A downturn and why im going to divide my explanation into 3 parts and im going to you know what lets do this i want to go over to the wall so i can do this for you let me go over here so i could show you what it is that were seeing as far as some of the trends go right theres a theres a debt burden in our country right now we talked about this before its like no other ever experienced in our nations history Household Debt is above 14 trillion dollars thats how much the average american someone like yourself may owe right so let me try and break this down for you into 3 key parts that many of you may find well relatable thats why we put this line graph up here for you and i want to start with auto debt its been going up now for about 3 straight years thats the blue line that you see right there look at that line look at the trajectory thats taken you know what this number represents right here that number. Its 1. 00 trillion dollars now i want you to look at Student Loans thats represented by that are in july and that you see right there this is important its actually going up now that ones been going up for more than 10 years and its 1. 00 trillion 1. 01 trillion dollars wrap your head around that number now now lets add up Credit Card Debt same thing taking place right now Household Debt is what were talking about its standing right now at about 1. 00 trillion dollars now just to put all of this into perspective in 2008 our entire economy had a meltdown right banks collapsed because of a mortgage debt. Of how much how much was that debt back in 2008800 1000000000 dollars thats less than any one of these right left in the student loan less than the auto less than the credit debt individually so now lets take a look at Something Else lets look at how Many Americans are not drawing an income right now according to Fortune Magazine just today numbers hot off the press that i just checked the real unemployment in america right now is probably around 16 percent thats a big nut right may go even higher for a couple reasons that we cant get into right now but lets compare that to the bust that we experienced in terms of unemployment back in 2008 at its worst absolute worst unemployment back then was around 10 percent. So what do we have ill tell you what we have. We have american saddled with record debt americans not getting an income so then why is the economy still chugging along and why is wall street going up a lot of people happen to be asking right now it has to do with the fact that the government has been stimulating the economy the cares act so many income providing. Bailouts etc but you know whats an even bigger part of this explanation its a word called forbearance see that word up there forbearance heres a big nut almost 8 percent of all americans have gotten permission from their banks as mandated by the government to not pay their mortgages theyre not paying you wonder how theyre getting by theyre not having to pay their mortgage thats their biggest debt thats 800000000000 dollars 800000000000 dollars in unpaid principal. But heres the question what happens 6 months from now when that Government Program runs out and they have to either pay it back toward the very least start paying again so heres what we have right now historic that historic numbers of people with no income and forbearance that allows those folks to not pay their bills until 6 months from now when they have to do what. Suddenly pay their bills. Then what. Were going to drill down on this because we think its a very important scenario and because wed like to drill down on stories like this to give you context and perspective here on the news with rick sanchez where we believe its time to do news again. Here is our list of the questions we think youll be asking them are always an economic crash an editable lot of so when. What does former minnesota governor Jesse Ventura think about the defunding of Police Departments and i promise theres a new russian drug to combat coronavirus all right so lets do this lets get right to the question of how we might or might not survive economically joining us now john grace. Of investors advantage core also a prolific speaker on the market for main street to wall street also joining us is veteran journalists. Who boom bust right here on our team america but i think we should start with you given what i just what i just presented at the start of this newscast which is a boom or bust. They were looking at a huge bust on its way i think youre explanation of forbearance was incredibly timely and incredibly important for people to understand because everything were going through right now is really about delayed reaction so the fed is working to delay problems within corporations and the stock market the federal governments been doing that theyve been delaying things and so everything right now is in this kind of mode of delaying you havent had to pay your taxes because federal taxes were removed until july and so theres been this effort to delay but delaying the problem does not make the problem go away its simply sets a new timeline for that problem and so what were watching is this incredible moment where the u. S. Economy is in a recession where we have millions of people who are still out of work right now as you said theyre being told you dont have to pay your obligations right now that will come some time later and yet were watching the stock market or right now and its coming back with a vengeance that has nothing to do with reality either thats all about the Federal Reserve pumping money and the treasury pumping money into the system and investors say oh this is great because it doesnt matter how bad things get were going to get bailed out. By the most powerful forces in the country theyre going to protect investment not protect main street the question is how long can these powerful forces in the country and our government itself continue to protect us maybe asking the question more colloquially john grace is this when the gravy train run out and what happens that. Well we might eat just about there rick and i agree your opening was fantastic it really setting