18 Burst results for "Dating Committee"

"dating committee" Discussed on Word on Wednesday with John Mason

Word on Wednesday with John Mason

01:40 min | 8 months ago

"dating committee" Discussed on Word on Wednesday with John Mason

"Welcome to the world on wednesday january twenty seven. My name is john mason. Thank you for joining us. Words words words. Have you ever wondered about the power of words. Words are at the heart of special moments in our lives asking the girl. The guy out for date committee and marriage was saying yes to a job. Emily dickinson wrote this words. A would is dead when it is said some say i say it just begins to live that day. I'll be exploring more about the power of words shortly but first let me note that the word on wooden stairs a ministry in the anglican connection which is not just for anglicans..

"dating committee" Discussed on The Daily Beans

The Daily Beans

05:00 min | 1 year ago

"dating committee" Discussed on The Daily Beans

"I've already posited what I think we'll be in the speech. I'm sure we'll hear about another perhaps Putin call before he gives it. I'm sure we'll hear about it. From Russian state media source, not our own press. it will be a speech aimed directly at his white base to ease their sneaking suspicions that he's a racist and giving them a tiny crime of a reason to absolve their fake Christian hearts for knowingly voting for a racist. We will break that speech down for you if it happens as I'm assuming Mitch, and Lindsey or begging him to just keep his mouth shut. But you know he loves a spectacle. And Stephen Miller in his ear so. here's corona virus news we're up over one hundred twelve thousand deaths, and the Washington Post is reporting that because of our diligence. In some states with stay at home, order, social distancing and wearing masks. A study has found that we prevented sixty million corona virus infections in the United States. We did that that was us. Trump will take credit, but we did that. We did it in spite of trump's negligence in his failure to act so. I think. I think that's important to note. A separate study from epidemiologists at Imperial College. London estimated the shutdown saved about three point one million lives in eleven European countries, including five hundred thousand in the United Kingdom. And dropped infection rates by an average of eighty two percent, sufficient to drive the contagion well below epidemic levels. The two reports published simultaneously Monday in the journal Nature. US completely different methods to research or to reach very similar conclusions they suggest that the aggressive unprecedented shutdowns which caused massive economic disruption job loss were effective at halting the exponential spread of the novel coronavirus. the two reports on the effectiveness of the shutdown came with a clear warning that the pandemic, even if in retreat in some of the places hardest hit is far from over the overwhelming majority of people remains acceptable to the virus, only about three or four percent of people in the country's being studied have been infected to date. And Samir Bought Senior author of the Imperial College London study, he's he's cautioning us that we're just at the beginning of this epidemic, and we're nowhere near herd immunity. But the purpose of the study was to inform us what we got in exchange for sacrifices. Don't let trump take credit for that and from NPR. We are officially in a recession. may seem obvious with double digit employment and plunging economic output, but if there was any remaining doubt that the there is a recession. It's been removed by the official score keepers at the National Bureau of Economic Research, the bureau's business cycle dating committee said the expansion peaked in February after a record one hundred twenty eight months, and we've been sliding into a pandemic driven recession since then. NPR says in making the announcement. The committee pointed to the unprecedented magnitude of the decline in employment and production, and it's broad reach across the entire economy. At the same time, the committee noted the recession should be short-lived. The US added two point five million jobs last month after losing more than twenty, two million in March and April, many forecasters said they expect economic output to begin growing again in the third quarter. Q three. So that's. What January march June July August, September. Leading up to the election. The standard definition of a recession. Just so you know, is quote a decline in economic activity that lasts for more than a few months. The committee decided. This downturn is so severe. That earns the recessionary title even if the recovery begins quickly. From an official point of view, recessions end when the economic bleeding stops, even if that takes years for the to make a full recovery. So you could be out of a recession and still feel it's impact for years after. While the committee points February is the month the economy peaked, and the recession began the quarterly peak the end of last year the economy slowed so sharply in March as the government tried to halt the spread coronavirus. Sorry, our state governments, not the federal government. It erased the gains of January and February and turned economic output. For the first time for the first quarter negative, that's. The first quarter and Bill Barr refused to show up to testify to the House judiciary today. That's interesting. We'll be right back with L. Hoenig to discuss. The consequences question mark, so stay with us. Everybody in this tasty helping of the daily beans is brought to you by magic spoon at my new favorite thing on the planet. I was a kid. It was my favorite food, but as an adult I've had to give it up because cereals, full sugar, -An chemicals and weird stuff, but I am so excited to share with you. I found magic spoon, and it tastes so delicious the best thing I put my mouth, but without the sugar carbs guilt magic spoon brings me right back to that feeling of being a kid watching Saturday morning cartoons drinking cereal milk after I'm all done, it is so good you will not believe.

United States Trump NPR official National Bureau of Economic Re Putin Imperial College Imperial College London London Stephen Miller Washington Post Mitch United Kingdom L. Hoenig Samir Lindsey Bill Barr House judiciary
It's official: U.S. recession began in February

Rush Limbaugh

00:50 sec | 1 year ago

It's official: U.S. recession began in February

"Nothing really changes anything but those who officially declare recessions are declaring this one they are the business cycle dating committee of the national bureau of economic research it says the economic expansion the lasted a hundred and twenty eight months the longest one a record officially ground to a halt in February the committee usually waits a year before looking back and saying yeah that's when it started but considering the depth of this plunge was pretty obvious the committee isn't predicting when this recession will

National Bureau Of Economic Re
"dating committee" Discussed on The Nicole Sandler Show

The Nicole Sandler Show

03:30 min | 1 year ago

"dating committee" Discussed on The Nicole Sandler Show

"Action that we've been able to accomplish by working together so what we've seen in the past. Is that the meetings together in the work together? It doesn't just resulting reports and then nice talking points at actually results in progress, an actual policies that make people's lives better and make communities safer, so it's not to work together, and hopefully at this time where there's a lot of people in the country who are feeling different pain and feeling different concerns. Law Enforcement can be a leader and coming together and helping us work towards bring solutions that could bring this country for a new Washington. Post poll finds that Americans overwhelmingly support the nationwide protests that have taken place since the killing of George Floyd at the hands of police in Minneapolis, and they also say police forces have not done enough to ensure blacks or treated equally to whites, Donald Trump receiving negative marks for his handling of the protests with sixty one. One percent saying they disapprove thirty five percent, saying they approve much of the opposition to trump is vehement with forty seven percent of Americans saying they strongly disapprove of the way. The president has responded to the protests well for trump's great economy. The recession started before the pandemic everything down the National Bureau of Economic Research. Is Business Cycle Dating Committee announced Monday that the US economy and February slipped into a recession for the first time since two thousand nine. While some people try to paint the stay at home orders as less than productive. A new study published Monday in the Journal. Nature said that those orders prevented about sixty million infections across the United States and another two hundred and eighty, five million in China, a separate study from epidemiologists at Imperial College London, estimated that stay at home orders prevented about three point one million deaths in eleven, European countries and reduced infection rates by eighty two percent, but as US businesses reopened fourteen states recorded their highest ever seven day average of new cases at the start of June, the hardest hit states are Alaska Arizona Arkansas California Florida Kentucky new. Mexico North Carolina, membershipy Oregon South Carolina Tennessee Texas UTAH. And Puerto Rico also recorded its highest ever weekly average Florida alone has seen a forty six percent increase in cases over the last week. As of Tuesday morning, the US has reported over one million, nine, hundred sixty thousand cases of the corona virus and more than one hundred eleven thousand deaths as a result. And here's something that'll make those numbers rise even faster. The trump campaign is planning to resume holding their trademark rallies in the next two weeks as states push forward with reopenings and finally don't forget the best way to make an impact is at the ballot box. Tuesday is Primary Day in Georgia Nevada South Carolina West, Virginia and North. Dakota vote. and. That's just a bit of what's news for now on Nicole Sandler. If you appreciate these reports and the Nicole Sandler show I hope you'll consider making a contribution. My work is one hundred percent listener. And I can't do it without your help. Find out more at Nicole Sandler DOT com. Please click on that. Donate Button..

