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tv   The News with Rick Sanchez  RT  April 13, 2020 11:00pm-11:30pm EDT

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live from the world headquarters of r t america in our nation's capital this is the news with rick sanchez everybody and here we go again i'm rick sanchez there are millions of americans who are going to be wiped out by this crisis and many if not most of the cases it's going to be through no fault of their own but you know who's not going to get wiped out if present plans continue weak companies whose revenues are in the toilet because they never planned and then ever saved for a rainy day those corporations some call them some b. corporations by the way their own by wall street hedge funds banks c.e.o.'s board members who have in many cases and by the way this is
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important in many cases they have been taking money out of their companies while they've been doing pretty well and they've been sticking it in their pockets in the form of stock buybacks much of it with money they got 5 from taxpayers government money during previous meltdowns now heaven forbid that i or anyone else should ask the question of whether some of these corporations should simply be allowed to go under is anybody asking that question yes. we found one. one maybe lonely example look what happens this is on the c.n. b.c. when a guest challenges the bailouts of their lives now remember c m b c is essentially the wall street network in fact many would argue it's
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a 24 hour commercial for bankers and hedge fund managers and c.e.o.'s and cetera look what happens when somebody is willing to make the free market argument the capitalist argument that if a company gets wiped out so be it wiped out there are you are you arguing to let airlines for example fail you know. why i mean how does that make sense in the broader scheme of of the economy could it not because it when you look at what it might i'm saying like this is the live that's been reported by wall street. when a company sales it does not fire their employees it go through a package bankruptcy right if anything what happens is the people who have the tension inside those companies the employees of these companies end up owning more of the company the people that get wiped out are the speculators that own the unsecured truncheons that that or the folks that own the equity and buy the weight
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those are the rules of the game that's right because these are the people that should be the most sophisticated investors in the world they deserve to get wiped out the employees don't get wiped out. that's a really great point bankruptcy laws generally don't allow a company to be destroyed they generally keep operating the employees usually keep working and may actually end up owning a bigger share of the company now but see n.b.c. hosts who are essentially. i mean i watch it b.c. but they're cheerleaders for wall street they're not going to tell you that they make it seem as do most of the corporate owned media in the united states like all hedge fund managers and ceo's they're just like regular folks like you and me except we don't have a mansion in the hamptons. i wasn't in the script very not like you and me. you are allowed to fail they are not allowed to fail but look out look out there
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defended let's keep let's keep watching how does anybody deserve to go i don't know what with but just be clear like who are we talking about we're talking about a hedge fund that serves a bunch of billionaire family offices who cares. i don't get why does who cares i don't get the summer in the hamptons who cares. i mean there but if you get it only got 2 months but you know you have to go into the company's own stocks i mean own their stocks own the company stocks you can you can look come bloomberg and you can see what percentage of these companies are typically owned by these beatings they're owned by blackrock the things that are owned by these huge you know a more precise organization ultimately downstream and the employee owns a few $100.00 or. but i we don't know where you stand on this and the matter is we should just explain this right because he's right the vast majority of stocks are own by about 10 percent of the u.s. population think about that 10 percent the other 90 percent is that those of the workers right and others and business networks like c. and b. c.
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and bloomberg and all the others they're out there mainly to benefit that 10 percent that's their audience that's who they're talking to right they try to hook others and using other methods but that's essentially by the way that is why a guy like this the c.e.o. will not likely be invited back to have this crowd to continue this conversation even though by the way he himself is a very successful c.e.o. why his argument doesn't fit their narrative that said mr chime of polly. you're more than welcome to come on here with us why because well we believe all sides should be heard and of course as you very well know this is the news with rick sanchez where we also think it really is. by golly time to do news again.
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here is the list of the questions we think you'll be asking tomorrow wires zombie companies getting bailed out with your government money how long it's going to take for the big apple to recover from the coronavirus pandemic is iraq right now stuck in a ongoing proxy war between the united states and iran. all this week we want you to know that we're going to be bringing you this special coverage of the corona virus as we've committed to with updates from all over the world and everything that you need to know to protect yourself and your family. you know the funny thing about the corporate class in america and the reporters who cover the corporate class in america they're constantly bragging about the free market and free market principles they talk about the virtues of capitalism they talk about the survival
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of the fittest they scoff at the notion of government programs like food stamps and welfare but when it comes to corporate welfare if you'll allow me to use that term like what happened after 911 what happened in 2008 with the meltdown and what certainly is happening right now or is the plan is to have it happening right now in a major scale well then they have a different way of looking at it or maybe a different way of explaining it like that reporter a c. a b. c. look i was shocked that somebody would say that maybe we shouldn't bail out the zombie companies joining us now the perfect guy to have this conversation with peter schiff peter owns euro pacific capital. i think here's a good way to describe peter he is a practicing libertarian. and i think there's a difference of nomenclature by the way peter let's start with what we just saw on c. and b. c. that a lot of people are talking about is. right should we let companies die.
