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March 23, 2020 2:24 pm
With the coronavirus still at the pandemic level, we take a took at some virus updates. Plus, how is COVID-19 affecting the economy? David Fischer of Landmark Capital Gold joins to help discuss and clarify the economical pitfall we are in; with possible recession or even depression alluded to by Bank of America.
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Thank you and God Bless
Everyone is time for this noble show where biblical Christianity meets the everyday issues of life in your home, at work, and even in politics. Steve is an ordinary man who believes in an extraordinary God it on a show, there's plenty of grace and lots of true but no sacred cow call Steve now 86 34 true 866-34-TRUTH or checking out online, Steve Noble show.com and now there's your host Steve Noble well things are going so well today was the last time it didn't go well. So that's going on.
Tensions flare on the Senate floor's coronavirus bill derailed for the second time by Democrat objections. So a lot of things going on there. McConnell was my Nancy Pelosi back from formula and stuck her nose in the Senate business with Chuck Schumer so it's kind of a big mass. The Surgeon General thing this week it's going to get bad so there's a lot of things to continue to talk about this is Steve Noble in the state militia. Welcome back will be doing well and making good choices and take care of yourself. By the way tomorrow. My good friend the Bishop Patrick a wooden senior of the upper and Church of God in Christ will be online for the first half the show tomorrow. My slightly older brother from another mother. He will be on tomorrow and I his church is been meeting on Sundays not so worried about the governor Cooper saying a keep it to a 10 people or less less than 10 people and so on. Bishop and I had a conversation this morning about the constitutionality of that request short of martial law and I were to talk about that tomorrow he's not forcing people to be there there taking precautions and changing how they do church but they are doing church most churches are not the upper room certainly is so will talk to Bishop wooden tomorrow trying to confirm actually. Interestingly enough, had Joel.
The author Joel Rosenberg set up for Wednesday. I think you still set up for Wednesday we're going to be talking about his most recent book, he of course is a prolific author, a messianic Jew, meaning he's a Jewish man that came to faith in Jesus Christ as his Lord and Savior Messiah, and so odds are he'll have plenty to say about that was going on the coronavirus and will talk to him hopefully on Wednesday and wait for confirmation on that. So plenty of things to do here this weekend. Every day is as this continues to unfold 41,901 cases of the coronavirus in America right now. Sorry. That just went up 42,032 508 deaths sorted by 1.21.3 percent death rate here in America and and that's number has shot up a lot. Okay, so we were just looking at a graph at world oh meters.info same information they're pulling it off of the CDC on March 20, just three days ago.
We are 19,383, and now were at 42,000. So we've more than doubled in two days, so if we keep doing that in two days.
It can be 80,002 days after that it would be 160,000, two days after that 320,000, two days after that 640,000 he can see where the exponential growth gets to be a problem in the reason these numbers are climbing is because now they're starting to get more testing kits out there, although that's still a big deal, but that's what's going on out there a worldwide there's still no big numbers out there worldwide were now in third place around the world, which is a great thing to be, but that's the reality. Three and 73,000 cases worldwide 16,319 deaths, and the worst places but China still number one in Italy, we just passed Spain I were at 42,000 like I just said Italy at 63,000. They had like 800 deaths. Just the other day. I think they have 600 deaths today looking at the numbers right now it's just horrific. So the question will continue to ask ourselves will talk to Bishop wooden about it tomorrow as is and Trump tweeted this yesterday is our reaction and the cost of our reaction worse than the cost of the virus itself and only time will tell me the Dow Jones industrial today. Finished up. I think down about 582 points in looking at that right now.
Get down 582 points. Another 3% off closing 18 591 so if you look at that historically go back to November 2016 right when you started the so-called Trump bumps on on November 14, 2016. We are 18 87. So were a little below that as of today, and another calling for unemployment rates north of 20 to 30% will get some new unemployment numbers this Thursday which probably are to be shocking in the question. A lot of us have is is is over the top problem to get to some of the stories today on the air and it will do it Monday Monday update with David Fisher at the last segment of the show because they were looking at a $4 trillion stimulus right now and across all different kinds of things and what second to do what's what. What where are we going that's the question where where we going with this, and I'm here at the studio on the campus of Southeastern Baptist theological seminary. Should I not come up here today you start past those types of questions in English as me and Evan is in here today.
