What Nancy Pelosi just said..

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01. hey everyone me kevin here with an update on what nancy pelosi just said on msnbc in her interview nancy pelosi just spoke and began her discussion by saying that she hopes that donald trump is keeping a sharp eye on the stock market as the stock market pulls back after nancy pelosi this morning said stimulus is not going to happen before the election she believes quote hopefully he will come to the table on kovid relief that is hopefully if donald trump sees the stock market is falling he will come to the table on stimulus relief now i'm going to play exactly what nancy pelosi says in just a moment i'm giving you kind of a pre-preface here and what she says on stimulus we're going to listen to what she says on the election as well though i won't play everything because some of it just gets into partisan bickering so we'll only play the parts that matter so far though the latest is that donald trump is pointing the finger at nancy pelosi saying that the stock market is selling off because nancy pelosi wants a blue state bailout and because the stock market is fearful that joe biden will become president donald trump reiterated this in tweets and in interviews today also this comes all this news comes at the same time as jp morgan chase aka stated this morning that stocks would likely rise on a donald trump election many hedge fund managers seem to believe this as well because they're worried that joe biden will raise the corporate tax rate which could hurt stocks however on the flip side some say that a biden election could raise certain stocks because there would be less volatility in china trade risks which if we go back and zoom all the way back or rewind back to the end of 2018 we had a pretty substantial stock market pulled back because of the china trade war we were in at the time folks let's get into what nancy pelosi said here just remember the coupon code for the amazing courses does expire today with those live streams you can join every day every morning when the market is open so check those out that code will expire today let's see what nancy pelosi has to say on the election as well and try to see if there's any certainty in this crazy world that we're in right now because it certainly feels very confusing and frustrating let's get right into nancy pelosi and it is we want her talk the market to be up but now it's up over 1500 points in the last three days because of the spread of the virus and because there is no agreement we can come to agreement on how to stop the spread of the virus and again inject resources into our economy that will help people in their lives i'm going to pause there and say she says we can come to an agreement i honestly i don't think she's just saying like we can come to an agreement by republicans just accepting what we want uh what i'm actually envisioning here and i'll say this quickly here is that nancy pelosi speaks a lot with mnuchin she hasn't recently but she used to and mnuchin said he was good like we had a deal on a national testing strategy and a national testing plan i think that when minutian took that plan back to donald trump and to certain republicans maybe mcconnell and some of the other republicans they potentially looked at the plan and said ah too expensive uh you know too many requirements on people too many uh you know invasions into civil liberties who knows but that's probably what happened so i think nancy pelosi believes that if it were just minutiae we would have a deal by now but there are other republican forces underneath that are saying too much spending i'm not saying that's bad or right obviously we all want a stimulus package at this point but yeah there is definitely this undercurrent of republicans saying too much spending let's see what else nancy pelosi has to say also inject demand create jobs but everybody says we need including the chair of the fed who has said if you do something that is bigger than needed so be it but don't do anything less than i'm going to pause there just to interject the context of what she's talking about what she's saying is the federal reserve chairman jerome powell stated the risks of doing too little far outweigh the risks of doing too much aka spend money provide stimulus checks provide unemployment provide rental relief folks this morning the wall street journal on the cover of the wall street journal said we are going to face an eviction crisis this is serious and these relief packages could be bailing out the eviction problems that we're going to be facing they could bail out people on unemployment who you know are unemployed through no fault of their own so she is right and what she's saying here she did say this as well as i think she could have but yeah there is no economist who is saying do not do stimulus most econ i would say virtually 99 of economists that we read about they say do the stimulus now because otherwise we are going to enter a period of time where we have recessionary dynamics that start spiraling out of control and we can picture this pretty simply somebody gets laid off what happens they stop spending they save more they draw on credit they're like oh crap oh crap how am i gonna pay the bills this sucks is a terrible position to be in can't get another job hard to find another job so what do you do you spend less well then that business that usually relies on your spending now lays off more people great now you got more people in your boat that business closes down and now that owner doesn't spend money anymore and doesn't pay their payroll processor and their their rent and so that owner stops saying and then so you get the spiral and this is why the federal reserve is saying folks it's not just a matter of the stimulus coming it's a matter of when it comes every day we wait for more stimulus the more and more layoffs we have and the more problems we face larry kudlow likes to say oh but retail sales are up her housing's good sure that's wonderful for the wealthier people in america it's neat let me switch topics for a moment and talk about the election the president says he wants a winner declared on tuesday night watch this i'm going to quickly just add a little bit of context to this so here's the thing we've got battleground states obviously uh just because it's convenient i'm going to pull up real clear politics here a lot of us you know we we take these polls with a grain of salt and