joining me now is lisa chanel or an economists and analysts for the latin america region for standard and poor's lisa thank you for joining us $0.55 on the dollar that doesn't sound like a whole lot why have creditors accepted this deal. well it's really sort of want to think of the midpoint you've had a series of negotiations and then vishal offer 'd in april. and while it may seem low for creditors it seems high for the government there's been disagreement on if there is a debt solvency issue with the burden too high versus just a liquidity issue it's the payment flow. but bottom line is it's also the case that creditors have not been paid since april 22nd we have downgraded bonds to 12 in total since that time. what does this deal mean for normal argentines who may not understand the intricacies of these payments missed payments etc yeah and your piece highlighted the poverty issue the fact that the country's been in recession actually but this will be the 3rd year of a significant contraction of almost 10 percent 9 percent this year it lets the country move forward to kind of stabilize relat

right now to say what its inherent underlying value is you've got 40 percent for example of the standard and poor's $500.00 it's pulled guidance all earnings guidance for the year so if you're talking about the most traditional valuation metric the price to earnings ratio it's kind of undefined right now is so i mean we're an absolutely extraordinary times and yet we have the markets at all time highs that is what that policy is creating and the irony is that you know corporations have tacked on an additional trillion dollars of debt in very short order and this is just going to make them that much weaker than they were coming into the year if we don't have a true the shaped recovery and i mean full the shaped recovery this is going to leave that sector that much weaker and more to one of the things that's coming to my mind one thing of the financial reporting is that it's almost is if house the economy isn't necessary anymore or wrap the people in the economy for it to continue to move forward i find that really quite bewildering because again if you look at you know a lot of financial news you kn

the world would make sense with the work of the general wages and living standards of working class and poor people a city constant or declined since the late seventy's. the numbers of people who need housing and grow because of the growth in the population the supply is not up to the to nearly the same extent so somebody is going to get squeezed out and somebody you know most people the moment some people over the country have been squeezed out of the bottom. so now there's a new public housing so the shelter system is like a public housing so because housing is not treated as even the writer of the title meant which it should be the country is both is this one. and order for us to get. and be right back to society and company office to try to resolve this issue it's gone on far too long. it's a fundamental right like having food and finish all i can find by care let's take a look at the universal declaration of human rights. as the peoples of the united. i have in the charter reaffirmed their faith in fundamental human rights in the dignity and worth of the human person and in equal rights

he was on the board of what became standard and poor's. he was a real player. his wife was a very important new york suffrage. if i could read the mission statement of the league, let me see if it is here, and i could see it which could be a trick. >> while brooke is looking for that, i just -- i could add that laidlaw, when he led men at the 1912 parade, he was asked why they were marching and he said we are here to give moral support to the women and courage to the men. and i always thought that was quite poignant. >> so here is the statement in full. he goes there are many member who inwardly feel the justice of equal suffrage. this is written in around 1913. but who are not ready to acknowledge it publicly unless their backed by numbers. there are other men who are not even ready to give the subject consideration until they see a large number of men are willing to be counted in favor of it. the man who is so prejudice that he will not consider it at all will pass away with this generation if not sooner. the usefulness of the men's leagues politically to wome

and obama do solemnly swear i told john truong do you solemnly swear. the world would make sense with the work of the general wages of living standards of working class and poor people the city constant or declined since the late seventy's. the numbers of people who need housing and grow because of the growth of the population the supply is not up to the to nearly the same extent so somebody is going to get squeezed out and some of the most people the moment some people over the country have been squeezed. so now there's a new public housing so the shelter system is like a public housing so because housing is not treated as even the writer of the title meant which it should be the country is both is this one. and order for us to get. and be right back to society and company office to try to resolve this issue it's gone on far too. that's a fundamental right like having food and fish oh i think anybody care to. take a look at the universal declaration of human rights. as the peoples of the united nations have in the charter reaffirmed their faith in fundamental human rights in the dignity and worth of the human person and in equal rights and. to see that it's