He's not going out your pretty much stayed home all the time these days.
The up Evan with his mom's system that your dad still outlast working is outlast and we're not going many places in the noble family, my son, who works in a really really big box retailer just as was getting nervous about it and they words, telling people hey we understand and so a lot of people beginning to stay home more more often and so these things are going on around the country there big deal, and I let's make sure were praying about these things as a matter fact was put our money where my office which is pretty right quick product that we just thank you for this day thinking that you are in the throne that those of us that are in Christ.
Our future is secure in a matter what virus or what challenge befalls us or just pray for wisdom and discernment for all of our leaders, economic leaders, Lord, political leaders, medical leaders, the president for both sides of the aisle more than the Senate what they're trying to do to help people in America. We pray for an end to this virus worldwide. Pray that it would have spiritual fruit and eternal fruit that it would be a wake-up call for people not just here in America around the world. Lord help us to be part to play a part in that. And we asked that Christ's name. Amen course, continue praying for people that are sick and referred of a 29-year-old getting sick. We heard about perfectly healthy 50-year-old that got coronavirus and actually died. So this is serious stuff going on out there so this is from the article going on in the Senate. These guys can get their act together. Tensions flared in the Senate floor Monday, as lawmakers viscerally clashed on camera over phase 3, the coronavirus response package Democrats blocking Republican efforts to advance the massive stimulus bill for the second day in a row, leaving the legislation limbo once more.
The Senate stalled over the package Monday afternoon, 49 to 46 vote needed 60 votes to advance applicable cloture rule. There 6060 votes to pass anything in the Senate which I've never really agreed with Senate majority leader Mitch McConnell then stormed off the Florida Keys Democrats of mindless obstruction.
Democrats argue the more than $1 trillion package did too much for large corporations are not enough for workers but Republicans accused them of playing politics and using the crisis as leverage to train Jim through unrelated political wish list items. The country is burning in your side wants to play political games set in the Jordan with John Thune said even a Dick Durbin going to get this done today. He stood up in the middle of it all and had a chance to speak. Everyone take a breath that runs emotional today were going to get this done job you will see what happens to Steve Noble anymore to talk about will be right back and I know this is best tomorrow will have a slightly different angle on it but the thing right now is it's just unfolding in real time. We don't know where this is all going like I was saying earlier when you look at the what's happened in America just were at 42,163, and 512 deaths by the way the deaths went up by four since I started the show so that's like 15 minutes ago for more deaths recorded and how that's.you know how to collect off to the CDC, and all I can stop it if you look at the growth rate that's work it's concerning because on May March 18, for example, we had 9259 house five days ago and then on March 20 we had 19,383 I was three days ago. Then on March 21 we had 24,000 207 that was two days ago and now we've doubled that 42,163 and all keep refreshing it bring it up during the shelf 42, 163, and 512 dB 508. That's when I started the show, not that long ago. They sell the stuff happening quickly and the other side we have the economic side of it. Like I said the Dow Jones was down 3% today. 582.18, 591 is where close that which is lower than when the trunk bump started and then over to see unemployment numbers this Thursday, but there are some good things happening out there.
This was interesting. Christianity's Christian Syria. Hano and Dov Charney ever heard of him. Me either, but apparently their fashion designers and manufacturers who are literally changing their business and you see this happening.
So I think Chuck trumps doing outstanding job as a dealer business leaders because he is a business guy. So he's out there. Los Angeles apparels making surgical mask. It will on Monday begin making hospital gowns as well. Dov Charney, the company's founder and former head of American apparel hope 650,000 square-foot factory can produce 300,000 mass and 50,000 gallons a week. That's awesome. I love to see that Christians serve Syria Hano fashion designer is reassigned is 10 seamstresses in New York's of one was on a big level. This is not a small one.
Syria Hano in the middle of it there. New York renaming mass and hope to produce a few thousand a week former company.
Carla Colette always close its factory Virginia plan to retool and reopen it shortly. To help combat critical shortage of personal protective equipment that faces hospitals and healthcare workers and their doing this on their own are not being forced to do it. Trump enacted that emergency powers the other day but he's not having to use it with most of these folks.
I hope he doesn't have to use it at all, but that's that's good I love seeing that that's encouraging.
I will see what happens in the Senate Nancy Pelosi is gone for a week. Then she comes back.
