The Young Turks - TYT Extended Clip - March 16th, 2020

Episode Date: March 16, 2020

The economy is in the toilet. Ana Kasparian, Brett Erlich, and Jayar Jackson, hosts of The Young Turks, break it   Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

You're listening to the Young Turks, the online news show. Make sure to follow and rate our show with not one, not two, not three, not four, but five stars. You're awesome. Thank you. If you like the Young Turks podcast, I think you'll love a lot of the podcasts on the TYT Network. Old school, it's one of my favorites, one of the favorites for a lot of the listeners. Please check that out, subscribe, share it, that makes a big difference, and give it a five-star rating. Thank you.

What's up, everyone? Welcome to the Young Turks. I'm Anna Casparian. And today we have Brett Ehrlich and J.R. Jackson joining in on the panel. Jank Yugar is out. He has a tooth infection that he's dealing with. I love that. You just were like, hey, everybody. Because you kind of have to. Yeah. It's like, if you say it's a medical issue, they're like, oh, we absolutely went, you know, if Idraselba has it. Oh, is that why he was specific? Yeah, it's a tooth thing. He doesn't have, I don't want anyone to be afraid. His tooth got coronavirus. Sorry, as you said it, I was I was like, man, she usually wouldn't give this kind of detail as to why he's out, but then I realize why now.

Yeah, yeah. So he's okay. He doesn't have any serious issue. It's just a tooth issue that he's got to deal with. But I do want to give our audience some warning ahead of time. Clearly, the coronavirus story continues to develop. There are closures all around the country, all around the world. And this show will be impacted to some extent, but we're still going to make sure that we give

you content every single. day as we normally do. We're working on plans to, you know, limit the number of people who have to come into work in the future. This is not a definite. We might have to do our shows from our homes remotely, but we will have programming for you guys. I just want to give you that warning ahead of time just so you know what to expect. This is a rapidly developing story, and I want to make sure everyone is kind of prepared. Yeah, and also the fact that, you know, the practicing of what you preach, you know. So if, If there's a level of caution you're supposed to take or things you're supposed to do and actions you go into, we're doing those as well as much as possible, you know.

There is like a disturbing amount of hand sanitizer on pretty much every surface in the building. And I'm also disturbed by the fact that it doesn't make my hand sting. It's like environmentally conscious, not alcohol, which makes me not trust it. There's a line in a I love you man where like she's like, do you need some tombs to brush your teeth? And he's like, no, babe, I need some chemicals. And I feel like I'm at that point, and I'm like, if I'm not feeling like I'm on fire, somehow I'm failing. So I like wash, sanitize, wash.

Edwin has his own stash of like, hey, you need this? Yeah, yeah, he totally came by right before we went live. He's like, he's like, hey, hey, hey. And that's the good stuff. That stuff will let your eyebrows on fire. That's like clear the room of all matches and open flame. All right, well, we're attempting to remain in good spirits, even though this story is pretty terrifying. But it's been a big day in news.

So let's get started with an economic update, not the kind that Richard Wolf gives, unfortunately, but just an update on what's happening in the stock market. So the Federal Reserve's emergency action to lower interest rates to near 0%, the first time since 2008, by the way, did nothing to prevent yet another Wall Street plunge today. So this story has been updated since we produced it. The numbers are actually even worse than what I'm about to explain. But the Dow Jones Industrial Average sank by 2,200 points at the opening bell. By the way, as we film this video right now, it sank to 3,000 points.

With the S&P 500 and the tech heavy NASDAQ falling by around 8% each, triggering a circuit breaker. This is now the third circuit breaker that halts all trading. on the exchange floor for 15 minutes. So the Dow has fallen nearly 6,400 points since its record high on February 12th. And the chaos came just over 12 hours after the Federal Reserve unleashed a series of crisis response measures, slashing rates to almost zero, injecting cash into treasuries and announcing coordinated efforts with central banks across the world to ensure liquidity as the coronavirus pandemic takes a hold on the global economy.

Now, I'm going to go into this in an easier way to understand in just a minute. But before I do, I want to go to this SOT, this video of the president of the United States during his press conference yesterday. This is during the coronavirus task force press conference. It's meant to ease nerves, let people know what the government is doing to help them economically, but more importantly, what the government is doing to help them prevent the spread of the coronavirus. He opens it with this juvenile monologue about the Federal Reserve. Take a look.

For starters, they've lowered the Fed rate from what it was, which was one to 1.25. And it's been lowered down to 0 to 0.25, 4.25. So it's 0.2.25. That's a big difference. It's quite a bit, about a point. And in addition, very importantly, the Federal Reserve is going to be purchasing $500 billion of treasuries and $200 billion of mortgage-backed securities, and that number can increase. But they're going to start with that.

And that's really good news. It's really great for our country. It's something that we're very happy. I have to say this. I'm very happy. And they did it in one step. They didn't do it in four steps over a long period of time. They did it in one step.

And I think that people in the market should be very thrilled. And that brings us the strongest country in the world by far, financially in every other way. So that was how the press conference began yesterday. And I couldn't help but notice the facial expressions of everyone surrounding Donald Trump as he's talking about the importance of the Fed rate. because it's had really no positive impact at this point on the stock market. And that shouldn't be the opener. The stock market shouldn't be the number one priority in your press conference.

And people are really worried about their health, worried about what this means for their families, for their jobs. Yeah, okay, so before we went in that, you were saying it has to be an easy way to understand it for folks who may not know, right? So if you start your press conference when you're talking about the health and the status of our response to this pandemic, then people may tune in looking for some answers that would affect them. I get there's tons of people that are affected by what's going on in the stock market.

