35 Burst results for "Trillion Dollar"
Pelosi wants House to stay in session until COVID deal reached
"Speaker. Nancy Pelosi told, CNBC house will remain in session until lawmakers deliver the next round of covid nineteen relief that means no October recess. There's no compromise and that's a big deal for members of Congress. Up for election and that could mean, they will not get to go home to campaign ahead of. November and until now, there hasn't been much progress remember talks Congress broke down well, White House Chief of staff mark, Meadows told Reuters. There's now a one and a half trillion dollar proposal up for consideration it was drafted by a group of bipartisan moderate lawmakers. So some Republicans say it costs too much some Democrats say it fall short,
Why You Should Fill Out Your 2020 Census Today
"Are Introducing this week is not me telling a story but it's actually A really important issue that we wanted to bring to your attention and to help me do that I have asian-american advancing justices. Demographic Research. Program director. That's a mouthful. June Lim, who's WHO's here to talk about the census. So thanks for being here to do this and for our listeners sake especially those who have yet to fill out the census, they have relatives who haven't filled it out. Why is this census of particular great concern for us. Right. Now, what we see is is a very unfortunate because what we have seen as the administration's attempt to politicize the census s suppress participation ultimately really to shift political representation away from places with large immigrant communities, such as the Asian, American and Native Hawaiian Civic Islander Communities and other communities of color, and Water considered hard to count communities. and what we really want people to know is that regardless of political affiliation or ethnicity everyone needs to be deeply troubled by these attempts to undermine and risk misrepresent data from the census. And the reason is, is that we have so much to lose if people do not participate in the census. Yeah. I mean some states can lose congressional seats I was also reading that there's over a billion dollars in federal funding to over one hundred programs for the next ten years, there's writing on census twenty twenty. It's actually one point five trillion dollars federal funding. Okay. Okay. Okay. I was little off on my decimal point. Wow So, this seems this seems June to fit right in line with our current president and his administration Zena phobic anti immigrant position on. So many policies. Yes. Unfortunately, there's been a lot of anti-immigrant sentiment and fear mongering. In Administration's policies and also like we're really seeing it. Affecting. People's participation in the census. And we understand that because of this for many immigrants both documented and undocumented, there are significant fears about participating in the census. But. We need everyone to know that the constitution mandates that every person living in the United States should be counted in the census regardless of Citizenship Status and that privacy is of utmost importance and that there are strict laws in place to make sure that information is kept confidential. So. That's really important to emphasize right that I think the trump administration is these seeds a fear that yeah. If you fill it out and you're undocumented in particular, like can come get you and that's completely not true. Exactly. There isn't even a question about citizenship status on the census or immigration on the senses. So there is no way using the census data that received from the twenty twenty cents is that that information could be received and regardless of that any information that is like that is received by the census. It doesn't actually leave the census it only can be. Used for statistical this tickle purposes and in like more of a like for statistical purposes in an aggregate form and never by an individual responses. And the Census Bureau They've done something to the due day to right I mean this this. This is one of the reasons why we're doing this special announcement here an encouragement for people to hurry up and fill it out. Can you talk a little bit about what's what's happened? Yeah sure and there's been some new happening since then as well it's it's that ultimately because of everything happening with the pandemic this Census Bureau had to pause some of its. So, the census deadline was actually Extended until October thirty first to make sure that there was enough time for for people to self respond. But also to make sure that the the non response follow up period, which is when enumerators go door to door to take the responses of people who have not yet completed the census can be done in a fair and thorough manner and also taking in mind safety However, that was shortened to be it was to be rushed than leader change to be moved up to. September. Thirtieth. however, right now, there actually was a I think it was A. Temporary. Almost like a restraining order against a restraining order. That's exactly. that. Judge actually did. Accept that. So it is right now there's there's they're actually having a hearing. To See. What the date is going to be, and for now, the Census Bureau has to continue with its operations as planned and that being not necessarily what the short deadline but we we see how that could cause some confusion in the in the community. So really what we want to do is to urge everyone to fill out the census to day job. Because I, it's like we're not sure what the deadline is now because of all the things that are happening because they're so much advocacy taking place for a community. To ensure that we can have an accurate dentists count and really pushing for the October thirty first line However, we don't we don't know if it's going to land there on September thirtieth. So really the messaging we want to put out to our communities is to complete the Senate today.
Senate GOP's virus relief bill expected to fall in vote
"The Senate's facing a possible showdown today when he takes a test vote on a trim down virus relief package there have been pessimistic sounds coming from negotiators trying to reach a deal on a virus relief package before the November election even though Senate GOP leader Mitch McConnell says he's optimistic Republicans will support a pared down half trillion dollar package Democrats are dismissing the measure is insufficient they say it's too skimpy to help vulnerable people who've lost their jobs and are facing evictions while McConnell says Democrats are making unreasonable demands it's expected Congress will only pass legislation that over to federal shut down and then we'll leave Washington to head home to campaign Jackie Quinn Washington
AstraZeneca pauses coronavirus vaccine trial, shares slip on rollout doubts
"No Work? No pay no food coronavirus lockdowns have forced many people all over the world to wonder where their next meal's will come from according to Matthew True. Scott Oxfam International's head of Humanitarian Policy About one hundred and twenty one million people have been pushed to the edge of starvation. This year not of course is across the main hotspots you would expect Yemen Democratic Republic of Congo of Gunston Venezuela, south. Sudan we're also seeing hunger coming up in otherwise middle income or developing countries. India South Africa Brazil CETERA. Look at a situation in the world where you have about sixty sixty, one percent working in the informal economy when that denied that daily income forced to stay at home they no longer get that income and that forces them into some of the negative coping strategies and that's what makes this crisis so unique. People. Couldn't travel to work which meant they couldn't make money and they couldn't buy food but this isn't just a short term problem. Is it Yeah and it has sort of long term impacts where, for instance, if you take people who are living day to day selling milk, if they can't sell milk for a few days, it gets point whether then have to do something to have food and income then have to sell their means of income. So selling the cow which had been providing them and then conquered back to generate income and same happens instead of urban areas where people who had been, for instance, taxi drivers after. So long of not being able to take fares and give taxi rights eventually then have to start selling off assets to cope and that's where we're really. Seeing potential long-term structural breakdown, and as you say, this is a problem that existed before the pandemic. So how do we tackle it this time around does it require new solutions? It does with sort of proposing three solutions. The I of course is that we need to increase humanitarian aid drastically the U. N. Global Humanitarian Appeal has called for about ten point, three billion dollars in humanitarian aid. But only about twenty, four percent of that is funded. So less than a quarter, the second thing that we can do is cancelled some of the debt that could free up up to a trillion dollars, and then of course, the final thing is. Exactly, as you say, we do need to change how system works. We need to build a more fair and more robust food system. We need to build a system that's ready to deal with the climate shocks that's able to produce sustainable food. One that supports a small-scale Farmers Informal Workers, Matthew Scott head of humanitarian policy at Oxfam International. Thanks for your time. Thank you so much
McConnell proposes 'targeted' virus aid, Dems say not enough
"Amid gridlock over another corona virus relief package Republican leader Mitch McConnell says the Senate will vote this week on a scaled down version hopes for passing what would be the fifth relief bill or dimming the two parties are sharply at odds over the packages scope with Democrats pushing for more than two trillion dollars in eight McConnell's bill is about a quarter of that targeted proposal that focuses on several of the most urgent aspects of this crisis like school aid and money for vaccines and testing Democrats like Patrick Leahy want far more he calls McConnell's page woefully inadequate this proposal isn't skinny is the name Democrats are sure to block the deal during a test vote Thursday Sager mag ani Washington
The unbalanced stock market, why you should take a long term approach
"People. Get really excited about what's going on with. Their stock market holdings when things are doing well, and then they freak out suddenly when a market reversal and I wanted to talk about. What is normally a very volatile month September? Has Traditionally been a month that has been unsettling for stock investors but the reality is there are special things you need to be mindful of with what's going on on Wall Street and has been going on all year as I shared with you a couple of weeks ago. A huge percent of publicly traded companies have had a bad year with their stocks that the gains have been very heavily concentrated. In, just a small number generally of technology oriented companies. It was an item just few days ago about apple that Apple's value having reached over two trillion dollars in market value. That apple's market values greater than the entire two thousand companies that make up the Russell two thousand index. So think about that one company. Having more value than another two thousand publicly traded companies all added together. and. So you have apple and Amazon and facebook and with Gul's name now alphabet. And Tesla these companies alone accounting for a crazy amount of star stock market value. And The value of these companies. Is. Extraordinarily high versus their profits and these are companies that have performed very well. Because of. Oh and I'm sorry Tesla's not on the list, the five or Apple Amazon Microsoft Bet and facebook even though. Tesla's much in the news today with the declining share price. But those companies. have. A huge valuation right now versus their profits because they have performed well over the last many years. But now the values have been bid up to the point that each of them are priced for absolute complete total perfection and life is not perfect and then you strip away. The small number of technology stocks that have had a massive run up. The rest of a stock market that generally is very weak. So. I if you're stockholdings or digital. And you have put a huge amount of money at risk. In a tiny number of technology stocks know that you've got to be able to handle the downs as well as the ups. These companies are rock solid companies that may be overvalued right now but you gotta think about what your time window is if your time window short for a stock. And you're in a technology stock that's value is really run up. There's danger in U continuing to hold that stock. If you're playing long ball, you're in the long game, then not as much risk but look what can happen. So quickly, Tesla down something like fifteen percent. In trading today and it's because of a couple of things involving Tesla's specifically but technology stocks again, that have runway up in value. Are, much, riskier in the short term. and. You have to plan for that and be prepared for that. But you know, I'm such a believer in diversifying holdings. And, that's why. I don't play the individual stock game. I know that for a lot of people with Robin Hood in particular. Younger. Investors. Are. Bored by the whole index game that they wanNA play the individual stocks and stock market and even getting involved in things like options and this is. A potential way to make money and a short window it's also potentially a place that you can lose money. It's more speculative than traditional investing in know that the. Quote Unquote. Stock Market the overall. Stock Market is due for. A potential correction. And potentially a bear market, but when that will happen. Who knows that's why the core and the key for you is you don't WanNa, borrow money known as buying stocks on margin. At a time where things are very heavily over-valued potentially. and. Second. You've got to know that owning stocks is a longer term thing. Not Short term I know there are people that are doing rapid trading buying and selling with great frequency if that's something you enjoy. Go for it. It's just not my way of thinking or my way of doing things.
Hopes fading for coronavirus deal as Congress returns
"Hopes are fading for a corona virus economic relief bill as Congress returns talks broke off last month president trump says the blame falls on the Democrats I know Pelosi I know Schumer very well they don't want to make a deal the president says a three trillion dollar bill is too much he says democratic leadership has another motive they think that if the country does as badly as possible even though a lot of people are being hurt that's good for the Democrats house speaker Nancy Pelosi's response we're not budging after talks broke off pelo see said Republicans have to move why should there be a bill that has a a far less what the public needs we have that responsibility president trump says he is taking the high road and take it I wrote by not seeing them and Donahue Washington
World hunger problem can be overcome: UN envoy
"As one of Africa's foremost thought leaders and a powerful advocate for agricultural reform Agnes Kalibata is responsible for running the first ever UN food system summit in an interview with Common Lennon from you a news Miss Calcutta, the secretary general's own void for the event outlines the ways that food systems negatively impacting the world, and how she plans to use the summit to address these problems she began by knowledge that the term food systems is not widely understood and explain why it's important to tackle. The Issue Foods Seems Pretty Complex I. I personally did not understand the the whole complexity and breadth and. Depth. For. Systems until I started engaging on this, there's a tendency that. Across. The different areas that constitute food systems we each look at the areas that impact us the most I'm from an agriculture sector perspective. So I look at how we produce food and I focus a lot on on how would produce help boxes food but there's so many other perspectives of food systems we to produce food we used a environment and and this definitely environmental perspective one but. To to consume food, it goes through several stages several of puth several things happen this whole complexity of issues around food systems from how produce it to how we move it around detail it tall with techy to the folk at the to the table. And and how influence how think about all that? There's a whole lot of. Influencing the also INS in the food system arena with regards to to to how again how food is produced how is moved reaches the table that impact. So a behavior that impacts how we think that impacts our culture. Food Systems extremely complex. It's about people's beliefs. It's about People's cultures, but it's also about life and how we leave and so so about how interact with the environment and I think how interact with the environment is probably. The most important. Part of what has gotten us in this conversation, how we interact with the environment has resulted in a security from from a food production, assist him in impacting two things in impacting our climate. So because we do contribute to emissions but also in impacting by diversity and how diversity walks for us all and yet we know that they've they've versity besides having the rich life itself. We it's something that we need to be able to to live a full life. So those are two parts of impacting the environment, but there's there's another perspective of food systems are also impacting our health one in every three. People this. The let the biggest cause of today is is how eat the type of food we eat is on nutrition we still have. About six, hundred, one, thousand, nine, hundred people to. That even amidst the plenty because we do have a lot of food in this world. The plenty a still going hungry. And, then there's this whole challenge around. The fact that I talked about that, we have so much food being produced to the extent that one trillion dollars worth of food western every one trillion dollars worth of food. So so meaning, we could actually feed the people that are going hungry or with how much we stink. So that is another perspective and then I talked about the issue of equitable neighborhoods and access to food, and then the issue of just ensuring that we have resilience in food systems so that we don't have challenges as we've seen with COVID data result of. Our. Our reaching. Overreaching inability to to access food that ends up gritting what sorts of other problems. So in a nutshell. We have those challenges but I think the most important part of our food system, which is the reason we are having different systems summit. The most important part of all that is recognizing the. Despite what we able to do we are awestruck in all the digital set out the top to do with food systems whether it is reducing poverty. Or whether it is reducing hunger or were they tease nutrition and how nutrition for us whether it is how impacting our environment reducing West The the perspectives of our food system, that I'm putting impacted by this digits not working with and in many cases are truck. So so the whole complexity of all these things being of truck is really what lead to. The secretary general last year calling for Food System Summit Thou be able to look at the challenges that the summit. The I mean the food system is presenting, but also the opportunities that the food system does present if we if we choose to look at it from a different angle, and if we choose to do different things and this summit is really about helping US Open the world governing action and helping people choose to do things differently what for you a successful food system summit like? A successful food summit with first of all governor is all the people that we are looking to engage because a food system summit in each and every one of us. So for me, I see our ability to rich and NIA and be able to mobilize mobilize cautiousness around what is broken in our food system, and how often system should change would be point number one, govern ising energy, and stressed. in you will looking at food system. So that would be point number one. How would we mobilize or wild to cut our food system number two would be. Recognized that we are off truck, how will we set ourselves doucet ambitions for ourselves to do things differently, the number of areas where action has already been defined with look at parties. When you could digits most of the things I've already been defined. The question is we off truck. The question is we are not on missions and not much ink or our actions are not much inclined to have laid out to do. So the For me success would be that we raise the on Bishen too much what we have laid out as what we wanted to see we know what wants to see, but we are not raising mission high enough to be. Able to come through those things. So number three is that we when we do have some commitments around, we can do to raise those ambitions to the that will transform our food system to new type of system. So for me, those would be the probably the three most important things. As you say, there is enough food for everyone, but people are still starving the environment is still being damaged. How is this failing system evolved? We've we've built excesses within insisting that we probably don't need that for me that would be point number one again, I talked about the amount of westward within our system. Do we have to have that type of West? We've designed a food systems in ways that are not responding to what we need as people. Is it possible to step back and escort sims? What do we really need and how focus but we need more than what is good to have? So we already have the good thing is have that knowledge would did have a not a lot of knowledge are around what is good for us and what is good for environment also have a lot of merger on what we are doing wrong and also have a lot of noted including technologies around what to do differently. That's why talk about ambition that's why I took about committing to that ambition. So what we need, it's what we need to do is not rocket science. What we need to do mostly is about. Galvanizing mobilizing their level. Of Energy into our systems and red level of interest but also the right level of political commitments from within our countries where we need to do that. And but also one shouldn't forget is mobilizing the right level of engagement for more private sector because food systems. Much as impacts all of us, we also a different players in different places at different times, and we have a whole lot of of players that do do engaging in different places and the interest change and their willingness to change and their willingness to work with all of us to find the right pieces of the food system that should be going forward. When we agree on what needs to be abandoned is but is some is as much a public good as it is a private sector thing that must all come around around. An unreadable together and yes, it's true. We have a central group that is working to help us understand the evidence of where we need to be going and what we need to be taking forward. And these people are galvanizing. Evidence from one of the world and they're looking at a tweet has been working in different places and they're looking at what what would work for where we are going. So we are going to build a lot of Of what we take forward on on the evidence that the central could group that has been put together will provide for us as as what constitutes what going forward looks like what leap what what we leave behind looks like. So we are going to to really depend a lot on what descent sense group is going to tell us. Do you think it's going to be difficult few to hold together the
U.S. Debt to Exceed Size of Economy Next Year, a Postwar First
"U. S debt load set to exceed the size of the economy next year, So you take GDP, gross domestic product, all the goods and services produced in the country. Our debt next year will be higher than that. This year is going to be just below that number. But it's the first time since World War two. We've had a debt load like that. And of course, a lot of this has to do with the money spent. In the battle against Corona virus and to make up for the economic shutdown. And of course, we still don't have whatever the next stimulus deal may look like, but we know it's probably likely greater than a trillion dollars again, but still no deal reached in Washington.
