for the 20th straight week more than 1 million americans have sought first-time jobless help, even during the great recession that number was never higher than 700,000. at least 33 states now have orders in place that require people to wear face coverings in public. we'll check with one mayor whose state just joined that list and may soon be the largest hotbed for covid in the country. and only 44% of black families own their homes compared with nearly 74% of white families. what's at the root of the difference?

racism. "velshi" starts now. good morning. it's saturday, augustth. i'm ali velshi. russia is once again interfering with america's political system. once again for the benefit of donald trump. that's according to american top encounter intelligence official bill ebonina now leading election security efforts at the office of the director of national intelligence in an almost exact rerun from last election he says that russia is trying to help trump by actively working to undermine his opponent, only this time that opponent is joe biden. last night the chairman of the house intelligence committee, adam schiff, told me exactly what this means for american democracy. >> the president says, you know this is new information, the information is not new.

all that's new is that the office of the director made it public. but unless the president is not briefed on this or readingerter possible that they're not willing to tell him because as he said today he doesn't care what anybody says, he is not going to think or believe ill of his friend, vladimir putin. and the result is that our elections go unprotected. >> he also says that china does not want trump re-elected which is not surprising considering that trump personally ignited a trade war with china and he's laid sole blame for the covid-19 pandemic on china. even using highly derogatory terms to describe the disease. china's interferencers are nowhere near the level of russia's russia's. iran also doesn't want trump to

win and is undermining democratic institutions in the united states. also an unsurprising development because, "a," iran hates the united states which got itself out of the iran nuclear agreement, which was working. but he essentially admitted to waging economic warfare on tehran. speaking of an economy on the wrong track, for the second time in the last five elections the united states has a jobs crisis. however this time the new number of unemployment -- the number of new unemployed americans on a weekly basis continues to dwarf the worst of the great recession. for the past 20 weeks more than 1 million new americans have filed for unemployment. before the pandemic the number was never above 700,000. 1.8 million jobs were, in fact, added last month, it's not nearly enough to counter the weekly losses and it's significantly less than the 4.8 million that were added in june showing a slowdown. the unemployment rate in this country stands at 10.2%. and like 2008 we're on the verge

of a massive housing crisis. only this time it can be easily averted. new research reveals that 32% of american households, almost one-third had outstanding rent or mortgage payments at the beginning of august. a new study estimates 30 million to 40 million americans are at risk of losing their homes in the coming months. up to 43% of renter households could be evicted by the end of the year if there is no action from the white house. the white house chief of staff, mark meadows, said last week that president trump did not issue an executive order extending the rent and eviction moratorium because trump was hopeful the democrats will see how many unemployed americans they're hurting with their negotiating tactics, adding that the democrats don't know what a compromise is about. now, let's talk about that for a second. compromise is a key word here. here's what a compromise is. you get some of what you want in exchange for some of what you don't want. in a perfect situation, each

side meets in the middle to make a deal. the democrats offered that deal in an effort to break the stalemate in the coronavirus relief negotiations. offering to meet in the middle for the benefit of the american people. but to the trump white house, if you have not found out now after the past threes throu plus year history, a compromise is my way or the highway, all or nothing. everything we want. the losers continue to be americans. >> we have been mightily trying to find common ground with our colleagues. it's hard when your values are so different in terms of bubble up from the working class families instead of trickle down from above. yesterday i offered to them we'll take down a trillion if you add a trillion in. they said absolutely not. if we could do that, if we take down a trillion and they add a trillion, we'll be within range. >> as we said, we are willing to

make compromises. the heroes bill is at 3.4, theirs is at 1. the speaker said let's narrow it each. you should have seen the faces. no. you want it all to go your direction or you won't negotiate? they saidya. jo said yeah. joining me now is my former partner and co-host but most importantly my great friend, stephanie rhule. buddy, thank you for joining me. it's good to see you. i love being back with you, my friend. let's start right there. the republicans want a lot of spending. the democrats want -- sorry, the democrats want a lot of spending, the republicans want very little. they went in, tried to get a