United States Donald Trump Nicole Sandler Imperial College London National Bureau of Economic Re George Floyd Georgia Nevada South Carolina Puerto Rico Cycle Dating Committee president Washington North Carolina Dakota Mexico Minneapolis Virginia Nature Alaska Florida
"dating committee" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:47 min | 1 year ago

"dating committee" Discussed on WBZ NewsRadio 1030

"There right in New York City covert nineteen restrictions are beginning to be east the city estimates up to four hundred thousand people will get back to work in construction manufacturing and retail they can offer in store and curbside pickup that CBS's mola lanky the covert nineteen death toll in the U. S. is now more than one hundred ten thousand we all knew the economy took a big hit now it's been confirmed here CBS business analyst Joel Sloss injure it's official February marked the end of the previous expansion and the beginning of the current recession that's according to the business cycle dating committee of the national bureau of economic research the committee determined that we reached a peak in economic activity early in February and then we went into a recession that didn't seem to bother investors on Wall Street the Dow Jones industrial average picked up more than four hundred points in Tuesday trading in Asia the Nikkei is down this is CBS news traffic and weather together the Subaru retailers of New England all wheel drive traffic on the threes twenty three and we're going to take a look north of town where on four ninety five south bound it's jammed up with two lanes closed and a two car crash at Boston road Westford crashes almost cleared now another lane has been reopened so still moving slowly but picking up momentum for ninety five north more delays in a set up at the ward hill connector one twenty eight flow in both directions in Danvers and two lanes taken at Endicott street ninety three south work crews in Salem New Hampshire cause delays as you enter into Methuen by route two thirteen and then farther south the leveling is taken by Montville have no delay their downtown ninety three southbound moving slowly three lanes taken Mr gab over this they come through the o'neill tunnel then exit twenty four to Callahan tunnel in government center is closed on the airport tells the Sumner is moving slowly with a leveling taken Ted Williams in bound and out bound right lane closed no real delay Tobin bridge outbound has two lanes closed in your under the speed limit and on the pike east and west in the prudential total doubling because it slows you down just a bit south of town expressway south bound to reducing speed with work crews between furnace brook parkway in the split on the northbound side in early July by Squantum street was due to debris that's been cleared so there is a works on there but it won't slow you down and rand off ninety three southbound ramp to route twenty four is closed twenty four north bound to ninety three south also close to the detour set up for you route three has work crews causing brief delays both ways by route one thirty ninth and south bound with the left lane taken from the Bergen parkway to Union Street and it out over a watch for work zone ninety five south right by route one west of the city the pike as work crews slowing you down west bound after the native service plaza and again after four ninety five in Westborough read.

New York City
"dating committee" Discussed on WHAS 840 AM

WHAS 840 AM

02:21 min | 1 year ago

"dating committee" Discussed on WHAS 840 AM

"Have an accident or Dixie traffic's not backed up almost back to southern parkway if you spot traffic problems call the tip line at four seven nine twenty three thirty six next report in fifteen minutes about Ellis newsradio eight forty WHAS we look ahead for tonight cloudy skies will be sticking around some scattered showers also remaining a possibility with temperatures cooling off into the upper sixties as we look ahead for your Thursday the rinse and repeat of a forecast continues partly to mostly cloudy skies expected scattered showers and storms a possibility throughout the day with warm and muggy highs in the low eighties and it rain chance will stick around into your Thursday night with lows back into the upper sixties a cold front arrives Friday bringing more rain and storm chances into your Friday afternoon much poorer and much more pleasant for the weekend with highs in the seventies retrofitted forecasts on WLKY meteorologist Chris Johnson yeah breaking news weather and traffic station this is news radio eight forty WHAS your new the death toll from the corona virus Kentucky has reached four hundred governor Beshear announcing six new desk today I never thought as governor I stand up and talk about losing four hundred people to the something that I and and we are battling the six people tonight include a ninety seven year old woman from Boone County the seventy nine year old man from Jefferson County seventy eight year old man from Hopkins county seventy one year old man from Boone County seventy seven year old man from Jefferson County and an eighty eight year old man from Oldham county three thousand one hundred twenty four Kentuckians have recovered from the virus and the Kentucky horse racing commission's race dates committee has approved Kaelin's request for a five day beat in July I'm Paul miles CBS news special report the number of coronavirus deaths in the U. S. has just surpassed one hundred thousand that horrific milestone reached in about three months speaker Nancy Pelosi just spoke at the U. S. capitol one hundred thousand people in about a hundred days I think that the Hundred Days think we just observe Memorial Day I think that the president's weekend would you have ever fought that will be observing one hundred thousand people it comes as all.

Kentucky Beshear Boone County Jefferson County Hopkins county Oldham county Kaelin Nancy Pelosi Hundred Days president Ellis WLKY Chris Johnson CBS
"dating committee" Discussed on WHAS 840 AM

WHAS 840 AM

02:51 min | 1 year ago

"dating committee" Discussed on WHAS 840 AM

"To police these alleged incidents happened while Neff was on duty and in uniform global metro police say the national exposure of the Brianna Taylor cases causing concern for officer safety will Clark reports chief Steve Conrad released a video to the force attained by our partners at W. okay why asking the officers to stay focused I ask you to stay focused on your job to protect and serve this community meet anger with compassion and professionalism sergeant Lamont Washington telling W. okay why is that the comment section on Facebook was full of things like all cops need to die and kill pigs Washington adding you can read about what you believe is right and wrong and not be by will Clark news radio wait forty WHAS the mayor of Minneapolis is calling for the arrest of the police officer seen in video with his needy on George Floyd snack I want to see a charge take place I want to see that justice for George Floyd mayor Jacob Frye said he's making the decision based on video evidence that showed the officer keeping his knees on Floyd's neck all four responding officers involved in Floyd's death have been fired a Kentucky representative accused of attending a rally involving an effigy of governor Beshear responds Haley Hanson reports the effigy was hung from a tree at the state capitol over the weekend state representatives of animatics a Republican was believed to have attended that rally something she says is not true medic says that while governor Beshear was disseminating his usual rhetoric she was trying to help the half million Kentucky is who are unemployed the Republican at that while she condemns the act of hatred this year's remarks quote deflect responsibility for the economic turmoil his actions have crafted Healy Hanson newsradio eight forty WHAS president trump is threatening to close down Twitter after the social media giant's fact checked some of his tweets trump took to Twitter in response saying big action will be coming though he did not elaborate Keeneland is a step closer to hosting a spectator free summer meet Paul miles reports all committee members in favor of approving the request submitted by Ellis entertainment LLC and Keeneland association income the Kentucky horse racing commission's race states committee approved came lands request for a five day meeting in July the Lexington track reached an agreement with Ellis park in Henderson which had previously been aborted the dates Caitlyn plans to host four chords of races each day of the meet including the blue grass stakes a Kentucky Derby prep race that would be run July eleventh the dates committee has sent its recommendation for approval to the full racing commission Paul miles newsradio eight forty WHAS Larry.

Twitter president WHAS Healy Hanson George Floyd Brianna Taylor Larry Kentucky Derby Caitlyn Henderson Ellis park Ellis entertainment LLC Paul miles Neff Kentucky governor Beshear Haley Hanson representative
"dating committee" Discussed on WHAS 840 AM

WHAS 840 AM

05:47 min | 1 year ago

"dating committee" Discussed on WHAS 840 AM

"To the Kentucky horse racing commission race dates committee for a five day summer meet that would be held July eighth to the twelfth without spectators they would follow current safety protocols Keelin says they'll share return to racing protocols governor Beshear's office and local health officials for their approvals they say they'll follow the procedures that are in place for the current meet at Churchill Downs and winded Frankfort where state health commissioner Dr Stephen static wants people to enjoy the holiday weekend with some precautions to get together and you celebrate each other and you celebrate the chance to join in groups of ten or less please these masks the space of more than six feet between each other and the hand hygiene and surface cleaning all of those things matter a great deal of those are the things we're going to have to do coupled with contact tracing which will continue to educate on in the weeks ahead your next news update is on thirty minutes I'm will Clark news radio eight forty WHAS well good morning sixty five now seven oh five welcome to the weekend warm and muggy a few storms possible high of eighty five welcome to Kentucky in the Saturday morning news Joe Jack minnow in the control room will Clark very deep in the Swachh gave as we get ready kick off this Memorial Day weekend a lot of live events unfortunately and we'll hear more about this coming up in sports no Indy five hundred Willie I know you're pretty close to this that looks like the community there in speedway is kind of going through what we went through here with the Kentucky Derby yes there they're they're kind of having race withdrawal numb they are not unlike the derby yeah and I guess in there some similarities doubt Churchill you know has the regular meet outside of derby week but they'll they'll have the potential to kind of get back in the groove they'll have an Indy car NASCAR weekend July fourth Mali as of now it's still on the calendar then they'll come back into the five hundred in August and then they got another Indy car race in the fall in October when states the third okay yeah I got the schedule they added that extra race this year just trying to make up for the indycar schedule just you know like every other major sporting organization just kinda went apart when this all went down so they're trying to build something back to salvage a season how that that hopefully maintains how big is that community in speedway does that not not been yet and it is on my bucket list because my son keeps asking because he's really get into Formula One now in slight Indy car how is that area around the track there in India is it does it sort of mirror the area around Churchill Downs kind the neighborhood feel yeah it it doesn't mean there's a bug in a lot of people do the parking in the yard thing and and there's a lot of similarities to kind of help what Churchill Downs is doing and trying to OB try to buy up the neighborhood expand parking lots that the speedway is done the same thing and you're not granted the Churchill Downs would fit inside the speedway about five times right right by the some of your talk a lot more people so a lot more parking lots but you know the same sort of concept makes sense okay well to be interesting to see how the how the Indy five hundred going to be perceived only we'll talk coming up here in sports we'll talk about some of the TV ratings that all the sports that have made their comeback have seen an apparently people are craving there live sports no doubt about it they want those back but on another note so the restaurants got back to got back to play it looks like so we've got some mixed reaction by folks heading out there are wonderful see more out there today because I know at least I was cutting the grass yesterday usually have people driving up and down through the neighborhood there were no cars they couldn't figure out if people were getting out of town or if they simply were just actually going out to eat but apparently from your reports people getting mixed reactions yeah it's it's a mixed bag there's going to be in the in the we've talked about this through the whole process it's going to be your own personal comfort level yeah yeah I personally you know if I walk into a place in it in the past is the proverbial smell test you know I could look around I see the safety precautions I I see the people are we are taking this seriously and be all the distancing all that's at the place that you don't know all belly up to the table and elite yeah now if it you know if I walk in some place in it you know that's things are a little more flippant than you know I'm I'm out yeah you know I'd said yesterday I was going to go to the gym last night ended up mowing so I think maybe tonight I'm gonna try to work out to work out yeah yeah everything yeah also you know that's I think you'll be all gyms in Indiana are open with restrictions I've read what they're doing I I feel fine with that it's just gonna be up each individual person is going to have to make their decision what they're comfortable with the ninety eight on the you're in a high risk category and all of those extenuating circumstances you got away that in there too but right I mean I I think that Indiana's plan at least on paper looks good I think it techies does too and I know that the sticking point in Kentucky's for everybody is the lack of pools that yelp are open in Indiana but that's that seems to be appointed governor bush years when asked about multiple times and there doesn't seem to be any movement in his opinion that it's going to be awhile if at all the summer before we get a pool all right well we'll see we'll see I know you can be with us this morning all through this morning giving us the latest that we need to hear on this Memorial Day weekend appreciate you getting up with us to as well but he will talk to top of the hour all right all right thank you will Clark working hard down in the squad's cave on a Saturday morning believe it or not and he's up giving a latest headlines here at newsradio eight forty W. H. A. S. let's get.

