35 Burst results for "Six Hundred Billion Dollars"
Why Democrats Love Inflation
"Have made the argument here on this program that many democrats want inflation. Inflation helps the corporate class and allows them to pay off their debts. Did you know that. Us corporations expanded their balance sheets. By barring six hundred billion dollars in the last year they knew that interest rates will never get the slow again and so every day companies and especially the fortune one hundred companies. They went on a borrowing spree. They borrowed more money. Then they have in recent memory because they knew that all of a sudden if inflation is going to kick in if inflation is going to occur. You want to have as much debt as you possibly can manage or almost more than you can manage. Because then the eight percent inflation radio or the six percent inflation rate a year will actually minimize the debt burden. You have you might as well live it up while you can. Rich people do very well when inflation comes if you own physical assets land gold silver or you're able to move money quickly especially liquid. You'll do fine in the midst of inflation. The people that inflation hurts the most our young people students and middle class workers
McConnell Says GOP Open to $600 Billion for Infrastructure
"Hi Mike Crossey a reporting the Senate GOP leader says Republicans are open to spending six hundred billion dollars for infrastructure improvements Senate minority leader Mitch McConnell is floating a national infrastructure investment spending plan that's about a quarter of the size of the two point three trillion dollar proposal president Joe Biden has laid out speaking at the university of Louisville Monday McConnell said Republicans are willing to spend up to six hundred billion dollars on infrastructure Connell also came out against Biden's plan to pay for the infrastructure package by raising the corporate tax rate from twenty one percent back to twenty eight percent instead McConnell said he favors increasing user fees Mike Rossio Washington
Creating super-human voice assistants with Nikola Mrki, CEO of PolyAI
"Apple for a while and then you win and create polly ai. What was it specifically the kind of took in that direction. What was it that you enormous in wasn't working either necessarily broadly speaking invoice technology. What was it that you saw wasn't quite right. In what problem did you think you could solve by by creating paula. I absolutely so What i think the challenger creating a horse assisted. Level thrive people through any of these media kardashian mobile phone speaker. Second thing it's different. Hotter product has many uses. The finish quality and other food is very different. People inside cleanable the to clear those the ottawa Negative while we're kind of like you know the future Know say amazon charged enough to have On every two will not when you aggregate fact their fifteen thousand equal working at alexa do actually as long as someone who worked on this before it was as huge as opulent as it is today. You can't help but things have not achieved back much when you know like the few scenarios that he knew any of these technology despite music you know setting larssen timers asking you questions when playing board games navigation of exiting but overall. It's really not that overwhelming. There wasn't hope that this would be the next thing after mobile really. it's kind of growing. It's growing the read. The say laptops grew up in the ninety s and the group right in compound. Interest is miraculous dion here with a laptop. But it's definitely not exploded in the way to save the iphone. Did even though. I think many of these companies that would now you hear these very articulate narrative Directly to shop is enter. Be really materialized when we have a are in vr blindly. Those are all things that will build into insomnia clear where He conditioned from the ecology by co founders through our senior research team. We were all brought up by. Crm's steve is less cambridge professor. Almost one of the guy had species mission for years. Was the leading person. Pushing hidden markov models. We wanted only way. You'd bisbee shirt mission until these learning got an and really as a matter of ernst and they were more efficient methods previously Westchester kangaroos he sold three counties As he you know supple the see that since two thousand six hundred billion dollars bermudian six Missionaries are twenty thirty years. It is impossible for measuring that you can have a sophisticated conversation with us. But see sorta developing formalism the models these errors is waste recovered specials severe to really bring converse in to the understanding. So that you're able to really elevates something we really awesome A few people in the company that there are similar problems leader in the battle management decided save depending on. Both the of the user might have met Sheet metal wall seats available shop inventory or reservation book and so on. Yeah i mean when when when you think about what has been built in where you go. Silence made sure to make progress. The most isolated followed that as scientists Both saw its customers. There's a lot of data. There's a genuine genuine. Consumer eve right at All these fools and interestingly i land look you go into a large People customer experience with people bought line of the cio's and they all really end up on with your yard also. And if you haven't done this before we ever all happened so you are brighter citizens. We were the city when we had a lot of success for us. Few years is really a shame of systems that are incredible airless. Some of the most sophisticated thought An employee narrow the bird. They're not here and talk to you about anything we can talk to you but meeting life but you know you want to book a table and you really or schedule. Data's choosier through the evening. Not after learning must really complex stuff. The the more by the customer service is are actually able to evaluate the systems breath. And how he florida track assistant done and that. The second problem is blake all frustrated. Leave users fears to Speaking we choose our battles but out we're able to perform the most human agents quite often we beyond to be probably won't really into application just until how do mean by outperform humans in in what respect to outperform. So that's your accomplice crush on the on the one hand just reaching characteristics. Aw a support. Asians or human didn't make them popular the audio voice. Speeders your other understand. The user meets all jeering answer. It didn't constraints where it is more narrow occasions where eagles Now when he reforming hugh. If i stayed in my last elections naza were. Wade's speakers Are you paying and quickly. Say that my vote is was that might or bamberg for the for scherzer. God's actually slow surprise a matter of fact but now we're able to mav performed see humans wanting to actual research the school of cool still understand really talk to the salsa just beating the baseline but there are very few most sectors so well we've been there for long enough to receive a very product where they're hundred about it like sizes of all those questions even though the answer because it's more bright they how the answers. They're connected to social system. The answer changes you know media the people because they straightaway. Don't get tired whatever language you need them to use Something's the edged. Change the So there are many hours which museums are falling like. We speak a few languages. You know we don't know the answers. We will startle both codes and in many of these many of these problems we have transactional but really currently functional assistance in place authors.
Here's the new Democratic plan for $1400 stimulus checks
"Over the course of the pandemic america's spent about four trillion dollars supporting its economy. That's pressing nearly twenty percent of gdp before the crisis. Henry curve is our economics editor. The big question is how much adds to that support for the remainder of two hundred twenty one. And so what is in mr biden's plan as it stands now well. The total proposal from the white house is four one point nine trillion dollars of new spending. So almost half as much again is what's been spent already and actually the biggest item in that is for these. Nearly universal checks go to most americans. The biden proposal would send an upper forty nine hundred dollars to most americans and that would top the six hundred dollars they received as a result of the last stimulus bill in december to make a total of two thousand dollars which was a number that was popularized by president trump. Democrats seized on. So that's the biggest item but there's lots of other stuff in there as well as three hundred and fifty billion dollars state and local governments. That has money for vaccines testing. There's somebody to help schools reopened and there's a program in that fight child poverty by increasing america's choice tax credit a near universal hand out for families with children and republicans have have made a counter offer on the order of six hundred billion dollars. What's missing from that while they would tone down the checks as they called universal handouts make them much more means tested. That plan doesn't include any new money for state and local governments. The republicans have always said that democrats just want to use the federal government bailout states who are spending too much so they don't include that money and that's quite a big chunk and they trimmed and some other areas as well they do still have the same amount for vaccines testing and healthcare and all this discussion is going on just a few months after the the most recent round of economic aid i mean. Is it already really necessary. So what i do is i. Divide into two buckets. There's one set of things which is essentially like disaster relief. Spending the unemployment insurance extension for instance is replacing lost incomes of workers who have being turfed out their jobs through no fault of erron and are in need but then sometimes the debate about stimulus is framed as what does the economy need from a top down perspective to sort of get gdp growing again. And that's why. I think the debate is a little bit more confused. Gdp is currently down because the hospitality sector hotels restaurants and entertainment venues and transportation. Just not operating close to capacity because social distancing and it doesn't matter how much you pause that's not going to change immediately so then the question is. How much stimulus does the economy to recover. Once you can reopen and that's quite harder due to because there's a lot of debate about how quickly you're going to see things rebound wants the happens because there's so much stimulus in the economy already. What are the downsides to passing the one point nine trillion dollar bill if that number is as you say too big. So that's the big question of the moment. A lot of people think that the economic era has shifted in a way that makes that freed exploring free interest rates silo and of course to a point that is true. I think the danger is that if you do more and more stimulus that you won't overheat the economy now because so much of a shutdown but when the economy reopens maybe lots of pent-up damore doubt that so the cost is that you might get a burst of inflation later when the stimulus is if you like unleashed fully that said we have undershot our inflation targets for a long time the american economy certainly deal with a one off burst of inflation but perhaps the way to look at. It is the white house. Joe biden. They want to spend on other things as well as this bill. They also want to spend on infrastructure. Which could be bailed running into the trillions of dollars to so you may want to hold some of your firepower back in reserve for infrastructure or other priorities and so if that number is simply too big than than to think of it in that top down way what do you think a good number would be so. I think it's very difficult to come up with a good number from the top down perspective because of the uncertainty so to give you a idea of the scale here the congressional budget office. Which is america's official congressional forecaster just projected that the shortfall in america's gdp from his potential with the end of next year will be about one point three percent. The biden proposal for one point nine trillion is six times that gap. So it's really