Transcripts For MSNBCW MSNBC Live With Ali Velshi 20200309 :

MSNBCW MSNBC Live With Ali Velshi March 9, 2020

Indexes are down more than 6 . Stocks cratered after oil prices plunged more than 20 because of fears of an Oil Price War between russia and saudi. Now, the saudis wanted to cut oil production, but they reversed course, after russia balked at the move and decided to flood the market with more oil. Now, the s p 500 fell more than 7 after the opening bell this morning, tripping a Circuit Breaker. Thats what its called. It halted trading on all three indexes for 15 minutes. The shock, as you can see there, alarming. Cnbc reports that President Trump will meet with wall street executives later this week to talk about the response to the coronavirus. But i want to get to nbcs Erin Mclaughlin whos joining us now from the port of oakland. Has been following this ship for quite some time. Erin, there are so many passengers onboard right now that want to get off that ship as it comes into dock at oakland. Bring us up to date as to what youve been seeing so far. Reporter hey, yasmin, thats right. Over 3,500 people have been waiting for this moment since wednesday. You can see just behind me, the grand princess slowly making its way into the port of oakland. This is not something that we see here in oakland every day. This is a port thats equipped to handle cargo ships, not cruise ships. But authorities have chosen this as the best location for the grand princess to dock, given the nature of the situation. Its close to the oakland airport, close to travis air base, where many passenger of the passengers will be going and its also an area where they can set up an Effective Security barrier. Because the security of the passengers is a paramount concern. I can tell you onboard the ship right now, ive been texting back and forth with some passengers. Chris hall has been telling me, hes so excited you can hear people on their balconies cheering and waving. He said hes received a warm welcome from oakland. And for him, this is really a step towards certainty. And this has been an incredible uncertain process. Hes from kentucky. He says hes still not sure where hes going to end up, possibly in georgia, possibly in texas. He knows hes going to have to undergo a 14day quaurrantine. He says hes currently not symptomatic. A similar story for some other passengers, some 21 people aboard the grand princess tested positive for the coronavirus. 19 of them are crew members. Now, we know in terms of how they plan to take passengers off, theyre going to be doing it in groups. Those who are symptomatic, those who are critically ill, in need of medical attention, will be taken off the vessel, first, followed by over 960 californians. The californians will be taken to military bases here in the state. And then everyone else. The crew, however, over a thousand crew members will still stay onboard in quarantine. And theyll be sent back out to sea. Their destination, at this point, unknown. Its an entire operation thats expected to last two to three days. And incredibly complex. Hey, erin, quickly, as you said, talking to some passengers onboard, i know you just spoke to a passenger a couple of hours ago, as well. Can you give us a sense of what life has been like onboard that ship since they found out that there was a passenger onboard that ship a couple of weeks ago who tested positive and consequently died from the coronavirus . Reporter i mean, it has been incredibly difficult for the passengers onboard the ship. And theres been a combination of mixed messages. At first, they were told they could leave their state rooms. Only those who had symptoms were asked to remain inside their rooms. That advice changing. Everyone has been asked to stay inside their rooms. Food delivered to their door. And just this morning, they received messages over the loud speaker that they have to wear masks anytime someone opens their door, they have to hope, wearing their masks. Theyre concerned about this. Chris in particular was telling me just this morning, he saw the coast guard ships or boats around the grand princess and he said that the coast guard wearing full hazmat suits, even though the boats were 300 to 400 meters away. So they have a lot of questions. Theres a lot of uncertainty and concern. But again, today, the fact that they are here in port, even though the process to disembark could take two to three days, the idea that they are that much closer to home is really what counts for the 3,500 people aboard the vessel right now. Were going to be watching this story as it progresses, so erin, stand by for us for now, thank you so much. I want to get to whats happening on wall street, as well. It has been quite a day for wall street. For that, i want to turn to msnbc anchor and nbc news Senior Business correspondent, stephanie ruhle, whos on the floor of the New York Stock Exchange. Wow, steph. What a day, from start to finish. You started the day with the markets opening, seeing what was happening there. Were just about 5 minutes or so from markets closing. Talk us through what youve been seeing so far here. What a day its been. You know, at the root of this has been reaction to the coronavirus. But really, in the last 24 hours, what really drove down markets is this Oil Price War between saudi arabia and russia. Its not just between those two countries, though. With oil prices plummeting, you know who that hurts . U. S. Oil producers. The city of houston is hurting today. The president came out and said, hold on a second. Lower oil prices, that means lower prices at the pump, thats a positive. Now, its a positive for some and back when we didnt produce our own oil, it was a real positive. But think about the instructions around the coronavirus. Im not saying