consider it solved. >>> jamie dimon is out with his heart procedure. hugh, what do you think jumps out most maybe concerned about the impact that coronavirus will have >> i think that was not surprising i think the one real hard news headline out of this report, pst a must read around mill of every year he cut the dividends you've ahead people like david and james gordon no, no, the united states. for jamie dimon, the head of the number one bank in united states has broached that topic, i think that's really interesting. it's down the line if we can talk about this. if it's not safe at jpmorgan, it's not safe at any bank. >> i'm not sure if to take this at face value or say this is an investor letter where i don't know if he's required to turn out outcomes, if this really dire scenario plays out then we'd have to go this route do you think other ceos will say any different. theuation is die ma'amic if it comes from jpmorgan, we know they are the blue chip, the standard bearer for the industry and jamie dimon has been the chief spokesperson if it's comi

jamie dimon warns of a bad recession.an versus guggenheim meinhard saying the s&p could fall by 14%. seven look at the rest of the market stories. it is about stimulus. a trillion dollars of stimulus coming to bear. rallies. a constructive call with the saudis, 9 million barrels according to my guest. cable more to do with dollar weakness than the severity of bad news about oris johnson. he is in intensive care. nejra: let's pick up on that. boris johnson in intensive care. coronavirusnister's infection worsened. he remains conscious. scientists predict the outbreak will peak in the next seven to 10 days. foreign secretary dominic raab is temporarily running the government. >> the government's business will continue. the prime minister is in safe hands. the focus of the government will continue to be making sure the prime minister's government, all the plans to make sure that we can defeat coronavirus will be taken forward. well investor optimism of the outbreak drove the benchmarks to a three week high, further stimulus

have a lot of social unrest until you get rid of the central bankers and their propensity to steal jamie dimon is i think if you still working you still have a problem. well may got to take a break and when we come back we won't be talking about jamie diamond thank you stay right there. micrographs friends aren't slights and dad sed you know whites are men for example there are there slights against when men or more are nonwhite so it's always the idea is that statements that directed toward a privileged group are interpreted differently than a statement directed toward an oppressed group and so that's kind of the whole framework and it's a it's a political framework that's used the result is of course focusing at least on certain kinds of minor slights and say more rather than the north and more than we need to call attention to them but it's not all slight so it's a very political in this constant. state of let me. ask i wouldn't will. take i could. not trouble getting. to show more than. you love who you know nothing. to do make you to see that you don't want to come. to work do have all of

a lot of social unrest and so you get rid of the central bankers and their propensity to steal jamie dimon is i think if you still working you still have a problem. well we got to take a break and when we come back we won't be talking about jamie diamond thank god stay right there. is a reflection of reality. in the world transformed. what will make you feel safe. isolation community. are you going the wrong way or are you being. in the world corrupted you need to descend. to join us in the debt. or remain in the shallows. ask. and it will. take i could conquer to record. this show more than. can you love lose even will not. tend to make good a c. because the ones who come. to what do our own words the kook on the scene do it in the out not as you hijacked on this machine. and then with the physical state. i knew of those 2 moons in the little known to the sinister learning known to phenomena so would you hire them tied to use in do do. that and. then when i meet you house on the net passing them. welcome back to the kaiser report imax keyser time now to go to the flat cost host of big coo

a lot of social unrest and so you get rid of the central bankers and their propensity to steal jamie dimon is i think if you still working you still have a problem. well we got to take a break and when we come back we won't be talking about jamie diamond thanks stay right there. do you believe in miracles would seem democrats to you after the joe biden surge on super tuesday for them the fear of the bernie sanders candidate see me now be contained however this is far from over taking on trump no we seek out. the it. was. the only. one. your driver. and our government and all the other major governments of the world know what's going to happen and when it's going to. but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth . is going to cause tidal waves or earthquakes volcanoes erupt and it's going to chill. so very for a while right. my great grandfather's quote. nobody would care about the law or prison so you'd have wallace the should have. a terrible life between now and the. welcome back to the kaiser report imax keyser time now

here's jamie dimon on the unpredictability of the months ahead. >> this is such a dramatic change of events there are no models that have dealt with gdp down 40%. unemployment growing this

compare it to europe where we have this phenomenal cushion that really did work and does work i know jamie dimontalking to wilf on the call, jsame my soundsoun jamie sounded confident. the amount of money they drew down, the 50 million on the existing credit lines. david, what should be the potential loss on those? >> that's the question they fulfilled the obligation there. i don't know what the loss will be neither do they. we are monitoring the call and we'll bring you anything of importance as we get it. they did add 6$6.8 billion to reserves for this period of time, in part for some of those revolvers pulled down that may not get fully paid back. you're not just talking about corporate indebtedness but also people who are losing their jobs and unable to pay back on their credit card as well. jamie did say it was necessary to reserve -- build this reserve because of a likelihood of a fairly severe recession. wells fargo only added 4 billion to its reserves. we will also monitor that call when it occurs later in the moment >> weren't you surprised how many accounts wells fargo added? when i we