massively overshooting. So i think the right way determined how much to spend is just to look at it at disaster relief from baltimore perspective. Guard line by line and say what is necessary. I think the unemployment insurance boost is definitely necessary. The vaccine spending was obviously very high return. But when you start getting into the ferry generous checks. I think the case is weak and that also goes for the money for state and local governments at the start of the crisis. There was a lot of concern. The state and local governments in america would lose a lot of tax revenue as a result of the economy shutting down by natural fact. They've done a lot better than expected so their budgets have held up. So i think the right way to look at it would be that you should do is necessary for as long the pandemic assists and you'd probably get some close to a trillion dollars and then later if the economy needs more widespread stimulus because growth is disappointing. Maybe dan that's the time to do more. By the moment. I think is quite difficult to build a case for full nearly two trillion dollars and certainly the democrats are struggling. To make that case. I mean having said what you think woodwork What do you actually think is going to happen. Well that's quite difficult to judge at the moment. So there's this interesting trade off. The democrats will per year more or less. Have the power to override or circumvent the republican filibuster in the senate so they can get through that plans even if there's republican opposition. So they have if you like a free hit and they could use it on getting this one point nine trillion proposal through that said it's not just republicans that the white house got to worry about the moderate democrats in the senate may not support the full bill so it will probably come down a bit anyway. I think one point on trillions quite unlikely. But if they did compromise with the republicans on a small number they could save that free. Hit if you like for some other priority or indeed for passing more stimulus later. Should it prove necessary. So i think it depends on the outcome of that political judgment the white house. I think probably that they are sufficiently far away from the republicans they will use reconciliation. That's the procedure to get around the filibuster. So you will get a large stimulus. But i still think in the end is gonna come down a little bit from the one hundred and
Biden to meet with GOP lawmakers to discuss virus relief
"President Biden will meet today with Republican lawmakers in another bid to gain support for his coronavirus relief package Democrats have signaled they're ready to move ahead on his one point nine trillion dollar proposal without Republican back ten GOP senator sent the president a letter urging him to instead make good on his unity pledge and keep talking they're pitching a bill that would spend roughly a third of what he wants about six hundred billion dollars with more targeted relief than the fourteen hundred dollar stimulus checks he wants to send most Americans hours after they sent the letter the president's spokeswoman said he didn't buy them to the White House late today the goal is to pass the bill by next month when extra unemployment aid and other assistance expires Sager mag ani Washington
White House says Biden will meet with GOP senators over relief package
"The White House says president Biden is willing to meet with a group of Republican senators submitted impasse over his massive coronavirus relief package the president's page to one point nine trillion dollar aid bill and as shown signs he's impatient with the GOP resistance yes the fast there's no if ands or buts Louisiana's bill Cassidy is among ten senators who said the president a letter proposing a scaled down bill with more targeted eight ours is about six hundred billion dollars on fox news Sunday Cassidy urged the president to make good on his unity pledge rather than ramming through a bill the White House says the president's invited the ten Republicans to discuss the package early this week they're backing would be significant in a fifty fifty Senate Sager mag ani Washington
GOP senators pitch Biden on slimmed-down Covid relief bill
"A group of senate republicans calling on the white house to accept the compromise on a corona stimulus. Bill the group of ten. Gop senators put up a six hundred billion dollar proposal that includes elements of the biden plan and excludes others louisiana republican. Senator bill cassidy on fox news. Sunday says they matched the president on increasing vaccinations but decrease money to get public school. Kids back in class because unions are holding teachers out. We have twenty billion to get kids back to school on top of the roughly sixty six billion which is on top of the fifty seven billion schools. Normally get. we can get kids back school without kind of bailing out. The teachers unions a biden administration official says they stand behind their proposal but are willing to
US trade deficit jumps to $68.1 billion in November
"U. S. trade deficit reaches its highest level in fourteen years the commerce department says the trade deficit jumped to sixty eight billion dollars in November the highest monthly deficit since August two thousand six the gap between what America buys abroad in what it sells abroad increased eight percent from October I nearly three percent increase in imports overwhelmed a roughly one percent rise in exports for the first eleven months of twenty twenty the trade deficit stands at more than six hundred billion dollars that's up nearly fourteen percent from the same period in twenty nineteen Mike help in Washington
Democratic Control of Congress Would Bring New Risks for Stocks
"Watching developments around georgia's senate runoffs with these elections set to determine control over the chamber and the balance of power in congress so far investors have largely assumed that republicans will maintain control of the senate albeit with a very narrow majority given. The party's recent tendency to wins in seats especially in off cycle elections still polls so far have shown a razor thin lead for both democratic candidates voting for the elections ends on tuesday georgia assigned republicans. So far have fifty seats in the senate. Democrats forty eight meaning that a democratic sweep of both seats in the state would give them a majority. Since vice president-elect kamla harris would be able to cast tie-breaking votes under a republican controlled. Congress president elect joe biden would have limited latitude to advance many of his campaign promises including raising corporate taxes and minimum wages and unveiling reforms around education housing and climate change which could all impact various pockets of the market but under a unified democratic government. A larger additional stimulus package that could further boost the economy in the near term. Might transpire a senate with a democratic majority with the to greater fiscal stimulus. We would expect around six hundred billion dollars more on top of the recently enacted nine hundred billion dollars but would also likely mean tax increases to finance additional spending goldman sachs. Economists led by jahn hotseat said a note tuesday regarding the ladder we would expect that an evenly divided senate would approve only of the tax increases. The biden campaign proposed for markets oppenheimer. Strategist john. stolis said in a note monday. He believed democratic. Sweep in georgia could spark and as much as ten percent decline in the s. and p. Five hundred from year end closing prices.
Facebook and Antitrust
"Beginning to look a lot. Like sherman. Senator john sherman. That is who in one thousand nine hundred ninety sponsored the antitrust law that bears his name one hundred thirty years ago he pronounced quote if we will not endure a king as a political power. We should not into her king over the production transportation and sale of any of the necessities of life on february. Eighteenth one thousand nine hundred to without any warning. The president ordered his justice department to file suit against one of the trust. In which j. p. morgan had major interest the northern securities company. Its goal was the monopolistic control of all of the railroads between the great lakes and the pacific ocean. Since then other powerful repressive kings have been dethroned from standard oil to eastman kodak to at and t. and t.'s. Dogwoods as good as gold. It was independent on our currency. It was gold. Now it's gone. That was one thousand nine hundred eighty four. This is now twenty years into the digital century. Big tech remains supreme. All but unchecked by law and regulation the so-called duopoly of google and facebook valued at just under two trillion dollars between them control thirty five percent of the six hundred billion dollar global advertising market. Not to mention evermore of our personal lives. This is harvard. Professor emeritus shoshana zubov in the documentary. The social dilemma. Facebook discover that they were able to affect real world behavior and emotions without ever triggering. The users awareness. They are completely clueless in the past. Ten days came a storm first week before last. Forty eight states and territories along with the federal trade commission filed suit against facebook that suit alleges that facebook bought up rivals with the explicit intention of stifling competition legal filings include an email from mark zuckerberg in two thousand eight in which he allegedly said quote. Better to buy than to compete. And then this past week. A second thunderclap. When texas's attorney general announced new antitrust charges against google the suit claims that google in a conspiracy with facebook abused its market power to chip away at consumer privacy protections and rig the advertising market. But if you think they trust busting senator. Sherman has come out from decades of hiding. That's not quite the case for decades. Antitrust doctrine has been fixated to the exclusion of everything else on harm to the consumer as measured by out of pocket costs social media mind control and the erosion of democracy do not fit into that calculation that sort of the traditional metric that we've used to bring antitrust cases and to really understand and measure consumer harm. It's been those price hikes that really hit consumers pockets Vossen author of the twenty two thousand nine paper. The antitrust case against facebook and illegal consultant in texas suit is on the leading edge of an evolved antitrust doctrine based on harms not necessarily inflicted at the cash register for example invasion of privacy on a grand scale. I just found it so interesting. You know why is it that the communications utility in the twenty first century that all consumers use essentially conduct something similar to surveillance. You sign up for facebook and facebook not only monitors your communications on facebook but even when i go to for example the new york times in the morning facebook is making a record of that and it is extracting from consumers the permission to basically track them across the internet. And it didn't seem obvious to that. Consumers would sign up for that proposition is something that they really liked. It's also a bit ironic. Because as i understand it. In the beginning. Facebook was favorably compared to. Let's say my space in early social network where your personal profile was at least one point. Public and facebook was theoretically an antidote to that. That's right if you go back in history you see how. Facebook entered the market with very firm. Privacy promises it got users to choose facebook over other competitors in the market and only after it gained market power and competitors exited the market. Was it finally able to extract this sort of surveillance term from consumers a large and you contract that facebook's growth goes up privacy protections straight down that's right and the fascinating thing about the new york attorney general's suit last week. Is that internal communications. Confirm that that's indeed. How facebook internally was considering strategic moves about decreasing users privacy. I don't remember another case that has been brought in a market where the price is zero and the government is deciding to defend the people based on things like a lack of innovation in the market. A lack of choice. Everybody uses facebook to stay in contact with their friends and family. And then just privacy harms.