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well 1st of all of course he is right and you know c. and b. c. acts like they've never heard this before if anybody listen to my podcast i've been saying it is day one but you know the real beneficiaries of the bankruptcies are not the employees of the companies i mean they will benefit although some of these companies in a restructured bankruptcy will end up shedding some of their workers which is a good thing because many of these companies have too many workers and in order to survive they need to be more competitive especially in demand is down and they're in the. trees but the big winners in bankruptcy are the customers you know c m b c is making it out like if we don't bail out the airlines that there is going to be no airlines if we don't bail out the hotels they'll be no hotels that's nonsense they don't blow up the hotels they don't blow up the planes what happens is in a bankruptcy new owners come in all the debt is wiped out and now you have an efficient management team with an average company that can actually lower prices so
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consumers end up with a better deal once the companies are restructured but by keeping them afloat with more dead companies are never viable and they have to keep overcharging costumers based on a government subsidy and once the government steps in and prevents them from restructuring they're going to be in constant need of additional government money so what you're saying is if we allow if we allow the process to just happen almost a law. the way things normally happen major somebody doesn't do a good job somebody else comes along and does it better and in the end everybody wins and that is what should happen but for the last 2 decades we have not allowed that to happen almost as if these c.e.o.'s are these board guys or these hedge fund guys they're the only ones in the world who have the answers and how dare us think about replacing them but your argument. if we had to let more businesses fail in 2008 than far fewer businesses would be failing now we wouldn't have created the
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moral hazard businesses would have known that there's no government to bail them out so they would have acted more responsibly and had the federal reserve not kept interest rates so low companies wouldn't have done all these buybacks they wouldn't be all levered up they would be able to withstand this temporary emergency but so would their employees don't let the workers off the hook you've got all these people who have lost their jobs who have no savings they can't make it without a paycheck because they have a. mortgage they have credit card debt they have auto loans they have student loans why is that why don't americans have any savings either that's part of the problem and nobody should be bailed out no kompany should be bailed out no individual should be bailed out everybody needs to deal with the consequences of their own actions in the case of banks for example who are having to do forbearance allowing people not the pay their mortgages that is essentially being trickled down to the
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rest of the population who are in this very difficult situation would you agree some kind of renumeration is due to those who are directly helping people like you and me. no no nobody is doing anything i have no problem with lenders and borrowers and landlords and tenants getting together and working out deals on their own but nobody should be getting a check from the government because the government doesn't have any money all the government is doing is printing money and they're destroying the value of everybody's savings look we're going to have massive inflation in this country the government is doing far more damage with the balance of the stimulus none of this money is free if you're wondering who is going to pick up the tab if you have money in the bank if you have bonds if you have a retirement account if you have savings if you have cash value in an insurance policy if you have an annuity if you have a pension you're going to get wiped out because you're going to pick up the tab because your purchasing power is going to be destroyed by all the money the fed is
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creating the 3 most important words i think it's 3 that peter just said a while ago i don't know if you've got that the government does not have any money ok it's more than 3 but those are important words think about the story of itself peter as usual it's always a pleasure thanks for being with us thanks for expressing a point of view that sometimes we don't get a chance to hear anywhere else. and we're going to continue with a lot of news including some of the latest that's going on what appears to be skirmish or maybe. in a war in iraq. you're watching our special coverage and we're going to be right back.
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the outbreak of the corona virus has become a black swan event for the global economy is no longer whether the u.s. and other economies will slip into recession the question now is how long the recession will last it's going to get worse before it gets better. the unemployment rate is not protected to reach 30 percent in america higher than the great depression the stock market's up 30 percent from recent lows and the size of the central bank balance sheet has expanded by trillions so the question is which came 1st the expansion of the central bank balance sheet or unemployment what is the cause and what is the stack as we've been saying on the show for 10 years central bank balance sheet expansion causes the unemployment because it causes the deflation that causes the economic duress that creates the unemployment.