. >> jpmorgan yesterday reported james jamie dimon had things to say about money lending out some big banks jpmorgan bank of america going to give prefrm treatment to customers have been customers years and years the person said therapy customer. dagen: for decades. maria: that is why community banks need to get money to community banks can be bigger players main street lives i was saying that person opening the studio 2 nail salon they are going to get money from

jamie dimon is saying a severe recession., as you can see, there are the banks overall watching jpmorgan, maria, a miss but this wasn't totally expected, march certainly impact on the quarter that nobody saw coming. maria, i will send it over to you. i will bring you more headlines as i get them in the news room. maria: well, the stock is up 1 and two third percent right now. jpmorgan shares are up 1.60. we are breaking down the numbers and that's where he's talking about being well capitalized providing 25 billion in credit extensions because we know aren't as important for the environment right now. cheryl: exactly. he also says -- the likelihood of a fairly severe recession made it necessary to build out our credit reserve 6.8 billion. this results in total credit cost of 8.3 billion for the quarter. so i think to your point about the stocks being higher in remarket, what he's saying here we saw this coming, we knew it was coming and we are building up the bank now for what is to come which is obviously the second quarter,

well remember jamie dimon did from the hospital say that this was good this collapse was good for j.p. morgan because they could buy at a cheaper rate than when jamie what it is is walking covert 19 ok these are worse than covert 19 he's infected more people with his financial virus than kovan bank created more deaths than covert 19 how he's not in jail today is a fairly are of justice in america so i want to turn to this story from i believe it's the n.b.c. a food crisis looms as coronavirus forces farms to stay idle and countries hoard supplies so the f a o which is the united nations food and agricultural organization said that disruptions can be expected in april and may to the food supply restrictions on movement some basic aversion be paid for by workers could impede farming so the f.a.o. food processors to handle the vast majority of agricultural products could also be prevented from processing the farm products we are already seeing however challenges in terms of the logistics involving the movement of food not being able to move food from point a to point b. and that pandemic

when we come back, jamie dimon shares his outlook for reopening the economy. >> and stock pickers as earning season rolls on and why shares of tesla are getting a big bump in the p-mkereart trade. more when cnbc returns after this >>> welcome back jamie dimon on his company's earnings call sharing the outlook for the eventual reopening of the american economy saying contrary to the president's hopes, it won't happen by may. >> caller: the turn on will be regional and companies following standards for best health practices. in some way, you need to get that done. in some ways, the adverse economy has other bad impacts in terms of mental health, domestic abuse. we think it is a good thing to do it won't be may. we are talking june, july, august something like that. >> joining me now on the cnbc news line, art hogan, national securities chief market strategist i want to get your take on what jam jamie dimon said there he isn't expecting people really to go back to work until summer, june, july, august . >> caller: that is a good question we've gotten to a point where we've adjusted our

jamie dimon is warming a bed recession is on the way.nual letter shareholders and rights that the coronavirus pandemic will trigger a major economic downturn plus, he says it will moree financial stress than the crisis of 2008. -- jpd jay p morgan morgan cannot be immune and they may cut their dividend. alix: thanks so much. for more on banks, we are joined by mike mayo at wells fargo. he expects banks should grow book value and generate more than 10% returns the second half of 2021. it's great to catch up with you. fourth time you downgraded this, a total 40% decrease in earnings versus pre-virus levels. will it get worse and 40%? >> this is really amazing. each time, we are think we are where we need to be and then we have to cut again. banks are about to live the stress test that may have been practicing for a decade and if successful, this could justify a re-rating higher but first, it's earnings hell. with thebank is immune negative impact of higher unemployment and lower interest rates now we have credit losses up to-three times. o