deal in the middle, it's not there. here's the context, there's been lots of money available and rightly so for corporations to keep afloat so they can keep employing people to be able to borrow money. there is a money tree when it comes to corporate america and that's why the stock market is soaring the way it is. but about 20 republicans in the congress have told -- in the senate have told mitch mcconnell we're done with this. we're worried about the effect this will have on the national debt. that's kind of remarkable to me. >> remarkable. you know as well as i do, historically republicans do care about debt and deficit. they certainly have not in the last 3 1/2 years. think about the massive corporate tax cut in 2017. you saw even the likes of gary cohn, the president's former national economic adviser saying we were happy to do that cut but in retrospect we probably cut more than we needed to. the fact that the president is talking about a payroll tax cut, that will only hurt debt and

deficits. when you have so many people not working, that doesn't help any of them. it's rich to see republicans now make the argument they're worried about that. yes, there needs to be oversight and concern about where every dollar goes. but given how much spending is happened to help big business, it's stunning that our most vulnerable americans are now sitting here approaching a desperate situation. >> when we covered the tax cuts a few years ago, we talked to republican after republican, they said it's not going to increase the debt. it will increase gdp and it will cause the average family to get more money. it didn't actually happen that way. when you look at where our debt comes from in america, it's from tax cuts and wars. the republican also have you believe it's all social spending by democrats, but that's not where our debt comes from. >> the whole argument with those big corporate tax cuts was that it was going to trickle down. these businesses were going to hire more business. they were going to increase

wages. when do you that, it goes back into the economy. that's a huge positive. except that didn't happen. companies invested in r & d, we didn't see a huge amount of hiring. right now 1 out of every 5 americans that has a job has faced a pay cut. however when you saw the stimulus, those $1,200 checks or when people were getting expanded unemployment benefits, what do they do? they spend it in the economy. in the last month consumer spending and retail spending went up. that's because people had that money. when they don't, you are not going to see that spending. it will hurt the economy. >> you are a working mother of three school age children. you are sure thinking about this the way parents across the country are about going back to school. talk to me about that. talk to me about what's involved in the federal budget and funding, schools getting up to speed and how you feel about kids going back to school right

now. >> okay. let's just talk about it economically. the president is saying over and over and over reopen the schools, reopen the schools. my question is with what money? the teachers union has already said it would cost about 1$116 billion to reconfigure schools to be safe for kids to go back. right now the federal government has allotted 13 billion. let's just say those schools don't reopen and more and more kids are going to remote learning. what does that mean for working parents? there's no national child care plan. parents, even if they have a job to go back to, they'll have to opt out of work to stay home and care for their kids. when you voluntarily leave your job you cannot collect unemployment. the whole idea -- even if schools reopen, there's no after-school programs. so for working parents there's very few jobs out there that end at 2:30. this whole entire thing goes back to where does the money come from? let's say i do have a job, if that job doesn't offer me health

care or if the republicans get their way and businesses get what's known as the liability shield, if their employees get sick, if customers get sick, they're not liable for it, you have a huge health risk. then i could potentially get sick and not have any money to care for myself beyond how sick i could get. this is all rooted in economics. when you hear the president say people don't want to go back to work, come on. maybe there's a small portion of people that are getting more money now or were getting more money on expanded unemployment benefits, but the vast majority of people, that's not the case. when you talk about those big businesses doing so well, many of them are. but small businesses aren't. we lost thousands and thousands of small businesses which employ almost half of this country. if you think there's a hiring boom somewhere, i invite you to tell me where that is. >> yeah. it's been a while since you and i have done velshi and rhule, but last time we were on together you were telling me

that ivanka trump, wasn't she building a national child care program or something like that? >> exactly. ivanka said out of the gate there's going to be a national child care program. when we talk about child care in the country we get all jacked up. now we're going to have maternity leave and paternity leave. that's great, but that's a few weeks. people are caring for their children for 18 years. even thousand when we talk about the day care drought in this country, which we had before, that's for kids 0 to 5. what do you do with your 8-year-old and 10-year-old? do you leave them at home to care for themselves? if you don't have a job who will pay for the wifi and for this rent moratorium f that is now at risk and we have 28 million people facing evictions, kids are going to school from home, what if they have no home? what do you think about this, ali? >> i come from canada, you know