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there is some breaking news from the northeast united states tonight 1st hospital admissions are down for the very 1st time obviously that is very good news a little too premature to be celebrating though also the governors of connecticut delaware pennsylvania new jersey rhode island and new york have created what is essentially a regional pact a regional collaboration agreement that means that they are going to decide what laws and what rules to put in place regardless by the way of what the trump administration of the federal government is recommending this is an interesting development in the story are 2 correspondent true childless has the very latest for us from new york. today a sign of hope the curve continues to flatten for the 1st time since april 7th the one day death toll falling below 700 the number of hospitalizations also decreasing
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total number of hospitalizations net. down. a little bit up a little bit down but overall just follow the line don't get caught up in the day to day but despite some signs of hope that the new corona virus infection rate is leveling off some doctors say they are still feeling that surge i heard that our volume is just exploding and we have so many people in the hallways that are off her because of that a doctor at mount sinai hospital in queens at the hardest hit borough gives us an inside look at what doctors and nurses are facing on the front lines. oxygen. more than 195 confirmed cases in new york many hospitals are still lacking p.-p. hospital beds and lifesaving ventilators one nurse blaming authorities they completely let as down the big trade as every single agency every single federal
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government does every single person that was there that was supposed to provide us what we needed that was supposed to assist us and give us support during the difficult times so that we could do what we needed to do and do it properly it's equally failed to do that the number of deaths in the state now topping 10000. new york city the epicenter of the outbreak struggling to deal with its mounting death toll at the shows creating makeshift morgues across the city while the national guard is now using rental vans to pick up hundreds of dead bodies from new york city homes to scream video shows workers in protective gear burying cova dead in mass graves on the city run hard island the island which is a burial site for families who can't afford a funeral or for people who go unclaimed by. elative is now a temporary burial site for those who lost their lives to corona virus typically about 25 bodies a week were buried on the island but now according to officials there about 24
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burials a day reporting in new york trinity chavez r.t. . well tonight the. non war in iraq sort of looks like the makings of a soon to be new war in iraq several rockets hit near an american oil field in iran last week it was followed by a bawley from the united states against iranian assets iraq which is caught in the middle of all this says it wants the united states troops out. r.t. correspondent john hardy picks up the story. while the fight against the coronavirus worldwide continues another fight also continues to brew in the middle east between the united states and iran with iraq remaining the most likely battlefield last week 5 rockets were fired at an american oil company working near basra u.s. workers had already left the area it's unclear who was behind the attack but on april 1st president trouble war and that his administration received intelligence
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that iran or one of its proxies was planning a strike on u.s. forces in iraq tweeting that if u.s. troops are attacked quote iran will pay a very heavy price indeed now the u.s. has offered $10000000.00 for information on hezbollah commander sheikh mohamed qahtani who was a close associate friend and battlefield colleague of iranian general qassim salaam ani the u.s. designated cothren e a global terrorist in 2013 the state department says it's offering money for info on his activities his networks his associates are all part of an effort to disrupt the quote financial mechanisms of hezbollah and while the coronavirus pandemic may have tempered any immediate attacks on u.s. forces the u.s. isn't taking any chances and has moved patriot missile batteries into iraq including al assad air base outside of baghdad where iran launched a ballistic missile attack on u.s. troops back in january former pentagon official michael maloof said the move is aimed at protecting u.s.
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forces and assets there but the united states appears to be consolidating its forces there to certain bases with the idea. at all timidly will move within the next what we're hearing now possibly 2 years whether or not iraq's new prime minister designate mustafa d.-mi the country's former intelligence head can bridge the ongoing hostilities in the region remains unclear he is iraq's 3rd prime minister designate in 10 weeks but he also appeared. at least for now to have support from both to iran and washington d.c. then the question will be whether huge will be able to form a cabinet and that cabinet is is going to be either the make or break. the new prime minister designate who is the 3rd person now who has been asked to form a government and the 1st to fail could be me as reportedly agreed not to interfere in the affairs of the country's various militias and that could include iran's
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proxy has a villa in the region but if his country continues to be a battlefront between the u.s. and iran he may not have a choice for the news with rick sanchez john hardy. the coronavirus to china 1st and hit it hard right it's just now the production lines plants factories are starting to reopen remember china is where the rest of the world gets everything made so when it went down things didn't get made so here's what's going on now other markets like india vietnam mexico already starting to compete with china in manufacturing because workers there get paid less that pressure on china is now being magnified by the coronavirus and the unwillingness by most big countries to get all their eggs from one china basket will this reshape the world economy. this is
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a trend story here now with our. correspondent. in madrid they're heading back to work with masks in hand while moscow streets remain virtually deserted the coronavirus reared its ugly head in different places at different times and governments are reacting accordingly china which was the 1st place to get hit hard by the virus is now seeing it significantly retract the country is leading the way for world economies trying to get back on their feet as china begins its rise again it's difficult not to notice during its pullback others were needed to fill the gaps china's rise in economic power in recent decades has been partially due to the fact that since the 1980 s. foreign companies including many listed on the fortune 500 moved their manufacturing to china this was due to china's ability to make products at a similar quality for a lower price than in the west by 2011 3rd of all manufactured products on
