michael: michael. pleasure to meet you. lemonis: michael, nice to meet you.'s an interesting scent in here. michael: yes, it is a pretty heavy aroma. i don't smell it at all. lemonis: it's strong. michael: we're cheese guys. we smell nothing. lemonis: how you doing? i'm marcus. josh: josh. nice to meet you. lemonis: nice to meet you. julius: hi, marcus. julius. lemonis: julius, nice to meet you. julius: this is angela. angela: hi, marcus. lemonis: really nice to meet you. how long has the business been here? julius: in april, it will be 20 years. lemonis: in this location? julius: in this location, yeah. lemonis: but the company has existed for how long? michael: 1954. lemonis: and when did you guys buy it? michael: 16 years ago. we do kind of three businesses in one, so we have the retail shop. second one is online, and then the third one is a wholesale business where we sell to restaurants and hotels. we have 5,000 restaurants in manhattan that we can sell to. lemonis: how many do you service? michael: probably, like, 65, so 0.1%. lemonis: oh. a little smal

>> michael did. >> okay. whose camera?>> but danielle denied that all of this elaborate spying escalated into a murder plot. instead, she said, it was simply preparation for her impending divorce. >> and i told the attorney about it, and the attorney said, m whoa, you're good," because he said that's good evidence. >> she wanted to be able to just have leverage and be able to embarrass him. >> danielle told detectives another reason was plain old curiosity. >> i had to see for myself that it was a girl. it broke my heart. >> how did you -- >> i don't know why because i was cheating on my husband. >> and that's the big question, right? you were doing it for four years, and why -- why did it break your heart if -- >> i think i still loved my husband, i still had feeling for him. >> what's more, danielle said she and michael had stopped their spying weeks before the shooting. detectives also asked about those text messages which they found so troubling. danielle said they were all in fun. they first questioned danielle about

michael: well, look. the one thing i would say, and this is an interesting comment for high-yield etf's, the etf's have proved themselves to be actually very liquid. they function exactly as they should have done so far. i think this has been a big stress test for some of the large passive indices, and so far they have passed that test pretty well from a liquidity point of view. guy: do you think the lows are in for the s&p? michael: not quite yet. let me just qualify that. i think one of the puzzles in the equity market reaction is that chinese equity markets are now higher than they were from january 21. it seems now that markets are pricing in an almost bigger crisis in the u.s. then we have seen in china. i think it is just far too early to say whether that is going to be the case or not. certainly, there will be a far bigger hit to chinese gdp then u.s. gdp, but we don't know where u.s. cases are going. year, 93 basis points. what do you thing of that? michael: i think it is really hard to expect fix

michael, i want to begin with you.he silver lining at the end of a brutal week for many of you out there, i know. finally, do you start to see the policymaker panic, and should that be were the markets stop panicking? michael: i think that's a real good point. we knew fiscal policy was coming our way, we knew monetary policy was coming our way. the two working together in a cohesive fashion, i think, is reassuring to the markets. you are seeing some evidence of that today. i do worry, if you are looking for instant gratification here, it doesn't feel like the volatility is really going to be completely swept out of the market. i think that will take some time for the virus to, at least, show some evidence of containment globally. no doubt, these are really powerful tailwinds, both coordinated fiscal and monetary. it is an encouraging day, for sure. we will see going forward what happens. jonathan: better early than later, but better late than never. it looks like in the europe -- in the u.s., the president will speak a

michael crook of ubs staying with me, as well is michael mckee.berg. ♪ this is bloomberg. ♪ alix: time for a check on some of the biggest movers right now. bnp and occidental petroleum down. occidental got a price target cut at pepper sandler, as well as wells fargo, and cut capex. marathon also cutting capital spending by 21%. norwegian cruise lines lower by nearly 6%. airlines like american also getting hit this morning. industry still awaiting details on what type of help may actually come from the trump administration for the sector. we will talk more about what the government can do to help them later. comingup come with -- up, we talked to michael feroli of jp morgan. this is bloomberg. ♪ ♪ alix: this is "bloomberg daybreak." i am alix steel. the latest rate on cpi for february in just minutes. after its for the s&p biggest rally yesterday since 2018. now we are almost 3%. other asset classes -- a broadly weaker dollar story. yield still down between nine and 10 basis points as the curb flattens. crude rolling ever. now we are all 4%. it con

