With the stock market in free fall, the Trump administration floats bailouts, and Bernie struggles for traction in the final primaries, and Rashida Tlaib shows her anti-Semitism yet again, Ben Shapiro takes a look at what's going on around the world and tries to explain why the media are blowing things out of proportion in order to hurt Trump domestically and abroad. Today's show is sponsored by ExpressVPN. To find a list of our sponsors and show-related promo codes, go to gimlet.fm/sponsors and use promo code: CRIMINALS at checkout to receive 10% off your first purchase when you enter the offer code CRIMICAL10 at checkout. The show is now available in Kindle, iBook, Paperback, Hardcover, and Hardcover Audio Book format. It's also available on Audible and Podchaser.fm. Subscribe to the show on iTunes and leave us a rating and review on Apple Podcasts and other podcasting platforms. You can also become a patron of the show by becoming a patron patron of The Ben Shapiro Show. Ben Shapiro's newest book, is out now: The Devil Next Door which is out in paperback! and is available on Amazon Prime and Vimeo worldwide. If you haven't gotten a VPN yet, you can get a free 7-day trial when you run your first month free trial of the service, starting on January 1st, 2019. Ben's Free 7/Vimeo membership trial, which includes unlimited access to all of his courses, courses, and books, and a free of his other courses, including ebooks, and so much more! Ben s full-up to access all of the best tips, courses and courses, plus all his other great rewards, including the use of the Ben Shapiro . Links mentioned in the show will be available on the show are listed below. Want him to sponsor the show? Thank him! Subscribe here. Learn more about Ben Shapiro s latest book: The Devil's Guide to The Devil s Guide to the Universe? and much more. I'll be giving you access to his latest book, coming soon, including his upcoming book, "The Devil s guide to the world's Best Podcasts, coming out soon! He'll also be giving away a $10,000 discount code: Ben Shapiro is giving you an ad-free version of his new book
00:00:00.000With the stock market in free fall, the Trump administration floats bailouts, Bernie struggles for traction in final primaries, and Rashida Tlaib shows her anti-Semitism yet again.
00:00:23.000Okay, so let's begin with the international news about coronavirus.
00:00:26.000The market seems to have recovered a little bit this morning.
00:00:28.000They began up a little bit, so it seems like the market has found its new bottom, but we think that every day or so the markets are really up and down.
00:00:35.000We've seen the markets climb 3%, down 4%, up 5%, down 7%.
00:00:40.000Yesterday, the markets dropped about 8%, which was market correction territory.
00:00:45.000They've been down overall from their highs of about 29,000, which was just a couple of weeks ago.
00:00:52.000Probably they will do so unless there's another major shock in terms of the news.
00:00:56.000Let's begin with the international news about coronavirus.
00:00:58.000Now, the reason I start with the international news is because I hear a lot from people who are in conservative media, in the conservative world, that the media in the United States are blowing this thing way out of proportion in order to target Trump.
00:01:09.000And domestically, there's some truth to that.
00:01:11.000Domestically, there's no question that the media would love to see Trump fall flat on his face throughout this entire process, that they can use it as a club to wield against Trump.
00:01:19.000Because the fact is this, Trump's chaotic style, his chaotic management style, the fact that he sounds off a lot, in most areas of American life, that has very little impact.
00:01:26.000I think that most Americans have sort of priced the chaotic side of Trump in.
00:01:30.000And the fact that Trump says a lot of stuff on Twitter, most Americans are like, okay, whatever.
00:01:33.000So long as my 401k is fine, who cares?
00:01:35.000So long as we're doing the right things on foreign policy, let him spout whatever he wants on Twitter.
00:01:41.000I'm not following around the president's commentary day by day.
00:01:44.000When it comes to things like crisis response, where people look directly to government for handling, and particularly in a situation like this where we are talking about pretty significant restrictions on everyday life in the United States, people tend to look to the president for that sort of stuff, and so the media have a new lease On an argument they've been using about Trump for a while here, which is that his chaotic management style and, in fact, his chaotic rhetoric are really bad overall and have some really significant impacts.
00:02:07.000Now, in the end, his rhetoric probably isn't going to matter very much at all.
00:02:10.000In the end, just like every other aspect of American government, what the government does matters a lot more than what the head of the government says and what the president of the United States says.
00:02:19.000Now, again, I'm not somebody who underestimates what the president says.
00:02:22.000I think that half the job is what the president says.
00:02:24.000But again, because people don't take Trump Literally, as much as they take him sort of seriously in Selena Zito's famous formulation.
00:02:31.000In the end, the policy is going to be what the policy is going to be.
00:02:34.000And so people who are informed are not listening to Trump on coronavirus.
00:02:37.000They're instead listening to his people.
00:02:39.000They're listening to Dr. Anthony Fauci from the National Institute for Allergy and Infectious Diseases.
00:02:44.000They're listening to the U.S. Surgeon General.
00:02:46.000They're listening to people actually know what they're talking about.
00:02:48.000So the American public are already starting to price in Trump's commentary and ignore Trump's commentary throughout.
00:02:53.000The media would like you to focus on Trump's commentary specifically because Trump has a habit in these particular situations of stepping on rigs.
00:02:59.000Now, all of this is true about the media, that the media would love to see Trump fail.
00:03:03.000But when people suggest that the coronavirus itself is being wildly blown out of proportion in the United States, what they are missing is that it's pretty bad abroad.
00:03:12.000I mean, the fact is that the Italian government is not doing this to hurt Trump.