Keelin governor Beshear Kentucky
"dating committee" Discussed on KQED Radio

KQED Radio

07:45 min | 1 year ago

"dating committee" Discussed on KQED Radio

"In Los Angeles it is Wednesday the eighteenth of March it is always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here throughout the program and no it's not just stocks because that whole not the economy thing right but I am not talking just stocks here if you look around at the close today you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash well that's an indicator of how serious this is right okay oil as promised as we've been telling you often on the past couple weeks oil has been getting clobbered caught between a corona virus induced drop in demand at a price war between Russia and Saudi Arabia and in this oil squeeze one place likely to be hardest hit is Midland Texas population forty six thousand six hundred and eighteen a new report out from Brookings reminds us that Midland at West Texas is smack in the heart of the Permian basin this country's most critical oil patch benchmark West Texas intermediate crude is down around twenty dollars a barrel right now that's a level we haven't seen on a long basis since the nineteen seventies so market places got song reports now on life in West Texas as the economic storm comes life in the oil patch moves fast drill it sell it while prices are high in the bust comes just as fast West Texas native Christian Wallace hosts the podcast boomtown in says layoffs have already come into the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day the Permian basin has survived past checkouts but Wallace thinks this could resemble the crash of the eighties when six thousand oil companies went away amid a prolonged glut of oil we heard our grandparents talk about the bus but this is new to my generation and so yeah it's gonna be a wild ride bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work who's hiring now Texas oil and gas attorney John McFarland now we're also in the world of viruses and those people are going to have a hard time finding anything else today in the past the people of the Permian basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Crispin agile oilfield services in Odessa says in a bust some get creative through crime I just drive through town grab anything that's not locked down chain down generators you know smaller portable things and then they'll run it off to another city and park in downtown Midland bank sign tracks the price of crude and how many oil rigs are humming those numbers could stay down awhile I'm Scott Tong for marketplace the Senate passed the house coronavirus relief bill today that's the eight and a half billion dollar package the big one eight trillion or more is still in the negotiating stage but the messages that stimulus is coming it's just a question of when and for some it's a question of how the government's gonna pay for it they're going to borrow it is the answer unless maybe they don't have to marketplace's Sabri better shore reports now a small but growing call for the government to just you know bring the money out of thin air Sam gold is a photographer in New York where the city is all but on lockdown things are not going well I learned this year basically from today on I have completely canceled or postponed so I went from having a fully book calendar for March and April said now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like gold still has to pay rent still have to eat the treasury department wants to send thousand dollar checks to people I called Congress is working out aid packages for industries and small businesses this call easily cost a trillion dollars Larry Seidman professor at the university of Delaware says the treasury should send up even more checks of three thousand dollars and he says the fed should just print the money the federal reserve should be current events write a huge check to the treasury and the check will you're not alone it would be a branch of the treasury does not have to borrow and there would be no increase in our federal government debts but nothing is ever totally free even free money can smothers is professor at the Wharton school if he kept doing that will aid Nelly you're gonna cost inflation econ one a one to much money in the system prices go up when central banks do this it's called monetizing the debt by the way in fact when we see really high inflationary countries like Zimbabwe it all comes from then monetizing that that lets mentor says you're not really likely to get that kind of inflation and recession short term and he says it may well be worth some inflation in the long term to get people the help they need now in New York I'm Sabri vanished work for market place regular listeners to this program I recognize what's being was just talking about as modern monetary theory or real real close to it you can find the explainer on MMT that we did at market place dot O. R. G. the other thing you can do actually is sign up for our daily newsletter you get yourself the latest on this crazy fast moving story marketplace dot org slash newsletters is where you go for that there is a lot of news now we get that a lot of uncertainty a lot of questions about what is going on in this economy so send to us your questions I'm at kai result on Twitter there's a link on our website you can use as well here's today's first question hi this is Lola Franco from Briar cliff New York I didn't pay attention and economics for simple tens what's the difference between a recession and depression okay so first so first of all I with a high school in lower in Briar cliff New York I actually never took econ so if she did she said to me anyway disclosure on that but to the point look there have been PhD dissertations written on this topic and we've only got half an hour on this radio program but here the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the national bureau of economic research the textbook definition of a recession is and this is a quote from them a significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators of depression generally speaking is more severe is longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this the peak unemployment rate during the Great Recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties twenty four point nine percent so low that's the quick and dirty as I said on Wall Street today everybody was selling everything will have the details when we do the numbers we are going to get a report tomorrow morning that's going to give us our first real economic data peek into this thing something called initial claims for unemployment benefits it'll be for last week so there might be a little bit of a lag.

Los Angeles
"dating committee" Discussed on 90.3 KAZU

90.3 KAZU

07:44 min | 1 year ago

"dating committee" Discussed on 90.3 KAZU

"Los Angeles on car result it is Wednesday today the eighteenth of March it is always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here to stop the program and no it's not just stocks because that'll not the economy thing right but I am not talking just stocks here if you look around at the close today you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash well that's an indicator of how serious this is right okay oil as promised as we've been telling you often on the past couple weeks oil has been getting clobbered caught between a corona virus induced drop in demand at a price war between Russia and Saudi Arabia and in this oil squeeze one place likely to be hardest hit is Midland Texas population forty six thousand six hundred and eighteen a new report out from Brookings reminds us that Midland at West Texas is smack in the heart of the Permian basin this country's most critical oil patch request Texas intermediate crude is down around twenty dollars a barrel right now that's a level we haven't seen on a prolonged basis since the nineteen seventies so marketplaces Katong reports now on life in West Texas as the economic storm comes life in the oil patch moves fast drill it sell it while prices are high in the bust comes just as fast West Texas native Christian Wallace hosts the podcast boomtown in says layoffs have already come it's the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day the Permian basin has survived past checkouts but Wallace thinks this could resemble the crash of the eighties when six thousand oil companies went away amid a prolonged glut of oil we heard our grandparents talk about the bus but this is new to my generation and so yeah it's gonna be a wild ride bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work who's hiring now Texas oil and gas attorney John McFarland now we're also in the world of viruses and those people are gonna have a hard time finding anything else to do in the past the people of the Permian basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Chris spent agile oilfield services in Odessa says in a bust some get creative through crime I just drive through town grab anything that's not locked down a chain down generators you know smaller portable things and then they'll run it off to another city in park in downtown Midland bank sign tracks the price of crude and how many oil rigs are humming those numbers could stay down awhile I'm Scott Tong for marketplace the Senate passed the house coronavirus relief bill today that's the eight and a half billion dollar package the big one eight trillion or more is still in the negotiating stage but the messages that stimulus is coming it's just a question of when and for some it's a question of how the government's gonna pay for it they're going to borrow it is the answer unless maybe they don't have to marketplace's Sabri better shore reports now on a small but growing call for the government to just you know print the money out of thin air Sam gold is a photographer in New York where the city is all but on lockdown things are not going well Allen's this huge basically from today on I have completely canceled or postponed so I went from having a fully book calendar for March and April said now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like gold still has to pay rent still have to eat the treasury department wants to send thousand dollar checks to people I called Congress is working out aid packages for industries and small businesses this call easily cost a trillion dollars Larry Seidman professor at the university of Delaware says the treasury should send up even more checks of three thousand dollars and he says the fed should just print the money the federal reserve should be permitted right she checked the treasury and the check well you're not alone it would be a branch so the treasury does not have to borrow and there would be no increase in our federal government debts but nothing is ever totally free even free money Kent's matters is professor at the Wharton school if he kept doing that will aid Nelly you're gonna cost inflation econ one a one to much money in the system prices go up when central banks do this it's called monetizing the debt by the way in fact when we see really high inflationary countries like Zimbabwe it all comes from then monetizing that that lets mentor says you're not really likely to get that kind of inflation and recession short term and he says it may well be worth some inflation in the long term to get people the help they need now in New York I'm Sabri Banna short for market place regular listeners to this program I recognize what's being was just talking about as modern monetary theory or real real close to it you can find the explainer on MMT that we did at market place dot O. R. G. the other thing you can do actually is sign up for our daily newsletter you get yourself the latest on this crazy fast moving story marketplace dot org slash newsletters is where you go for that there is a lot of news now we get that a lot of uncertainty a lot of questions about what is going on in this economy so send to us your questions I'm at kai result on Twitter there's a link on our website you can use as well here's today's first question hi this is Lola Franco from Briar cliff New York I didn't pay attention and economics for simple tens what's the difference between a recession and depression okay so first so first of all I with the high school in lower in Briar cliff New York I actually never took a gun so if she did she said to me anyway disclosure on that but to the point look there have been PhD dissertations written on this topic and we've only got half an hour on this radio program but here the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the national bureau of economic research the textbook definition of a recession is and this is a quote from them a significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators of depression generally speaking is more severe it's longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this the peak unemployment rate during the Great Recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties twenty four point nine percent so low that's the quick and dirty as I said on Wall Street today everybody was selling everything will have the details when we do the numbers we are going to get a report tomorrow morning that's going to give us our first real economic data peek into this thing something called initial claims for unemployment benefits it'll be for last week so there might be a little bit of.

