i'm more with steve forbes now the
forbes media chairman and um
steve good to see you one that's one of
the things people seem to be talking
about is that because those job losses
that edward
says are all about inevitable from the
airline industry that might drive
both sides to hammer something out you
don't want those headlines
if if nothing else right before
certainly a presidential election does
that drive the um
or does that move the needle on on
stimulus do you think
uh it moves a stimulus needle only a
little bit because there's so much other
things in the the package including the
size
that is going to preclude an immediate
agreement what the white house suggested
today
or was floating today is a discrete bill
an individual bill
that provides 25 billion dollars of aid
to the airlines
i think that would sweep through right
away a couple of senators have proposed
that
senator collins of maine and senator
wicker of mississippi
uh but unfortunately their objections
and their questions about whether the
house would accept that whether
speaker pelosi would accept that but i
think the president should hammer that
immediately in the next 48 hours in
addition to a supreme court nominee
but hammer home but where everyone knows
the bill is needed let's pass it now
and deal with this other stuff in the
days ahead let's make sure we avoid
these tens of thousands of
layoffs that could be avoided by timely
action
and you think that would be able to do
it right 25 billion if you think about
it just from the perspective of math i
think the airlines got 50 billion they
ran
through or just about run through from
the original um
cares act as so that's half of that and
should be able to hold them over
for a little while are we still
inevitably though heading to more
from airline bankruptcies in this
country in the not so distant future do
you think
well there's been speculation of colonel
for a long time that one of the majors
is going to go down
i think that can be avoided after all we
do have vaccines
coming and that means next year people
will start to feel safer traveling again
and you see in the cruise reservations
cruise lines people want to do it
later next year they're eager to get out
and about again
so uh i think a lifeline can be
justified and we can avoid a major
bankruptcy
no need for it let's talk about the
economy and the markets more broadly we
had a nice rally to end the week today
but still it's been
sort of rough here of late particularly
for technology stocks and they bounced
uh today the there's been so much talk
about the election
articles being written that we might not
know the outcome right away and
investors are
not going to know what to make of that
goldman sachs said something
pretty interesting this morning putting
out a note and saying all that basically
all that kind of talk is a little
overblown in their view they think we'll
have a pretty good idea either who won
or who's going to win either on you know
november 3rd or shortly thereafter they
think people are making too much of it
what do you think
well we may know november 4th or
november 5th
uh remember 2000 we didn't know for
weeks it won the election it's not the
delay in the result it's what would
happen if the democrats ran the table
won the senate one
kept the house and won the white house
and what that would mean in taxation
regulation
just start off with the 40 prospect of a
40 capital gains tax
then there's talk uh so far quiet but
rumbling among democrats
the next year if they have the senate
not only they're going to do away with
the filibuster
but they're going to pack the supreme
court especially if
trump's nominee gets confirmed which
looks like
she will so six new justices coming
along
so that kind of uncertainty i'm
surprised hasn't weighed more on the
stock market
disastrous tax increases massive
regulatory increases
uh supreme court unwilling to stop this
trampling of the constitution of first
amendment rights second amendment rights
all of that's up in the year i'm amazed
the market's held up as good as it has
right and maybe it won't if that sweep
scenario becomes more likely i want to
bring up real quick before we go the s p
500 since august 3rd which would be
three months ahead of the election
you know we watch the polls all the time
the folks at strategist researcher who
are very smart they've been putting this
out for a while saying that the
the market actually predicts who's going
to win pretty well three months before
the election if the s
p is up the incumbent party has won
every year since 84 and
87 percent of the time since 1928
so it'll be interesting it's up a little
bit
right now it's going back and forth that
you know includes a nice little bounce
today maybe that'll tell us if that's
down that that scenario you're talking
about the sweep is starting to get
priced in
well obviously it's going to a lot going
to depend on the debates not just the
one that we're all anticipating on
tuesday but the two other ones
and whether the president effectively
puts out not only a pro
reminding people of what he's achieved
but putting out uh
more detail of what he's going to do if
he's reelected especially on
massive tax cuts and things like that
that people can look forward to
better times ahead if he paints that
picture people overlook personalities
focus on policy and principle
that's what he's got to do if he does
that the market will probably
start to go up a little bit right and
that would indicate he's more likely to
win at least that's what history has uh
has told us ah
oh boy that debate you're right will be
something to see steve forbes
thank you have a great weekend melissa
back over to you