Somehow she's getting in league with the Schumer Sosa they're trying to get some things in there that seem ridiculous that aren't related to it. And so you've got Ben Williamson is the cheapest after representative Mark Meadows is about to be trumps Chief of Staff. He was in a two week warranty said that the Pelosi return Washington DC on Sunday with a wish list of sun demands quote Senate spends all weekend negotiating a bipartisan deal agreement reached Pelosi flies in from California.
What's our unrelated wish list and says no Senate Democrats than vote against proceeding on a building negotiated jaw-dropping.
Williamson explained Josh brush's non-politicos put Washington bureau chief, reported that Pelosi had a laundry list of new demands including many items completely unrelated to COBIT. 19 relief like election security funding student loan debt forgiveness and host of other issues.
So they're all playing with a hot potato up there. This is what can happen November. Who knows. That's where we just need to be those of us that are believers in Jesus Christ, born-again Christians, we need to be calm.
So let's all watch our sold social media presence. What were saying our acting okay. We need to be be examples of this whole thing, but let's make sure we continue to pray for those in authority over us. Okay, the Surgeon General said that this week it's going to get bad.
This is just posted earlier today, a daily wire Surgeon General Dr. Jerome Adams on Monday warned coronavirus but in the US versus week. What I want America to understand this week it's going to get bad. Adam said you on the today show. Adam said the virus is spreading because many people, especially young people are not following federal guidelines to stay home and away from people right now. Quote there are not enough people out there who are taking this seriously. He said each and every one of us is a critical role to play in stopping the spread. Trump said that the press conference the White House briefing room, but Adam said that young people are not following the directives, noting that there packing beaches in California and swarming the national Mall in Washington DC to see the cherry blossom tree. Everyone needs to act as if they have the virus right now. He said so test or no test. We need you to understand. You could be spreading it to someone else could be getting it from someone else stay at home.
Adam said, this is how the spread is occurring. We really need everyone to stay at home.
There a lot of people who are doing the right things but I think that unfortunately are finding that a lot of people think this can happen to them.
The Surgeon General said, preventing the spread is far more important than treating the virus after people caught it, quote the other important point is that were not going to ventilator our way out of this problem were not going to treat our way out of this probably said the way you stop the spread of infectious disease likenesses with mitigation measures and preventing people from getting in the first place and and that's what we talked about previously on the show. And last, we can't do this as an ode to our elders. The older generation.
Now if you're 18 I could say that she was a bit before it all. They cut me some slack, but really where the numbers point of the biggest concerns were people are 70 or older or anybody with any kind of autoimmune problem people and chemo people with heart issues. People that aren't healthy or are older and or older are the ones we need to care about don't don't care about yourself so much leisure in that realm. Some of you are then you need to be asking the people around you to be responsible with it again this this looming question for me is how far should the government go Trump tweeted this yesterday.
Are we taking measures to to deal with this that are actually going to have worse impact than the coronavirus itself which is hard to talk like that because you are talking about human lives at some level New York City. It's a nightmare.
Coronavirus cases top 20,000 in New York, with 12,000 in New York City alone. This is from an article just a yesterday number confirm cases in the data coronavirus 20,008, 75 statewide including more than 5000 new cases today 12,305 New York City Gov. Andrew Cuomo announced Monday. Most of this was earlier today.
The rental also includes 157 deaths in the Empire State representing more than 1/3 of the foreign 63 deaths nationwide which is old information. Okay, it's old information changing all the time or at 512 deaths as of right now to help to help ease the strain in your clarity overtaxed hospital system. Cuomo announced an executive order asking registered nurses statewide list to combat the contagion.
He also is bringing up the fact that they have a hospital bed. Problem day is that another article Gov. Cuomo blast New Yorkers not taking over 19.
Seriously, it's insensitive and it's arrogant he said exactly right.
