bond yield on average seven percent but it doesn't come close to actually generating that every year it some years. It does thirty five percents. Sometimes it does negative thirty five percents so there's periods where that if you think of the equity market like a long a long duration bon. Well that thing can provide you with a huge amount of principle volatility in the short term and that is a terrible way to manage your shorts from liabilities. You just can't do it. You need to koppelman with something else and so to me. It's just that It's very personal. Question in you have to measure for yourself what that asset allocation has to look like to meet your personal situation for me. I've kind of transitioned more so Part of my life where. I probably value principle protection more so than i do purchasing power protection but i also have a really unusual situation where i'm a business owner so i have the vast majority of my net worth for instance tied up in my company and so from a from inflation perspective. I would argue that. My corporation is by far my most important inflation hedge and so to me. I think that the more diversification you can build into all of this the better you are in the long run because you kind of can cover all of those bases in a more widely distributed way but personally if you asked me what are the most important inflation hedges going forward in the next twenty thirty years. I would argue for certain you want to be the owner of things meaning that to a large degree owning your own. Low streams is going to be the best inflation protection whether that's equities that are publicly traded..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"And what they end up ultimately doing with those barrels of oil so it is a corporation is really. It is a real entity i mean. You're you're basically buying to a larger degree. you're buying the real assets of that corporation. What those real assets are likely to be worth in the future and so that's why things like stocks they much more reflect the the real asset world than that just buying pure. Play like a commodity. Because you're getting an embedded inflation protection and that's you know kind of going back to my example of the house. One of the reasons that that houses ended up being at least fairly good inflation protectors over the long term is. Because when i for instance. When i bought my house is not the thing to the ground. But i was able to rebuild. I was able to reinvest in land..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"That. Yeah it's nice to have inflation protection when inflation is really high but really it's a lot more important in my mind to have just a very sustained inflation protection. I mean you don't think often of needing protection from two percent inflation. But the reality is that i think that those those boring inflationary environments are much more important to protect yourself against because they're just so much more likely to occur the likelihood of a of a y mar republic occurring in the united states. Or something like that or zimbabwe in my mind is just super low and so if you're going out lanning for some environment you're building your whole portfolio around something like that you're building your portfolio around a really low probability asymmetric that that yeah. It might have a huge potential upside but the likelihood of it actually coming to fruition is just not very high and so it's a lot more important to build your portfolio around the more likely outcomes. Which is that inflation yet. It's always gonna go up from the bottom left of that chart to the top right and you have to protect yourself from that. And that means that the risk of two and a half percent or three percent inflation is much higher. It has a much bigger impact on your overall quality of life than sitting around worrying about a y mar republic or zimbabwe and so equity market as a whole has been a fantastic way to protect yourself in generate a real return regardless of whether or not there was ever going to be a hyperinflation and so from from a pure purchasing power protection perspective stocks as a whole are are a wonderful way to protect yourself from inflation and so you've gotta get really comprehensive about it but from just a very boring macro perspective thinking of stocks is the as continual purchasing power protector. Is i think a useful mental model a good framework to start with when you're considering you're purchasing power protection. Let's talk a bit more about did beaver practical about it. Because it's often that we should invest in real assets and not financial assets in time of inflation and so you'll real assets that could be precious metals commodities real estate land equipment that resources and to some people including myself some of that can sound quite intimidating because you want to have the actual physical assets. Do you want to store gold known home. What you do with.
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"On the exact equity factors that perform really well and they go into sector factors as well so they find for instance that consumer durables are just about the worst thing you can possibly own in high inflation environment. They finding that energy stocks and commodities are extremely extremely good. And so you have to get more granular. What i loved about this paper was that they didn't just study the equity factors. They studied all the different asset classes so they took a super zoomed out macro perspective and they found that like energy commodities are the top performing the top performing sector in a in a high inflation. They found that trend following does really well trained follow him. Commodities does really well industrial commodities industrial stocks. Obviously like gold and precious metals. You really well. But trend and momentum actually perform really well and this is especially interesting compared to the value factor because there have been so many studies in the last ten years to find that combining trend or momentum with values a really profitable long strategy because they both tend to exhibit sustained outperformance in the long term. And so and they kind of to to some degree. They tend to counterbalance each other to some degree so from a pure value perspective again. What's cool about this papers. That kinda does a deep dive into the exact factors that drive a lot of this. So yeah you know. It depends on on the specifics of the of the sector but i mean during high inflation yet. Exxon mobil has two or union pacific have to update their infrastructure but the commodity price increases in their underlying sector are so dramatic that they're able to pass on a huge amount of pricing power. Where they're able to the pass along those increased costs to their end consumers and so that's a lot of it whereas something like consumer durables they just don't have the same degree of pricing power and so this is really. It's really tricky. I mean from from a high inflation