So I think I've underplayed that a bit in the past when I say only these top people actually care or know, have a big, it has a big effect on their lives. It has effect on a lot of people's lives. But even the people who are like, you know, middle class folks who have some stake in a stock market when it comes to things like your retirement and things like that, or just general investments you have on a smaller scale, yes, that means. something, but it doesn't mean anything if you're dead. So we see who he's addressing first because those are the most important to him. We see the type of person he is, it's been that

way since the beginning. We're not worried about containing or testing or finding a way to limit this spread. We're finding a way to make sure that we still have enough liquidity and money going to write people that we need at going to. So that's where his interest is. And he said, we're still the best in the world among this and everything else. That's his focus. He never He never not plays his card. Never doesn't play his cards right out in front of you. If you want to play poker, play it with Donald Trump. He'll tell you what he's got.

When he's got a bad hand, he'll tell you. So check this out. It's a pretty good hand, right? So this is how he approaches things, and we've seen it over and over again. So I get you're trying to do something you think is good news to start with. But his clueless and departure from reality in real America, really shows here. Like, yeah, he can't say everything about the crisis at once.

He can't, I know that, like, that's part of a press conference. And in that press conference, he also, and in other press conferences he's mentioned, I want to keep people safe. But when you, like, take the temperature of how often he should probably be saying I want people to be safe and I want people to be healthy, he, he stumbles through that. And he's not doing it enough. And it doesn't read as that's what's important. This is important to him.

He is the business president. Everyone who for hundreds and hundreds of years has said, boy, we need a business manager. And it's always a man, we need a business man in charge. We need to see what happens if we run this company like a business. Now that, and Donald Trump was that guy. Right. And he should know how to talk about this stuff. Totally, I know, like the way that he was just simply trying to communicate what the

Federal Reserve lowered the interest rate to. It was as if he doesn't know how to communicate these things at all. So near 0% 025%, that's 0.2.2. What are you talking about right now? We want to know what the government is doing when it comes to our overburdened, stressed healthcare system, right? Are we doing enough to stop the spread of coronavirus in order to prevent the health care system from being so overwhelmed and overburdened that they literally have to make decisions

about who they can and cannot treat, right? We have a shortage of medical supplies, whether it's gloves, face masks, respirators. I'm sure you guys have seen those stories. People want those issues to be addressed front and center. And he opened that press conference with this news of what the Federal Reserve did. And honestly, the Federal Reserve has exhausted their measures when it comes to stimulating the economy. And most people expected this outcome of not really helping.

Because we're having an issue with the supply side, right? Everything's shut down. So if everything's shut down, people aren't able to go to work, people aren't able to go out and buy things. There aren't products that are being produced worldwide because everything is shut down. The Federal Reserve lowering interest rates is going to do nothing to solve that. Well, again, in the history of American economics, when you lower interest rates, then there's more money flowing around and people are able to do more stuff with it. And people have said, oh, ever since 2008, when we went to zero, we've slowly raised the interest rate, but it's been, and you heard them use the term, near zero for years and years and years.

Near zero is not zero. Now it's at zero. So it was always like, listen, you know, everybody's got there, like I went out to the gas station and bought me. some spam and like some some vittles and I've got a mound on my table about this high and I can probably eat my way through it and feel pretty confident if I have a little bit left but when I take that last

slim gym out and I look down and I got nothing left then I'm going to panic. And that's what the market is doing because they know it's not over yet and they're looking at their supply of interest rate cuts and it's down to literally zero. Right. Yeah.

So that's one of the key parts of this article that stuck out to me, that's one of their main things that they use when you want to cut it to this low. So the main thing is you use when you have an incumbent that's tumbling to a recession, I think you guys already pointed out. So now there's no more options left. And I love that analogy because sometimes it needs to be put in those terms where people see things in real life situations like this where they can see, man, this is the dire straight they're at.

Now, also on top of that, let's not forget. I'm not sure if anyone else has forgotten this part. He's been demanding, begging, threatening the Fed for months, if not a year, to drop things to zero. He goes after Jerome Powell hard, yes. Hard. They did it during the Obama administration. Why did they do it during the Obama administration? For different reasons than just saving your backside from embarrassment of the way you're running the country.

So there's part of his getting this. He's like, finally, so I've been asking for. He probably thinks in the back of his mind, oh, the coronavirus came around and spread across, everyone's in a panic. Now we can finally get those federates where I wanted so it can help me out. Little did you know, that wasn't gonna work. Yeah, what's amazing is, okay, so he's only concerned about looking good for reelection and what has he constantly cited as the economy doing well, the stock market.

So once the stock market plunges, it hurts Trump in two ways. First of all, his own personal wealth, right? And I'm sure he's got money in the stock market, but more importantly, he's got a lot of debt. So lower stock, I'm sorry, lower interest rates mean that it's going to be a little easier for him to service that debt. But he's worried about reelection. And one other thing I wanted to add to this is, look, what's happening right now with the economy is bad, don't get me wrong.

But what this means for the future is far worse. Because keep in mind that one of the biggest issues with corporations is that they're over leveraged, right? And what the Federal Reserve just did wasn't just lower interest rates. Banks don't need minimum reserves, meaning liquidity, money, cash, minimum reserves anymore in order to borrow more money. Terrifying. Terrifying.

That's been like the, like that's, they've developed these protections over time because that was happening before. Exactly. So you used to say you have to have $10 in the bank to borrow $100. Now it's like, nah, here you go. That's for banks. Yeah. Right?

And they're going to protect themselves. That's the only thing. You think about banks have that, right? I want you guys to go out. I mean, don't go out. But imagine this scenario because you've been out before. Don't go out, run around the businesses. But go out and try buy a car.

Go out and try and... With no money. With no money. Right? You want a car loan. Yep. Go to a Mercedes dealership. When the guy runs up on you before you get out of your car,

when you just pull up in the front and there's three salesmen at the front of your car going and you get out and they say, what can help you out with today? It's a slow day, what's going on? What are you looking for? What you need? What you need? And you go, I'm looking for your most expensive SUV that's probably $150,000 and I don't have any money.

Lost my job. I don't have any money. And you know what? I'm not worth much of anything else either. And I have a lot of debt. Yeah. I already have a lot of debt. That's what our companies are currently.