so with that lets welcome michael strain. [applause] >> thank you all so much for coming this a very generous introduction. mike: the title of the book contains the argument i am making wishes the american dream and is not dead. in the subtitle makes a secondary argument which is the populism so it is actually, an excellent, there's really no reason for any of you treated anything on the inside of it. "the american dream is not dead". what do we mean by the american dream. let's just start from the top. there many definitions and many different things to many different people the freedom, choose how to live your life, to have a good life in a meaningful work and family and strong community can promote retirement and own a home con ownership is a big part of the american dream in the popular imagination. i would argue that a key part of the dream is based on economic success no matter what kind of specific flavor of the american dream you're most interested in, and the mentor your particular definition is an think everybody's

jonathan: michael? michael: yes. jonathan: final question. u.s.man ten-year spread has been in and around 170, 180 basis points. do you think we can break 100 by year-end? yes or no? michael? michael: no. jonathan: subadra? subadra: no. jonathan: victoria? victoria: no for me as well. jonathan: guys, great to catch up with you. subadra rajappa, victoria fernandez, and mike schumacher, thank you. from new york, i will see you same time, same place next week. for our audience worldwide, this was "bloomberg real yield." this is bloomberg tv. ♪ scarlet: i am scarlet fu. this is "etf iq" where we focus on the risks and rewards of exchange-traded funds. nothing to look at here. stocks may be in selloff mode, but trading in etf's goes off without a hitch. silicon valley meets investing, drilling down into etf's called algos that time the market. and swanning around, the etf that aims to protect investors from unpredictable events, doing its job during the black swan sighting of the coronavirus. whether you embrace or reject

michael bloomberg has built up a national staff. michael bloomberg has built up a national network.e has always said that he would hand it over to the democratic nominee if that nominee is not him. he is now pledging that support to joe biden. let's go back fewer than 100 hours ago. joe biden had no wins, very little money and no path to the nomination. fast forward, he has ten wins as we speak right now. he may get 11 if maine goes his way. he was raising a boatload of money anyway. now he has michael bloomberg's support and he's looking at a map where he has a one-on-one race plus elizabeth warren who's also making decisions this morning against bernie sanders. the sanders campaign, ryan is right, they will run against biden and his billionaire friends. but look at the california results. we're still counting in california. sanders is likely to win california. but add up biden, add up bloomberg, you have a different race. you have a different race. this fundamentally changes the race and gives democrats what they think they need. before bernie sanders can get a head of steam, have

vonnie: michael mckee? michael: i would say, speaking for the majority of the analysts we have heard from today, a lot of people disappointed in the fed rate cuts. i did have a chart that showed the area -- emergency rate cuts. a sickly show that, they get no reaction. the markets -- basically they get no reaction. the markets don't go up. if you go up to 1987, the big crash, that one helped. michael mckee, thank you very much. let's get to chairman powell. chm. powell: federal open market committee announced a reduction in the target rate for the federal funds rate, bringing it to 1% to one point 25%. -- 1.25 percent. we took this to keep the economy strong in the new risk to economic o

agreed to only use michael's first name and not to show his face. >> michael had been renting a room in the house for about eight months. and mary had just moved in with her boyfriend two days before. so michael suddenly was her brand new roommate too. >> it was a four-bedroom house. a block from the beach. it was just a nice house. >> when you first met him, your roommate, do you recall what your impression was of him? >> yeah. um -- he was a very friendly guy. kind of like a teddy ear. you kind of want to hug him. >> she has no idea who he is or even what business he's in. she essentially knows nothing about this guy >> 28-year-old michael was a young businessman. he took advantage of the new laws in california that allowed the sale of medical marijuana. >> he's in the marijuana business, but he's not a shady drug dealer. he is a legitimate businessman. >> yes, a legitimate business man, but with one odd twist. now, medical marijuana was legal in the state of california, but illegal federally. that meant that people like michael couldn't do business with banks. that means no credi

michael cummins, what do you look at when you say -- michael collins, what do you look at when you say more that's needed? michael: the numbers, as you pointed out, are gigantic. they are bigger in terms of actual economic drawdowns, potentially. but to me, the big thing to look at is how many defaults we are going to see. all these bridge facilities and lending and finance programs are really designed to prevent individuals, small businesses, large businesses, and ultimately countries from defaulting on their debt. orsumably, within six months three months, we are on the tail end of this virus and the economy globally is starting to perk up. it seems like there's enough financing globally to at least keep default rates for at bay. do you feel like we have seen the plumbing issues 100% fixed? there's been a lot of talk about oir. plumbers are working hard. we have a basis dashboard that looks a lot of these type of relationships around the world. fixed, them are 100% like mortgage backed securities are 110% fixed. those spreads are tighter than a month or so ago. leasteasury market is