Los Angeles
"dating committee" Discussed on KQED Radio

KQED Radio

07:46 min | 1 year ago

"dating committee" Discussed on KQED Radio

"Angeles on car result it is Wednesday today the eighteenth of March it is always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here throughout the program and no it's not just stocks because that whole not the economy thing right but I am not talking just stocks here if you look around at the close today you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash well that's an indicator of how serious this is right okay oil as promised as we've been telling you often on the past couple weeks oil has been getting clobbered caught between a corona virus induced drop in demand at a price war between Russia and Saudi Arabia and in this oil squeeze one place likely to be hardest hit is Midland Texas population forty six thousand six hundred and eighteen a new report out from Brookings reminds us that Midland at West Texas is smack in the heart of the Permian basin this country's most critical oil patch benchmark West Texas intermediate crude is down around twenty dollars a barrel right now that's a level we haven't seen on a long basis since the nineteen seventies so marketplaces Katong reports now on life in West Texas as the economic storm comes life in the oil patch moves fast drill it sell it while prices are high in the bust comes just as fast West Texas native Christian Wallace hosts the podcast boomtown in says layoffs have already come into the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day the Permian basin has survived past checkouts but Wallace thinks this could resemble the crash of the eighties when six thousand oil companies went away amid a prolonged glut of oil we heard our grandparents talk about the bus but this is new to my generation and so yeah it's gonna be a wild ride bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work who's hiring now Texas oil and gas attorney John McFarland now we're also in the world of viruses and those people are gonna have a hard time finding anything else to do in the past the people of the Permian basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Crispin agile oilfield services in Odessa says in a bust some get creative through crime I just drive through town grab anything that's not locked down chain down generators you know smaller portable things and then they'll run it off to another city and park in downtown Midland bank sign tracks the price of crude and how many oil rigs are humming those numbers could stay down awhile I'm Scott Tong for marketplace the Senate passed the house coronavirus relief bill today that's the eight and a half billion dollar package the big one eight trillion or more is still in the negotiating stage but the messages that stimulus is coming it's just a question of when and for some it's a question of how the government's going to pay for it they're going to borrow it is the answer unless maybe they don't have to marketplace's Sabri better shore reports now a small but growing call for the government to just you don't bring the money out of thin air Sam gold is a photographer in New York where the city is all but on lockdown things are not going well our issues basically from today on I have completely canceled or postponed so I went from having a fully book calendar for March and April said now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like gold still has to pay rent still have to eat the treasury department wants to send thousand dollar checks to people like gold Congress is working out aid packages for industries and small businesses this call easily cost a trillion dollars Larry Seidman professor at the university of Delaware says the treasury should send up even more checks of three thousand dollars and he says the fed should just print the money the federal reserve should be permitted right S. U. check to the treasury and the check will you're not alone it would be a branch so the treasury does not have to borrow and there would be no increase in our federal government debts but nothing is ever totally free even free money can smothers is professor at the Wharton school if he kept doing that will aid Nelly you're gonna cost inflation econ one a one to much money in the system prices go up when central banks do this it's called monetizing the debt by the way in fact when we see really high inflationary countries like Zimbabwe it all comes from them monetize and it that lets mentor says you're not really likely to get that kind of inflation and recession short term and he says it may well be worth some inflation in the long term to get people the help they need now in New York I'm sorry that a short for market place regular listeners to this program I recognize what's being was just talking about as modern monetary theory or real real close to it you can find the explainer on MMT that we did at market place that O. R. G. the other thing you can do actually is sign up for our daily newsletter get yourself the latest on this crazy fast moving story marketplace dot org slash newsletters is where you go for that there is a lot of news now we get that a lot of uncertainty a lot of questions about what is going on in this economy so send to us your questions I'm at kai result on Twitter there's a link on our website you can use as well here's today's first question hi this is Lola Franco from Briar cliff New York I didn't pay attention and economics for singletons what's the difference between a recession and depression okay so first so first of all I with a high school in lower in Briar cliff New York I actually never took a gun so if she did she said to me anyway disclosure on that but to the point look there have been PhD dissertations written on this topic and we've only got half an hour on this radio program but here are the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the national bureau of economic research the textbook definition of a recession is and this is a quote from them a significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators of depression generally speaking is more severe it's longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this the peak unemployment rate during the Great Recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties twenty four point nine percent so well that's the quick and dirty as I said on Wall Street today everybody was selling everything will have the details when we do the numbers we are going to get a report tomorrow morning that's going to give us our first real economic data peek into this thing something called initial claims for unemployment benefits it'll be for last week so there might be a little bit of a lag between.

Angeles
"dating committee" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:20 min | 1 year ago

"dating committee" Discussed on Marketplace with Kai Ryssdal

"In Los Angeles. I'm Kai Ryssdal. It is Wednesday today. The eighteenth the march. Good as always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here at the top of the program and knows not just stocks because that whole not the economy thing right but I am not talking. Just stocks here. If you looked around at the closed day you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well. Everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash. Well that's an indicator of how serious this is right. Okay oil as promised as been telling you off and on the past couple of weeks. Oil has been getting clobbered caught between a corona virus induced drop in demand and a price war between Russia and Saudi Arabia. And in this oil squeeze one place likely to be hardest. Hit Is Midland Texas population. Forty six thousand six hundred and eighteen a new report out from Brookings reminds us that midland out in West Texas is smack in the heart of the Permian Basin. This country's most critical oil patch benchmark West Texas intermediate. Crude is down around twenty dollars a barrel right now. That's a level we haven't seen on a prolonged basis since the nineteen seventies so marketplace's Scott Tong reports now on life in West Texas as the economic storm comes life in the oil patch. Moves FAST DRILL. It sell it while prices are high and the bus comes just as Fast West. Texas native Christian Wallace host. The podcast boomtown in says layoffs have already come into the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day. The Permian Basin has survived. Pass shakeouts but Wallace thinks this could resemble the crash of the eighties. When six thousand oil companies went away amid a prolonged glut of oil. We heard our grandparents talk about the bus but this is neat my generation. And so yeah it's GonNa be a wild ride. Bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work. Who's hiring now? Texas oil and gas attorney. John McFarland. Now we're also in the world of viruses and those people are going to have a hard time finding anything else to do in the past. The people of the Permian Basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Crisp at Agile Oilfield Services in. Odessa says in a bust. Some get creative through crime. They'll just drive through town. Grab anything. That's not locked down or chain down generators smaller portable things and then they'll run it off to another city in downtown. Midland Bank signed tracks. The price of crude and how many oil rigs are humming. Those numbers could stay down a while. I'm Scott Tong for marketplace. The Senate passed the House Corona Virus Relief Bill Today. That's eight and a half billion dollar package. The big one a trillion or more is still in the negotiating stage. But the message is that stimulus is coming. It's just a question of when and for some it's a question of how the government's GonNa pay for it. They're going to borrow. It is the answer. Unless maybe they don't have to marketplace's Sabrina beneficial reports now on a small but growing call for the government to just you know print the money out of Thin Air Sam. Gold is a photographer in New York. Where the city is all on lockdown. Things are not going well. I love the shoes basically from today on have completely cancelled or postponed so I went from having a fully calendar for March and April two. Now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like. Gold still has to pay rent still has to eat. The Treasury Department wants to send thousand dollar checks to people at gold. Congress is working out aid packages for industries and small businesses. This could all easily cost a trillion dollars. Larry Seidman professor at the University of Delaware says the Treasury should send out even more checks of three thousand dollars and he says the Fed should just print the money. The Federal Reserve could be permitted to write a huge check to the treasury. And the tech. You're not alone. It would be a grant so the Treasury does not have to borrow and there would be no increase in our federal government debt but nothing is ever totally free even free. Money can't smethers professor at the Wharton School is he. That willy. Nilly you'RE GONNA CAUSE INFLATION ECONO- one too much money in the system. Prices go up when central banks do this. It's called monetize the debt by the way in fact when we see really high inflationary countries like Zimbabwe. All comes from them monetize. The debt but center says you're not really likely to get that kind of inflation in a recession short term. And he says it may well be worth some inflation in the long term to get people the help they need now in New York. I'm Sabrina shore for marketplace regular listeners. To this program might recognize. What's Abreu was just talking about as modern monetary theory or real real close to it you can find the explainer on MTV that we did at Marketplace Dot. Org the other thing you can do actually is sign up for our daily newsletter and get yourself the latest on this crazy fast moving story marketplace dot. Org Slash. Newsletters is where you go for that. There is a lot of news now. We get that a lot of uncertainty a lot of questions about what is going on in this economy so send them to us the questions. I'm at Kai Ryssdal on twitter. There's a link on our website you can use as well. Here's Today's first question. Hi this is Lola Franco from BRIAR CLIFF NEW YORK. I didn't pay attention. In economics for Simpleton. What's the difference between a recession and depression? Okay so I so first of all I would too high school Lola in Brooklyn New York. I actually never took econ so if she did. She's Adamy anyway disclosure on that but do the point. Look there have been. Phd Dissertation Written on this topic. And we've only got half an hour on this radio program but here the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the National Bureau of Economic Research. The textbook definition of a recession is and this is a quote from them. A significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators depression generally speaking is more severe. It's longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this. The peak employment rate during the great recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties. Twenty four point nine percent so lola. That's the quick and dirty as I said on Wall Street Today. Everybody was selling everything. We'll have the details when we do the numbers..