Pelosi says Democrats, White House have 'serious differences' over coronavirus aid after call with Mnuchin
"Pelosi says serious differences remain with White House on another Corona virus relief package. That's Pelosi's assessment following her latest discussions with Treasury Secretary Steve Mnuchin. The two sides have been about a trillion dollars apart with an estimated 27 million people still receiving jobless benefits amid the Corona virus pandemic. The
Mnuchin Urges Congress to PassMore Stimulus Funding
"Still unable to agree on a new Corona virus stimulus package, the financial benefits Tens of millions of Americans began to depend on are now locked away by a political stalemate. But Secretary or Treasury Secretary Steve Mnuchin says a new package could be on the way as early as next week, Mnuchin testified before the House Select subcommittee on Or about paycheck protection funding. We have over $130 billion left in PPP, which I believe if Congress was willing to take up a standalone action to repurpose this money for additional funds. I believe this would pass with overwhelming support in the House and the Senate and I would encourage the House. To move forward with that House. Democrats passed a $3 trillion comprehensive measure in May, and Senate Republicans unveiled their own trillion dollar proposal in late July. Neither side has been willing to budge on how much money should be in the bill, and that's created the gridlock.
Impact Of Climate Policy On 2020 Presidential Election
"On the most recent Pew Research Survey of top issues for voters this year climate change despite even make the top ten. But not for Varsity precaut-, she's executive director of the Environmental Justice Groups Sunrise Movement. She helped editor book called winning the Green New Deal and her organization gave, Joe. Biden's initial climate platform, an f rating but as Biden became the likely democratic. Nominee for president precaut-. Joined his climate change task force to make sure aggressive climate policy had a place on the ballot this year when we spoke earlier today, I asked her about how you seen his climate policy shift while she's been helping shape it. We have seen his client plan improve considerably over the last three months now, championing policies to decarbonised our power. Sector by twenty, thirty, five, we've seen him increase the level of investment from a one point, seven trillion dollar green jobs and infrastructure plan to a two trillion dollar plan over the next four years on the whole our core goal was to go in and increase Joe Biden's ambition and the Taiwan upon which these benchmarks are happening to decarbonised economy and ensure that. Environmental Justice and climate justice except core and at the heart of his agenda climate seems to have fallen out of the headlines Lately. That's even with record breaking heat fires hurricanes. Instead, the news is dominated by pandemic and economic collapse racial justice. What's your level of concern that climate change may not be getting sufficient political attention and and how do you get that attention? I think the key here is to understand the climate crisis is essentially connected to every single one of crises that are emerging whether it is the uprisings against white supremacy or whether it is the tens of millions of jobs that are been lost in this economic downturn in large part I believe the climate crisis is even thinking because we have racial and economic inequality in this country for example, I believe that after hurricane. Katrina. We would've had a green new deal past fifteen years ago and yet here we are. Fifteen years later, we've got a double header storm and communities engulfs out. That are still suffering We would have had green new deal following hurricane. Maria when thousands more were ricans perished but because we do not value black lives and brown lives, indigenous lives, poor lives as much as others, we have not taken the drastic unnecessary measures to prevent suffering. Do you think climate plays out in local political races as well or do voters think of it mostly as something that has to be addressed on a national issue? Now, I think it absolutely plays out at the local level. The climate crisis take so many different forms in different communities in Iowa overseeing the role that corporate agriculture and factory farming plays as being really detrimental to communities for Detroit. The level of fuel infrastructure contributing to asthma and disease for the majority black community. Earlier, we have seen the election of drama. Or Eliot Angle in New York which Jamal Boom and actively ran and champions agree new deal when his opponent refused to do. So the climate crisis is affecting people at the local and state level not chest. Politics. So, have you thought ahead to if president trump is reelected? What will you approach be to try to advance your climate goals with a presidential administration that may be less receptive Joe Biden would have been. We're still figuring that out. What I'll say is everything that has happened with the green new deal at the federal level and many of the substantive state legislative battles that have been one have been under the shadow of the trump administration, and so I do believe that there is absolutely still space to fight and contests and win, but it will be far far easier. If we have item presidency, Vaujany precaut- is Executive Director of the Sunrise Movement and her new book is called winning the green new deal partially, thanks for coming on the program. Thank you so much
Steve Jobs was a genius, I was jealous of him: Bill Gates
"Hard to imagine Bill Gates the world's second wealthiest man being jealous of anyone other than the richest one. Of course, Amazon's Jeff bezos however, Gates said that he was once envious of Steve jobs genius and his motivational skills. He also said that jobs was the only person who could have made apple what it is today that's kind of a major concession from one of the world's biggest tech. Icons for Bill Gates to say he was envious of Steve Jobs Yeah well from what I've heard personally about Steve Jobs like his management style I'm not necessarily a fan of him buddy. I'll be one of the first to say that the guy was like a business tech genius Oh yeah I mean there's no way that apple could be what it is without him Oh of course not I mean. No question and I'm not an apple fan I don't drink the KOOL aid I don't own any products with a piece of fruit on it Cetera but I commend him obviously, he was a genius but I heard that he was kind of a hot head. I do know that when they were first developing the IPOD and they brought him the prototype he dropped it into an aquarium and he said. You see those air bubbles make it smaller. Yes. If there's ruined their air but it's too big and that's the style he was. But again, that's what made this company. Now, the the only company to reach two trillion dollar in value. Unreal. Unreal. But they didn't stay there for very long. They reached two trillion. I'm GonNa win who was big news that they were the company to reach one trillion. Yup and it was short lived. In terms of that, but it was and there goes again Bill Gates's common commending him for his motivational skills dropping that in an aquarium and stuff. It harsh. But it got the point across and it made their products better. So very
Should You Start Accepting Apple Pay?
"One of the reasons why I'm doing this lesson today on apple pay is it's something that I actually looked into a few months ago. I did a massive amount of research on. This is worth actually incorporating in our website in our payment process. Depending on your website could be something as simple as just flipping a switch or a custom solutions is can take some time and money in our case it's the latter. So I wanted to make sure before we invested the time in adding apple pay that is actually the right time to do it something that we should do now and will benefit us in the future. So I did all the research for you. Let me tell you what I think first of all, let's talk a little bit about apple pay is applebee's basically apple's mobile Wallet most of US know about apple pay because it's either incorporated in a iphone that you have or somebody you know that has an iphone were they pay Vajpai wave where they just you know bring their phone to credit card machine and a charges their account. This is just one aspect of apple pay, which is the NFC aspect the near field communication aspect where basically it's like the tap and go technology but apple pay is a lot more than you can actually pay via apple pay if you're an apple device for online transactions because has already secured safely your credit card information and really with a double click on your phone or A click of a gun on a laptop with a touch ID, you can pay for things the fast way you could pay for anything and many big websites have caught on said, wow, this is actually a very, very fast way for people with apple devices to pay for goods I'm talking about online websites not even in physical stores. If you're in a physical store is a no brainer. You need to have NFC technology where you have tap and go where you're utilizing the whether it's apple pay or competitor like Samsung's. Even some credit cards now that have that built in but when it comes to your online store, apple pay again is a fast way for people to just use the stored information that's on their device on their computer on their phone or on their ipad to pay for things with a single click. Now, what's intriguing about this technology is basically allowing your customers to have as fast as a checkup process as they do with something like Amazon where They save all your credit card information you add to car or you just pay immediately and it's done. Amazon's really locked that down and it's the one of the reasons why they have such rapid growth and Jeff visas as one of the richest men that ever lived in the history of humankind and that technology that fast checkout is one of the reasons why Amazon so successful. So imagine you can borrow the experience in put it into your own. Website and that's really why I wanted to look into this because it really allows people to have a seamless checkout experience. The step where you at your payment details online for any transaction is the step where you're going to experience the most friction. This is where there's the most likelihood for people to abandon car. You can remove that friction altogether with something like apple pay you are one step ahead you're really gaining a competitive advantage from your competitor. And allowing your customers have a better experience. Now, of course, this is only relevant for those who have vices, and of course, apple pay should be an additional form of payment. So they can pay by credit card that you pay by apple pay. You might even want offer pay pal. The point here is is that it should be in addition to traditional credit card payment and you might be thing wall You know how many people actually using this Will there's two stats that really compelled me to say this is an important thing to implement in your website number one, five percent of all transactions online are paid with apple pay already in two, thousand and nineteen it's five percent you can increase your sales. Simply by offering this okay. Second in just five years from now in twenty twenty-five, the projection is ten percent they're going to go from five to ten percent in that short amount of time one and ten payments online are going to be with apple pay. You might be thinking what else ago well, another thing that makes people believe the apple's going to take over the carless payment is the sheer growth of the company itself apples at a tremendous pace. It's already the most valuable company in the world just hit a two trillion. Dollar valuation the Most Valuable Company in American history apple has already started to sell products at all different price points and they're not just an expensive product. Now, where you know you buy an iphone for twelve hundred dollars, they have iphones for five hundred dollars. Now they have the I watched, they have ipads for four hundred dollars. The point is that they want to get you in the ecosystem as early as possible as many people as possible because in all of that they on the same kind of software that will incorporate. Apple Pace, you'll be able to pay for things on those devices. Even if it's a four hundred dollar device, it's not an expensive piece of hardware. So applebee's only going to grow and experts have already said that you know paypal still the leader in online transactions and online payments, but they're starting to lose footing an apple CERNA gain on them and it all has to do with the fact that it's so seemless in order for you to pay for anything on pay pal if you're on a website, you choose the. PAYPAL option, and then the next sends you to pay pal and then you've got to sign into your pay pal and then you've got gotta authorize and you have to confirm. So it's a few steps and then you go back to the car and then you check out with apple pay. The experience is literally just choosing applegate and checking out you know you're going to confirm on your device either through face id or with touch ID, and it's a done deal over.
Did ETFs Pass the 2020 Market Collapse Stress Test
"There's a paper issued by the Federal Reserve Bank of Boston titled The shift from Active to passive investing potential risks to financial stability. They right to the extent that passive investing is pushing up the prices of index constituents. Two types of potential repercussions for financial stability might arise. I in theory, rising prices can lead to more index investing and the resulting index bubble eventually could burst. But they point out that this might not be the entire market but could be just elements in the market some stocks getting pushed up. While others might have their prices fall because they're not necessarily included in the index. Investors were selling active mutual funds and going in to index funds to the overall market valuation wasn't necessarily going higher. The point out that some stocks will because they are part of that basket that an ETF holds might be more liquid whereas other names are going to be less liquid. So you have different things going on that makes it challenging to figure out whether there is or was an indexing bubble Needed is a stress test. We needed people rushing to get out of ATS and other assets and to see how they hold up. One of the concerns regarding ETF, there would be a flash crash which has occurred in the past where the price of an ETF has fallen dramatically more so than the price of its underlying holdings. And this can occur when there are trading halts in either the ETF or the underlying holdings. These trading halt or circuit breakers that are implemented if the price of security ETF falls below some threshold. And they're there to suppress volatility. Do allow traders time to catch their breaths or trading systems time to recalibrate to timeout. The stress has is very, very important because ETF's are so much bigger than they were. Six trillion dollars in assets in the ETF sector that's up seven fold from two, thousand seven. So. What happened during late February and March as market sold off dramatically. Well I there was no flash crash trading volume, definitely spite. I shares shared some data for the week of February twenty. Fourth Two thousand twenty volatility spikes so the vix, the C. B. O. E. volatility index, it reached forty nine. The highest since February twenty eighteen. and. The S&P five hundred had its largest weekly decline since the two thousand eight global financial crisis. Exchange traded products that week comprise thirty, eight percent of market trading. Whereas back in twenty nineteen, they accounted on average for twenty seven percent. So there was much more trading in ats. Exchange. For the products which include ATS. Traded a record one point, four, trillion dollars volume from February twenty, four, th through February twenty, eighth, two, hundred and seventy percent greater than its average daily trading volume from the prior month. And then that trading was fairly efficient. So the bid ask spreads what investors were buying ETF for or selling e Utah. That price difference was generally line with historical averages in addition, most of the trading volume was trading in the secondary market. Investors trading the ATS with each other, rather than trading facilitated by authorized participants who interact directly with ETF sponsored in creating and redeeming shares. The volume of secondary market trading in exchange traded products was fourteen to one relative to primary activity of this trading with authorized participants. What that means is that ETF in some ways acted as shock absorber when investors were trying to get out even if the underlying securities might have been less liquid by selling ETF's taking much of that trading volume that put less pressure on perhaps some of those less liquid securities. It seemed to function. If we look at what happened during the this market twenty, twenty turmoil compared to the flash crash of two thousand, ten volatility was actually much higher during the march twenty, twenty turmoil. The minimum and maximum levels during a given day for the various indices was higher during March twenty twenty then back in the flash crash twenty ten. And yet the markets seem to function generally speaking at least for equity ETF's. Even. Michael. Berry in March twenty twenty seemed to admit this. He told Bloomberg I have a significant bearish market bat that is working out for now. A global pandemic is absolutely potential trigger for the unwinding of the passive investing bubble. But despite volatility Berry said, he hadn't noticed any signs of dysfunction in the markets that was making it harder for him, the trade or exploit investment opportunities. Equity ETF seems to have passed that stress test it worked even though the volume of trading was so much higher. The number of ATS was so much higher. There were some challenges on the bond side. The vanguard total bond market ETF. B, n De on March Twelfth, it's closing price was six point two percent less than its net asset value per share. The price was less than the supposed value of the underlying holdings on a per share basis. During the prior thirteen years that have had a point one, seven percent premium of the closing price to envy now at six point, two percent discount. Rich powers WHO'S HEAD OF ETF product management at Vanguard said this wasn't unusual. Market prices for Egypt's can move more rapidly than the net asset value that is part of the price discovery process. He's saying that's normal.
