Name: 'What we really need is confidence,' Duke professor says of uneven economy during pandemic
Uploaded: 2020-07-13T19:50:09-0400
Duration: 275671
Description: Duke University economics professor Connel Fullenkamp says more information is needed about the path of the coronavirus pandemic to help businesses chart a course for operating and give consumers confidence as they venture out.

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Duke University economics professor Connel Fullenkamp says more information is needed about the path of the coronavirus pandemic to help businesses chart a course for operating and give consumers confidence as they venture out.

OWNER DAN SNYDER REFUSING >>> TAKE A LOOK AT WHAT HAPPENED TO THE MARKETS TODAY, WE'VE BEEN WATCHING THIS HAPPEN OVER THE PORT POST FOUR MONTHS, THE MARKETS GOING UP AND DOWN, CRASHING, COMING BACK BUT TODAY WAS QUITE A TURNAROUND. YOU MAY RECALL THE DOW IS NEARING 30,000 THE DAY IT CLOSED ABOVE 26,000, EVEN IN A SOMEWHAT SHAKY MARKET, THERE ARE THINGS YOU CAN DO TO SET YOURSELF UP FOR SUCCESS. JOINING US TO TALK ABOUT HOW WE CAN GET THE MOST OUT OF THE ECONOMY THROUGH THE PANDEMIC HOWEVER LONG THIS IS GOING TO BE, PROFESSOR CONNEL FULLENKAMP FROM DUKE UNIVERSITY, PROFESSOR, THANKS FOR TALKING WITH US. ONE THING I WANT TO QUICKLY MENTION, TODAY'S MARKET,  THE DOW IS UP 500 POINTS NOW STOCK AND IN A MATTER OF AN HOUR, IT FLIPPED. THE NASDAQ WAS UP 4%, IS THERE ANY WAY OF THINKING WE ARE ANYWHERE CLOSE TO A NEAR-NORMAL RETURNING ANY TIME SOON? >> NO, AND I THINK THAT EXPERIENCE TODAY JUST SHOWS US EXACTLY THAT. IN SOME SENSE THE VOLATILITY IS THE NORMAL SITUATION OF THE STOCK ARE GOOD BUT TODAY WAS REALLY SOMETHING SPECIAL. I AGREE. >> IS A GOING TO TAKE A VACCINE BEFORE WE CAN RECOVER AND I ASK THAT ON THE SAME DAY THAT THE WHITE HOUSE SAID LATE THIS AFTERNOON AFTER THE MARKETS WERE CLOSED, WE COULD HAVE A VACCINE PRODUCTION BY THIS FALL. >> IT WOULD BE REALLY WONDERFUL IF WE COULD HAVE A VACCINE GOING INTO PRODUCTION THIS FALL BUT I DON'T THINK THAT IS REALLY GOING TO BE REALISTIC. AND I DON'T THINK WE REALLY NEED A VACCINE TO GET THE ECONOMY MOVING AGAIN. WHAT WE REALLY NEED IS CONFIDENCE AND BETTER INFORMATION ABOUT WHAT THE EXACT RISKS ARE FROM THINGS LIKE DOING YOUR BUSINESS, GOING OUTSIDE, GOING TO SCHOOL. IF WE HAD MORE INFORMATION THAT WOULD ALLOW PEOPLE TO CALCULATE THE RISKS, WE CAN ALL GET BACK TO WORK. >> FINDING CONFIDENCE SOMETIMES WHEN WE SEE THE NUMBERS CONTINUE TO GO UP, WE SEE WHAT'S HAPPENING IN TEXAS, WE SEE THE CALIFORNIA GOVERNOR ROLLED BACK OPENINGS TODAY. JUST ABOUT THE TIME WE ARE GETTING USED TO THIS, WE GET ANOTHER SHOCK TO THE SYSTEM. HOW DO WE FIND THE CONFIDENCE WHEN THERE IS SO MUCH VOLATILITY? WE ARE SO VOLATILE RIGHT NOW. >> I COMPLETELY AGREE. THE NEWS IS REALLY CONCERNING BUT AGAIN, ONE OF THE THINGS THAT THE GOVERNMENT COULD DO FOR US IS REALLY RUN THE NUMBERS AND SAY, IS THIS REALLY JUST A NORMAL PROGRESSION OF THE CURVE, WE'VE BEEN TALKING ABOUT FLATTENING THE CURVE BUT IT STILL GOES UP QUITE STEEPLY, IF WE CAN FIGURE OUT IF THAT IS THE CASE OR THIS IS SOMETHING REALLY OFF THE CHARTS, THAT WOULD HELP US ALL FIGURE OUT HOW TO RESPOND TO THIS. I THINK THAT IS GOING TO BE THE NUMBER 1 THING, INFORMATION. >> PROFESSOR WE HAVE A LOT OF PEOPLE IN THIS AREA THAT HAVE EITHER JUST RETIRE LIKE MYSELF, WILL BE RETIRING IN THE NOT-TOO- DISTANT FUTURE. WHAT ADVICE DO YOU GIVE US? >> DESPITE THE ROUGH-AND-TUMBLE OF THE MARKET TODAY. AS I TEACH MY STUDENTS AT DUKE AND IN MY VIDEO COURSES, YOU'VE GOT TO STAY INVESTED IN THE STOCK MARKET. THAT WILL BE YOUR BEST LONG RUN INVESTMENT. EVEN IF YOU ARE ABOUT TO RETIRE, YOU WILL STILL PLAN TO LIVE FOR A LONG TIME AND YOU RUN THE RISK OF OUTLIVING YOUR MONEY UNLESS YOU STAY INVESTED AT LEAST PARTIALLY IN THE STOCK MARKET. >> WE WERE JOKING A LITTLE BIT BEFORE WE CAME ON TONIGHT. I ASKED YOU IF YOU BROUGHT A CRYSTAL BALL AND YOU SAID YOURS WAS CRACKED LIKE SO MANY OTHER PEOPLE. WHILE WE ARE LOOKING FOR THAT CONFIDENCE, LOOKING OUT AT THE HORIZON, IT CAN GIVE US PAUSE THOUGH, CAN'T IT? >> ABSOLUTELY, AND I THINK THAT'S WHY YOU NEED TO BE CONFIDENT AND OPTIMISTIC BUT STILL PLAN FOR THE WORST CASE. YOU WANT TO STRESS TEST YOUR LIFE, YOU WANT TO STRESS TEST YOUR INCOME AND MAKE SURE YOU WILL HAVE ENOUGH. IT'S A DELICATE BALANCING ACT THAT WE ALL HAVE TO DO. >> VERY QUICKLY, IF I HAVE A LITTLE EXTRA MONEY RIGHT NOW, WHAT DO I DO WITH IT? >> IF YOU ARE LOOKING FOR SOME INCOME, I THINK A LOT OF PEOPLE ARE THESE DAYS. ONE OF THE THINGS THAT THE PANDEMIC HAS ACTUALLY EMPHASIZED IS A SWING OF PEOPLE FROM HOMEOWNERSHIP TO RENTING, AND THERE'S MONEY TO BE MADE IN THE PROPERTY MARKET NOT JUST AS A LANDLORD BUT ALSO INVESTING IN REAL ESTATE DEALS, REAL ESTATE INVESTMENT TRUST, THEY PROVIDE INCOME THAT COMES IN FROM THOSE RENTAL PAYMENTS. THE MAD PROFESSOR, WE APPRECIATE YOUR TIME, PROFESSOR