Permian Basin Texas Treasury Scott Tong New York West Texas Kai Ryssdal professor Federal Reserve Los Angeles Midland Bank National Bureau of Economic Re Odessa Treasury Department Wallace Marketplace Dot
"dating committee" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

07:46 min | 1 year ago

"dating committee" Discussed on WNYC 93.9 FM

"In Los Angeles on it is Wednesday the eighteenth of March it is always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here throughout the program and no it's not just stocks because that'll not the economy thing right but I am not talking just stocks here if you look around at the close today you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash well that's an indicator of how serious this is right okay oil as promised as we've been telling you often on the past couple weeks oil has been getting clobbered caught between a corona virus induced drop in demand at a price war between Russia and Saudi Arabia and in this oil squeeze one place likely to be hardest hit is Midland Texas population forty six thousand six hundred and eighteen a new report out from Brookings reminds us that Midland at West Texas is smack in the heart of the Permian basin this country's most critical oil patch benchmark West Texas intermediate crude is down around twenty dollars a barrel right now that's a level we haven't seen on a long basis since the nineteen seventies so marketplaces Katong reports now on life in West Texas as the economic storm comes life in the oil patch moves fast drill it sell it while prices are high in the bust comes just as fast West Texas native Christian Wallace hosts the podcast boomtown in says layoffs have already come into the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day the Permian basin has survived past checkouts but Wallace thinks this could resemble the crash of the eighties when six thousand oil companies went away amid a prolonged glut of oil we heard our grandparents talk about the bus but this is new to my generation and so yeah it's gonna be a wild ride bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work who's hiring now Texas oil and gas attorney John McFarland now we're also in the world of viruses and those people are going to have a hard time finding anything else to do in the past the people of the Permian basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Crispin agile oilfield services in Odessa says in a bust some get creative through crime I just drive through town grab anything it's not locked down a chain down generators you know smaller portable things and then they'll run it off to another city impala in downtown Midland bank sign tracks the price of crude and how many oil rigs are humming those numbers could stay down awhile I'm Scott Tong for marketplace the Senate passed the house coronavirus relief bill today that's the eight and a half billion dollar package the big one eight trillion or more is still in the negotiating stage but the messages that stimulus is coming it's just a question of when and for some it's a question of how the government's gonna pay for it they're going to borrow it is the answer unless maybe they don't have to marketplace's Sabri better shore reports now a small but growing call for the government to just you don't bring the money out of thin air Sam gold is a photographer in New York where the city is all but on lockdown things are not going well our issues basically from today on I have completely canceled or postponed so I went from having a fully book calendar for March and April said now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like gold still has to pay rent still have to eat the treasury department wants to send thousand dollar checks to people I called Congress is working out aid packages for industries and small businesses this call easily cost a trillion dollars Larry Seidman professor at the university of Delaware says the treasury should send up even more checks of three thousand dollars and he says the fed should just print the money the federal reserve should be permitted right you check to the treasury and the check will you're not alone it would be a branch so the treasury does not have to borrow and there would be no increase in our federal government debts but nothing is ever totally free even free money can smothers is professor at the Wharton school if he kept doing that will aid Nelly you're gonna cause inflation econ one a one to much money in the system prices go up when central banks do this it's called monetizing the debt by the way in fact when we see really high inflationary countries like Zimbabwe it all comes from them monetize and it that lets mentor says you're not really likely to get that kind of inflation and recession short term and he says it may well be worth some inflation in the long term to get people the help they need now in New York I'm Sabri vanished work for market place regular listeners to this program I recognize what's really was just talking about as modern monetary theory or real real close to it you can find the explainer on MMT that we did at market place dot O. R. G. the other thing you can do actually is sign up for our daily newsletters and get yourself the latest on this crazy fast moving story marketplace dot org slash newsletters is where you go for that there is a lot of news now we get that a lot of uncertainty a lot of questions about what is going on in this economy so send to us your questions I'm at kai result on Twitter there's a link on our website you can use as well here's today's first question hi this is full of Franco from Briar cliff New York I didn't pay attention and economics for simple tens what's the difference between a recession and the depression okay so first so first of all I with a high school in lower in Briar cliff New York I actually never took a gun so if she did she said to me anyway disclosure on that but to the point look there have been PhD dissertations written on this topic and we've only got half an hour on this radio program but here are the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the national bureau of economic research the textbook definition of a recession is and this is a quote from them a significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators of depression generally speaking is more severe is longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this the peak unemployment rate during the Great Recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties twenty four point nine percent so low that's the quick and dirty as I said on Wall Street today everybody was selling everything will have the details when we do the numbers we are going to get a report tomorrow morning that's going to give us our first real economic data peek into this thing something called initial claims for unemployment benefits it'll be for last week so there might be a little bit of a lag.