vonnie: jp morgan ceo jamie dimon speaking all that investor call on when the u.s.conomy will reopen. joining us with more on earnings is bloomberg's sonali basak. everyone has been obsessing about about the loan loss provisions. is that with the street is really taking account of today? sonali: these provisions are certainly significant. they are much more than what wall street was expecting. what's worse is they may get worse in the coming quarters. this morning, the market shrugged off some of these issues because other areas of the bank were really able to shine, like trading, but you don't know how long this is going to last and how it will continue to impact not only loan loss provisions, but the low interest rates might impact their ability to collect interest income on top of that. guy: we don't have much to go on at this point in time. how useful are these numbers? we had a month in which we've had an impact coming through of the virus. jamie dimon and the rest of the team don't have much visibility on what is going forward. how rough are the estimates of t

jamie dimon obviously talking about the recession. he seems to be a little more negative than some of the commentators you had on your program recently. think, conservatives of playing out within the provisions, helping to protect them if things go bad, and if things get better, perhaps there is some upside to come back into the income statement. jpx: some other results, morgan lead with over $500 inlion to small businesses march and credit extensions for companies in crisis. do we want this to be the case? do we want to see jp morgan lend a lot and set aside a lot for little reserves, or do we not want to see that? alison: i think that is a concern of investors. we did expect to see a big jump in commercial loans just based on what we were seeing in the industry data. that is a question, how much of this is good, healthy lending, and how much of it is distressed. when we look at the aggregate balance sheet for the industry, what we have seen is a huge jump in commercial and industrial, especially in the last months of march. it is si

but jamie dimon more or less talking down the economy a little bit.e has always been conservative and cautious. we see the royal caribbeans of the world on any given day, toppersage gainers. what kind of leadership? the buzzword on wall street is quality. what exactly does that mean with respect to leadership? >> i don't think carnival cruise, as much as it is up today, carnival cruise, norwegian, or any of the others that is not what will lead us out of the economy t will be key companies mainstay of the economy. we know who those are. we have to bring back our financial sector. we have to bring back our industrial sector. even within there, there are some safe havens in there. you can certainly focus on the defense sector. i doubt defense spending is going to slow down. nearly every corner of the planet is still a political hot spot yet these companies have some cash, modest debt levels and certainly business models that will succeed in the future. charles: david, jamie dimon i want to reference him one more time because in his call he talked about

the other day when jpmorgan reported, jamie dimon ceo, made an off-handed comment, a rational plan to get back to work is a good thing to do but it won't be may, we're talking about june, july, august, something like that. since that comment, the bank stocks have been relentless decline and i don't know if what the president said earlier will change that. whether or not you think it is a good idea to reopen next month, we need lots of testing, lots of masks, contact tracing before we can end the lockdown we need the gilead drug remdesivir to work and to work in a controlled study where it is up against a placebo. without a break like that, jamie dimon, doesn't see us getting there until mid to late summer i hope he's strong the bank stocks are soaring, an expectation he is wrong. gilead got a drug that can cut short a hospital stay. but if there is a prolonged lockdown, i think the banks are in trouble the reserves aren't that bountiful and a multimonth quarantine where americans don't have the money to pay their debts what are the big changes since the great recession is we're more s

morgan has been great, jamie dimon, goldman sachs, citigroup, wells fargo, u.s.corp, morgan stanley, james gorman, grand rapids state , all southern bancorp great institutions with lots to say and lots of good ideas. if you look at how paycheck has been working out, the numbers are incredible, and i hope congress will be able to supplement the amount of money going to our workers. i hope they are able to get that done quickly, because it has been an incredible success, and many are already spending that money in the money has been distributed at numbers nobody believed possible for a short period of time, only a week ago, but a lot of money has been district it already and it will keep our small businesses open. the construction labor workforce , international union of engineers, jim callahan, north america building trades union, john mcgarvey, a lot of friends of mine, labor international union of north america, terry o'sullivan, international brotherhood of teamsters, james hoffa, the national contractors ,ssociation, david long national association of homebuil

jamie dimon weighed in on the subject of until help earlier today. bad economy has very adverse consequences, way beyond the economy. in terms of mental health, domestic abuse, substance abuse, etc. having a rational plan to get back is a good thing to do. hopefully, it will be sooner rather than later. joining us now is laura murray, senior scientist from the department of health at johns hopkins school of public health. she is also a clinical psychologist by training. obviously, we know a lot of people must be living on a nice edge right now, financially, emotionally, psychologically. what are some of the steps that you have seen leaders of institutions, other organizations make, to make this easier. what can we learn from? for having me.u it is such a challenging time to lead, and it is also time to grow as leadership. that is what we have seen from a lot of leaders around the world. leadership is not a destination, it is a con didn't journey -- constant journey we all go through. what we have seen from a lot of leaders is the ability to think out

