By this because heres what were learning today today new report fresh off the press right so grocery prices are increasing and i mean in a big way theyre showing their biggest monthly increase in nearly 50 years last month this is according to the bureau of labor statistics in the United States government biggest jump meat and eggs youre now paying 4. 3 percent more for meat megs all in one month by the way imagine how much higher it could still get by the way you going to be paying 1. 5 percent more for fruit and vegetables and 2. 9 percent more for cereals and breads just on average you want to talk jobs lets talk jobs new study there too this comes out of Stanford University it says that of all the people who have lost their jobs in the United States so far 60 percent of those are going to get their jobs back conversely 40 percent are not going to get their jobs back. Thats a big nut right now this is based on whats happened historically during recessions and its about a month long study that they have done now lets look at the macro side to this story and by that i mean all the free money that is being thrown into the system by governments and Central Banks all over the world in the United StatesInterest Rates have been essentially cut to 0. Which is by the way really good for banks and really good for corporations right but maybe not so good for a family trying to save up now lets talk about the stimulus or the recovery money or the bailout or whatever you want to call it. Its at the point now where its almost hard to keep track of but the number the consensus the general consensus on the number thats being used for how much money has been thrown into the system as a result of what were going through somewhere around 5 trillion dollars and theres talk it could still go up based on some of the things that theyre discussing in Congress Even just today up to about 8 trillion dollars right same thing happening all over the world india just this morning announced its unveiled a new massive stimulus a package on top of the one theyd already announced this was a 266000000000. 00 they say thats about 10 percent of their g. D. P. They call it. Economic assistance but it leaves you asking right for whom all right lets talk about germany another big story going on right now its taking place in germany and this is interesting because there is a constitutional dispute right now in germany where the courts are questioning the european Central Banks right right there right to simply print money as part of their q e without explaining it to german citizens who are going to be negatively affect that right for example german savers who are saying yeah we agree with this they should question that because they say theyre now going to have to pay the bank just to be able to hold their money and you have to ask yourself well is that fair right so suddenly for the 1st time were starting to see pushback against these Central Banks and by the way theres also. Theres also another looming question when it comes to this issue that may also be screwing over the average worker and its this what i just described right when the market is flooded with money when real wages and jobs go down while the prices of goods goes up. Folks what youve got almost by definition this is inflation is that where were headed maybe even in a real big way were going to talk some experts right here there is rick sanchez where we believe. Its time to do news again. Ok lets do the list today the list of the questions we think youll be asking tomorrow bailouts stimulus is fewer jobs whats it all leading to somebody has got to ask who is the newest group to descend on washington asking for its slice of the pot. What exactly is the new employment tory risk to children from coburg 19 theres a Big Development on that story were going to bring it to you as the 1st brewing battle between regular folks citizens and that vaulted yet magical and mysterious and to t. Known as the Central Banks you know the people who can create money seemingly out of thin air in germany courts as i mentioned are pushing back against the central bank the European Central bank by the way in the name of citizens who they argue dont have enough of a say so lets start there shall we but our correspondent reporting from berlin here is our tease peter all over. The coronavirus pandemic is putting pressures and strains on many relationships one of those thats feeling the pinch is not between brussels and when it comes to financial burden sharing in the eurozone germanys highest court said the european Central Banks kuroda bond would need to prove it was fit for purpose if the single currencies largest economy was to. Commission boss didnt like. The recent ruling of the German Constitutional Court to put under the spotlight to each years of the European Union the euro system and the European Legal system the final word an e. U. Law is always spoken in luxembourg nowhere else so with their well not quite that statement from a slip on the line gave those that will be vying for the job of german chancellor next year when angle of merkel calls it a day an opportunity to show just how tough they are the statement from the u. Commission in particular that bar that european law all of us takes precedence over national law especially in such a conditional form is simply not accurate chancellor merkel the self a sense that countries moving a fiscal helping hand due to corona should rely on existing other news like the european stability mechanism. Despite the view it is a slap in the face find states like italy who remember too well the crippling austerity that was forced to be. Veiled in self help there are also voices in germany including doubts of president of the boat in the stagnant fold the finance minister. Saying perhaps this isnt the economic elite should insist on dying on and that this whole law he meant puts more that