Los Angeles
"dating committee" Discussed on KCRW

KCRW

07:44 min | 1 year ago

"dating committee" Discussed on KCRW

"In Los Angeles it is Wednesday the eighteenth of March it is always to have you along everybody so there is something happening right now in the markets that we need to spend a little time on right here throughout the program and no it's not just stocks because that'll not the economy thing right but I am not talking just stocks here if you look around at the close today you would have seen stocks off a ton commodities down as well oil in particular and more on that in a minute by the way gold was down and bond prices were down as well everything was being sold and when everything's being sold and nothing is being hedged people are looking for cash and when people are looking for cash well that's an indicator of how serious this is right okay oil as promised as we've been telling you often on the past couple weeks oil has been getting clobbered caught between a corona virus induced drop in demand at a price war between Russia and Saudi Arabia and in this oil squeeze one place likely to be hardest hit is Midland Texas population forty six thousand six hundred and eighteen a new report out from Brookings reminds us that Midland at West Texas is smack in the heart of the Permian basin this country's most critical oil patch benchmark West Texas intermediate crude is down around twenty dollars a barrel right now that's a level we haven't seen on a long basis since the nineteen seventies so market places got Tong reports now on life in West Texas as the economic storm comes life in the oil patch moves fast drill it sell it while prices are high in the bust comes just as fast West Texas native Christian Wallace hosts the podcast boomtown in says layoffs have already come into the type of thing where you're fine one day and you wake up in the middle of the night and you don't have a job the next day the Permian basin has survived past checkouts but Wallace thinks this could resemble the crash of the eighties when six thousand oil companies went away amid a prolonged glut of oil we heard our grandparents talk about the bus but this is new to my generation and so yeah it's gonna be a wild ride bankruptcies are seen as inevitable and for the rig workers engineers and truck drivers looking for work who's hiring now Texas oil and gas attorney John McFarland now we're also in the world of viruses and those people are gonna have a hard time finding anything else to do in the past the people of the Permian basin have shocked doubters by innovating finding cheaper ways to drill oil but Taylor Chris spent agile oilfield services in Odessa says in a bust some get creative through crime I just drive through town grab anything that's not locked down chain down generators you know smaller portable things and then they'll run it off to another city in park in downtown Midland bank sign tracks the price of crude and how many oil rigs are humming those numbers could stay down awhile I'm Scott Tong for market place the Senate passed the house coronavirus relief bill today that's the eight and a half billion dollar package the big one eight trillion or more is still in the negotiating stage but the messages that stimulus is coming it's just a question of when and for some it's a question of how the government's gonna pay for it they're going to borrow it is the answer unless maybe they don't have to marketplace's Sabri better show reports now a small but growing call for the government to just you know print the money out of thin air Sam gold is a photographer in New York where the city is all but on lockdown things are not going well I learned this year basically from today on I have completely canceled or postponed so I went from having a fully book calendar for March and April said now nothing multiply this across millions of jobs throughout the economy and this is what a recession looks like gold still has to pay rent still have to eat the treasury department wants to send thousand dollar checks to people I called Congress is working out aid packages for industries and small businesses this call easily cost a trillion dollars Larry Seidman professor at the university of Delaware says the treasury should send up even more checks of three thousand dollars and he says the fed should just print the money the federal reserve's should be permitted right S. U. check to the treasury and the check will you're not alone it would be a branch so the treasury does not have to borrow and there would be no increase in our federal government debts but nothing is ever totally free even free money can smothers is professor at the Wharton school if he kept doing that will aid Nelly you're gonna cost inflation econ one a one to much money in the system prices go up when central banks do this it's called monetizing the debt by the way in fact when we see really high inflationary countries like Zimbabwe it all comes from then monetizing that that lets mentor says you're not really likely to get that kind of inflation and recession short term and he says it may well be worth some inflation in the long term to get people the help they need now in New York I'm Sabri Banna short for market place regular listeners to this program I recognize what's being was just talking about as modern monetary theory or real real close to it you can find the explainer on MMT that we did at market place dot O. R. G. the other thing you can do actually is sign up for our daily newsletter you get yourself the latest on this crazy fast moving story marketplace dot org slash newsletters is where you go for that there is a lot of news now we get that a lot of uncertainty a lot of questions about what is going on in this economy so send to us your questions I'm at kai result on Twitter there's a link on our website you can use as well here's today's first question hi this is Lola Franco from Briar cliff New York I didn't pay attention in economics for simple tens what's the difference between a recession and depression okay so first so first of all I with a high school in lower in Briar cliff New York I actually never took econ so if she did she said to me anyway disclosure on that but to the point look there have been PhD dissertations written on this topic and we've only got half an hour on this radio program but here the highlights according to the people who get to decide which by the way is a group called the business cycle dating committee of the national bureau of economic research the textbook definition of a recession is in this is a quote from them a significant decline in economic activity spread across the economy lasting more than a few months and then it lists a bunch of indicators of depression generally speaking is more severe it's longer lasting and it's sometimes quite often global but here's a useful indicator if you want some numbers on this the peak unemployment rate during the Great Recession ten years ago was ten percent peak unemployment during the Great Depression back in the thirties twenty four point nine percent so low that's the quick and dirty as I said on Wall Street today everybody was selling everything will have the details when we do the numbers we are going to get a report tomorrow morning that's gonna give us our first real economic data peek into this thing something called initial claims for unemployment benefits it'll be for last week so there might be a little bit of.

Los Angeles
"dating committee" Discussed on Odd Lots

Odd Lots

12:51 min | 1 year ago

"dating committee" Discussed on Odd Lots

"And I think even to myself it was a surprise at the response because and I mean I have many fed colleagues and former fed even officials who have no. They are not impressed. They were like well. We knew this a small increase in the unemployment rate. It's bad news after the summer will became big. I checked with my former boss. Andrew Figura and I'm like please tell me I did not scoop our internal rule. And he's no we use as a rule of thumb as three tense increase in unemployment rate. And that's for the Fed remember. The Fed can move oof faster if the Fed cuts quarter point. It's not like the deficit blows up so they actually use something a little faster. It has false positives ositive remember. I was really looking for something accurate. So but it's in the spirit small rise in the unemployment rate or bad news. What was shocking to me and this is one of my complaints with the Fed? We bring in a lot of information. We think hard about it. We know honest about the economy and we often don't share it and so all I knew a small increase in unemployment was bad news I frankly knew the psalm rule which I did not name it. The Psalm rule was recession indicator. My Chapter I knew it was gonNA WANNA work. I mean I spent a lot of Saturday afternoons with the spreadsheet and in the end I pulled all the real time data which is a little extra wonky flourish at the end and so I was looking at the unemployment rate as we would have seen it in the actual time unemployment rate does revise a little bit But this was important for my approach it worked. I was blown away by the response. My series with my name attached to the variable. Oh is in Hay fever and Bloomberg and then it's Inter- fred. They gave me a fred. tee-shirt it's like my favorite piece of clothing for those for those who don't know the Fred is the Saint Louis Federal Reserve Database website charting tool. And if you're like if you don't have a Bloomberg of course the Bloomberg is the best thing in the world but if you don't have Bloomberg it is the best website in the world for playing around with analyzing Economic Data and the fact that you're indicator cater got in. There is extremely cool and I just want to say that but yeah an an important piece of Fred again. Bloomberg is Great. The terminals is that it's free. Anybody can get on Fred and download the series. Take a look at it understand. What it is? I've been contacted Ed by individuals and state governments. Who are thinking about? How could we integrate this into? It's time to bump up our food stamps. It's time to do something at the state level. It was then clear to me. And actually I had reactions from people who follow economic policy in DC Not Monetary Harry policy. Who told me it's cloudy? I can't believe this words and so I realized that while the Fed we got this and frankly like financial financial people who do economic forecasting on Wall Street need a lot of them have come from the Fed and training. They knew this to their clients. Knew this is. This has been a newsletters but the people in state governments the people doing fiscal policy in DC. They didn't know so. It really opens up a whole avenue for policy especially policy rules fiscal policy rules to be put in place and that could be huge. So I'm proud of this. I have a teenage daughter. She about a month ago looked at me in the car and she's like mom. Are you afraid. That you've peaked. With the Psalm rule and I was like oh my gosh. Teenagers are the best to keep your ego in check but I told her I said you know I'm going to be a one trick Pony Oni. This is a trick I want this. This is big and can help people. Yeah and your idea though. Basically solves too big problems when it comes to fiscal stimulus so so it allows people to recognize that a recession is coming and your idea about direct stimulus payments to individuals that allows everyone everyone to pre agree on a method to combat that recession. And you mentioned some state governments talking about without ways that they might incorporate it. How hopeful argue that your idea get sort of integrated on an an official level or maybe even a federal level in the US? So I think it's really important right because what I've developed right now. What's gotten a lot of attention? Attention is how to say. We're in a recession okay. If that's not paired with a policy response that is swift and vigorous Chris. I worry about negative responses from consumers businesses and markets right so I had a a friend joke with me the other day. It wasn't funny but joked with me. The Oh the next recession it could be the psalm recession and I was like. Oh don't don't do this to me Because has there is an aspect of recessions again. Having studied consumer expectations is often referred to his animal spirits. There's a part of recessions that get get into a very negative downward spiral so if you think there's a recession coming or or frankly households look around and they see people in their family family. Their friends losing their jobs that can create a lot of anxiety up and down the income distribution because the vast majority thirty of Americans are one paycheck sometimes a cut in overtime hours away from having serious financial distress so even if they they don't end up losing their job there's a chance they could. Someone in their family could end so often if they're able to they will cut back in their spending spending. You know maybe they're thinking about buying a car and they're like Oh yeah. Let's let's wait on that because I don't want to commit to these payments then if I lose my job it it'll just be really painful so if that happens that's really bad and that's that you see that in recessions this happens so I'm hopeful that we put policies in places in place like the direct payments to households that Ed led household. Know ahead of time and this could be a positive Mitigating factor. They would know ahead of time. The government has their are back. The government is going to send them checks. This is really straightforward. I think monetary policy is so important monetary policy is not straightforward. We are never never going to get the communications clear enough that households will understand the feds. Got Our back. I think it's really important. In that regard we'd commit to it. People would know ahead of time is not just they get the money. They'd know that the government is really trying hard to short circuit the recession make it shorter. Make it less. Severe that could have really positive. Effects on consumers could have positive effects on employers. They might not be as apt to lay people off. Because they're like. Okay this is. We're GONNA ride this out. This isn't GonNa last long so there could be huge positive effects but I really worry that if the Psalm rule this great recession session indicator isn't paired with a commitment to have a policy response. It might not turn out well so I'm very motivated right now to work with people on on the hill to get this figured out so I'm curious if if we got a big enough policy response because the psalm on rule the recession indicator actually flashed up. Would you then start getting false positives in the recession indicator. I guess what I'm asking is is the a goal to make the effects of the recession less worse than they would. Otherwise be or is the goal to completely stave off the recession. That's coming so so remember. My indicator says we're in a recession the early stages of a recession. It's clear when it starts moving up so when you get to with three tenths increase. I mean this. This will cause consternation and maybe in a discretionary way congress gets ahead of it. I mean the Fed like I said three tenths gets them worried like they're they are likely to be moving at this point. They're going to be likely getting real creative about how to deal with the zero lower bound as a macro economist. I no longer have enough optimism to really say this bud if in some way this was enough and I think there's a lot of other automatic stabilizers blazers the congress ought to be thinking very seriously about but say congress went big early recession. There is a possibility ability that the economic data would turn around in such a way that win the recession dating committee them. VR looks back and like not so. Sure her there's really something there because remember it's not a done deal until they say a recession started. I mean frankly if there was that scenario and people's at Ah this I'm real didn't work. We we supported all these household. We supported unemployed. I mean my goodness. I'll I'll take that one I know the Psalm. Non Recession will be we just fine with me. That's what I was GONNA say. So like the question of false positives of course like I. In financial markets people look at the verdict yield curve. But you know going back to your point if the worst thing that happens is that households got some support and we never really had a declared recession That doesn't seem like a particular Giller disaster in any respect. There's one more component to this that I really want to make sure we don't miss. And that is the right way to structure structure these household payments. And you talked about your work Sort of doing the micro economics of households. What is the best way to do it? I mean we have the Bush we we had a twice underbush right. I believe we had it in two thousand one or two thousand two. They cut a check to everyone. Then we had the one in two thousand seven than we had the payroll tax cuts under Obama. which kind of does this accepted? Only goes to people who have payrolls based on your research. What is the best way to to get the most bang for the economic buck of sending people cash to my proposal is to send out checks big big checks like five hundred thousand dollars calibrated off? How large the economy is how much spending there was going into the recession to everybody gets a check and frankly I want those checks to go to everybody that there were some limits on who got the tax rebates the fiscal payments in two thousand one one and two thousand eight? I want us to go go broad. So that's a big piece of it very talked about this psalm rule. They need to go out as soon as possible. The the only way to guarantee that is to get the the logistics in place. I in developing my proposal. You're right I drew on my research. The other research that went on about all these household Heyman sadly our research program. We had a lot of different policy responses to study because they kept going so my read of that research is direct payments checks really clear. Tell help people they're coming and do it. Fast now appeased mainly people will think as a sidebar but I think is important for making all this turban is of Congress pre commits to doing these payments. Then that will give the Internal Revenue Service the time to put logistics mystic someplace. I read for my research for my policy proposal. I read the Inspector General reports from the Treasury looking back on the two. Two thousand eight stimulus payments. These are fascinating reads. I learned a lot looking at them. And essentially everyone who worked at the Internal Revenue Service Social Security Administration who worked on Oughta get a gold medal for it because they hustled in a way..