what i think about this. i think child care and universal health care are things thatter other developed nation not only does because it's good values but it's good value. when women have to make a decision between working or expensive child care, some women make the choice that the cost of their child care is lower than the cost of working and paying for child care. it's ridiculous. it means we don't get the efficient use of everybody in society. we are underemploying women and then to top that off, the last recession was real estate, so it affected construction workers, finance, so it affected a lot of men. this one is essentially a she-session. women are getting hit harder. women who always had a tough time are now being put out of their jobs at a faster rate than men are. >> absolutely. and you know women especially african-american women, latino

women are occupying a lot of service jobs, jobs in the hospitality business, an industry hit the hardest. >> steph, let me ask you one question. one thing we know is going to happen for women is that there's going to be a woman vice presidential candidate on the democratic ticket which means there may be the first woman vice president in america, which means in 2024 or 2028 we may have the first woman president in america. how much of a difference do you think that makes? >> i don't think that's a big deal just for women. i think it's a big deal for all americans. it is so important to see different people in different leadership roles. the fact that you've got more women graduating at the top of their high school class, more women graduating from law school than men, and we still have a drought of women at the absolute top, it is due time to see a woman in the vp seat, then hopefully as president of the

united states. it's a huge -- it's hugely important in terms of messaging but also important culturally, how we see our leaders. >> we have a lot to talk about. i miss you, buddy. >> i miss you, ali. >> people say on twitter what happened to you guys? did you have a fight? we didn't have a fight? our ride is not over it will continue one of these days. good to see you. thank you for joining me. >> i never forget, your hair looks great today. >> thank you for saying that. i got up early to take care of it. stephanie rhule, my friend and partner. the anchor of msnbc live, 9:00 a.m. monday to friday. yesterday the united states reported more than 2,000 covid-19 fatalities, it's the first time since may that number has been that high. 161,436 americans have died from covid-19. nearly 5 million have been diagnosed with the disease. there are 19 million cases in

the world, america has 5% of the world's population, it is the most developed nation on earth, and we have a quarter of the coronavirus cases in the world. now, new projections from the university of washington health metrics and eevaluation, which is one of the most prominent teams modeling the pandemic, and this is the one that the white house used for projections until the projections became embarrassingly large for the white house. this projection shows the country is on track for 300,000 covid-19 deaths by december 1st. that would make it the third leading cause of death in the country this year behind only the top two, heart disease and cancer. remember the president said a couple months ago that keeping the death toll at 100,000 would be a very good job. but that it would be significantly under 100,000. now he has a new tactic,

shrugging all of it off with one of our most common idioms. >> they want to get their advice from you. so when they hear you say everything is under control, don't worry about wearing masks, these people, many of them are older people. >> yeah, under -- >> it's giving them a false sense of security. >> right now i think it's under control. >> how? 1,000 americans are dying a day. >> that's true. it is what it is. >> a 35-minute interview that was done with the president the other day. pull it up, watch the entire thing. one deeply red state that most likely doesn't want to hear it is what it is right now is mississippi. the situation there is becoming increasingly dire with surging cases and deaths and even worse the vice chancellor of the university of mississippi medical school said their icus are full and have been for several weeks adding that some hospitals in mississippi have been forced to send patients,

not to another hospital, out of state for treatment. we heard about that yesterday in texas. people going to arizona and oklahoma for treatment in texas, one of the states with the highest numbers of doctors and medical centers in the world, not just the country. also on tuesday, governor reeves issued the state's first mask mandate. it will last two weeks. two weeks, that's big. the mississippi department of health reported 23 new covid-19 deaths and 1,036 new cases yesterday bringing the state total to over 65,000 cases and nearly 1,850 deaths. most of those deaths are concentrated in heinz county, which is home to mississippi's capital and it's most populous city, jackson. the situation is so serious that the city of jackson just implemented an overnight curfew in effect until this coming tuesday. joining me now is chokwe antar lumumba, the mayor of jackson,

mississippi. what is the situation in your city? >> it's critical. the hospitalization rate being so high, the amount of infections are concerning to us. we need the state to be proactive. we're disappointed at how slow the nation has been to respond to this pandemic. >> let me ask you about this r curf curfew. on wednesday you implemented a curfew, it goes from midnight until 5:00 a.m. the exceptions are first responders. the curfew will be effect until tuesday. what are you hoping to accomplish? the idea that people don't get together for get-togethers, parties? >> that's what we're aiming to achieve. our decisions have been made based on the data. we've found the demographic with the highest rate of infection are 18-year-olds to