perspective. I actually even though i i say that you. As a general rule i tend to fall into sort of a market cap weighting boring sort of old school market cap weighting perspective. Where i think if you're trying to assess the risk of the market you generally are better off combining non correlated assets to the equity markets because finding the pockets of of specific risk protection within the equity market is just so so difficult to do. I mean for instance. People often ask me like you know instead of buying bonds these days. You just buy like defensive stocks. I say oh. You mean defensive. Stocks the ones that defensive stocks that fell fifty sixty percent in two thousand and eight like there was nothing defensive about defensive stocks in two thousand eight and so in my mind when you often find that stocks are stocks or stocks or stocks and all of these stocks tend to some degree reflect just huge amounts of principle risk. And so if you want really related protection from certain things you need to go outside of that asset class and in the case of inflation. I think that to a large degree and this is largely consistent with what the this paper concludes that you need to go into things like commodities or you need to go into completely on correllated strategies like trend following trend followers use predominantly. They're using derivatives and they're using commodity derivatives and so they're using things that are are really truly uncoordinated to the equity market itself but as a basic rule of thumb the stock market is a pretty fantastic inflation protector. People kind of going back to like all these boring periods of inflation..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"The rate of return that you're likely to be able to earn on that portfolio if you were to borrow the money and if you can lock in a fixed rate that you believe is on a risk adjusted basis a basically allows you to earn a superior risk adjusted return with by holding onto that cash in essence. Well then you shouldn't you should borrow. You should go out in. It's a good risk reward analysis that you know the the thing that makes real estate so tricky these days. Is that when you when you look at something like a thirty year mortgage i mean. Typically housing prices are pretty boring over long periods of time. So you can make a pretty good projection over very long periods of time. About what a what a house price is going to do when you get into these really funky environments where real estate prices go up twenty percent year over year and stuff like that. Well you've now introduced a whole different type of risk into all of your analysis where you can't just look at the the risk of of actually the mortgage versus all of the relative asset classes like stocks and bonds. You now to consider your ability to stomach the potential for say a twenty five percent decline in home prices. In what would that do to your balance sheet. And how would that play out over the course of a ten or twenty year period. In how would that impact your personal balance sheet as very sloppy general rule of thumb. You you wanna analyze what you're expected. Rate of return on on using the cash versus borrowing is. And if you're able if you're someone who has a a really good credit score and you're able to get a really good interest rate while on a relative basis. It can a lot of the times it can make a lot of sense to to be able to borrow because you're essentially able to to utilize your existing cash in a manner that allows you to earn a higher rate of return than you otherwise would and so what you end up with. Is you end up with basically a much higher..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"You don't earn interest in an environment like this on on a deposit because there is no risk so the risk is fully christ in its fully accounted for and so to me you know to to make a long winded answer really short. I do not think it's possible to to find these interest rate differentials and really benefit from them without making future inflation prediction. And that's the ultimately what this comes down to a country by country basis. You have to look at the interest rates as a measure of risk in some degree in. You know looking at like turkey for instance. Would i feel comfortable buying ten year or thirty year. Turkish bond just because it has a higher interest rate will absolutely not because the risk of hyperinflation in that sort of situation is just through the roof and so the the interest rate reflects a certain degree of risk in that in that. And i think that you know from this is a really interesting. Theoretical concept from a country perspective because the interest rate does to a large degree reflect the credit quality of that specific country. And i think that you're a lot of what you're seeing in. The developed world where interest rates are very low is really a reflection that inflation to a large degree is a reflection that demand for that money is so high that the perceived future credit risk is perceived as extremely extremely low and you know from a country perspective the interest rate and the inflation rate to a large degree which they tend to correlate to a large degree over long periods of time it reflects the the credit quality of that specific country. And you know so. We think of sovereign government says being risk free but the reality is that a ten percent yielding sovereign bond is really for all practical purposes. It's like a junk bond. It's a really junkie bond compared to something like a ten year treasury which in today's environment even though it's yielding one point three percent the reason the that's like that is it's not just the fed to a large degree..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
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We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"Of the inflation just comes down to this basic supply demand dynamic where we did for all practical purposes print a ton of money coming out of the financial or the pandemic enduring the pandemic and you have just unprecedented demand for all this stuff now and compared to the rest of the world. The numbers just aren't really that comparable i mean. The the eu did put together surprisingly fiscal package. It was amazing that they even got any fiscal package. Coming out of two thousand and eight. I'm sure you remember. They were austerity. Was the name of the game and so it was amazing that they even put together a fiscal package at all but united states. I think was was very very proactive. I think the the the one thing. That policymakers seemed to have learned is that and this is the big bazooka with a lot of inflation. Discussions is that the federal reserve is not as powerful as you think it is and you know they increase their balance sheet trillions of dollars coming out of the financial crisis and they they implemented all these lending programs and they supported the banks that have all the bailouts all this