And you go, show me, I'd like to test driving. Now, Jeeves, you know what they'll say you, get the F off of my lot. But you know what? Honestly, that's the responsible way of doing it, right? You don't give loans. to people who don't have any cash, who have a ton of debt, that's why you have credit scores. Think about it in the context, though, of these massive corporations that are already over leveraged, and we're doing away with any of the requirements necessary to determine

whether or not they should take on more debt. Just about your metaphor of people trying to buy cars, like, the government should step in for people who have bad credit scores to try to build that up. Right. And that should be the way we're looking at it now. like mom and pop shops and people that are trying to struggle to stay afloat. But the instinct of the government till now has not been that. The instinct of the government is like, yeah, let's take care of the big boys.

And that's what's so frustrating to me. So one final part of this story that I want to make sure we get to. After the Federal Reserve cut the interest rates, there was a little tiny spike in the stock market, and Trump was so proud of that spike that apparently he sent autographed charts of the stock market out. Yeah, we folks. So there's an example of it. So at the very end, you see like a little bit of a, let's go to the next graphic.

It's a big tick. Yeah, see that little tick at the very end, that's what Trump was real proud about. And that's why he gave out autographed copies of what the stock market was. Yeah, I tweeted out a little video where he's like, it's the biggest spike we've ever had. in the stock market record, record spike in the stock market. And he, and that's, his tone deafness is deafening. He's all absolutely trying to convince you that you should be over the moon with this. And I get it, he's a BS artist.

But as we learn from how he describes what's happening in the economy, how he tries to communicate the efforts taken by the economists who know more than him, he knows nothing. You know nothing, Don Slo? There's a reason, there's a reason why he ran casinos into the ground. He doesn't know how it works. He's like the guy who goes to Vegas. I got these friends. They go to Vegas and they'll spend $5,000 and lose it all.

And then on the last day, they win big and win 500 bucks. And they go, I'm back home. I got 500. I said, bro, you lost $4,500 overall. Do you not know how this works? You had this much money in your wallet. You came here, and now you've got $500 left. I think you end up upside down on this.

But that's why T.I.T. is so important because for years and years, we've been talking about how the big businesses run themselves and how they're the true beneficiaries of socialism. They're the ones that get the big handout. Donald Trump, this is proof. There's an op-ed in the LA Times or in the New York Times about the airline industry. And you can say what you want about the rest of it, but it gives you some stats about in the time when the airline industry is making record profits.

And I'm talking in 2006, they were making like $500 million in profit. And now they're making $7.6 billion in profit. They're the first one to say, hey, I'm in trouble. Give me a hand out. When in the meantime, they were doing what? Stuff you've heard on this show millions and millions of times, stock buybacks. Exactly. That's literally what they were doing.

Yes. And they aren't passing it on to their employees. In this experience with coronavirus, I know flight attendants who have said that when the flight attendants want to put gloves on to protect themselves, the airlines are like, no, we don't want to freak people out. They prioritize the way people are feeling. Guess what? Those people are already freaked out over the health and safety.

of their employees. This is how the economy works. We've been saying it for months and months and years and years. And this is where it bears out. The stock buyback programs that they underwent instead of doing what they should have done, and instead of Trump honoring the Federal Reserve as we have this 12 years of unprecedented growth saying it is time to raise the interest rates. We need some runway in case this unprecedented, we say unprecedented 12 years ends.

We need to be making more arrows. We need to be buying more slim gyms to put on the table. But they didn't do it. And now they're like, oh my gosh, it seems like I need another bailout. Who could have seen it coming? Last thing, Anna, I know we've been filibusting you on this. But there was a part of, this is an NPR article. They point out part of the problem with the stock market is that how many cities are shut down.

We know cities are shutting down restaurants and movie theaters and entertainment venues across the country. Part of that is affecting the stock market. It makes sense, right? These are the businesses that are having problems. So because of that, if you think about it, people aren't going to work. Maybe your waitresses, your delivery drivers, whatever. They're having issues with their job and their work situation.

They're losing out, so therefore the stock market is. This is such a, it highlights, it illustrates the moment so much that the stock market needs workers, right? They need people to work in these businesses, the problem of these businesses and consumers to do it so they can make it happen. When they're not there, the stock market suffers. Why is it that we're always helping out the stock market in a way, but we're obviously just working, but that's helping them out. But when it comes the other way, that never works this way.

As you mentioned, they hoard all this and bring it back in when it's something that can be actually given to your employees and make for a much more robust economy. But instead, we'll keep it to ourselves. And when workers have a problem because of something like this, we're screwed being the stock market, and we just don't know how this could have happened. Right. It's a one-way street when it comes to things that are benefiting the other. And that's why it's always been.

You're so right. There's no congressional debate about whether or not the Fed should. to do something to help like stimulate the markets, right? There was no debate about that, whereas when it comes to the average American worker and what's gonna be done for them when it comes to paid time off, there's the debate, there's the concession to what Republicans want, which is a giant loophole for massive corporations, so they don't have to pay sick time, sick pay time off, all of that. So we're gonna get to that later in the show.

But for now, we're gonna take a break. When we come back, I'll give you an update on what's how to that. happening in this country and around the world when it comes to closures and preparedness for the coronavirus. And then later in the show, we'll discuss just the different perspectives of Democrats versus Republicans when it comes to the seriousness of coronavirus. And the media is really at the heart of that story. We need to talk about a relatively new show called Un-F-The Republic or UNFTR. As a Young Turks fan, you already know that the government, the media, and corporations are constantly peddling lies that serve the interests of the rich and powerful.

But now there's a podcast dedicated to unraveling those lies, debunking the conventional wisdom. In each episode of Un-B-The-Republic or UNFTR, the host delves into a different historical episode or topic that's generally misunderstood or purposely obfuscated by the so-called powers that be. Why just survive back to school when you can thrive by creating a space that does it all for you? no matter the size. Whether you're taking over your parents' basement or moving to campus,

IKEA has hundreds of design ideas and affordable options to complement any budget. After all, you're in your small space era. It's time to own it. Shop now at IKEA.ca. Featuring in-depth research, razor-sharp commentary, and just the right amount of vulgarity,

the UNFTR podcast takes a sledgehammer to what you thought you knew about some of the nation's most sacred historical cows. But don't just take my word for it. The New York Times described UNFTR as consistently compelling and educational, aiming to challenge conventional wisdom and upend the historical narratives that were taught in school. For as the great philosopher Yoda once put it, You must unlearn what you have learned.