michael: thank you, beth. the fact that the virus is no individuals, whoever they are, is one of the reasons we do need to have strict social distancing measures so we can reduce the rate of infection and reduce the pressure on the nhs. there have been various testaments about the number of people who may become infected over a period of time. we aim to, as the prime mr. himself pointed out, flatten the curve, reduce the rate of reinfection so that nhs can be protected. i think many people will reflect on the fact the prime minister succumbing to the virus is a reminder of how serious we all need to take the advice the nhs has been giving us. simon? simon: on the question of london hospital beds, yaz -- as of yesterday, the most recent victors, we had 3000 empty and available hospital beds. as you say, we are bringing on additional beds next week at the new nightingale hospital. that is being configured initially to look after 500 patients. there the physical capacity to take that to up to 4000 if it were requ

former new york city mayor michael bloomberg. just awaiting to address the crowd and i have nbc business correspondent stephanie ruhle with us, as well, wheno's coverg the bloomberg campaign quite sometime. interesting day for michael bloomberg making this decision quickly after super tuesday but not surprisingly. >> he'll be the first to say it -- >> there he is now, starting now. >> you know, i decided we have the slogan wrong. it should be mike likes you. thank you! thank you, everyone. not sure what you say other than thank you to everybody here who's tried to make a difference. and mayor nutter, mike, you really have been amazing. where are you hiding again? right here. hiding in plain sight. these past few months have been some of the most inspiring, certainly, in my life an i hope in yours. in just 100 days i have been to 73 cities in 27 states all across the country. we have gone from portland, maine, all the way to compton, california. from detroit, michigan, down to jackson, mississippi. and every place i went i listene

michael mckee joins me now. what is the hold up? michael: it is europe, alix. the leaders have gotten together and kicked the can down the road. does that sound familiar? the coronavirus shutting down many economies there, and that's created problems particularly for those on the periphery. italy the poster child, at an eu summit conducted by teleconference, other countries pushing for the issues of corona bonds, joint debt issuance. european central bank president christine lagarde, in isolation herself, pushed also for the request, but germany says nein. worry issuing debt to countries that are lower rated would push borrowing costs higher. they prefer a pot of money for financial crises that comes with strings attached, so the italians and others don't want that. the solution is to put the issue back to your finance ministers and come back in two weeks with another plan. that is what is happening in europe that is bad news. the good news is this slight moving btp's. european bond yields in general following because of that yields in general following because

michael bishop. michael is a consultant in the office of the chairman of the national endowment of the humanities. prior to that, he served as rector of the national church hill library and center at george washington university in and also up -- served as the director of -- society. the museum has a long-standing relationship with the local branch of the church hill society and churchill society of new orleans. with him being half american, we feel he can keep covering winston as much as he wants. we enjoy having michael and his affiliates, do great works around the country. michael was in charge of putting their 34th and 35th churchill .onference together we're not quite caught up with that in international conferences but i know how much of a beast that is. seen "the darkest hour"? forcan thank michael providing deep insight to the cast, producers, the crew, historical consulting for that. i think you are solely responsible for the academy awards one. [laughter] michael is making his first trip to

instead, he sort of split it with michael bloomberg and michael bloomberg probably got even more of thoseacks than bernie sanders did. so elizabeth warren really played a very crucial role in the michael bloomberg narrative here and we're seeing that play out today. i guess the one other point, michael bloomberg and several of my colleagues have said got into this race because he saw joe biden as weak. look at how much the last 72 hours have changed for joe biden. so many of his former rivals are coalescing around him and he has an air of inevitability as the only person who can go up against bernie sanders. >> one thing that there was a lot of discussion around regarding pete buttigieg and amy klobuchar was that they timed their exits from the race in order to help joe biden in the best way they could which was to endorse him the night before super tuesday. right? what is your -- we're getting ahead of ourselves a bit, but if senator warren were to determine she did not have a path forward, what is your sense of when she might make that announcement? if she were to. >> these are the mome

michael bloomberg dropping out this morning. warren team said this was the three-way race they wanted to have, elizabeth warren against joe biden, again bernie sanders. they felt like they could pitch her as the candidate to bridge both of thos lanes, to bridge both of those candidates and now we'll see if she actually has a chance to do it or not. >> keeping a close eye on elizabeth warren's campaign, moving forward there in cambridge, massachusetts. keep us posted. we will check in with you throughout the afternoon. one thing is clear from last night, it shaping up to be a two-person race, joe biden, bernie sanders. both campaigns are plotting how to move forward with next week's races, joe biden now the delegate winner after the delegate-rich state of texas and bernie sanders added to his delegate haul but fell short in some key memoli joining us and shaquille brewster. how are they feeling and how are they forging ahead in the six states that vote six days from now? >> reporter: craig, the biden team always felt about about