stuff and we got barely sustained one and a half percent inflation from all of this and that was the big lesson of the financial crisis was that the central bank and this is not to imply that central banks aren't extremely powerful. But i think we tend to have this view that the central bank is the money printing entity in that the the central bank has the big bazooka. And i think what we've kind of learned in the post cova period is that it's actually the treasury's that have the big bazookas in the a lot of what the central banks do. And i discussed this in a lot of my papers on. The operational dynamics of things like the monetary system quantitative easing that the central bank to a large degree is a secondary actor in all of this. That the real money printing. If you wanna call it that is done by the treasury and you know so to use a concrete example when the treasury runs a deficit meaning that they spend more than they actually take in tax revenue end up having to borrow. You could call those bonds. They're printed from thin air. they're completely net financial assets. They are if the fed was to fire. The governor was to finance. they're spending by by dumping cash on the ground. For instance rather than dumping bonds on the public sector or the private sector they would literally be printing cash they would literally be printing money and so of course. We don't do that. In modern era we we finance spending by printing bonds basically but those bonds are net financial assets and what the federal reserve does to a large degree. Is they come in after the fact and when they implement something like quantitative easing. They're just changing the quantity of the finer. The the composition of the financial assets that the private sector. Then hold so..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"It's just completely completely different than it was forty years ago and so a lot of that makes it so hard to to quantify in the they tried to do a good job with what they call. Donald adjustments in. I mean frankly it's just it's impossible to quantify the difference. I mean how do you measure the difference in the quality of of modern pain versus paint. That was made thirty forty years ago. I mean how can you put a number on something like that. It's just it's so subjective to some degree in the bill tries to do a good job of it it's just ends up being a super imperfect measure because frankly it's also subjected so yeah. It's it's interesting mainly because the going coming back to the real estate market is just housing. Stole complex so many great big factor that work into it that it makes it very very difficult to imagine that a lot of the current trends are going to change anytime soon. Let's him out a little here. We see in the news. You know we obviously the. Us inflation numbers are very prevalent..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
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We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"Otherwise would and i suspect that that some of these underlying factors are not going to be so transitory. They're not. We're not gonna see kind of going back to what i was talking about earlier. I do not think we're going to see anything. Like the nineteen seventy s. This isn't really a bad environment. That's ripe for like stagflation. Something like that. Which was i mean. The seventies were really more so oil crisis than anything else. But i don't think we're in an environment where we're likely to see very high sustained to save ten percent inflation or something like that just because i think the secular headwinds are. They're so big. There's so much different this time around where you don't have. You have not necessarily a japanese type. A demographic issue in the development. But it's it's much more similar to japan than it is say like a baby boom situation or something like that where the population is growing pretty significantly in meaningfully but in addition you have all these other factors like the technological factor the globalization factor is. One of the biggest. I mean you could argue that. The world has never had so much accessible. Cheap labor in its existence and globalization puts a huge secular downward trend on inflation. And so a lot of these big macro trends. I think they don't necessarily put a A ceiling on inflation. But they make it very very difficult. For especially for policymakers to create a lot of inflation. And i think that the thing that is most interesting about the last eighteen months that you had this big huge policy response. I mean the. It wasn't really the fed so much it was mostly the us treasury. I would argue. That really caused a lot of the inflation because the government the treasury spent some treasury spent six and a half trillion dollars in the last twelve eighteen months. It's just the numbers are colossal. And so it's interesting because mainly going forward. Those numbers are not gonna continue. The we're likely to run trillion dollar deficits going forward. But we're not likely to run six and a half trillion dollars of spending year after year after year. And so you don't have the sustained fiscal tailwind that caused a lot of the inflation that we're experiencing right now and i think there's a lot of these things taper off. You are likely to see prices that look. The fed would call transitory. But that will end up. Probably not being as transitory as the fed. I think expects and so if you you end up with even inflation that's in the safe three and a half percent range by year end and let's say that that stains in the twenty twenty two. You could have a situation where the fed is getting pretty concerned about that sort of feedback loop where they start to worry about the snowball effect in essence of the of the price increases. Where you have something. That's a little more sustained. And so far from their target. I mean three and a half percent is is a pretty significant shift away from their target range of two percent that you could have easily rate increases. I think in twenty twenty two that starts to reflect the feds concerns about continued inflation. Let's take a quick break and hear from today sponsor..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"The big concern with any sort of inflation. Spiral is that it. It becomes sort of self reinforcing almost a snowball effect inside of it. And so you see this. In periods of very very high inflation where the way to think of this is basically that it's very similar to Like a decline in the stock market. Where people's emotions basically become the dominant driving factor in what is causing the price declines. And so you see this really panicky environments in an inflation is essentially a panicky price decline in the basically your purchasing power. And so what you'll see is the people's expectations end up driving this snowball effect where inflation can kinda get out of control in the federal reserve. And the government worried about this..
