then stealing their resources that's what that means it's a lovely language they speak of or that citibank as did i i think it's scandinavian derived. let's continue often these wealth waves involve great complex city exploited best by the rich and educated of the time oh yes it's too complicated for the trog diet masses with your t. shirts that say things and your extra long straws with the spoon on the end to get at the split peas it's best if you just leave it all to the rich smart people we'll take care of everything you just you go back to scraping the ants out of your porridge bowl that you're sharing with an unclaimed baby sister asked if billionaires wealth is rising so rapidly in a period of economic collapse is a sign that the riches wealth is barely even connected to productive forces anymore and has more to do with how much wealth one can take from public coffers in a study covered in the proceedings of the national academy of sciences pinas for short researchers found that higher social class predicted increase in unethical behavior they showed that the rich are more likely to

controlled by the rich designed to the people at every turn that's what who was pretty a means to citibank. and overseas conquests invigorating wealth creation the rule of law and patenting inventions yes overseas conquests that invigorated wealth creation or what does that mean that translates to invading and taking over other nations and people and then stealing their resources that's what that means it's a lovely language they speak over there citibank as did i i think it's scandinavian derived let's continue often these wealth waves involve great complex to be exploited best by the rich and educated of the time oh yes it's too complicated for the tribal diet masses with your t. shirts that say things and your extra long straws with a spoon on the end to get at the slaughter piece it's best if you just leave it all to the rich smart people we'll take care of everything you just you go back to scraping the answer out of your porridge bowl that you're sharing with an unclaimed baby the fact that billionaires wealth is rising so rapidly in a period of economic collapse is a sign that the r

we are a mentor protege with citibank. working with them prior to the racial equity and minority inclusion act. what makes this so important, and why this program is so valuable for minority depository institutions like unity, they allow us to leverage their resources in order for us to have a broader impact in community. for instance, they just allocated up to $50 million to mdi so that we could actually do more lending in the community. by making those funds available, it allows me to free up my balance sheet so i can lend more. there are capital restraints on banks on how much we can lend. when we are able to leverage a relationship with city, it creates a vehicle and avenue to be able to do more business. moreeed is great, and the larger corporations participating in a program allow ando be able to last longer be able to create a level of support and capital to the communities that we need. without that kind of support, it makes it very challenging. we have to leverage and we have to have partnerships. caroline: hopefu

to the yield curve are such this is not the reason why you're guying citibank get long. >> dan >> yeahu.s. treasury has been very volatile over the last week and a half or so the tlt had a big dip but it's back i think above 160 i'm playing for the next rate move to be lower from here. >> guy >> so it zips by, doesn't it >> zip, zip, zip >> lyft on the back of this grubhub news back to you. >> all right thank you all for watching we'll see you back here tomorrow at 5:00 for more "fast >>> my mission is simple, to make you money i'm here to level the playing field for all investors. i promise to help you find the bull market somewhere. mad money starts now welcome to cram-merica you want to know what is driving this

you got businesses, many of which we know whether it's foot locker or citibank or cvs or duane reed who have been subject, target, 200 stores have been affected, and it makes you wonder at the moment what really will be a tipping point, if anything at all, for the markets and perhaps it might be nothing. maybe it is what phil says. we believe in the spirit of america and we are moving forward, not backward. >> well, liz, the last time i was on, we talked about a rotation into cyclicals coming out of a recession and as we have seen since then, the last couple of weeks, those groups have dramatically outperformed. i think this is a short-term situation with the looting and the protesting that will work itself out over time but what we are watching and people are watching is 95% of the s&p 500 stocks right now are above their 50-day moving average and most people are saying that's overbought except this has happened five times in the last 20 years after a 20% plus correction in the stock market, and 100% of the time, it was the beginning of a multi-year rally, not the end. so there is caus

citibank. a trader at >> we are very excited about it. launch represents is nasa has led spacex to the design development. it treats nasa as a customer. spacex has shown they can do that. they have been very risk-averse. they have delivered. tom: tying into what you said, we can do these things cheaply. they can reuse some of the components. >> spacex is a philosophy to design for costs. we have embraced that in our own company. . yvonne: we have heard elon musk talk about these things. martian colonies. how close are we to getting boots on the moon? president is saying 2024 is when he wants to see a u.s. astronaut on the moon again. is this still a long shot or a real possibility? >> i think the time is a long shot. but i don't think the technology is. i think nasa is getting a whole lot of u.s. companies involved in the missions. they are outsourcing a lot of the risk. they are putting billions of dollars into it. spacex has a good chance to send people to mars in the 20 30's. yvonne: you are a former city trader. you founded this next

the case was criticized as a show trial against russia's liberal saying why is the well because citibank of himself was really well known here in russia and internationally for pieces that criticized russia the regime here the political situation here the social conditions the orthodox church and so on so people artists especially said that if he is accused that means that anyone can be accused and one person today even told us that artistic freedom itself was on trial today in the show when in moscow thank you. well french president and mantle micron is due to host a video conference with his russian counterpart vladimir putin and the security situation in libya will be at the top of the agenda the north african nation is less than 2000 kalid kilometers away from the continental europe it's become a bloody battleground for a number of players vying for power in the oil rich country one of them is 5. leads the un installed government in tripoli on the other side is the military strongman khalifa haftar a rebel general who now controls 2 thirds of the country including libya's oil fields