00:03:16.000The Israeli government is not shutting down travel in order to hurt Trump.
00:03:19.000The Chinese government isn't welding people in their houses in order to hurt Trump.
00:03:23.000And so to understand sort of the balance between what the media are doing, and yes, they have Two mandates here.
00:03:28.000One is to hurt Trump and the other is a much more important mandate, obviously, and that is to provide people with news of what's going around the world.
00:03:34.000You have to understand that this isn't completely made up.
00:03:39.000And in order to understand that, you really do have to understand the statistics.
00:03:42.000Statistical Sort of inability to understand things.
00:03:46.000Complete illiteracy with regard to statistics is a very bad thing in the media.
00:03:50.000People don't understand how basic statistics work.
00:03:53.000And so people will say things like, okay, only 3,000 people have died so far from coronavirus.
00:03:57.000So why exactly are we paying so much attention to it?
00:03:59.000Obviously, swine flu from April 2009 to August 2010 killed about 9,000 people in the United States alone.
00:04:06.000Globally, coronavirus has only killed 3,500 people.
00:04:09.000So why are we all panicked at this point?
00:04:11.000Okay, the reason that everybody is taking this stuff really seriously is because government action in places like South Korea, in places like China, has indeed tamped down the transmission of coronavirus.
00:04:23.000And to understand how important that is, you have to understand that COVID-19 is significantly more transmissible than other diseases like SARS or MERS have been in the past.
00:04:32.000So it is much more deadly than swine flu.
00:04:35.000It is less transmissible than swine flu, but that's...
00:04:39.000Yeah, we don't actually know that because so many cases have not been reported yet.
00:04:42.000Now, the good news is, I think when all of this is said and done, COVID-19 is going to be a multiple of the flu, but it is not going to be anywhere in the range of the Spanish influenza, for example.
00:04:53.000Right now, here's what is being reported.
00:04:56.000By Business Insider in terms of the number of global cases as of March 6th, 2020 and the estimated mortality rate.
00:05:01.000Now, remember, the estimated mortality rate is probably too high right now in terms of what people are talking about because the number of actual diagnosed cases is absolutely unclear.
00:05:10.000Testing kits have not been available throughout the United States.
00:05:12.000There are only a million testing kits available right now.
00:05:15.000We don't even know where those are deployed.
00:05:16.000Abroad, not everybody has been tested either, but there are about 100,000 cases that have been diagnosed all over the world.
00:05:22.000There's about a 3.4% mortality rate, so about 3,400 people are dead.
00:05:27.000The swine flu, which was from April 2009 to August 2010, some 700 million people to 1.4 billion people were estimated to have come down with swine flu.
00:05:37.000But the death rate in swine flu was 0.02%.
00:05:41.000So the COVID-19 virus is about 17 times more deadly than the swine flu is according to these stats.
00:05:48.000Now, again, those stats are not really as Solid as we would like them to be because we don't actually know at this point how many cases have actually been diagnosed of COVID-17.
00:06:05.000And when you compare it to other diseases, this is why people are worried about COVID-19.
00:06:08.000SARS has about a 10% mortality rate, but there were only 8,000 cases globally.
00:06:11.000MERS had a 34% mortality rate, but there were only about 2,500 cases globally.
00:06:16.000There are hundreds of thousands of cases, presumably, of COVID-19.
00:06:20.000So it's very difficult to tell at this point what the death rates are, but this is why people are worried.
00:06:24.000By the way, it's not 17 times as deadly.
00:06:25.000According to those statistics, it's actually 170 times more deadly than the swine flu if we were to have a 3.4% death rate from coronavirus.
00:06:34.000Okay, so with all that said, that is why people are looking to the government to take pretty significant measures, and that's why the government has been taking significant measures in countries abroad.
00:06:41.000They took significant measures in China, after allowing this thing to flow freely out of Wuhan for a month and a half.
00:06:47.000They finally took some pretty significant measures, and now you're starting to see the number of coronavirus diagnoses going down.
00:06:53.000The same thing happened in South Korea, and you're starting to see the number of coronavirus cases go down.
00:06:59.000It means that if there is actual social distancing, if people do not go to major public sporting events for even a little while, if you are able to thin people out in terms of sort of aggregating people in small spaces, then you're able to lower the number of diagnoses and hopefully people then outlive their transmission period and the thing basically goes away and becomes a seasonal virus once a year.
00:07:20.000And by that point, we hopefully have a vaccine.
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00:09:22.000Okay, so as I say, the reason I'm looking at sort of the measures that have been taken abroad, is because those at least have nothing to do with Trump.
00:09:28.000That's a good control group for exactly how worried people are across the world taking out the Trump factor and the media trying to exacerbate the situation in the United States in terms of panic in the United States.
00:09:40.000Well, there is a massive, severe travel limit imposed across the entire country of Italy, announced on Monday by Prime Minister Giuseppe Conte in a primetime news conference, according to the New York Times.
00:09:50.000With the announcement that Cyprus had confirmed two infections, every country in the EU has now reported cases of the virus, but the approaches to slowing the spread vary widely from nation to nation.
00:09:59.000More than 114,000 cases of infection have now been reported globally, about 4,000 people dead.
00:10:04.000But fear and anxiety are outpacing the immediate danger.
00:10:07.000The speed with which the virus is spreading has left public health officials rushing to catch up.
00:10:10.000There have been over 7,500 diagnosed cases in South Korea, but we're starting to see that decline now.
00:10:14.000In Wuhan province, we're starting to see this decline.