We Study Billionaires - The Investors Podcast
"cullen" Discussed on We Study Billionaires - The Investors Podcast
"You're listening to t. I p with episodes excited about we also have episodes. We even more excited to show the world and then we have episodes like these we call them. Roads the ticks all of us to another level. You can't find a horror financial topic than inflation here in two thousand two hundred one and you probably can't find a more misunderstood concept either ladies and gentlemen here are masterclass inflation with mr colin roach. Listening to the investors podcast. Well we study the financial markets and read the books that influenced self made billionaires the most. We keep you informed and prepared for the unexpected. Welcome to the podcast. I'm your host burleson. And today i'm here. We one of my good friends who also happens to be a fan favourite. and that is mr colin roach. Thank you for joining me. Our audience here today. Cullen thanks for having me on again calling. This episode is named masterclass inflation in a podcast feed so it might sound a little surprising that i would start with a this called a softball question but there is more to it than it seems so that kick this off by asking what is inflation and what is inflation. Not just joking that you could we do it entire podcast on justice as so. It's so controversial in en- really complex so from a really strict economic perspective. Inflation isn't overall upward movement in the price of goods and services and so the bureau of labor statistics in the us the l. ls measures this by basically quantifying consumer price index. The cpi and. You know there's a lot of different ways to measure this. The fed actually the various bed. Entities actually measure this in a very different way across the board some of them. Use the the p. c. e. some of them use the trim median price. There's all sorts of different measures of this but as a general rule what the bill is trying to do. Is they're trying to find an aggregated basket of consumer goods and services that roughly reflects what the median household consumes over the course of an average year. So you know getting into what inflation is not. It's probably important to cover. What i think is one of the biggest. Most misleading myths with inflation. Which is the idea that inflation is an increase in the money supply. And i'll tell you why. I don't find this to be a terribly useful definition because in the type of monetary system that we have we actually experience.
On The Mark Podcast
"cullen" Discussed on On The Mark Podcast
"What are we out there You know as it relates a thermal night vision. I guess good stories Called in amount line last year. That was a little scary around with it. And they're on. I mean. I pretty sure i walked on water to get that trust gone and so i sit out there on the corner of this hog barn. I'm in law. Quarter this hog barn. Cullen into field had a couple dogs in. I hear this kind of thing. Hit the ground. And i'm sitting myself. I mean like you know you're the dark and you know you're calling predators here things that probably would yet right. I'm like come on. And then i turn around and it's an in. There's a there's a street up cat and Yeah i remember. I looked at it and like there's no way that that cannot be a cat and you know it was. I mean it was still a hundred yards off. It was it was kind of a house. Cat gotta kinda like crawl at you a little bit. This thing was doing a little crawl doing that. I mean i packed up and was gone. so imagine. Imagine a house cat crawling toward you across your darkly living room except for your in a field out in the middle of nowhere at nighttime in. That cat is the size of a small bear. Remember.
The Autosport Podcast
Lewis Hamilton Takes Shocking Pole Ahead of Two Red Bull Drivers
"I'm arava bravo and today. Alex cullen orcas or two sports grand prix. Editor is here to chat about today's action. Alex what an exciting session. That was louis. Bano sounded quite surprised themselves that they had secured pole position going into qualifying today. Will you expecting him to take paul. I'll be honest. no. I don't think i was. I think the surprise you could hear in beaufort voice was absolutely genuine i. They know that they're in a real close fight with boone. There's going to be very very difficult to do with dominating. The don so easily over the previous years and yet actress did have a eat. You have a bad friday. Not he's obviously with the drive shaft pizza but certainly disrupted things. Says you're peres happening. Fb one now that videos now come out. It was just an unfortunate thing where eclipse as the consequence of the fact that the teams couldn't see what was happening in the timing will tv pictures so rip was really on the back for but still has the fastest car. I don't like definitely think this is a qualifying. That red bull lost rather than mercedes one. So yeah lewis. Hamilton was brilliant. Excellent job but he himself will admit that neither of his two laps were particularly a hundred percent. Perfect is what he said he needed to being said. If you can him about listen in the press conference he says if you put the t. laps together you would have not perfect but i think we still felt both of them. There was time on the table. And you could see that. And secondly didn't improve. Both of the rebel drivers made significant errors. And actually if stopping hooks. Everything up. He's clearly on head of hamilton. I think i think it's Budget they've a tenth of a second cy another another another time rep. Who is cost themselves when they've had the fox's car
List Envy
"cullen" Discussed on List Envy
"The i actually had said if any listeners cosmos's we have flight guests come on and We had a musician. Cullen an identity on his i i understand why like as the story line that happened so much and he was telling me how when you performing on stage as a musician you have this like. You're such a high in. You're in such a buzz. And then he come off stage and it's like you just like worrying flat life again and yep yeah exactly and maybe okay. So he wasn't like promoting or anything go condoning any of that stuff as like he could understand why a law of artists musicians go through. That which was yeah really interesting. Is it something or have Sympathy for identity knowledgeable but seeing comics and stuff you'll you'll see a comic And they'll they'll have this. You know they'll do that. Sat and then. Some of them are the kind of of comic show. Come out and make you know. Meet people in sign. Things that gregarious and charming all that stuff non. It's like fa most of them you know for the for the comics icy. You're not in the big stadium tours. That's playing the smaller small. Take back when thing they they they just gonna go to a travelodge you know. And it's just going to be them and you know maybe maybe the toll managers in a room next door. If they've got one that support act is maybe staying at all staying and even cheaper hotel and it's just like they do that gig and then they that that the life and soul and they are so much of the attention is focused on them for so long and then it's just like bam a now. You're in a travelodge on the breakfast tomorrow morning at. It's just like that must be so difficult that change because like even made like when upon events or done of of On events upon podcast festival was gonna stuff you do both Adrenaline is running stuff..