but this is what we have, michael. and we, as healthcare workers, we need optimism now more than anything. and we will get through this. we will all, together, get through this. and we will get through it only one way. and that is together. regardless of how this happened, how this came acbout, we have t move forward. we have to salvage lives. we have to salvage families. we have to salvage emotions and we need to, hopefully, by july or august come away from this hole. and i think there is going to be a huge paradigm shift in the field of medicine, in healthcare, after this. unlike we have ever seen in a decade or two. but we need to come out and we need to be here for each other and we have to move forward, michael. >> well, i -- i -- speaking on behalf of the world -- thank you for what you do. you and everyone around you and -- and throughout the world for what you do. bravery, above and beyond. thank you so much, doctor, thank you. >> thank you, michael, for giving us a voice. thank you. >> unbelievable. all right.

michael bishop. michael is a consultant in the office of the chairman of the national endowment of the humanitys. prior to that, he served as director of the national churchill library and center at george washington university in d.c. he also served as the executive director of the international churchill society. some of you, many of you know the museum has had a long-standing relationship with the local branch of the churchill society, the churchill society of new orleans and with him being half american, we feel we can keep covering winston as much as we want. but we certainly enjoyed watching michael and his affiliates do great works around the country. michael is in charge of putting their 34th and 35th churchill conference together and we're not quite caught up to that with our international conferences, but being involved in the conference, i know how much of a beast that is. who here has seen the finest hour, i'm sorry, darkest hour, the finest hour is a book. the darkest hour. well, you can

what do you think, michael? >> well, 100 years ago in 1920 there was a deep, deep divide between protestants and white american of recent immigrant descent or sometimes not so recent in the case of irish-americans and the germans. and it gummed up redistricting because of the ballot between the rural whites -- battle between the rural whites and the urban so-called ethnickings. you had prohibition, that was a war between the catholics and the protestants. you know, you had the beginnings of multiculturalism, people saying why should the european immigrants speak english. okay, flash forward to the 1970s. the european diasporas had collapsed in most of the big cities in the north or were moving very quickly. by the 1970s, the average white american was partly of british and partly of non-british descent. so my question is we hear about the rising non-white majority, but that's counting every descendant of someone who is not a non-hispanic white lebanon-white for the next 200 years -- will be non-white for the nex

this is michael wilson.e is morgan stanley's chief equity strategist. 29,000 on the dow is too good to be true. fantastic. i will tell you where the banks are in focus. >> to be very clear, people are comparing this to 2008 but they are not saying this is like 2008 where there is a solvency issue. capital markets shutting down. much of the pain to come has been priced out? that is the main thing to consider here. let's take them in their hole. are health effects there. that will have a big impact on the economy. we also had a big punch on the oil price war. that kind of got overlooked a bit. caused some issues in the funding markets. that is with the fed addressed today with step one of what will probably be multiple steps over the next couple of weeks. our view is that the markets have been moving towards recession for the past two years. something we have been talking about for a while. never got this going. we felt that the fourth quarter was a liquidities piece. events in predict any the last week. now w

, michael, michael .e] ♪ ♪ sinatra ♪the new the mind is the jay-z empire of the mind ♪ >> ♪ in new york ♪ the streets will make you feel brand-new ♪ >> tell obama attitude ♪ tell by my attitude ♪ in new york ♪ make you feel brand-new ♪ >> ♪ inspire you ♪ ♪ >> former new york mayor working the crowd at the palm beach convention center. florida votes in its primary on march 17. they're watching super tuesday results here on c-span. taking our phone calls and waiting for two more life candidate events. angeles ins in los baldwin hills recreation center watching the results. here's an interesting tweet from one of his campaign workers. roscoe's in los with alabamaed out and north carolina. bernie sanders is on our from vermont.ht we will bring that to live when the senator goes to the podium. steve scully has been watching the results in other states. >> susan, early nevers and texas. an interesting race, -- early numbers in texas. it is all about delegates. 1191ant to accumulate the delegates. senator bernie