00:10:16.000In Italy, there have been well over 9,000 cases diagnosed.
00:10:19.000In Iran, there have been 7,100 cases diagnosed.
00:10:24.000In many of those countries, basically all non-essential travel has been banned.
00:10:29.000We have seen internationally a lot of school closing.
00:10:34.000They announced that schools in the Madrid area would be closed, adding 1.2 million children to the 300 million, whose education has already been disrupted worldwide.
00:10:42.000Patrick's Day parade in Dublin was canceled.
00:10:45.000The global count of at least 114,000 cases also includes more than 64,000 people who have recovered.
00:10:50.000So it is important to recognize that the vast number of people who are actually coming down with coronavirus are recovering from all of this.
00:10:55.000President Xi Jinping actually traveled to Wuhan But we're not going to know how bad this is until the travel restrictions are eventually lifted.
00:11:05.000France and Spain are seeing the biggest surge in new infections.
00:11:07.000Each is now confirming over 1,600 infections.
00:11:12.000The Czech Republic has about 41 cases, but announced that all schools aside from universities would close starting on Wednesday.
00:11:18.000That is according to Prime Minister Andres Babis.
00:11:22.000The Spanish government closed all education centers in Madrid from nursery schools to university.
00:11:27.000In Poland, schools in Poznań, a city in the west of the country, were ordered closed after a single case of infection was discovered.
00:11:33.000Austria barred travelers from Italy without a health certificate.
00:11:35.000Switzerland is considering a similar measure.
00:11:37.000Serbia has temporarily barred travelers from the worst affected places.
00:11:40.000Now none of this is permanent, obviously.
00:11:42.000What we are hoping is that If people basically stay where they are, and then they self-quarantine, then after 14 days, they're either recovered, or we know what they have, and then we can move them into a hospital where they actually require the care.
00:11:55.000What you don't want is people circulating around and passing the disease faster than we know how to stop any of this.
00:12:01.000So, the United States, we've seen similar measures being taken on sort of a voluntary basis.
00:12:05.000You're seeing the government take a very heavy role in places like Israel.
00:12:08.000In Israel, they've now said that anyone who enters the country has to self-quarantine for a minimum of 14 days.
00:12:13.000Foreign nationals who are unable to demonstrate to Israeli border authorities that they will be able to self-quarantine for two weeks will not actually be able to enter the country.
00:12:20.000So if you had a seven-day trip planned to Israel, they will just reject you at the border.
00:12:24.000They won't allow you to come into the country right now.
00:12:26.000Everybody is basically just saying, lockdown, sit down, stay where you are.
00:12:30.000In the United States, we've seen some major universities who are canceling classes for the rest of the semester, at least in-person classes.
00:12:37.000You're starting to see people Do online education, which, by the way, would be a good answer to a lot of our problems in the United States generally.
00:12:43.000On Tuesday, the Fulton County school system, which covers the suburbs of Atlanta, became the largest U.S.
00:12:47.000school district to close after one employee tested positive for the virus.
00:12:51.000Schools in Snohomish County, near the center of the crisis in Washington state, were also closed after an employee in the transportation department tested positive.
00:13:00.000Harvard College has urged people not to return from campus after spring break.
00:13:05.000Officials in Santa Clara County escalated their recommendations to limit mass gatherings in order to mandatory ban starting Wednesday at midnight.
00:13:13.000So one of the things that the people are worried about with regards to the Trump administration is again, there are no set rules.
00:13:18.000And you are hearing stories about people who come down with a cough or they come down with a fever and they don't know what to do because the instructions are not clear.
00:13:25.000Are they supposed to go to a hospital or are they supposed to stay home?
00:13:27.000Now the answer is if you are young, you are basically supposed to stay home.
00:13:31.000If you are elderly, then you should probably think about going to a hospital, because this is disproportionately affecting elderly people.
00:13:38.000The CDC is now recommending that if you are over 60 years old, you should stock up on supplies and you should avoid crowds.
00:13:43.000Nancy Messonnier is director of the CDC's National Center for Immunization and Respiratory Disease, and she says that as the trajectory of the outbreak continues, many people in the U.S.
00:13:51.000will at some point in time this year or next be exposed to this virus, and there's a good chance many will become sick.
00:13:56.000The reason to stock up now is to kind of stick close to home.
00:13:59.000Missoni said global data from Japan and South Korea show that people younger than 60 generally have better outcomes if they catch the virus, but people older than 60 are at higher risk for serious illness, especially if they have an underlying health condition like diabetes, heart disease, or lung disease.
00:14:13.000Young people with underlying health problems are also at risk, obviously.
00:14:16.000So one of the reasons why you shouldn't have giant gatherings, presumably, is that even if you are a young person, you come down with it, you're now a carrier.
00:14:22.000So if you got a grandpa or grandma, And then you see grandpa or grandma at a family event next week, you could still transmit the virus to them.
00:14:32.000Happily for me, we are now recommending antisocial behavior.
00:14:34.000As somebody who's not a big event guy, I don't think that...
00:14:41.000I benefit from the fact that now everyone will act like me and not want to hang out with human beings.
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00:16:19.000Mark Meadows, the new chief of staff for President Trump, is self-quarantining because he met the individual who apparently had coronavirus at CPAC.
00:16:27.000There are a bunch of people who have been self-quarantining.
00:16:29.000Obviously, Republican Senator Ted Cruz self-quarantined.
00:16:32.000You saw Paul Gosar from Arizona self-quarantine and then talk about how he would rather die in battle than die of the flu, which is a real weird move.