Europe gets new blast of stimulus to counter virus surge
"The European central bank is on the east another six hundred billion dollars as a stimulus to counteract the negative effects of crime virus some pre Christmas sales went to such an infection shut down large parts of the European economy ahead of the region's most important holiday ECB president Christine Lagarde said something was needed to help certain sectors of the economy in the manufacturing sector continues to hold up well services activity is being severely curbed by the increase in infection rates the new restrictions on social interaction and mobile the twenty five member governing council decided to increase its bond purchase stimulus to two point two trillion dollars the bond purchases help keep credits affordable and available across the economy for consumers businesses and governments I'm Karen Thomas
Supporting the full consumer lifecycle: A discussion on employee savings strategies with Alight
"In today's episode. We speak with carly dunkelberg. Karen frost of a light solutions about the impact of covid nineteen and the economic recession on healthcare consumers ability to save we consider a range of strategies. Employers can use from lifestyle cards to account seating to support employees during times of hardship and set them up for long term. Financial success right. This is carla dunkelberg. Her and i am the vice president of sales for a light smart choice account sales team. I'm curious frost. And i lead our solution stretch. Help business at a light. Karen for those in the audience listening. That aren't familiar with the light. Can you give us a just a quick background on the company so a light is the legacy humid associates administration. This is so we used to be part of the who and he would at that point and just back in two thousand seventeen found off to a stand alone company and a light is focused on really all things. Hr we do health wealth. Hr and payroll management services to employers is that you're about five hundred lives in over If i look at the health book of business he served about fourteen million people representing about one hundred and set. I'm sorry seven hundred forty clients. And when i say health i need a whole variety thinks that starts with benefits administration including including cobra saying you know Aca compliance but we also do the rest of the circle so we have helped navigation services consumer accounts and his as benefit navigation services. So we if if it's an hr thing a like pretty much does me all right so the topic. The main topic for today is around savings and we know if you think about savings and spend sort of two sides of the same coin we know that cova nineteen has had a major impact on spending this year so it will start with the spending side of it. I'm curious what you guys are. Seeing at a light in terms of spend changes or trends may be karen. We'll start with you and then carly you can add to that if you want. Oh absolutely so. Let's think about this in two ways. So i would probably everyone on this call. His about is what you hear in the press around the significant impact on the delivery system. And so you heard things There was almost a six hundred billion dollar decrease in q two this year in healthcare spending But what may not be as widely heard his how. That's rebounded really starting in the late spring early summer and so i was just reading a kaiser family foundation report before coming out of this call in although there was about almost a forty percent decrease then in q two over the summer we saw spending rebound to all only about ten percent lower than prior years so we did see a big drop in things like elective surgeries. Those things that could be really delayed without significant long term impact on patients. But what we're starting to be more and more worried about are the things that could have long term impact like preventive care screenings cancer We saw a significant drop in that. Drop his remain and as we all know is you. Don't if don't find those illnesses early treating them that that charter later as well as more costly. And then if we think about the impact on people We see you know over. Forty percent of people telling us that they wouldn't care because they were afraid nearly three fourths of employers telling us that they're worried about an overstressed healthcare system and not being able to find a doctor one And then the impact of that with over fifty percent of people telling us that there's a negative impact on their overall mental wellbeing as a result of everything. That's fine out in the end. So we see an impact on the actual spending as well as people's outlook on future healthcare services.
PPP loan forgiveness gets underway
"So over the course this year. Roughly five million businesses. took out what we're known as P pee on. If. You're a regular listener to our show. You know back in the spring, we were getting one question after another another about how to apply for PP loans how loan forgiveness work what the rules were all of that. Well. Now, the questions we're getting concerned the other half of this and that is. The P P P loans part of the promise of them is that they were either partially or fully forgivable and became grants. If you matt the requirements of the program in how the money was used. and. Having people remain on your payroll who would have been laid off otherwise that's why it was called the payroll protection program. The idea was to hold down tamp down. The number of people across the country who would become unemployed due to corona virus well over the course program. Somewhere around. Six hundred. Billion Dollars. was lent out. The average amount that business guy was a little over a hundred thousand. Right, there were businesses that guy actually millions of dollars under the program, but most of the loans were smaller. So. The loan forgiveness. There are many businesses took out these loans that under the original P P P legislation. The use of the money and then calculation what would be forgiven and what amount would remain if any as a low interest one percent loan, one percent interest rate loan was based on the first sixty days the loan was in place. Those rules were changed later, but there are now. apparently COUPLA million businesses that have been waiting. To apply for either partial or complete loan forgiveness. And the Treasury has been twiddling. Thumbs. There's been enormous pressure from small business advocacy groups. From members of the House and the Senate. and. Now, the Treasury has officially announced that they are going to start processing. The applications for forgiveness. I'm sure the election calendar has something to do with it meaning that I believe there's going to be a window that the forgiveness process will probably work better. Than it will later on and certainly better than the non-functioning process that has existed to this point. The crossroads that we've been out with the House and the Senate not being able to come to any. On another P P P or something similar or changes in how forgiveness will work leaves the process in place there is an easy form for smaller borrowers and then a long form for bigger borrowers. I don't really care about the bigger borrowers. They've got their armies of the people are millions they've got their accountants and lawyers and all that. But for small business borrowers, the process seems dawning. The Ez pro form and process. Not. Easy but it is not horrendous and so I encourage you to check with the bank. Credit Union or lender of some kind. That, you did your initial application through and received your funds and see if they are willing to accept a loan forgiveness application. and. For smaller ones, the documentation is generally not horrendous. The expectation is that it will take about two weeks. We'll see. To, process an application for loan forgiveness if you use a professional payroll service for your business. ADP paychecks or any of the smaller payroll services they are set up to be able to give you the documentation for the payroll forgiveness part of European alone, and so if your lender is ready. And you get your paperwork together I recommend before the election that you go ahead and attempt your application for a loan forgiveness. because. That is something that. Is more likely. Because political pressure to happen more easily than it will once were out of the election cycle.
Fed's Main Street pandemic support program off to slow start
"Hi Mike Rossi a reporting the fed issues its first report on a program designed to help businesses during the pandemic a six hundred billion dollar federal reserve program designed to help small and medium sized businesses during the pandemic made just eight loans in its first month of operation the fed reports it provided seventy six point nine million dollars in loans since July sixth the largest loan for fifty million dollars went to a casino operator in mount Pocono Pennsylvania the main street program requires borrowers to make commercially reasonable efforts to keep their workers but it doesn't require businesses to re hire any laid off workers Thursday's report came one day ahead of a congressional oversight hearing on the program Mike Rossi a Washington
Fed's Main Street pandemic support program off to slow start
"Hi Mike Ross you're reporting the fed's mainstreet pandemic support program is off to a slow start the federal reserve says it made just eight loans in the main street lending programs first month of operation the fed made the disclosure in its first report on the program Thursday the main street lending program is designed to help small and medium sized companies get through the pandemic the fed has said it can provide up to six hundred billion dollars to cash strapped companies through the program but so far it provided seventy six point nine million dollars in loans and starting operations July sixth under the program banks make the actual loans but the fed will buy ninety five percent of the loan Mike Rossio Washington
Fed, Treasury Disagreements Slowed Start of Main Street Lending Program
"We are reporting disagreements between leaders at the Federal Reserve and the Treasury Department slow the start of a lending program aimed at helping small and mid sized businesses at issue, the term of the loans under the six hundred billion dollar main street lending program the Fed favored easier terms. The Treasury preferred a more conservative approach that's according to government officials. Treasury Secretary Steven Mnuchin, said the back, and forth was part of the process, and not because of disagreements, Fed Chair Jerome Powell said in June that the to work closely together and have been willing to learn from the experience.