29-year-olds. therefore we felt it was important to shut down the bars and nightclubs. it's been those young people that have been carrying the virus to their parents, their loved ones, those that are most susceptible to the virus. they have the worst effects of the virus. that was an effort aimed at stemming the spread of the virus amongst that demographic. >> i'm in philadelphia, but in new york, for instance, where we got this under control, we have a testing positive rate of 1%. if everybody were testing, about 1% are coming back positive. in mississippi you have one of the highest in the nation, of the tests being conducted, more than one quarter are coming back positive. so this sort of belies the president's idea that we have more cases because we're testing. you're getting a lot of high positivity rates. >> the president is grading

himself on a curve. this is a critical circumstance. we see that, you know, here in mississippi this is the absolute worst place for this to take place. we know that black and brown communities are most deposition me detrimentally impacted. we already had a deficit in terms of people having access to health care, so that is a circumstance that is being exploited by this virus. and so that is -- those are the things we have to look at when we look at the rate of positivity. we know we have a number of people, you spoke in your last segment about the economic effects of this virus. so many people work in the service industry. they can't afford to stay home. they're considered essential workers. >> right. >> making them more susceptible to coming into contact with the virus. these are all things that, you know, are really exposing where we've been missing the mark as a nation for quite some time.

>> you make some interesting points there. the economic situations exacerbate this, but what you also have in mississippi is you have a high rate in your population of what we call comorbidities, the things that can accelerate illness and death, those are obesity, hypertension and stroke, heart disease, all a little more common in mississippi than in other places. part of that is a -- is an element of income, some of that is where people live, the proximity to hospital, a lot of it is lack of universal health care that people get these illnesses, and instead of getting treatment for them, they don't have coverage, so they don't get it. that stuff all increases peoples ability to get this infection and die from it. >> yeah. if voting rights struggle was the moral struggle of the 20th

century, then access to health care has to be the struggle for the 21st century. you have people making dinner table decisions choosing between feeding their families and health care. in that situation it seems like a luxury rather than a necessity. so we have a national or international pandemic, and it really reveals there's little difference between a nation that has the ability or has -- lacks the medical advancement to provide health care to its citizens, and a nation that has all of the ability, but chooses not to over economic justification. so those are the things that we're really seeing at this time. and unfortunately places like jackson, mississippi are getting the worst of it. >> there is not even a good economic justification for it. that's the funny part. we spend three times as much as most developed economies on

health care in the united states, and our outcomes are not actually better. canada spends less. the united kind dom spends less and germany spends less and they have a better outcome. actually if you're a conservative you should be saying let's do universal health care, you get better outcomes for the money. access to health care has to be the struggle for the 21st century. we will stay in touch with you and on top of the situation in jackson. mayor chokwe antar lumumba, thank you for joining us. the main voting issues in wisconsin's primary, long lines was just one of them. i will speak with congresswoman gwen moore coming up next. come on, no no n-n-n-no-no only discover has no annual fee on any card.

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it is concerning that we have had to essentially pull teeth to get the intelligence community to issue the statement it did today, and we still want them to share more with the american people. if you don't call them out, if you simply equate what the russians are doing with what china may be doing or iran or north korea and you fail to distinguish, you're basically giving the russians a green light. they know they won't be held accountabl accountable. >> that was representative adam schiff with me last night on "the last word."

this latest report wreaks of 2016 election interference with a twist. we're now voting in the middle of a pandemic, one that the trump administration has not really helped to quell. for the most part pretend it didn't exist until recent weeks. in this world the safest and most effective alternative it would seem would be to vote by mail, trump maintains his baseless attacks against the process but only in those states he thinks he needs in his pocket to win. the president seems to praise florida's voting system. senior advisers on the trump campaign were concerned that the attacks on mail-in voting would depress the republican vote in that state, particularly from the elderly who might be afraid to vote in person. he quickly changed course in that state but in nevada the trump campaign and the rnc are waging a legal attack on that voting system. they're suing over a plan to send ballots to all registered voters. the imagine that. your government suing so that you have a right to vote but you

