Saw Trading Places yesterday, finally understand the "Looking good, Lewis" bit! Ash, next time you need to reply with "Feeling good, Billy Ray"

Good stuff guys. Amazing Apple 400k per person annually. Is that pure profit, after salaries? Extremism on both sides is a destabilizer and exhausting, possibly necessary... Guess we won't truly know till the dust settles. Hopefully for USA it doesn't go on endlessly in a Brazilian loop of corruption. Also hope Brazil is pulling forward in the very near future. Never thought of the workforce individuals generating the wealth that is not evenly shared back... hmmm. Guess it is only if you're luck enough to be part of company that issues shares—and they are successful/sizable enough to spit back dividends.

More money should be spent on schools in the inner city to give kids a better chance of an education. Make universities stand for something so an education is worth something, that will allow degreed people earn a decent education.

People who invest usually put into the bank which gives others the ability to borrow and set up other businesses. If they invest in other businesses that gives those businesses the ability to expand and possibly employ others. Or perhaps they costs become less, which allows consumers to buy cheaper.

Come on Real Vision, put your money where your mouth is and serve the people! Give us the Raoul After Hours video! Just think of all those tier upgrades you'll get. Everyone's a winner.

Go Ed Harrison Go! Hey Ed, if you're interested in a radically different perspective on social science give me a shout-out!

Why wouldn't qrt earnings be suspended or dropped? That would push bleeding announcements until after election!

Real! Thorough! Loved it!

Harrison nailed it. Citizens United enabled health care, pharma, financial services, military, telecommunications to extract wealth from those least able to afford it and otherwise loot the US Treasury. Historically, income inequality of this magnitude does not end well for anyone.

I’ve really enjoyed Ed’s commentary the last few days - it’s great to hear these issues looked at through the RV lens and his passion is deeply felt. Great stuff!

Great stuff gents.

I really enjoy it when Ed Harrison talks social sciences! I think you're really on the mark when it comes to inequality and needing large scale structural change 🙏 Keep it up!!

So Ed, the recession is over. How about the depression?

All this talk from Ed about policy / politics, but nary a mention of (longstanding bi-partisan) trade policy which has sold out, and continues to sell out the American middle class to Chinese interests. Both parties have adopted a globalist-lucre stance which benefits large supra-national corporations (and their profits) over American workers, whose jobs and/or pay disappear or dissipate continuously under the current regime. Ed's comments are hardly refreshing; they are a rehash of decades of utopian redistributionist nostrums which ignore the international trade system gamed by a shrewd mercantilist and essentially lawless China. This is not helped by Ed's obligatory (and always safe) criticism of Trump, yet not of any of his predecessors whose policies were even worse because they produced lower growth without ameliorating "inequality" (even if we are to pretend that extremely unequal outcomes in human systems are avoidable, which all of history shows not to be the case). For all his faults, at least Trump has tried to work on the anti-American-worker trade system, jealously guarded by both parties (even if for somewhat differing reasons).

simply one of the best daily briefings

The establishment fears both the extreme left and extreme right, however, the populist movements are on the far left and far right. The connected middle is fine with things as they are since they benefit from the current system and oppose power going to the regular folks. Change will surely make the connected middle less comfortable - as it should. The time is coming when the populists from both political parties will unite to bring long-needed changes.

Did I hear that correct Ed is saying that recession is over ??. And we are at the start of a early cycle?

Bring it, Ed! The socio-economic disparity in America is the poisoned chalice preventing its ascension in the 21st century.

Ed telling it like it is. I feel like Ed is drank a huge can of that angryeconomics cool aid before this interview and Ash wasn’t quite ready for it. Don’t get this type of good commentary elsewhere. Love it.

Ed is saying what we are all thinking. This show is getting better daily. Keep up the could work Ed & Ash!

For decades the US has been telling the rest of the world how great their system of government and economy is, often imposing it on other countries by force. Now they want to BITFD without much of an idea of how to improve it. The French revolution may give some context.

