Daily Briefing – August 3, 2020 – Downside Risk Has Not Been Fully Appreciated By Markets: Ed Harrison

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 3 August 2020

⏱️ 32 minutes

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Summary

Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to reckon with the idea of whether a COVID-19 vaccine will be the “medical bailout” everyone is staking their hopes on. Ash and Ed give an overview of where many major nations are currently in their battle against the pandemic and consider if this new normal is truly sustainable in the long-term. They also discuss the continued move toward a virtual world, how this is an omen of absolute collapse in certain industries, and how the pandemic has become a politically charged subject in the midst of a US election cycle. In the intro, Nick Correa shares some of the data from the Household Pulse Survey, revealing the ways fiscal stimulus has made up a portion of aggregate spending for American consumers. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	It's Monday,
0:02.0	Monday,
0:03.0	August 3rd, 2020, just after market closed in New York.
0:16.8	This is the Real Vision Daily Briefing.
0:19.3	I'm Ash Bennington from New York, joined shortly by our managing editor, Ed Harrison.
0:24.0	But first, with the day's stories, Nick Kurea.
0:27.0	Thanks, Ash.
0:28.0	Congress remains at odds with no extensions to enhanced unemployment benefits
0:32.0	and no agreements made on what the next
0:34.0	relief bill will shape up to be. Some Republican lawmakers throughout the past
0:37.9	week have offered a piecemeal approach through passing smaller bills in
0:41.4	order to reinstate programs like enhanced benefits.
0:44.8	However, this has been rejected by Democrats who are more in favor of a comprehensive bill.
0:50.2	Coming to a consensus on the new bill still seems to be out of reach.
0:54.4	With enhanced benefits having officially passed an end date on Friday,
0:57.8	let's consider what might be at stake and what might show up in the data in the coming weeks.
1:02.4	The household Pulse survey led by the census. what might show up in the data in the coming weeks.
1:02.7	The Household Pulse Survey, led by the Census Bureau,
1:05.9	is a measure of how households are fairing
1:08.1	during the coronavirus pandemic.
1:10.0	In week seven of their data collection,
1:12.1	which would account for the week June 11th through the 16th,
	...

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