the case here i mean this kind of looks like you know maybe my one of my favorite cartoon characters right to eat coyote and road runner where they were on a surface clip and then they are there in you know a lot for a few seconds and then they figure out how low they are going to go thats where i think we are right now i mean we just crossed the threshold of a recession yes to take 2 quarters that are negative weve been saying for a long time we increase the odds from 20 percent december to 80 percent in march and 100 percent in april that will be it has to be in a rear years but this thing has not been on Solid Foundation for a very long period of time lets understand were all doing the same thing everybodys trying to look like their car dash it whether its a consumer whether its businesses will talk about that one or whether its governments everybodys on borrowed time we think we could just put scotch tape and duct tape but the problem will just disappear. In the Central Banks could just fix everything and make the problems go away life doesnt work like that the economy doesnt work like that so this may very well be the end to this scare so when the music stops everybody has to get off but when i hear people asking so what if the economy is a back and ready in 6 months we just continue that forbearance we throw more money at it and if its not ready a year after we keep doing that how long can we do that every lead even a viable work on. Goal option its not a solution so the it isnt an option right its an option in terms of short term how do you keep the short term going for as long as you can i love the wiley coyote because were hoping for is that as we run over air if we run long enough theyll be bland on the other side it will be ok thats kind of the philosophy here but the problem is that there is a nature transfer taking place nationally right now by the way in terms of the business sector as there are a few major corporations like amazon and facebook that are doing extremely well during this time and theres a massive shift moving jobs and economy away from Small Businesses and into those corporations and that money is not going to flow back whenever we do cross the land on the other side and theres one other pitfall that we didnt even mention but id love to get to 2 gentlemen back maybe later this week and we can go after that which is the price of goods interestingly enough are all going up in america go to the Grocery Store and youll probably be able to see it for yourself stagflation oh my thanks to both of you john grace great stuff and so on as usual ill look forward to seeing you guys again. Meanwhile 2 new videos have emerged we have one of them here its its an incident between a new Jersey Police officer and an africanamerican motorist and we should warn you that you might find this video disturbing its happening a few weeks ago there youre seeing a new jersey state trooper who pulls over a man for hitting the dangerous speeds of 110 miles an hour at the trooper places gordon in this police car rescored in a scuffle that ensues and lets see what happens here it is. So there you see more than a suspect. Tries to get out. As a. Police officer is going to come up to. Him like theyre on the bus. Now thats when theyre fighting a scalpel and shoes and. Those are gunshots. Yeah those are guns. And mel this case is being investigated by the users. By the way this is happening on the same day that george floyd is being eulogized and hes being laid to rest meanwhile a lot of people around the country are remembering floored with still protests including one that continues in our Nations Capital now going on at least the better part of a we get a half or so actually back to our correspondent whos following things there for us hes checking on whats going on and she fills us about actually want to. Pay their rent so im here on 16th an 8th street right here in downtown d. C. Not too far from out of the white house you know its a do is a kitchen break im sure you can hear the music its over here there are people that are doing a line dance and just having a good time and the earlier people were handing out free food and water they also have their cell phones out and theyre recording messages that are on the ground that say things like say her name say his name just remember embryonic cell or a modern armory and of course if you are exploited and then we have signs about here that are on this it you can see the black lives matter sign but you can also see it posters where people have posted messages on the gate and they read things like the silence is violence as long as it takes and boat and a group of people were reading the names of what seemed like a real High Profile Police brutality case that its taken place and this country now its been 15 days and some officer derek shows been killed george boyd by placing his feet on george fords neck and although all 4 officers and involved in the keys not been charged people are saying that theyre going to continue protesting and tell me see reform in the Police Departments across these it now while people continue to protest floyd was laid to rest in houston today. I want to take a look at what some of the family members had to say. I just want to say that the. Whole. Amount. Of. I think go on for giving me money person to superman. Theyre off those who show no remorse watching soap levys body the big lead at times for you. But you just because honda why must you system because broken laws are deeply flawed africanamerican system to do. These laws you could be shining just no more hate crimes hes so whats it make America Great again but one has america ever been great. Of your days ago d. C. Maam aerial valves are painted the words black lives matter on this it very street and she renamed it black lives matter and the laws up here although many thought that it was a bold move some people were saying that thats just not enough people are asking dollars or in other mayors across the nation to fund the police and allocate funds elsewhere who tell marginalized communities you know over in minneapolis mayor jacob frying hes already seen