Trump administration drops secrecy on small business coronavirus loans
"After continuing pressure to do so the trump administration says it will release details about which small businesses received loans from a six hundred billion dollar plus coronavirus aid program the government rocks dog say there needs to be more transparency even more to get an accurate picture of who got the money and who didn't on Friday the treasury department and the small business administration said they would disclose the names of small business owners who received one hundred fifty thousand dollars or more in forgivable
House demands coronavirus loan info from Treasury, banks
"The house subcommittee investigating billions of dollars in corona virus eighty is demanding the treasury department the small business administration and several large banks turned over detailed information about who applied and received federal loans the request coming after treasury secretary Steve Mnuchin told Congress recently the names of loan recipients of the amounts dispersed as part of the six hundred billion dollar plus paycheck protection program mark criteria information Democrats argue there's nothing proprietary or even private about public businesses are private businesses receiving public taxpayer
"six hundred billion dollars" Discussed on KTRH
"Hello everybody mark living here are number eight seven seven three eight one three eight one one eight seven seven three eight one three eight one one a couple days ago actually yesterday I guess the hell is today's date I don't remember anymore twenty seventh yesterday the brilliant Kimberly Strassel at Wall Street journal big government contagion Senate did something good Wednesday night she said passing a bill to inject liquidity into a virus ravaged economy it also did something dangerous requiring the public to be on guard members of Congress are pointing out the many parts of society aided by the coronavirus aid relief and economic security act styled the cares act checks for American families some three hundred seventy seven billion for small business help for air carriers and other industries money for hospitals missing from their list is an important category which underlines an inescapable fact government mostly cares for government bills that hand out money a written by appropriators appropriators never miss an opportunity to expand departments agencies bureaus and commissions a rough calculation suggests the single biggest recipient of dollars that is tax dollars to this legislation far in excess of six hundred billion dollars is the government and the president just spoke of a possible additional massive spending bill for the government states the line now between the federal government the states is really nonexistent who's responsible for what it's the virus the virus ladies and gentleman with all due respect we've had civil wars we've had world wars we've had pandemics nineteen seventeen eighteen we've had they're all horrific the time to stand up for the constitution is now again I am not opposed to extraordinary temporary access but mass a profligate spending is something we can't fix once it's done and it's becoming commonplace in Democrat and Republican governments they don't even tap the brakes a rough calculation far in excess of six hundred billion dollars that's twenty five percent of the so called spending bill some of this money is required Washington to the states are devoting significant resources to the virus response and the billion marks funds for many specific in warranty purposes a great deal the cash is going to frontline agencies the CDC the FDA the bill sends money to the bureau of prisons to help control the virus spread among inmates to the IRS for an extended tax filing season to the TSA for cleaning and sanitizing sanitization a check points with the amounts of it exists excessive no doubt but let's not quibble more concerning is the extent to which Democrats used the bill to tighten every fire of the socials fiber rather the social safety net put aside the two hundred sixty billion for unemployment benefits potentially necessary light of record jobless claims they both rushed twenty five billion more food stamps and child nutrition twelve billion more for housing three and a half billion to states for child care thirty two billion for education now why would that be when there's very little that going on right now nine hundred million at low income heating assistance fifty nine at legal services for the poor and so on and so forth this is a massive expansion of the welfare state seemingly with no regard to the actual length of this crisis she racked there's also the money appropriators through a government for no purpose other than throwing every outpost gets dollars most friend nothing more than the general command quote to prevent prepare for and respond to the coronavirus unquote NASA gets sixty nine has the virus infected the sun's corona the National Archives gets eight billion look put the virus on display many departments get cash for research regardless of the relevance to today's medical crisis perhaps the energy department will use its additional ninety nine million dollars in science to gauge how the virus response to a nuclear reactor then there's the outright pork the fire service gets three million for quote forest and rangeland research twenty seven million for capital improvement and maintenance seven million for wildfire management the bill shovel seventy five not keep in mind this is in addition to a four and a half trillion dollar budget this is additional the bill shovel seventy five million to the national foundation in the arts and the humanities twenty five million in the Kennedy center and I'm not seventy eight thousand dollars to the institute of American Indian Alaskan native culture and our development a water project in central Utah gets half a million appropriators can sneak a lot into a hundred eight hundred and eighty pages the bill sent a hundred and fifty billion listen to this because the president just talked about another bill for states the bill sent a hundred and fifty billion to state governments on top of the dollars for unemployment healthcare and education of the states get some of this money will be used to backstop local governments struggling with virus response and with the economic consequences of the shut down but for all the democratic demands of oversight on the bills business loans the state dollars have no real strings attached should a locality choose to use it styles to create new nonsensical business regulations well so be it and Republicans waved much of this thrill viewing it as the democratic price for urgently needed business liquidity but they should understand the left has every intention of making the spending levels the new normal long after this virus has passed long after the economy is recovering Democrats will cry foul at any cut and should they win the presidency of the Senate this fall the chances of rolling back any of this very unlikely so four and a half trillion dollar budget will quickly become a six and a half to seven trillion dollar budget the bill's real failure is that it makes no distinctions between temporary and permanent expansion of government the state is a role in short term crises and lawmakers have an obligation to allocate the resources to respond but Democrats successfully exploited the crisis to expand the power of government over law perhaps for the long term that's especially perverse given it was government that imposed the restrictions that shut down the economy necessitating this risk yet this rescue bill in the first place the trump administration and GOP lawmakers should have been making this distinction all along and they'd be wise to start reassuring voters immediately their intent to rationalize the system once the urgent moment passes coronaviruses done enough damage we don't need it to also become the excuse for a permanent government power grab have you heard anybody in the media the administration leadership Republicans in Congress say that in other than here seriously have you it's going on is is is is worrisome to me because now everybody's talking the Chad president just sign this bill today M. pelo see McConnell and now at this press conference the president's talking about another bill for the stage in other states need money for everybody needs money the economy is not always floating along this is the first time we've had a recession and a bad recession no whatever the cause a virus the economic system a war why do we why do we swing toward socialism they're bragging in the administration about we're gonna have an equity position with the airline that government should have nothing to do with owning airlines well you know mark that did get tarp funds I don't care the government can run the government the state battle it isn't bad let's get the planes now let's get the rest well let me ask you this if that's the logic then every small medium and large business the kids alone now from the federal government should be on a percentage of them is that's what we got is that where we should go with this these states make decisions particularly these democratic governors they make these decisions they make their priorities what what kind of consequences there when you are going to make up the difference all the time I don't even talk about health care our lives are this virus what kind of consequences it when the federal government steps ARE what will fill the gap flattening curve fill the gap whatever you know some of you don't like what I'm saying but one day you'll understand when it's too late for you see I could sit here quietly I could I could be a rocket dance across the stage not very easily of course I can be a pompom Boyd a pompom girl for what the government's doing I can say Hey I got my letter from the department of homeland security I remember the day when there wasn't a department of homeland security I've got my picture I've got my I. D. I've got my I got my take class right yeah and my car and I could just sign a lease know that the vast majority of you don't but that's not good enough for me that's not good enough for me and I want somebody to explain to me the call this program is to produce a leave a line open I want you to explain to me how Gigi paying as our friend and house Tom Massey is the enemy I want to explain this to me I want to explain to me how this slob Gigi paying this genocidal maniac who is preparing for war against our country who has stolen our technology stolen our jobs they covered up this pandemic which had listed on the world and particularly our country many of you are suffering from it some of you your family members have died from it some of your unemployed as a result of it how he's a good guy by Tom Massey's enemy number one I want you to explain that to me and help manage it blows you can hold this damn stuff up for a week and this guy went to a vote so you know the people that know how your representatives vote she says the members home that's on her he wants a vote just like they had in the Senate and he's supposed to be tarred and feathered I'm not buying it I'll be right back.