And that's true whether you're in Jedi training or you're uprooting and exposing all the propaganda and disinformation you've been fed over the course of your lifetime. So search for UNFDR in your podcast app today and get ready to get informed, angered, and entertained all at the same time. We're right back. Hey guys, welcome back to TYT, Anna, Brett, and J.R with you.

A few member comments and Super Chat comments. You know what? And some TYT live comments as well. Sprinkle of me. in there. By the way, Edwin, monitor, glare. I forgot to tell you earlier. Sorry about that. All right, so stiff upper lib in our member comment says, maybe there should be a two IT show with Anna at home and her special host, Christian, is that a possibility? Oh, and Charlie too. Maybe, maybe. Sometimes in the morning meetings we get a little bit. We just hear it in the

background because we do it audio. Yes, yes. We used to do the video conferencing for our production meeting. And then Christian's very sweet, always gives me a kiss before he goes to work. Another little audio. Another little thing we notice is occasionally. So if you guys do do this show from home, occasionally people will hear, Charlie, no. As a dog. Charlie, stop. That's actually something I need to do something about if we start doing the show remotely from our homes. Change my board destination says, has Jank been tested? Let's start a rumor. Jank is fine. He does not need to be tested. And by the way, obviously there are limited resources right now for people who are feeling symptoms. And so if you're not feeling symptoms, don't

overburden the health care system by just showing up and trying to take a test. Also, J.R. and I have self-diagnosed that we have it, even though we have no symptoms of it. It's the assumption just kind of has to be made because they talk how many people have our carriers. So if anything, it kind of calms you a bit to be like, okay, I'm going to stop worrying if and just assume things, but I don't know. We're lucky people. We're young and we're healthy, and so I'm not saying I'm not worried about it. I'm more worried about elderly people in our families who are much more vulnerable to this

kind of virus. Yeah, there's things like when to wear a mask, who should, in what situation, because you randomly see people with it and it gets to your head. So I get that's where some of the fear comes from. You don't know when or who, if that means they do or don't are just concerned about getting it. Super chat comment from Boba doctor says, been making calls to get all four states to postpone primaries.

This is a good topic. Unfortunately, right now, primaries are happening tomorrow. The Ohio governor was like, please, please, please, let's not. I don't know if that's tomorrow, I get a mixed up. Ohio governor has ordered that already an Arizona governor do see about to give a presser help. So who knows, things can change. But as of now, it seems like the elections will take place tomorrow.

Also on TYT Lives, Lil Sebastian says, Winner is here and we have half wit in Winterfell. Half a half wit in Winterfell. Hissy Fitz says, every time that idiot opens his mouth, part of my retirement catches fire. Just STF.U. Yeah, totally. Okay. And then finally, a few announcements, as I already mentioned, the March 17th primaries are are still set to take place.

And if they do still happen tomorrow, we will provide special election coverage. So that's Tuesday, March 17th, 8 p.m. Eastern Time, 5 p.m. Pacific. And as you can see, we have a huge panel of people joining in, including Jank, myself, Brett, Ben Mankowitz. You guys saw that. And then look, we are in questionable time to say the least. Thank you to everyone who's already contributed to our fundraising efforts. We're trying to keep TYT sustainable for the next year. And in order to do that, we need to raise a million dollars.

So far, let's take a look at the thermometer. We have raised $167,000, a little more than that. But if you could please help out, go to tyt.com slash go. Every dollar counts. We couldn't do this without you guys. So thank you. All right, well, let's move on to the rest of the news. Two of the biggest Las Vegas chains will close all hotels and casinos by tomorrow.

MGM resorts will stop casino operations today. It already shut down some slot machines. The company will start laying off workers next week. You heard that right. The company will start laying off workers next week. And look, it's not just MGM resorts that are shutting down. There are closures in pretty much every state at this point. And it is to combat the spread of coronavirus, COVID-19.

For instance, New York City will begin closing restaurants and bars Tuesday of this week, meaning tomorrow, New York, and New Jersey, New York, New Jersey, and Connecticut began banning gatherings of 50 or more as school closed, I'm sorry, gatherings of 50 or more as schools close across the region. New York City schools close indefinitely with lessons by remote learning starting next week. So that's pretty serious. Also, groceries, gas stations, pharmacies, and some other essential businesses will be allowed to remain open. But Governor Cuomo and his counterpart said there were no plans to close public transit or rail service in or between the states.

Now, that's how things are developing now. But as you guys all know, this is a quickly developing story. And sometimes decisions are made as the spread of this virus continues. I do want to go to this video of Governor Cuomo because he's calling out the federal government and its ineffectiveness in responding to the spread of coronavirus. Let's take a look. You see a whole hodgepodge of efforts being taken across the country. This state is doing this, this state is doing this, this city is doing this.

It's chaos. I think it actually feeds the feeling that the country's out of control. And there is no clear direction. And there is no clear path. California is doing this, New York is doing this, Illinois is doing this. It's the same problem across the country. The density may shift temporarily, but it is the same problem. Let the federal government say these are the guidelines.

And in reality, every state is taking matters into their own hands. The federal government has been slow to issue guidelines. In fact, the Trump administration specifically has been downplaying the impact of coronavirus in an effort to help Donald Trump bolster his reelection chances. But as of Monday, New York State had 950 confirmed coronavirus cases. And that's up from 729 on Sunday, seven people in New York have died from the virus so far. New York isn't the only state, by the way, that's made some changes. I'll give you some of the other updates in just a second.