Did ETFs Pass the 2020 Market Collapse Stress Test?
"A paper issued by the Federal Reserve Bank of Boston titled The shift from Active to passive investing potential risks to financial stability. They right to the extent that passive investing is pushing up the prices of index constituents. Two types of potential repercussions for financial stability might arise. I in theory, rising prices can lead to more index investing and the resulting index bubble eventually could burst. But they point out that this might not be the entire market but could be just elements in the market some stocks getting pushed up. While others might have their prices fall because they're not necessarily included in the index. Investors were selling active mutual funds and going in to index funds to the overall market valuation wasn't necessarily going higher. The point out that some stocks will because they are part of that basket that an ETF holds might be more liquid whereas other names are going to be less liquid. So you have different things going on that makes it challenging to figure out whether there is or was an indexing bubble Needed is a stress test. We needed people rushing to get out of ATS and other assets and to see how they hold up. One of the concerns regarding ETF, there would be a flash crash which has occurred in the past where the price of an ETF has fallen dramatically more so than the price of its underlying holdings. And this can occur when there are trading halts in either the ETF or the underlying holdings. These trading halt or circuit breakers that are implemented if the price of security ETF falls below some threshold. And they're there to suppress volatility. Do allow traders time to catch their breaths or trading systems time to recalibrate to timeout. The stress has is very, very important because ETF's are so much bigger than they were. Six trillion dollars in assets in the ETF sector that's up seven fold from two, thousand seven. So. What happened during late February and March as market sold off dramatically. Well I there was no flash crash trading volume, definitely spite. I shares shared some data for the week of February twenty. Fourth Two thousand twenty volatility spikes so the vix, the C. B. O. E. volatility index, it reached forty nine. The highest since February twenty eighteen. and. The S&P five hundred had its largest weekly decline since the two thousand eight global financial crisis. Exchange traded products that week comprise thirty, eight percent of market trading. Whereas back in twenty nineteen, they accounted on average for twenty seven percent. So there was much more trading in ats. Exchange. For the products which include ATS. Traded a record one point, four, trillion dollars volume from February twenty, four, th through February twenty, eighth, two, hundred and seventy percent greater than its average daily trading volume from the prior month. And then that trading was fairly efficient. So the bid ask spreads what investors were buying ETF for or selling e Utah. That price difference was generally line with historical averages in addition, most of the trading volume was trading in the secondary market. Investors trading the ATS with each other, rather than trading facilitated by authorized participants who interact directly with ETF sponsored in creating and redeeming shares. The volume of secondary market trading in exchange traded products was fourteen to one relative to primary activity of this trading with authorized participants. What that means is that ETF in some ways acted as shock absorber when investors were trying to get out even if the underlying securities might have been less liquid by selling ETF's taking much of that trading volume that put less pressure on perhaps some of those less liquid securities. It seemed to function. If we look at what happened during the this market twenty, twenty turmoil compared to the flash crash of two thousand, ten volatility was actually much higher during the march twenty, twenty turmoil.
In Seismic Shakeup, Dow Replaces Exxon Mobil with Salesforce
"We'll talk about an exclusive club the only members allowed into the Dow, Jones Industrial? Average. Are The thirty most stalwart icons of the American economy names like Home Depot Microsoft McDonald's Johnson and Johnson Caterpillar Goldman Sachs and until next Monday. Exxon Mobil. That's right. The Dow is throwing Exxon out not long ago such a move would have been unthinkable. The multibillion dollar oil company is the longest standing member of the Dow. It was first listed in October of nineteen. Twenty eight. The. Dow's leaders announced their choice to boot Exxon late, Monday the move is so remarkable that Bloomberg called it a stunning fall from grace for the giant oil company. Is Twenty Thirteen Exxon Mobil was the world's largest publicly traded company according to CNBC. But now in the flash of time that has been the Kobe pandemic traditional oil companies have fallen out of favor as oil revenues and profits. Sink investors are spurning energy businesses. As we've reported here. Recently, Exxon has been foundering as the green economy becomes more and more important to global consumers. Bloomberg reports that exodus is now valued at only one, hundred, eighty, billion dollars A. Drop of forty percent just since New Year's and even more sense it's half a trillion dollar valuation in two thousand seven. You could say Exxon's worth is plunged as deep as one of its offshore drills like whack-a-mole when a company is pushed off the Dow, another one jumps up to replace it. In this case the Dow kicked out three businesses, Exxon? Mobil pharmaceutical company Pfizer and Raytheon. Technologies like Exxon Raytheon is also a dow old timer it was first. Listed in nineteen, thirty, nine, swapping into those slots are salesforce dot COM tech company specializing in customer relationship management. The Dow also added Biotech Company Amgen and industrial conglomerate Honeywell International. This is the Dow's biggest shakeup in seven years, not surprisingly the share prices of the three companies joining the Dow was Tuesday for the three kicked off the island. Well, you guessed it share prices fell. There's a much bigger strategy here than simply reflecting Exxon's ill fortunes the Dow. Index of American blue chip stocks was invented by Charles Dow and ninety four, two years later down his partner Edward Jones surely you know that name publish their first list of a dozen blue chip stocks ever since the Dow has served as a benchmark the standard intended to measure the strength or weakness of the US. Stock Market for that reason, it's leaders sometimes shuffled membership in the Dow to reflect the changing makeup in value of the entire stock market. And for that matter, the entire American economy
Epic judge will protect Unreal Engine — but not Fortnite
"Nothing like seeing too high powered lawyers represent a billion dollar company, a trillion dollar company getting muted on Zoom by a judge. It was pretty beautiful quick bullet points to the people who missed the previous episodes on this lawsuit for night I undercut apple and Google's prices for books on the APP store and Google play respectively a response apple and then later Google pulled fortnight from the APP store and Google play EPA Games then sued both companies and released in Nineteen eighty-four parody ad targeting apple then apple decide to come for epic's unreal engine and that's what led to the hearing Monday afternoon judge Yvonne Gonzalez Rogers henceforth known as wide Gr growed the lawyers from both companies. The hearing was brought forth by epic games as they saw a temporary restraining order preventing apple for removing epochs developers certification. Developer certification is basically a set of tools that helps developers using unreal engine. Make their games work for IPHONES THE UNREAL engine for people unfamiliar with it is one of the two major engines that video games are built on the vast majority of games be they for PC or mobile or even for many of Hollywood's effect studios are built on your of the unreal engine or the unity engine. In the N. judge why Gr decided to grant temporary restraining order when it came to the unreal engine, but it denied it when it came to fortnight's place on the APP store, there's a lot that went down in this hearing include linked to an eastward observer article a tweet threat by journalists Sarah Young. They're good reads if you're interested in learning more about this lawsuit and how this hearing took place also Weiji are through a tunnel shade and it's just really fun read. I'll highlight one specific quote from a judge which is going to pose a problem for epic. The judge mentioned how epic could simply remove the Hawks which undercut the APP stores prices causing epic daybreak terms of service and leading to his whole affair epic is clearly not willing to do that but that's the danger when entering the lawsuit were you already aggressing party? The next hearing is set for September eighteenth. So I'll be back then if not sooner for another update on this lawsuit
"trillion dollar" Discussed on The Energy Gang
"There in Ohio. I've got my regular co hosts here. Jigger Shah in Katherine Hamilton. Diggers the President Co founder of generate capital. He is there in Bethesda Maryland I jaeger. Hey, how's it going? Good scandal? You're so excited about the third story. You just corruption scandal. This is what you're talking about, so I can imagine you're really excited. Well I would choose to use the word debacle debacle wide debacle. What's the difference I? Don't know I feel like scandal. You know sort of. I duNno, it's an overused word. Wasn't it the name of TV show? It was but I. Think Scandal is a pretty good word. Catherine is an Arlington Virginia. No wait Catherine is not in Arlington Virginia. She is in Washington DC folk. She is in her office in Washington DC. She is the CO founder of thirty nor solutions. Catherine. What are you doing there in DC I? See I see the city behind you. Yeah, we had a series of epoch. Epoch storms as last night we finally gave out, and our electricity went off, and I had to tell my for my kids that Abraham Lincoln did not have devices, and they didn't need devices, either and when it gets dark, you go to sleep so I came into my office the first time since March well. It's actually Kinda Nice and refreshing to see a different like cityscape. But stay safe you know I think. A lot of our listeners will know that you used to be a line worker for utility. Do you ever get the urge to put on the hard hat and go out and find where the outages? Oh like I do that whenever we have an outage. Trace it and try to figure out. It was at our transformer. Was it the fuse down the street? So yeah I definitely do that. Still she uploads the longitude latitude for you know. Dominion used to know all the. We also have a special guest emily. Atkin is climate, writer and editor. She is founder of the newsletter heated. She's a former journalist at the new republic and think progress and her newsletter is all about people in power, and what they're doing or not doing about climate disruption. Emily, thanks for joining us. Thank you for having me, so let's talk about Biden's climate. Climate Plan I during the primaries I think a lot of watchers saw biden as a disappointment. He was nostalgic about the Obama era. His biggest most ambitious goal was to get America back into the Paris climate plan, and a lot of people felt like he was just way too conservative, and not up with the Times in with the science was telling us we needed. Needed to do but today or in the last couple of weeks he's published this sweeping climate plan that is so sweeping it is actually consistent with climate science, and it is getting a lot of praise from groups that once criticized by or at least there are sort of cautiously joining in and saying okay, he's he's with his climate plan according to any news calls. Calls for more spending than almost all of his other proposals, including education housing and the OPIOID epidemic it proposes two trillion dollars for infrastructure for a broad range of climate investments for environmental justice If I gave you a dollar every second for sixty thousand years, we still wouldn't be quite at two trillion dollars, so it's a good chunk of change it's. It's part of this frenzy of reports being released by House Democrats by Biden's campaign and just this week the Democratic Party. So, how is bny doing? What has changed Catherine to you I what is in this report? Yes, so it's all part of this build back better plan for economic recovery that includes American manufacturing and innovation, modernizing infrastructure and an equitable clean energy future. Future, there's a whole education workforce piece and then advancing racial equity kind of underpinning everything, so he's very much focused on this as part of an economic recovery vision, but also has it varies. Standards focused so whether it's auto, standards or facility, buildings, standards, or energy, efficiency or renewable energy. It's very much focused on standards with really meeting the movement of needing to. To address the issue of environmental racism and It's big. It's bold. Obviously, it's got a lot of money attached to it, and it seems like it's quite thoughtful and holistic in its approach. Emily You have been following a lot of the pressure on Biden the evolution of his campaign. What do you make of this report and the difference between what he's saying? Saying now and what he was saying months ago I think it shows that Biden is able to be pressured by the left and I think that it kind of shows you. What the differences between the the type the type of work if you're in the climate policy or environmental policy space, the type of work that you can be doing whether you're working for. Trying to pressure a Biden administration or trying to pressure a trump administration I don't think anything any activists has has proposed to be even considered by trump administration. So that's one thing. I mean the climate policy plan that Biden had. Months ago during the debates bent one point seven trillion dollars I believe over a period of ten years to. achieve a net zero economy by twenty fifty. This plan pledges to spend the same amount of money over a period of four years so pretty more rapid timeframe. To achieve net zero by two thousand fifty, but also completely decarbonised the electricity sector by twenty thirty five. which is a big chunk of the carbon? That we emit a big chunk of our contribution to climate change. And then plus all these extra environmental justice initiatives most notably. Biden's pledge to give forty percents of the economic benefits from clean energy investments to disadvantaged communities, communities disproportionately affected by..
"trillion dollar" Discussed on Slate's Political Gabfest
"To us on. You'll get new episodes. The second they come out that is our show for today the Davits is produced by Jocelyn Frank. Our researcher is bridget dunlap. We all engineered ourselves in our own homes. Congratulations to us for Emily Baz Lan and John dickerson. I did lots. Thanks FOR LISTENING TO PEOPLE. Talk to you next week. Hello slate plus how are you? How are you were you guys? You guys still. Yeah Okay just wondering just felt like talking to the void for a bit there anyway. So firstly plus here is my proposal. This shutdown this social distancing so odd so many strange experiences too so weird to run through life and I just wanted to. After ten days of this fourteen days of it ten days of it I am interested in you whether you guys have any particular observations about any strange experiences any points that you WANNA make I can go first. Since it's my with my bad idea. I think for me so I've been doing a lot of walking. I believe that the outdoor outdoor walks in nature very curative. And restful and good for you and that's been weirdly one of the very few joys of star period and going on walks with family and one of the things that I've just noticed that notice like noticing all these things which I haven't noticed before and I've been on trails and Rock Creek Park that I've never seen and seen parts of the city that I'd never seen and noticed things there's a trail. I walk almost every day just outside my house and the different ways that burge use it and notice the different way the the trees next to it grow and noticed more things about the stream that I'd never noticed before and it's I think that when you travel the world as you and you John Emily and I have all done. I think you tend to tend to get a very quick gloss on something rather than digging deep into a particular place and it's been one of the few benefits of this is to feel it digging deeper into the place that I know and to the place. That's my home. And that's that's nice to get a deeper knowledge of a place. That's around the corner from me. I've welcomed that. I love that I think there is a way in which when you simplify and shrink your life than the small things loom larger. And that's a good thing. I can also just be like Elvis fans. That was just a teaser to hear the rest of our slate plus conversation go to sleep dot com slash plus to become a slate plus member today..