were in italys situation with 16 Million People quarantined, but weve got more and more people across the country working from home, going to school from home, simply hunkering down. And i specifically asked gary cohn, former economic adviser to President Trump, former president of goldman sachs, how does the market price in the new reality with corona . And heres what he said. Were now seeing people trying to price in behavior based on the virus. And theyre trying to price in, what is a Company Going to earn next month or next quarter or the quarter after . How long is this going to be is this economy going to be like this . Are people going to go out and spend again . Can people go out and spend again . People that want to work, can they work . Can they actually bring home a paycheck . And if they cant bring home a paycheck, it is going to have a direct impact on the economy. Remember, weve got a servicebased economy. If people arent out there, if consumers arent spending, theres a huge impact. Yeah, thats what you and i have been talking about last week all along, and it seems like they still dont have an answer to this. It seems as though the white house is now considering a number of options, as weve seen from some reporting, to deal with these financial impacts of the coronavirus, including some of the stuff that we talked about. Paid sick leave for individuals, stimulus for affected industries, helping Companies Service some debt and waving some regulations on this. Steph, from your experience here, do you think these types of things could feasibly help, not only to calm the markets, but help peoples lives with all thats going on with regards to the coronavirus. Absolutely. Absolutely, remember last week when we saw the fed cut rates. When you see that happen, it normally gooses the markets. It didnt. It has the opposite effect. What theyre talking about now, these stimulus ideas are really meant to help whats truly broken. When you said possibly helping out companies impacted, thats whats called a bailout. If youre looking at the cruise industry or the airline industry, they absolutely need help. If you did see a bailout, dont expect to see the kind of public outrage we saw in 2008, because in this case, no ones blaming these industries for corona, but these industries are dealing with them. To specifically help individuals, we know that 70 of our lowest paid workers in the last year dont have sick leave. Went to work sick, because they didnt have any other choice. So if the Administration Starts to focus on that and really think about the economy and the real economic impact, that might not weigh so much on the markets, but it will certainly help individuals, and thats what matters most. It speaks to what gary cohn has talked about, these hourly wage workers that need help, especially when their children are having to stay home from school because theyre being shut down. Steph raul, ill check back in with you at the end. Hour. Also, President Trump here saying his administrations response to the coronavirus outbreak has been, quote, perfectly coordinated and finetuned. But he and some of his top advisers do not appear to be on the same page on a number of key issues. Watch this. Anybody right now and yesterday, anybody that needs a test gets a test. Theyre there. They have the tests. Right now, i believe 1. 1 million tests have already been sent out. By monday, therell be an additional 400,000. And by the end of next week, probably around 4 million. Ive heard very quick numbers, in a matter of months, and ive heard pretty much a year would be an outside number. A vaccine that you make and Start Testing in a year is not a vaccine thats deployable. So hes asking the question, when is it going to be deployable . And that is going to be, at the earliest, a year to a year and a half, to matter how fast you go. Well have tremendous rallies and were doing very well. And weve done a fantastic job with respect to that subject on the virus. So its our responsibility to protect the vulnerable. When i say protect, i mean, right now, not wait until things get worse, say, no large crowds, no long trips, and above all, dont get on a cruise ship. You heard it there. So ordinary americans, theyre not the only ones unnerved by these mixed messages. Nbc news that has learned that white house officials, they are frustrated by what they see as the president s consistent bids to downplay the severity of the coronavirus outbreak. Shanna pettypiece with nbc news digital coauthored that report and is joining me now. So talk us through exactly what you learned and if, in fact, they are frustrated by the president s back and forth and lack of clarity with regards to the coronavirus. Are they planning on doing anything about it . Well, to the question, are they planning to do anything about it . No. They feel like there is nothing they can do about it. That the president is, as he has said many times, his own communication adviser, his own strategic adviser, and he is going to carry on giving the message that he wants to give. And one person close to the president told us that, you know, thats because he thinks this is helping him politically. The messaging that he is putting out there. But, of course, there is major frustration withinside the white house, and clear acknowledgement that the president is on a different wavelength from the rest of his advisers. And there are many white house officials who would like to see a different message coming out. And you played those clips by tony fauci, the top Infectious Disease expert at the nih. He is giving the type of message that others in the Administration Want to see coming out, even if it does conflict with the president many times. But tony fauci, this is his lifes work, this is something he has built his entire career getting to. Hes also not going to be someone whos easily swayed to getting on to the president s message. I think this issue of mixed messages is only going to continue. Shannon pettypiece for us. Thanks. Joining us now is dr. Celine gounder. She also hosts the epidemic, an american diagnosis podcast. A great voice to have on today. As we are watching this cruise ship come into port in oakland, california, you had a lot of people on that cruise ship that are frustrated. That are scared. 