The good morning and welcome to morning Joe, it is friday, may twentieth. We begin with live pictures from south korea. Right now, president Biden is touring a samsung plant with the korean president. He arrived in the country this morning, the first one, of his six day tour of asia. This plant makes computer chips and as a model for a facility being built in texas. The president is expected to read make remarks and will be watching that dip enlivened will discuss the message. The president hopes this trip overall sends to china plus new reporting on the mid term, Donald trump leaves pet a republicans fuming, while in georgia

former president reportedly abandoned his struggling pick for governor just left him and that just left him in the dust that comes. I know no loyalty, things go bad and he throws them under the gosh that are shocking. Everyone who has ever dealt with and the lettuce on the war in ukraine, british intelligence reports that russia has been firing high level commanders over the a terrorist poor, perform who knew won't talk a lot more about that alone. Joe william me on this friday morning. We have: u s special correspondent for BBC news, catty k com, as assessing editor for the washington, post's did Ignatius and a host of way to world jonathan le maire. He is white house bureau chiefs at police Well we're gonna get lotta news here, but I must say Jonathan than I stood, shocked story denied and major league baseball last night is a little engine that could just one

half notched up the hill and said I think I can Jonathan then the quick run down. Story, the red, sox, much ballyhooed and very expensive. Offseason acquisition, let's say, is off to a slow start hearing the boos at fenway already, but last night, not one, not two, three home runs from mister storey: seven rb, I red sox, roll over the mariners and don't look now playing a little better. They want two out of three against texas. They want two out of three against the astros, despite the astros, installing a drum at fenway park, to beat any time Nathan of all the threw a pitch, they knew what was coming and they won last night Joe. We, it should be noted that tell this plan bandit underdogs here and red sox are sharing to capture the nations heart in their heart of hearts and minds,

I there's still an approximately one hundred and eighty seven games behind the new york yankees. Well and again we know the yankees are going to win. I mean you paid that much money. Will he deserved a win? I guess that's the way people think about it when your yankee fans, but you know we're we we make- we make it good, just a notch ahead of the orioles this year. That's that's what Jonathan and I are excited about, respecting the place for still making that argument. Despite the fact that you joined the dark side many many years ago for overpaying for overrated stars literally he's lost the game. Last night, a shocking development. He saw the game we're going to have a closed door team meeting today. Some quiet prayer and reflection, just think about whether or not we want to play for this ball team before we host the white sox this weekend. So one lots for the yankees. Luckily was still a dozen games ahead of those red sox.

Yeah. That's exhaustingly is exhausting, we'll talk about it more obvious slang. Let's get to the news there still now, winner in pennsylvania, republicans senate primary this morning with state officials confirming to NBC news. There are nearly nine thousand, votes laughed account, but the effects at home says it's over yeah trumpet saying this guard all the republican votes. That having been counted yet throw away his come on us, be like me, call it now, In fact, some former president trumps handling of this race and other primaries in this date could hurt his political capital in the future and beijing news reports quote: exists aspirated republicans in the state, say the end result promoting candidates with far right views with such intensive media coverage

boomerang in ways that damage both the party and trumps own chances. Should he run for president and twenty twenty four? You think you think some state republicans also told them bc. They were upset with trumps suggestion that his back to candidate dr Mehmet oz just declare victory, calling it shocking for trump to call for cancelling republican, balanced shocking. He wants to cancel democratic, if and balance from predominantly black areas in twenty twenty, but they find it shocking. I guess that he wants to cancel republican valets now interesting shining all, but only if you haven't spent five minutes around donald trump. Meanwhile, where does days away from georgia republican gubernatorial primary informer, senator David Purdue may have donald trump. As its biggest supporter three republicans spoken to tromp tell NBC news. The former president is disappointing

and produce lack lustre campaign effort and will not making any more personal appearances in georgia on behalf of produce this week, a fox Paul had the incumbent governor Brian camp, holding a thirty two point led overproduce, and these VON Hilliard spoke to Purdue about those numbers. Yesterday, your If the pain has gone off, the tv airwaves, the former president, has not come in for a final rally and you are down by three percentage points in the polls. What's happened to your campaign, personal where'd, you get the fox news poll where they are not down the hill know about them for anybody to come out and talk about thirty point comeback remind me that two women I went back here to report nor I wear this now the author of those reports of transylvania, the georgia raises see your national political report afraid bc news