Fed government congress Fred Bloomberg Ed Andrew Figura Treasury Inter- fred US gold medal DC official fred.
"dating committee" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

08:18 min | 1 year ago

"dating committee" Discussed on The Indicator from Planet Money

"Breath everyone indicator from planet money. I'm Cardiff Garcia. Today's episode begins with a question. Is there any way to know in real time if an economic recession has started and that's actually a tricky question but there is an answer the answer is called the psalm rule named after the economists. who recently discovered it a cloudy Assam and who is cloudy Assam so I have been twelve years at the Federal Reserve Board and the first ten years were on the staffs macro forecast the last two years I have worked in the division of consumer and Community Affairs and now I am the first director of macroeconomic policy at the Washington Center for equitable growth? You're the eponymous economist. After which the rules named. How can that be your new nickname? Police sure combined navy twitter profile excellent. I suspect cloudy. It might not end up using economist economist in her twitter profile. But after the break break you our listeners are going to get to hear my conversation with her explaining what the Psalm is and also why it matter so much that we identify early on when a recession historic. Finally policymakers can do if the sun will is triggered and a recession indeed has started. This message comes from. NPR SPONSOR TIAA committed to the idea that while most things in life run out from clean shirts in the morning to a favorite dessert at night lifetime income in retirement shouldn't learn more at Tiaa dot org slash. Never runout support also comes from Google from Connecticut to California from Mississippi to Minnesota millions of American businesses are using Google tools else to grow online learn more at Google dot com slash. Grow the last recession. You know the big one that ended roughly a decade ago started in December. Remember two thousand and seven but the committee within the economics world that officially identifies the start of a recession. Didn't make the announcement until December two thousand eight affoil year later. It's actually called a recession. Dating Committee were sounds a lot more fun than it actually is. That is economists. Cloudy Assam and she says it is normal normal for this committee to take a while to be delivered. Take its time when it's identifying the start of a recession see the recession dating committee weights because it wants to be sure that there actually actually was a recession and also because the committee is looking at a lot of data to confirm that there was quote a significant decline in economic activity Spread across the economy lasting more than a few months unquote. That's how the committee defines a recession into be cleared those experts and they're all very senior macro-economists macro-economists they're looking at the data all the time especially when the economy starts to soften but what they're using as a whole host of data now there is also an unofficial way to know if there has been a recession which is if the economy shrinks for two straight quarters which is obviously half a year but that takes a while to know also uh-huh especially since the quarterly growth statistics. Take a while to come out after each quarter ends so that if hypothetically a recession started last month in October we wouldn't find out about it until almost the start of next May so based on her research cloudy came up with a better way the psalm rule what is is the psalm rule. So this psalm rule. It's all based off the unemployment rate. Okay so quicken. Injection the unemployment rate that is the share of people in the labor force who do not have jobs but are looking for jobs and since the unemployment rate can sometimes fluctuate from month to month for arbitrary reasons. The summer looks at the three month. Average of the unemployment unemployment rate to smooth out those fluctuations back to Klaudia so he take a three month average of the monthly unemployment rate. Okay then I look at any month. Oh relative to the prior twelve months so I'm using thirteen months data and what I do is win the difference. So when the current unemployment rate is a a half percentage point or more above the prior low over that prior twelve months. Then we're in a recession okay. So there's a little bit to unpack there so here is what what it means in practice right now. The three month average of the unemployment rate is three point six percent so that's number to focus on three point. Six percent blissett starts rising and within the next year. Let's say July of next year it has climbed half a percentage point and it hits four point one one percent that means that the psalm rule has been triggered and a recession has started within the prior few months. Well in fact since the nineteen seventies. That's always he's been the case any time from the seventies on every time it triggers we are two to four months into a recession and the big advantage of the Psalm. Rule over over the other ways of knowing if an economy's in recession is that we find out much sooner that the recession has started and cloudy work on. Recessions does not stop there. She also so came up with a way. For policymakers to respond wants to SOM- rule has been triggered and we know the recession is indeed underway. And so I developed the Psalm ruled to put a proposal. Together that said payments to household individuals in a recession should be automatic. They should happen as fast as they can. In a recession they should be noticeable cinema thousand dollars or more and get that money out to household so they they don't have to cut back on spending as much there. They know that the government is trying to do something to support them. Cloudy is ideas. Note an economics as has an automatic stabiliser. It's automatic because once the economy does something specific like say it triggers the Psalm rule then. The response from the government is automatic. Those checks go out because Congress already agreed how the government will respond to stabilize the economy hence the name automatic stabiliser and cloudy. Saudis proposal is based on research from the past couple of decades including some of her own and that research shows that people will spend more money to boost the economy if they get a big one time payment than if they get a smaller steady stream of payments that hits their paychecks. Every couple of weeks and cloudy says. There's a good reason for why every household I should get a big check and not just those where someone has lost a job or had their wages cut early in a recession. It's hard to know who is going to be hit hard and and there's a lot of anxiety. There are a lot of households that no. They're on the margin and we want to support them. We don't want them to stop spending to stop supporting the lifestyle they have. So that's the idea and you know what the Psalm rule has become a big league hit with economists. But it's worth noting that Claudia herself is actually hoping for obvious reasons that we don't have to apply for a while. Here's a question that thinks on everybody's everybody's mind. What is the some real saying right now? We're not in a recession excellent. Yes that's a very happy thing. I did talk. Talk to someone and they're like well. This is going to be you know. The big test is when the next recession happens. And I'm like you know what frankly I'd be happy to wait a long time for that. Yeah no kidding thing you know decades and decades possibly be Australia. They've had like twenty seven straight years or something like that without a recession Cloudy Sam thanks so much for being on the indicator thank you and that's it that's the psalm rule if you want to know more about it how it works cloudy. wrote a detailed peace about it a and about automatic stabilisers brookings think tank earlier this year. We'll post a link to it at NPR dot org slash money and on twitter. This podcast gas was produced by Lena. Sons Gerry our editors Patty I or fact checkers Nadia Lewis in the indicator is a production of NPR. Also by the way the indicator is on Thanksgiving break tomorrow Thanksgiving Day and on Friday. So we'll be back on Monday and we wish all of you our listeners. A very happy and restful Thanksgiving holiday break.

twitter Assam NPR Google Dating Committee Cardiff Garcia Australia Federal Reserve Board Community Affairs Washington Center Gerry Congress Klaudia Nadia Lewis
"dating committee" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