00:16:39.000They're Washington Post, Politico, and Daily Beast reporters who are all self-quarantining after attending CPAC.
00:16:45.000Everybody is saying sort of out of an abundance of caution, people are staying home.
00:16:49.000Politicos put out a memo saying, we understand this news may be jarring.
00:16:52.000It's important to recognize this was a large conference.
00:16:54.000The risk of transmission for employees who are not in close contact with the infected individual is incredibly low.
00:17:14.000Surgeon General yesterday explaining that young people Are more likely to die of the flu than coronavirus.
00:17:19.000So if you're young, you don't really have to worry about coronavirus killing you.
00:17:22.000The only thing that we're really worried about is that you become a carrier or transmitter of coronavirus, and then you carry it to an older person.
00:17:29.000If you are a child or young adult, you are more likely to die from the flu, if you get it, than you are to die from coronavirus.
00:17:38.000So there is something about being young that is protective.
00:17:41.000We want people to be reassured by that.
00:17:44.000We want people to know that we are really focusing in Right, and this is, it's really interesting to see sort of how the societal ramifications of coronavirus go.
00:17:59.000And we'll get to the economic ramifications in just a second, but in terms of some of the social ramifications, one of the big things that has cropped up here is that nursing homes are going to be just ravaged by coronavirus in all likelihood.
00:18:10.000And the fact is that if you have a parent in a nursing home, that these places are just factories for germs in many cases.
00:18:15.000I mean, we've already known this with regard to things like flu, but when it comes to coronavirus, I mean, there's this nursing home in Washington State, and nearly all of the deaths have been at this one nursing home.
00:18:25.000If you have a bunch of elderly people in close proximity to one another in places where bodily fluids are being spread, then the chances of disease are much, much higher, and that's why those areas really should be monitored.
00:18:36.000Our society has really shuttled old people more and more into nursing homes and assisted living facilities, and you may see, I think over time, as the danger of stuff like this becomes apparent, you may see more and more people say, I'd rather keep mom and dad living in the guest bedroom, and we'll get them the help that they need at home.
00:18:53.000Which, by the way, was sort of the model of life for several thousand years, up until we started basically paying a group of people to take care of the elderly in American society and abroad.
00:19:03.000Meanwhile, again, none of this is to suggest that the press has been responsible on all this.
00:19:08.000The press is not being particularly responsible on all of this.
00:19:11.000They're sort of pushing an alarmist attitude toward all this.
00:19:15.000Yesterday, there were headlines suggesting that President Trump had run out of the room when asked if he had come down with coronavirus or if he'd been tested with coronavirus.
00:19:25.000First of all, if you think the President of the United States' health is not being monitored, you're out of your mind.
00:19:29.000He's the President of the United States.
00:19:30.000Of course, he probably has been tested for coronavirus if he came in contact with anyone who had it, but it is just indicative of the press coverage, the hysteria of the press coverage, that the headline that came out of this little tete-a-tete here was that President Trump was running away from questions as though the top levels of the U.S.
00:20:21.000The Dow Jones Industrial Average has risen, at least in early morning trading, above 24,000, but seems to be stagnating right around 24,000 because nobody knows exactly what is going to happen.
00:20:32.000Originally, the market itself did trigger that key market circuit breaker.
00:20:35.000Like 15 minutes in, there's this new procedure that basically Everybody pauses for 15 minutes to calm their asses down, and then we move on with the trading day.
00:20:44.000It did seem to calm the market a little bit.
00:20:45.000The market dropped a little bit from there, but that was basically to prohibit a sort of follow-on effect that happened in 2007-2008, when there are all sorts of mechanisms in place that if the market starts to drop precipitously, there are automated mechanisms at a lot of companies where they will just start selling stock because they're afraid of a stock market drop, so they actually cause the stock market drop because of instant trading fears.
00:21:05.000Also, again, worthwhile noting that the market drop was not solely about coronavirus.
00:21:10.000A lot of it was about Saudi Arabia and its ongoing oil battles with Russia.
00:21:15.000Saudi Arabia and the Russians were going to agree to increase the output in order to compete with U.S.
00:21:46.000But in terms of the energy companies, obviously that is going to pound their stock.
00:21:50.000The economy is also facing some serious headwinds because of the global supply lines that are still throughout China.
00:21:55.000You know, the fact is that we're not going to know the economic impact of coronavirus until China opens up its factories again.
00:22:01.000Right now, China's factories still remain largely closed.
00:22:03.000So while coronavirus diagnoses are going down, the question is, how long are these factories going to remain closed?
00:22:08.000How long are those global supply lines going to remain clogged up before the economy starts to flow fairly freely?
00:22:15.000Again, and this has led some people to suggest, well, globalization was a bad idea.
00:22:18.000Well, no, globalization was a pretty good idea.
00:22:21.000The only question is whether you really should have relied on that factory in China alone.
00:22:25.000What you're not going to see is return to autarky, right?
00:22:27.000We're going to bring all the factories back to the United States.
00:22:29.000Instead, what you're going to see is duplicative factory capacity with flexibility in various areas of the globe.
00:22:35.000So if you're going to build a factory in China, you probably will also build the capacity to have a flexible factory someplace else on planet Earth in case China gets hit.
00:22:43.000You're going to see people create duplicative supply lines in order so that this sort of thing does not happen again.
00:22:48.000Now, does this thing end in like a serious recession?