michael bloomberg says that he will continue to work on democrats' behalf.t af flak because many did not see him as a democrat. they still psalm as a republican and independent who had supported other republicans in he will help whoever the nominee is and at th moment, he will certainly help to prop up joe biden. >> michael bloomberg is celebrating that he is not standing but he still has lots of people waving flags. he delered a big stirring speech to his supporters saying that he is still committed to defeatindonald trump. w will have to see if he manages to suppochever candidate is when the time comes. 'let's turn to other matters, because in a moment, we wi have a new report on the border between greece and turkey as thousands of migrants continue to try to cross and reach european union. ♪ >> this is the age of expression. but shouldn't somebody be listening? >> so, let's talk. >> we are built forri h what is important to you, one to one. edwardim jones, it isto invest to feel individual. >>iz, cough if you a in what about the' ro's dry cough? >> it las

michael: we were talking during the break.any does get into dodd-frank, you could do some lending. what can the fed do now? dodd-frank, before the line was we could lend to whoever we wanted to in an i believe that got circumscribed during dodd-frank. i'm not sure that was wise, but there are provisions about being to set up facilities and get approval from treasury and do it that way, but it is a more cumbersome process than it was. any -- if thee airlines really struggle, for example, or retailers with supply chains, is there anything you can do to help? mr. bullard: that is congress' role, and if congress wants to weigh in and do something like that like they did for autos, they can do that. i don't have a sense of what might or might not be good in that. michael: the 10 year right now, 74 basis points. this is not necessarily good for monetary policymaking going out, when not just your rate is near the zero lower bound, but all rates. overullard: we talk a lot the last decade or more about what to do if we got back to the

michael: looking at the u.s.ective, you get at least a little bit of a view in terms of supply chain disruptions. look at market responses to ism, probably number three or four in terms of data points. probably should get more weight than people give to it. jonathan: that was the inflection point last friday when we got the services emi that came in soft and i think that shook the confidence some people have that the u.s. would be resilient to a lot of what is happening in the global economy. what are you looking for in the ism next week and payroll next friday? victoria: we think we will continue to get decent numbers coming in. ism potentially trough to in september. we are looking for those numbers to move a little bit higher. i think we are going to have some feedthrough from coronavirus and the manufacturing and supply chain issues in china, so i would not be surprised to see manufacturing numbers come down a little bit. but we don't want to see the services number continue to fall. jonathan: let's rattle th

he's got a new podcast rumble. >> rumble with michael moore. >> rumble with michael moore.rush fan. >> rush the band. >> rush the band. >> not rush the radio host. >> you and i have had a long relationship. any time i talk to anybody who's a supporter of any candidate. the world blows up and accuses us of being in the tank for somebody. you and i have had conversations. i think people would say we're friends and we aren't in the tank for political views always. >> that's correct. i have no bone to pick with you. >> no, you have no bone to pick with me. >> let me hang out tomorrow or the day after that. >> the reason i ask you about this. we have no bone to pick with each other but there are supporters of now bernie sanders and joe biden and some of the other candidates who do have bones to pick with each other and it worries me that it's getting so deeply vitriolic that one of them is going to one and the other one's supporters may sit out. >> i think first of all we have yet to have the great debate between bernie sanders and joe biden. i'm sorry that michigan becomes the

michael: good point. the dispersion in consensus forecast thousand no one has any idea -- tells us no one has any idea. we had james buller tell us that gdb could fall 50% in the coming quarter, which is certainly -- you cannot rule it out. i try to look at historical parallels and tried to use a proper framework for thinking about the macroeconomy. unfortunately, with this pandemic, globally, the closest parallel we have is 1918, 1919. we had world war i going on around that time. there is really no perfect parallel. we had a nine-month inflationary recession in 1918, 1919, what you would expect with a simple adverse supply shock, which is what a pandemic should be, at its core. unfortunately in a modern financial system, we are given in enormous demand shock from a huge spike in demand for liquidity. then we have to try to model that. do is relate their previous fallen in risk-free rates to the velocity of money and try to back into a nominal gdp forecast from there. it looks ugly. down 6% to 20% year-o

michael: i step back. dan.ree with i don't know if we're talking three, six months, that sounds scenario, do case i think this necessarily means we go into a protracted global recession, unclear. i don't think anybody at this point knows. on the like to bet companies who have actually navigated through this in terms f looking through coverage, i thought through this and really google and amazon are the only wo in my opinion that are battle tested in terms of having seen what bad looks like back in 2008-09. in reality, all of the online has had massive tail ends at their backs for years. to be a t's going volatile period and talking to some investors, i don't think say there is a 15, 20% cut. i think some of these companies iterally spend to go to zero from a good chunk of their clients. so it could be pretty ugly. i want to thank both of michael, , dan and can't thank you enough. bill gates will be stepping down from the company's board and philanthropy. more next. this is bloomberg. taylor: i'm taylor rig