As of now. He said the numbers are continuing to increase work well what were working very hard to do is keep the rate of increase of the spread of the disease to a level that we can manage in our hospital system. We have 53,000 hospital beds available right now. The curve suggests we could be the hundred and 10,000 hospital beds and that is an obvious problem and that's what were dealing with so that's serious, very serious. Cuomo them blasted New Yorkers don't appear to taking the threat of coping 19 seriously. I was in New York City yesterday said it was a pretty day is the density level New York City that's wholly inappropriate. You would think there is nothing going on in parts of New York City you would think it was just a bright sunny Saturday. I don't know what I'm saying that people don't get normally accused of being all overly blunt and direct and I take that it's true. I don't know what they're not understanding this is not life as usual. None of this is life as usual. This kind of density we talk about social distancing. I was in these parks you would not know that anything was going on. So then the governor said is been in contact with city officials including Mayor de Blasio installed and the need to develop quote a plan to correct the situation unquote. The other element here that we all need to pay attention to is how much power and authority are we going to continue to increase that state officials scary line on the Southeastern Baptist is not a lot of activity here, but I'm here in the Evans here, and if you want to join us in the studio as a matter fact you can do that. Not personally. If you want to be so kind agreed by the gift basket or something at pricing. I leave it out of just to be safe, you can always join us on Facebook live so just go to your Facebook feed. Most of you have one of those and just go to the Steve Noble show and you can join us for hearing studio and we have outcome of a sidebar conversation. Sometimes it has something to do or talk about on the show on the air, sometimes it doesn't. But that's what happens during the commercial breaks, only listen on the radio. We tend to have a little bit of more conversation on the commercial breaks which between 4 and 5 PM Eastern time with several breaks and there obviously, and it's about 12 or 14 minutes additional content to look at that way, but would love to see you in there just of the Facebook page. The Steve Noble show and you'll be right there right here with me in the story okay so I was mentioning this for the break in many ways and would let's continue to pray for the president and all our elected officials because they obviously need it on many different levels were to talk to David Fisher in the last segment will do Monday Monday update because were looking at probably a stimulus money going in like $4 trillion or 23 and half trillion in debt right now this is all red money. By the way, it's all just adding to the debt we taken out more credit cards in our kids and grandchildren and great-grandchildren's names and that's what were to be spending for the next 12 months or 18 months or 24 months is kind of right the ship and that's the concern and we don't have the answer right now are we overreacting, certainly not New York. Certainly not in Washington there's hotspots probably not in New Jersey but in Arizona and Illinois Re: overreacting to we need to trash the entire economy first six months or 12 months, 20, 30% unemployment drop in gross domestic product in the next 2 to 3 months next quarter 20% 25%. I don't know I don't have the answers to that know we have to care about the people that are cysts that are susceptible.
I know we don't want people to die unnecessarily.
But if we could trash the economy there's going be very real costs there as well lives to go very, very difficult for one guy and all the presidential press conferences that I really appreciate is Anthony Algie. The little dude is been at this for decades. I received brilliant. I like that is very straightforward.
He just tells you the true does a pretty good job of cleaning up some of trumps masses Trump starts talking about medical things and has a good feeling about it. I'm like okay step asides are and let the people that are specialists in these areas speak and just be a great leader. Fire up the engine of America doing a great job getting business leaders and their back on cooperation. The whole of society. Cooperation. There's great. He's a CEO just run in his own business and that's why think trumps doing a great job. Now all the stuff to shake out in the laundry later will be able to pick it all the pieces and you know that will happen, but Anthony vowed she'd give a great interview this I thought this is interesting so as to share this with you science magazine. Just yesterday, how they got all of them, who knows put but I'm in a review of actual Q&A a few different questions and his answers that those fascinating, behind-the-scenes glimpse of what's going on first question everyone has is to science magazine talking to Dr. Anthony Algie how are you well. I'm sort of exhausted. But other than that I'm good.
I mean I'm not to my knowledge, coronavirus, in fact it to my knowledge, I have been fired. How you managing to not get fired.
They asked him well that's pretty interesting because to trumps credit even though we disagree on some things. He listens. He goes his own way. He has his own style, but in substantive issues. He does listen to what I say question you been in press conferences where things are happening that you disagree with is that fair to say Algie well I don't disagree in the substance watches very careful with his words are because you know dealing with the president.
I don't disagree in the substance that's expressed in a way that I would not express it because it could lead to some misunderstanding about the facts are about a given subject. So that's happened several times and he can see Kyle to come in, cleanup question, most everyone thinks that you're doing a remarkable job you're standing there as the representative of truth and facts, but things are being said, that are true in our factual Algie weight happen is that after he made that statement suggesting China would have revealed the discovery of a new coronavirus 3 to 4 months earlier. I told the appropriate people. It doesn't come comport because two or three months earlier would've been September before the virus even started the next time they sit down with him and talk about what he's going to say they will say, by the way, Mr. Pres. Be careful about this and don't say that I can't jump in front of the microphone and push them down. Okay he said it.