"six hundred billion dollars" Discussed on KTOK
"Hello everybody mark living here are number eight seven seven three eight one three eight one one eight seven seven three eight one three eight one one a couple days ago actually yesterday I guess what the hell is today's date I don't remember anymore twenty seventh yesterday the brilliant Kimberly Strassel at Wall Street journal big government contagion Senate did something good Wednesday night she said passing a bill to inject liquidity into a virus ravaged economy it also did something dangerous requiring the public to be on guard members of Congress are pointing out the many parts of society aided by the coronavirus aid relief and economic security act styled the cares act checks for American families some three hundred seventy seven billion for small business help for air carriers and other industries money for hospitals missing from their list is an important category which underlines an inescapable fact government mostly cares for government bills that hand out money a written by appropriators appropriators never miss an opportunity to expand departments agencies bureaus and commissions a rough calculation suggests the single biggest recipient of dollars that is tax dollars to this legislation far in excess of six hundred billion dollars is the government the president just spoke of a possible additional massive spending bill for the government states the line now between the federal government the states is really nonexistent who's responsible for what it's the virus the virus ladies and gentleman with all due respect we've had civil wars we've had world wars we've had pandemics nineteen seventeen eighteen we've had they're all horrific the time to stand up for the constitution is now again I am not opposed to extraordinary temporary access but mass a profligate spending is something we can't fix once it's done and it's becoming commonplace in Democrat and Republican governments they don't even tap the brakes a rough calculation far in excess of six hundred billion dollars that's twenty five percent of the so called spending bill some of this money is required Washington to the states are devoting significant resources to the virus response and the billion marks funds for many specific unwarranted purposes a great deal the cash is going to front line agencies the CDC the FDA the bill sends money to the bureau of prisons to help control the virus spread among inmates to the IRS for an extended tax filing season the TSA for cleaning and sanitizing sanitization a check points with the amounts of it exists excessive no doubt but let's not quibble more concerning is the extent to which the Democrats used the bill to tighten every fire of the socials fiber rather at the social safety net put aside the two hundred sixty billion for unemployment benefits potentially necessary light of record jobless claims the bill throws twenty five billion more food stamps and child nutrition twelve billion more for housing three and a half billion to states for child care thirty two billion for education now why would that be when there's very little that going on right now nine hundred million at low income heating assistance fifty nine at legal services for the poor and so on and so forth this is a massive expansion of the welfare state seemingly with no regard to the actual length of this crisis she racked there's also the money appropriators through a government for no purpose other than throwing every outpost gets dollars most friend nothing more than the general command quote to prevent prepare for and respond to the coronavirus unquote NASA get sixty nine has the virus infected the sun's corona the National Archives gets eight billion look put the virus on display many departments get cash for research regardless of the relevance to today's medical crisis perhaps the energy department will use its additional ninety nine million dollars in science to gauge how the virus response to a nuclear reactor then there's the outright pork the fire service gets three million for quote forest and rangeland research twenty seven million for capital improvement and maintenance seven million for wildfire management the bill shovel seventy five not keep in mind this is in addition to a four and a half trillion dollar budget this is additional the bill shovel seventy five million to the national foundation in the arts and the humanities twenty five million in the Kennedy center and about seventy eight thousand dollars to the institute of American Indian Alaskan native culture and our development a water project in central Utah gets half a million appropriators can sneak a lot into a hundred eight hundred and eighty pages the bill sent a hundred and fifty billion listen to this because the president just talked about another bill for states the bill sent a hundred and fifty billion to state governments on top of the dollars for unemployment health care and education of the states get some of this money will be used to backstop local governments struggling with virus response and with the economic consequences of the shut down but for all the democratic demands of oversight on the bills business loans the state dollars have no real strings attached should a locality choose to use a stylus to create new nonsensical business regulations well so be it and Republicans waved much of this thrill viewing it as the democratic price for urgently needed business liquidity but they should understand the left has every intention of making the spending levels the new normal long after this virus has passed long after the economy is recovering Democrats will cry foul at any cut and should they win the presidency of the Senate this fall the chances of rolling back any of this very unlikely so four and a half trillion dollar budget will quickly become a six and a half to seven trillion dollar budget the bill's real failure is that it makes no distinctions between temporary and permanent expansion of government the state is a role in short term crises and lawmakers have an obligation to allocate the resources to respond but Democrats successfully exploited the crisis to expand the power of government of a law perhaps for the long term that's especially perverse given it was government that imposed the restrictions that shut down the economy necessitating this risk you this rescue bill in the first place the trump administration and GOP lawmakers should have been making this distinction all along and they'd be wise to start reassuring voters immediately their intent to rationalize the system once the urgent moment passes coronaviruses done enough damage we don't need it to also become the excuse for a permanent government power grab have you heard anybody in the media the administration leadership Republicans in Congress say that in other than here seriously have you it's going on is is is is worrisome to me because now everybody's talking the Chad president just sign this bill today M. pelo see McConnell and now at this press conference the president's talking about another bill for the state you know the state's need money for everybody needs money the economy is not always floating along this is the first time we've had a recession and a bad recession low whatever the cause a virus the economic system a war why do we why do we swing toward socialism they're bragging in the administration about we're gonna have an equity position with the airline that government should have nothing to do with owning airlines well you know mark that did get tarp funds I don't care the government can run the government the state battle it isn't bad so let's give the planes now let's get the rest well let me ask you this if that's the logic then every small medium and large business the kids alone now from the federal government should be on a percentage of them is that's what we got is that where we should go with this these states make decisions particularly these democratic governors they make these decisions they make their priorities what what kind of consequences there when you are going to make up the difference all the time and I'm going to talk about health care our lives are this virus what kind of consequences it when the federal government steps ARE what will fill the gap flattening curve fill the gap whatever you know some of you don't like what I'm saying but one day you'll understand when it's too late for you see I could sit here quietly I could I could be a rocket dance across the stage not very easily of course I can be a pompom void a pompom girl for what the government's doing I can say Hey I've got my letter from the department of homeland security I remember the day when there wasn't a department of homeland security I've got my picture I've got my I. D. I've got my I've got my take class right yeah and my car and I could just sign a lease know that the vast majority of you don't but that's not good enough for me that's not good enough for me and I want somebody to explain to me the call this program is to produce a leave a line open I want you to explain to me how Gigi paying as our friend and house Tom Massey is the enemy I want to explain this to me I want to explain to me how this slob Gigi paying this genocidal maniac who is preparing for war against our country who has stolen our technology stolen our jobs they covered up this pandemic which had listed on the world and particularly our country many of you are suffering from it some of you your family members have died from it some of your unemployed as a result of it how he's a good guy by Tom Massey's enemy number one I want you to explain that to me and how many G. plus you can hold this damn stuff up for a week and this guy went to a vote so you know the people don't know how your representatives vote she says the members home that's on her he wants a vote just like they had in the Senate and he's supposed to be tarred and feathered I'm not buying it I'll be right back then this is what's happening we're doing everything we can Democrats have a good plan listen to the first solar energy and wind insiders for Maryland that is a wish list for workers are you kidding me get the latest update to shop at the top and the bottom of the hour this is going to this.
"six hundred billion dollars" Discussed on KTAR 92.3FM
"Two thousand four mark Zuckerberg launched Facebook it seems like everyone has a profile there are over two point three billion Facebook users but it started as a much simpler endeavor Zuckerberg and his Harvard friends created a website exclusively for students at the school they call it face mash the concept was simple users would see two photos pop up and they would vote on which person was hotter yeah that was Facebook in the beginning but it evolved into a true online book of faces they changed the name to the face book six days in they were sued for stealing the idea from other students a month and half of the school had registered a few more weeks in it spread to Columbia Stanford and Yale and just a few months in the Facebook was operating in most major universities in North America fast forward over fifteen years and Facebook is now one of the main tools of communication news distribution content sharing and advertising in the world the company is valued at over six hundred billion dollars in Zuckerberg's net worth is over seventy billion so the guy that created a website where you can vote on who's hotter yeah he's a self made billionaire because of the site that he launched on this day in two thousand four it's five twelve Arizona's Republican senator knows what she wants to hear from president trump during his state of the union address tonight K. T. A. ours Peter say more joins us now live from the news center well Becky senator Martha make Sally wants president trump to brag about the great economy roll backs of taxes and regulations and military expansion and of course take credit for all of that when he addresses the nation tonight so there's a lot to try and remind people of the think they're having out there aside from the division and the distractions that tends to be the focus she also tells Gatos and chatter special guest of the state of the union there's hope and heaven Harrison of Tucson they lost their father and husband and father Dustin in Kenya in a terrorist attack last month he was a defense department contract pilot and will have full coverage of the state of the union starting at seven right here okay TA are live in the newscenter Peter say more KTA orders T. A. R. traffic traffic trouble on that New South Mountain freeway let's find out more from detour Dan in the valley Chevy dealer traffic center what a mess back you an account at over forty people on scene at one time there between all the people that were involved in all the firefighters and first responders what a mess northbound lanes of the south south in South Mountain freeway two oh two at Buckeye all closed no estimated time of reopening by the size of the debris field and also the spill it could be awhile before you get these lanes Bob back I would stick with the I. ten is a mainline freeway but otherwise your mile and a half south of the I. ten if you want to take your chances you just got to get to the exit and there's a mile and a half traffic backed up trying to do that thirty seven minute ride stop by one oh one **** last right Frank Lloyd Wright Boulevard to the Santana twenty eight minutes on the sixties bout I. ten east out the Ellsworth twenty two minutes on the I. ten eastbound split to the Santana the traffic report brought to you by ET Marshall jewelers at ET Marshall jewelers they've built a large inventory of diamonds of all shapes and sizes right now they're offering their diamond inventory added below wholesale prices visit ET Marshall buys dot.
"six hundred billion dollars" Discussed on KSFO-AM
"Because this thing has it's decreased is now a category three not not to dismiss a category three army my gosh I would want to be in the eye of that storm. but it's good it just skirt up along the coast it might it might brush North Carolina into this week. that's it it's it's it's hurricane season it's been a very lack luster hurricane season by the way and now we're getting towards the end of the hurricane season I might add. despite al gore's predictions a decade or so ago of they're going to be more hurricanes than ever because of global warming just the opposite of occurred seriously just the opposite has occurred. this last the normal. but I digress is Alfa do here in the case of a morning show. so that's the hurricane story. the other big story in the news well let's get to trump's tweets I wanna I want to give an entire segment to the boat situation in southern California because we've had some really lumen aiding callers this morning so let's go to trump's tweets. there's Donald Trump let me see here. one hour ago we are doing very well in our negotiations with China well I'm sure they would love to be dealing with the new administration so they could continue to practice their rip off you essay. to the tune of six hundred billion dollars a year. sixteen months plus a long time to be hemorrhaging jobs of companies a long shot and then I think what happens to China when I win. so trump saying. China is hoping.