But I want you guys to jump in first. Yeah, there's a lot about the closures, it's frustrating. But first I want to mention that first video we played of Fox News talking about the Vegas closures. Like, I know that it takes place in Vegas, but do you need to have the like hip bass line in the bottom? Boom, boom, boom, boom, boom, boom. It's just like, get there's so much tone deafness happening amid this enormous crisis. And then to Cuomo's point, he's talking about how he needs guidance. And I guess baked into the conservative ethos as states' rights and the local municipalities

should still be hands off and the states should still be hands off. But if they need to, the local situation is better equipped to handle whatever the needs of that area are. However, Trump took three huge swings at this and failed, at least. Yeah. Like the first swing he took was like, everything's fine. The second swing he took was like, no, here's what we're going to do. We're going to ban travel to spin the wheel this place. And I'm going to say six or seven things wrong about what my own policy is.

And he's been trying ever since then to actually figure out a plan of action. And unfortunately, he's just trying to save face and not fix anything for people. Right. So let me jump in on that because legally speaking, states are the one, like the states have the authority to make these changes. So the federal government can't implement these changes on their own. The states need to make these decisions. And that's the reason why you see some of the more liberal states taking the drastic

measures necessary to stop the spread of COVID-19. But it is important for the federal government to issue its own guidelines because think about the states where you have these Trump sick offense who refuse to take it seriously. seriously and they won't take it seriously until unfortunately Trump takes it seriously. So luckily his tone changed today and we'll give you some sound to kind of prove that. Luckily it appears that Trump's taking this a lot more seriously than he did before. But I think that's the reason why Cuomo was urging the federal government to issue its own guidelines. So everyone is on the same, you know, same force of action.

Yeah, at least have the same approach. But again, you're waiting for Donald Trump to get serious, which is nearly an impossible question you would like to have him do. So I think maybe Cuomo what he's looking for maybe is something more like seriousness versus a plan. If you get serious, then at least the plan will have something that states can implement in their own way. Because again, you're going to get to, there's been multiple states that are doing different

things. And we know the layout of different states is different. Different cities in those states. We have different weather issues because I was saying earlier today. been raining in L.A. lately, last several days, then it took a day off, and then it started again a little bit today. So that, in a way, I think, like, whenever we have rainy days and everything else is fine, there's no pandemic in the world. People generally stay out from outside because Angelinos are afraid of water. So it kind of, it was a built-in quarantine for

folks. It's like, it's raining and there's this. If it gets sunny, I worry that it's not going to be the same. So we know there's different things for each state, but if there's a general flat-based thing that each state can implement and take to it, that's something, at least a starting point, that I think Cuomo is looking for that. Well, let's go to the next clip, because here's Donald Trump, you know, seems like he's taking the situation a little more seriously. We'd much rather be ahead of the curve than behind it, and that's what we are. Therefore, my administration is recommending that all Americans, including the young and healthy,

work to engage in schooling from home when possible, avoid gathering in groups of more than 10 people, avoid discretionary travel, and avoid eating and drinking at bars, restaurants, and public food courts. So luckily, there's the President of the United States saying, hey, let's not get together in large groups, let's limit it to 10 people or less, try not to go to these restaurants and these bars. Luckily, several states have closed bars and restaurants. For instance, in Los Angeles, Governor Gavin Newsome has taken some drastic actions.

as the number of coronavirus cases in California rapidly escalates. Newsom is calling for all bars, wineries, and nightclubs in the state to close. Newsom is also asking all Californians age 65 and older and those with chronic conditions to isolate themselves at home. Restaurants are also shutting down, but not completely. For instance, you won't be able to go to a restaurant and eat in California, but you can deliver, order delivery or takeout. Which honestly, I think, sorry to interrupt.

Go ahead. that part, I feel like, you know, the restaurant industry that's worried, to a degree, of course, not with servers and stuff, but that's, with people being at home, I think that's going to spike with people ordering food in that, you know, maybe you're sick of whatever it is that they've gathered from the grocery store, you know. But you should know that. My sister-in-law has a couple restaurants, and she's like, she made this internet video, this Instagram post where she just says, like, it's weird because if you're a restaurant

to her, like, you're used to, like, bringing people to the same table. Like, that's your passion. That's why you do what you do to bring people together. And now it's a time when that is literally the worst thing you could possibly do. But just people out there knowing that you can order delivery that should help out. And I know her restaurant actually extended hours to be like 12 hours a day instead of just a breakfast lunch place. So that people could order and have it delivered. But yeah, you should know that that's still a possibility.

So your favorite restaurant's one way you can help them out and help yourself out. to avoid some of the grocery issues that everybody's, that are not only difficult to deal with, but also like kind of high risk in terms of being around a lot of people who are fighting in some situations over toilet paper. If you can try to order in. I know that's prohibitively expensive if you keep doing it, but that's one of the options for something. And also, just be cognizant of how we're all in this together. hit play to escape your business banking, not think about it. But what if we told you there was a way to skip over the pressures of banking? By matching with the TD Small Business Account Manager,

you can get the proactive business banking advice and support your business needs. Ready to press play? Get up to $2,700 when you open Select Small Business Banking products. Yep, that's $2,700 to turn up your business. Visit TD.com slash Small Business Match to learn more. Conditions apply. They're trying not to hoard things when you do get an opportunity to go to a grocery store. You know, everything's going to be okay if you don't have toilet paper, okay? I haven't ever used toilet paper and I'm fine. Hi-five. I don't know, maybe it's time to really rethink the American ban on bidetes, you know. I was just going to say, dude, I have one.

