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Armstrong & Getty On Demand

Old Biddies

Armstrong & Getty On Demand

iHeartPodcasts

Daily News, Society & Culture, News

4.63.5K Ratings

🗓️ 23 March 2020

⏱️ 37 minutes

🧾️ Download transcript

Summary

Hour 3 of A&G features more on the troubling prospect of a major recession. Plus, Joe explains lipids and Italy's big problems due to their embrace of China.

Transcript

Click on a timestamp to play from that location

0:00.0

Music

0:24.9

Can you characterize everything that the Fed has done this past week as essentially flooding the system with money?

0:31.9

Yes, exactly. And there's no end to your ability to do that.

0:35.9

There is no end to our ability to do that. Are you optimistic or pessimistic?

0:40.9

Overall I'm optimistic. Having been through the... I've been in the front line of the 2008 financial crisis and I saw how devastating that was, we did get through it.

0:49.9

It was very painful for millions of Americans. We did get through it. We will get through this crisis.

0:55.9

From 60 minutes last night after 72 hours of taking in negative news, somewhat realistic I'm sure, but negative news about the virus and the economy.

1:08.9

Neil Cash-Kari on 60 minutes last night was pretty optimistic. And I like that first thing he said and he explains why we're going to flood the market with money. Can we keep that up? Absolutely we can.

1:19.9

We're such a powerful economy, an economic engine. We can just overwhelm the whole thing with money and then catch up once things get back to normal.

1:31.9

We're telling our debt is so good, that's the key to it. If America ever says, hey, can I borrow 100 bucks? Every country, every investor, every bank on earth says, yeah sure.

1:41.9

Yeah, there's nobody in the world that's really good. They say, no, but that's often the distance for now.

1:46.9

At least for now, nobody in the world is going to think America is going to collapse. They're going to default on their debt.

1:52.9

No, they'll be back fine. And here's a great opportunity to get in on a great deal. This is a place.

1:58.9

So, this is when we like Bernie Sanders squelch on it all.

2:03.9

But that was the first, I was happy 60 minutes did that. He got a guy on talking super positive about the economic situation. Yeah, I thought that was great.

2:14.9

Yeah, I'm pretty positive. And their first story about the chasing down a cure and all that sort of stuff.

2:20.9

I'm looking forward to watching that on the DVR. I was zooming back and forth to the airport fairly late last night as our college kid, Delaney is home from well, the empty campus at this point.

2:31.9

And her internship and her job and her friends and the rest of it, which is all just kind of ground to a halt. So finally, she said, yeah, I guess I'll come home.

2:40.9

It was funny. She's dislocated. She's unhappy. She's thrown for loop like rest of us and said, I don't want you to misunderstand. I'm happy to see you guys.

2:47.9

But I said, trust me. I'm 20 years old. I'm in the middle of my junior year of college. I'm taking classes. I'm playing in my rock and roll band. I'm partying. I got a part time job. I got it going on. Somebody tells me you got to go home now and live with your mom and dad. Yeah, trust me sweetheart. I know. So anyway, it's affected us all. And these are wacky times. But I will remind you, my friends. This two shall pass. We will soon.

3:13.9

Look back on this and say, wow, that was crazy. Meanwhile, in the capital, our brave defenders and government are trying to make sure that it's merely crazy and wild. And could you believe that and not just financially ruin us for all of us.

3:28.9

And whether they do it right or not, we'll have to see.

...

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