"six hundred billion dollars" Discussed on Bloomberg Radio New York
"What happens with a cracked down on you know what usually start out as peaceful protests do you think it's having other our chief north Asia correspondent joining us outside the term comes under pretty eventful morning for all of us here still with us is Hannah Anderson JP Morgan asset management global market strategist I have to wonder I mean we talk about the economy it's slowing and they don't talk about this growth forecast cut to zero to one percent were or have seen some fiscal measures here but I mean what's your view on the on the equity market in Hong Kong here at the moment do we do we consider this as noise or do we have to kind of ignore it from an equity market perspective you see that the Hong Kong stock exchange is not immune to the global worries that we've just been talking about all morning additionally there's some additional risk that investors are pricing and based on the turmoil the political turmoil here in Hong Kong but you have to remember that most Hong Kong located companies Sir things list on Hong Kong change the battery the revenues are coming from Hong Kong and so aside from a couple of property names looking at global growth you're looking at the broader China complex and the worries there have also dragged down some of the equity market performances here which is why you're seeing Hong Kong lacking a couple of the other global indices so would you buy weakness in Hong Kong I mean they're so some companies that are listed here that perhaps actually are as you mentioned not connected to the whole political situation here could be your opportunity there are certainly buying opportunities for Taylor for companies are levered more toward the consumption side within broader Southeast Asia on so I think for certain investors that are willing to take that tactical risk in willing to sit through the volatility that's coming in the next couple months I think to global equity not just Hong Kong it could be it could be potentially us you know some good names on sale but how can someone are you reports that you know funds invested is getting the money out of Hong Kong and perhaps to places like Singapore well they're always reactions within the whenever there's political turmoil of certain investors coming out and saying well they just don't like the risk and they're going to move their money elsewhere that's a natural reaction we've seen that in Europe we've seen that in Hong Kong tonight in mainland China and Singapore before and so whatever there's research certain money it's gonna be a little more anxious and that's an individual investor call because we all have different tolerances for the level of volatility markets and like I was just saying when you have greater volatility coming equity markets which I think you're gonna see an arrest back after this year for some investors that just might be too much to handle five hundred to six hundred billion dollars of value wiped out Hannah Anderson JP Morgan asset management global market strategist thank you so much for that Bloomberg subscriber you can catch up with all our interviews for using our interactive.
"six hundred billion dollars" Discussed on Bloomberg Radio New York
"Pro democracy protesters because two days of chaos they were marred by violence in clashes with riot police some demonstrators are apologizing but they're not giving up their demands twenty three year old Alice we return to a quieter airport today and or give up until the government to respond to China is ramping up its rhetoric against the protesters leading the state department to warn Americans to be cautious if they visit Hong Kong Bloomberg irv Chapman has that part of the story the Chinese regimes use of the word terrorism to describe recent events reads like a rationale to intervene as their troops and police train just across the border Andrew bishop of signum global adviser said in a Bloomberg interview I don't think that the preparations are bluff for men to scare the protesters they're probably real preparations for a potential intervention if they feel that they have to intervene and they will issue said she Jean paying within for from president trump suspension of terror of the China holds the upper hand in the trade negotiations in Washington irv Chapman Bloomberg radio the protests are damaging Hong Kong's economy by one measure six hundred billion dollars in stock market value has been a race since early July the two Manhattan jail guards who reportedly fell asleep when they were supposed to be watching Jeffrey Epstein may have been too tired to stay awake the justice department says more than half the eighteen staff members on duty at the time the ACU sex offender killed himself we're working overtime the Associated Press reports wanted worked overtime shifts a number of days in a row in the other guard was on mandatory overtime working a double shift woman who claims the late financier raped her when she was fifteen is suing abstains of state and his long time confidant Killin Maxwell it's the first such case under New York law that took effect today now thirty two Jennifer a radio says Eckstine targeted her in high school leading to months of sexual abuse Hey rob me of my you made that a day my innocent my self worth her lawyer Dan Kaiser says Maxwell help recruit the girls it is clear that she played administrative role in securing recruiters that in turn recorded and groom these young girls Maxwell denies the allegations this lawsuit could trigger a wave of similar complaints and steam valued his assets of more than five hundred million dollars responding to criticism that is trade war is slowing the economy down president trump says the problem is the federal reserve not China he accused the fed of raising interest rates too soon and has been too slow to cut them in a tweet this afternoon the president called fed chair Jerome Powell clueless the president's immigration chief Ken Cuccinelli is defending his hardline stance in a CNN interview he expanded on his view that the welcoming words inscribed on the statue of liberty were meant for people who can stand on their own two feet well course that poem was referring back to people coming from Europe where they had class based societies where people were considered wretched if they weren't in the right class the administration is seeking to deny green cards to migrants to see government aid such as food stamps the FAA is banning some apple macbook pro laptops from flights after apple recalled the batteries because they could catch fire for a third straight day residents of new Jersey's largest city or given bottled water to drink authorities say they're working with federal officials to determine how widespread lead in Newark streaking water might be here's mayor Osborne aka we absolutely do not have enough information one way or another to determine whether the filters are working or not the city distributed those lead filters months ago the EPA says recent tests show.
"six hundred billion dollars" Discussed on Pen Pals with Daniel & Rory
"It's okay to say you fucking care yeah andrew you say like not no more of this when posted to protest the vietnam dude. They didn't have the fucking answer other than we need to leave. They didn't know how what that looks like but we were done so everybody started. I'd say no not this anymore night this yeah what's wrong with that care. I know god we went off but it feels good. It felt so good when there's a one letter episode folks probably picked up on that and if someone feels good because they're like oh dan roy said what i was thinking and that's how i feel and that felt really good then great great and people who disagree like i said there's going to be people who disagreed but i do care great. I love that. I love the u._k. And you coming from a different angle but the the the the overall situation and you'd have to be insane to convince me otherwise not the best we can do and that's not oh oh certain news outlets are reporting that this is the conditions and then other news as these conditions from what i can tell across the board and i look at all of them. It seems like everyone's is going yeah. These aren't great conditions so okay okay yeah. We're about have eight billion people on this planet if you can't figure out that the solution is not building walls and separation the only solution is coexisting. The only solution is going we cannot be. We can't look at this. There's going oh. We're all bunch of different colors. We better break up into colors if you can't see that the mosaic needs to be every color coexisting every person coexisting thing then there there is no hope there. Do you have nothing. The all you can do is peace. That's the only fucking way to do it and the only way you're going to get there is to eliminate your sense of self folks. I don't even know if what i just said is right but it sounded really fucking good and i read it on a mean two days ago. I love it. I love it and everybody wants to say to me. Something like well. Okay dan dan. I really liked the show but we don't agree what about flint flint to man. All these things are running at the same time. If some guy in fuck in the pacific northwest can and make six hundred billion dollars a year tax free. Maybe that guy can start chipping in a little bit more. Yes we can do it guys. Just ask yourself. If you care yeah that's it. I hope you do and i don't know sincerely. Care man care is care you something that shows you. Josh cared a lot of paper. Josh noticed the thing rhodus and who knows what the solution could lead to <hes> if if there is one but he pointed out the problem so now it's something to think about. There are people who listen to this show who also go you know i noticed a bunch of robots paperclips sunray josh cinema josh because he's got ideas collectively. There are solutions solutions so knowing that everyone else knows the problem is a great great start. You wanna do something minor and just feel like you're doing something. Pick up some pieces of trash. Just start there. Just start start with something simple and then go. Oh maybe this is how i could feel my time by contributing because it actually feels good yeah. It feels better than opening a present watching someone opened on present you bought them. If that makes you feel good think about that for a lot of people it does. I'm not saying if you if you're not actually going to give totally fine but i'm a person when i watched someone open to give them like <hes> about that fucking get it doesn't mean we're not coming from the same place of selfishness. I want to see that burs over that because that makes me feel good picking up ten visit trash makes me go. I'm i'm helping this makes me feel good. Fuck make someone also making this making me feel good so do something positive makes you feel good. <hes> that's all i got repeater. Sincerely your pin bells gobal and daniel. They don't <music> podcast network..