can't get a ballot. april's wisconsin primary verged on perhaps one of the biggest election mishaps in history as a late-night supreme court ruling the night of the election forced the state to continue without postponement in the height of a pandemic. it begs the question, what would the country look like this election without a vote by mail system during the pandemic? wisconsin continues to face this question as state courts litigate multiple lawsuits from democrats who claim thousands of voters could be disenfranchised before november. they're suing to extend the online voter registration deadline as well as the deadline for mail-in ballots to be received by election officials. joining me now is congresswoman gwen moore. good to see you again. i have to ask you, yesterday when the president was asked about this intelligence report from the office of the department of national intelligence, not only did he

dismiss russia as interfering, he added iran and china which experts say are not engaged in this at nearly the level russia is. then he said very specifically the greatest threat to our election right now is mail-in voting. so he is tripling down on this. >> well, thank you for having me again, ali. i'll tell you, the greatest threat to the heroes package is the fact we have moneys in that bill to protect our elections, to stand up the post office and the greatest threat to that package i think is the fact that democrats are not going to compromise on having monies to make sure that people can vote safel safely. >> you said the post office is important to our economy, our communities, it helps connect all of us, but it's facing major

challenges including new policies to slow the mail that may delay everything from medicines to ballots. we must fix this in the next covid package. a couple things at play here. the president talks about the post office as mismanaged. the post office has a pension liability in which it has to budget for in a way that's actually unfair. it's not really about mismanagement at all. but the president has put his crony in charge of the place in order to deal with the lack of funding. the post office asked for emergency funding during coronavirus. they got a portion of what they asked for. and in order to deal with it, the new boss, the chum of trump, who is running the post office, has cut back on overtime. meanwhile they lost postal workers to the illness. so mail is being delayed in this country largely due to political reasons. >> absolutely. we -- so it really does undermine efforts of states to offer safe voting by mail.

the president has been very transparent in his objection to mail-in voting. it's straight out of the republican playbook. they have relied on disenfranchising, suppressing the vote. and this is just yet -- this is a brilliant move on their part. i think if they could hold this heroes package up long enough or get nancy and chuck to relieve them of the election funding, they would move the heroes package through faster. we have $25 billion in that package just for the post office. this is desperately needed. the post office is more popular -- it's in the constitution, ali. and it's a public service. >> yes. >> yeah. >> let me ask you about this. we're talking about the degree to which african-americans, hispanics are disproportionately

affected about i this recession and the fact that women are disproportionately affected by this recession. anybody who interacts with the postal service knows a couple of facts, it's 39% minority, 40% women. this is a job and an agency that has been a ladder into the middle class for a lot of african-american people, for a lot of women. women in the post office hold jobs equivalent to men unlike a lot of places in corporate america this is not just an attack on my mail and my able to do it, but a continued attack on minorities and women. >> it's an attack on the black middle class. you don't know how many people i know generations past who worked at the post office and had a good middle class life with benefits and health insurance. it has certainly stood up the

ability of african-americans to join the middle class. it is actually an attack on the black middle class. i sure missed being in your conversation with stephanie. i just -- i would love to talk about the high price of being poor with you and stephanie some day. that would be a great conversation. >> we will make that happen, congresswoman. we will make that happen. you and stephanie are two of my favorite people to talk to. i will make that pledge to you right now. you, stephanie and me will talk about the high price of being poor. we're so indebted to the fact that you always make yourself available at this early hour for us. congresswoman gwen moore of wisconsin, thank you for being with us. >> thank you. we're just talking about the question that everybody is asking these days, who is it going to be? joe biden said he narrowed his search to a handful of women. the race is still believed to be quite fluid.