Go out and get one. That's what I was going to say, too. If you can again. They're kind of pricey, but yeah. All of this is, of course, with the understanding of many people don't have. the option. We, you know, so I guess across the board, disclaimer there, we understand that there's a lot of options. People don't have, many, many people in America don't have, which is, again, a problem that maybe needs to be highlighted right now, because we don't realize how many people actually live in poverty or below a level that they can do things like extra like this. In the post game today, I would like to have a more extensive

discussion on Bidase. So we will do that. But in the meantime, we got to move on to the rest of the news. So let's talk a little bit about what else Donald Trump has been up to when it comes to the response to coronavirus. Trump told a group of governors in a morning phone call that they should seek to find respirators and other vital equipment needed to treat those who have contracted coronavirus. He basically told them, if you need those respirators, it might be better for you to seek them on your own rather than try to get them through the federal government. The New York Times reported this story, and they write that respirators, ventilators, and all of the equipment

Try getting it yourselves, Trump told the governors. We will be backing you, but try getting it yourselves. Point of sales, much better, much more direct if you can get it yourself. Trump used much of the call to repeat the same upbeat rhetoric he has offered in public, assuring the governors, quote, we're going to get it remedied and hopefully very quickly. Now, part of the reason why we're experiencing widespread closures throughout the country is because we need to slow the spread of COVID-19. If we don't slow the spread, keep in mind that our health care system is not prepared to deal with

being overburdened with an influx of people who have contracted the virus. That's why it's really important to slow the spread, right? We don't have enough respirators, we don't have enough of the equipment necessary, and we're trying to do what we can to prevent people from getting it in the first place so our healthcare system isn't overburdened. I get the distribution, if you want to have the distribution of respirators, leave it to a more local system. But in terms of getting it, just the words he uses, like, try and get it on your own.

Like, I don't want to hear try to. Right. I want to hear, listen, we looked into how many respirators there are, here's where they are, here's who sells them. And we have decided that the best way for you is to call this number right here, right now, and get it done. And think about it, like, what is this unleashed? This unleash is a bunch of private companies that have a bunch of respirators.

I mean, we all saw that story, we were talking about it. That person who bought like 17,000 Purell's and is just, like, sitting on him in a bunker and has no place to sell them. Like, there will be a, there's a hoarding. I mean, that is capitalism. And you're going to have to have, like, GE, who makes respirators sit there and go, like, if I sell to California, they have a lot of people. So maybe they'll be able to drive the price down on me. Maybe I go to small states first, and they have smaller orders so I can have higher margins.

I mean, yeah, those types of decisions shouldn't be made based on profit motive. But there is a quick update to this story. During Donald Trump's press conference on coronavirus today, he was asked about this phone call and what he told governors. And one of the things that he said was it just might be easier for them to get it on their own instead of going through the federal government. And then he said, but we're ordering a lot of them. We're ordering a lot of respirators, right? First of all, every country in the world right now is ordering those respirators. So it doesn't make anyone feel better knowing that the federal government is now trying to order more respirators to ensure that we're prepared to deal with people who end up having or contracting the coronavirus.

Can I present a wild hypothesis as to why he approached it this way? Wild. So the basis of we've been coming in and saying this, if you think about it, he's saying, hey, if you can do it, get it on your own. That assumption would mean that governors of these states are just sitting there, twiddling their thumbs, going, I don't know how or what I'm going to do because that's what he does. So when you're, he's like, maybe you guys should spring into action. There's these things called respirators.

And I heard that it's one of the things that are necessary for this whole thing. So if you can, go try and find them on your own before we do anything. We'll back you. Mac you, meaning what? There's no concrete. There's nothing concrete behind it. Anna, I interjected when you point out, you said he said a lot. What's that number?

If you have a task force that's looking for a way to remedy this situation or quell it or treat enough people, usually you have specific numbers. If you're a math and science person, you're looking for a task and get to the end of it, there's no scientist that's going to say, so there's about this many things and this whole petri dish and the guys who are developing, trying to develop a vaccine that have gotten somewhat close. I'm sure they're not looking at whatever research they're doing and going, there's a lot here. No, they're giving you something specific and they're actually determining something definite because there needs to be a precise thing to get something done. He's already been clear in saying that he doesn't take responsibility for anything. That was a huge story last week. But just to further, you know, like just double down on that, he keeps going back to the Obama administration.

So during the same press conference, he said, you know, the first. following about Obama, according to the New York Times, without directly faulting Obama, he said, quote, we broke down a system that was broken, very badly broken, and vowed to create one that, quote, I think is going to be the talk of the world. Oh, we're the talk of the world, all right, just not in the way that he's hoping, that's for sure. Notorious. They're still talking about you, but not the way you think, bud.

Now I think this is the story of his life in his biggest fear. I think it's going to be the talk of the world based on what? because of what, because what will happen. If you think someone's going to be to talk to the world and you've got something figured out, you might say what that is. Or if you don't, you won't like he didn't. Let's go to break. But when we come back, we'll talk a little bit about how Trump attempted to gain

exclusive rights to the coronavirus vaccine. That story is, I can't even tell you how much shame I feel knowing that this man represents us. And I apologize to the world that he is unfortunately in power here. And then later we'll also talk a little bit about, what was that story? You know, Republicans fearmongered a lot about death panels when it came to the Affordable Care Act. Turns out under the Trump administration, death panels are a thing. And we'll talk about that in greater detail. At TYT, we frequently talk about all the ways that big tech companies are taking control of our online lives.

constantly monitoring us and storing and selling our data. But that doesn't mean we have to let them. It's possible to stay anonymous online and hide your data from the prying eyes of big tech. And one of the best ways is with ExpressVPN. ExpressVPN hides your IP address, making your active ID more difficult to trace and sell the advertisers. ExpressVPN also encrypts 100% of your network data to protect you from eavesdroppers and cyber criminals. And it's also easy to install. A single mouse click protects all your devices.

But listen, guys, this is important. ExpressVPN is rated number one by CNET and Wired magazine. So take back control of your life online and secure your data with a top VPN solution available, ExpressVPN. And if you go to ExpressVPN.com slash T-Y-T, you can get three extra months for free with this exclusive link just for T-Y-T fans. That's E-X-P-R-E-S-S-V-N dot com slash T-YT. Check it out today. We hope you're enjoying this free clip from the Young Turks. We want to get the whole show and more exclusive content while supporting independent media, become a member at t-y-t.com slash join today. In the meantime, enjoy this free segment.