Let's try and get it corrected for the next time listen, I really appreciate that. Got a response is a segment he's this guy's walking on a razors edge is you deal with the present United States who we all know is gotta be one of the hardest people to deal with because it's down from day, God bless him in many ways for that and some other ways that the nightmare over this guy think is doing a great job and he just kind of dancing on a razors edge here because he's been asked flat and live press conferences and is like you know I appreciate with the presence coming from his got a good feeling about this. I'm a scientist I'm looking at the numbers I want the data and I appreciate the good feelings in the optimism, but I need to see numbers.
He does a great job then asked him I'm curious about some things that aren't happening on a national scale. One is wire shelter in place orders happening state-by-state wiring doing this sequentially is that a mistake was very important. I think this is really really well set. No, I don't think we could say it's a mistake or not a mistake.
There is a discussion in a delicate balance that Dr. Anthony Fauci about what's the overall impact of shutting everything down completely for an indefinite period of time so there's a compromise. If you knock down the economy completely disrupt infrastructure you may be causing health issues unintended consequences for people who need Bill to get the places and can't do the best you can. Dr. Anthony about you speaking, I've emphasized very emphatically every press conference at everybody in the country at a minimum should be following the fundamental guidelines elderly stay out of society and self isolation go to work. You don't have to. Yada yada yada. No bars, no restaurants, no nothing.
Only essential services when you get a place like New York or Washington or California. You got a ratcheted up but if it's but if it but it it is felt and it isn't merely speaking. It's a bunch people who make the decisions that if you lock down everything now you're going to crash the whole society so you do what you can do as best as you can do as much physical separation as you can. A ratcheted up at the places you know where at the highest risk. That's Dr. Anthony Felty day couple other questions collecting this is really helpful. Question we seen creative ideas about how to respond in other countries that we are adopting China uses thermometers and supermarkets before letting people and should we be considering that yes, of course, he said, I think the logistics of that had to be worked out that was discussed. All these things are discussed. Not all of them are implemented. Question big picture. We've had all this pandemic preparedness.
Why did this fail. What went wrong answer I think want to wait until it's over and we look back before we can answer that. It's almost like the fog of war. After the war is over. Then you look back and say well.
This plan is great as it was didn't quite work. Once I started throwing hand grenades at us truly similar to that.
Obviously testing for the new coronavirus is one clear issue that needs to be re-looked at Larry not able to mobilize in a broader scale.
I don't think we can do that right now I think is premature.
We really need to look forward okay so that's Dr. Anthony Algie, praise the Lord that he's such a great mind a great person. Great way of handling these situations right there now serving the president. This whole effort, so I really appreciate that. I think that's great. And then let's see if the exchange literally and and I would not suggest doing this money doing this because I have to get on the talk okay were still at 512 deaths in America 42,163 cases which we doubled in the last three days.
That's just unfortunately that's the curve that there talk about flattening I hear something that's really scary and will talk about money. Monday will do Monday Monday update with David Fisher because of all the were look at it like $4 trillion in stimulus will talk about that with David. This is an op-ed at the hill.
Coronavirus reveals financial irresponsibility of Americans. This house of cards. We wag our fingers of the government all the time. We need to spend some time in the mirror. How long could you sustain your household if you stop, stop earning income.
If you're like most Americans he answers. Not for long.
Only 40% of Americans can afford an unexpected thousand dollars expense with their savings fact, nearly 80% of workers are living paycheck to paycheck is no surprise that the probability of an economic recession brought on by the coronavirus pandemic caused many to worry major cities such as Boston, New York, Los Angeles, San Francisco restaurants and businesses have been ordered to close for many hourly workers. This means no paychecks in the coming weeks, almost one in five Americans already lost their jobs or have reduced hours. At the same time salaried workers are concerned about job security is mass layoffs at numerous companies. Lou occurred pant current panic is refocusing us on what is important. We now stockpile the things necessary for health, smart phones, fancy television and restaurant meals are usually luxuries, rather than necessity living within our means is not just rhetoric. It's a means of guarding ourselves during times like these, and most of us are prepared for the system. Sad but true availability of credit gave us an opportunity with great a great hangover made nice homes, flashy cars and expensive consumer products within reach for earners across income levels are purchasing on installment is often a trap, a major contributor to our Fort team trillion dollars in consumer debt. That is something else in here. Talk about people it's just people that make you know 60 7080 grand year. Many high income earners also live above their means.