00:22:54.000I doubt that we're going to end up in a serious recession because of all of this, because I think the coronavirus over the next several months is going to mitigate.
00:22:59.000I think the people are going to get this under control.
00:23:01.000I think the transmissions are going to drop.
00:23:03.000I think the number of cases are going to drop.
00:23:18.000All of that will help drop the spread.
00:23:20.000If that happens, people will go back to work, people will start buying things again, because they're really not huge systemic economic problems in the United States.
00:23:26.000There are in Europe, there are in China, but those problems have been longstanding.
00:23:30.000You know, the idea that the entire world economy is gonna fall into recession simply because of coronavirus, if this thing only lasts three or four months, I don't think that that is likely to be the case.
00:23:38.000Instead, you'll probably get a V-shaped recovery.
00:23:40.000Nonetheless, people are worried about all of this.
00:23:43.000People are worried specifically about a credit crunch that a lot of businesses that are operating right at the margins are going to go under, that a lot of businesses that can't afford to last three or four months without significant income are going to get hit.
00:23:54.000We're going to talk about all of that and the Trump administration's supposed response to all of that.
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00:25:06.000Okay, so what are the underlying economic issues?
00:25:09.000Well, again, you have the European governments that have basically been having stagnant growth rates for a decade or more.
00:25:15.000You've had China, which has been wildly overestimating its growth rates for a very long time based on debt-led growth.
00:25:20.000In the United States, we've been spending out the wazoo, right?
00:25:23.000These debt issues eventually are going to come due because what exactly is the appetite for more debt if it appears that we're never going to pay it off?
00:25:29.000With all of that said, If this thing were to mitigate in fairly short order, then you will see a V-shaped recovery and it will not be an issue by the time of the election.
00:25:39.000You're starting to see the Trump administration talk about what government measures they are looking at.
00:25:42.000Some of these are a good idea, some of these are a bad idea.
00:25:44.000Some of the good ideas are, for example, Barack Obama did this in 2011-2012, would be a brief payroll tax holiday, meaning you get to delay paying your taxes on a quarterly basis if you're a small company.
00:25:55.000This makes a lot of sense, because the government doesn't need to suck up more of your taxpayer dollars, they actually need your dollars to go to your employees.
00:26:02.000You need to continue paying your employees.
00:26:04.000They're saying, you're still going to have to pay taxes on the back end, but we're going to take a payroll tax holiday for the moment.
00:26:11.000Anything that lowers taxes in the face of this is a good idea, so we can continue paying our employees, for example.
00:26:16.000Anything that is a specific subsidy to specific industries, that is a bad idea.
00:26:20.000The reason that's a bad idea is because it is now suggesting that some industries are more important than other industries, which is not true.
00:26:26.000It is creating a perverse incentive for industries to operate right at the margin, right at the margin.
00:26:33.000So if they take a real hit, then all of a sudden they're looking to the government for a bailout.
00:26:37.000And that's not how you want to run a business.
00:26:38.000You want to run a business in both a risk-seeking fashion where it is appropriate, but also a risk-averse fashion in terms of making sure that your business remains profitable.
00:26:46.000Creating incentive structures where businesses are right on the verge of going under every other minute, and then they look to the taxpayer to bail them out is a real mistake.
00:26:54.000So President Trump yesterday did a press conference.
00:26:56.000He laid out some of the government measures that were possibly on the table.
00:26:58.000Here was the President of the United States yesterday.
00:27:01.000We're going to be meeting with House Republicans, Mitch McConnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief, very substantial relief.
00:27:16.000We're also going to be talking about hourly wage earners getting.
00:27:22.000Okay, so some of these ideas are fairly good.
00:27:37.000I don't know what that hourly wage policy that he's talking about actually looks like.
00:27:41.000Is he just talking about, again, delaying taxes on companies so that the companies can afford to pay their hourly wage earners?
00:27:48.000If so, again, I don't see that as a huge problem.
00:27:50.000If we are talking about the government stepping in and basically increasing unemployment, even that is not necessarily the end of the world for the moment, but that's not, like, I'm not clear on exactly what the policy is.
00:28:00.000Hopefully we'll see some details and then we'll know where we stand on all of it.
00:28:03.000He said he was seeking to provide assistance.
00:28:05.000This is the part where I start to get a little uptight.
00:28:07.000The president also said he was seeking to provide assistance to the airline, hotel, and cruise industries, which are all suffering as Americans rapidly cancel travel plans.
00:28:38.000And by the way, the airline tickets, they are priced down and out.
00:28:41.000Meaning that if you buy tickets like seven months from now, then now is a great time to buy those tickets.
00:28:46.000And I'll be honest, I just bought some airline tickets yesterday.
00:28:48.000I mean, I looked at the prices and I was thinking, okay, where do I want to go on vacation with my family later this year?
00:28:53.000You know, assuming the coronavirus lets up, which in all likelihood it will, the prices are going down, right?
00:28:58.000I mean, the market is taking an effect.
00:28:59.000Prices are going down, and that means some buying opportunities for people.
00:29:02.000By the way, this is also true in the stock market.
00:29:03.000You saw a lot of headlines yesterday about investors losing billions and billions and trillions of dollars yesterday because of the stock market dropping.
00:29:10.000Okay, if you're a smart investor, I'll tell you how much money you lost yesterday.
00:29:14.000The reason you lost big old zero yesterday, and maybe you made money, is because if you are a major investor, you did not sell your stocks yesterday.
00:29:21.000It is probably marginal investors who largely sold their stocks.