if jamie dimon comes in and buys stock that might be a signal to you, as well >> steve grasso, i know gold has been a focus of yours as well today. guy adami touched on that. how big, though, was the role of oil today? here's why i ask because everybody has been slamming oil for years saying it's tiny it doesn't mean anything to the market anymore and it's 4% all of a sudden everyone says oh, the move in oil is the reason stocks go up. come on, can you have it both ways >> think today it was about 90% of the reason yet market rallied. the s&p definitely tracked oil and it didn't do it yesterday and it was inversely correlated. there were a couple of things going on gdp forecast, even though they're worth nothing don't seem to be as bad as we thought they were going to be that's number one. number two, oil has been the main reason as of late cyclicals are rallying and you're looking at the banks and look at chemicals and then you go back to what we had this week and we had a lot of pension fund rebalance and we'll sit this one out. today there were $2 billion to buy on the close that l

jamie dimon announcing jp morgan chase is taking action to help customers, including waivers for late day grace period for mortgage and loan payments. he's out with his annual letter. he wrote in the letter about the company's dividend saying that if it is suspended, it would be out of extreme prudence. so he does mention the potential of suspending the dividend at jp morgan. u.k. prime minister boris johnson has been hospitalized due to the coronavirus. we are answering your financial questions later this morning, everything you need to know about your 401-k during this crisis. do send your questions in. and here is a look at naples, florida, where all public beaches are closed in the area, as well as the pier. it is a quiet shot. in georgia, beaches over the weekend opened by order of the governor with many people not practicing social distancing at all. "mornings with maria" is live right now. checking global markets this morning in europe it is green across the board, take a look. the fq100 up 117 points, cac in paris up 147 and dax index in germany up 406. italy is reporting its

being very conservative running through some of these things jamie dimon, the chairman and ceo makes comments talking about how his heart goes out to the communities and individuals, health care workers, first responders and everyone deeply affected listen to what he talks through in terms of what the firm is doing. they say -- let me just get back to where i was going on this in terms of supporting their customers for this, they say that they drew -- their customers drew over $50 billion on their existing credit lines from the bank. they also provided over $25 billion of new credit extensions in march for companies that were most impacted by the crisis and they say they help their clients execute record investment grade bond issues. that's been very important to any company that could has gone to the bond market and has made sure that it has had the liquidity it might need to get through this they talk about how much that was a record bond issuance for them in the quarter. for commercial banking they partnered with their clients on the liquidity needs and increased loans by $25 bill

we'll tell you what jamie dimon says that has all of wall street talking. small business loans from the government they begin to hit the banks. the ceo of junior's cheesecake who received more than $5 million will tell us what it means for his business >> yes, he will. looking forward to that. thanks let's look at the naz sdaq which is paving the way higher amazon and netflix is hitting new highs. there it is with the gains now approaching for netflix 5% let's get to bob for more on this big market rally. bob. >> it's hard to believe but we have retraced 50% of the losses in the s&p 500 from those numbers about towards the end of february towards the end of march 23rd that was the lows. we traced 50% of those lows. the biggest ones out there microsoft, apple, amazon, google, facebook this is more than 20% of the s&p, these five. apple shipped 2.5 million phones into china last month. that was much higher amazon is sitting at a historic high when these five stocks move like this, everything will move everybody is looking for good news today roku suspended th

you saw that the sushi chain which has a lot of money was able to get millions, now what, jamie dimond? charlie: i mean, the travesty of this is simply this. the fed has taken extraordinary measures so public companies can go and tap the corporate debt markets. there's money there. they pay very low interest rates. but companies like this, shake shack, before it gave back its money, basically went into the ppp to get even a better deal on borrowing and that ppp money as you know was intended for real small businesses, mom and pops, that didn't get the money that got pushed aside as hedge funds, brokerages, profitable businesses, even public companies, even companies with more than 500 employees in hospitality, in restaurant chains, they don't have to have -- they don't have to be small businesses. they get the money too. they get pushed to the front because they are the best customers and according to the way treasury enforced the rules, they would have to be essentially handled first. here's what we know right now. steve mnuchin, the treasury secretary, has been watching our coverage