Indeed, at least 1/4 of households making hundred $50,000 and above with paycheck to paycheck on many of these levels is strange that may sound, I think God for the shake because we all need to spend some time in the mirror. B. On a personal level or on a national level be asking ourselves okay. What really matters. How are we really living our lives and for us Christians what can we do for the kingdom will be right back. I'm just not going. How much time I want to spend talk about the coronavirus stuff.
I'm hoping most of you aren't looking at it reading about it listening to it is much as I am as part of my responsibility here, but I'm trying to to distill stuff down I'm trying to be serious. I'm not freaking out were being prayerful to talk about some positive things and we see them and exit just got yes so we got the confirmation we will have best-selling author Joel Rosenberg on the show on Wednesday I think is going to be with me the whole time and you know he's he's moved to Israel. He was just here.
He just I just got an email.
Joel chose to leave the US this past week and travel back on Israel he's in a mandatory core tenets sound just fine and Israel lock your meeting down a couple weeks ago. No inner out. Note nobody come in from foreign countries get in there without all kinds of stuff. So that'll be awesome and I was going to get his insight on the outbreak and he's been sharing his journey in all of this in his newest book, the Jerusalem assassin will talk about that as well. That'll just be awesome. I met him and listen to them for about an hour and 1/2 and we are Israel last fall. You will be blessed and credible author incredible story in a messianic Jew, meaning he grew up Jewish and the Jewish faith, and then met Jesus is Lord Messiah became a born-again Christian. So that'll be awesome.
But today, let's turn the corner talk, our good friend David Fisher from La Marque, M. R. Gold.com, which must be a very interesting season for you. All is well. David, how are you buddy. Thanks for calling it a great extremely unusual you not just sort of the world is really going through special when it comes to financial matters. Very unique very different now. Yeah just just amazing. So before we dive in the next will talk about the markets in the recession and what does all the talking trillions of dollars at the federal government is as up and cranking into the into the economy. But before we do that, let's start where we deftly should start, especially the way things are going today. Let's start Scripture. Thanks for always leaving us and go ahead. Remember, chapter 6, verse 24 through 26 Reno Scripture the Lord bless you and keep you in the Lord make his face shine upon you and be gracious to you with the Lord turn his face toward you and keep you so welcome. Think of the blessings of the Lord has given us is not always tied to finances only through the clerk of the number, or God should some mechanism to two euros of merchandise for the merchant but you will think about that for second when we bypass you taught me alone, go when you want to worry about something, just at the end of the day, plug piece of paper and write everything that you worry about and put away pretty gray over to the Lord, show me what I can take care, Lord were the things that you are going to do miracles. And I have really no control over him, Lord, on a rush in your arms. Be at peace now and put away and forget about it and because our God is not to go to worry Nero. Should we worry.
I'm reminded of the Scripture to put things into perspective. Stephen, you know, we will have that moment were our wives look at us and it's like that puts everything into perspective or children look out of our grandchildren look at us and you know that look of I love you, the look of everything should be okay. That's what the Lord is doing.
He turns his face towards us and gives us peace. Jan is such an important thing. The rumor I love that sense of heard that suggestion before I get to the end of the day and write all the things that are concerning you, and then just hand them over to the Lord, folded up or burn it or throw the garbage whatever but make sure were doing that and the such a great reminder. The Lord bless you and keep you and for those of us in Christ, David, as you know, that's exactly what he's gonna do. He has he will and that's an internal seal for all of us and we need to remember that in an and as God shakes the world, which I believe he is doing right now. Obviously his providence is over all of this. Remember that sending out some interest in truck horses and some men trust in chariots, but we will trust in the name of the Lord our God in that's that's where our houses should be built on rock right now and not on the sand that we see so much of the world really struggling with this right now, so thanks for that great reminder.
Obviously the markets down down down down another 3% today closed at 18,000 591 I was looking back. David on a five-year chart and it goes. That takes is below where we were right after Trump got elected, so November we won the election. November 14, 2016. The market was 818 867 were below that today so I guess the big question is if as we try to kinda pull apart that that that that casserole is how much of this is the coronavirus in and just the pandemic and people freaking out about that and how much of this is the exposure of so much of our house being built on the sand. Economically speaking what I can say is rotavirus.