>> they think it's been drawn out, they not watched any other vice presidential picks in history. this is, in fact, ahead of time, as a matter of fact. most vice presidential nominees are not announced until a day, two, or three before the convention. i've gone through it. it's been orderly. every one of the women we've interviewed is qualified. i have narrowed it down. >> overnight nbc news learned that michigan governor gretchen whitmer who has flown under the radar somewhat in recent weeks traveled to delaware last weekend and met with biden paveme privately for several hours. biden has considered many women so far, but in recent days speculation has centered around senators kamala harris, elizabeth warren, karen bass, and val demings, and former national security adviser susan rice. take this in for a moment. never in american history has a

vice presidential short list looked are looking at on your screen. extremely diverse and 100% women. joining me now from wilmington, delaware is mike memoli who has been covering the biden campaign, i think, since the '70s or something like that. mike what do you know about where we are in this process? maybe not the '70s, but a while. where do you know about where we are in this process and talk to me about this governor whitmer thing. she was not spoken of as a front-runner, but turns out she had a long conversation in delaware with the president. >> we're at the point, this veep stakes reporting is more closely resembling detective work and surveillance at this point. the reason we learned about this meeting last week between gretchen whitmer and joe biden was because a state government reporter in michigan was

tracking flights in and out of lansing, and looking for one that may have ended up in the state of delaware. we did confirm that wit mhitmer traveled to rehoboth beach where the vice president has a beach house. they had an hours long meeting there. what is interesting about goff more whitmer, she had flown largely under the radar. nbc news was the first to report on thursday that she may have been under serious consideration despite the fact she had not been talked about as much in large part because while a lot of the veep speculation has to do with a game of telephone between those talking to the committee and some of the others close to biden, whitmer had always remained in the top tier with the only person here with the vote. that is joe biden. the campaign and biden himself has been very impressed with how she handled the pandemic. he campaigned for her in 2018, developed a rapport with her, was efusi efusive in terms of h

governing style. so this is an indication that a lot of the names we've been talking about for weeks may not necessarily be in that final group. biden has returned again to rehoboth for the weekend and we're checking the flights in and out. some of those other contenders, especially those based in washington have been told to stay close. biden wanted to do those interviews in person if at all possible and perhaps more of them happening this weekend. >> mike, how long has it been that you have been covering the biden campaign? you have been following joe biden in a few campaigns. >> it's 12 years ago this month that i was assigned to camp out in joe biden's driveway because we thought he was the front-runner to be barack obama's running mate. i ended up assigned to biden on the plane when he was chosen for the ticket. i've been covering him ever since. it's a little bit of a ptsd, good memories, a bit of both at

this upon the as we're in this veep mode. >> 12 years, obviously before nbc had child labor laws. mike memoli g to s, good to see in the next hour, we'll look closer at senator kamala harris, a mainstay in the conversation about biden's vp short list. the u.s. is in the worst recession since the great depression. 30 million to 40 million americans are at risk of losing their homes, yet the stock market is nearing record highs. it seems backwards, but that is the american way. i'll explain next. explain next. than rheumatoid arthritis. when considering another treatment, ask about xeljanz a pill for adults with moderate to severe rheumatoid arthritis when methotrexate has not helped enough. xeljanz can reduce pain, swelling, and further joint damage, even without methotrexate. xeljanz can lower your ability to fight infections. before and during treatment,

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for granted got tougher to do. thought surgery was my only option. turns out i was wrong. so when a hand specialist told me about nonsurgical treatments, it was a total game changer. like you, my hands have a lot more to do. learn more at factsonhand.com today. despite the fact that we are in the midst of the worst recession since the great depression, had you invested $100 in the s&p 500 at the beginning of this year, you would actually have made some money. in fact, the s&p 500 is now within striking distance of its

all-time high. nearly 30 years ago when i started in this business, i would have said this was good news. back then markets served a as better barometer for the larger economy than they do today. according to gallup 45% of americans surveyed in 2020 say they don't ownyou look at how o of stock is distributed you will find that more than 80% of all stock held by individuals are held by the country's wealthiest 10%. but that's just the math. the bigger problem is the way policies in this country are rigged in favor of the woeealth. america like the world is confronting the greatest economic calamity since the great depression. middle to low income americans are feeling the walls closing in yet somehow the rich have found a way to keep getting richer. let me lay it out for you. stocks are high for two reasons and both have to do with the federal reserve. at the beginning of this crisis

the fed made it easier and cheaper to borrow money for businesses to stay afloat while demand evaporated. in doing so and by slashing interest rates they made saving unattractive and investing in stocks became the only game in town. the collapse of interest rates made buying real estate for those who have money and a down payment and good credit the best deal that it's been in over a decade. money begets money. it's the american way. it's the way it was during the depression and the dwrgreat recession and every recession in between. when the going gets rough, the rich get richer. right now the u.s. unemployment rate stands at a staggering 10.2%. we just had our 20th straight week of at least 1 million new americans filing for unemployment. a brand-new study by the aspen institute projects that 30 million to 40 million people in america are at risk of eviction in the next several months.

