Agenda on the postelection economy, we are joined i larry kudlow, who is very kind to join us from his vacation time. We are thankful for that. He is President Trumps chief economic advisor. Larry, thank you so much for joining us. Mr. Kudlow thank you for having me, ben. Prof. Peterson i will also have a separate ben i will also have a separate conversation with pat mchenry. You can follow along with the h tag rncpolitico. I want to ask you about what President Trump said in 2016 and even before that when he was running for president. He called the stock market a big fat bubble blown up by the fed that was set to explode. I wonder why it is not the same thing now, given the fed is pumping huge amounts of money into the economy. Why is the stock market not a big factor like you said it was in 2016 . Mr. Kudlow it is a completely different situation today than it was in 2016, dealing with the pandemic. And the resulting Economic Contraction permitted getting the pandemic. Premitigating
Were also continuing to make progress in the development of a vaccine. This is something so important. Also therapeutics are on the front burner. Were having tremendous, i think well let you know very soon, i think long before the end of the year, were having tremendous success on therapeutics and tremendous success on vaccines. Were ready to deliver them literally as soon as theyre okayed. This morning my administration approved one billion dollars for Johnson Johnson who has been working very hard. They have something very special, to manufacture and distribute 100 million doses of a china virus vaccine as soon as one is available. And again we think that is going to be soon. We think we will have the vaccines before the end of the year, maybe long before the end of the year. Finally today im pleased to announce the department of justice has issued 35 million in grants to 73 organizations nationwide providing assistance to Human Trafficking victims, a terrible thing. You think of Hum
With Democratic Leaders in the house to extend relief payments. , asre negotiating right now we speak. We will see how it works out. If democrat leaders put partisan demands of side, we would reach an agreement very quickly. It would happen very quickly. Meantime, my administrations executive actions to provide protections against you actions. Eviction is a big problem and unfair to a lot of people. The virus came from a faraway land. Towell as additional relief those who are unemployed as a result of the virus. Very importantly, i am also looking at a term limited suspension of the payroll tax. Something that has great support from many, many sides. Especially some of our Top Economists and people that we have Great Respect for. So we are looking at a suspension of the payroll tax. The democrats are primarily interested in a 1 trillion bailout of the poorly run states. We have some states and cities, you know them all. Run over been poorly the years. We cannot go along with the bailou
Been reported each day. Untraceable cases are on the rise. Experts said transmission is not limited to bar and nightclubs, homes, work places and restaurants are also vulnerabab. And cases among the elderly are increasing. They also said the health care systemem is under strainin. Translator if you go out, please take thorough measures to prevent infection. We are also asking residents to refrain from going out as much as. Governor koikes call comes as the rest of the country begins a new tourism campaign. Tokyo reported 238 new cases on wednesday. Thats above 100 for the 14th straight day. Meanwhile, Prime Minister abe shinzo says hell postpone easing restrictions on large scale events until the end of august. Thursday marks one year until the opening of the Tokyo Olympic games which had been postponed because of the coronavirus pandemic. The biggest challenge facing organizers is securing the safety of athletes and spectators. Officials need to consider quarantine measures and medica
Cases surging in many u. S. States. India considers new lockdowns. Facebook insists it has diversity at the top of its list. But it seems to have done little to boost black staff numbers. Lets take a look at how we are shaping up. That drag coming through from u. S. Stocks. Rotation ofsee this the highflying tech stocks. Netflix casting a very dim shadow. Missing horribly on just about every metric investors care about. Nikkei futures up by a quarter of 1 . Tsmc raising its outlook for evan revenue. Maintaining there for your guidance. Saying that they are seeing improve conditions coming out of china. Lets take a look at chinese stocks in particular as we close out this trading week. One state media article suggested it was responsible for corruption and bribery cases against china. We will continue to see if that stock stages much of a rebound. Shery of course. Also moving markets as the coronavirus. Deaths topping 585,000. U. S. Infection rates rose 2. 5 . Brazils count rose above 2