in the last 24 hours, you have jamie dimon from jpmorgan who says he doesn't see the country opening up until june, july, august. that would be the administration in conjunction with city and state leaders and official clearance/guidance from the cdc. today david solomon, the ceo of goldman sachs -- jamie dimon was also not on the call -- said to invest, we need to get confidence back. you need to get the american people's confidence up. we're not going to snap back if people don't know what the truth is. right now he said businesses should hope for the best and be prepared for the worst. as much as the president is selling it, it's working in certain areas. you've seen what's happened in florida, where there hasn't been wide scale shutdown. governor desantis named the world wrestling federation as an essential business. so one ceo said to me he doesn't see major ceos signing on to any official advisory kpatity for the president mostly because the president can't speak for the entire country when it comes to the business community because they need to take care of their customers, th

we want to get to wilfred frost who has newed on jamie dimon >> hey, yes, indeed. so good news jamie dimon, the chairman and ceo of jpmorgan, is back at work albeit, working remotely like a large portion of the companies as opposed to temporarily handing over the reins to his presidents and coos. he had a message, saying my hope goes out to all of the individuals and families most affected by covid-19 there were some thanks in there for his workers who he said are working hard to protect their fellow citizens while working to support the financial system, and he expressed his pride in them now, specifically, on the bank and what it's doing at the moment, he said as one of the world's largest financial institutions, our actions are critical to keep the global economy going. from processing $6 trillion in corporate payments each day, worldwide keeping more than 3,900 of our branches open to meet individuals' financial needs. he said the countries and citizens of the global community will get through this unprecedented situation, but it does serve as a vivid reminder

about jamie talking dimon, up 5.7% today. part of it comes on the yield curve that we are seeing, 10 and 30 yields rising on the long end. always a bigger boost for the financials, but i think they are certainly seeing signs of stability here today within the financials there. can read moreou strategist notes on how they are viewing these dividends, if it is seen as a sign of income for retail investors, assignor stability, more stable than they were 10 or 12 years ago or so. yet at the same time do you cut the dividends and saved cash? that debate continues today. mike: seems like they will wait until after they threw a stress tests in june to make a decision. the fed, that is. mark crumpton is going to get us caught up on first word news. mark? mark: michael, thank you. [indiscernible] saudi arabia and russia are making progress over a deal for outputs. hurdles remain for the opec-plus coalition. in the meantime, the saudi's and the russia want the united states to join in, but president trump has shown little willingness t

the banks, jamie dimon in his conference call with analysts, basically said look, you know, we're lookinga reopening, it could be june with, july, august, you know? nobody knows. there's a lot of uncertainty there, but he did say we're preparing for what is likely to be a severe recession. >> yeah. and i think that that is what is sort of baked into the markets over the last month. we know that we're going to have recessionary positions for at least a quarter, probably two quarters. the banks are going to be on the front lines of that. so far it's been a mixed bag. you saw proctor and gamble with revenue increases in the quarter, earnings increases in the quarter, raising their dividend. johnson & johnson did the same thing a few days ago. so the banks are probably ground zero for the uncertainty. they have to kind of extend credit to an economy that right now has no demand for credit. so you expect banks to be more constricted in the immediate weeks and months following this contraction as things open up. that will definitely change for the banks down the line. maria: so where are the op

morgan chase jamie dimon goldman sachs citi group wells fargo u.s. bancorp morgan stanley james gorman. grand rapids state bank southern bancorp all great institutions with lots to say and lots of good ideas and if you look at how paycheck has been working out the numbers are incredible and i hope congress is going to be able to. supplement the amount of money going to our workers and i hope they're able to get that done very quickly because it's been an incredible success and many are already spending that money and the money has been distributed at numbers that nobody believed possible for the short period of time was only a week ago but a lot of money has been distributed already it's going to keep our small businesses open. the construction labor workforce international union of operating engineers jim callaghan north america building trades union shun mcgarvie it's a lot of friends of mine laborers international union of north america terrio sullivan international brotherhood of teamsters james hoffa national electorate all contractors associati