National Pride at risk may well be that the existence of the euro is now also questioned in other e. U. Member states because every national Constitutional Court can judge for itself make no bones about it eurozone economies it going to need some serious financial help not only in a post corona world but in the immediate schultz and media as well in order to get that help in a way that suits the likes of italy and spain and in brussels im going to have to stop playing my call is bigger than your colts which doesnt look likely any time soon. To a fascinating story here joining us now to discuss this is former british m. P. George galloway also another george is the george show George Gavin Newsom an investor an extra out of me with a very large following by the way on social media especially on you tube and check him out galloway im going to begin with you youre in europe its finally happening hah the masses are pushing back against the all powerful Central Banks what do you make of the. Well this is really about germany not being prepared to shoulder a disproportionate barred from the media. And of course longer devastation caused by the coronavirus this is. To its a battle between the German Government and the national. European union or authorities is one of the good reasons for leaving the European Union to say we decided to do we need to get out the end of the year or will be left to shoulder some of the barda but the overarching point is one that im sure george will have a lot to say a boat which is how does it translate printing money giving it to banks on to main street wall street fighting the city of london fire and they are brimming over no with q. E. Money but how does that get down to those small. Those Small Businessman business woman on the war car the front how does it get the house put into as you put it back to painting houses how does it get the butcher shop open these are really very tricky questions if youre going to avoid not just inflation but stagflation which is a real danger here with out slumping jobs disappearing and yet lots of money arrived it sounds like. Your side of the court there george gavin pick it up for us will you what do you make of that and by the way let me just share something with my audience one of the very 1st persons that i heard publicly talk about inflation and this is like 2 months ago is gammon he was a 1st one on his show you to take us through what was going to happen i mean it sounds like is this what you were talking about what i was just explaining this morning that the bureau of labor statistics put up. Yeah i did i saw your segment just before we came on where you talk about food prices i was referring to that as well but going back to what george says i think you make some fantastic points so how is this money supposed to get to the average joe and jane on the street and i think theres going to be a big problem with that the main reason is because the fed has to. Interest rates artificially low at the long end of the yield curve so since the yield curve is very flat it doesnt create a big incentive for banks to lend into main street because they borrow short they lend long so theres not much of a spread there they cant make much money with Retail Banking so what do they do they look at the collateral that these people are bringing to them potential borrowers and say. And youve got the corporate bailouts youve got the stock market bailout youve got wall street being bailed out youve got the billionaires being bailed out so if youre a bank youre saying well who would i rather lend to someone on main street or would i rather lend to a billionaire or a corporation or someone that has collateral in the stock market that i know the fed is going to backstop with all of this money printing so when you incentivize the Banking System and you you create this structure where they cant make money by lending to the average joe and jane but they can make a lot more money with a lot more risk or with a lot less risk excuse me by lending to these big corporations thats why the money will never get down to the people who actually need it so what happens that i mean if that continues and for how long what eventually happens to the system at what at what point can 1 to quote the terms we were using before the housepainter trying to start a Small Business finally break through. Them and while i dont yeah i dont think theyre going to get too much of a loan i think they might be able to get some sort of some form of assistance with the light u. B. I. Or helicopter money and empty whatever you want to call it the allow them to buy the staples the groceries but unfortunately then you get yourself into a situation where were reducing the amount of supply the supply of goods and services is shrinking because more businesses arent creating more jobs and if you get the supply shrinking while the same time you have more money going to those same goods and services you have an increase of inflation in that segment so what that means is you have de flay ssion in prices of things where you need credit so car loans maybe maybe homes but then the price of food the price of energy long term continues to rise what do you make of that george galloway. Well i for me helicopter money is the most effective way to give directly to jewel and jane because theyll definitely spend it and theyll spend locally on local goods is whats happening instead is the money is going to the banks says george hamon just brilliantly explained by giving it to people who have already gone plenty and or no adding to the point just think going into the economy there is one caviar though that maybe george can comment on it weve got time. That weve had since 2008 has not lead to inflation interesting in theory if you print money then youre going to get inflation that was and theres a lot to both law until know how doesnt happen in practice