the brutal you no more. I get so interesting. I love the juxtaposition between pennsylvania. Republicans in that story with some people may be skeptical of and then going down in georgia and into the trap and doors candidate. That's getting pounded pennsylvania, republicans, reading your story and hearing other things out of pennsylvania There sat on a lot like georgia, republicans did in twenty twenty after tromp cost them not only those two senate seats, but all cause them the majority in the senate. It seems that republicans do not forget. They haven't forgotten and in Georgia brushed him aside in a most dramatic way, prince Pennsylvania, maybe next year, Your hearing, this not only in these states but a few other states, but trump has just trade. A lot of us fire in georgia, swear. You first started to hear this sort of weariness and one of them

that struck us when we wrote this peace and pennsylvania. Was that similar tone that similar sense of weariness that republicans have an interesting example how all politics are just local, but there also national One of the georgia republicans, we spoke to said. Look we just want to the kind of state as wages back off a bed. Chair of jasper, counties, geo pay, and she said that People in georgia were upset the trump endorsed oz, in pennsylvania and just just gotta gives you an idea that conservatives are paying attention to these races, not only in their own states that sort of nationwide and again this is a little sense of frustration. I don't want to misrepresent that troubles unpopular in the glp he's not he's very popular but again you're just seeing a little bit of this sort of internal like give us a little minute. Let us make our own decisions and canada your own primaries without out all of us outside pressure and heat

yeah. But you know that really every time from candidate wines have, I think the media makes such a huge deal about it. He picked a crazy governor, gubernatorial toro can pennsylvania that was on his way to winning anyway, which is why tromp jumped on the bandwagon there, but let's just back very quickly in alabama, he selected mo brooks guy. He was there on January six, a guy that was helping spread the lies about stolen elections mo brought and take off of others like we don't care, whether you like more brooks or not he's candidates, so his candidacy starts to fail, trot abandoned some. That's one loss in alabama this state, where he supposedly the strongest idealism them go to georgia. A huge race for governor camp was enemy number one for donald trump. We data, the clips saying that he might even vote for stacy abrams over catholic because he thought he was such a loser? Camp is washing Former. U S, senator David

it was very popular, senator there's another example of it: I'm gonna the pennsylvania yeah eyes is tied right now, with Mccormick here, trashed mccormick, he said born at wasn't, ready to be united states senator and yet two thirds of republicans in pennsylvania voted against donald trump, two thirds in there This is going down to the very end nebraska. We talked about how the governor there, the rickets operation, where over donald trump destroyed is candidate, and then you go to idaho the crazy lieutenant governor there and, I will say, crazy. Lieutenant governor there Donald trump supported what She lost and I one of the red estates in america so so again I'm not saying. Donald trump doesn't have sway the republican party, but I'll tell you, It's nothing like. It was twenty twenty and I think the media needs to focus more on those massive losses. Instead of having the headlines about that,

is: is endorsement really mean something significant cause, I'm not so sure does this year be clear about doug mastery anodyne. Can they republican nominee for governor now in the state of pennsylvania, Donald trump andersson on Saturday? This saturday, four days before election day. It's nike propelled him their master anna was gonna win anyway and donald trump pop than the bandwagon. The way he's having off the produce bandwagon when he sees it's not going his way, you're right, it's a mixed bag. J D vance, on the other hand, in Ohio most be I believe he won because download from came in and endorse him and pushed him over the finish line. So it is, it depends on the razor depends on the state of market put up in this pennsylvania, the gnp official that you quote says basically by

scheme dot by asking member states to declare victory. Donald trump is effectively cancelling those two thirds of the votes that Joe just talked about republican votes. So what is the past year? I mean it again. It is different in every race in every state, but what is the pasture broadly of these state parties toward donald trump? As you look at pennsylvania- and you look at georgia or if you like, pennsylvania state party there. There is I quoted is roughly two former chair of the party there. There is just a lot of current disappoint with em there's a lot of soul searching in hand wringing like, should we gotten of? Should we ve gotten involved the pencil, then europe will look and geo piercing and tried coalesce behind candidate than mastery honour, because I just I believe it's a wily. They don't believe that Macedonia can wait in the general election in georgia, a different story, the it's a very trumpian chair of the g o p there and there's been a bit of a georgia civil war within the republican party and kind of within the republican establishment. Ever since twenty, certainly since the twenty twenty elections. The