Science Friction
From wild idea to COVID vaccine meet the mRNA pioneer who could win a Nobel
"Renew and november. When the first cases started the pop up and wuhan china their description of the virus there description of how easily it was transmitted between families once. We heard that we knew that. This virus had the potential to be a bad actor at that moment in time we said. How are we going to get the sequence for this virus and we started calling our friends and china. We called our friends at the cdc trying to get the sequence of this virus the minute that was published. We started to make our vaccines back on. I think it was january twelfth. We started making the first aren a vaccine that day. It has all happened. Unfathomably fast has an at twelve months later and the pfizer and maduna vaccines have made their way through large clinical trials with good results into syringes and now already into millions of arms. But this quite a back story here. We thought that it would be useful in a pandemic. We thought it would be influenza pandemic but you back in two thousand and five. When we made the initial observation we knew that aren a had a great potential therapeutics. Who with his collaborator catala career. How is a good bit to win a nobel prize for the science driving. Mri vaccines. he's one of my guests on science fiction today. What's been lost in the fast pace race to develop covid nineteen vaccine. This past year is a hidden story of dogged. Pursuit of a nollie scientific idea over decades often in the face of skeptics and nice ideas we went through pharmaceuticals venture capitalists. All other people. it said. Hey we have a great new invention here. And they weren't interested. They said now aren as too hard to work with. We don't think it'll ever work and they just weren't interested now with a pandemic bang with suddenly counting on mri vaccines lock eyes and medina's to help save us. But before this pandemic this brand new technology of marigny vaccines had never been approved for use in humans before. It's incredible isn't it. The heddon even made it to the stage of large scale clinical trials in humans. I don't think anybody could have predicted. Just how effective these vaccines were. And i still get chills. When i remember the moment when that announcement was made a few months ago biologist onto fox is future fellow and associate professor at the university of western australia. It has proved the nice as wrong. I mean given that fifty percent effective is the baa that the world health organization would've liked to say as the minimum to be getting ninety. Five percent is just astounding really hardly any vaccines have that level of efficacy. Cullen pat and professor of pharmaceutical biology at monash pharmaceutical sciences. He's team is working on two different. Mri vaccines for covid. Nineteen in collaboration with the doughy institute in melbourne change from the point of view the future of emo toy syrupy and we haven't had a vaccine working against corona virus. Before i could understand the science. And i could see how theoretically it might work. But i just couldn't see how we could actually make enough to be the billions of doses needed for the world. And that's still looking doc- rod it's entirely contingent on just to pharmaceutical companies meeting. The world's entire supply demands including ours here in australia. Will you receive the pfizer vaccine together just before christmas. We did the vaccine driven by your discovery. Can you describe what that moment was like figuring. My family always yells at me. Because i'm not excited enough. And they're right for man who co owns the intellectual property licenses to medina and i dream osman humble kind of guy. We were incredibly excited. When we saw the results of the phase three trial that are vaccine. Worked and of a safe and had ninety. Five percent efficacy. I'm already moved on to the next thing the next back scene. The next gene therapy you. I'm incredibly excited. That this vaccine is working that it's gonna make a dent in this pandemic many think that there's a nobel prize in chemistry waiting in the wings for you and dr katie. Rico what do you make of that. So people tell the too modest. And i really don't do things for prizes or recognition or anything else.
Lifestyles Unlimited
8 injured after car crashes into a Fiesta Mart in Houston
"People are recovering from injuries sustained when an ash you ve smashed through the front plate glass window of the Fiesta Mart grocery store on Cullen Boulevard yesterday afternoon, Houston police commander Kevin D. Says it appears alcohol was involved so the driver was showing signs of impairment at sea. He has since been transported. They are conducting a full dealing investigation. Three o'clock in the afternoon on a Saturday and a busy grocery store. I can't tell you how fortunate we are. That we're not talking about much more severe injuries, you know, or even a fatality T have occurred. All of the victims are expected to recover.