roughly 568,000 mamericans sleeping on the street every night according to hud numbers in 2019. the u.s. department of agriculture says that as of two years ago way before the pandemic 11.1% of american households were considered food insecure. to top all of it off at this very moment talks between the white house and congressional democrats about coronavirus relief are at a standstill. trump is toying with the idea of signing an executive order to go over their heads all the while he's trying to gut the affordable care act as the country surges past 161,000 coronavirus deaths. but hey, look on the bright side, we do have near record high stock markets. for the majority of americans the economic prospects are in shambles. stock market records do not pay the rent or put food on the table.

this is the capitalism we know and that so many hate. despite the names that some people call me on twitter, i am a capitalist. i do not believe it needs to be this way. americans have been made to fear policies that redistribute wealth, but no system has redistributed wealth from the poor to the rich as effectively as our own, because the poor work for low wages and the rich profit from those low wages. it's how slavery worked, but since we don't have slavery we work really hard to pay people as little as we can to do their work. and if the poor can't work for wages that are low enough to make cheap stuff, they simply lose their jobs, that work goes to countries where there are yet poorer people who work for even less. and then those working americans lose their jobs. and then they lose their health care, and then they lose their homes. the rich buy those homes at discount prices using money borrowed from banks at near zero interest rates. this is the american way.

but it does not have to be. here now with the good, the bad, and the ugly on the economy is caleb silver, editor-in-chief at investopedia. give us the picture. >> good to be with you, ali. viewers should not be surprised that the stock market and the economy are completely divorced. in 7 out of the last 12 recessions the s&p 500 gain ground. the stock market is not speaking to the economy. there was a bit of good news, we did have about 1.8 million jobs added last month. the unemployment rate ticked down. we always want to see that. also mortgage rates are almost near all-time lows. so home sellers, people selling their home are finding an easy time. supply is tight. you can refinance if you have money and a home. that's not the case for everybody. let's look inside the labor department report, it's not as good as it seems. the recovery has been uneven. adult men, unemployment rate is

9.4%. for white women, 10.5%. asian workers, 12%. and hispanic workers, 12.9%. for black workers, the unemployment rate has not moved at all. that's what we saw in the last crisis. it took ten years for the unemployment rate -- the last financial crisis to break double digits for black workers, we're seeing that again this time around and an uneven recovery. let's look at some other factors. evictions, as you mentioned earlier, are about to begin for millions of homeowners. that will put a lot of pressure on families especially those low income families that don't have a place to turn to. banks willingness to lend is tightening as much as we saw in the last financial crisis. it's harder for people to get a loan. standards are higher. even if you wanted to get a loan, it's harder for those who don't have the means. then we're seeing small businesses, about 100,000 or more already closed since the beginning of this crisis. we're a little over five months in. the recovery has been anything but even.

we're seeing the from pressure businesses. female black workers, their unemployment rate is harder and many of them are supporting single family households. they're the sole breadwinners their homes, pressure on those families, an uneven recovery at best. >> an uneven recovery at best hitting women and minorities the hardest. ask a le caleb good to see you as always. meanwhile, trump's advisers have made their way on to tv yesterday to tout the better than expected job numbers as they maintain the economic recovery is going smoothly. but who is actually experiencing this smooth recovery? as caleb says, certainly not women who seem to be bearing the brunt of this recession. according to caleb who was just with me, black and latin "x" women are unemployed at three times the wait of white men, most of them are sole providers and/or single parents. figures like these have led some

to dub this period as the she session, if you will. with me now is sheila. thanks for joining me on this one. recessions have a flavor to them, right in the last one was about real estate, property values, and credit. so it hit the real estate and construction industry, overwhelmingly men. it hit the financial industry and wall street overwhelmingly men. this one is affecting women and minorities in a much higher level than is everybody else. >> this crisis is a much more widespread, as you just pointed out. the last one was focused on housing market, real estate, wall street, banks. the current crisis is affecting almost every sector of the economy and there's an upsetting truth which is that when major crises like this come along, they dend tend to hurt the more vulnerable members of the community the hard pest and in this case, that has been the