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'What we really need is confidence,' Duke professor says of uneven economy during pandemic

Duke economics profess Connel Fullenkamp

Duke,coronavirus,coronavirus economy,stock market

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Good morning. I'm meteorologist Elizabeth Gardner. We have a gorgeous day and our forecast, our temperatures are pleasantly cool this morning, skies are clear and our wind is mostly calm. Now. There may be some gusts that happened later on this afternoon. We could be gusting 15 to almost 20 MPH in the middle of the day and then we'll see the wind starting to die down. It's not going to be anything that causes you any real issues, but just a touch on the breezy side. Midday. Our temperatures heading out the door this morning are chilly anywhere from mid forties to mid f depending on where you are. And it's going to be a lovely day today. Lunch outside. Absolutely. If I could put some exclamation points on this, I would almost 70 at lunchtime humidity, low, lots of sunshine, take advantage of this absolute gorgeous afternoon for lunch outside or whatever it is that you can do our highs mid afternoon, 74 in Raleigh, 72 in Durham and 78 in Fayetteville. So such a pretty day. Uh, lots of things to uh to do. It's a very busy time time of year lots of festivals and things. And I imagine with game three, the hurricanes versus the Islanders, there will be a lot of people out at watch parties, temperatures before the game will be dropping to around 60 then on into the upper fifties, by the time the game is over, cool, beautiful sunny conditions and low humidity. Look at that low humidity. It's in the fifties all the way up through Saturday and Sunday. But then on Monday it starts to climb up to 60 it gets into the sixties. That's when you start to notice it. You know, some days you're like, it feels humid. So we're going to start to feel it. It's not going to be overwhelming, you know, not looking at steamy or tropical conditions, but it will start to creep up as we get into the weekend. Look at the temperature change that we're going to see. You see the blue color contours, that's where temperatures are either below normal or close to normal. And then once we get into Sunday and much of next week, we're going to see temperatures climbing above normal. So we're talking about some eighties. Our normal highs are in the mid seventies and would be pretty close to that through Saturday. Then we start to climb into the eighties and we have the potential on Tuesday to be close to a record. The uh high temperature 88 the record nine back in 1906. So getting close to record territory. By the, uh, beginning of next week, it stays mainly dry. The only real chance of any rain we have is a tiny chance on Tuesday. Just a 20% chance. So we have a very dry period in our seven day forecast.