21 cases confirmed of the coronavirus on that cruise ship. You have americans that are frustrated and scared, because it seems as if they are getting mixed messages from the Health Officials and the government and the trump administration. And they dont necessarily know who to believe. Does it make your job harder when you have these types of mixed messages, some of which we just played earlier . Well, it certainly does. And this is not the first time this kind of thing has happened. If you think back to the 2014 midterm elections during ebola, we had mixed messages coming from our president , not the president at the time, governor Chris Christie at the time, and we saw similar kinds of mixed messaging actually on the ground in west africa. Where you had president ial elections that were in the midst of, you know, campaigning for elections and people would say things like ebola is not real. And now youre hearing, coronavirus is a hoax. And this is really problematic, because if you want people to believe scientifically sound messages from public Health Officials, you need to let them do their work and get out of the way. Lets talk about testing here. That seems like its the key to everything, right . It seems as if the u. S. Could have had a twomonth jump on this thing, because the first cases of the coronavirus popped up in december. And yet, the testing has not been available up until the last two weeks or so. The goal was to hit a million tests, as of last friday, i believe there was only 75,000 tests available. Where are we with regards to testing and what are you most concerned about now Going Forward with testing . Well, i think, unfortunately, this is a reflection of severe budget cuts that cdc and local and state Health Departments have sustained since 2008. They have lost a quarter of their funding, over 60,000 staff across the country. So as good as the cdc is, when youre underfunded and understaffed, its going to lead to problems. Finally this week, we are starting to see scaleup of testing the private labs, like lab corps and quest are getting into the game. University of washington is doing some great stuff, thats actually about similar volumes to the private labs. So i think we finally are going to see Testing Capacity available. But as theres more tests out there and more people are going to be confirmed positive. This is exactly what we saw in china. They were changing their case definitions, so, for example, they started using ct scans and not just lab testing, we saw the numbers shoot up. What i would say is, whatever numbers you see this week, youll see a spike, probably, in the next week or two. That does not mean all of a sudden youre seeing a spike in transmission. Thats whats been there all along. And i would not let that cause people undo alarm. Should leaders be leading by example. Really no other way to say it, canceling public events, canceling rallies. Whether you are joe biden or Bernie Sanders or whether you are donald trump, the president. Should you be avoiding public venues and big crowds . Should you be practicing social distancing . A lot of schools now closing, universities. Is this the direction we should be moving . I think, absolutely, the candidates should be taking this into account as theyre planning their events. You know, you have to sort of weigh, where are you in terms of the event. So something thats happening in the kirkland, washington, area is something very different from something happening in rural montana. So this does need to be adjusted for the situation. An outdoor rally will have different sorts of risks than something indoors. But 100 this should have been taken into consideration. If you want to show your supporters you care about them, this should be priority number one. Dr. Celine gounder, thank you so much for your words on that. I want to reiterate what were watching, everybody. This cruise ship thats docking in oakland, california, thats been off the coast since thursday, about 3,500 passengers onboard, 21 confirmed coronavirus passengers there. Were going to be watching that throughout the hour as passengers there disembark and emergency crews meet them. Coming up, the battle for michigan. Were going to take a look at the two groups of voters whose support is crucial for joe biden and Bernie Sanders, as we get a new polls that gives us a clear picture of the race in that state. Plus, were going to be keeping an eye on the plunging markets throughout the hour. Youre watching msnbc. Youre watching msnbc. Whats going on . Its the 3pm slump. Should have had a p3. Oh yeah. Should have had a p3. Need energy . Get p3. With a mix of meat, cheese and nuts. Woi felt completely helpless. Hed online. My entire career and business were in jeopardy. 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It grabs peoples attention. It works. Its why Comcast Spotlight is changing its name to effectv. Because being effective means getting results. Welcome back. All eyes are on michigan with 125 delegates up for grabs. Its the biggest prize of the six States Holding primaries tomorrow. Former Vice President joe biden is looking to build on the momentum from his sweep of super tuesday states. That new Monmouth Univer

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