black and hispanic worker and women. women last 11 million jobs in february and may, compared to men who lost around 9 million. women were already coping with a number of challenges in the labor market that made them vulnerable, for example, they make up a huge percentage of essential workers. they make up a disproportionate number of low-wage jobs, the kinds of jobs that ended up being very expendable in the early phases of the crisis. and, of course, we have this really stubborn, you know, gender wage gap. women were prior to the pandemic earning only about 79 cents to the dollar compared to men. and women of color it was 62 cents to the dollar. this made women as a group much less well prepared to cope with this enormous economic and financial crisis we're facing. >> pbs notes that white women haven't been such a small share of the population with a job

since the late 1970s. women of color who are more likely to be sole bread winners and low income workers are suffering acutely. the unemployment rate for latinas was 15.3% in june. for black women it was 14%. for white men, 9%. now, the complicating factor here is that women have added responsibilities, which we don't value typically at home. we do not have a national child care program in this city -- in this country. and we do not have health care. so if women are sole bred winners abread win easy and they lose their job, they lose benefits. you understand when you educate a girl you educate a family because of the central role women play in households. that is as much so if not more so in america. so a she session, as you call it, will be more damaging to the economy than a he session like

we had last time around. >> one of the things that's been really, frankly, infuriating to me listening and watching the debates in congress about the next, you know, rescue package and bailing out the economy is that all of this time and energy and, frankly, trillions of dollars are going towards bailing out airlines, bailing out large corporations, we had ppp. but no one has talked about child care and the fact that workers, working parents, but especially working women are stuck in this impossible vice where we are now facing a fall where millions of children will be at hope looking at computers trying to learn and no one is talking about that. even employers as they're sending out back to work plans or coming back into the office, work from home, everyone is act like this just does not exist. and one of the only people in washington who seems to get it is senator elizabeth warren. she has been trying to bring this up. she did say that child care is as important to the economy as

any other piece of vital infrastructure, like roads, like electricity. she had a proposal to deal with this when she was running for president, but we need more of this because, frankly, we are not going to see a v-shape recovery. we're not going to see any economic recovery when a significant proportion of the workforce is trapped at home trying to do two things at once that are, frankly, totally incompatible. >> and once we're past all of this and we're back down to low unemployment rates, what we find is that we actually are short of workers in america. japan found this had they didn't have women in their workforce, you can't get enough people. and when you can't make it affordable for parents to take care of their children or have their child's -- child care taken care of, you just leave a whole lot of women out of the workforce. sheila, good to talk to you as always. she'll ooh s a sheila is a staff reiter at the new yorker. coming up, ellen wieb traei

digs in the process. also are democratic senator on the failed talks on the next coronavirus relief bill. more "velshi" next. bill. more "velshi" next. really? can it one up breakfast in bed? yeah, for sure. thanks, boys. what about that? uhh, yep! it can? yeah, even that! i would very much like to see that. me too. introducing tide power pods. one up the toughest stains with 50% more cleaning power than liquid detergent. any further questions? uh uh! nope! one up the power of liquid with tide power pods. another bundle in the books. got to hand it to you, jamie. your knowledge of victorian architecture really paid off this time. nah, just got lucky. so did the thompsons. that faulty wiring could've cost them a lot more than the mudroom. thankfully they bundled their motorcycle with their home and auto. they're protected 24/7. mm. what do you say? one more game of backgammon? [ chuckles ] not on your life.

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good morning. it is saturday, august the 8th. i'm alley vei velshi. for the first time since may, we had over 2,000 deaths in a

single day. the president says it is what it is. his focus is always on himself and his re-election. now with 87 days go until election day, the top official is sounding the alarm once again about foreign election interference. the man who leads the office of director of national intelligence says that russia is once again actively trying to help donald trump by once again working to undermine his opponent. this time, it's joe biden. he also says that china and iran do not want trump re-elected, although their level of interference doesn't compare to russia's efforts. adam schiff was my guest last night on the last word and he addressed the situation. >> these three actors are not the same in terms of their intentions, in terms of their actions, in terms of their capabilities. but if you look carefully at the statement that the odni issued today, it says china has a preference but russia is