AP News Radio
Cohen memoir casts him as 'star witness' against Trump
"Michael Cohen's tell all memoir scheduled to be released tomorrow makes the case that president trump is guilty of the same crimes that landed his former fixer in federal prison the book disloyal the true story of the former personal attorney to president Donald J. trump offers a blow by blow account of trump's alleged role in the scandal involving porn star stormy Daniels that once overshadowed his presidency the book also discusses other women within trump's orbit Cullen who pleaded guilty to campaign finance violations and other crimes including lying to Congress calls himself the star witness of a hush money conspiracy that could still culminating charges for trump after he leaves office he described his new book as a fundamental piece of evidence of the president's guilt the White House calls the book fan fiction Julie Walker New York
AP News Radio
Cohen memoir casts him as 'star witness' against Trump
"The Michael debate Cohen's over tell president all memoir Donald scheduled trump's to alleged be released comments tomorrow about makes the military the case that president continues trump is guilty of the same treasury crimes secretary that Steven landed Mnuchin his former fixer has been with in the president federal prison on many trips the book involving disloyal the the true military story of the former let me tell personal you I've never attorney seen to president a more supportive Donald J. president trump of offers the military a blow and by Ohio blow governor account Mike of trump's DeWine alleged feels the same role way in the scandal hello I've involving been with the president porn star stormy Daniels there's a been that once a discussion overshadowed about the military his presidency has been extremely the book also discusses respectful other women to wind within appeared trump's on orbit ABC's this Cullen week who along pleaded with guilty former to defense campaign secretary finance violations Chuck Hagel and other crimes these are not including on the sources lying but to Congress let's go back calls himself and look at the Mr star trump's witness words of himself a hush money coming conspiracy out of his own mouth that starting could still in twenty culminating sixteen was what charges he said about for John trump McCain after he and leaves what office he continued to say he described about McCain his new book showing as a out fundamental there Washington piece of evidence of the president's guilt the White House calls the book fan fiction Julie Walker New York
NPR's Business Story of the Day
A Confusing Back-To-School Season May Lead To Blockbuster Spending
"Back to school shopping is different this year what's the point of a new backpack when the walk to school is shuffled from the kitchen table to a desk in the bedroom? Though retailers are in a tailspin from the pandemic shutdowns. This year's uncertainty could bring them some good news. NPR's Alina Seljuk reports normally Lydia Rodriguez would have spent hundreds of dollars to get her daughter ready for the first day of class that's on her school uniform alone, and this year she's wearing top for zoom meetings. So she's just wearing last year's at barely fit but I don't feel like investing in other three hundred dollars on. Uniforms until she actually physically starts her daughter like many other students around the country started sixth grade without actually leaving their home in Tampa. So Rodriguez her spending felt really minimum but it's not like she could skip it altogether I did buy school supplies. You know like the notebooks and the folders, the pens and pencils binders, and all that, and here's a curious thing. The retail world is actually hoping for strong back to school spending the. Retail Trade Group, even predict record highs potentially topping a hundred billion dollars for school and college. That's because parents like Rodriguez might end up having to stock up for multiple scenarios. In case students learn person virtually were a bit of both which also means they're buying more big ticket items or seeing more families purchasing Electronics Katherine Cullen Senior Director The national retail. Federation. They've been tracking big changes to what's in demand backpacks in new shoes not. So much instead enter comfy home clothes and cleaning supplies and especially pricey electronics. This year's big sellers, laptops, tablets speakers, but they're also buying things that you might not expect maxium desks, lamps, headphones. So a lot of new items that were traditionally on the school shopping list, and so retail marketers had to get creative to keep people shopping in a year of mass layoffs and furloughs Amazon Walmart old navy embraced the oddity and disarray pandemic schooling. You've got your back school year whatever that. macy's did a montage of kids at home learning to build a robot or tend to garden even ace hardware got in on the pitch now that students have to bring masks and disinfectants to school why not stuck up for back to school at a home improvement store the biggest priority for this year was setting up their whole workspace Geisha. Washington did much of her spending back in the spring as both she and her daughter adjusted to working from their home in Chicago Washington set up her high school junior with A. Mounted Computer Monitor and a good sound system later installing new task lighting which morphed into her wanting task lighting plus t light patio hanging from the ceiling random led lighting. So she's also taken this opportunity to you know redecorate both Washington Androgynous Gez. Would have to buy more supplies if or when their children actually return to the classroom by one estimate families like there's still have about sixty percent of their back to school shopping left to do the question is when or how much of it will actually happen
The Voice of Healthcare
The Voice of Healthcare
"It's good to have you with us. We have a show that I've been really Jones in four. I somehow got lucky. and was reading online about really creative folks in the space of Covid. And came across. A group of people that created a skill called the hand wash. And I thought to myself. What is this and it was artists? It was creatives. It was musicians singing in a simple way in order for us to handle a hygienic me during the time of pandemic, which is handwashing something that believe it or not, a lot of people don't do very well at all so I've got three special guest today. Lane Harris Daniel Bremmer and Lucy Cullen Tori. They're gonNA. Talk to us about how they got started why they started it and where it's headed from here so me. Open it up to questions here. I'll start with lean and Daniel. Tell us about how this guy going where you decided to build it. And how did you end up? Incorporating musicians into this tool set that we could argue as a public health benefit more than a musical entertainment sort of enrichment benefit. Well, this this actually start is a shower thought. I had recently seen video that that demonstrated how detergent molecules physically break up the virus behind covid nineteen, and it made it really visceral seeing it seeing it like that and made me understand the whole twenty second. Recommendation from the CDC. Like okay. We all know we're supposed to wash. Our hands are washing your hands long probably should, but oh, this is probably like a speed limit where it's exaggerated in some some give room, but when I watched this I was like Oh. Wow, this is this is I see how this is important, and and as you know, take a shower with thinking about I'm like it's really hard to make people sit there and do something boring for twenty seconds when it got like twelve other things in their mind, especially during this time And what can we do about that? And I had heard about Of course, the alphabet saw on the thing. I heard people talking about like their favor taking their choruses, favorite pop songs and I was thinking what would be something that would be a little bit easier to do. Consistently and I thought well. We have all these the smart speakers in our homes and a lot of us have our bathrooms. Maybe there's something we can do there and that's what I started to think lane. The the I thought. I had in my mind before. I reached out to lane was like maybe this? This'll be like an internet variety show. It's a different. You know different things every time you open it like a magic box and we'll be like. Oh, it'll be a joke one day, a weird fact or a story or a song. And so yeah I, give a call the pretty much straight shower to see if he was interested. And we immediately started batting around ideas and He felt pretty strongly that it should be one thing and be consistent to provide the user with with Only one thing to to to expect, and we very quickly decided that it should be music and he knew Lucy and let him go to his side of it, but I think it was about a day and a half that we had a demo.