thats why the q. E. Can become very addictive gammon can you do that in 20 seconds. Sure well the reason we didnt get inflation is because the only thing they printed was Bank Reserves that stayed in the financial economy it didnt get into the real economy so now what were talking about helicopter money is the money getting into the real system circulating with velocity well the same time the amount of goods and services shrinks theres thats where you get the inflation that i think watch speech counterproductive if youre looking to try to help the average joe and jane you cant say we dont have smart people here on this newscast to bring you developments of whats going on in the world my thanks to both georges gentlemen look forward to seeing you again for. By the way this is the news im rick sanchez and youre watching our special coverage of whats going on around the world and the latest has to do with a new illness thats affecting children that may be affecting maybe tied at 19 were all over it thats coming up next dont go away. Bank. Tower read out read i turn on the t. V. On the about the world of whats happening around me i see shows on the screens but in last every day because the fake news narratives that a state lead to maybe going slow build enough business with farm after clark brick by brick school to listen to make you smile how plenty off that in this war but i found a network that will question science breakthroughs that space civil strife Climate Change stop it will be a cool simplied lists all the mainstream wants to do was keep us quiet you watch the right you cant keep a silence critical poissy is told to spake few question inside direct we dont take sides we walk the dog our t. V. America of me real talk. You cannot be both with me yeah you know what. Im holland cook i invite you to climb with me above the main stream media empire and from that higher fan to glimpse the big picture question more. What about coverage sanchez it is a were focusing on the day we just told you a little while ago whats going on with main street versus wall street whos getting was meanwhile theres another group thats just shoveling on the u. S. Capitol today the bit that theyre demanding well not to be left out yesterday we told you how hundreds of independent truckers fully loaded with their rigs came to washington to complain about how the big syndicates are getting bailed out but not them today theres yet another group kind of arguing in the same form for more on that lets go live once again to our correspondent. Who is joining us from the streets of washington d. C. Who know what they want to show. Rick were talking about motor coaches these buses im at the motor coaches rolling for awareness rally and about 1000 buses are circling the capital right now they came from all over the country taxes so high oh california new jersey and they have a very specific demand they want 15000000000. 00 and they want it from the federal government in the form of loan guarantees and grants now as you know the response the coven out in 1000 outbreak has really caused this kind of bus travel to you know all but halted right so as a result the industry has been for actually decimated these motor Coach Companies say that over 80 percent of their trips have either been canceled or simply not booked to begin with and about 90 percent of the industry is 8100000 workers have been laid off 90 percent so like i said the industry has been virtually decimated and some of these Bus Operators are saying that coming here is really about them fighting to stay alive now you may know motor coaches in terms of tourism but they also transport essential workers they transport the u. S. Military they transport fema sports teams school kids you know all the people that we dont even think about moving back and forth across the country in fact the u. S. Bus industry moves over 600000000 people each year see. 100000000. 00 now i want to throw another number at you ok 700000000. 00 thats how much the Airline Industry transports each year so theyve got about 100000000. 00 more people but theyve also got a 25 1000000000. 00 bailout from the federal government in april so what these Bus Operators and these companies are saying is that they also need federal assistance but theyre actually being left out and i want to zoom out and take a look at the big picture for a minute here at least in terms of the United States now the red states that youre about to see are the states where there are still locked down policies in place either have shelter in place orders or they have stay at home orders now in the green states theres no state wide nationwide stand home order in place its either been lifted or they never had one to begin with so rick as we watch this unfold right whatever that means whether its a possible reach shutting down of the economy or whether its a long term new normal the big question is as governments not just in the United States you know enact these lockdown policies will the reopening and restructuring of society occur without some companies maybe the companies that cant afford to operate at a loss for long periods of time you know yesterday we talked about how the Restaurant Industry is seeing the more independent businesses go out of business and how the Trucking Industry is seeing these smaller firms also go out of business because they cant operate at a loss so if these Bus Operators and companies dont get some of the relief theyre asking for we might have to add them to the list of entities fighting not to go obsolete this is interesting the shows the 2nd day in a row youve got to have a hit the road i know youre just blocks away from us here were in our Nations Capital with entities coming here to tell their story to say hey were being left out look at me look at me is this a trend look at me i can operate out of lust you know it certainly seems that way and li