"six hundred billion dollars" Discussed on KSFO-AM
"The defense versus non defense tends a time to be viewed as a Republican versus Democrat issue it's not let me be clear the Republicans will care very much about non defense as well and we will make sure that there's enough money to support the military and what we need to do in the military the VA and and and everyone else nomination referring to a dispute over how VA costs should be absorbed Republicans say they should be absorbed inside the six hundred billion dollars set aside for non defense agencies meanwhile house speaker Pelosi appears to be dropping a demand seven billion dollar car about to pay for the census house Democrats are planning a vote on a resolution that would condemn president trump's racist comments about for Congress woman of color meanwhile the president on Monday triple down on his tweets saying some people agree with him of those four freshmen lawmakers responded these are people that in my opinion hate our country now you can say what you want but get a list of all of the statements I've made and all I'm saying that if they're not happy here they do believe they can leave and you know what I'm I'm sure that they'll be many people that won't miss them I have a statement so they may and in one case you have somebody that comes from so my yeah which is a failed government a failed state who left to my Yahoo ultimately came here and now is a congresswoman who's never happy says horrible things about Israel Hey it's Israel hates Jews it sure is very simple this is the agenda of white nationalist whether it is happening.
"six hundred billion dollars" Discussed on From Scratch
"But, but you don't see that you spend zero days at Google, as you said before, working more full-time on fee axe. And you had mentioned at some point that in two thousand nine you lost twenty percent of your portfolio only to realize that you had to pay on top of that a one and a half percent management fee and that was, you know, one of the one of the points of hurt for you to start this company. Can you talk a little bit more about that? So tonight was terrible year on the market. And I've lost on my study found twenty percent. And in addition, they charged me one and a half percent management fees, and in I called him up and I said, look, I'm fustrated, right losing money, something that I can do by myself. Right. I don't need you to lose my money. And but you also charge me one and a half percent. And what they did they refund me the fees. And so initially, I was very happy with the fact that at least I recover some of the losses, right? But then I started to ask myself, why are they doing that? And I started to ask my friends, how much fees your pain. And they didn't know none of my friends, actually know how much fees they're paying and started to realize, hey, that it's a big thing here. If no one knows. And these are all smart people in these are all adult people, and they should have known, and they don't and I didn't know eater. And so that was the initial thought around that, that the maybe there is something that can be done. And it was only until two thousand eleven that I actually found the time to start building Phoenix. So that was, you know, the first indication, the second indication was, I was starting to explore how much fees I'm paying paying the Bank. And again, I asked out to ask my friends, and one of them told me that they get ninety percent these count on the Bank fees, but I shouldn't be telling that to anyone and asked him why he say, you know, the Bank told me not to tell anyone this is in Israel. This is a new. Israel. And so we started to investigate more and figure out that there's actually about four percent of the GDP in fees in Israel, and it's the same here for pretend that she'd EP six hundred billion dollars of fees that American pays every year. This is more than the construction industry. Right. This is more than entertainment industry. It's like an industry by itself, which is only fees..
"six hundred billion dollars" Discussed on Bloomberg Radio New York
"Conversations from Bloomberg television. Here's Tom MacKenzie. China's tech sector relies heavily on imported chips. Government wants local plans to switch away from American equipments as the two countries spa over trade, one company at the forefront of this push is horizon, robotics, develops chips to power surveillance cameras and autonomous vehicles, and it recently banks more than half a billion dollars worth of funding. Let's discuss all this was CEO UK six hundred billion dollars in the series funding. How are you prioritizing way you put that money to us? I think we are a technology savvy company. So, of course, soya invest the more money on talents on the technology development. And also expanding our sales and marketing team Thomas driving. That's the key focus view, and that is that what you see the greatest revenues longer term. I think autonomous diving is a long journey to go in particular in China, given the very complex traffic situation. We don't think, you know, forty autonomous driving. They'll be ready in the next, you know, say five years. So I think currently the main focus is for the driving assistance. Given thirty million new cars every year in China. I think this is already a huge market for the aid us driving assistance. You're more interviews like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Global.
"six hundred billion dollars" Discussed on News Radio 810 WGY
"Our legal analyst joins us on reaction. And what comes next when it comes to yesterday's guilty flee in case. Let's head live to Bloomberg. Patrice the corner. Money news. Good morning. All right. We've got features that are a little bit higher this morning. This follows stocks yesterday that rose and the s&p actually hit a four month high on signs the economy continues to chug along and inflation remains modest the s&p NASDAQ booth up seven tenths percent, the Dow industrials up six tenths Boeing kind of another story. Boeing shares were higher yesterday up about five tenths percent. They're flat for all intents and purposes this morning Boeing has more than six hundred billion dollars worth of orders for seven thirty seven max. And there could be some questions about this. Now, the US has joined other nations in grounding, the jetliner following a second deadly crash. The first seven thirty seven entered service in the late nineteen sixties. It is the industry's best selling model and Boeing's top earner, the re engineered max version has racked up more than five thousand or. Orders and Facebook advertisers, could be in for some refunds the social network ended services, including Instagram. What's happened messenger? Have barely been troubled by outages worldwide user, seeing only partially loaded pages or no content at all accompanied by a message saying an error had occurred Facebook continues to investigate but it did tell Bloomberg. It is also looking at the possibility of refunds for advertisers. Again, our futures a little bit higher SNP almost one point NASDAQ up about nine from the Bloomberg newsroom. I'm Patrice Sikora an eight ten and one zero three one WG y..
"six hundred billion dollars" Discussed on MacBreak Weekly
"You could you know, whether you're fixing when you're fixing in your house, but we should also remember that the K through twelve market is a six hundred billion dollar market. I mean, the total money. Education. So yeah, definitely six hundred billion dollars in. That's just K through twelve. It's it's a trillion dollar, Mark. If you get into the wider market. So it's it's not a it's nothing to education is not nothing to ignore. All right. Let's take a break in. Then we're gonna come back and talk about the twenty twenty one max at how very. Very different very different our show. Did they brought to you by so focus? We we are protected by invisible shield all around the twit studios. Powered by so fo-, cyber security so forces really awesome, anybody in enterprises well aware of so FO's, many of you are aware so force because for years we've recommended so forces online scan S O P H O S dot com to check for viruses, and so forth. So fo has also something really interesting, they are using now deep learning a very, advanced technology. Deep learning to fight bad guys always been a seesaw battle between. Hackers and defenders hackers come up with a new teak technique defenders, find a way to fight it and back and forth. But the problem is the hackers fast. And there's a lot of them. And there are a lot of zero days out there, and it gets harder and harder for security suffered to detect these. Viruses. That's why deep learning is. So important works like your brain with a neural network it interprets data and can respond to threats. It's never seen before with.
"six hundred billion dollars" Discussed on UN News
"To do with the stigma Norsar this conceptions about prediction in the time that you have had this deep and painful experience of diction. Do you think that there has been change in the understanding of addiction? There is a tiny Lyle tiny little bit of progress, but we have so so so far to go. You know at the time when we're losing a hundred people a day in the states last year was seventy two thousand in the states one hundred ninety thousand people internationally, and we're spending hundreds of millions of dollars. If you're gonna number in the US, it's six hundred billion dollars and internationally in the trillions of dollars. What are we rating for? But still there is the stigma still people don't want to name it still there is this assumption because it looks like it does not, you know, addiction outlook like other diseases because. You know, it looks like a choice looks like people choosing to use drugs, and they don't care about anyone else. They just want to be high, but nobody wants to be dictated. This this fantasy this allusion that people who are using drugs in that are you know, getting wasted. All the time that they're doing it because it's fun. It is not fun. They're in pain. I'm sure you lived. And I'm sure you saw every day. You know with with Chris he worked really hard on his sobriety. And the fact that one of the other issues were new say how far have we come? I'm glad that you said it because I hate to be the one being so negative feeling. A lot of times you'll be like don't be so angry don't be so negative. But the truth is that it's like baby steps in this realm of addiction. And I don't think the same exists in the in the mental health space. I think that it's it's improved vastly in somehow addiction stays out of the mental health space like they don't talk about it the same way. And so I just know that that with Christy worked hard into sobriety. And part of the. Of my outrage is that my husband should be here. And the fact that America across medical schools, only eight percent of medical schools have any sort of mandatory curriculum on diction. How is that possible? When we are losing one hundred ninety two people a day to overdoses alone that doesn't take into account all the other addiction related deaths. And that to me is like, it's unconscionable. It seems unreal. That that could actually be happening especially in America, right where we're dealing with this with the opioid epidemic. And I think that the conversation needs to change addiction, and what do we do in? How do we train our doctors because a doctor prescribed the wrong medication prescribed and over prescribed? He would never put a recovering addict on benzodiazepine. And especially not for so long and completely unmonitored. So and while I'm I of course, I'm very angry sident and hurt by this doctor who I trusted the truth is that when you hear that only eight percent of medical schools have any sort of required curriculum in two thousand nineteen it kind of feels like, okay. So he's not the only one would you agree with this? You came across as well. It was a nightmare. And sadly, it still is a nightmare at a time. When I was completely desperate out of my mind. Trying to save my son's life living with somebody who is using and their uses escalating, and it's sort of baffling. We don't understand it. And it gets worse, and it gets worse. And it's terrifying. Because we know that they can die any any day. We are thrown into this call it system. It's not a system, you know, I ended up sending my son to programs where they had him because he Br. The rules. I mean, here's a teenager who was breaking rules. But what teenager isn't gonna break the rules because he didn't make his bed properly. They had him in the bathroom with a toothbrush cleaning, the the ground and. That treatment for somebody. Who's sick one time? They had him outside cutting grass with a pair of sisters in the freezing cold weather, another time they had him. You're brushing a horse. And maybe there is something to horse therapy or something like that. But this is an illness. It's a brain disease, and that's not what people need. It's not how we treat this disease..
