05-21-2020: Most Americans Describe Their Lost Jobs As Temporary Layoffs, But They Might Be Wrong -
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 21 May 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
Using historical data and survey results, the University of Chicago is predicting that 42% of all jobs lost through April will become permanent.
Today's Stocks & Topics: Savings, Commercial Real Estate, China Stock Fraud, SBUX - Starbucks Corp., LEVI - Levi Strauss & Co. Cl A, DBX - Dropbox Inc., TSLA - Tesla Inc., Securities, DIIBF - Dorel Industries Inc. Cl B, BABA - Alibaba Group Holding Ltd. ADR, SLV - iShares Silver Trust.
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Transcript
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.4 | KPP Financial, Independent thinking, shared success. |
| 0:15.0 | And now today's podcast. |
| 0:17.0 | Good afternoon fellow investors and welcome to Invest Talk. This is our |
| 0:27.1 | Thursday, May 21st 2020 edition of Invest Talk. I welcome you all. I'm glad you are going to spend this hour with me. |
| 0:36.0 | Hopefully, I'm going to do my best to move you one step closer to your goal of being a better investor, a better saver. We don't talk about that enough. |
| 0:46.2 | I know this is Invest Talk, but saving is as much, if not more important than the investing side. |
| 0:51.7 | And hopefully I can work with you on that as well. |
| 0:56.0 | I know this times are tough and the world's upside down right now, but we all have to make do, right? |
| 1:03.2 | We're all in this together. |
| 1:05.0 | And, you know, we're opening back up, |
| 1:08.3 | the world's opening back up to some degree. |
| 1:10.5 | And the big question is, what type of world do we open back up to and how does that affect |
| 1:17.0 | earnings of corporations and the economy? |
| 1:20.0 | Now we're pretty much past the first quarter earnings season, right? |
| 1:24.0 | And the end numbers are somewhere in the ballpark of negative 14% earnings growth. |
| 1:32.0 | So, and that's the worst quarter since Q3 of 2019. So clearly |
| 1:39.3 | companies are struggling and member that's the first quarter. So the three weeks of that, |
| 1:45.3 | maybe a quarter of that quarter, was this shutdown of the economy. So the second quarter is going to be probably far worse. The GDP dropped 5% in the first |
| 1:59.0 | quarter earnings dropped 14%. You're going to see GDP contract north of what's the GDP now figure? |
| 2:09.2 | I know I have the app on my phone and that's always nice to just kind of check in. |
| 2:15.6 | There's actually an iPhone app. I don't know if you know that. The Federal Reserve Bank of Atlanta |
... |
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