Surveillance: The Economy is Dead, Schork Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 27 April 2020
⏱️ 36 minutes
🧾️ Download transcript
Summary
Marvin Loh, State Street Senior Global Market Strategist, says big tech stocks can maintain their competitive advantage. Rep. French Hill, Republican U.S. Representative for Arkansas's 2nd congressional district, says that not having a functioning supply chain will affect every state in the U.S. Stephen Schork, The Schork Report Founder & Editor, says the economy is dead and that we are in a great depression. Joshua Sharfstein Johns Hopkins University Bloomberg School of Public Health Vice Dean for Public Health Practice and Community Engagement, explains the best way to interpret coronavirus studies as more start coming out. Austan Goolsbee, University of Chicago Booth School of Business Professor, says historically, societies affected by plagues have taken on nationalistic behaviors.
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| 0:00.0 | Join us in New York on November 29th for the Bloomberg Canadian Finance Conference, |
| 0:04.6 | proudly sponsored by National Bank of Canada Financial Markets. |
| 0:07.8 | 2023 marks the 11 year anniversary of our Canada focused event and continues the tradition of providing timely |
| 0:13.8 | insights and actionable strategies. We'll have senior government |
| 0:17.1 | officials from Saskatchewan, Quebec, British Columbia, Alberta and Ontario as well |
| 0:21.9 | as speakers from Northland Power, World Bank, Transolta, and many more. |
| 0:26.0 | Register at Bloomberg Live.com I'm Tom Keene. |
| 0:43.5 | Daily, we bring you insight from the best |
| 0:45.9 | in economics, finance, investment, and international relations. |
| 0:49.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud Bloomberg.com. We begin the program with |
| 0:55.0 | with mauber's surveillance on the bloomer. |
| 0:57.0 | we begin the program with Marvin Lowe State Street senior global market |
| 1:01.8 | strategies mama fantastic to have you with us. |
| 1:04.2 | Let me bring this quote to our audience. |
| 1:05.6 | It comes from Goldman over the weekend. |
| 1:07.9 | The S&P 500 trades just 17% below its all-time high. |
| 1:12.1 | Median S&P 500 constituents trade 28 percent below record highs. |
| 1:18.0 | Sharp declines in market breadth in the past have often signaled large market drawdowns. Can we just start there Marvin can you |
| 1:26.0 | speak to the weakness, the market breadth, the story of the last several weeks? |
| 1:30.8 | Yeah, certainly. |
| 1:33.0 | You know, it's a bit of the story that we've had certainly since the middle of last year, where |
| 1:39.2 | a handful of, you know, growth technology stocks have driven a large part of the returns. |
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