the chair, there is just well known as just wanting to do whatever trump wants to do and has endorsed and support kind of an entire slate of state wide candidates in georgia now going to walk away as a winner from georgia, Alicia fashion himself as one because of herschel walker he's expecting big blow out when, for you are set at their football star trump. Credit him to run for senate in georgia and you're gonna hear a lot about that out of dull shows mouth in you're, not gonna, hear a lot about purdue. In fact, there is one of the the advisers we spoke to send donald has done more to elect David produce than David purdue trouble we believe that produce work ethic has been kind of shoddy and some of them publicans and other races when we discuss produce with them? One can only told me look departments purdue as purdue, and he doesn't really like campaigning. He doesn't really like voters, he doesn't really like raising money and talking to donors and he doesn't really like giving campaign speeches. That's kind of a problem

If you're gonna run a state. Why campaign and part of the result of what we are seeing in the polls so far with can't dominating him just that fact that Purdue probable just wasn't. The right candidate This just wasn't the right time to take on a republican candidate. Governor camp in this year. When he's running for reelection Well, of course, is Alex points out donald criticising somebody's work ethic. That's laughable considering the man, too much executive time on this answer. Your watch cable, no law there watching and tweeting all president as long as he could and be seized, markup udo. Thank you so much for your reporting this morning. We appreciate it now to ukraine. The Senate has overwhelmingly approved forty billion dollars in aid for ukraine, making it the largest foreign aid package, passed by congress in at least two decades, the

Six to eleven vote with all the name is coming from. Republicans reflects the overwhelming by partisan support for the massive assistance, the package which includes money for advanced weapons systems and general economic aid brings total, u s. Investment in ukraine to around fifty four billion. dollars president Biden plotted the passage of the bill, saying it sends a quote clear bipartisan message to the world that the people of the united states stand together with the brave people of ukraine, he is expected to quickly sign it into law. Ahead of the vote senate minority leader mitch, Mcconnell made another strong push for its passage, saying vote. Anyone concerned about the cost should consider the much larger cost should ukraine lose designations. Yesterday, the new york times lead editorial suggested that this war was about to get more complicated and americans weren't ready for them curious. What are your

what about where this forty billion dollar package puts us. and where the united states increased commitment puts america such joe I that the times is right, that the endless wars is complicated. It's hard to see how this war will end russia there were remains all in at least in eastern ukraine. Ukrainians are more convinced than ever that they can drive russian forces out of there. three, the interest that that the credit and president Zelensky Wednesday had in a negotiated settlement two months ago and that at the first month of war, seems much less. So I think need the end game is is is hard to understand. What's clear is that the united states is fully behind ukraine in this by partisan, show support present. I can go abroad as he is on his trip, but this this week to asia ants and say with confidence in the united states, both parties still

together and supporting our ally can talk about america's reliability more convincingly than he sometimes is able to given, given our political divisions at home, but Thus, the simple point, Joe, is that we are pumping weapons in the ukraine it in an unprecedented way. The russian do not seem to be pulling back in the areas I decided to try to dominate they're coming at the dawn at the the southeast as hard as ever. The big fight, if it happens, is going to be on the black sea coast for odessa. We don't know yet whether the russians think there is strong enough to go after that, but the lot a lot of very heavy fighting. It had well defined continues inside ukraine. Nato is only getting stronger finland in sweden's pushed to join nato as president Biden's full support. He back the two countries strongly yesterday after meeting with the finnish president and the swedish prime minister at the white house no one make a mistake.

The meaning to this historic day in the face of aggression. it has not gone weaker or more divided, gone stronger more united with finland. and Sweden's decision to request should we nato will be enhanced for all time. Standing together today reject the bloody create that might makes right, and we claire, morph, more powerful creed, all for one for all. Finland and sweden have near unanimous support for nato membership from western allies. Turkey is the only country that has objected the turkish government, choose finland and sweden of supporting a group it considers to be kurdish terrorists. At the white house yesterday, Finland's present said his country condemns terrorism in all its forms and is open to discussing all the concerns. Turkey may