it that hes not going to define the Police Although a lot of citizens in that city have been asking for years and that he knew that he didnt buy that will be is because of that in the high profile cases weve seen with the land open steel and to market large loads to people who were killed by bullies and same paul and minneapolis and the people in minneapolis are basically saying that enough is enough and we see that approximation even here in d. C. Where people are saying not that i dont want to serve or get out we are in the middle of a pandemic and that this time it appears the protests will continue at least for another few days carried out with reopening some of the citys experts warn cuban. Numbers continue to arrive back to you rob it was very just one quick question and you can certainly had so with a yes or no question we have you can hear me have you seen any hint of the violence at all or confrontations with Law Enforcement while you were in there today do you know i have not read thank you so much nationally back following the story for us there outside here in our Nations Capital just outside the white house this is the news with rick sanchez on youre watching our special coverage and were going to be right back. I like it when the hosts ask a question for the guests and then actually listens to the guests answer and then react to that answer a folks Dennis Miller here ive got a new show. Im a journalist its all i know being a truth teller people say i make among come from good uses like a jackhammer good drill down and think find the truth news with rick sanchez because its time to do news again and question more. Listen subletting online algorithms dictate what you get to want to go to portable dot tv slash download to get killer television its completely free im talking Award Winning comedy awesome Sports Coverage inside so fresh still tastes like raspberries on a spring day take so hot theyll burn your face off thousands of videos more added by the hour. Its yet 3 go go get it for the t. V. The questions. Number. And this is. Just. Larry king question being listening learning you know ive always said i never learned anything when i was talking its important to listen. Question more. Welcome back im rick sanchez on a personal no i cut my teeth as a cop reporter in miami some of you may know that who followed my career ive been around Police Officers all my life ive heard them say essentially that what theyre being asked to do these days seems unfair our society has lots of problems including race but not limited to race and we expect Police Officers to deal with all of our problems and somehow try and fix them whether its a teacher with an unruly student a fight in a playground a domestic argument police end up having to deal with it and not what theyre really trained to do so when people say that maybe we should fund our communities differently and not just hire cops but also hire social workers and teachers and coaches those trained to deal with people in a noncriminal environment may have a point. I want to bring in now somebody who has actually had to deal with government budgets because he was a governor of the great state of minnesota honored to have him on former governor of minnesota Jesse Ventura got our what do you make of the argument that maybe we need to start funding other things besides Police Officers that doesnt mean that all Police Officers are bad it just means that maybe we ought to mix it up a little bit more. Well it also means we need to start looking to the root of the problem and the root of the problem just isnt Police Brutality the root of the problem is economic brutality too in all of that and when you talk about the funding you know id like to add to rick i was a governor or mayor also i was the mayor of Brooklyn Park minnesota the 6th largest city and when they talk about defunding the police id like to get this clear that this would mean theyre throwing the cops out and you wont have Police Protection anymore what it means is what you talked about it in your opening of taking farms and putting them in allocating them but different places where things can get accomplished like you said why should cops be required to be psychologists and site. And all their stuff when they get called to situations of Mental Illness so what they mean is by allocating and pushing farms i think it was camden new jersey did it and they literally destroyed their whole police force rebuilt it up from the base up and today i heard some figure that crime is down like 43 percent from what it used to be there and now youve got truly Community Policing going on i think another thing that needs to happen here cops need to live in the towns where they police. Could not agree more by the way theres something that ive noticed in my life i know im a little older than you but i remember when i was a. Yeah i ride her out of there kid growing up in this country our parents worked i came from a family where both my parents had to work so i was home alone many times i would go to the park and the government would have somebody at the park who was a wrecked leader or a wreck director and they actually taught me how to play basketball they taught me how to play football they taught me how to be a man essentially today you go to most parks in the United States theyre empty theyre not staffed theres a guy on a tractor cutting the grass and if you want to play there you gotta pay for being in some private league or something i think thats a mistake dont you. I mean when i was a kid growing up i was like you i was a Latch Key Kid but that had good advantage to it because if you got home quick after school you change clothes and get out of there you can go back to the park and play mall known dinner at 6 and your folks couldnt you know it was a way to get around and you just knew home to be be home in time for dinner weve lost that to the youre absolutely correct you dont see kids at the parks anymore you dont see any extra activities going on and thats where you got to allocate your funds not just in busting people have tags and let me say this the other disturbing thing why