"trillion dollar" Discussed on Slate's Political Gabfest
"You could not protect yourself. You could not protect the guy next to you. You had no control over your own fate. This becomes a shock to systems of thinking. systems of coping Ideas about the proper relationship of individuals to their society individuals to their governments. So it's it's it's a total. Social shock of a war became so large that it eventually would slaughter close to seven hundred fifty thousand people David in your Atlantic piece you wrote about Lincoln and his leadership and then you also write about Franklin Delano Roosevelt and the way in which people's relationship and expectations of the government changed in the wake of the Depression has Roosevelt is pushing for the new deal. And there's a quote that used from an FDR fireside chat in nineteen thirty five the old reliance upon the free action of individual wills appears quite inadequate the intervention of that organized control. We call government seems necessary. So we're at another moment where we desperately need the government. We needed to lead. We need organization we need just like simple or not simple but centralized logistics to get all the equipment we need from one place to another and you know obviously. Donald trump is a very different kind of president. But we're at this moment where we really need the federal government to be playing this larger role and one thing. I've been struggling with as I've been watching. These press. Conferences is what it's like when you have such profound doubts about your central government in your leadership at this moment. I mean trump himself but then also the apparent failures of some parts of the government. I would single out the CDC perhaps Centers for Disease Control in preparing for this pandemic. And I just wonder as you look back on. Fdr On Lincoln how you think about those struggles that the country's going through love the question. I'm glad you're that quote. Let's take up. I that idea of the individual I mean is there a deeper idea deeper myths and the anthropoid logical sense in American culture than this faith we have and individual? You can't kill it. No matter what Whether it comes from Emerson the Romantics or whether it comes from cowboy legends or whatever you just can't kill it And we we still have this notion that somehow We can all be self made. We can We can all a save ourselves if we get into the right gated community or if we have enough wealth or if we have enough education turns out in a crisis like this were terrified is individuals. And that's exactly what Roosevelt was saying there and that nineteen thirty four. Thirty five fireside chat that in fact he even referred to it as the nineteenth century idea of of frontier. He says his idea of the American going out in conquering and solving dilemmas of the frontier on their own individuals. Hardy men just didn't fit the modern world anymore. In fact hadn't fit the age of industrialization and urban is Asian of for many many many decades and suddenly the depression through everybody back onto their own wits in their own wits. Were not adequate for anything. So where do you turn your turn to government? Well that's exactly what happened in the civil war in its right. The in fact one of Roosevelt's favorite quotes was the quote by Abraham Lincoln. Where he said that the purpose of government is to aid human beings in what they cannot do for themselves. That's a paraphrase. Lincoln said it better as usual and in the civil war suddenly people start capitalizing or government People started talking about the government is something that would help them. Save them preserve their society preserve their constitution act as a kind of a shield on most Americans until eighteen sixty sixty one had never experienced the federal government except largely through the post office. there was no of the federal taxation there really were no federal agencies that engaged in people's lives there certainly were overnight when the war came so he got here and then the reason. I wrote that pieces because I was like you Emily just struggling tap something to say in the midst of I guess. Those press conferences Or anywhere right now and it's just all over our discourse it's everywhere people are wondering what's the role of government. What CAN GOVERNMENT DO? What is government doing? Why isn't what it's doing adequate In desperate kind of language. Now we're asking what governments can do. Necessity always invokes government. Where do modern people turn when they cannot do for themselves? What they most desperately need for two centuries the have turned to government and as much as this society still has millions of people who don't trust government don't like government won't government out of their lives taxation Right now everyone is desperate to understand. How is government going to save us and picking up on that? David before revenue. We had you To talk to I was thinking about something. You said Last summer when I talked to you about Your book on Frederick Douglass and we expanded the conversation a little bit more and you base and you said we were talking about why you study history which is also one of the things you recommend while people are in lockdown and you said you know we forget good ideologue you said that we we forget about it and then every once in a while history reasserts itself and just sort of us in the back side and you talk about necessity of the moment but your larger case seems to me to be. You know what this keeps happening because this is the way the ball bounces in the human experience and maybe we should know from studying history. Either whether it's Lincoln or FDR that big existential surprise things that nobody knew. We're GONNA come that week. They might have known it was going to come someday. They happen and given that so. Can you pick up on that idea? Basically that One of the reasons that we read history is not just for the specific excitement of the moment but also because of that more enduring idea. That emergencies always happen. And Hey maybe we should do something more than a late night. Vote in the higgledy-piggledy of the moment Yeah well a beautifully put John You know. None of us should take any particular high ground in this. I mean who predicted the end of the Cold War in eighty nine when it suddenly happen Who predicted nine? Eleven while you know we can find that the CIA had been working on that and of course we know more now You Know Pearl Harbor happened in. Its shocked the country. But we knew something about with Javanese or doing in the Pacific too but the there many many cases of this in history and every time it happens we are shocked. For good reason you know even nine eleven was not unprecedented. Everybody kept saying that was unprecedented on president unprecedented. No it wasn't and we've been slaughtering civilians ever since the Trojan war. I mean so. I don't know. There's no silver bullet on any of this but history. Is that saying we have to draw on if we can take the time to read? It prepares us. It doesn't protect. Its but it does prepare us for the shocks to come in if we think somehow that history because we live in America is somehow on of course the progress in somehow always going to get better Than we're kidding us. Notice him These things are just going to keep happening. One of my favorite things ever written on this is is to. It's a little short section and a book by Mark Block Mark Block was the great French historian killed in the Holocaust by the Nazis. But while he was in hiding the French resistance and moving from farmhouse to farmhouse he managed to write most of the manuscript. This is so moving. I almost break up a guitar at tell. The story managed to write. Most of the manuscript of his book called the craft of history and in that book which has many many important elements. He makes a profound case of how the past and the present are always hand in glove. They're always inter related even when we don't know it even when we don't think so he calls it the solidarity of ages past and present are always mingle and the past is always waiting to come get you in the president. Who would who would know any better than mark? Block sitting in some farmhouse hiding from the Nazis. Trying to write about the meaning and uses of history. For God's sake No doubt it probably calmed him until they caught him and shot him with a firing squad. History shocks us in right now. This one frankly. We don't really know what the analogy is. Dewey analogies are flying around now like like air it probably more analogies in there are virus Bad Joke but everyone was looking for the right and as this Pearl Harbor. It's the same thing we did with nine eleven but in some ways nine eleven was a little easier. It was a military attack. We knew what to compare it to when you compare this to. I guess the nineteen eighteen epidemic. But we've never shut down the entire economy which never closed off all transportation. New York City's never had empty streets even in a blizzard. I mean it's just never happened so you know we don't know how to prepare for this about. We did not prepare for this and didn't in certain practical ways but how to prepare ourselves emotionally philosophically spiritually right. Now were Adrift David. The period politically that. We're in has been marked by incredible division just country. That's that's as divided as certainly any. It's ever been in my lifetime when you look at what's starting to happen. And the government response to the crisis. Do you think there's any reason to hope that we come out of this? Less divided or are the ways in which we're divided more likely to be reinforced. By what happens during this. Well God only knows but it depends on how long this lasts. It depends on how deep the suffering is. I think our models for this is what probably happened. The politics in the thirties and politics in the year of the civil war. I always tell my students. If you are really yearning for a political realignment in America I mean a fundamental realignment like new parties that actually work and develop new coalitions. And last you got two great models. The eighteen fifties in eighteen sixties the birth of the Republican Party which completely reshaped American politics with a whole new coalition. And you got the nineteenth thirds which completely reserves American politics and the Democratic Party not overnight because its roots are in progressivism but the Democratic Party becomes the party a new kind of liberalism. New Deal Policy on the Republican Party at that time increasingly becomes the Conservative Party of big business. Those are two really big realignments in American history. So take your pick. You can have it with a civil war you can have it with the Great Depression. That's pretty depressing when you think about it but who knows What this kind of crisis could do the irony here or the power of this is it. It has everybody talking about existential issues. How are we GONNA feed people? How are we gonNA save our our our medical people? The nurses and the doctors who are not risking their lives every day How are we gonNA ever revived the economy out of this all of those questions? Everybody has to ask. But it's GonNa be a turbulent road. David what are you you picked you talked about? Lincoln and FDR so do you have a template again given everything you've just said about politics today For how people got through I mean. Fdr comes in in thirty two. It's been since twenty six. They've had to endure lots of uncertainty and lots of and the the leaders and the people the leaders in particular. Both of those guys where you know. It was said that they had this great negative capability that they could live in the uncertainty and not go stabbing after solutions on the other hand. They took great actions. Amazing historic actions. Can you talk a little bit about that combination of attributes in the leader but then also in the people how do people live through and perhaps they just were used to it in a life where you didn't have instantaneous? Everything the way we do now but live through the uncertainty and the just existential Wednesdays ever and houses ever GonNa get better well on the ladder questions on a lot of them didn't well let's remember Civil civil or kill Lotta. People maimed many more left families. ruined We have to face that we need. We need a very strong sense of authentic tragedy. Understand that back the leadership. It's worth understanding here. And just a quick sense that link neither Lincoln or Roosevelt had it all figured out. Both of them had very crooked roads. Lincoln had a crooked road to his moment of greatness with immense patient and his various moments of greatness with this Hash to save the Union. No matter what the. Lincoln eighteen fifty eight debating. Stephen a Douglas on the question of slavery is not the same Lincoln of the summer of eighteen sixty three or certainly of sixty four when he is so concerned to free as many slaves as possible before the election. That fall in case. He doesn't win Roosevelt at a very crooked path to the ideas of the new deal he was spewing all kinds of contradictions. You know when he was governor of New York and when you even when he was running thirty two No one quite knew. Roosevelt meant and Kinda got it clear in the campaign and then in thirty three he kinda got it down that look. We've got a revolutionize the way we use government to save society to save employment to save the human spirit and we got to have a whole new imagination. He says we need A. We need a whole change in our.
"trillion dollar" Discussed on Slate's Political Gabfest
"From new haven. Hello Emily Hello Nice to see you on zoom and John dickerson of CBS's sixty minutes and his bookshelf. Hello John and you have of your book to. I do and I would show people. But this is not a visual medium. As I've been led to believe and I just enlarge the screen and looking at all I can say. Is I apologize? You Look Great. What do you mean what? Could you leave me so nice to see you guys? It's just nice to see you guys and to see Jospin Bridget. So it's great to see you again regardless of how how unshaven dirty. Any of US looks on today's Gab. Fest the tug of war over how long the shutdown should last. And why will the president a bet a public health catastrophe by encouraging? Americans to get back to normal life too soon and do we have even the remotest sense that this pandemic is beginning to change that we are beginning to get any of it under control even as New York sinks into what appears to be an absolutely disastrous situation. We will talk to an epidemiologist Greg Gonzales. About all of that then. The largest stimulus bill in world history attempts to forestall economic collapse here in the US but is two trillion dollars enough. We'll talk about that and then we will hear from civil war historian. David Blight about what history can teach us about living through catastrophe. David is one of my favorite people. Talk about anything and I can't wait to hear his historical perspective. On this plus of course we will have cocktail chatter. There is a raging debate going on in this country stoked by president trump over how long the corona freeze should last. The president said this week. Idiotically that he wants people in Stores Churches by Easter which is just a couple of weeks away. Meanwhile there are a couple of other people. There's a group of other people who are arguing in a in a similar vein that social distancing be damned. Let's let the disease run. Its course through the young and healthy. Keep the economy humming. Tried to protect the old during that. Greg Gonzalez is an assistant professor at Yale University School of Public Health epidemiologist. He has a somewhat different perspective. On this so greg can you start with the what do you think are the major fallacies of the let's get back to business? We've done enough already proposals. That were hearing from the president and others so first of all. Start off with where we are. We're in the midst of a raging pandemic and ET National Public Health. Response that nobody thought could be and so we're in a situation where I see us all over the country particularly New York in northeast but slowly across the country or are going to be full capacity in people making choices about who lives in does so the projections are maybe between one in two million deaths. If we relax social distancing in the absence of a vaccine Retreatment for for Kobe. Nineteen we are stuck with. Social distancing is the main way of protecting herself now public health experts and epidemiologists all realize the ask is a big one. And we're all doing the same thing as as people are doing all over the world following these guidelines. We also realize we have to think of a way out on. This can't go on forever. The more weeks we accumulated of this sort of social isolation people be chomping to to get out of their houses. Meet their friends and family on the Jim normalize so these discussions are happening in the world of public health. Not just sort of in the in the greater sort of public discourse what. We don't need her for false choices. The idea that we have to pick the economy versus protecting the public health. I've been speaking to both my public health colleagues colleagues in economics people exact cooper-hewitt gale and others. Who Don't see a conflict in this at all the way to save the economy the way to save our friends and families lives is to beat this virus Greg. One way you came to our attention was a twitter thread. That was in particular response to a piece in the New York. Times by David Katz. I think his name is which argued we can let the Let the young get this disease. Protect the olds. And that'll be fine. Talk about why it is why. It's not possible for that model to work. Which I think. Emily and I both played with and we're tempted by and wanted to believe in and emily. I shouldn't speak at least just wanted to explain to our audience why that's a fallacy out. It's interesting too because it was very appealing to Jim. Dow In and Kim spent at the New York Times. There is an easy out. There's witty get through this without the pain that I think. Many are contemplating overlong creator social isolation we are dean of our school of Public Health. Stand remind myself started homer who runs the global health and Becca Levy. Another professor here at at Yale wrote a piece in the time too short letter saying why this is in part why. This is not a credible plan for addressing the epidemic. One is the idea that we can sort of sequester all the elderly in the United States and their caregivers Safety over the course of months while life goes on outside outside of sequestered existence. It's not credible. We don't have a safety net. That's going to be able to sort of sustain this for the elderly in isolation over time the other pieces of don't know you know many of you probably know a people in your social circles or one or two degrees of separation who were in the ICU or been sick who are not seventy five. Eighty five years old so as many of us know David Latte above the law a lawyer in New York City who is his been been in the ICU. Marathon runner physically fit. I all other standards. Who has the disease if you let younger people out to go to work with the idea that let them diskette exposed and they'll get a mile illness or they won't get anything all Discounts the fact that a certain percentage of killing people will get serious disease and die. And you just have to the mass right. If there's a big difference between a one let's say one percent chance of serious illness when you have one hundred people one person out of a hundred will get it. But if they're ten thousand people a million people. Ten million people any multiplies by when percents Huge absolute number of young people ending up in the ICU. The other thing is that This could be a seasonal coronavirus infection. Snow seating at across the American landscape by letting everybody get it except a small group of people doesn't bode well for trying to radically this this sort of a recurring infection. That comes up with some have flu. End Corona virus season which means you know hundreds and hundreds of thousands of debts on annual basis. Those are the main meets the cats editorial with wishful thinking so wrapped in insignificant near of Science I just want to say you were brought up my friend. David Latte who I'm really worried about. He is on a