have jotham mere turkey exercising the leverage there. Perhaps, but we are on the area yesterday talking about this when finland and sweden. The leaders of those two countries visit with president Biden, I think very mccaffrey, general mccaffrey, called it monumental, to see those two nations joining nato, something that perhaps even two or three months ago with something vladimir, certainly didn't imagine nasser Our prudent wants history with this innovation. Any has, but just not the kind he wanted. I was in the rose garden yesterday when the president made those remarks. That's it was such a show of force of have enough support that the present leaning every image until he could to say hey. This is what we want. Sweden and Finland should be an. U s. Officials have told me repeatedly, yes, sir, some sort of deal to be struck with turkey, but they do anticipate that turkey will eventually let go of their objections, potentially even in time for that NATO summit, which are scheduled in late june in Madrid kind kay

It is indeed monumental and reshaping europe, and we have seen. I know there are some questions and concerns about whether the alliance can stay, so closely knit if this work stands for months or years, which some think it could, but just to us right now. If you will about the state of play in europe and how it has rallied together to support peace against moscow. Yes, Finland joining nato is the most I think is the most. the profound occasion that europe has gone for a radical shift since the invasion of ukraine. You had germany deciding to drop the Nord stream to pipeline you, Jim, deciding to up its defence budget by two percent to two percent of gdp. very big steps, but sweden and night and finland joining nato fundamentally region the alliance and reshapes european security. and a sense and a sense of the west, very firmly. You know

it is in a position to russia's invasion of ukraine, but I opposition also to russia's any moves in this this goals. Nato's border with russia overnight and and had a they a hundred miles border with russia. It makes me oh right up against russia. They are very close to the area, russia, whether our nuclear submarines, sweden, has a very effective knave. Finland has very good military now, when I've spoken to and about this saves This is not because we feel anxious about russia is because we want to prevent further aggression is this idea of NATO is a defensive organization, but make no mistake about it. Russia is going to see this as an aggressive move, and it is it's it's it's. Europe flexing its muscle and uniting even further in the face of russian aggression

willing and David Ignatius put it in context for because we ve talked of course, for a month now, Germany is talking about the biggest. Expansion of the military budget since nineteen forty five we've talked about the fact that they're going to have a military now, a military budget larger than russia's when they followed through those commitments. We ve talked about switzerland, who is neutral during world war, two even in the face of nazi horse, now king sides, if this latest development, finland and sweden as as it will says it turns out the sea into a nato way. Can you just look at the map and you look at estonia and latvia and lithuania. the southern side of the baltic, and then you look at things in Sweden. It really is extraordinary it. We whites just when he frames. The entire map, strategically, like

very few things we ve seen other than the massive changes and nineteen eighty nine, so I think it's fair to say that there has been a fundamental shift in the bow. the power in europe and by extension globally, russia, with a blunder that historians will study for decades, has walked into a war that it cannot win how it ends we not now, but we can. Pretty certain that russia wanted she skulls, it is produced degree of unity that several years ago would have been a fantasy. If I had told you that that nato would be roaring ahead and germans would be committed to ever greater defense spending and that the these nordic countries would be joining, you would have laughed at me. You would have said as much as french president a crowded several years ago, NATO's brain dead,

brain that any more. It is a powerful alliance. Resonating around the world talking to people in asia the last several days as they prepare for present binds visit. I was struck by the way in which they too are influenced. Both by russia's aggression, china's willingness to condone russia's aggression, and by the shift in the balance of power, it's always wants to say the: u s! Business partnerships are the strongest force for ordering the world, sometimes that just isn't believable right now. In the after of ukraine. With this extraordinary unity, new members joining nato, it is credible and people are listening it is credible because its laughing remember several years ago foreign affairs sat on its cover mika the rise in the auto crowds- and I said you know

a joke with Richard Hoss. I said this is like a sports illustrated jenks Ulysses autocrat on the cover and talk about. This is the future of world politics. You have just jigs daughter, I did know how long it was going to take but I want to follow up with David and caddy. Just said David, exactly right, you have russia who it is bankrupt as they could be as far as a politically bankrupt across the globe. china, whose kept themselves in a terrible position whose, we can now. They ve been in some time who s a disastrous covert policy who has disastrous internal policies and, and then look at europe and caddy said something we really should focus on a continent that is lifted, the shadow of two world wars in the twentieth century look the shadow of over a hundred million people dying in those two world wars, in the shadow of a whole cause live in the shadow of the horrors of stalin of hitler.

