The BradCast w/ Brad Friedman

'BradCast' 6/11/2020 (Reality arrives on Wall Street as COVID-19 surges)

06.12.2020 - By Brad FriedmanPlay

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On today's 'BradCast':  Wall Street has been high on irrational exuberance, despite record unemployment and major companies announcing bankruptcies. The stock market's major indexes have surged 44 percent since March, and on Wednesday, the NASDAQ hit an all-time record high. It's as if the market and the reality of the economy exist on two entirely different planets. But Wall Street may be returning to reality – the Dow plunged 1800 points Thursday, as new data showed the coronavirus pandemic cannot be pretended away, no matter how much Donald Trump and Republicans try.  New data shows that the rates of positive infections and hospitalizations are surging to record highs in at least 21 states that dangerously 'reopened' far too early. The spike largely reflects infection rates from before the nationwide protests over the killing of George Floyd, which some fear will add substantively to the totals. Yet the stock markets' inflated value has enabled Donald Trump and his Republican sycophants in Congress to avoid taking the actions needed to prevent harming the economy and the health of the American people. Also today: Army General Mark Milley, Trump's Chairman of the Joints Chiefs of Staff, delivered a videotaped statement asserting he made a mistake in joining Trump for his obnoxious photo-op last week at DC's St. John's Episcopal Church, when military troops used tear gas and violence to clear out peaceful demonstrators. Around the nation, protesters have begun tearing down offensive monuments to Confederate traitors who attacked the United States to preserve the abomination of slavery.  Plus: Desi Doyen has our latest 'Green News Report,' as major environmental organizations embrace racial justice...

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