ventilator. And I think sedated according to the latest news that I heard and just been thinking about him a lot and there are other people like that as well so I think the way in which this viruses starting to touch us especially in the northeast or I don't know maybe that's not even true. Start starting to feel very real at least to me if we're looking for an evidence based approach to this. What are the next things we should be watching for? And what are some of the time horizons that we can be paying attention to as we determine how to go forward markers. Maybe there's a rational case being made for going forward and it's coming from both public health and economists people at Gabriel's within a manual says from Berkeley Hall Romer Economists Bunch people are saying we can stem the economic damage that this this crisis caused by under girding economy from the bottom up to eighty eight hundred fifty billion dollars worth of corporate subsidies but really figuring out how to support new all the four of us to five of us in our daily lives in terms of social visiting income support. All the social services. We need to make sure that people who are less fortunate than us able to do this. And then we watch and we continue. The social distancing end will see the peak of cases starts to lessen hopefully we'll have millions and millions of tests in a few months so that we can understand the sentence a the epidemic that still lingers in the United States in have antibody test. We can understand who's been exposed and WHO's not been exposed. If one of US has antibodies to the virus never had symptoms. Maybe we can go back to work or be part of the volunteer effort In so this is going to be a very step by step process to get people back to work. It's not like one day we're gonNA flip a switch and it's all going to be over to be a gradual gradual scaled-down of social distancing interventions over the course of months and it's GonNa take a massive investment of public health resources in order to do it. We're not prepared to based on the status quo as it exists today Natural the scary thing is because there's an absolute failure leadership from the top which is interested in denial and and and sort of misinformation. So we have people up and down the chain of Management. Not really willing to do the wrong thing. Doing the wrong thing needs telling your boss doesn't WanNa hear Greg. I wonder if you have any sense about whether New York is which is now the epicenter of the pandemic in the world whether it is a harbinger for the United States uniquely bad place and and death that question a different way one of the things. I've been wondering about and I'm interested in your professional take on is for the most part. Americans live pretty far apart from each other. We're big country. We're not that densely populated and except for a few cities we are. We don't have places where people really live cheek by jowl. New York is one of them and are we likely to have some protection from the fact that that many Americans actually are socially distant how they live to begin with so new. York is not a bad place. I think as a New Yorker. I think it's a fine place to live. I think the population density is one reason why we might be seeing more severe epidemic there but it's also just luck of the draw right. It's a major transportation hub the future for the country If you start to look at the map say the New York Times. You'RE GONNA see this sort of start to rise up think of Miami Rhonda Santa's. The governor said are not ready to sort of tell people to stay home from work. he he dilly-dallied in terms of closing the beaches. So you're GONNA see other cities around the. Us start to have their cases mount particularly in in states where governor to. It's basically all delete of the White House in downplaying the risk for their community but also think of it not a function density but a social network think of communities that are tightly unwilling together the Amish Mennonites in in rural Pennsylvania and others who depend on a lot of social contacts of May not be about density could be about density social network. One thing. I've been wondering about is how heartened to be by the drop in rising cases in Italy. So I've been hearing for weeks. That Italy was like a couple of weeks ahead of us and they seem like us to you. Know initially resisted or struggled with social distancing but then really gone on much more of a national shutdown and now it seems like a couple of weeks after that. There is starting to be a fallen. The rising case rate. There is that something that suggests that if we can really do the social distancing for two or three weeks. We can expect a similar achievement. Or Am I kind of exaggerating here in grasping at straws? So look I mean. I think what happened? In Italy's that once they saw the rising death tolls age. They sort of went into lockdown And if we look at what happened on in other places South Korea a mixture of testing social distancing. There's been a way to sort of Flattened occur but also to sort of start to control the epidemic. We have not taken the route that Spain or Italy or other countries that have been hard hitting Europe done. We don't have a national lockdown. We have a lock down in New York State. We have our orders in Connecticut and other states around the country like California to institute strong social distancing measures. But it's not all fifty states and it's not even across the country. The stag thing is we. We sink or swim together and you know viruses. Don't understand the borders between New York and New Jersey or Mississippi Mississippi sneakers and so unless we figure out a way to do more rigor social distancing across the country for sustained period of time. We're just piling infections. Acquired infections were building new chains of infection across the United States. And it's not going to be two or three weeks are we can be two or three months of hardship and didn't have to wait through this You know staying in our own houses. Not Seeing you know for a long time. It's not hard to do. We're going to have to think of ways to build. Social connections may be ourselves for a couple of weeks alone and then maybe try to trigger waste. We can combine our social circles over. Not At that point at it all greg to endure that couple of months process..
"trillion dollar" Discussed on Today, Explained
"And I don't know I can't honestly cannot believe that after five days of acting like a real precedent or trying to act like a real president that Donald Trump seems to have lost his taste for this and is now telling people were going to be back at work in two weeks. We we just need better than that right now. We just do. What is he missing? What are all the people who are looking at these unprecedented economic consequences over two million people filing for unemployment? Who Warrant two weeks ago? Who are looking at something much worse than a recession and saying is this really worth it. What are they missing? The hardest thing in politics is to force pain now to prevent more pain later and it's not that they're missing something exactly. It's they're living in the present and not in the future. What Donald Trump would any political leader any leader needs to do in an organization is live somewhat in the future is see where things are going and work backwards from there so the organization is prepared that organization a country or a company. That is what we are doing. Even Vox media right now. We are trying to think about what all this is gonNA mean for business and trying to work backwards to how we need to prepare. Donald trump is a very present focused person and he runs a very present focused administration. And what is happening? Right now is that they are feeling the pain of social distancing and it is real pain the unemployment filings the GDP projections. It is real pain. Suffering it is a horror what he is not able to feel yet and so he's not truly responding to is the kind of economic social political and human pain of this disease flying out of control of what it will mean if you can't go deliver a baby or get treated for heart condition because you're stepping over bodies in the hospital infectious bodies of what it will mean if we have a national shortage of nurses doctors respiratory therapists etc that. He is responding to the political pressure on him now and the things that he can feel now the pain we are causing now. As opposed to the pain we are trying to prevent and if every epidemiologist and public health expert and frankly even just what we're seeing in other countries is right. The pain we're trying to prevent is a lot worse now. We can't ignore the pain we would cause on the way. We need more stimulus. We need economic support. We need to have the political imagination and will ambition to make this possible. We are not going to get out of this without real economic damage. Either way that is built in but we could get out of it with a lot of humanity A lot of social support we could also if we had anywhere near the kind of imagination required for crisis like this we could get out of it with a better structure for our economy altogether right. It could be that out of this. People GET GUARANTEED PAID. Leave as every other industrialized country has guaranteed health care. I mean you could imagine using this as a moment to say. Oh we are so interdependent that we can't just have solidarity in the moments of crisis we need to have it all the time. It's not that it would stop people from losing their jobs. It's not that stimulus or basic income. Payments are going to stop them from hurting. We're not gonNA stop the hurt here but we can do a lot to build better structures to protect people from it now and in the future.
"trillion dollar" Discussed on Today, Explained
"Tech has consequences and recode by. Fox's exploring them all. With the new multi-platform journalism project called open sourced through videos and articles open source to explore and demystify controversial issues surrounding technology everything from facial recognition and surveillance to how add micro targeting will affect the twenty twenty election. The project is supported by the media. Network a global network of innovators entrepreneurs and technologists committed to addressing the most critical economic technological and societal issues of our time checkout open sourced and vox dot com slash open sourced. Find out everything you need to know about the hidden consequences of tech box dot com slash open sourced. How many of you have heard of ring? How about hint? How about tech over? I've heard of ring anyway. All of these companies have one thing in common. They all use nets sweet to accelerate their growth and net. Sweet would like to help you. Accelerate your business growth from wherever you are at your office by yourself. Hopefully six feet away from anyone else or at home. Maybe still six feet away from anyone else right now. I'm in a closet. For example anyway net sweet will give you a full picture of your business finance inventory. Hr customers and more everything you need to grow. All in one place and you'll get the visibility and control. You need to make the right decisions and grow with confidence. Hopefully and right now you can schedule a free product tour of net sweet. You can receive your free guide six ways to run a more profitable business and met sweep dot com slash explained that is a net sweet dot com slash explained e. x. p. l. a. i. n. e. met sweet. It could be sweet but not spelt that way S. U. I t. e. is the sweet. We're talking about here. Good evening as reclined. Even with this two trillion dollar stimulus. There's a recession coming if not already here. Do we know how bad it's going to be? How will it compare to the last one in two thousand eight right now? The early economic data suggest it will be much worse at least at its peak than what we had in two thousand eight which is not something. I thought I would be saying anytime soon. Two dozen it was supposed to be a once in a generation economic flood. And now we're looking at something that is not even possible so if you look at early unemployment filings. They potentially went up to three million over the past week. We've just never seen a number like that if you look at what Goldman Sachs and some other economic forecasters are forecasting for the GDP. Drop in the second quarter of the year. They're now up to twenty. Four percentage point drop. That would be the single worst quarter in the history of GDP statistics US Treasury Secretary. Steve Mnuchin said that unemployment could go up to twenty percent before he walked out back but then over the weekend. The President of the Federal Reserve Bank of Saint. Louis said he thought thirty percent was possible at least for a minute. So we're looking at something that at the very least at it's worst could be unbelievably bad and one reason could be unbelievably bad is this is really different in its dynamics and not just two thousand eight but really any recession. We can think of in memory we. It's almost not correct to think about this as a recession. This is a combination of a recession a financial crisis potentially a war and in natural disaster. Great Great and this is just the opening salvo of this recession crisis. War Natural Disaster. Yeah I spoke to mark Zandi. Who is the chief economist at Moody's analytics so he's a very well? Respected economic forecaster and as part of. Moody's they get a lot of incoming economic data survey data actual data all the time so they tend to know the economy is going just about before anyone else. I've spoken to sandy a lot over the years. And he was ending almost apocalyptic here but to be more specific. What he said. We're GONNA see four waves of economic pain. The first wave is the sudden stop of the economy. That's what we're in right now right. I can't go into work the way I normally would. The restaurants in my town are closed and non essential businesses are closed. People are sheltering in place wave to which is already here as well is unemployment. People are laying off workers because they have no sales coming in PIBOR. Cutting back hours among workers mariette furloughed. A huge amount of their staff. So mass unemployment is just beginning but already we're seeing numbers like nothing we've ever seen before. Then the third wave is what he called the wealth effect. So there are all these people who have 401k's they have money saved in the market for the retirement. This is true. Everybody was particularly true for older people who are towards the end or Paseo end of their earnings. And now they're seeing those savings wiped out and so there's a lot of spending this group is going to disappear and then the fourth wave is business investment. So you think of corporations or even small businesses that were thinking of opening up a second location upgrading to better office. Space a media organization is going to start publication. Whatever it might be. That's all going to go on. Hold so all that spending those going to upgrade machines create new capital create new products. A lot of that is gonNA disappear from the economy for a while. So of Sandy's four waves were living at least the first two already. The ECONOMY STOPS UNEMPLOYMENT. Soars the next to our imminent if not already here. People can't retire and realize their dreams and industry has to scaled-back. Is there a way out? So those four waves. Zandi said they're definitely going to happen like they are already happening. But there's a question. Now is the kind of recession we have. What's called a v-shaped recession where the economy plummets in? Let's call it quarter to maybe quarter three and then rebound super powerfully in potentially quarter three quarter four and then into twenty twenty one in that case. This will be bad but not that bad. What Sandy said and this is I think. Clearly true is two things could happen. That could disrupt that and this is particularly going to happen. If we don't get the disease under control quickly. The first thing that could happen. Is We set a financial crisis financial panic somewhere so already seeing very scary things happening in debt. Markets in bond markets in currency markets are a lot of both countries and companies that need a lot of US dollars and they're having trouble getting them. The Fed is out a huge amount of new programs. Right now to try to deal with this but it's pretty scary so if we have two thousand eight in reverse a problem in the real economy that creates contagion in the financial economy. That's GonNa be very very hard to fix. That's GONNA be years dig out of the second which is also I think very very present as danger is a mass wave of business failures. More than fifty percent of small businesses cannot survive more than a couple of months without sales. They just don't have a big nest egg. Small businesses tend to be reasonably low margin. Except you even a lot of big businesses can't survive very long in a very down economy if their receipts have gone down. Fifty percent seventy five percent and so if you have mass closures then not only when the economy does come back. Do you have to rebuild those businesses or something like them you know? And that's hard right. You need to figure out leases. P- places need to rebuild. They need to hire New People. But also it's not like they're workers can just come right back on. They have to find new jobs. There's matching costs. It's hard to search. There's a lot of uncertainty in that and so if you have a huge wave of business failures it's very hard to come back. Because you've lost a lot of the structure in which the economic growth could have happened once you got back on your feet so preventing those two things a financial crisis and a mass wave business failures. That's really really important and Congress's hoping that's why this stimulus will do but what if it doesn't that's the best case scenario. What's the worst? The worst case in our right now is primarily economic. I mean the worst case scenario is an unchecked pandemic with millions of deaths hugely overwhelmed health systems creating behind it a total economic catastrophe in some ways the worst case scenario to be is one that we are beginning to flirt with because the worst case scenario is that we lose our nerve here at the Front End. There is an enormous return to acting quickly. You prevent many more cases if you are able to stop one person from passing on the disease to after that person has passed it on to ten people. If you're trying to stop ten people from passing it on we are already seeing at the highest levels of our political leadership a blink. My message is that Let's get back to work. Let's get back to living. Let's be smart about it And those of us who are seventy plus. We'll we'll take care of ourselves but don't sacrifice the country don't do that. Our country wants to go back to work and again to cure. It's it's like this. Cure is is worse than the problem again. People many people in my opinion more people are going to die if we allow this to continue. There's this fantasy of an economy out there that you could somehow just have the economy operating at full potential. Even disease is killing and hospitalizing millions of people. All at once right nine eleven's every day in this country and I think the raw right now. The curve of new cases in America's vertical we are rising faster than Italy was at this point. That's very scary. Because this is an exponential curve as you rise faster then rise even faster and so if what happens is we let off the pressure when it is currently completely uncontrolled but I think is going to happen. Is it three months from now or even two months from now? Maybe even just three weeks from now when our health system is overwhelmed. There's going to be an enormous demand for quarantine an enormous demand to get this under control and that will happen when the economy is now gotten much worse so Jason Furman Who was Obama's former chief economist? But he's been writing about this. A lot on twitter and elsewhere made this good point that he thinks the correct way to understand the choice. Here is between social distancing right now and a bad economy six months from now or two months of nothing and then two months of even more extreme social distancing followed by a much worse economy after that and so the nightmare scenario for me is one where we've let the disease get completely out of control and that also spins the economy.