This is a car that now, for the first time since world war, two they are like their muscle. and as we said here on the show for quite some time, We worry all the time about the rise of the autocrat, so rise of china, russia. Combine. America's gdp use gdp and a great Britain's gdp and you ve got. Gdp of forty trillion dollars a year compared to about one point four trillion dollars a year with russia. half of that in china The strength of these partnerships and these alliances is paramount, and that has been proven. But another aspect of this, which will get too I'm sure, is how this war is going to have an impact on the? U s economy the globe, economy and that's gonna pose problems. I would, I would prefer for democrats and for president Biden politically, because its be very hard to explain to the american voter why

of this investment, a bride investment in these lines is, is that important when they can't get through the weak, but that's gonna be the other, and yet you look at republicans and democrats alike. I think they will be made the decision that that they cannot allow, furthermore, put in the way, because the cost of that will be. I think over time the challenge comes coming up on morning, Joe Russia has renewed its offensive and ukraine's

He turned dumbass region, retired army general, David portray us join, says with his expert military analysis, plus the head of the FDA, gets pressed on the question of millions of parents want to know the answer to when, when we'll baby formula be back on, store shelves, but he had to say to law makers on capitol hill yesterday. Also this morning a republican congressmen acknowledges letting people into the capital complex the day before the january. Six than do you deny bouquet denied a t lied land. That's a rat. Why would he lie about letting people in capital, the day before I dont, understand the house. Like many hasn't question my body. That is what I think I have your question and former new york city mayor bill deposits will be our gas tat, has a big announcement this morning you're watching morning. Job will be right back.

what You may be able to solve a mystery. Can you help bring a missing person home? We need anyone saw something to come forward and I'm judgment equals and I'm andrea canning- and this is dateline missing in america in each episode will focus on one missing person, whereas I listened closely as we tell these stories and follow the clues that can lead you to help crack a case deadline missing in america. Listen now, wherever you get your PA guests, hey everyone? It's true, mainly MSNBC, corresponded and host of the podcast into america. Climate change is often discussed as a future problem or not. Even problem at all, but that ignores the fact that black people

of the country are already disproportionate feeling the impacts fuzzy's, I have to say that climate change was the great equalizer right as the threat that that should unite us all because it threatens everybody, but it doesn't threatened everybody. This faintly. There are sacrificial lambs that will go up first, how denying climate change and refusing to act is rooted in white supremacy. it's in now follow to make sure you never miss an episode Six thirty in the morning, my word for it, but that is a shot of new york city from the top of our building at thirty rockefeller, plaza whoops and fog, willoughby, today and then this weekend, gonna be close to ninety five degrees tomorrow,

work city. The cdc is recommending children age five to eleven receive a third dose of the fires are covered vaccine to boost their immunity. Cdc director, doktor rochelle, will lend ski green lit the recommendation yesterday and encourage parents of children of that age who have now he had been vaccinated to get there first shot commendation comes a maiden uptake and covert cases in splashings across the country, the fda says the supply of baby formula should begin to improve. Now, in a matter of days, the first flights of formula from overseas will begin this weekend, a plane from switzerland carrying one and a half million bottles of hypo allergenic formula is expected to land in Indiana. The new supply will be distributed across the country. While President Biden sue will sign a bill, expanding access to formula for parents who use wick, the fellow funded programme for low income families, the senate?

ass that legislation yesterday also yesterday FDA. Commissioner, Robert Caliph was grilled by lawmakers about the formula shortage and the agency's response. You can't hide behind investigation. We need answers, we need them now. who received this report. What did they do with it? Who was cutting the sta at that time the standing is that the acting Monsieur was JANET what car, what she know about this? was handling all of this and when this went to the f. In investigating all. Well is, as I said, you ve got the timeline down and you got two key issues are now we have an oversight hearing next week.