michael bloomberg out of the way, at least as the two front runners. michael bloomberg even further back naps what we're going to see here in the next few days is bernie sanders, the senator from vermont, drawing that contrast and joe biden having to respond to the critiques from the senator from vermont. >> david, we have talked the last couple days leading up to super tuesday about some of the major democrats coming in behind the former vice president, coalescing and bolstering the endorsement from jim clyburn. also taking a look at exit polls from last night, especially in north carolina, the overwhelming amount of support for the former vice president has come from african-american voters, especially in the south, is ses stounding. >> they was very confident in even as his campaign was not doing well in the weeks leading up to super tuesday. he was convinced he was going to get the support of black voters, and we did see that. when you look at how it shook out by percentages, he got 6 out of 10 black votes here in north carolina. so that confidence

michael: it is complicated.have certain responsibilities and the public turns to the national government for information and to feel confident about how things are being handled. the state governments are responsible for a lot of the health measures that will affect people's lives. david: it is sometimes our strength and our weakness as well. to which thesense united states government between the cdc and federal agencies is able to influence or direct state and local agencies? do we have protocols across the country? michael: and they can help with money, which is what happened today. the president signed the bill that will buy more money to state and local governments. the federal government can set certain requirements and regulations as circumstances might require. s andof the travel ban restrictions come out of the federal government but states are also setting social distancing rules and things along those lines. david: i would think it would be a courageous state official who disagreed with the federal gov

amy: michael eric dyson, your response?i would dismiss the legitimacy of africacan-american voters. i i would not unundercut the aby of african-american voters to make distinct ruinsns -- distinctions between candidates. this is a re-articulation of logic i i think i is perninicio. the doubt and skepticism about black intelligence and the ability of black prudence to be able to adjudicate them -- complains about what is good and bad for black america. undercuts the ability to believe that black voters know what thehell they're doing. when black people were salted, oh, my god, a candidate who has no understanding of what the existential dilemmas have been a black people, nonene of the political hurts and hardrdships they have endured. so to o reduce black peoplple support for joe biden to his proximity toto barack obama is - professor taylylor has laid out the fact she thought for the argument was that obama was signaling to white resentment and the cast of white people -- amy: we have 10 seconds. >> you c can't have it both

don't believe that michael bloomberg has left the 2020 u.s. presidential race off the dance floor performance in the state but she has a voting block in that office or play. in the united states presidential candidates debate the future of the u.s. and the world. max kaiser and stacy herbert dig into the burning questions of this election cycle one celtic every week. tax student debt trade wars corporate money universal basic income and more catch up with what's front running this sunday exclusively on r.t. . we're feeding our hopes our dreams our desires our money to compete this creates what do we get back to nowhere like that's that's a bad deal so when this technology jumping out of this one is the goal is you helping to keep you healthy for her to keep the you know you connected and i missed it so we will live in an area the post sweet area where we will live with less at all these screens and it will be more in harmony who will help us. welcome back let's get back now to our top story this hour michael bloomberg has announced he's ending

read michael is the director of economic studies. ai is a widely published scholar labor economic public finance and many other areas in his new book is an exceptionally clear and broad overview of the state of an american economic life. the actual conditions we face, the trends, over recent decades and others relate to some of the dark stories that we hear in our politics about the conditions that americans are experiencing also where profits are. any sort of saved things that are much better than the mode of our politics and the critics of the market economy would sometimes suggest that we do face risks in the navy that mood and those critics, are the among the most important of those risks. it is a controversial piece an essay as a conservative i am resistant to be turned up until everything is fine. but it is very powerfully argue of pieces and as you'll see in here tonight, very thoroughly supported thesis in the book. joining us to respond to my arguments, is richard recent one of the smartest social analyst and policy thinkers

and as you said, michael, get on top of the distribution. have 50 buyers bidding against one another for scarce supplies. that's not going to get them where they need to be. >> the president said the other day that the federal government isn't a shipping clerk. perhaps it needs to be. we talk about the impact of shortages on infected people. that's pretty obvious to everyone now. i think what perhaps gets a little less attention is the impact on other sick people, people with heart attacks, strokes, and so on. how worried are you about that and that there might be hard decisions on who gets treated and who does not? >> well, it's important to remember the hospital didn't close. there are still accidents, heart attack, people getting cancer treatments and so on. i'm very worried the pandemic sort of sweeps through some of our big hospitals. the medical personnel are stretched thin not just to go into the room of the person who's got the virus but because they're sick there's fewer people in the er to handle the heart attack. i am worried at l