"trillion dollar" Discussed on Today, Explained
"Madam president after five days of arduous negotiations after sleep-deprived nights and marathon negotiating sessions. We have a bipartisan agreement. On the largest rescue package in American History Ellison box Congress has agreed on a two trillion. Dollar stimulus package. It's historic nothing like it has happened ever before in American politics. At least in the modern era and it makes the two thousand eight stimulus which was something like eight hundred billion dollars. Look like small potatoes. How did we get here? So it's important to remember that the deal that Congress reached on this two trillion dollar stimulus package very early this morning. This is phase three of the corona virus bills so a couple of weeks ago we had phase one which was a relatively small eight billion dollars for research and development for Corona Virus Vaccine Research. Then last week we had a hundred and four billion dollar bill that went for free testing creative. Irs testing for every American including those run insured and expanded paid sick leave and other things even though there were some loopholes in that bill. But this as as you say this was. This was the big one This is a two trillion dollar package. That kind of has something for everyone. It has five hundred billion dollars for big businesses. It has direct payments to Americans that are struggling on an expanded unemployment insurance and it has money for hospitals okay. Well let's talk about each of the sort of one by one starting with the aid to businesses. This was the sort of contentious element that held this thing up a few extra days right. Yes so this is a five hundred billion dollar loan program for for big businesses including airline companies companies. That have have seen through no fault of their own. Their business just drop off entirely. Because people aren't flying. Economic activity is is really ground to a halt so compared to two thousand eight and two thousand nine when we were bailing out banks that had arguably caused the financial crisis that we found ourselves in the government is now quote unquote bailing out these big businesses that are seeing of huge loss of revenue due to current virus. The obviously did not cause so the reason that this was so controversial was initially in the first draft that Senate Republicans put out late last week. The trump administration and the treasury secretary Steve Mnuchin had very large discretion over this five hundred billion dollar loan program. Bill still includes something that most Americans don't WanNa see large corporate bailouts with no almost. No strings attached. Maybe the majority leader thinks it's unfair to ask protections for workers and Labor to companies that are getting hundreds of billions of dollars. We think it's very fair to ask for those. Those are not extraneous issues that is a wishlist for workers. Nobody else and so we are looking for protection. We're looking for oversight. So if you're worried that you know Steven Mnuchin was just going to hand out. Billions of dollars to companies that were favorable to the president. That ain't going to happen anymore. Yeah it's going to have oversight attached to it. There's going to be an inspector general within the Treasury Department and potentially a congressional oversight panel so there are going to be outside people other than Steven Mnuchin now looking to see how the money will be spent having input on how these loans will be doled out to businesses and it's five hundred billion dollars that are going to go to like big corporations. How much money was set aside for small businesses three hundred sixty seven billion dollars for a small business loan program It's just interesting. Like three hundred and sixty seven billion dollars concertedly shore up companies. That are losing money right now but it can't bring them back the business that they need to thrive right. Well I mean ultimately the only thing that can bring these small businesses back is is consumer spending right. We just can't do that right now. So and and this was sort of the argument that Democrats were making throughout negotiations. Was this this trickle? Down stuff and bailing out these. These big companies isn't necessarily going to get to the root of the problem because the root of the problem is just that people are trapped in their homes right now and they're not going out and spending money at their local restaurants and spending money at stores. I think that what Democrats are arguing is an in Republicans to be fair. Came around to this idea pretty quickly to of direct cash payments to people because ultimately what you're trying to do is get people spending again. Well let's talk about what individuals are getting. What kind of casher regular people going to get out of this two trillion dollar stimulus that regular people will pay for if you are an American adults? Who is making seventy five thousand dollars or less annually? You will probably be seeing a twelve hundred dollar check or a direct deposit. Show up in your mailbox or your bank account or however it's going to be delivered to the American people and it's important to note. This is a one time check. Thus far in less Congress comes back and approves additional money to to get people additional checks so if you make more than seventy five thousand dollars you are not going to receive that full amount. It kind of depends on your income and basically the idea. Is that people who are pretty comfortable right now and are making a lot of money. You don't necessarily need as much government assistance. There will also be a five hundred dollar payment if you have kids so five. Hundred dollar payment to cover every child in qualifying households. What else can individuals expect out of this two trillion dollars? Another big thing. That Democrats were talking about that. They got out of negotiations was what Chuck. Schumer likes to call quote unemployment insurance on Steroids. Nice and this is increasing unemployment insurance by six hundred dollars per week for four months so if you are laid off and you are getting unemployment insurance. Duda CORONA virus. You are eligible for an additional six hundred dollars per week to again. You know help you cover your basic expenses like rent and food medical costs etc So this money is in addition to what states pay as a base unemployment salary and it's important to note that this benefit extends to people who work in the GIG economy so uber and lift drivers post mates delivery people people who are freelancers and then also furloughed workers and these are workers who are not no longer getting a paycheck but are still getting health insurance from their employers and then the third bucket of this is is medical aid. It's it's hospital. Aid Aid to healthcare workers. Is that right this? Is You know right now especially in in hard hit places like New York. Hospitals are struggling to meet. I mean they. They don't have enough capacity for the patients that they're seeing a lot of them are complaining that they don't have enough basic medical equipment. Like ventilators and masks there are big shortages. Not So what Congress has done here for. Hospitals is add an additional one hundred fifty billion dollars to hospitals who are treating chronic virus. Patience is this going to be enough especially when we talk about aid to hospitals and healthcare professionals. It just sounds like it might be too late. I mean New York has already had to suffer as a result of lack of supplies and and lack of hospital. Beds I mean and then more broadly speaking is this enough to shore up. Americans and American businesses and the economy. I mean that is the two trillion dollar question and I. I don't think we know at this point. Birther were already seeing more headlines of of more people getting sick death rates are going up as well so we haven't yet seen the worst of this. I think that there is a good chance that if Congress sees the need that they can come back and pass more money. There's there's always a way for them to do that. But despite president trump saying yesterday that you know he wants this all wrapped up by Easter. There is no immediate late at the end of the tunnel and I don't think we know yet if two trillion dollars is enough to save us from the damage that Chris is is wreaking not only to public health also to the economy.
"trillion dollar" Discussed on Today, Explained
"Mark it's Wednesday march twenty fifth and the country's gearing up to make it rain two trillion dollars. I'm Sean Romney's firm and this is your corona virus update from today explained..
"trillion dollar" Discussed on MarketFoolery
"Dan Klein Dan. How are we doing? I'm doing well given the circumstances going a little crazy but working a lot and you know by all accounts do it. By how are you? I'm good Dan Strange Times. And let's get right to it because we're taping this around noon on Tuesday noon Eastern and at the time of our taping. I want you to to brace yourself at. The stock market is up and it is up big now. We have a lot of optimism. Tan Congress may be closing in on a two trillion dollar stimulus stimulus that would include direct payments as well as loan assistant programs for business. Now we don't know all the specifics. Dan Do right now. The market really seems to like the potential. The Dow up around seven percent investors feeling optimistic. Are you feeling optimistic? Yeah it's not even so much about the details. It's about kind of putting a floor on this. If we know that Boeing and southwest jetblue and other major industries aren't going to be driven out of business by this that that suggests that normalcy could eventually return. Obviously there's a lot of devil in the details but right now. This is just kind of creating some belief for people that eventually there will be a way out of this that there's a government backstop beat loans be a direct payments. That's going to help. People PAY THEIR BILLS. But also keep these companies open because these are all major major employers. I mean a lot of people will frame. This sort of government giveaway. But what are you supposed to do? The goal is to keep people at work and bat is leading to a ton of optimism. It Dan. Let's talk more about that. You just mentioned some of the Big Airlines and I'm wondering when it comes to the bailout piece of this. To what extent do you think the government will essentially be in the business of having to pick winners and losers having to decide? Who gets what how much. Yeah so. We've seen none of the details of exactly how this is GonNa work. But let's assume these are loans and that they're at least somewhat secured against the asset of the company. So the reality is I don't WANNA see failing companies get loans that keep them in business for another year or two when they would have died. Even if corona virus had not been issue. But I don't see so far a lot of mechanisms to stop that from happening. Obviously there has to be some sort of means. Testing looking at balance sheets looking at what company was doing but most of the names we've talked about. I mean obviously Boeing is headed struggles. But it was a fairly solid business before this. All of the the airlines. We've mentioned jetblue. Southwest those were on firm financial footing. So it's GonNa be the company's on in in some of the more struggling industries. We talked about retailers last week. Some of those were going away anyway. That's probably true of some of the hotel brands that have had their struggles Maybe some overbuilt casinos. So yeah we need to see the rest of this and some of this money might go to things that don't deserve when you work this fast. That almost has to happen. Okay Dan now. You're in Florida and I know from our recent conversation that you love a good cruise so I wanna you want to get your thoughts on how this might shake out for the cruise industry and specifically the big pureplays. Now we have carnival which owns Prentice and Holland America among others. We have Royal Caribbean. We have Norwegian are the cruise company is going to get some relief from the stimulus. And if not can they stay in business so I don't think they are because they're largely dot? Us companies some of their subcontractors. Might maybe some of their workers will be covered in different aspects of this. Obviously a lot of their workers are not American though. Of course their office personnel largely our citizens so but I can only speak to royal and Carnival I. I haven't looked into Norwegians finances but both royal and Carnival do have significant Barak Capability They do have a lot of money on hand. They have capital projects. They could push off in a time where it's GonNa take a while for demand to recover. They probably don't need to build as many new ships so assuming this ends in four to eight weeks or and people can get back out on the Ocean. They will probably make it through. I looked at all the numbers yesterday and it looks encouraging the challenge for them is will people come back. And as I've mentioned to you I have cruises book I fully intend to cruise this summer Unless the situation remains this dire of but this is an industry that's very very vulnerable to public perception and people. It's hard to know if they will think this is safe. Even when the rest of the world has returned to normal and Dan I wanna hit it from the public sector and the potential bail out here to the private sector were really starting to see some interesting partnerships in the private sector. We had an announcement today. That Ford will be partnering with Three M. and GE healthcare to begin producing facemask and ventilators. What do you make of news like that that answer some questions for me because when Ford and other automakers were talking about making ventilators and as someone who used to run a factory I thought wait a minute like how do you of the Tulane? How'd you have it on even like the blueprint for how to bake a ventilator? Is it that easy and clearly? It's not that hard. But they're going to get assistance from three M on how to make it. Some of the supply chain repurpose things like fans they use in certain ventilated seats To work in ventilator so this is industry sort of the best of the best coming together to make something that needs to happen happen and it's very encouraging okay. Dan and speaking of the best of the best. Let's Talk Olympics. It is now official now. We expected this. But it's official. The two thousand twenty summer Olympics have been postponed has been the Olympics is a collective thing so I gotta use the right verb. There Dan has been postponed now on Tuesday. The IOC and Japanese government agreed to postpone the twenty twenty seven Olympics quote to a date beyond two thousand twenty but not later than summer twenty twenty one end quote now. Dan. This is not just a sporting event. This is big business at comcast which owes NB NBC universal expecting more than a billion dollars ad revenue for the Olympics. Yeah about one point. Two billion in on the last Olympics. They made two hundred fifty million in profit. They might not make as much on this one because the last one was in Rio so you had a more favourable time zone as opposed to being in Japan but this was the only decision possible. Athletes can't be sticking to their training regimen so even if everything was all ready to go on the world is operational by mid July. You simply don't have the logistics to make this happen so postponing it's GonNa be challenging. The sports calendar is going to be very difficult. There's I believe thirty one. Maybe thirty two effected sports here and some of them like soccer. Have very busy calendars anyway? So there's a lot of moving pieces but you had to do this at because there was just no way to make it happen and this is largely. Revenue postponed not revenue. That won't happen. Unlike in some of the other major sports you're simply GONNA lose games and because they're in every year thing. There's no way to make that up. This is just going to change the Olympic cycle where they'll be two summer Olympics closer together Which might be good because it'll create some stories with some athletes. That'll be pressured people's memories and I WanNa talk more about that. Because obviously the other professional sports Have had either cancel or suspend their seasons. Baseball would be starting in a few days. Dan and that for me is normally would be very upsetting except an astros fan and that essentially just as the Astros Bernarda get booed everywhere. They play now because they're not going to be playing for the whole cheating scandal. But I'm curious when you look at Major League baseball the NBA NHL Other professional sports. That are not happening. Do you think there will be long-term effects from all this so long term and first of all when he said the Astros? I thought it would boo from here but as a as a red SOx fan of a little afraid of speaking to suit. Oh that's right. 'cause they announced the punishment for the red SOx right. Yeah the shoes yet. To drop the withhold by BOO look. I think sports are such a part of the American fabric that I hope we have on. Nhl Season I hope we have an NBA season even if it's shortened the way the NHL is talked about doing twenty four team playoff which would include every team including my New York Rangers That could have qualified. Had the season played out. I'd like to think we're GONNA get something we may not. We may get emptier. Rita stars competitions or just weird things to fill TV programming but eventually when we get to next season the demand will be a nervous. I think we all realize how much we miss boards and how much sports fuels I mean. I don't know if you watch. Espn BUT OTHER THAN NFL free agency. They are struggling to find things to talk about. So there's all these industries not to mention the fall TV season. That would be promoted around sports all this sort of different reasons. You Buy Watch sports. That's all I'm hold entire advertising businesses kind of on hold Dan. I WanNa talk more about that because I love that point because as we're all quarantined here right now you and I are using zoom video and we're recording the audio of course but more and more people using zoom skype and and all sorts of Whiz Bang Technology and so on one hand I can see that becoming more mainstream even when we out of all this people now know how to use zoom or they they know they have tools that they didn't have on the other hand. I can also see. People really appreciating the person experience whether it be sports whether it'd be live music that I love going to. I mean I feel like when all of this and I'm going to have a renewed appreciation for live events. Yes I think it's. It's a little bit of both I. We talked about cruises before i. I'm GonNa hug the first person I see when I get to go on a vacation to do something for fun And the same with concerts. I've missed out on some concerts on the other hand. Some of my favorite musicians have been using youtube resume or whatever it is to broadcast live from their basement so I've had some really fun somewhat intimate experiences with artists. I really like you know playing to maybe ten people. Maybe a thousand people so. I also think you're gonNA see a better understanding of not making stupid trips the example I will give. Espn has been having all of its correspondence from home and a lot of times they would fly in La correspondent to do a connecticut or New York Bay show for the day. And that just seems silly when you could do it over zoom so I think you're gonNA see acceptance of this works and it could be done better. This isn't the old skype videos being used on the news. You look like you're like a hand held camera from Nineteen eighty-four. This is really good technology. That's that seamless. And more people understand it. I think I've mentioned on a couple of shows we've done. I've done with other people that my mother had no idea. Zoom existed announced pretty big part of her world with with keeping in touch with her friends. And so we're absolutely changing behavior. But am I still GonNa go to in a sporting event? I absolutely can't wait okay. Dan and I think I buried the lead. 'cause I know that you are wrestling fan. So where where does this leave wrestling and specifically WWe WWF faces a pretty big challenge in that a lot of its revenue are? What keeps it? Profitable is television deals. And so far it's been able to fulfil those deals by doing empty arena shows at its training center There are very strong rumors that they've recorded a few shows in advance That wrestlemainia has already been recorded. Which is gonNA take place over? Two nights also would not shock me if they licensed wrestlemainia. Yes Bien because ESPN has been running some old wrestlemanias. I think to reasonably good ratings so for. Wwe The big question is at some point. Will they not be allowed to carefully controlled closed? Arena? Show is if they stopped delivering programming. They stopped getting paid and that does create problems. Maybe less problems. A lot of companies because pro wrestlers are contractors so while most of them have downside guarantees meaning minimums. They'll be paid. They're not getting huge money if they're not performing for the most part But this is a touch and go. Wait and see because you have see. Has it been able to put on scheduled events because they couldn't find a venue that would legally let them do it but because they are real sport there are Athletic Commissions? That regulate them. Wwe Is television so they have a little bit more leeway and so far they've been able to find ways to do it and a do have the ability to enhance some of their live programming with programming from their network with old matches dropping a lot of stuff in shows. So I'm fairly confident that they'll be okay even if they do end up with some sort of temporary disruption. Okay Dan. Let's wrap up with the desert island. Poll you're on a desert island and you have to own one of these stocks for the next five years..