Where to go in a much more detail at that point and As I said last week, do matter, then, dad. On our side committee next week, you're before the committee get funds. What you do. So these in this information is relevant to this sub committee of appropriations, I appreciate what you're saying that it's the investigation is not completed, yard and surmounted opposition to it. Specific like that. Ok, ok, while there are so many questions at this point to first of all, I'm gonna want to know how exactly they're going to distribute the formula that is coming from abroad. How quickly they can make that happen. Is that going to get caught up in red tape and drag out for weeks, because for some parents they don't

five weeks. The demand is so immediate and it is so desperate which leads to allow the lot of other questions. I was talking to my brother about the millions of refugees at the borders that are being coordinated and organised through different organizations- the? U S, military and poland. They don't have a the formula shortage. Why? Because People foresaw the need and acted accordingly, and it was organic. That was his answer to me right how right here in amerika we had. situation that could have been predicted. The shortage was predictable, but there's no, not no organic and no real leadership on this. That is strong enough to move the meter in a take us. back the idea that the united states of america is having to import baby formula from switzerland because

Mothers are running down to one can or even less, to try and feed their babies. They literally cannot feed their babies, and this is in twenty twenty two, the world biggest military, the world's biggest economy, com baby formula people just seems It seems quite unbelievable if somebody told this to make a couple of months ago, never have believed that this was gonna happen. This headline started cropping up two or three weeks ago and two or three weeks ago there wasn't very much attention being paid to this. The first stories I store about it back then. I thought I hope the white house is on this, because this has the potential to blow up in there This politically in a very big way, and of course, More importantly, it is causing huge amounts of stress to parents, so this

it comes in it comes in from Zurich is going to atlanta in Indiana. We understand and then be distributed around the country, but one flight load, even if it does have millions of doses of formula formal, has, I think, some of that nineteen million doses of bottles worth of formula on it. That's not going to be enough they're going to have to speed up product. We now have to rely on the defence products. Back to me. This is what you do when you're trying to funding. We're effort or trying to fight covered the defence production that it shouldn't have to be that we are relying on that to increase supplies of baby formulas people, but that's where you and is really interesting what you say about on the border the? U s military, having to fund this on. It has managed to sort this out, but you mean of bureaucratic red in this country and kooky trade systems in place of managed made this a problem here. They need to sort out the last, because politically this is toxic for the white house. So we're gonna, be talking a well I later to senator Debbie stamina, whose pass a bill to try and deal with this crisis. Bull,

the asking her a lot of questions well yeah. I just want to underline your point micah about how this we could have seen this coming. Listen to these officials, the FDA. We had the surgeon general on yesterday. They sound flat foot, about this, but what's wrong that that abbot plant closed in February. So this wasn't just a couple of weeks rampaging closed in february, and there are warning signs actually last fall that it was probably going to close based on all the problems they were having their. So this is not something in yes, caddies raided jumped into the headlines a week or two ago, but for government officials. They showed seen this coming a long time ago. So for invite administration respectfully to say you know we ve moved quickly on this frankly, isn't true I think what they're saying as we are moving quickly now which is a different set. The problem is politically, but also legitimately for babies.

cross america. This is something that is going to stay with any parent that has to deal with any type of shortage and feeding their baby. The most basic thing, so the hoped for the white house and, quite frankly, for Democrats is that they can turn this around, because this will beyond them. This will be a terrible, terrible message about the non functionality of america. If we can do, It's been four. A crisis of a plant shutting down one of the only makers of baby formula, which is a problem within itself and not address that dire need. That was right there right straight down the road there were looking at it. It's it's just origin, to say the least, about the state affairs in amerika, and the ability to get. stung I turn now to a reunion that happened this week in los angeles. That was more than over the years in the making.

Do you really think we look ninety six year old, frank shots and one hundred and one year old, george percy are holocaust survivors whose paths very likely crossed at a slave labour camp in hungary Can nineteen forty four do to look the people and never forgive those who don't learn from history, repeating it. So it is the main reason: border of doing not for publicity. I don't get it anything out of it. He The the one loves, alas, living written We are very good fortune.

We remember this historic. All sides is here nautical events and weekend there also, conclusion and we can draw attention to the present. People who are around us what's happening, and what should we do that this should never Ok, I again. The meeting came about because francs niece, Erika Fabian saw this article and the los angeles times about bursting a surgical pioneer We still goes into work several days a week at us. a seat sinai medical center, in LOS angeles, she read it out experience as a holocaust survivor and the journey matched that of her uncles I sent it to my uncle thinking. They I know each other, so