What's up, everyone? Welcome back to TYT. Let's go through member comments, rapid fire. Anna and Emma's margarita salt says, look back over the years and notice how each president comforts the public. What did they have in common? They basically said, I'm on the case, we've got your back, don't panic, we stand together. Trump's mindset, it's not my fault, I have no responsibilities. He's a disgrace, absolutely. So Falia says, talk to my best friend in France a couple of hours ago. She just came back from the supermarket, they're on lockdown, and military is in charge.

She also said, despite the government warnings, some yellow jackets protests went on Saturday in, yeah, that they're still protesting. Don't protest. By the way, I also just read an update from France indicating that they're going to make certain utilities free for the public, for the time being. I'll read more details into that story and update you guys. Free and not building. Like electricity and stuff.

But it's not like a building bill. Like your bill isn't just suspended and then we're building up this bill for you. We're making this bill larger the way Edwin, our stage manager, pointed out to us earlier, That actual, there's free, and then there's, we'll wait and charge you later. Right, exactly, yeah. And then from the super chat comments, Kelly H says, have been a paid member for years and have been eagerly looking forward to your coverage, especially this past weekend. Thank you for all that you do.

Kelly, thank you so much. And thank you to everyone who supports the show, both by watching and also by, you know, donating, becoming members. We're able to do this because of you, so thank you. And for all those TYT fans with the massive stock portfolios, If your stock isn't going so well right now and you don't want to donate financially, you can always ring the bell if you're watching YouTube. It makes sure that you can grow viewership for us because you will get notified when we upload a video.

So that you know, because otherwise they just don't tell you. You can ring my bell. Thank you for not singing. There's a whole song about it, okay? All right, well, let's move on to some more serious news about the coronavirus. Donald Trump attempted to persuade a German company developing a vaccine for coronavirus to move its research to the United States and possibly to make the vaccine exclusive to U.S. citizens.

This is a disgusting story, if it is true. There is a question mark about whether or not Trump wanted this vaccine to be exclusively available to Americans, but let me give you the details you can judge for yourselves. To me, it's not that far-fetched for Trump to push for something like this. Now, the offer arose from a March 2nd meeting at the White House that included the chief executive of the German firm Kurevac. Four days ago, Kurevac announced that the head of the company, his name is Daniel Menichella, an American, was leaving the biotechnology company, which he had headed for two years.

The announcement gave no reason for his sudden departure and said, one of the firm's founders would succeed him. Now, here's what's important to keep in mind, okay? There are officials within this company who are saying that Donald Trump had offered a billion dollars for this company to move to the United States and develop the vaccine in the United States and make it exclusive, at least in the beginning to make it only available to Americans. Now, two senior American officials said that some of the German news accounts first reporting

the story were overblown. So they didn't deny it. They said it's overblown, particularly with regard to any effort by the United States to secure exclusive access to a vaccine. Another official who asked not to be identified because he's not authorized to speak to the media said the company was offered a large sum of money. So Trump offered Kurevak roughly $1 billion in exchange for exclusive access to the vaccine. The newspaper quoted an unnamed German government source who said Trump wanted the resulting vaccine only for the United States. I'm currently rewatching the Sopranos and frequently there's like a present given by the mobster to the loved one and the loved one. And that's what this sounds like to me. It's like he wants to go

buy the company and give something nice to the Americans. But then there's always that scene where they're like, did you buy this ring for me or did you steal this ring? Did you kill someone to steal this ring? Because that's kind of what Trump would be doing, would be like, in effect, killing Germans, which were about 80 years past that. So that you can like do this thing that what is not lost on all of us is like, what about the collaborative effort that should be on a global scale like the virus itself to try to stop the virus? Right, exactly.

You're not going to be able to stop the virus if the vaccine is only available to one country or to a small group of people. Or it is a global effort. And like what is he trying to do here? Goes back to his motivations. I feel like I said every day now. There's things that he showed us and revealed to us when he's run for president that let us know who he was going to be and how he would approach things.

This is one of them. So how many times we see America first, America first, America first, America first. So to the majority of Americans, that doesn't say. sound bad because, of course, we care about ourselves, right? But when you have an insane person like this, it goes to, I would do anything to make myself look better in the name of Americans when a reality is just about me. So when he wants to bring in and bring in this vaccine strictly to the United States either be for profit or for just bragging purposes to say Americans have it, then that's not addressing the problem. And it makes you forget that this is not just

a problem you need to solve in the United States, and therefore it's over. But if you're, if your outreach to the world limits yourself there unless you have some kind of money available, money making scheme somewhere else, then that's your motivation. And then when you do things, they end up not actually working. Right. And from my perspective, as someone who uses prescription drugs when necessary, and only when necessary, I don't want American pharmaceutical companies to own the patents on pretty much anything. Because I'd rather they stay in Germany because maybe there's an outside chance that they offer me the same price that they offer the German people.

If we get that company to the United States, I don't have any confidence that we will develop the vaccine any faster than them. And that's not even in Trump's plan. What I do have confidence in is that we will have to pay more for it than we would have had it stayed in Germany in the first place. Maybe we can say, America. Well, I leave you with this, and it's a great quote by a German lawmaker in regard to this story, he said the following, the exclusive sale of a possible vaccine to the United

States must be prevented by all means. Capitalism has limits. It sure does. The limit does not exist. The limit does not exist. All right, well, let's move on to another story. And this is really something to keep in mind, as we're told over and over again, that the United States has the best health care system in the world. Even in a privatized, profit-driven system like ours, it has significant downfalls, and you're about to hear it right now. Surgery's and other medical procedures are being postponed indefinitely in order to free up space in the health care system for patients who have contracted coronavirus. Coronavirus is already overwhelming the U.S. healthcare system as it is in other countries.

And so some people, including those who have early stage cancer, are being told your surgery is postponed, and we don't know when we're going to be able to get to you. This is real, this is serious, and there are hospitals throughout the country right now who are making incredibly difficult decisions on who to prioritize. So we have this statement. We recognize, based on current data, that our local COVID-19 trajectory, is likely to be similar to that of northern Italy, read an email, one hospital in the Seattle area sent to its surgeons.

