MARIA: WELCOME BACK BUSINESSES GRINDING TO A HALT ACROSS THE
UNITED STATES IS GOVERNMENT STEP
UP EFFORTS TO CONTAIN WHILE
THEIR HAVE AN IMPACT THAT WILL
HAVE A LASTING ECONOMY.
STEVEN MNUCHIN IS FORECASTING A
GIGANTIC FOURTH-QUARTER.
GIGANTIC FOURTH-QUARTER. >> YOU WILL SEE A LOT OF DEMAND,
WHEN WE GET THROUGH THE NEXT FEW
MONTHS IN AMERICAN SEES WHAT’S
HAPPENING AND WE KILL THIS
VIRUS, PEOPLE ARE GOING TO BE
COMFORTABLE GOING BACK TO WORK,
WE WILL OPEN BACK BUSINESSES AND
PEOPLE ARE GOING TO CONTINUE
WHAT THEY DO.
MARIA: THAT WAS STEVEN MNUCHIN
WITH ME LAST WEEK ON MORNING
WITH MARIA.
WITH MARIA. I WANT TO BRING IN STEVE BANNON,
IT IS GOOD TO SEE THIS MONEY.
YOU HAVE AN IDEA OF WHAT THIS
ECONOMY SHOULD BE DOING, TELL US
WHAT YOUR REACTION IS TO THE
CURRENT STIMULUS AND PLANS IN
PLACE FOR THE SHUTDOWN OR
STAYING HOME FROM VARIOUS
STATES.
STATES. STEVE: THE PRESIDENT IS A
WARTIME PRESIDENT, MY COLLEAGUE
IDENTIFIED THAT, BACK IN JANUARY
WHEN THE PRESIDENT TOOK THE
FIRST BOLD MOVE WAS TO SHUT DOWN
ALL TRAFFIC FROM CHINA AND THEN
QUARANTINE PEOPLE AS THEY CAME
INTO THE UNITED STATES AS THEY
HAD THE VIRUS PRODUCING ACTIVITY
WITH GOVERNOR CUOMO WORKING ON
THE HORRIBLE SITUATION IN THE
NEW YORK MEDICAL SYSTEM WHERE
PRESIDENT TRUMP HAS TURNED
AMERICAN INDUSTRY INTO AN
ARSENAL FOR DEMOCRACY OR AN
ARSENAL OR HEALTHCARE, BUILDING
MORE VENTILATORS AND GETTING
MORE MASKS, YOU SEE THE WARTIME
EFFORTS, IF YOU LOOK AT THE
SITUATION WE ARE IN, YOU HAVE TO
PUT IN THREE BUCKETS, THE
PANDEMIC, THE ECONOMIC CRISIS
CAUSED BY THE PANDEMIC, THE
SHORT-TERM AND THE DEEPER THINGS
ON THE SUPPLY CHAIN AND THEN THE
FINANCIAL CRISIS THAT IS NOW ON
TOP OF EVERY FINANCIAL MARKET
ACROSS EVERY ASSET CLASS IN THE
WORLD.
WORLD. I REALLY RESPECT SECRETARY WOLF,
I UNDERSTAND THE MITIGATION
STRATEGY BUT I THINK, IF YOU
LISTEN TO PAUL, WITH THE
WASHINGTON EXAMINER HE SAYS
THERE WAS DISCUSSION STARTING
ABOUT A MUCH TOUGHER SOLUTION
THAT GOT US THERE QUICKER.
I DON’T THINK WE HAVE MONTHS TO
DO THIS.
DO THIS. I THINK WHAT SHOULD HAPPEN, THE
RECOMMENDATION WOULD BE TO DUCT
HILL WITH PRESIDENT TRUMP IN
ACTION AND TO DROP THE HAMMER,
DON’T MITIGATE THE VIRUS, DO NOT
SPREAD THE CURVE, SHATTERED THE
CURVE AND GO FULL HUMOR ON THE
VIRUS RIGHT NOW WITH A FULL
SHUTDOWN, USE THE STIMULUS TO
BRIDGE THE ECONOMIC CRISIS, IT
MAY TAKE 2 TRILLION, AND MAY
TAKE 3 TRILLION TO FORCE CASH
INTO THE ENTREPRENEUR AND THE
LITTLE GUY, STEVE, ERIC, BERNIE
HAVE A PLAN, OF FORCING CASH
INTO THE SYSTEM, THAT BRIDGES US
WHETHER IT TAKES TWO WEEKS OR
FOUR WEEKS, WE GET THROUGH THIS
HARD AND FAST AND ON THE CAPITAL
MARKET SIDE, YOU BASICALLY DO
WHAT KEVIN WORE SHIN JANET AND
BEN ARE ARGUING FOR IN THE
FINANCIAL TIMES OF THE WALL
STREET JOURNAL WHICH IS MERGE
THE BALANCE SHEET OF THE FED AND
THE TREASURY AND USE THAT AS A
LENDER OF LAST RESORT TO ACTUAL
CORPORATION WITH THE ECB AND THE
BANK OF ENGLAND HAVE BEEN DOING,
WE TURN THE BALANCE SHEET TO
SAVE ALL THE BIG COMPANIES.