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earth were made in china as the country has become wealthier wages have gone up making it less competitive than in the beginning of its boom in 2016 china saw its 1st manufacturing decrease in decades and with american tariffs in the mix a drop of 7 percent was recorded in 2019 at the fact that the coronavirus of rabbits china's manufacturing industry in the 1st quarter of 2020 the country has been hit hard and with the world has realized just how reliant it has been on china from medical good spar masuda calls and even every day essentials when china stop producing shortages were felt around the globe even manufacturers outside of china or painfully delayed because parts were coming from china. in 1000 has made many realize more than ever putting all your eggs in the chinese basket may not be the way to go all things considered the country remains the world's biggest
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manufacturer but recently we've seen some gaps that needed filling the question is who could fill those gaps. recently japan invested over $2000000000.00 to move its manufacturing base out of china and bring it home while also using other asian countries to fill the void one of those countries is vietnam a nation that has greatly benefited from the rise of cost of doing business in china in the past 20 years many companies that once relied on china simply moved next door to vietnam and the need to diversify due to the coronavirus is making it even more attractive on the other side of the world mexico has been receiving billions of chinese manufacturing redirects some figures show that nearly 70 percent of u.s. companies intend to move some of their manufacturing base out of china and into mexico within the next couple of years back to asia some predict that india will be given china run for its money although primarily an agricultural society in 2014
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india began making cell phones at the time the country was making about 10000000 phones but the end of 2019 that number grew to 150000000 following that example the country which has a population of approximately one point $3000000000.00 has plenty of broom to grow when it comes to manufacturing that said now as it stands even with all the obstacles china will continue to be the world's biggest manufacturer at least for the next couple of decades the country is well aware of its position and the growth of others and cooling bills in its neighborhood this week china's premier will be attending a video meeting of leaders of the association of southeast asian nations along with japan and south korea the countries will be discussing cooperation to prevent the spread of covert $1000.00 and how to maintain economic development. it may be the leader in manufacturing today but its future he has on cooperating with others and ensuring their success as well for news with rick sanchez i'm alex myla bitch 26
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minutes after the hour time to go global coronavirus update desk with better find out what's going on what's. latest. a couple of really interesting headlines breaking today including the fact that the chinese lab that's at the center of the corona virus outbreak from han remember the whole thing started in one hand and with a lab there was apparently that lab received about $3700000.00 in grants from the united states government in the last couple of years and one of the things those grants were funding was the research being done on bats from certain caves about a 1000 miles away from bats that were transported back to that lab and then tested again this is the lab that is believed to be the starting point of the corona virus which is also believed as you know to have started from bats that were contagious that's interesting and that's causing a lot of friction now between the 2 countries because there's members of the media who are telling us that story an awful lot. saluted
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absolutely and here's another one for you know in the midst of all that's going on in the coronavirus right now they're probably the biggest concern you know from people is how long you lockdowns continue to last in the shutdowns last because money is not flowing back to these businesses that was promised to them it's kind of an incredible situation well now we're hearing this that the economy could be on lockdown what they call a rolling shutdowns for the next 18 months i'm not sure the economy can stand that 18 months spent rolling shutdowns is what they would call that in order to find hotspots and shut down in that area and how does the economy survive yeah that's the question a lot of governors are asking as well and that's a story we want to follow up on tomorrow the governors who may want to bail on this economic lockdown and the the others who want to bail on the other. health situation this is crazy but i just want to thank you so much for bringing us that that's our news thanks so much for being with us i'm rick sanchez and you know what
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we'll see again later right here and a portable that. you see there. is your media a reflection of reality. in
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folks dennis miller here just chill and isolate like the rest yeah you know for the most part it's not heavy lifting asian legal get a little anxious about it and we'll talk about that with our friend today psychiatry dr annual payment about maintaining that mental health mental hygiene in times like this he's got a new book the end of mental illness and we'll talk about it right after this on dennis miller plus one. hey folks welcome to dennis miller plus one we're doing our 1st remote hook up here so bear with us although i think the best way to do this is to go for a low tech high end guest low tech presentation and not act like we're nasa over here so joining us and i'm glad because i've interviewed this gentleman before and he's certainly a interesting look questionis matt so this will be easy for me dr heymann as the
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c.e.o. medical director of the amun clinics which has the world's largest database of brain scans he's written many books on the subject and has a new york times best selling author many times over his latest book the end of mental illness is currently available in stores and online doctoring and how are you my friend hi donna yes what a joy to see you again yeah nice to see you and i'm glad you're safe with your loved ones and all that and let's listen let's talk about practicing we were chatting before hand and i said since we're doing this and there's a bit of an overlap why don't you tell me what you'd like to talk about i love the phrase you used said tell me about practicing mental hygiene during the coronavirus expound on that. well mental height.


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