00:29:24.000It is not major investors who are, like Warren Buffett was not sitting around yesterday going, oh no, the stock market's dropping, I'm selling all of my stocks for less than I paid for them.
00:29:31.000I remember Buffett once got asked about 2007, 2008, how much money he lost.
00:29:35.000He said, I didn't lose an arm, I didn't sell anything.
00:29:37.000It's like when the real estate market goes down, if you own a house, did you just lose money when the real estate market went down if you didn't sell your house?
00:29:43.000The answer is no, you didn't lose any money because you didn't sell your house.
00:29:46.000Right, the price is independent of you actually realizing the price in the open market.
00:29:50.000Now, it's unclear, based on President Trump's comments, whether he's going to ask Congress to help these industries or if he thinks he can do it on his own.
00:30:01.000In certain crisis situations, there's a case to be made that the bailout of the banks was simply necessary in 2008 because all of these banks were already government dependent.
00:30:11.000And because they were already government dependent, and because the risk had already been diffused throughout the economy thanks to government malfeasance over the past decade and a half, That the government basically had to step in at that point to prevent complete collapse, but that is just because the government intervened too much in the first place.
00:30:25.000The fact is, if you are in the airline industry and you are taking a hit, well, them's the consequences of living in a real world where sometimes demand goes up and sometimes demand goes down.
00:30:36.000And if, by the way, these businesses were operating at the margins, if these businesses were operating in irresponsible fashion in the sense that they're gonna go bankrupt if they are not bailed out, guess what?
00:30:46.000I promise you, there are plenty of people who are willing to buy hotel chains and are willing to invest in hotel chains and buy a share and re-infuse with cash on the assumption that coronavirus is gonna let up in six months.
00:30:56.000So bailouts, this is one of the great misnomers about bailouts, is that bailouts prevent companies from going completely defunct.
00:31:02.000When the auto companies were bailed out, the choice was not between those auto companies being bailed out and the auto companies simply not existing anymore.
00:31:08.000The choice was between the auto companies being bailed out and investors coming in and buying the auto companies and treating them in a different way.
00:31:15.000When a company goes bankrupt, that does not mean that the company closes its doors.
00:31:19.000It just means they have to sell off their assets in order to pay off debtors.
00:31:22.000And it also means that somebody comes in and picks up the company.
00:31:25.000Somebody new comes in and invests in the company.
00:31:27.000So, bailouts are not the answer to this particular problem.
00:31:31.000A payroll tax holiday is a different sort of thing because that is just the government saying, we're not going to... That is the government taking its boot off your throat.
00:31:38.000That is not the government actively injecting you with steroids.
00:31:41.000So, there's a big difference in kind between those two things.
00:31:45.000In just a second, we're going to get to Chuck Schumer, who's ripping on Trump, and we'll get to the politics of all of this in just one second.
00:31:50.000First, The Daily Wire's own Andrew Klavan has released the second entry in his Another Kingdom trilogy, The Nightmare Feast.
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00:33:08.000Now, again, the Democrats are trying to make hay out of all of this.
00:33:16.000They're suggesting that Trump has completely botched the response.
00:33:19.000Again, Trump's public attitude toward all of this has not been wonderful.
00:33:23.000I mean, you don't want him tweeting, you don't want him... I talked about this yesterday.
00:33:26.000He really should be quiet and let his experts talk.
00:33:28.000His experts know what they are talking about.
00:33:30.000But the generalized perception that the Trump administration has blown it That obviously is not true.
00:33:35.000Chuck Schumer is trying to promote that idea, of course, because the opposition party always tries to make it seem that the party in power is blowing it when it comes to public crises.
00:33:42.000Here's Chuck Schumer trying to call Trump's response slipshod.
00:33:45.000The federal government's initial response to the coronavirus was slipshod, at best.
00:33:51.000It has greatly hurt the country, and it falls at the feet of the president.
00:34:19.000Everybody is sort of assuming that the coronavirus stuff could really hurt Trump.
00:34:22.000The more Trump talks about it, the more it hurts him.
00:34:23.000But, all in all, the approval of his actions is exactly equal to his approval rating.
00:34:28.000In other words, everything seems to be priced in with Trump.
00:34:30.000Like, literally all the things seem to be priced in with President Trump.
00:34:33.000A new poll from Quinnipiac shows President Trump's overall approval rating at 54% is approved to 41% approved.
00:34:39.000The poll finds that 53% have confidence in the Fed's responsibility to handle the response, the federal government's ability to handle the response.
00:36:19.000So Biden is going to finish Bernie off today and that will be the end of Bernie Sanders.
00:36:24.000Meanwhile, some of the further states like Florida are really, really looking bad for Bernie Sanders.
00:36:31.000So Bernie is desperately trying to regain momentum, but he basically has nothing.
00:36:37.000It's important to remember, guys, that the Bernie Sanders popularity in 2016 was largely based on running against Hillary Clinton.
00:36:42.000It turns out the best thing you can ever do is run against Hillary Clinton.
00:36:44.000With the exception of Rick Lazio, every other politician who has ever run against Hillary Clinton, Barack Obama, The Barack Obama, Bernie Sanders, Donald Trump, every politician who has ever run against Hillary Clinton has done really well.
00:36:58.000I mean, here's a good indicator of that.
00:36:59.000Bernie Sanders yesterday did a town hall on Fox News and he's asked about Hillary Clinton and the crowd boo's Hillary because people just hate Hillary Clinton.
00:37:06.000I mean, there's just no two ways about it.