the banks, jamie dimon in his conference call with analysts, basically said look, you know, we're lookinga reopening, it could be june with, july, august, you know? nobody knows. there's a lot of uncertainty there, but he did say we're preparing for what is likely to be a severe recession. >> yeah. and i think that that is what is sort of baked into the markets over the last month. we know that we're going to have recessionary positions for at least a quarter, probably two quarters. the banks are going to be on the front lines of that. so far it's been a mixed bag. you saw proctor and gamble with revenue increases in the quarter, earnings increases in the quarter, raising their dividend. johnson & johnson did the same thing a few days ago. so the banks are probably ground zero for the uncertainty. they have to kind of extend credit to an economy that right now has no demand for credit. so you expect banks to be more constricted in the immediate weeks and months following this contraction as things open up. that will definitely change for the banks down the line. maria: so where are the op

jamie dimon who is cautious but see as severe recession coming. morgan stanley who thinks we might be through or thinks we might be through the worst of it. where are you on this? >> well, we put out a piece two weeks ago called nasty, brutish and short, which is our assessment what we can expect. if you look at the unemployment rate we think the worst is yet to come. in fact there was a poll conducted by "axios" and ipsos that was conducted from march 27th through the 30th t was intended to talk about how many people were working from home, et cetera, but it had a component that suggested in the polling that our unemployment rate is already north of 15%, if this poll is truly reflective of the workforce as it was intended to be. that suggests to us that the worst is still ahead of us. we are going to get an extreme test but we think with the amount of stimulus, both monetary, particularly fiscal, this downturn will be fairly short-lived but the worst is still in front. ashley: you know, when i look at a lot of the data we get, jeff everyone facto

here's jamie dimon on the unpredictability of the months ahead. >> this is such a dramatic change of events there are no models that have dealt with gdp down 40%. unemployment growing this rapidly. and that's one part. there are also no models that have dealt with a government which is doing a ppp program which might be 250 billion, might be 550 billion unemployment where you know, it looks like 30 or 40% of the people are going on unemployment, but higher income than before they went on unemployment what does that mean for credit cards or something like that or that the government is just going to make direct payments the people so this is all in the works right now. the company is in good shape we conserve our clients but it's happening as we speak. i think people are making too much of a mistake trying to model it when we get to the end of the second quarter, we'll know what happened in the second quarter >> on reopening of the economy, dimon said quote, hopefully it will be sooner rather than later, but it won't be may june, july, august, something like that. all banks trading lo

so jamie dimon is back. kind of a good time to have him back.bout a leader on wall street, a guy who understands the economy, the guy who basically steered the biggest bank in the u.s. through the financial crisis in 2008 to be back in the fold, this is a big thing and probably a good thing. a net positive for the markets. markets are trading up, neil, on higher oil prices, maybe relief from oil patch companies maybe some of them, prices go up based on the deal saudi arabia and the russians. maybe, that will stem the tide of potential bankruptcies in the oil patch. also not hurt banks so much. plus up on the stimulus package. i will be reporting this throughout the day, neil, to get some exact, some sort, some parameters on what they're going to do. it is fascinating after spending about two trillion, as you know that is a net number. they will actually spend a lot more, they're actually think about going back to do another stimulus and it tells you how deep after hole the economy is with the pandemic shutdown. when donald trump says, we're in f

university into that economy laden with this debt to pay off all that risk taken by the likes of jamie dimon lloyd blankfein every single hedge fund now and and and private equity guy on wall street yes it will be a permanent weight on the economy for. the subsequent generations who will have to live under the enormous cloud of having debt 2 to 300 percent of g.d.p. making it virtually impossible to compete we can only marginally survive as you said risk doesn't disappear. it's just been rolled over into the future you cannot create or destroy risk you can only move it around and if you can move it around successfully you become a billionaire i am going to take a break when i come back much more coming your way. when alone being in peace is a knowing thought it sunk in for them they don't know if. the symbol of peace we've got 2 weeks time will tell me. something. that's. very uncertain. welcome the baby had a fever of 38 so point 30 we're hoping that's. all. i don't trust medical authority at all ever and the reason for that is i had this horrible autoimmune disorder growing up and it turns

university into that economy laden with this debt to pay off all that risk taken by the likes of jamie dimon lloyd blankfein every single hedge fund now and and private equity guy on wall street yes it will be a permanent weight on the economy for. the subsequent generations who will have to live under the enormous cloud of having debt 2 to 300 percent of g.d.p. making it virtually impossible to compete we can only marginally survive as you said risk doesn't disappear. as suspend rolled over into the future you cannot create or destroy risk you can only move it around and if you can move it around successfully you become a billionaire i am going to take a break when i come back with more coming your way. this is a story of women women with troubled histories and complex court cases you know some of us did leave leave. out there. were not. the person that. the cheesiness of the day are considered the most dangerous of criminals she's in a still. all the off 23 hours of the day tell me that it's not enough and it. will do women on death row. is your media a reflection of reality. in a world tr