YOU SAY BOEING, THE AIRLINE
INDUSTRY, ALL THE BIG INVESTMENT
AND THEN USE ALL THE LIQUIDITY
CRISIS AND SOLVE THE SOLVENCY
CRISIS.
CRISIS. IT IS GOING TO BLOW UP OUR
BALANCE SHEET, THREE OR FOR
TRILLION DOLLARS PAID ONE THING
PRESIDENT TRUMP CALLED ME HIS
BEST STUDENT, HE’S ABOUT GETTING
IT DONE YESTERDAY.
IF YOU WANT TO GET IT DONE
YESTERDAY, YOU DROP THE HUMOR
TODAY ON THE VIRUS.
MARIA: DROPPED THE HUMOR HAMMER
YOU HAD EPIDEMIC BACK IN
GENERAL, FIRST TO CALL FROM A
WARTIME PRESIDENT, I UNDERSTAND
AND THE VOICE OF YOUR TONE, THE
EMERGENCY WE ARE TALKING ABOUT
BUT TED CRUZ TWEETED THIS, AND
NEGOTIATION FOR ECONOMIC CRISIS
RELIEF PUSHING FOR BOEING AND
GE, THAT WOULD BE WRONG,
MILLIONS ARE LOSING THEIR JOBS,
WE DON’T NEED BAILOUTS AND
CORPORATE WELFARE, THOSE
COMPANIES SHOULD PARTICIPATE IN
THE SAME LIQUIDITY PROGRAM AS
EVERYBODY ELSE.
EVERYBODY ELSE. YOU KNOW WHEN TO START BAILING
OUT ONE INDUSTRY IN ONE COMPANY,
EVERYBODY ELSE IS GOING TO WANT
IT, YOU’RE TALKING ABOUT
SHUTTING DOWN A
22 TRILLION-DOLLAR ECONOMY FOR A
PERIOD OF TIME, WHAT WILL THAT
LOOK LIKE ON THE OTHER SIDE?
THERE IS A REASON THEY WROTE THE
OP-ED RETHINKING THE CORONAVIRUS
STRATEGY.
STRATEGY. MARCO: PRESIDENT TRUMP IS A
WARTIME PRESIDENT, ONE OF THE
WARTIME FIGURES HE ADMIRES
GENERAL PAT SAID A SIMPLE PLAN
VIOLENTLY EXECUTED TODAY VISA
MARK OBLIGATED PLAN THAT TAKES
MONTHS AND MONTHS TO EXECUTE.
WE HAVE TO GET TO THE PANDEMIC
PART INTO THE VIRUS, YOU SEE
WHAT’S HAPPENING TO THE MEDICAL
SYSTEM IN NEW YORK.
YOU HAVE TO GET THROUGH THIS AND
IF YOU ARE GOING TO GO THROUGH
HELL, LET’S GO THROUGH IT AS
FAST AS POSSIBLE.
YOU HAVE A BRIDGING EVENT, THAT
BRIDGE IS THE CASH HE PUT INTO
THE SYSTEM TO THE LITTLE GUY,
MUCH OF WHAT THEY WORK ON
CAPITOL HILL AND BETTER WAYS TO
DO IT TO FORCE CASH INTO THE
SYSTEM FOR THE LITTLE GUY IN
THEM FOR THE BIGGER GUY YOU
OBVIOUSLY ARE GOING TO HAVE
DIFFERENT NEGOTIATIONS.
DIFFERENT NEGOTIATIONS. IF THEY HAVE A BUYBACK PROGRAM,
MAYBE WORK AROUND THE EDGES ON
THAT, WE DON’T WANT TO HAVE A
SITUATION IN 2008 WHERE THE
ELITES MADE ALL THE MONEY,
HOWEVER, WE HAVE PLENTY OF TIME
TO ADJUDICATE THAT ON THE OTHER
SIDE OF THIS.
WE HAVE AN ECONOMIC INFERNO
COMING AT US.