06:25 min | 1 year ago

"dating committee" Discussed on The Indicator from Planet Money

"Grow the last recession. You know the big one that ended roughly a decade ago started in December. Remember two thousand and seven but the committee within the economics world that officially identifies the start of a recession. Didn't make the announcement until December two thousand eight affoil year later. It's actually called a recession. Dating Committee were sounds a lot more fun than it actually is. That is economists. Cloudy Assam and she says it is normal normal for this committee to take a while to be delivered. Take its time when it's identifying the start of a recession see the recession dating committee weights because it wants to be sure that there actually actually was a recession and also because the committee is looking at a lot of data to confirm that there was quote a significant decline in economic activity Spread across the economy lasting more than a few months unquote. That's how the committee defines a recession into be cleared those experts and they're all very senior macro-economists macro-economists they're looking at the data all the time especially when the economy starts to soften but what they're using as a whole host of data now there is also unofficial way to know if there has been a recession which is if the economy shrinks for two straight quarters which is obviously half a year but that takes a while to know also uh-huh especially since the quarterly growth statistics. Take a while to come out after each quarter ends so that if hypothetically a recession started last month in October we wouldn't find out about it until almost the start of next May so based on her research cloudy came up with a better way. The Psalm rule what is is the psalm rule. So this psalm rule. It's all based off the unemployment rate. Okay so quick. Injection the unemployment rate that is the share of people in the labor force who do not have jobs but are looking for jobs and since the unemployment rate can sometimes fluctuate from month to month for arbitrary reasons. The summer looks at the three month. Average of the unemployment unemployment rate to smooth out those fluctuations back to Klaudia so he take a three month average of the monthly unemployment rate. Okay then I look at any month. Oh relative to the prior twelve months so I'm using thirteen months a data and what I do is win the difference so when the current unemployment rate is a a half percentage point or more above the prior low over that prior twelve months. Then we're in a recession okay. So there's a little bit to unpack there so here is what what it means in practice right now. The three month average of the unemployment rate is three point six percent so that's number to focus on three point. Six percent blissett starts rising and within the next year. Let's say July of next year it has climbed half a percentage point and it hits four point one one percent that means that the psalm rule has been triggered and a recession has started within the prior few months. Well in fact since the nineteen seventies. That's always he's been the case any time from the seventies on every time it triggers we are two to four months into a recession and the big advantage of the Psalm. Rule over over the other ways of knowing if an economy's in recession is that we find out much sooner that the recession has started and cloudy work on. Recessions does not stop there. She also so came up with a way. For policymakers to respond wants to SOM- rule has been triggered and we know the recession is indeed underway. And so I developed the Psalm ruled to put a proposal. Together that said payments to household individuals in a recession should be automatic. They should happen as fast as they can. In a recession they should be noticeable cinema thousand dollars or more and get that money out to household so they they don't have to cut back on spending as much there. They know that the government is trying to do something to support them. Cloudy is ideas. Note an economics as has an automatic stabiliser. It's automatic because once the economy does something specific like say it triggers the Psalm rule then. The response from the government is automatic. Those checks go out because Congress already agreed how the government will respond to stabilize the economy hence the name automatic stabiliser and cloudy..

Dating Committee Assam Klaudia Congress
"dating committee" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

07:03 min | 3 years ago

"dating committee" Discussed on Marketplace with Kai Ryssdal

"Coming up, many of my colleagues became lobbyists made millions and millions of dollars, quite frankly from lame ducks too, big bucks. But first, let's do the numbers. Another up and down day on Wall Street as I said gains at the start. And then a firm ending on down does drills down fifty three points today to ten percents four thousand three seventy the NASDAQ rose eleven points about a ten percent seven thousand thirty one the S and P five hundred essentially unchanged. Twenty six and thirty six. We looked at the challenges for Verizon. Amy, Scott, then company announced that four point six billion dollar right off rising up nearly one percent today. Comcast Dow down one and three tenths of one percent as we mentioned, Google CEO. Sooner Pichai was on Capitol Hill today. Google alphabet found eight tenths percent Facebook clicked up about a tenth percent today. Twitter posted up three percent China in order to auto tariffs. We touch down briefly Ford climbed two-tenths percent. General Motors pumped up more than three quarters of one percent. You're listening to marketplace. You make financial decisions every day for minor transactions. Two major life choices. Then that's why marketplace covers the economy from so many different angles. Connecting the dots between the micro and the macro as a nonprofit organization we. Depend on individuals. Like you to help us provide trustworthy, news that adds value to your life. If you're not yet. Marketplace investor please contribute today at marketplace dot org, and your gift will be matched dollar for dollar. Then. Thanks this. Marketplace podcast is brought to you by. Indeed when it comes to hiring. You don't have time to waste you need help getting your shortlist of qualified candidates fast. That's why you need indeed dot com post a job in minutes, set up screener questions than zero in on qualified candidates using an intuitive online dashboard. And when you need to hire fast, accelerate your results with sponsor jobs. New users can try for free at indeed dot com slash marketplace. That's indeed dot com slash marketplace. Terms, conditions, and quality standards apply. That's marketplace podcast is brought to you by with Sabi. Hot cloud storage. If your company's thinking about moving data storage to the cloud, check out the company. That's rethinking cloud storage with Sabi is less expensive than just the maintenance on your current on premises storage. Plus, it's eighty percent cheaper and six times faster than Amazon. S three with no egress fees. Experience. It for yourself with free unlimited storage for a month cut, Assab dot com. Click free trial and use the offer code was ambi-. This is marketplace, I'm KAI Ryssdal. As talk of the next recession becomes just a bit stronger, and let's be clear here, right? There is going to be a recession since question of win. Anyway, a whole lot of forecast in predictions are being made, but the actual deciders on win recession starts, and when it ends actually or the people who sit on something called the business cycle dating committee of the national bureau of economic research. James Patricia is the president of the NBA is also professor of economics at MIT walkman program pleasure to be with you first things. First what is the national bureau of economic research? You are you guys pull the NBA are was founded in nineteen twenty when there was much less information and data on the US economy. The two founders one of them was a Marxist labor. Organizer the other was a corporate titan who worked for AT and T they'd serve. On some conditions in the state of New York and they disagreed on the policy recommendations most of the time, but they agreed that there was no data on the labor market or related issues. So they created this organization, and we are not allowed to make policy recommendations, but we disseminate economic research analyze data, and we have the responsibility for trying to date the turning points in the US economy as well understood, and that's kind of a perfect setup. So without wanting anybody to read anything into the fact that you, and I are having this conversation when the business cycle dating committee at the national bureau of economic research sits down and looks at things and starts thinking about the business cycle. What is it looking forward to looking at? Well, if it's looking for a recession it's looking for evidence of a significant and sustained downturn in economic activity that is broadly distributed across the economy. It's not looking for just a blip. It's looking for something that's more substantial and it uses a number of different measures to try to to gauge what's happening. So let's put this one to bed. It's not that whole two cycles of negative GDP growth two quarters, right? It's not. And the reason we do not do that is because you could easily imagine a situation in which you'll real GDP declines by one tenth of a percent in one quarter one tenth of a percent in another quarter. While at the same time employment is rising real gross domestic income is rising. And it just doesn't look like a sustained downturn. And what the committee while it minutely is, you know, it's a group of ten people and it's looking at a variety of different measures. It's it's making ultimately a somewhat subjective coal, but it's trying to use judgment to impose on the data rather than going with the very simple rule in these cases. It's always retrospective. Right. I mean, just for the for the great recession which started in December of two thousand seven the business cycle. Dating committee didn't figure that out until I think it was like the summer of two thousand eight or something I remember this very well the Monday after thanksgiving when we announced that the US economy and entered a recession in December of the previous year. Yeah, we got some I wouldn't call it fan mail. We got some rather harsh commentary from the public for announcing that we were in a recession at that point. I bet the point to make here though, is that by June of two thousand nine we were out. So it was it was long. It was deep, but in the grand scheme of things it was only eighteen months. That's right now do remember that you when we think about a recession. It's a time when economic activity is declining. But it does not mean that when we're out of a recession economic activities at the level that we would like to be it's a little bit like saying you've descended the Grand Canyon. You're at the bottom, and you're just starting to climb back out when you're no longer going down. But you're still not back anywhere near the top. Right. Okay. So with all the appropriate caveats in place that you know, we're we're not calling anything right now. And and recessions not starting tomorrow. What are you as a practicing economist looking at right now? Well, the business cycle dating committee. Looks only in retrospect, so the variables that it tends to focus on our, you know, real roast. Domestic product and real gross domestic income employment numbers at sometimes looks at retail sales also industrial production. And of course, it's important to remember that since we're looking at is the economy expanding or contracting. There's a lot of discussion today about numbers that are not growing as quickly as they were earlier in the year. But that's a far cry from numbers that are declining. Jimbo turbo. He's the president of the national bureau of economic research. Also, professor of economics at MIT, sir. Thanks, very much retired. I it's a pleasure to talk to have a great day. There

national bureau of economic re US Google professor of economics president Sabi bureau of economic research NBA Verizon Facebook Pichai Twitter General Motors KAI Ryssdal AT Amazon