"trillion dollar" Discussed on What A Day
"Today show. Were still covering the race in New Hampshire taking a look at the Latino community in the state in hearing from some voters about what they're thinking then trump's new budget and of course some headlines. Today voters in New Hampshire are heading to the polls for the first in the nation primary. The votes are actually going to be counted and people won't have to line up impact gyms than hope a haunted APP collects the Tallis properly. You know the future What's the latest out there? Yeah I hope that's the case. Monday was basically the last day of campaigning for the Democratic candidates they were skirting all around the state. Making their final pitches as we're we and one of the things that made a lot of the messages sound similar was the fact that trump was holding a rally in downtown Manchester so instead of a lot of the candidates spending time contrasting with one another are they had a singular figure to aim their fire at and then Senator Sanders. Who is the person we've discussed that seems to be leading leading the race? A lot of the other campaigns seem to think so pull seem to think so he had this really really large event with and the strokes. Seventy five hundred people were there. The campaign campaign said interesting amount of people that still down with the strokes but okay I disagree but Julian Casablancas have. Whatever I'm still asking? Is this at years later. Anyway bedrock we didn't end up there but we did spend the morning with Sanders. And then Senator Amy Klobuchar and finally Senator Warren and broadly. I think think you know the voters that we talked to were really excited about all the candidates that they had seen or who they are about to see but some are still sort of working through their options nations and it kind of seems like the way that things are going to likely shakeout. This might be a different year than normal. Where after Iowa New Hampshire? You often Z.. Candidates starting to drop out if things aren't coming together and they're struggling in terms of the results from from the states but for now at least a lot of these candidates are saying you know. Even if I'm not doing that great in New Hampshire I'm GONNA move onto Nevada South Carolina in Super Tuesday states. It really could be a situation where they're around five. That are still in the mix around that time I. It's just GonNa depend on what we see in terms of how they're able to still raise money and what the actual results assaults are on Tuesday night very cool. Why I mean you know? Bloomberg hasn't really been tested yet. We know he's spending a ton of money all over the country in traditional media so it things are likely to continue shifting. But we spoken about island New Hampshire being very wide states compared to the rest of the country. And there's this burgeoning immigrant community particularly a national with. Oh so you were there yesterday. What did you learn? Yes as around. Twenty eighteen the Latino population in New Hampshire was something in the realm of four percent small noticeable but small it is growing and the thought is that if elections continued to be close in New Hampshire. It's big enough percentage that these voters could be decisive if they are choosing to participate and who they're choosing to participate four and Nashua a city in southern southern New Hampshire of about ninety thousand. People is one of the primary places where this community is thriving i. It's it's different than a lot of the other cities in the state. We spoke to manny any SPCA a state representative in New Hampshire who represents an area in Nashua so Nashua is the gate city. We are considered one of the most diversities in the state with a pretty significant Latino and South Asian population at our school zero bus sixty two languages that are spoken with a very large minority. Population relate minority almost minority majority population. I mean I love living here. Lived here for five years and have the honor to serve this this city in the state capital yes. He said he'd been there for five years. And that means he was able to compare the last Democratic primary to this one and he said that broadly speaking the campaigns are trying to reach out to these voters. There's you know materials and different languages and sending surrogates that can speak to the community and I asked us. PTO also about the issues that are most important to this community that he serves. I mean housing is a big deal. you know. We're not New York City so we don't have like early Boston or even DC where we have outrageous markets. People here are still worried about housing. We have a very low vacancy rates. And that's something that people worry about in finding affordable housing education And then and also we have the OPIOID crisis which is a big issue? That people are surrounded by so I think those are the three biggest And then here's specifically like you'll see you like immigration will be an issue with families who have mixed addresses so I mean there was there were reports of ice and I've seen ice in this neighborhood so that's also a reality too so yeah well any observations from the day and the voters that you talked to. Yes so we wanted to try to include some of the voices of folks that we spoke to over the weekend at many of the candidates events they speak to what is on their minds. Better than I can. Here's a little taste of of what they were thinking I decided probably within the past month that I was going to vote for so originally I was for Biden and within the past like six months. I really feel like kids kind of let me down as a candidate like. He doesn't feel like he cares. And I feel like Pete cares on so that was really important to me you know. I'm still very young. So I don't really have a fully formed political ideology But right now I see myself kind of attracted towards Elizabeth Warren I I really appreciate her wealth tax. You know I just think it's kind of immoral that we've got you know four people With more wealth than the bottom half of us and yet some of my students are going home hungry at night. Well my wife and I are very involved in helping prevention of drugs and amy asked us. We'll way back in June to be on a panel with her Discussing her views on the OPIOID crisis in New Hampshire I don't know if you're aware of how bad it is in New Hampshire where I think the top three or four states unfortunately on saying top like it's a good thing but for the number of opioid deaths we've been averaging about five hundred year which is just horrible Bernie Sanders without a doubt. He has committed to taking money out of politics. Here's one of the first to bring up Or a race to the national raising the minimum wage to fifteen dollars Here in New Hampshire. We have no minimum wage so it automatically drops to the federal which is seven dollars. Some Twenty Five Cents Aka not type of wage at anybody could live with dignity provide for a family. I work at a food pantry. I see that the economy is not working for people I myself currently have two jobs and if it were not for the support of my partner would not be able afford rent things like this. That was Mikhail strong. In Nashua William Flaherty in Manchester Patrick mccune also in Manchester and Melissa Sandoval from Dover so the the only thing left to say is folks. If you're in New Hampshire get out and vote will be on the ground throughout the day tomorrow and into the night talk to you again. We have some results. I hope.
"trillion dollar" Discussed on The Wolf's Den
"Email before I Came over here From a twenty two year old recently graduated from University of Washington Aerospace Engineer. He did his first deal. One point five million bucks. It closed yesterday evening. I had dinner or a drink with him the night before and I said you gotTa do the takeaway close. I said time to fuck off and walk through the door and close news pro- Cross my fingers. That if he does it right he's GonNa blow up in his face okay and email. He says I did the hard close Mr Pena and it worked. He melted at the table or tell them. Don't let the door hit you in the ASS on the way out asshole and so I mean I often often that saddle. We just did that last week with someone that was like saying. No no no no Mike Technical. Fuck off thirty seconds later okay. Final do correct unbelievable. Yeah but today And my kids my I call everybody kid because I'm old enough to be grandfather. Father my kids that have used yourself. Say It's good I I've never used it. I'm a hammer closer. I'm not a finance closer. I either beat you to death at the table. I've seen the sun go down and come up at a coffee table. Use It because it's not magic. It's just it's the truth about persuasion so I find the greatest salesman in the world. You'd have stated but if you say Oh shit fuck it exactly. That's why I'm so good at what I do is basic truths about selling for that matter running business basic core truth that just run through it. Let me Gosh. I don't WANNA I don't Wanna you're beyond like steps for success but just if you can really break it down like if you're the average kid out that kid but what was keeping give me a cappella. What's the plan? I mean I laser. The laser beam focus. They focus one focused on the few not many focus on the menu meaning Most of the kids that are most adults have got four or five projects none of which are worth a shit okay and so. They're trying to make them all work because they're afraid to walk away away because they spent too much time develop in it. The great thing about the Internet is the results are instantaneous. Yet kids work on APPS and programs And enright code not for an hour a week a month but years and they get no results..
"trillion dollar" Discussed on Material
"IQ for their support of Material and tall of free. Latham all right. Let's let's talk about do so. Let's talk about video. Yes we have some new news about The Microsoft duo. which is you might remember? Microsoft's stops new plans for in two thousand twenty four to screen devices right talking about folding devices. We have one screen the fourth and a half. We're talking about two. LCD panels are led panels with the hinge in the middle of them which is gets more exciting more IC- actual practical explanations of how to work including this week Microsoft released developer tools and guidelines and a software emulator For this falls Duo of Microsoft do device which will be running android. They're having one vice. That runs the windows. One that is android faced And the Zach Boden Who is a designer created video video of the emulator so people can actually practically see how a lot of these demo APPs are going to work Then Jonas Stein art diner sorry of have went. One better took his video and overlaid them over like a press photo of just like the actual duo device unfolded actually see things moving from one screen to another other and I have to say that this video is pretty mouth-watering it the for a couple reasons number one that the plant right now because because that'll crash skype but the thing is like it's it's it's it's one thing to say. Oh well it's two screens for the hinge in the middle and it's easy to imagine uh-huh Great Sob- maybe. They'll be aversion kindle APP and I bet I can have like the be using Microsoft outlook or something and have like a a list of inbox items on the left screen. The my tap on one I can actually zoom actually see the full view of the email and the right screen but the way that the way that you're interacting interacting with it the way that things move from one screen to another really looks like a very practical and very usable device than where it's is really essential because any any one of us is who is a fan of android has been like. Why can't they figure out how to get developers to right? Good full screen APPS that love. Mike I love my chromebook but I thought that before I was before I got my first one. I thought that I mostly be over runs android so I guess I'll be running using it like an IPAD. We'll be running like android based local APPs and maybe some stuff in the browser but the thing is the the interface the full screen interfaces for Android APPS so bad that I do have Microsoft outlook the ANDROID APP on my chromebook. But I always get my mail through the web about because it's so much better so the worry is that if we if Google presents its developer's with here is a wonderful plan for doing like a multi APPs that span multiple screens developers. Will once again say we don't care we just WanNa make phone apps because that's where all the money is raised on a basic level so that one of the things things that these videos really explain and makes you feel good about. Is that even if you have an android APP that hasn't been optimized in any way shape or form the simple ability to have one one APP on on the left hand page are different APP on the right hand page. Each one thinking that's just running on A standard heard like I'll albeit may be weird aspect ratio. Phone that in itself works really well and the way that they've got in the android operating system and its gestures Allowing you to navigate between those two screens and applications running on those two screens is really really good and then you move one step ahead of that where obviously Microsoft has has already updated. The it's Microsoft APPs to that they will work well inside this email me later when you do get to see. A duo. Optimized version of outlook working in a duo version of office APPS working and I can really see myself When I don't when I don't get the the the one row of seats on the commuter train that has the little table if I feel that I can actually get an hour's worth of work done sitting in just like a normal bench seat because it's having this little book open in front of me and being able to actually get product productive worked on it seems like a really good way To leverage to screen separated by a hinge without thinking that you're running two separate android phones that have absolutely nothing to do with each other There's the idea of screened the folds and unfolds against single screen without a hinge. That certainly seems like an attractive sort of idea. But it's GonNa be a while before you can get a flexible screen on any device. Cost less than fifteen nine hundred dollars and it's always going to be extra bulk. It's always going to be extra complicated. And in the end it might not be necessary for to create a brand new form factor so it it really is a good sign that maybe could be actually good. Microsoft gives examples of suggested APP. Layouts it's One is extended canvas meaning treat both of those screens. One screen left sand screen as the master The other one is a detail to page H.. Lay out a dual view many of the same content but you're getting different views of it And companion page. which they're they're They're not locked in stone. As to what these things mean but things like companion page would mean something like you've got if you're editing a photo on the on the right hand page. You've got like all your tools and left hand page or you can have a a movie playing but details about the movie on another On another screen. I if all this is a great amount of potential but hopefully the thing is it will never work unless developers get on board and they can get if they don't. I can't imagine the the rock and roll tour buses full of swag that Google is pulling up in front of Amazon. Saying please please please do a two page duo version of the kindle reader. Because if you if you just allow us to have an APP that allows you to read a book like a left hand page right paying face that will be at least that will these bias enough time to arm wrestle the rest developers doing something name your price we will. We will by the first one hundred seats on your bogus like Mars tourism mission. We swear just. Please get a couple of interns to write a kindle APP that works with our our product. Yeah I was actually just thinking about that like two nights ago because I've been I've been reading a lot of parenting books. You know in preparation for my journey and kiss anybody's wondering I'm currently reading a book called Oxygen Baby. Nothing you talk about raising your baby. In the Berliner way it's called free range parenting. Everybody in unison. Roller is it. But I'm I'm glad I'm glad you clarified that because when there's a book often baby maybe now I hear a lot of jokes and a lot of concerns that I know well. It's because the woman is American and she keeps saying watch out baby but anyway so I've been reading it in every reading. It allows you to get the word on. You know what happened during the forties and right right. Well it's the book is not perfect perfect by the way just to give my little armchair review of it but it does have some interesting things anyway so on this journey I'm like reading. I've been reading a lot of books lately because it's been kind of helping me to get to sleep at night and I am reading it on the TAB. Three which is is a believe. The TAB has three is a nine inch screen. Yeah it's a nine point seven inch screen and I've been reading being in landscape mode because it's easier to carry. It's easier to hold in bed than reading it vertically it and it's really weird doing that and having the page cut in half. It doesn't feel organic so and I'm doing this by the way I exclusively use. Google play books because I don't I don't put my money into Amazon's kindle I'm Google playbook person and and sometimes they use co books and I don't like the two page thing and so when you were talking about the do I was just thinking about how great it would be to be able to just have avid device that that feels attacked. You know has the tactile feel of a book. That's what that's what I really want. I think that would make me more comfortable. My husband likes his kindle paperweight. He likes the the background lighting You know it's really comfortable on. His is very lightweight lightweight piece of hardware. But the way that I use a tablet Gosh I would just love to have something that I just. Kind of clamp clamp opened enclosed. Kind of thing. Like I'm I'm really into that user ability so let's see if Microsoft kin start us out on a journey towards something that that could maybe help bring Andrew tablets back into the fold. It's it's such. I've always thought that that form factor is such a compelling concept that we've had the CIA. I agree we. We've been in a boring Rut of How how useful and efficient complaining about it? But it's for for twenty is the thirty years we've had laptops where here's a screen. Here is a keyboard. Here's a hinge that separates the two of them and it's exciting to see the potential of having a a device that can do so many tasks and mechanically adapt to how you want to function the idea of having a virtual keyboard and an opening at like laptop and having the the flat screen on the on the table surface being like a virtual keyboard the idea of having an open like a book whether you're reading the virtual keyboard though sorry just as not just then but when you wanna read a book it could be like a book reader when you have have like an email reader where it really is. I need to manage the last one hundred eighty items that have hit my inbox. I need to get through them really really quickly or I need to look something up in a browser Window while I'm replying other email and another window or even as simple as having so much of a so much of my week is a Google doc for a radio show or podcast where I've got one window. That's the dock that I'm writing or any other project and another window that's the research beat a PDF whatever And then being able to full that folded a three hundred sixty degrees around itself and just have like a compact tablet for reading comic books and stuff that this is I I i. I recognize that I'm speaking just as well of the windows version of this guy potentially as the android version of this but this is a super compelling form orm factor and I hope that there are a stable developers. I've always wanted something like this and are going to write apps just for themselves that happened to be useful for eighty eighty percent of the people that are out there anywhere. It's nothing that I have. Money earmarked for the duo or the windows version of the duo. But it's I can definitely it's one of those things where I'm sort of aware aware that this could be something where I convinced myself but you should really but instead of getting one on loan for you should buy one for research for extended research for for the hardware library. Andy don't don't think about whether it really really works. Well and yeah and the eight year old kid. That's wants something shiny for freeze birthday talking. And by the way last night I was trying to convince myself that the the pixel slate which is like on super sale right now offer four fifty on Amazon for the quorum. Three I was like I should buy this just like see what it's like to have this and then I realized that I wouldn't really be able to use it the way I want to because I have to pay the extra like basically to three hundred dollars to have the full kit and caboodle. And then I'm like this is. This is as much as laptop. Never mind I'm just going to stick with my old outdated tablet and my chromebook and every other piece of hardware that I have right now and and also babies apparently need diapers and stuff so and and also to healthcare in. America doesn't fully cost or does it fully cover the cost of. I'm having a baby in a hospital and I know the Oliver Overseas listeners. or go up you Americans and go. Yeah you know I have to. I have to back off and maybe apologize for something I said at the top of the show. Maybe the reason why some of those people are like stealing all the napkin dispensers. Dunkin donuts is. They've got some sort of a homebrew duct tape like disposable diaper plan that at..