00:39:05.000I'm talking about countries all over the world who have used their government to try to improve life for working families, not just the people on top.
00:39:14.000If you look at examples in Sweden and Denmark, They have been lowering or cutting property taxes, lowering corporate taxes, allowing vouchers for schools, for public schools.
00:39:25.000So they appear to be moving away more towards market reform and not towards what you're describing you'd like to see here.
00:39:32.000And Bernie's like, well, I don't know about that.
00:39:35.000One of the most hilarious things about Bernie Sanders' socialism is that he picks a bunch of capitalist countries and then says how wonderful their socialism is.
00:39:43.000By the way, all the talk about the Trump administration mishandling coronavirus, it is largely focused on Trump's rhetoric for a reason.
00:39:50.000And the reason that people are largely focused on Trump's rhetoric with regard to coronavirus is specifically because if they focused on his action, the Democrats have nothing better.
00:39:57.000In fact, Bernie Sanders' program, he says, I should be the head of the government because I'd handle coronavirus better.
00:40:02.000And then he proceeds to say one of the dumbest things in human history about Coronavirus and how to fight it.
00:40:07.000He says he would not close borders in the face of coronavirus, which is a genius move.
00:40:11.000Just every other country in Europe is doing it.
00:40:13.000You have an entire travel shutdown in Italy.
00:40:15.000You have an entire travel shutdown in Israel.
00:40:16.000You're seeing every major country in Europe closing its borders to people who are not tested.
00:40:20.000And Bernie's like, no, I would allow everyone to travel in.
00:40:48.000I mean, what you don't want to do right now, we have a president Who has propagated xenophobic anti-immigrant sentiment from before he was elected.
00:41:00.000What we need to do is have the scientists take a hard look at what we need to do.
00:41:06.000There are communities where the virus is spreading.
00:44:34.000People are suggesting that that Biden's lack of verbal cogency and coherence at this point is due to the fact that he has overcome stuttering, which is an amazing achievement.
00:45:03.000As you age, once you get beyond a certain age, the possibility of cognitive decline is certainly on the table.
00:45:08.000And it's weird to me that all the same people who were suggesting that John McCain was in cognitive decline when he was running for president, and he was significantly younger than Biden in 2008, are now like, oh well, don't talk about Joe Biden.
00:45:19.000Don't talk about his inability to speak clearly.
00:45:24.000It also happens to be true that Joe Biden is a volatile dude himself.
00:45:28.000Today, Joe Biden was speaking to blue-collar union workers in Michigan, and they were asking him about guns, and he just started shouting at them.
00:46:14.000It is a film about what would happen if there were to be coronavirus, but actually as deadly as people seem to panic that coronavirus is.
00:46:20.000If SARS, for example, with a 10% death rate had been, or rather MERS with a 10% death rate, if those, no, SARS had a 10% death rate.
00:46:29.000If SARS with a 10% death rate had hit millions or billions of people instead of hitting a very tiny fraction of the population.
00:46:35.000Here's a little bit of the preview for Contagion, which actually is a very well-researched film in terms of how the federal government would respond to the possibility of something like this.
00:47:20.000There's a reason why this film is doing so well right now in terms of people renting it, and that's because people are freaking out that this is exactly what's going on.
00:47:27.000And again, the depiction is actually fairly accurate.
00:47:29.000It was commented on at the time how well researched this whole thing was.
00:47:35.000Okay, so just know that contagion is not what is actually happening on planet Earth right now.
00:47:38.000We've had a grand total of like 4,000 people dead across the entire planet.
00:47:42.000We've had 100,000 infections, not a billion infections, but that's why people are worried.
00:47:46.000So if you want to watch a super creepy movie that'll scare the living crap out of you in the middle of a panic, then absolutely go check out Contagion.
00:47:52.000Otherwise, maybe avoid Contagion until everybody is done with their panic.
00:47:56.000Okay, time for a couple of quick things that I hate.
00:48:03.000So I am deeply pleased, deeply pleased that Bernie Sanders' campaign will come to an inglorious end today.
00:48:09.000As I've said before, I think it is very good for the country that Bernie Sanders is not going to be the Democratic nominee.
00:48:15.000Having half the American population rally around an old communist who hangs out with people who hate the country and also happen to hate allies like Israel, it's a very good thing we avoided that fate.
00:48:25.000And I think that Donald Trump is in fairly good position against Joe Biden.
00:48:28.000In all the latest polls, he's running even with him in all of those battleground states, which is kind of where he has to be.
00:48:33.000Okay, but the fact is that Bernie Sanders has surrounded himself with the worst people in American politics.
00:48:37.000One of those people, of course, is Representative Rashida Tlaib, who keeps insisting she's not an anti-Semite, even while wearing a shirt that literally erases Israel from existing.
00:48:46.000There's a picture of her holding up Linda Sarsour's new book.
00:48:49.000Okay, Linda Sarsour is an awful anti-Semite in her own right.
00:48:51.000She has stood with actual anti-Semitic terrorists.
00:48:54.000Rashida Tlaib took a picture of herself holding up Linda Sarsour is in the book because they're besties.
00:48:58.000And she's also wearing a shirt that has a picture of the entire land of Israel with Palestinian symbols over it.
00:49:05.000So when she suggests that she is in favor of a quote-unquote one-state solution, right, this is what she said.
00:49:09.000She's not in favor of a two-state solution.
00:49:23.000The shirt literally has, there's no separation between the West Bank and Gaza Strip.