>> reporter: it's a very grim milestone, michael.and the uk government's position is at best precarious. of course that is as you said as the prime minister has tested positive for the coronavirus. other members of the government testing positive and in isolation. many describing this as we are around the world as a war, as a battle against this pandemic and health care workers are the front line fighters. let's take a look at what one couple are doing to help. amid a paralyzing pandemic, this husband and wife have found a purpose. feed as many nhs staff as they can. their days have become a flurry of activity, loading up meals from home. >> you got something for us, sir? >> reporter: then driving by local restaurants like this italian cafe eager to donate hot meals or selling bulk to make a profit at a time when business is at a stand still. >> thank you so much. >> reporter: rushing from place to place, the couple tells us it started just over a week ago when a friend and nurse asked the couple to drop off some snacks. >> started o

michael: it is a grim kind of picture.secretary steven mnuchin said he didn't think we were going into recession either. wall street's collective reaction to that was, are you kidding me? look at the probability for recession now, and i did you percent -- recession now, 92%. it is almost the baked in assumption now on wall street. the question is how long and how severe it is. one person said to me, it is really going to depend how many companies go out of business during the time they are shut down. we don't have any data on that, and that is the hard part now. normally in a recession, you can say there were signs. the only sign we have had so far, the entire manufacturing index, and he reported on this yesterday, i giant slump. the biggest one-month drop ever for the empire index. it is sort of a preview of where we are going with this. so what do we do now? we watch the other data that will take a little while to come in. the national journal of economics is the one that declares whether or not we had a recession. it is

michael bloomberg had words. had a speech there, but some people stood up and turned their back to him. >> right. well, the black church continues to be the lynch pin for democracy for african-american people. it continues to be a bellweather is a benchmark for the progress black people make. let's be honest, we've had wonderful figures like governor should-be gillum and stacy abrams and barack obama, but they would not exist without the sterling rhetoric, the golden throats and the silver tongues of, you know, remarkable preachers, deacons, trustees and other figures within the church who stood up to articulate their a deals, the no ideals, the nomrms they had bee shaped in as children, lover of all people, that god has respect for all persons. that chapel is extremely important as a meeting house and a clearing way for african-american people and their allies to think, to degenerate blueprints of social democracy, of figuring a way past the brutal existence of police brutality. >> we're looking in the vehicle a

michael gove in a few minutes.ses. the regular markets at lockmeadow in the town on tuesdays and saturdays will remain open to help supply local residents with fresh produce. pitches will be spaced two metres apart to comply with social distancing guidance with markers placed on the floor to ensure people queue safely. parents and carers are being urged to tell their children at home to stay away from railway tracks as schools across the country have closed due to coronavirus. railways in the southern region of network rail are powered by a live electrified 750 vault rail which can seriously injure or kill anyone trespassing on the line.since schools closed on friday, there have been 16 trespassing incidents in the region as vandalism including a bicycle being thrown on the track and hit by a train on sunday. play areas across the country have been closed to protect people from coronavirus. the closures came into place this morning and posters will be placed outside playgrounds. the metropolitan police have release

i michael smerconish. while we're witnessing a test of american ingenuity, in many ways, the state of new york has been hit hard with 45,000 confirmed cases of coronavirus and at least 500 deaths. in response, 62,000 medical professionals have volunteered their services according to new york governor andrew cuomo. that number includes practitioners who are coming out of retirement to put themselves in harm's way. ppe is now an acronym that is part of our lexicon. personal protective equipment. and as health care workers struggle to protect themselves, there's some good news. a company called fanatics normally with baseball jerseys this time of year, they halted their production and instead are making gowns for health care workers in eastern pennsylvania. the executive chairman michael rubin explained, quote, the covid-19 crisis has compelled our country to be more collaborative and innovative and strategic than ever before. as the demand for masks and gowns have surged, we're fortunate to have teamed up wi