Obviously it was important enough for me to take the time to cut the article add copy it send it to. And say do you know this matter? So I am amazed that my uncle immediately contacted Their ban at Sea- and here they are sitting together. It's to me it's it's a miracle. The two men are going to take a couple of days to catch up and get acquainted. They say they hope their meeting will remind people about the horrors that took place, but that you can goes through hell still live to tell about it. Witnesses history listen to them coming up. We're new reporting on who the accused buffalo shooter wes communicating with moments before the hate based attack plus Oklahoma, takes abortion legislation to the next

although passing what is now the countries most restrictive ban on the procedure, and yesterday we played for you, some eye opening comments from georgia. Voters we're gonna have more from a lease Jordan's focus group of democratic. got just ahead on morning, Joe hey as willie geist here, reminding you to check out the sunday sit down podcast on this week's episode. We revisit a favorite conversation with academy award winner Ariana de beauce in a year that saw her win that oscar the golden globe and just about every other word you can win for her performance in Steven Spielberg's

side story. You can get our conversation now for free wherever you download. Your pod casts. Everyone on Tom yarmouth from top story on NBC news now, every night top story is your news. Playlist. We take you to the front lines of the story where it's actually happening with NBC news journalists on the ground from all over the world. We cover what you need to know and bring your news feed to life and now top stories available as a podcast, so you can listen anytime and anywhere subscribe now for new episodes every week now the was for its weak, looks like it's gonna end this turbulent. We as it began all three major indexes closed, lower average choppy trading yesterday. Retailers are signalling concern over more inflation warning that rising costs are going to keep putting their province. Meanwhile,

prices hit a nother record high for the tenth day in a yesterday. This is. I am better. With a war going on financial average for a gallon of regular is now four dollars. Fifty nine since that spring in former treasuries official am morning Joe economic, amnesty ratner also whether its the co founder of access, my gallant, steve so little people who made a ton of money off of the stock market? during covered. We told those stories for a year and a half I bet it seems now that there are a lot of those gains being given back the stock market after the worst start since nineteen forty, what are some of the headwinds that it's facing, illustration, probably at least three different had penguins Inflation, as you pointed out, it is affecting the economy, but inflation is also for

The federation interest rates at higher interest rates are the enemy of the stock market, its are facing a wobbly consumer who has started to feel the effects for inflation is well in terms of how much they spend and lastly, as you pointed out, the stock market has had an amazing run and that creates- headwind kind of in and of itself, and I can show you a bit of how all those how others look if you'd like yeah love it so so What you can see here is The red line is interest rates and you can see that as interest rates have been declining since well before the pandemic stocks from going up- and that's not a coincidence, it's not a day to day relationship but directly, that's what happens You can see the vertical black line on the right. That's when the stock market, which coincidentally happened to be january third of this year. You can see that eighteen percent decline, though, as you say, the worst since nineteen forty

can also see the red line, wishes interest rates suddenly shooting up, and so those who are not unrelated interest rates, as I said, are the enemy the stock market. But to the other point you can see that that horizontal black line simply takes us. To where we were a year ago, basically and sat in a sense the stock market has given up its gay. from a year ago, and that's where we sit at the moment. What my target specific stocks are you this is it this: isn't a cross entire stock market. Equally, I remember last year during the pandemic, I talked to somebody who invested in the stock market all the time, and I said what are you doing. They said I'm buying the monopolies and buying the tech monopolies they're going to just keep going up while they did keep going up until they started going down now, Steve. Isn't it It's a lot of these tax stocks. It's a lot of the stocks and did so well during the pandemic. I'm getting hit the hardest,

that's exactly right and you can break the text stocks down into a couple different, but so, as I can show you here on this next chart in the upper left, You have some stocks that had benefited enormously the pandemic things, as you would imagine like it, wayfarer, the home, furnishing company when people whereby furniture for their home like netflix, which has set a series of issues, but where people increasingly streaming and then of course, zoom which barely existed before them pandemic. It zoo No pun intended You can see how that it's come down and these stocks from down anywhere from fifty to seventy five percent, and then ex group on the right. You consistent text stocks a bit less related to the pandemic, but also that hi flyers and have had their wings clip soda. Big, including companies like pay pal downstairs eight percent, over down forty seven percent and so forth, and then in the lower left and the most recent group that has come under a lot of pressure and you talk, but this vote yesterday, with Brian Sullivan, are the retailers consume?