WBZ Afternoon News
Boston's Public Health Emergency will remain until further notice
"In Boston where major events are canceled through Labor Day mayor Marty Walsh stresses the virus mitigation efforts are working people need to keep it up and stay vigilant we pray paradise the health and security of all of our residents I want to see I. city bustling again I want to see people coming back and I want to see construction starting and I want to see our restaurants full I want to see our retail shops full I want to go to Fenway I want to go to Foxborough I want to go to the garden I want to do all the stuff that's been missing but we can't either the safety jump right back into it we're expecting more details on Monday from governor Baker on which businesses will be allowed to open first in the slow roll back of pandemic restrictions so many businesses are in a pension unsure whether they'll be allowed to open their doors soon or not WBZ's Kim Tunnicliffe spoke with the hair salon owner on the south shore who's working to ensure her shops ready to open its doors at a moment's notice Lee Cullen is hard at work at her hair salon a step beyond beauty in Quincy repainting the walls putting up shelves and deep cleaning the building Lee has masks face shields hand sanitizer and forehead thermometers ready to go and she's putting up a lot of covert related signs you must wear a mask and if anyone has an elevated temperature please be considerate of everyone else reschedule your appointment for another time Colin says she wants to be ready to hit the ground running if the governor announces Monday that hair salons can re open right away she admits it's a bit frustrating that the governor's been playing it so close to the vest until I hear what he says your guess is as good as mine and it's a little frustrating because people are asking me I don't know the answer either so that's why I'm just trying to get prepared as much as possible then deal with whatever he says on Monday until the cliffs WBZ Boston news
WBZ Afternoon News
Intelligence report warned of coronavirus crisis as early as November: Sources
"The nation's intelligence community might have tried to get in front of the corona virus pandemic several months before we really started to learn about this possibly November several sources telling ABC news tonight the military warned and uncontained virus was making its way through Wuhan China and those sources say the virus in that report vengefully was expected to put U. S. forces there in peril John Cullen is a contributor with ABC news he served in both the intelligence and homeland security department what should happen is once this intelligence was provided to the senior leadership of the National Security Council staff a the inter agency working group should have immediately been pulled together with front wheel including representatives from across the federal government a series of recommendations should have been provided to the president and the report was passed on to the White House late last year it also warned the virus can easily spread to other nations around the world including the U.
Latino Rebels Radio
This Is Nothing We've Ever Seen Before
"A little bit about Puerto Rico. What's the situation? What what is it different? Is it a worse response? Is it try to give me. Give me an example. I'm just curious in your opinion Looking at it observing it. I know you've made appearances on Puerto Rican radio. You're on like right before me. This is why I wanted to. This is why I wanted you on because I heard what you said. So what's what do we know about Puerto Rico compared to the the rest of the United States response will can you say and also tell me a little bit about how? Cnc PR is trying to help inform people. Sure I'll I'll start by telling you I just got off the phone with David back nuts from CBS. Where I was. He was interviewing meow. Some statements that I made are calling for the resignation of the EPI. The Mula you still wish I felt has been consistently actually in since Hurricane Maria. She's being consistently ignoring data and just making statements that are just patently false and I feel like are putting the lives of people in Puerto Rico in danger so I got involved in importers. Well I got very involved in Puerto. Rico were mentioning like on the radio. Because I felt that they were public officials. Were not taking the crise seriously enough. And they were ignoring the science behind a lot of you know the public health decisions that other countries were making their responsible to regard will define it early on a was all the deficiencies of the US loss. And the loss is that for example when the federal government responded very anemic to the crisis. The these many states here in Connecticut for example the state of Connecticut. I know that Washington State did the same thing. California Massachusetts even. They essentially mounted their own responses. And they started hacking detest developing their own testing. They're in the institutions that they had and just trying to figure it out on their own very quickly realized that the federal government was behind. You Border Rico. There's like these blind trust on the federal government that somehow fell go and was gonna fix for them or they had those. Kinda like there. Were all these underlying assumptions about the test the role of the federal government on the role of Puerto Rico. Right so the assumptions. Sometimes we're like we got to the stats here. The only people that can do is the federal government and you might remember the very first test that were centrally city. See The the government claimed that they could get bike. The resulting twenty four to forty eight hour took. It took a week after week when David back because he was not who started calling to ask for what was going on with the test because they're not responding to leave only health officials from Puerto. Rico in what? I have seen what I consider the want of Donald Trump coming down to Puerto Rico to paper towels. I don't I don't see the response the equivalent of that which was that after a week the CDC said look. We don't have the as yet but it's because the information that came samples Wilson correctly entered. And I'm like you're not societies. That is really. That's like somebody throwing paper towels in your face. Because I'm like it doesn't take your frigging week to get back to me. Domino's implant information wrong right in an epidemic. Where people's lives are like this is such such a low priority quickly. I mean really. Bother me as a scientist answer. Puerto Rican and I started advocating. We have the resources we have the knowledge to be able to run these tests in Puerto. Rico we cannot rely on a federal government that he's just like not not responding in