Ed’s comments are spot-on. The ‘ruling class’, the status quo, gets bailed out, while the rest of us get further squeezed. Not sure if you’ve noticed, but even great minds in our space espouse the thought of #BITFD (Burn It The Fuck Down). These are the sad results of trying to keep the status quo afloat. Meanwhile, food prices rise, health care prices rise, housing prices rise, and the Fed tries its best to get prices to rise further. Politicians on the fringes rise, because the average person reaches the end of their tolerance. Everyone needs to understand The 4th Turning by Neil Howe. How do we fix this situation? We #BITFD, and our kids can again afford housing and medical care. They can invest in companies that actually have a future. They can participate in the growth of the new world order.

Brilliant guys. Ed - great to hear the discussion on the distributive effects of the current system. Can I suggest that RV try to line up an interview with Michael Pettis discussing his new book Trade Wars are Class Wars (the distributive effects of the current systems/global trade are discussed in detail).

Ed for president! At the end of the day money is a political creation, the root of economics is politics.

I have absolutely loved these last two episodes of the daily briefing because of ED. Fantastic points, raw energy and great analysis. Ash seems to hold back on giving his opinions - which is ok - but I appreciate Ed putting himself out there. Can’t wait to watch again tomorrow. Keep it up guys!

Ed is going rogue. Thanks for speaking for the people Ed.

Wow. Ed on fire again today. And the points made in the last 5 minutes, he is well-positioned with his experience to state them with the authority of truth.

Ed repeated a familiar refrain: younger people are better able to combat COVID-19. Maybe. But (as a layman) what I read daily is a new and rapidly expanding understanding of the scope of damage COVID-19 does to our systems. Three months ago we were concerned about severe attacks on our respiratory systems which proved fatal to many, especially the elderly. Now we hear about significant damage to many organs (including the brain itself) amongst "survivors" and others who have not even exhibited the usual respiratory symptoms. Thus far such damage appears irreversible.

Please can the After Hours with Raoul be made available to Essential members? I believe it would help a lot of the lower level members to get more involved in financial markets, and as a result they would upgrade to a higher tier on RV in due course. Thanks in hope!

This show is getting better and better. Ed and Ash are a great combo. And Ed's totally right about the politics of this. If we don't level the playing field NOW and create a more fair political/economic system here in the US that reaches working people... then the radicals on the left and or right will take it and burn it.

Ed breaking the pipe. Ash bringing it in. Best duo on tv!!!!

Way to go Ed! the second half of your briefing - you were fired up about your disgust with the way things are ( not just the Market , or the Economy, but the power in the hands of very few - its probably always been this way, but the very few have become very selfish and corrupt with the power they wield. Still I was disappointed with the first half of the conversation (you and Ash) it seems like you waffle back and forth each briefing, depending on how the market goes, the guest speaker you have that day, and a few of the hilighted news stories of the day What is your true opinion about how this market cycle will ultimately play out? Im not asking for timing, although I would appreciate your thoughts on timing,but I would not hold you to it because this Market is not making sense. But it will ultimately Although you dont say it, this Market (and Fed/Fiscal) is no different from 2000 or 2007 - the same Market Dynamics apply - even for the Hi Flying Tech Stocks, eventually Market Prices will reflect true earning streams. And there are a lot of Companies that will have a shocking adjustment (ie Tesla - I like Tesla as a car company) Im not saying Tesla may not some day earn its Valuation, but that day is a looooong way off, and there are many companies like them! reality will have its day

Loved this conversation. Ed has been on fire at calling out the b.s! One should not be afraid of not being "too political" especially when you know that real people are feeling the pain. We need to be the ones to call it as we see it, on whatever platform we have a voice on.

Incredibly insightful and comprehensive discussion. Thanks for this.

Ed- you are right on the social climate! Well said!

Very much appreciate and enjoy Ed’s candor as of late. As much as we want to avoid the political side, it is to our detriment as that is where the power is, as Ed put it.

On July 15, 2020, Ed Harrison will make an announcement regarding a 3rd party Presidential run. Watch this space!

Nice Ed. Get it out! Will add one thing though: You're overlooking that wage pressure is what really drives/forces strides in productivity gains. Hard to justify investing in productivity when you can outsource to foreign labor for pennies on the dollar... It's a systemic issue, the players are acting rationally.... This explains the mystery of slowing productivity...