While our supplies may be sufficient today, we are practicing the responsible allocation of those resources that will be necessary to continue our care into the future we have yet to see. So to give you one specific example that was profiled in this New York Times piece, there's a woman named Alison Kruppnick, who has... early stage cervical cancer. She was scheduled to have the cancer removed. And look, the most important thing in surviving cancer is to catch it early and to do something about it early, clearly. And her cancer surgery has been postponed indefinitely. And she was told,

we don't know when we're going to be able to get to you, basically. And that is terrifying. The hospitals are following new recommendations from the CDC, advising hospitals, in and around Seattle, New Rochelle, New York, and Santa Clara, California, which have seen the most serious outbreaks to cancel elective procedures. The guidelines said hospitals in Florida and Massachusetts should consider doing the same. Right. This is a tough one because it just, it puts into perspective the unforeseen and I guess not necessarily like intuitive victims of the coronavirus, I get elective surgery.

And when I like cosmetic surgery, when it's not medically necessary, sure, and all that. But this just puts in perspective how serious it is. Like early stage cervical cancer is like the kind of thing that you absolutely need to be monitoring at all times. And it's just like these are the real life decisions that have to be made. And that means it's all the more necessary to address the situation quickly. and efficiently, and unfortunately, that just doesn't seem to be happening in the Oval Office. However, I do see, like, there are six Bay Area counties who put mandatory guideline that recommendations that people shelter in place, and that's where Santa Clara, California is.

Yeah, it's, I thought about this just, like, I think over the weekend before this happened, I was thinking, man, what if someone has a stroke, heart attacks, you know, those things happen all the time. Right. And I forgot for a second about it. I'm thinking, oh, hospitals overrun, healthcare professionals, from doctors to nurses, to anyone that's there, those are humans. And then they go home, and they've got families.

And then how much is it affecting them? What kind of hours are they working? What is their level of mental capacity to continue to do these things? And then on top of this, this is just dealing with the COVID-19 thing going on. Then what if something else comes in? We've always had our emergency rooms overrun at certain times with things. People come with accidents, and then you need a major surgery. How many people really available for these things?

and if you happen to find yourself in that situation, how much help can you really get by no fault of these humans alone? It's one of those things they have to deal with. And again, this is why you have to have people that foresee the problem or see the problem happening at the beginning like it was and go, let's put in some safeguards to protect. And if say it wasn't as bad as it end up being, hey, there's this weird term, this old-school term

that's called Ready to Be Safe Than Sorry. And if you actually overdo it in the beginning to make sure it doesn't get anywhere, You don't see it come. That's worth it. And Dr. Fauci was during the press conference today, was saying, listen, where you see the results right now in terms of testing and cases and diagnoses, we are very likely past that. What you're seeing is, is what the reality of the situation is further along on the curve

than what we're seeing right now just because of how long it takes to take tests. Exactly. So just underscoring J.R's points. Yeah. And, you know, one thing I wanted to bring up is Italy's been in the news for obvious reasons because their health care system is overburdened right now. And people keep trying to make this point about, oh, you see government provided health care is a disaster.

No, it has nothing to do with their universal health care system. It has everything to do with the fact that they didn't act ahead of time, right? Kind of like here in the United States. And even in our privatized model, our profit-driven model, we're very much concerned that that our healthcare system is gonna be overwhelmed with patients who have contracted this virus. And remember, we haven't done the appropriate testing yet. So we don't even know if the worst is yet to come, right? I mean, after the tests are widely available, the numbers are certainly gonna go up.

We're gonna know, we're gonna have a better sense of how many people have it. And I just wanna give you a little more about what these doctors are dealing with. And my heart goes out to these doctors and nurses, and also to the patients. who are being turned away right now, one doctor from the Swedish Medical Center, which is in Seattle, not in Sweden, said the following, the gray area are the cancer patients. Slow-growing cancers like prostate and cervical cancer were more likely to be delayed. On Friday, the first day of widespread deferrals, Swedish Medical Center in Seattle performed about 20% as many surgeries as is typical.

Also, doctors at Evergreen Health, whose hospital in Kirkland, Washington has become or born the brunt of the pandemic like no other in America, canceled more than 30 procedures planned for Friday alone. And so the officials within these hospitals have to get together and make these difficult decisions together. There was one case of a man who had prostate cancer. They decided to postpone his surgery, and then later they changed their minds. So, you know, there was all this fearmongering about so-called death panels when Obama was

trying to get the Affordable Care Act accomplished, these are actual panels of health care professionals who have to make these difficult decisions right now because of this virus spreading rapidly. That's based off of how it's spread. Now we're thrown into, you mentioned the profit-based system we have, and we always know what profit-based systems is based off of our health care system. We know that it's based off of whether or not they're going to make money off it. That's what profit-based is. That's what capitalism is about.

So if you add that to the mix, it makes it even worse. We already have discrepancies and choosing winners and losers, if you want to use that term, when it comes to our health care system. Elizabeth Warren was rail on this for a while. There's certain people that just don't get the same kind of care because of the approach that we have with certain members of society. Some are more important than others. We got two minimum, two NBA players that have been diagnosed, right? They're rich, they're famous. We can't see anything happen to them.

They both talked about how they get the best exquisite care available. And they are because they're more important than other people in our society. That's how our system works. And that's how it works. And if you add the profit base to it, they'd be like, hey, there's a couple of millionaires who work for a billionaire and they need to continue to make that money. Let's take care of them first because that's a better model for who you're treating. Yeah.

All right, we've got to take a break. When we come back, we'll talk a little bit about what Congress has done to help American workers. And there's a giant loophole, of course. So we'll talk about that. And more when we return. Thanks for listening to the full episode of the Young Turks. Support our work, listen to ad-free, access members-only bonus content, and more by subscribing to Apple Podcasts at apple.com slash t-y-t.

I'm your host, Shank Yugar, and I'll see you soon.