an agile way. Also overwhelmed right right now with this this crisis so recently. More recently as recently as like Yesterday governor actually Called Task Force of experts. I I Looked at the names of the task. Force I the people that I respect a lot Doctors and other people. I'm I'm happy to see those developments. The governor also close down the country which is a huge sacrifice for people Puerto Rico. But I think it's necessary. Yeah the bar that I think he's mesones that. I was having this interview with David before I was telling you is that. There's still some officials in the inherent many strange on like these Ibm Ula state. That I you know. I think our confusing people I think are not using facts advising her properly and also I think that they need more deployment of still. They're recognizing that they need this. They're starting to take it more seriously. But you know this is a race against time these epidemic on CNN. We got the sensory. And do you think. Puerto Rico has the capability to test. I mean given its medical I mean I know from you know just in my family. I have four doctors. I think the medical community and Puerto Rico has always been a very scientific. I think a very Admired and respected community. Even though doctors are leaving the island it seems more and more. Do you think right now from your from your perspective good. Puerto Rico developed the test and not wait for the federal government a hundred percent and we thought doubt without question. I think that and I think that based on my roles as a scientist as a member of the Puerto Rico. Science Technology draws doesn't member of CNC Three which you mentioned earlier. I consider myself an expert in Puerto Rico Scientific capacity and I can tell you categorically the answer to that question is yes. I can't explain it in one minute. Essentially to run this task unit. Four ingredients you need first technical expertise meaning the knowledge the experts that can run these. That's where the Regal has that. Yes the second thing that you need that it's really hard to get is the machinery the very specialized machines that will allow you to run. This is cullen. Rtp CRDC's a procedure. Done I'm well familiarize because he's a procedure that we run in my laboratory here in new haven and I we don't run it for clinical purposes. We'd run it for research purposes. But he's essentially the same proceeding right and does Puerto Rico half the machines to be able to run these tests. Yes the third thing that is really hard to get is certifications certification from the Department of Healthy Puerto Rico certification from the CDC on. Your running cleaning doesn't need to be certified Rico laboratories that have the certification with machines. Yes so then. The fourth element which is actually ironically the simplest one. We should be ingredients for the reaction and the ingredients for. They didn't understand what the ingredients of the free reaction change race on the virus. Right you can use these same diagnostic ingredients for SICA as you can use for. Danga's you can use for coroner buyers so you need to have them yet. They need to be like specific ingredients. And those re- what we call the reagents. Those are the ones that people are missing there. And that is the role of the Department of Healthy. Puerto Rico supply and they say we see so. What I've been advocating for is starting to happen now. It just took longer than I was hoping for. But I've been advocating please. We have the capacity. Let's cut the red tape and get these ingredients out to people literally laboratories that run these tests so that we can increase scale and capacity for testing so last question. When when do you think there is any semblance of progress? I know that's a very open question. What what are signs at least for people in the public? That could at least begin to reassure them. That you know the social distancing and all these measures Have had a good effect. Or how can we begin to tell that I mean I'm not trying to put you on the spot but go ahead sit question? Look I I like to be forward with these things like I. I'm not GonNa make these into a combined moment. They says the the crisis of the center interception on them as I mentioned before we are broadly months away months away from seeing the light at the end of the tunnel is going to get worse before it gets better. Our healthcare system might get overwhelmed people. She'll stay home. They should wash their stay. She'll stay safe. I'm not I'm not an alarmist. I'm just being very frank with information that I do and I think that the way that we're going to know we are seeing progress is when we see a government we see government officials with a very serious face not playing politics starting to give numbers numbers based on on data on numbers that are not in the hundreds of thousands of the cases. We start seeing maps of where these cases are showing. What are the false I of infection? And that's what we're GONNA know okay. These people know what they're talking about. This is like if you if you have a major hurricane coming on you know. He's hurricane has devastated other places on you know it's coming to the east coast for example and like you know you you see progress when actually you see officials are taking seriously on planning for it and you don't see progress when you have somebody like kind of like a blame to they. Resi and trump was had a press conference just to blame the state of the healthcare system previous administrations. I mean what? It's time to get serious. This is not our blame it on you know. Go into the trap of blaming migrants. Now I can't believe that the second the second migrants blaming yeah my wife. My wife is Chinese American. Her family's chinese-american she's on MD and that community right now whether dealing with is all the like racism that has been associated with these fighters by people saying that he's the virus or designees virus as viruses had nationalities. And not only that. She has to endure dad and then she has to go to clinic. Put her life on the line to be able to save people in this country. So I it's it's it's
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Ikea recalls 820,000 chests due to tip-over risk to children
"More than eight hundred thousand ikea dressers are being recalled because they're at risk of tipping over and seriously injuring children ikea's Cullen three drawer chests imported after August twelfth of last year do not comply with the voluntary performance standards of the consumer product safety commission I kia says it has received six reports of tip overs involving those chests two of those reports involved mom minor injuries you have the option of seeking a full refund for my kia or getting wall a wall anchoring kids to use on the