do cops now look Like Star Wars commandos i mean when they come out and you look at them they dont look like your friend they look like an Occupying Military today yeah i agree i you know these cattle flaws you know uniforms and some of them look like like seals like what you used to be rather than somebody who seems approachable and i think that makes a big difference in policing doesnt it. Yes and i believe that i was driving down minnesota a year or 2 ago and i saw on the freeway this big black vehicle looked like could belong to an al rack and i pulled alongside him and said mr silver state Highway Department there i looked and i said ill tell you what we would have bought that if i was still the governor i guarantee of at this stage i was on believe all i mean it was it was a combat military machine we need to get bad stuff out of our police force was we do i was in the philippines when Ferdinand Marcos declared martial law i was physically there and there were military on every corner with machine guns lets not do that you know its funny you said that you know they didnt buy that they gave it to him for free that surplus from the military and what they do the military wants to keep doing new stuff they get it from the Big Companies here and then with their surplus stuff they call cities and governors or whatever and they say you want this stuff and they say sure well take it so theres no military hardware in our cities thats thats the reason its happened governor. Oh well however its happening it needs to stop rick we dont need our carps running around in our country looking like an Occupying Force and you know what im going to throw some of your i want people to Pay Attention to our you know who else. But stored for law and order and made a big point of he was that guy over in germany by the name of. Our platform of law and order and with we say thank you Jesse Ventura former governor of the state of minnesota a point well made thank you sir good news from russia for the global fight against covert nigerian president the Russian Health ministry has approved yet another remedy to heal severe forms of the disease that means less people will die hard to use your shop of oliver has more. Coverage 19 seems to loosen his grip slightly as a new remedy has arrived introduced by russian scientists the patients hit hardest by the disease the ministry of health has registered yet another drug for treating complications caused by code 19 called living a lie mob with its trade name the medicine is to help patients with severe course of the disease when the socalled cytokine storm develops its condition is an excessive inflammatory reaction of the body to the introduction of the virus which leads to tissue damage in particular parliamentary with a possible fatal outcome and initially the drug was created to treat a remit toit. But due to its mechanism of action it later underwent clinical tests as part of the fight against corona virus infection and the results turned out to be very positive according to research as if the drug is used in advance when the cytokine storm is just about to develop and not at the moment when it has already developed and then the life threshing effects of co the 1000 can be prevented doctors recommend just 2 injections of the drug when the 1st signs of the complications appear and patients do not get. Into intensive care and do not need ventilators the drug reduces the patients stay in hospital and at the same time prevent a life threatening situation in july this year the Company Plans to deliver the drug to russian hospitals the drug has already been used in hospitals for 2 and a half years as a Rheumatoid Arthritis medicine and bad its proven that its not dangerous to humans all possible side effects are said to be predictable and controlled meanwhile the global race for a coronavirus 16 continues the u. S. China and russia are among the frontrunners meanwhile in late may russia proved its fast draw against coronavirus called the 5 year basin a japanese drug approved for the treatment of the 19 it has been fairly well studied and used in japan since 2014 again severe flu complications plus russia has already begun testing its very own new vaccine and volunteered representatives of its military posture now you know. Thanks so much and thats our news im rick sanchez stay safe stay connected with portable t. V. And of course you can also download so you can watch it and get the very latest on all of the stories taking place right now including whats going on with protests and whats going on with the. As you can also see you can also join us on roku and on Amazon Firestick as well we leave you with actual protests that are taking place as we speak this is a live picture youre looking at right now from manhattan where protesters have been peacefully assembling arguing for justice and arguing and protesting for the death of george how much of your. Join me everything on the all excitement and ill be speaking to guest of the world of politics Small Business im show business ill see that. Its hard to take some from somebody if you know have something to replace and. We want to do this interview today and all these markets and then they take me. Off the area. So im going to tell you start selling drugs if well hire somebody put the money in it back. Then just me all the way in life its almost been basically a color speech for the worst do you guys know whats a good many security positions over the us you know. Jack me again. You see people get all their cars and ill see you coming in the heart and it seems like theyll hurry up and run into the house like they dont want to they dont want to talk to her get your mail or anything like that. I just want to go. And do that. But just try read. Im max kaiser one more of my guide to financial survival this is a hedge fund its a device used by professional scallywags to earn money. Thats right these hedge funds are simply not accountable and were just adding to them. Totally destabilize the Global Economy you need to protect yourself and get in for gods guys or for
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