i'm not providing these to to give any slant here tilt i don't care i just want to say these are the battleground states we've got uh florida pennsylvania michigan wisconsin north carolina and arizona these are some of the big battleground states here and what happens is these there are a lot of ballots that get dropped into like mail-in ballots that get dropped into drop boxes or they get mailed on the day of the election they get postmarked on that day donald trump believes we should not count any of those past the election day but traditionally we always have now in a state like california that doesn't freaking matter because let's be real california is going to vote for biden not everything it's going to be like 60 40 but biden's going to get the california electorate right so there's no it doesn't matter if california counts the ballots three weeks late nobody cares about california but florida and michigan some of these states they will count ballots for sometimes weeks after and donald trump says no no no i want answers that night and so he is fighting to stop the counting that night let's go ahead and listen to a little bit it would be very very proper and very nice if a winner were declared on november 3rd instead of counting ballots for two weeks which is totally inappropriate and i don't believe that that's by our laws i don't believe that hopefully the few states remaining that want to take a lot of time after november third to count ballots that won't be allowed by the various courts madam speaker what do you do and what can you specifically do if the president says at 11 pm eastern on tuesday night i have won and counting any more ballots is cheating if he makes that deck in fairness i think whether you're on the left or the right we can literally all picture donald trump prematurely saying on his own accord i won declaration what can you and anyone else do well i think everyone will recognize that the president should should recognize a peaceful transfer of power which is the american way the votes will be counted uh as they come in i mean that is to say uh some states have said you can't start counting the ballots until all the polls are closed for example michigan passed that in their legislature and that's actually important because as we saw michigan is a battleground state so michigan says we're not going to count anything until all of the polls are closed well the polls generally don't close until 7 89 pm so i don't know that we're going to have an answer on election day if if that's the case even with a state like michigan so the votes will be counted uh until they're finished being counted what the president is doing though is just to gin up his base so that they can that he can save face when he suffers the defeat that is okay i'm going to pause here because i don't like getting into the partisan commentary i want to jump ahead to what she says about mitch mcconnell uh this this also has something you know this is good to talk about let's talk i certainly didn't expect to have three supreme court justices at the risk of tooting my own horn look at the majority leader since lbj and find another one who was able to do something as consequential as this i'm wondering what your response is especially since as you mentioned he cannot gather his own party to support a coveted relief bill for the millions of americans who need that help desperately mitch mcconnell is not a force for good in our country and if he oh oh that's that's a headline statement right there mitch mcconnell is not a force for good it's obviously a very partisan headline but that's that's a headline right there so obviously mitch mcconnell got three supreme court justices uh confirmed in the senate he's very proud about that but he got nothing done beyond our first heroes or the first cares package cares act for extended coveted relief when we need it most and that's a little bit of a problem he's tried the skinny bills the 500 billion dollar skinny bill tried it twice didn't work either time tried doing the stand-alone ppp bill that didn't work of course he points the finger at democrats and says hey well it's your guys's fault but then again in fairness to democrats had democrats said okay let's do the standalone ppp and the 500 billion deal there would have been no hope for any relief on anything else which wouldn't have you know if we passed the skinny bill we wouldn't have gotten the stimulus checks either so it's such a nasty negotiation honestly and the people are the ones who are suffering thanks it's a source of pride uh to russia a justice uh into the supreme court in a way that dishonors the court and dishonors ruth bader ginsburg as a matter of fact and he calls that an accomplishment he is not in any way shouldn't use his name in the same sentence with lyndon baines johnson who did so much for our country they're rushing that person in there so that she can be there not this tuesday but the following tuesday under uh to repeal the affordable care act and not only that to be there as the president said for the courts to decide on certain aspects of the election uh to undermine our democracy to overturn the affordable care act and the benefits contained there including the pre-existing condition and if he thinks that's a source of pride it just shows you why he is not a force for good and he should not even beg comparison instead a big contrast with lyndon baines johnson i mean that's that's a pretty big statement there she's basically saying donald trump got this supreme court nomination through to help during the election well wow that is what nancy pelosi just said uh very interesting so we got updates on quite a few different aspects from her on the election on the supreme court on stimulus one thing that i want to end this note on here is by saying look if there was more to talk about regarding stimulus we would have heard it but there is not more to talk about regarding stimulus because there have been basically no talks going on they're not even talking anymore with the treasury secretary this is honestly just pathetic uh and it's very very frustrating it looks like almost without a doubt one week from today i will be without hair on my head as i will have lost the bet that stimulus would come before the election thank you so much for watching i certainly hope stimulus comes very soon though and folks we will keep you updated with updates updated with updates anyway thanks for watching we'll see you next time