and michael bloomberg was campaigning in florida today. he'll be in west palm beach for an event. >>> former vp, joe biden, was in the bade area this morning he want spoke with supporters at the buttercup diner in oakland. yesterday he received endorsements from former rivals, amy cloeb klobuchar. >>> still plenty of time to cast your ballot. rod, is it turnout being afshted by coronavirus? >> reporter: well, it is slightly not so much for the vote bug in terms of being able to staff the polling places. we're in front of the county election offices. they set up a drive-thru lane. where people can get out of their cars and drop off their ballots. all is going smooth so far. the polls close in less than three hours. a steady stream of voters have been coming to make their voices heard at the ballot box. 80% in contracasta county are vote big mail. >> i like the experience of going into the voting booth. on the day of. it's just exciting. >> reporter: it's too soon to know if any prospective voters stayed away out of fear of contracting the c

michael bloomberg less than 16% of the vote.tate that michael bloomberg visited more than any other, has been here four times, that showing not as much as he wanted in tennessee. this is what he had to say about the race at the national level. >> my fellow candidates focused on the first four states. i was out campaigning against donald trump in the states where the election will be decided like wisconsin, michigan, pittsburgh, ohio, north carolina and florida. >> reporter: in tennessee but it didn't turn out that way for michael bloomberg. he won american samoa which i don't know that is a surprise to anybody but we are here in brentwood, tennessee just outside of nashville. we will open up soon and talk to voters and find out what they feel about this race in tennessee. shannon: they will be dealing with a lot of damage, 24 deaths reported as well. we appreciated as always. michael bloomberg spent big in arkansas but joe biden emerging victorious in the land of opportunity adding to his sweep of the south, to the democrat stan

michael?ese types of payments are made to give the economy a shot in the arm, more than to help the individual. the individual then helps because of the shot in the arm. so the president wants the money to be spent right now. within the next two weeks, the checks should be heading out, at least if the president gets his way. the idea of just sending out money to everyone to head off a recession is not new. this was pioneered by president ford back in 1974. he ushered in a $30 tax credit for taxpayers which is about worth $100 a day that was received quickly and is widely believed to have softened hard economic times. when it occurred again in 2001 when most americans received about $300, and again in 2008 when most americans received between $300 and $600. so do credits or rebates work? do they help fix the economy? there is a disagreement on how well they work, but it is generally understood that when the rebates are aimed at low and moderate income worker, the economy is helped. and when it

and we're back with michael sam warren sapp humala just talking about killing 19 michael there's a questionthat bothers you know it's rhyme being told and i understand you've confirmed that some people and. the. the same happened in college 1000 but not feel it it's not have any symptoms. absolute majority of their own so you don't feel anything like no house no no nothing and that means that i can take as many precautions as i want and not seal the collet when i have it and in sac my parents who are 60 plus if i leave wasn't right that's that's a biggest issue in the us. that you have what you came to your parents in they get air they might have a severe disease that's exactly the biggest problem whatsoever here and that's why the brits actually in the big general dollar break they said ok guys you get young guys you can go go there well you know your life well you can go to the closing because it's very. isolation complete isolation. so what do you think is the the best approach i mean the whole herd immunity that britain was going for but didn't truly. do it at the end or what people are

well let's go live now to former british soldier michael michael is also a member of veterans for peace u.k. michael good to see you on the program the british defense ministries accused of turning a blind eye to veterans suicide it didn't collect data element on like say be u.s. . canada is it there for criticism and what should it have been doing 'd. ready. military spent 22000000 and mental health issues and then you can sort of the defense but you know you're not 50000000000 i mean 'd 22000000 so with a lot of money put into what we spend on weapons so when you consider the. government present government will any government in the past. we've put 120000 deaths due to austerity cuts to deal honestly think these people gathered on a few short years to get who would like. to know. the military means of just cytoplasm and the military just expendable items as all the and with much. and i mean you know because 'd the cost of moving up. the hope creates for the day that will turn a blind eye to the survival of the death of us like the criticism is justified we should point i think mental

michael bloomberg has unlimited resources.'s already spent more than half a billion dollars on this race. and several of the other candidates have staked their rationale on staying in the race on their ability to raise money. bernie sanders raising money from grassroots donors. they both announced really massive fundraising calls in february. $46 million for sanders, and 20-something million dollars for warren. biden is trailing behind. i think there is a sense now in which everyone in this race has to decide do i have a real path to go forward, and do i want to play a spoiler role? bloomberg is not going to face any sort of financial pressures to get out of the race. so the other candidates have to decide if they're going to continue to soak up the grassroots money, traditional money, making it more difficult for other candidates who have a bigger path to do that. and i think that's one of the factors that played into pete buttigieg's decision to drop out tonight. you know, his campaign actually had set a $13 million fundrais