are feeling the effects of inflation, starting to show up in how much stuff there. Actually, by these days, in the extent to which the kind of pulling in their horns, we can see even amazon down very substantially. The sheer because of a soft first quarterings report because of soft sales target best buy walmart. All those kind of companies, but who are the winners, are winners out there and guess, not surprisingly there in the energy companies and the big energy companies, europe anywhere from fifty eighty percent again because of because a rising energy prices, yeah luggage stabilize finally talk about the weather, time and jumped back into the market or out, of course, you're giving her advice, but by we ve seen again during the pandemic. A lot of people jumped into the market for the first time these sort of civilian day traders have then, when it goes down trying to buy it, logan up you're, saying based on everything that that your hearing from the street

ex may still be expensive. Yes, there drugs, but there still theirs, At historic eyes,. yeah, so this charge Joe measures stocks against their earnings, so gives you a sense of how expensive or how inexpensive they are. You can see it s been a pretty accurate indicator of some significant market turns black tuesday. Nineteen twenty nine stock market crash- if she, how expensive they were then you can see in the late sixties when the stock market kind of rolled over for for a long period of time it show I'm showing a market top there. You can see what happened in the early eighties. When stocks really began their climb back, you can see that calm bubble. Next it down, which I didn't mark you can see, is actually two thousand and nine when stocks also took a turn back way back up You can see on the right we were before this downturn at the sec. The highest second most expensive stock market it over a hundred years and this decline

We ve had only brings us a little way down as you, I'm not predicting stock markets, I'm not in that business. No good investor really try sporadic stock markets, but stock still look awfully expensive from from this measure and from a lot of other perspectives as well, state before you go just looking down the road, it's hard to print prognosticate with this economy, because there are so many conflicting factors: ass the globe, but we ve got housing demand. What's got gas prices, we ve got major companies, reporting very poor earnings. Yesterday, the stock market, the incoming potential food crisis, what's the potential and your mind, that rates will have to be raised to like seven or eight percent to sort of put the breaks on the economy and impose a rift, a recession.

Economists obviously are divided about this. It's a very unusual period. We ve not really come out of a pandemic. We have not had as much access savings as we still do have consumer balance sheets a time we have also had this much in this much inflation. bounce you see in the stocks for today is because China actually had a good night last night there find I think getting their act together. The question is whether we have our act together, inflation is a set of technical toll on consumers, Mortgage rates are well over five percent gasoline. prices. You just reported on at a recent record high and Oh, I would I am on on the more pessimists end of the spectrum in terms or how I think the economy is going to perform inflation is going to force. The federation frustrates certainly too far, six percent, may be higher mika, as you suggested in order flash back. The two percent that is a trick the fed has never accomplished without there being a recession and

As you said, the astonishing consumers pullback you're, starting to see somewhat we earnings, predicting the at the end of the world or an immediate recession, but the road It does not look great or I see ratner live from his nineteen. Fifty seventy actually gets into a time machine do this? Is nineteen fifty seven procter and gamble our chamber is my favorite background, I'm tired. Now I say right now: let's look at an angle, but very how one year as I love the road is area. Jai us not is isolated rotten. Thank you. So much is always a herds love. What I've got Steve go it.

I was just going to say you know that suits post to fit the man and transposed to fit the suit. I just I just acting out my or I'm just I'm just putting the backdrop to me that I deserve your value as as bills takes no notice. You there, you know, you're exactly on the wing deal is a state like stevie. Some last point: there is the kind of really a little bit the forced foreshadowing of potentially really tough times ahead for our economy. Listen it's hard not to deny this well. Inflation continues to explode, it doesn't look like it's going to slow down and the that is going to have to deal with the fair doesn't want to do, and they're gonna have to jack interest rates up a lot more than they ve even talked about green, greater that viruses or well everyday, creates an economic crisis for all americans for working class, americans, middle class americans and agree

it's a crisis for whoever is running the country right now, and that is Joe Biden and divided administration. We have mike Allen he's going to be on the other side of that these friday now he's going to be talking about the economy we talking about politics and, waters ahead for Income, but also still, I had attorney general america. Ireland will meet with the president of the endeavour, lay c p today to discuss the dangers of white supremacy in the wake. Of the mass shooting and western new york, including how its being spread on social media plus reverend l sharpen joins us from buffalo after meeting with grieving families of victims also have another warning about the ill use of social media and how its fuelling a black market

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