00:49:26.000This is why when people suggest, why doesn't Israel just make territorial deals with the Palestinian Authority, and with Hamas, and with Hezbollah, and with all of these various entities?
00:49:34.000Well, the answer is, because those people want to kill them.
00:49:39.000Rashida Tlaib would love to see the Israeli state wiped completely off the face of the earth.
00:49:45.000There's an online advertisement for the shirt, according to the Free Beacon.
00:49:48.000Stand in solidarity with Palestine by wearing this beautiful Palestine t-shirt.
00:49:51.000An outline map of Palestine is filled with red, white, and green Arabic letters that look stunning from a distance and spell the word Palestine up close.
00:49:58.000A patterned shemach wraps around the neck of the Palestinian state like the brave soldiers whose boots stand on the dusty ground.
00:50:04.000Those brave soldiers, presumably many of those would be terrorists.
00:50:07.000So just what a wonderful, what wonderful people Bernie surrounds himself with.
00:50:13.000By the way, just to note, the people that Bernie Sanders and Rashida Tlaib have sympathy for are the same sorts of people who literally have been sending party balloons bearing bombs into Israel.
00:50:23.000This is a thing the Washington Post reported yesterday.
00:50:28.000The moment Meirav Hania's daughter stopped loving kindergarten came when a cluster of colorful orbs floated toward her playground during recess.
00:50:34.000Balloons had a pleased young Emma, her mother recalled, but another child, one who'd heard warnings from local police, knew better.
00:50:39.000In recent months, hundreds of booby-trapped balloons, sometimes bearing the messages, I love you and happy birthday, along with small IEDs dangling by a string, have descended on this or other communities downwind of the nearby Gaza Strip, according to Israeli police.
00:50:53.000They're not seeking to kill Israeli soldiers.
00:50:54.000They're not seeking to do military damage.
00:50:57.000When you set balloons that say happy birthday on them into populated areas with bombs connected to them, can you think of anything really more evil than that?
00:51:06.000It's hard to think of things that are more evil than that, really.
00:51:08.000Most of these are landing in open countryside.
00:51:16.000Still, the escalation of this drifting menace has taxed police departments, disrupted daily life, and taken a psychological toll who live within reach of the Gaza Breeze.
00:51:26.000The purpose, of course, is to kill children.
00:51:30.000But don't worry, there's a peace deal to be made and it's only Jewish intransigence that is causing all this.
00:51:35.000Probably Israel should just open its borders.
00:51:37.000Probably Israel should just let all the people who are floating balloons with IEDs cross the border or at least let in groups of people without any sort of screening so that those people can just enter Israel.
00:52:01.000It's the holiday where Jews read the Megillah.
00:52:03.000The Megillah is a story of an anti-Semitic regime that seeks to wipe the Jews off the face of the planet and is thwarted only by the decisive action of Queen Esther, who is a Jew who's roped into marriage to the king of Persia, is how the basic story goes.
00:52:18.000And her uncle, who's advisor to the king, Mordecai, stops another advisor, Haman, from carrying out this genocidal wave of hatred against the Jews.
00:52:27.000And the reason that Purim remains a relevant holiday is because the name of God is not mentioned anywhere, anywhere in the Megillah.
00:52:33.000The name of God is not mentioned anywhere in the entire Megillah.
00:52:35.000The reason being, it is the most modern of all of the Jewish texts in terms of its content.
00:52:41.000Meaning, it basically suggests That antisemitism is only thwarted on a realistic level in today's world by the concerted action of politically oriented people who understand true threats and who are not going to be put off by lies.
00:52:54.000So the fact that we read the Megillah every year is a reminder that genocidal antisemitism still exists.
00:53:03.000And that anybody who refuses to acknowledge that is going to have to be convinced on a political level of the reality of that situation.
00:53:10.000Because people tend to believe that evil anti-semitism is only a figment of the past, or that anti-semitism only exists when it's an a-hole waving a Nazi flag at a Bernie Sanders rally.
00:53:20.000But the fact is, anti-semitism is very alive, it is very well, and genocidal anti-semitism is overlooked by large swaths of the West, particularly at the highest levels of politics.
00:53:30.000Because Bernie Sanders, who has been called a victim of anti-semitism, Which on a broad level is ridiculous.
00:53:36.000Bernie Sanders is a propagator of anti-Semitism.
00:53:39.000I am very, very glad to see Bernie Sanders' campaign end today.
00:53:42.000It is well deserved, and hopefully he goes back to the earned obscurity that he so richly deserves over the course of 80 useless years on planet Earth.
00:53:50.000Worse than useless, counterproductive years on planet Earth.
00:53:53.000Alrighty, we'll be here a little bit later today with all of your updates, and then we'll be back here tomorrow.
00:53:57.000I'm Ben Shapiro, this is The Ben Shapiro Show.
00:54:03.000The Ben Shapiro Show is produced by Colton Haas.
00:54:29.000Democrats in six states head to the primaries today, and polling shows Biden might blow Bernie out of the water within just a matter of hours.
00:54:36.000We will examine the latest data on Joe's chances in November.
00:54:40.000Then, pundits on all sides attack the president for his response to the flu-man-shoe outbreak.
00:54:44.000But a very important group, much more important than the chattering class, thinks President Trump is doing just fine.
00:54:49.000Finally, a woman asked Slate if she should tell her husband to stop sleeping with his girlfriend to stop coronavirus from spreading to her mother.
00:54:56.000We will break down this woman's problems, our culture's problems, both biological and social.