SECRETARY MNUCHIN WAS TALKING
ABOUT 20% UNEMPLOYMENT, REMEMBER
FROM THE GREAT CRASH IN 1929 AND
OUR STOCK MARKET OVER THE LAST
THREE WEEKS HAS BEEN LIKE THE
GREAT CRASH AND 29, WHEN
ROOSEVELT WAS ELECTED, THAT WAS
TWO AND HALF YEARS LATER,
UNAPPOINTED DID NOT DROP OFF THE
MARKET UNTIL 31 AND 32, NOW
IT’LL DROP NEXT WEEK AND THE
FOLLOWING WEEK, THAT’S WHAT YOU
HAVE TO GET ON TOP OF THIS
TODAY.
TODAY. PRESIDENT TRUMP’S GREATEST
VIRTUE IS AN ENTREPRENEURIAL
SPIRIT, HIS TOUGHNESS AND HIS
FOCUS AND I AM JUST SAYING RIGHT
NOW, NOT MITIGATED, HAMMER IT
AND TAKE THE PAIN UP FRONT, SHUT
IT ALL DOWN, KILL THE PANDEMIC,
BRIDGET WITH A CASH INFUSION AND
TAKE CARE OF THE SOLVENCY
LIQUIDITY PROBLEM USING THE FED
AND THE TREASURY DEPARTMENT TO
LAND A CORPORATE CREDIT.
MARIA: WHAT YOU ARE SAYING YOU
WANT THE POWER TO FLOOD THE
ECONOMY WITH CASH, YOU WANT THE
BALANCE SHEET COMBINE, FLOOD IT
WITH CASH, SEND MONEY TO
EVERYBODY YOU DEAL WITH THIS
LATER IN TERMS OF THE IMPACT
THAT THE ECONOMY.
WE ALREADY LOST, TO MARKET
VALUE, 20, $25 TRILLION AND THEN
WE HAVE A HEALTHCARE SYSTEM ON
THE BRINK RIGHT NOW.
MARCO: THIS IS THE POINT, WE’VE
ALREADY SHREDDED 25 TRILLION IN
ALL CAPITAL MARKETS JUST IN THE
EQUITY SIDE, LOOK WHAT HAPPENED
ON THE BOTTOM MARKET IN
COMPANIES, LOOK WHAT HAPPENED TO
JOBS, WE ARE ON THE BRINK OF
HAVING PERMANENT DAMAGE TO THE
GREATEST ECONOMY IN THE WORLD,
BEFORE THE START OF PRESIDENT
TRUMP AND THE WHOLE TEAM HAD A
GREAT ECONOMY GOING, WE CAN GET
BACK TO THAT.
THE WAY TO DO IT IS TO HUMOR HAM
DEEP AND THEN THE TIMEOUT WILL
BE BETTER, YOU HAVE TO FLOOD IT
WITH CASH TODAY, EVERY POWER OF
THE FED IN FACT NEW POWER OF THE
BED, NEW PARTS OF THE TREASURY,
THIS IS A WAR AND PEOPLE IN THIS
TOWN ARE THINKING OF CONVENTION
LIKE HIS 2008.
THIS IS SO MUCH DEEPER THAN
2008, I’M NOT SAYING GIVEAWAY TO
THE CORPORATION, THAT’S THE LAST
THING I WANT.
MARIA: WE HAVE 20 SECONDS LEFT,
DO YOU WORRY THAT THE HEALTHCARE
SYSTEM IS ON THE BRINK, I WAS
TOLD YESTERDAY BY SOMEONE WHO
SAID WERE ONLY SEVERAL HOURS
AWAY FROM NO MORE BEDS, NO MORE
VENTILATORS, PETER NAVARRO IS
WORKING ON GETTING THE SUPPLY
CHAIN BACK BUT WHAT IS THE
IMPACT?
IMPACT? STEVE: THE CCP VIRUS THAT THEY
UNLEASHED ON THE WORLD IS IN THE
BRINK OF POTENTIALLY DESTROYING
THE NEW YORK CITY HEALTHCARE
SYSTEM, THAT’S WHY PRESIDENT
TRUMP A GOVERNMENT: COMO ARE
GOING WITH EVERY PIECE OF
EQUIPMENT, THE NAVY HOSPITAL
SHIP, THE ARMY CORPS OF
ENGINEERS, MAYOR DE BLASIO
LOOKING FOR OTHER SPACES, THE
JAVITS CENTER, THE ICE EMERGENCY
ROOM, AND THE GREAT FIRST
RESPONDERS DOCTORS AND NURSES.