"six hundred billion dollars" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"We're going to hear from the fed today. It's going to be an exciting announcement or it won't be. I'm I'm sure that fed chair. Jay Powell hopes that it won't be. We're hoping that it will be an IRA jersey. Joining us now to talk about what some of the iterative fedspeak. We might just be hearing originally chief US interest rate strategist for Bloomberg intelligence. Joining us here in our interactive brokers studios. So IRA focus is really on the balance sheet. What is the absolute lowest amount that the balance sheet could be for markets to continue to function in the normal way. Yes or estimate for that is about another six hundred billion dollars lower. So you're talking about about three point two ish. Three point three trillion dollars on the Fed's balance sheet and the mechanism as to why that number's important is because banks hold these reserves they have to hold them. So so there's this fallacy that says banks aren't using their reserves. Well, banks are using their reserves reserves. Exist and the only way that the that reserves philosophical feels like they exist. It's like Descartes. It's like, you know, air or something, right? It just a matter of who's using it at any given moment. Right. If you're holding your breath, and I'm breathing. Then I'm using the air, you're not, but but reserves of the same way, right? So so some banks hold the lot of reserves other banks hold very few. But those reserves exist and get traded between between banks. So, but there is a point when these reserves are used in some calculations for Bank capital ratios, right? So this thing called liquidity coverage ratio where banks hold these. And if they hold held less than a trillion ish of them than banks would have to replace those reserves with something else and the most likely candidate would be treasury bills. And you're not seeing significant buying of treasury bills by Bank. So to me that that tells us we're not at this constraint level yet. And I think that constraint level is about another another six hundred billion dollars of runoff, which basically gets you into twenty twenty. So let's let's I think the last two weeks we've asked that question. I e. Do you think the fed is going to take its balance sheet to maybe a dozen different analysts in portfolio managers and pundits? And we get nothing IRA right off the bat gives us a number three point three billion reflecting trillion trillion will thank you. Thank you corporate. Right. The government world is trillion. Right. So six hundred billion right off. What is your sense of timing of that role often an tell us how the timing whether it's impacts the markets whether it's slower faster than what the market's discounting? Sure. So so the way that that run off is for the treasury per folio is that we know what it's going to be for the next year and a half. So because if the treasury has issued these bonds the feds purchase them and they mature at various points. So the fed balance sheet run of actually peaks in may and June of this year..
"six hundred billion dollars" Discussed on KGO 810
"And we have six hundred billion dollars their direct investment. Furthermore, one point one million Americans work for British companies here in the United States and nearly one point four million Britons work for US companies. By the way, bilateral trade and investment sports. Millions more jobs indirectly every single American state has jobs that are directly connected. To a UK company the five largest states in terms of employment bribery, firms number one is Texas. Number two is California. Number three is New York. Number four, Pennsylvania. Number five. This is US jobs for by British investment are all kind of high quality. They're more white collar jobs, manufacturing chemicals. Pharmaceuticals information technology financial services. I know a company in the mid west. I did work for that is owned by British military firm. They bought a bunch. They did. So a bunch of investments and kind of tertiary military law enforcement type companies here in the United States. That this is huge. The UK is the fourth largest export destination for American goods and services. There are fourth largest export destination. If they hit a huge. Recession because of a hard. Brexit were going to get hammered. Our exports will drop dramatically to the UK. We're we're there. They're they're they are our seventh largest overall trading partner,.
"six hundred billion dollars" Discussed on Exponent
"It's not clear that they're losing customers even in China there. Stalled base went up year over year, a point that cook was very careful to make and there's no evidence that people are switching away. And you know, we talk about are the critics finally, right? I think the answer is no because the critics are all about their weaving the iphone four something else. And again, even in China. It's not clear. That's totally the case. You know, they're not necessarily maybe buying the mate ten maybe overstay that a bit, but they're not going out and buying the new iphone either. And so it's definitely a big issue and a concern and the overshooting is a problem when it comes to how frequently they upgrade. But the good news for apple is is not like overshooting in the case of having a faster processor or better camera is gonna make people we've your platform like van this phones way too fast. I better get a different phone. I completely agree. I think it creates nerves, but it's not the same as the sky's falling in. And I think the distinction is a really good one it creates nerves because generally that is the first step in. Something else coming along that could potentially do that to the foreign. That's not to say that that thing is here or around the other reason, it is is just because as we're talking about right now, these companies are the largest companies in the world and people are muddling out. How that going to do in the future? There's six hundred billion dollars of whatever it is invested four hundred billion or thereabouts is being wiped off the value of it. And it's on the basis of how many of these new things can I sell. Yeah. They have some services revenue has we have talked about, but primarily it's driven around Sayles Jiro via quarter of a quota. And when you start to hit periods like this, the gross Stotts to stole narratives like this start to emerge. It becomes hotter to attract employees. Like, it's one thing. If you're going to work on the iphone back in twenty ten twenty eleven when this is the thing that looks like it can conquer the world. It's another thing when you're going to work on the iphone it's twenty nineteen. And it's ok you've hit one hundred percent market share. And it's not immediately clear what the new innovation is that you're going to bring to the phone that people actually really really get excited and care about. There are other issues from hitting that saturation point hitting that point of over serving customers. You're right. It doesn't mean the sky's falling. But it is a cause for concern. I think that's right. But I think apples in better shape than it seems and the reason is that would be contrary. But I guess that's the boy when they were flying high say what the project coming up and say, well, that's not actually that bad. But I'm going to be that guy. The because in the case of the sort of flat lining, the idea that mobile was gonna come along was pretty apparent for a long time. I mean, remember Microsoft started myself mobile in nineteen ninety nine or something like that. Like, it was clear that this was sort of coming. It's not super clear what is going to come replace the iphone again, there's no evidence that the iphone is in danger of being replaced by Android. Does it danger for these companies is never the direct competition the dangerous disruption? It's the thing. That's coming up on the bottom, right windows. Didn't. Become a west valuable business because of the MAC, it'd be viable business because of the phone right in this case, it's not clear what is going to come up under the phone, whatever it is going to be is a ways out, and to the extent, it is something that we can envision like augmented reality or wearables, or whatever it might be which company is pretty clearly I would say in the best decision. It's apple now, you could say that Microsoft is in the best of this as far as mobile, and that they had too much of a piece of Centric mindset, and they couldn't really understand how to shift their business model, which is the other big thing for mobile, and maybe that's the same thing for apple in case of what's coming next..
"six hundred billion dollars" Discussed on 760 KFMB Radio
"Because my bookie. Wants I refund. Well, I mean, how many low income families? Right. We rely on this every year because this helps us Pat our Bank account in order to get through the rest of the year. I mean, they could make case Afrique. So I don't know. Exceptions that are gonna there's there's a lot of case for a couple of people. I know that we're worried they. 'cause I I always pay, but I'm not worried about it. But I got other friends who pay their property tax in the state of Texas on December thirty first so, and then they hope they only have to be out that money for a month and a half because on their tax refund comes in and their tax refund. They hope will at least cover part of the cost. So that's in their mind. How they're thinking just one example, but many people depend on that tax refund. They're thinking about it all year. I don't think it's gonna go that one. Which brings us back to the question. Why are they meeting today? There is nothing. There is nothing to negotiate. What are the democrat as you said many times from the very beginning? When this all started, you said what's his bargaining chip? What do they want? How long how long before you ultimately have to reopen the government? I mean, you can't keep a close for two years. You want to keep it closed until June. That's not gonna happen. I suspect this is not going to go much longer. It could go till February first. But I don't think much longer after that eight six six ninety redeye agriculture secretary Sunday produce says America's seems divided on so many levels these days, I think our goal is public policy makers to connect America rounded, Evatt American. I know that connect America by bringing high speed broadband service to everybody in rural areas in a reef ceremony of USDA Thursday, Purdue liking congress for the six hundred billion dollars at gave USDA for a pilot project to demonstrate the best most efficient ways to expand rural Rodin service. But who said this reconnect.