Vote for Ed Harrison for President of the United States In 2024 and Mark Cuban for vice

It's Bastille Day, and it passed with a mention. But, Ed broke "radical" left

Thinking about Ed's comment about the means to address inequality: Working people need to have influence in politics, and also in the corporation. My back of the napkin ideas: Randomly formed citizens assemblies with political power enshrined in the constitution should determine spending and taxation, and should be empowered to order the break up of monopolies. Workers in publicly held companies should make up 51% of the board.

Ed, Bravo Sir. Well said, well done.

This one ended heavy fellas (and I liked it). I think Ed’s right: you can’t just hide behind the numbers and try to stay clean or sterile, for lack of a better phrase. The politics of the economy is where the power is. Right now, most politicians have abdicated that power to corporate power (lobbyists). Will voters force them politicians to step in and fix this broken, tilted system? We’ll see, but I think they will, by hook or by crook.

“100% conviction... system is rigged”... right on Ed.. let’s call a spade a spade... stock buy backs and financial engineering should be capped and heavily scrutinized by regulators. What has gone over the past decade is arguably criminal, if people really knew what was going on. If companies spent that borrowed money on organic, growth think of the opportunities... the jobs. We wouldn’t be in this mess.

I agree with you mostly Ed. Citizens United was a horrible decision. Corporations aren't people. However, I do think people in this country are too quick to live beyond their means. Everyone is responsible for their own outcomes, for the most part, but it's easier to blame others.

I appreciate your conviction about the unfairness of the system, Ed. Something about blockchain ... ;)

Great energy from Ed especially about how Trump rewarded corps and execs which ended up squandered on share buybacks instead of forging ahead patriotically ultimately for the benefit of America and Americans. And now these same squandering corps and execs get most of the bailout money, where is the justice and the truth here? I feel the energy man, and the righteous anger.

Spot on Ed. The subject in University used to be called Political Economy. There can never be a separation between politics and economics. They are two sides of the same coin. I really enjoyed this conversation and Ed's candour. With respect.

Ed, I appreciate your comments on inequality. Thanks for stating them so directly. What's notable to me is that you feel as if you're going out on a limb to state what. I think, is obvious. Volatile times.

I completely agree with Mr. Harrison on the wealth inequality issue coupled with the race inequality issue. COVID-19 will pass, we will adapt or die. Race and income inequality will not pass in my lifetime even under law. We need to work on them now even during the pandemic. RVTV could produce a longer-term series - maybe several a month - on changes the US can make to promote the common good. RVTV has access to brilliant business minds that know how to effect and manage change. Capitalism must function well to fund any representative democracy. The two must work together or both will fail. We are certainly out of balance now. We need to figure out how to raise all boats economically from the wealthy to the poor, from young to old, from cities to rural – the common good. You do not make everyone better off by just taking money from the wealthy to give to the poor. You make the poor wealthier. DLS

ED's thesis is that investors will lose patience with non-performing companies in Q3 and that generally bad things will result for the market. This sounds plausible, but how do you imagine it will square with the 1.6 trillion dollars in the Treasury General Fund that will be used (supposedly) to goose the economy prior to the election. Do you see the excess liquidity overcoming the bad fundamentals?

I appreciate the discussion on societal changes but i believe you are missing the target. To me it is quite simple. We have had corrupt money since the 1970's (when the US broke with Bretton Woods) which manifested itself in corrupt politics. Western governments and central banks, since then, have been clearly serving interests other than their own citizens. The only way to address societal inequalities is to return to sound money. Unfortunately, CB's are accelerating in the other direction.

Love the heat!

IMO the economy is simply in a depression. Calling one quarter a recession, down 50%, and the next month a recovery, up 5% is not productive. Investopedia definition of a depression: “A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10% in a given year.” Goldman Sachs in July estimated US 2020 GDP will be down 4.6%. There is a good chance we will meet the easy definition of a depression of down 10% if COVID-19 has its way from now to the end of the year. DLS

"in the UK the ratio of average chief executive pay to that of average workers rose from 48 to one in 1998 to 129 to one in 2016. In the US, the same ratio rose from 42 to one in 1980 to 347 to one in 2017" https://www.ft.com/content/5a8ab27e-d470-11e9-8367-807ebd53ab77

Conclusion: The Bread and Circuses program doesn't work, doesn't keep the population in their respective boxes when folks are in lock-down.

Great introduction Mr. Cooper. Thanks for giving the YOY, and QOQ data instead of just per estimates. DLS

Go Ed !