bank, true truest, pnc and citibank they want internal communications about prioritize sags in underserved markets including that i means and funding amounts as well as funds retu returned the treasury secretary and sba were sent letters from the committee seeking information about applications received and loans issued the loans issued part is important because secretary mnuchin said last week that information was confidential we'll see if we get this information. back over the you. >> appreciate it very much lee, let me take a quick break we'll come back and talk more with lee cooperman the investment committee has questions. jim kramer has questions on twitter. we're back right after this. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey >>> welcome back it's a mixed picture as you see there on wall street sue joins us with the headlines outside of the stock market. >> hello here's what's happening this hour at an emotion filled news conference, family members of rashard brooks spoke of their gro grief over his killing on friday his cousin says reforms must

i like money center banks, the bank of america is a citibank, wells fargo, they are more attached toi think the consumer has been trying to get us out of this crisis and a lot of the restrictions were lifted, again until the consumer feel safe, they're going to have a tough time making money. i still think giving the selloff and a lot of these i would pick up the banks. charles: speaking of a consumer, we saw consumer income less than expected but spending was less than expected as well, but it was a record, i'm with you, the consumer technically coming back, where do we go from here with the market, how are you trading in this environment where i think there will be more cash, fiscal policy will have to come to the rescue to get consumers over the hump. >> to be quite frankly, as a traitor i'm in and out fairly quickly and i'm trying to pick my target, i think the market long-term is going to go up, there is so much now, the focus seems to be on cases cases cases instead of fortunately or unfortunately death, death, death, i think the picture is brightening, i think we need the herd

double again, the stock was up 20% again and i think it's going twa28 bucks spirit saved >> tim >> citibanknderperformed the rest of the group. karen? >> i want to take some risk off the table and things were opening up and you and i out of the money calls and i'll sell some of those. >> guy >> fire eye, mels. >> thanks for watching fast. se >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate, teach context. call me 1-800-743-cnbc tweet me @jimcramer. >>> apparently america wants to do what americans do best, shop, ca rouse, gamble, generally have a good time. when they're

second of all, citibank is no longer allowed, those are the bike sharing programs here, we've seen ause those. lyft and uber no longer allowed to be on the road. if you are an essential worker you are allowed to take one of the city's cabs. they blocked off traffic at 96th street on the highways to keep all vehicular traffic from entering manhattan. the question now is whether or not the national guard will be used. both new york governor cuomo and mayor bill de blasio are on the same page about this. >> i do believe the nypd while deployed it wouldn't need the national guard, do it your job, do what you've done in the past. you know you've stopped living in the past and how you stopped writing in the past? do that again. >> no, on the national guard. we will regret it if we bring outside armed forces. as clear as a bell, if someone wants to go check all the history of what happens when outside armed forces go into our communities. it >> we have seen stores up and down midtown manhattan, upper east side, the upper west everywhere burglarized by people in cars, coming in large groups,

citibank is happy to put black lives matter logos on their instagram page precisely so you won't askhat interest rates they are charging black people. if you really cared about the poor, you wouldn't crush them with debt they can't afford to. of course if you really cared about black lives, you wouldn't put abortion clinics in black neighborhoods but they do. these people are scam artists. they are playing you. keep that mind and the next time they told you you may hate your neighbor which is exactly what they are telling you. police station on fire and shop owners beaten in their own stores. the destruction of an entire city block. the media, the democratic party itself, this is all defenses. defensible, heroic in the modern man of the civil rights movement. a pop was actually a part of the civil rights movement, the original one and he joins us now to assess to what we are seeing on television. thank you so much for coming on tonight. i would just throw it to you. >> pleased to be here, tucker. >> tucker: thank you. what do you make of this? >> tucker, what you are saying is being

surprising that citibank and others are saying we could see the bank of england actually be forced to rates and move into negative. that is the big step somebody central banks are debating. there will be more talk of what kind of stimulus, not just physical, but monetary, might occur to fight off all these forces hitting the u.k. at once. shery: kathleen talking about stimulus. extending is already the highest gains since march and there could be more german stimulus coming. what do we know? >> angela merkel is very serious . on the second stimulus package, there are two sides but the ruling coalition is going back and forth over big differences in what they mean to do. already initiated one round of stimulus and guarantees and now they are trying to pull back from a contraction specked at the 6% this year. that would be the worst since the aftermath of world war ii. democrats christian and social democrats are looking at a number of proposals and the gaps between them are extending into tomorrow. now,ke it simple, right social are pushing for spending that could approach 100 billion

it's completely correct to say that there are a lot of hidden bad loans on the balance sheet of citibank'sbanks, banks that collapsed spectacularly in 2019. but what the short-sellers and china bears have to keep in mind ey that financial crisis', th do not start on the asset side of bank's balance sheet. banks collapsed because they have to many bad loans. banks collapsed because they run out of funding. and as we all know, banks china, one of the main characteristics of the economy is a huge saving rate, and a controls capital account which makes it hard to take the saving offshore. and what that means is the chinese banking system has a ve ry, very, very stable funding base. and as low as that funding base is there, it's difficult to see a trigger for a systemic crisis. rishaad: tom, just to interrupt you there, because this is what jim actually said. what is constant about china is the debt situation. it just keeps going up. and this has actually put a damper on chinese equity returns over the past 10 years. when we gotnt out, bearish on china, the fx i, the large-cap china etf, was ab