In the popular bubble and there's more than one bubble. Unfortunately, there's a bowl of the above that government that most things are really big in this environment, the corporate global debt that's got exposed and the overvaluation of stock, but it's taking on another current in addition to all that. So now we have stock buybacks that cropped up stock schools have come to a screeching halt. We have dividend that KVM incentive to buy these types of stocks that were paying a percentage of everything is those who come to a screeching halt and all the ties of Reagan. She was really out there and you know you and I talked about this and so did PGR friend and your friend through my friend. I become his friends or you shoot me indirectly that food, no exposing a lot of things in your program last Monday that something is up us and mortifying that on 24 hours a week, maybe up to a month and it happened the next day, money market accounts became illiquid and I should.
There's no way this fits doing all this with her was in the underlying problem so money market account to become illiquid be fixed up to the Kirsch commercial paper market. We also shoot some headphones got three of them are in trouble they got some support. The obvious is a film and airlines are in trouble there stocks pulled together plunge come combination, 61%. The bond market is showing signs of stress build greater since we see in the Lehman brothers bankruptcy so it's starting to show some financial problems but the footage trying to take care of it, but the market is not responding to the I am still in the showoff mode because the thing that I mean that I'm looking at something from CNBC that was just this morning some 50 9 AM Eastern time. The Federal Reserve just pledged asset purchases with no limit to support markets likely will put my will print money put money in it excellently. No limit, and you would think oh well this is going to help today and it was up for just a little bit but then ended up down over 3% in is just amazing that that didn't have any kind of a real effect. We had a $4 trillion roof should commitment a week ago then went to five that wasn't enough, the market still go wrong for so long they went to unprecedented like you're talking about an open-ended commitment is what they call it so there doing aggressive things and that's still not working even when in the corporate bond market for the first time through a lending program $300 billion. So they're doing some extreme things because extreme environment calls for extreme behavior and were on the extreme environment so I will point would live with. Most analysts would say okay were in a recession. What is it take to actually use our work will were technically takes to build technical answers takes two quarters going negative in GP and what you know were not there but working out probably three quarters so were not in a recession technically but every most analysts ran to spatial most inevitable. In fact, one analysts Mohammed Ellie Ron very well respected law mortgage bond traders should use of the word depression. On another into the Bank of America alluded to the actual. I don't that's an extreme looming enjoyment hold our credit liquidity crisis. But what can I say were in the Lehman playbook environment were infielders bailing out left and right entities, and if not this time is not working and I said couple weeks ago about a month ago but now when there's a 26,000 points redeemable down to the technical level. I could see is possibly going to 17,700 were about 800 points away from natural another week of this relentless and that will probably at that level.
I think things are hopefully slow down. This can be really choppy right now though in the future of the market so a lot of the eligibility a lot of uncertainty. So is there any consensus right now amongst analysts and across industrial specialist David that that hey, it's going to be the lowest will go 17th out as a money talking like that. No starting the charge of looking at the technical side and elsewhere came up with that number you this thing is knocking a bounce back soon. Contrary to what some people are wishful thinking. It is not an environment. We haven't had corporate earnings come out first quarter second quarter can be worse than first and third still might be bad show but autonomous are saying it's a mistake to think that business conditions will quickly return to normal, because we broke the supply chain.
So maybe we were obliterated. A lot of things built coronavirus. And so starting to get back to normal quickly especially run a recession recession to take the least 14 months for that to turn around. It took typically takes four months to find abominable market winter and recession were not even technically very yeah yeah things are happening so quickly and is just amazing. I was looking at January 20's, on January 2.
The market was a 28,008 68 today closes at 18,000 591 about 10,000 over 10,000 options remarkable in terms of all the information and education you can provide. David, what would you think would be the top one or two pieces of the information and resources that people should get what we have nothing on the braille and it also how to properly diversify your portfolio in this environment for gold is really the only answer classes to hear while everything is down and out of the get a hold of that information being: 448-7988 82 944-879-8882 or landmark goal.com hi Buddy, thanks for Colin, and I appreciate you and will look forward to talking again real soon. Let's all keep friends absolutely likewise my friend America such as this is seasonal on the seasonal show, God willing will talk again real soon. Always is to say forward