morgan's jamie dimon issue a note of warning saying that he expects the crown a virus to include a bad recession with elements of financial strain similar to that of the 2008 downturn j.p.n. dividend may also be suspended in order to preserve capital and that was a message that shocked the entire industry citibank likewise also warned that global corporate earnings could fall by 50 percent in 2020 and that stock prices have further room to drop to reflect the likely profit decline so while we are getting some relief today. in might still be too early china which has started to reopen the economy after nouns in victory against its battle with corona virus might be falling back into another cycle in his rush to restart the economy another cluster has emerged as china reported 39 new cases as of sunday from 30 a day earlier so it does appear that the disease is reestablishing itself yet again and that round 2 of the pandemic may just be getting started or oil prices however fell monday by 6 percent despite sources claiming that moscow and riyadh were quote very close to an oil deal to red

jamie dimon emphasized the need to remain well capitalized and highly liquid given the strong likelihood of a severe recession now much of the optimism stems from improving conditions as 10 states have reported that they're making coordinated efforts to reopen businesses shut down by the coronavirus now these include washington oregon and california led by california governor gavin newsome and new york new jersey connecticut delaware pennsylvania rhode island and massachusetts led by new york governor andrew cuomo now collectively these 10 states generate almost 40 percent of the total u.s. economic output so as these plans are still in early stages companies are still bracing for at least months of limited revenues many are scrambling to raise debt in order to ensure continued liquidity but the credit market has tightened but the spread between risky high yield debt and u.s. treasury widening sharply to about 9 percent now from 3.5 percent in january airlines especially have been hard hit with global airline losses climbing up to 314 $1000000000.00 representing. a 55 percent drop in 202

news coming up from jp morgan over the next couple of minutes, jamie dimon's letter is out and he is surgery. that theing basically earnings at the bank will be in 2020. indicating the institution will not request any regulatory relief and he expects the financial stress to be similar to the 2008 crises. he is saying that the virus will include the fallout from it will include a bad recession. a dividend cut is unlikely, only out of extreme prudence, but these comments obviously paint the picture of the world's largest financial institution bearing up under the strain but certainly it is clear that that financial strain is significant at this point. it is interesting that he draws parallels with the stress being similar to that seen in 2008. more analysis to follow. this is bloomberg. ♪ we have an exclusive about emergency lending facilities put in place and the emotional reactions to what happened friday. it is a sad day. we had job growth for well over a decade, and it is hard to see the numbers so negative. i think everyone expects a very serious downward tilt on the job site and

we have a peasant class like evan saudi arabia and a prince class like they have in saudi arabia jamie dimon is a prince and the central bankers on the bankers on wall street are the prints class in this neo feudal period and everyone else is part of the peasantry what you call the middle class are becoming peasants they're living out of their trailers they're getting dog food they can't scrape enough to get by they're like haitians trying to pick worms out of dirt and that's the way it's designed we also designed the situation in haiti of course right whether it's disenfranchisement of haiti or bombing in iraq or the war in afghanistan or the attack on south american countries on the quds that's all off broadway production of what became a broadway production here in america you know people cheered the bombing of iraq and then mainstream media and this n.b.c. rachel maddow c.n.n. yeah let's bomb iraq not realizing this is a off broadway production of what's coming to america within 2 or 3 years now we are experiencing the full frontal attack of our government attacking us now you're watchin

university into that economy laden with this debt to pay off all that risk taken by the likes of jamie dimon lloyd blankfein every single hedge fund now and and private equity guy on wall street yes it will be a permanent weight on the economy for. the subsequent generations who will have to live under the enormous cloud of having debt 2 to 300 percent of g.d.p. making it virtually impossible to compete we can only marginally survive as you said risk doesn't disappear. it's just been rolled over into the future you cannot create or destroy risk you can only move it around and if you can move it around successfully you become a billionaire i am going to take a break when i come back much more coming your way. city on. how. when you know they need this is a no fly zone considering they don't know it but i mean does. love the. missing mom of the sweet gone to me i'm a strong enough sharing don't you think some emotions are. very uncertain. business is hard. and the baby had a fever of 380.30 we're hoping that's. ok . with the coronavirus now officially declared a pen demick the world faces the