"trillion dollar" Discussed on Material
"Me. So if you see me outside I am wearing significantly less then. Everybody else is because it's wintertime in California which means is in the low fifties which for us is like winter. So and I'm out there like Luella Floppies man. It's really hot out here. I've actually been freezing out my husband because I've been turning the heat down really low also because I'm trying and save some money because apparently babies needs to be in a perpetual seventy three degree heat like heated room and sound like. Oh my God it's going to be so much money anyway. A quick gimpy gimpy Bush update last week. We were number two and three and this week. I feel like the fact that we keep mentioning it somehow puts us into the search engine like okay so we can begin begin beginning. We're just GONNA keep saying it. Maybe it'll help our numbers next week right now. We're number one. We're number one one top five pop. Most we're top five and in three places for that I again just want to remind everybody. A lot of stuff has been going on Australia. We talk a lot about Australia on in here. Because one of our former CO hosts is a is Australian. Is Living Australia and we think about him. Russell slowly hope you're safe and okay and doing fine You know everyone.
"trillion dollar" Discussed on The $100 MBA Show
"Present home I'm also the CO founder of the Hundred Dollar Mba business training and community online and today's episode is must read episode on our must read episodes show comes from mail chimp so you're ready to make that side-hustle your main hustle now was cert- with the all in one marketing platform for Milton that's what it has everything you need all in one place to give you a new business strong start with the right marketing chips visits with easy to use tools like the number one emails marketing solution website builder and social posts schedule. We've been using show for over five years and I love it because it's so easy to use learn more about the all in one marketing platform at MAIL CHIMP DOT COM this book trillion dollar coach His all about Bill Campbell probably the most well known business coach of all time the interesting thing about bill was that he didn't really need to understand the inner workings of every little thing in a business to help the business leaders used lot of the concepts that he learned as a football coach in American football coach on the field I want to share with you the overall insights I got from the book but more importantly the impact it made on me one of the biggest themes that is shared in the look at bill really emphasize the power of team and had to make sure your team works well together that come they come to a solution together they value each other's opinion any seek each others opinion you as the leader of the business the CEO you're the coach you're the person who makes sure that they do the things they need to do and support their progress and I love this metaphor because it reinforces the idea that you need to make your team but hitter you need to give them challenges you need to give them the opportunities to step up and your job is to keep them focused and keep their eye on the prize the goals that you're trying to set out for the business your job is to give feedback her job is to allow them to have opportunities to ask questions so this theme it is throughout the book the idea of being a coach and not just a leader not just a manager is so important now there's a lot of strategies that you can dig into in the book talks about management we talked about how to lead a meeting talks about how to evaluate people how to make decisions all that stuff is in the book and you're going to dive into it and find out for yourself raw comes from this analogy and I really love this analogy and it keeps coming back to in the book because it's a formal you can follow it's a formula that you can really fall back on every time you're a little unsure about how to approach a situation on your team using this analogy as a coach instead of just a manager you can apply to every aspect of your job even the way you communicate with your team when a coach is on the field and they need to tell their player something they get straight to it they just tell them what they need to do and they sandwiches with motivation with her it's clapping or good job or a panel back the point here is is that as a coach you need to course correct and you need to just tell people honestly and transparently what's happening and what they need to do if you're remember you might be a little bit loss especially if you're new and it can get more confusing if you're not just clear about what you expect Bill Campbell was also a man of very high character there are many mentions in this book of what a warm and kind person who was how he greeted everybody with a hug treated everybody with a hug in fact the book actually opens up with a scene Noble Campbell has passed away in the scene was at his funeral all the different types of people that were at his funeral from highly successful CEOS to his golf caddy at the Golf Course everyone he interacted with felt special title and they felt like bill was their best friend who is a man of integrity who's a man that always return people's calls he made time for people and one of the things that really impacted me was the emphasis of valuing his relationships in his life he really valued relationships his net worth right how many deep connections he can make with people so much so the everybody thought that he was closest to them mm-hmm but he was close to everybody any time for everybody which is very interesting how he's able to convey that feeling to people and I find that very impactful because you know we ever lives you try to accomplish our goals in business we try to achieve great things tree great products but the relationships we make along the way whether it's in business whether it's employees whether it's with other businesses or our clients or people in the media or whatever it is this is happening all the time people are really evaluating who we are as a people on a regular basis and if you want to leave a legacy that matters then is a good idea treat people nicely and I really like this underlying theme the book that he treated everybody so well so nicely with warmth with care and he was genuine and heartfelt it makes me think how treating everybody I'm interacting with WANNA shift my focus in today's listen with the overall impact and Kinda takeaway I got from the book and I think the gift the bill Campbell had was clarity yet clarity and everything he did he was clear about what he expected from his team he was clear about the instructions he gave the people he coached whose clear about the decisions he made and this is really important just to be clear Bill Campbell was a high power exotic as well he was the chairman of the board of intuit who was on the board apple he was on the board of Trustees of Columbia University so this guy definitely walks the talk right but in everything he did it was very clear there's no ambiguity there's no reading between the lines and this is so important as a leader and as a manager your team really needs to understand what they need to do what's required of them how did he succeed in their jump big touching base with his team members touching base with the isn't managers and making sure that the leadership was doing their job I'm gonNA share a little story from the book Larry and Sergei from Google founders of Google when they started google they said why do we need managers managers let's just let the teams decide what they want to do and what to work on and let them just focus on the product they really didn't have any corporate experience it came straight out of college and they just adopted the model of a university were students is really produced the work so when Bill Campbell came along and was coaching them in Google he said no you need managers this is not healthy for the organization to have no managers in place the engineers would perform better in the company overall perform better if there was management they didn't audit and they couldn't decide so bill say hey listen don't take my word for it less what's the engineer's a see what they want and they went in the asked the Google engineers hey do you wanna manager they all gave a resounding yes as a response yes I want a manager I want somebody I can learn from I want somebody I can have as a mentor it would help if I knew it was on track I would help if somebody can help me and guide me throughout my career Larry and Sergey realized bill has a point these engineers are really good at engineering that's their superpower and to ask them to also be really good management is asking too much so we should take that off their plate so they can focus on the superpower and give them a manager give them somebody who can help them organize their projects as well as be their mentor and course correct them when needed and they say the book because of that decision most of us are doing google searches and not Yahoo or bing searches you know bill kind of talks about you know innovation is very important but everything has a cost at what cost are we going to innovate to what extreme larry and sergey wanted to innovate to the point where there was no managers what's the cost of that didn't even perceive that there was a cost so ask yourself as an exercise anytime you try something new or something different what's the cost what's a trade off just so you're aware of what you're losing and gaining going back to my biggest takeaway of clarity sometimes things get busy in a business like currently our software business manager is super busy where a growing team and allocco marketing things go on content engineering is working on projects customer services working on their own thing.
"trillion dollar" Discussed on Windows Weekly
"I think that's how most of their customers have encountered it and how they're deploying it why they're deploying in center. So I think that. Speaks to that a little bit. When it's ten obviously didn't really move the needle as eight hundred million number again. They also said that office three sixty five commercials growth, which is twenty seven percent was due largely to the strong performance of Microsoft, three sixty five in education. I thought that was really specific. So I think we gotta come a little Microsoft three sixty five tidbits in there that were interesting. And then on a slightly more humorous note. Did you notice that the word Japan came up three four times? Yes. So it really kind of stuck in my brain. So they said that results in Japan were much stronger than we anticipated Japan was responsible for team percent increase in productivity and business processes revenues for office three sixty five consumer growth and for much of surface revenues growth as well. I mean, somehow it's like it's the nineteen eighties all over again. Like, the the Japan is just like was all over there. It wasn't in their documentation for the quarter. I don't believe, but it was all over. That's right. That's right. I thought that was really strange. It was it. An and I I was having a call at them about something, and they mentioned Japan. Also, I'm like, wow, Japan. Japan's getting left him, right. I thought that was kind of interesting. What about XBox XBox is never been a good performer in Japan, right? A rough market, and it's always been tough. I mean, they when they first entered the market. Of course, they I console was tank, and it was his gigantic box. And a lot of Japanese people live in smaller apartments, smaller homes, and it just didn't really fit in. The course. Yes. And. These company in the game. And maybe they don't right. So Japanese companies in the culturally thanking they don't have a handle on the Japanese game market like the companies that are based in Santa Lucia. No. Of course, it's kind of like the problem. Apple phases in China. These days are Samsung does too right. I mean when you have China Chinese based smartphone makers who can really target that market with very specific things that Chinese people want. It's hard for these other companies that don't have that to compete effectively. So that's kind of been a problem all three generations for Microsoft. The remember the the original XBox ship with gigantic controller as well. And they because of the Japanese market they redesigned it in something called the S controller that was so popular it became the default controller for the XBox three sixty and has formed the basis for all of the XBox controllers ever since. So that's stupid big goofy. I forget the name of anti kind of a funny name, whatever that thing was called the original. Is you know, has kind of gone by the wayside because of well because they were trying to, you know, get into the Japanese market. What was the name of that thing? Someone in the chat rumbled out the original XBox controller OJ controller it had a funny name. I can't remember not the we the no it was like it was really it was almost round looking at it. Head like low. It was big. And there was a funny who it was like a big the Duke thinking, the Duke, according to Alex couple who is correct. The pride of the twit army. Colonel gumbel. You've got near Gumbel in my podcast that Carson often say the Duke. Yeah. Late again cars. Half an hour. Show up and say, I know just like Thrum thrown as suspenders give you the answer. Good. I'm glad you all the. Yeah. Absolutely. Right. The duke. Okay. We really wasting time on that. No. We spent time wisely on the time wisely. The Duke anything else to say about very innings. Well, you mentioned the one trillion dollar thing that kind of came. Yeah. But good for them. They deserve it. I I pointed this out when I saw it. You know, when Microsoft announced his earnings, they release a bunch of documentation to their investor website. There's the press release, obviously, there's a spray..
"trillion dollar" Discussed on Talking Tesla
"That's good business to be in our do that european it sounds good year the global broadband market white worth about one trillion dollars a year excuse me that's more that is a little bit let me just do the on that a billion is loons and trillion incur the six it's a ton lower long i got for sure we are giving an order of magnitude the best thing without the thing no one's ever going to hear what you just sad that that's a ton that starts with an f yeah yeah and and it's within tanya i mean it's a law it's an order of magnitude more there's so many wary orders of that we could have gone with evidence actually you handle the not on gentlemen near welcomed so this is like something that's going to put speight you know how much will spacex be worth at that point one hundred and seventy two dollars 94 four it's going to be so valuable can you imagine if they pull this off and that i've got fast broadband network road across the world and i can get from melbourne sydney australia laos of portugal and i've just got my voice in un apple more countries uh the scotland i go anywhere uh i'm just pine tests are hundred bucks a month royce outta world both of access how quickly will i say to eighteen take but by yeah i don't i don't know how quickly fuss and there are very funny this is pretty impressive they talked about where's the new bfr factory going to be so she spells it out louisiana and we talked about the nasa site that was in louisiana i forget the name of it just now but they want to keep it near the water because they said it's too expensive to move big things from the hawthorn factory to the harbour quote we price transport to the harbor and it came out to two and a half million dollars per trip.
"trillion dollar" Discussed on The Jason Stapleton Program
"Because the american people don't and that's all he cares about when it comes to getting reelected but let me explain it to you guys twenty trillion dollars in debt a hundred and fifty two two hundred trillion dollars in unfunded liabilities at stuff that we promise to pay for but we haven't yet had to start paying for hundreds of trillions of dollars the government continues every year to spend a trillion dollars half a trillion dollars more than it brings in do you think that that's never going to have an effect moore couple of weeks ago before i left i talk to you about budgets and i said the government will try and convince you that the the same rules of economics and budgets don't apply to them that apply to everybody else that the rules are somehow different and i said don't believe them if it doesn't work for your own household a dozen worked for government think about this for minute let's just say you continued two spaniards he made one hundred thousand dollars a year and you ended up spending a hundred and ten thousand dollars a year every year ten thousand dollars more than you brought in it's actually be closer like it to be accurate it'd be closer to like one hundred fifty thousand dollars a year so you make a hundred you spend two hundred and fifty and he's like i would put on a credit card we can finance that as she is i mean that she's an extra three hundred bucks a month and then the next year you do the same thing in the year after that you do the same thing before you know you got four hundred five hundred six hundred seven hundred thousand dollars.