and for all a double standard of justice. reason why bigshot crooks should go free and the poor ones go to jail. [applause] a part of government is to make it easier for us to do good and difficult for us to do wrong. as an engineer, a planner, a thenessman, i see clearly value to our nation of a strong system of free enterprise based on increased productivity and adequate wages. we democrats believe that competition is better than regulation. [applause] we intend to combine strong safeguards for consumers with minimal intrusion of government and our free economic system. [applause] i believe that anyone who is able to work off to work. -- ought to work [applause] i had a chance to work -- we will never have an end to inflationary --, we will never have a balanced budget which i'm determined to see as long as we have eight or 9 million americans out of work who cannot find a job. any system of economics is bankrupt if it is easy to value or virtue in unemployment. [applause] we simply cannot check inflation by keeping people out of work. [applause] the foremost responsibility of any president, a

and in india, also a forecast of 8% drop. so china may be doing well, but by its own standards, 1% growth is really very poor. g watcher of china, speaks fluent mandarin and all the rest of it — says. "an already slowing economy in china, "the ongoing impact of the trade war with the us, and now covid—19, have placed xijinping's leadership under its greatest internal pressure yet." i have enormous respect for kevin rudd. and you're right. he's a very good china watcher, but at the same time, i also have a lot of other friends who watch china equally carefully, and it is all a matter of context. at a time when no major global economy — not one — can register positive economic growth after this massive global recession, china is registering positive economic growth. of course, china could fail. i completely agree with that. china can fail. but if you are a realistic planner, are you going to plan for something that may or may not happen? and in the case of china, you've got to have two plans. 0ne, it may fail, but one, it may succeed enormously. and if it succeeds enormously, guess what? we have a very different

and then they'll crowd the men. in america this is especially striking the spread of the coronavirus is directly related to the standard of living in a particular area and it's a poor neighborhood where the lot of migrants and the virus is going to spread far more quickly and claim more lives than. in other parts of the city so if you are in a more affluent area of new york you might find one or 2 people without a mask because if there is nothing they should worry about but here in alberta where death is so real and so close you'd be hard pressed to find anyone without protection we are incredibly on the ball in our society compared to western or the new york accent and when it comes to public resources institutions and services we don't prioritize that year so we're rich if you look at g.d.p. and if you look at the fact that we have like more billionaires than other societies but in an incredibly poor overall and an incredibly unequal country that means that these kinds of crises are going to affect some folks much worse than it does others. this is a portion of the cremains that have not been picked up from the cases that we did what we called on a 2nd set this a

you have all of these factors and people living in poor, sub standard housing. don't have any recreation and don't look forward to any hope. can't look forward to employment so they can support a family. but you have malnutrition and we have disease and all of these factors coming together and this kind of explosion that is taking place at the present time. i say that unless we come up with some answers, economic answers, we need 30,000 new jobs in the united states every week over the period of the next ten years to have a full economy. unless our economy does well and unless we can find employment for our people, then you're going to have many problems. i think that we can do that. i think we can stress vocational training and stress education. i think we can have our best teachers in these deprived areas and i think with the passage of the tax bill, i think that with other measures that can be taken and the economic field, these really come under the category of civil rights and i think we can get the answer. but you are going to require this action by the fed

and their aspirations for filled -- fulfilled. we have reached a new standard in life for our america, not just for the poor but for every american,sinessmen, farmer, schoolchild and housewife, where the future of progress must be judged. urgent challenges in urban america, where some 70% of our people live, on 2% of our land. within 75 years, 100 million our nationaln family. i ask you, where shall they live? how shall they live? what should be there which are -- their future? we shall decide in the next few years those questions. the unitednt of states will establish policies not only for this generation, but for children yet unborn. our task is tremendous and i need your help. [applause] hubert humphrey: the simple solution of the frustrated and to our complex urban problems is to lash out against society, but we know and this is nonow that answer. violence breeds more violence. disorder destroys. and only in order can we build. riot makes for ruin. reason makes for solution. nor can there be any compromise with the right of every american who is anxious and willing to learn to have a good education. [applause] hubert humphrey:

and applause] my mom was a teacher. i respect the profession. we need great teachers, not poor ones and not mediocre ones. we have to have high standardsids, because self-esteem comes from achievement not from lax , standards and false praise. [cheers and applause] and we need to give parents greater choice, particularly, particular poor parents, whose kids, most often minorities, are trapped in failing neighborhood schools. this is the civil rights struggle of our day. [cheers and applause] if we do anything less, we will condemn generations to joblessness and hopelessness and life on the government dole. if we do anything less, we will endanger our global imperative for competitiveness, and if we tearything less, we will apart the fabric of who we are and submit the turn towards entitlement and grievance. -- mitt romney and paul ryan will rebuild us at home, and they will help us lead abroad. they will provide an answer to the question, "where does america stand?" the challenge is real, and the times are hard, but america has met and overcome hard challenges before. whenever you find yourself us, just think about all of those times t

and the choices that were made. the women who felt excluded from the standard work of suffrage were many. poor, white women often felt excluded, and women of color were outright excluded. your point, we can hold two things in our mind at the same time. we can hold a deep admiration for the sacrifices and diligence and remarkable work of women to get the 19th amendment passed, and we can simultaneously hold the stories that we know from nettie helen burroughs of the work that they had to do which was doubly hard. i think you are right, they shouldn't erase each other, if that makes sense. that as complex humans, we should be able to hold them both in our hearts and minds and find inspiration from both, also understanding their context and place in time. i hope that helps. host: we have time for one or two more phone calls. jerry in somerset, kentucky, good morning. caller: good morning. i asked my granddaughter if she knew how women got to vote. i said they didn't have the right to. guest: what did she say? caller: two wars, equal rights, women's rights, voters rights, the only time you get maj

are 23% of the standard & poor's 500 makes up eight $2 trillion apple and the rest of them as well.do you do about it? you can't tell me you cannot own those, you have got to on those stocks, right? andrew: that is a good question. never forget that what happened in 2000 was we had high concentration of a few stocks on the s&p. , the s&p wasbroke down over 20% in 2000. but, the equal rated s&p was up. the value in part was up that year. i think the danger is that while people are buying the markets, they are really buying a handful of stocks. the tech bubble breaks. i think you are vulnerable. look, we were a 20 stock slump and i own one of those stocks but we are having a good ear. i do not buy the argument that if you do not own them you can do well. research,is a great m.i.t., when you have a 20 stock portfolio, do you diversify by sector or by individual security? inherently i think you should diversify by sector. what is most important in any portfolio is you do not have one debt. even in a 20 stock portfolio, you can have stocks that move under various things. like some ofll t

and then they'll crowd the men. in america this is especially striking the spread of the coronavirus is directly related to the standard of living in a particular area that is a poor neighborhood with a lot of migrants down the virus is going to spread far more quickly and claim more lives than in other parts of the city so if you are in a more affluent area of new york you might find one or 2 people without a mask because if there is nothing they should worry about but here in just where death is so real and so close you'd be hard pressed to find anyone without protection we are incredibly on the ball in our society compared to western or that you're excited about and when it comes to public resources institutions and services we don't prioritize that here so we're rich if you look at g.d.p. and if you look at the fact that we have like more billionaires than other societies but in an incredibly poor overall an incredibly unequal country that means that these kinds of crises are going to affect some folks much worse than it does others. this is a portion of the cremains that have not been picked up from the cases that we did what hold on a 2nd so this all these a

