Slate Money - Banana Disruptions
Slate News
Slate Podcasts
4.5 • 6K Ratings
🗓️ 4 April 2020
⏱️ 41 minutes
🧾️ Download transcript
Summary
Felix, Anna and Emily discuss the issue of small business loans in the stimulus bill, why the toilet paper shortage might not be overhyped and Trump’s oil tweet which is quite possibly the most market moving tweet ever.
“What Everyone’s Getting Wrong About the Toilet Paper Shortage,” by Will Oremus in Medium
“Trump’s Labor Department Takes A Hacksaw To Coronavirus Paid Sick Leave” by Emily Peck in the Huffington Post.
In the Slate Plus segment: The ad market during the COVID-19 pandemic.
Email: slatemoney@slate.com
Twitter: @felixsalmon, @Three_Guineas, @EmilyRPeck
Podcast production by Jessamine Molli.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Hello and welcome to the banana disruptions edition of Slate Money or guide to the business and finance news of the week. |
| 0:20.5 | I'm Felix Salmon of Axios. |
| 0:22.5 | Emily Peck is here from Huff Post. Hello. And the Shamansky is here from Breaking Views. |
| 0:27.7 | Hello. We have been disrupted. Well, we tried to do our little disrupting thing by doing |
| 0:34.8 | a COVID special 15 minute show on Wednesdays, but we've been disrupted by |
| 0:40.9 | the ad market. So no more COVID shows on Wednesdays. We're going to talk a little bit about why |
| 0:46.6 | that is in Slate Plus. We are going to talk about disruption to supply chains, not just in bananas, but also much more importantly |
| 0:55.6 | in toilet paper. That's coming up on this show. We are going to talk about the oil market |
| 1:00.9 | and Trump tweets, but I think we are going to start with the massive stimulus bill and the |
| 1:09.5 | small business money that is not going out to small businesses |
| 1:13.3 | nearly as efficiently as people had hoped that it would. All of that coming up on slate money. |
| 1:22.0 | So let's start with what is for me the centerpiece of the two trillion dollar stimulus package, which is the |
| 1:29.7 | $350 billion that is going to small businesses, much if not most of which is going to wind up |
| 1:38.0 | going straight to those small businesses in the form of loan forgiveness. You're a small business, |
| 1:43.0 | you apply for a loan, |
| 1:44.5 | you can get two and a half months of payroll and rent and utilities. And then as long as you |
| 1:49.1 | keep those staff members on payroll, you can get that loan forgiven. So this is not a Fed liquidity |
| 1:57.1 | thing. This isn't a low interest loan thing. This is basically a grant dressed up as a loan. |
| 2:01.8 | And it's super important for keeping millions of small businesses in business. And Emily, |
| 2:08.9 | how's that going? Yeah, it's not going great, Felix. It's not going great. It was supposed to start |
| 2:15.3 | Friday, but by Thursday, banks were going public with their |
| 2:19.6 | complaints saying they haven't gotten enough guidance to know how to actually do this. They don't |
... |
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