and no one knows who you are or cares. we were not well-off. as a matter of fact, we were poor by any standard but i never knew a time when my mother was not finding someone in the community that was worse off than we were and she was helping them. fmr. pres. reagan: did your mother -- reporter: did your mother specifically plant the ambition of a public career in your mind? reagan: no. as a matter of fact, without her knowing that she planted in my mind the first ambition, the entertainment world. she had been a hometown talent, in a hometown talent club that put on plays in the small town and she gave readings. i don't think that goes on anymore, but she would be invited to go to club meetings and recite -- whether it was comic or dramatic or whatever. when i was a little boy, she kind of got me interested in memorizing. i think that is why i could recite the robert w service, a couple of those poems. but i had two great interests in my education in addition to getting an education, and they were athletics, playing in the athletic teams, and being in the entertainments, in the class plays, a

off-campus which are inconsistent with our community standards and have had an impact on our ability to go forward. >> reporter: fingers crossed is a poore dame, 372 people have tested positive. the student paper's front page editorial "don't make us right" obituaries.ath ratearw atesupinhse up in 26 states. but america's heartland has more covid roubles. rising cases in 12states, including north dakota, wyoming, kansas, and missouri. south dakota's average daily case loads are up 58%. just one week ago, the state hosted a biker rally with a quarter million attendees. >> let us ride! >> reporter: feeling normal again is behind the push to play fall sports. in division one, there are 130 schools. 54 programs so far have shut down this fall. but some schools require testing of all arriving students. covid stampeded on campus, anyway. and with this virus, getting it wrong in the first few weeks fuels a crisis. georgia's covid case is improving. like other southern states, it has been a hot spot for months. but now theother danger: a pair of tropical tropl storms named marco and laura. both complicating the region's effort to bring the viru

standard & poor's index really be increased over the last few months. in other words, it says the market is not very worried about those things in regards to transitory, the underlying earnings growth andmic growth as we work our way through the covid crisis over the next few months. that, right, and part of i guess lack of opacity over where we see the economy going, we are seeing some uncertainty brewing in the treasury market. is a selloff in the longer end an inevitability even if we get the announcement of more bond buying and more qe? is there an argument to making a short position across the 20 year, for example? margie: i think we had a little bounce up in yields and i think it is natural just as a short-term reaction for these extremely low rates. it is very hard for me to see where rates can go on the upside when the fed has promised and guaranteed to flood the system with the quiddity to keep rates as close to zero as they can possibly do. i think it would be a risky strategy to short treasuries because i think the trend is for stability or lower levels. shery: we continue to see pressure on the u.s. dollar as well. how does that impact your portfolio? margie: it has and we

standardized across the country. but last week's outrage over a—levels showed these children were about to be disadvantaged by the same system. we're a state school and they were saying that people from poorades, i think is a joke, really. when i found out a—levels were being downgraded, that made me absolutely petrified. and then we found out we did a u—turn. and now i feel like i'm going to get the grades that i do deserve. after seeing the a—level results come in the other day, i was a bit iffy about how my results were going to turn out because a lot of people were unhappy about it. but to be fair, it's a bit of a learning curve for the government — for everyone, really — because we've never had to deal with this before. the change in direction earlier this week meant a move to grades agreed by teachers, and they'll feel the benefit here too. over the last 12 months, this school has changed quite a lot and the grades that our students would receive them would have been would receive then would have been reflected in the historic two years worth of grades that would have affected them negatively. but what we've seen as a result of the decisions that have been made is that, actually, th

and cares. we were not well off. as a matter of fact, we were poor by any standard. i never knew a time when my mother wasn't finding someone in the community that was worse off than we were and she was helping them. >> thank you, that's helpful. did your mother specifically plot the ambition of a public career in your mind? >> no, as a matter of fact, without her know iing it, she planted in my mind the first ambition, the entertainment world. she had been in a hometown talent club that put on plays in a small town. and she gave readings. i don't think that goes on anymore, but would be invited to recite whether it was comic or dramatic or whatever. when i was a little boy, she kind of got me interested in memorizing that's why i could recite the robert w. service, a couple of those poems. but i had two great interests in my education. in addition to getting an education, and they were athletics, playing in the athletic teams and being in the entertainments and the class and plays and drama club plays and so forth. and even though i got my degree in economics when i