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Good evening. I'm Gayle Hurd. Welcome to tonight's drawings for Wednesday, April 24th, 2024. Well, let's get started tonight with our Carolina pick three. Our first winning number is a seven. Our second number is six and the third number tonight is a nine and our pick three. Fireball number is six. Joining me for tonight's show is our auditor from mcconnell and Jones L LP. Now let's move to the Carolina pick four. Good luck. Everyone who's that first winning pick four number, it's zero. Our second number is a nine. Third number tonight is three and our fourth number is one in our pick for fireball number. There it is. It's three. Again, we're turning now to the Carolina cash five and no one was the top prize tonight. Tomorrow's top prize is estimated at $620,000. Good luck. Everyone here's their first win in cash five number. It's a 29. Our second number, it's 37 3rd number tonight. It's 34. Our fourth number is lucky 13 and the final number in our cash five this evening is 12. The North Carolina Education lottery has contributed over $10 billion to education. Get your winning numbers right here every night on your exclusive station for the North Carolina Education lottery. Thanks for playing. Have a great night.

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Ball. Good evening, Ruan, I Randy trainer. Tonight. We have another life changing jackpot. It's worth an estimated $130.2 million. So, get your tickets ready here. Come, tonight's winning numbers. Let's start things off this evening with the number 26. Right after that America. We have the number two and congratulations to Gina Magnum from North Carolina. She won $50,000 playing powerball. All right, the rest of your winning numbers tonight 20 47. And let's round it out tonight with the number 22 and tonight 20 powerball number, that's gonna be 21 and your power play multiplayer is four. Let's take another look at tonight's winning numbers. We'll see you back here on Saturday night. It's time to play America's favorite.

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Good afternoon. I'm Luis Fernandez. Welcome to this afternoon's drawings for Wednesday, April 24th, 2024. Let's get started with Carolina pick three. The first pick three number is two, second is eight and the third is eight and our pick three fireball number is five. Join me for this afternoon's drawing is our auditor for mcconnell LP. Now let's move to Carolina pick four. The first pick four, number is five. The second is one, the third is three and the fourth is zero and our pick four. Fireball number is five. The North Carolina Education lottery has contributed over $10 billion to education and thanks for your support.

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Brian Shrader flies over the site of a plane crash at Raleigh-Durham International Airport approximately three hours after the accident.

Seen some activity just in the past 10 minutes or so. I want to take you outside Sky five right now for a live look at the scene. We saw a van being escorted to the runway there and someone got out and now there appears to be a really careful inspection of the debris going on. So we're working to confirm if that may be the NTSB investigation team arriving at the scene. Let's zoom out and give you some about where this is. There are two main runways at RDU International and this is in the grassy field next to the runway that mostly serves terminal one on the east side of the airport, that runway remains closed while this investigation continues at the top of your screen. That is the other main runway that serves terminal two, mostly that runway is open. So we have two things going on here that could affect your flights for the rest of the day and maybe even into tomorrow, the airport takeoff and landing capacity is roughly reduced by half because they are only working with one runway. And if you have a flight coming out of terminal one, maybe Southwest, you're going to have to take that crossover all the way out to that other runway. It's going to add a lot of extra time.

Sky 5 flies over RDU plane crash 3 hours later 

A UNC Health physician and pilot were taken to the hospital Wednesday after a small plane crashed at Raleigh-Durham International Airport (RDU).


Sky 5 flies over plane crash at RDU

RDU Airport Authority gives an update on a plane crash that sent a physician and pilot to the hospital. The crash occurred Wednesday morning on a flight that took off from Wilmington.

<p>Landguth first, I want to extend my thoughts to those affected by this morning's aircraft accident and thank our first responders for their quick action to respond. The airport authority and its mutual aid partners responded to an aircraft accident at RDU involving a general aviation aircraft. The accident occurred at approximately 10:10 a.m. in the grass next to runway five, right 23 left. The flight was arriving from Wilmington, North Carolina. The A the aircraft is owned by medical Air Inc and operated by UN C air operations. The aircraft had two people on board, one pilot and one passenger. Both were transported to area hospitals. The federal A Bush administration issued a ground stop that was lifted at approximately 1130 this morning. The Federal Aviation Administration and the National Transportation Safety Board have both been notified. The National Transportation Safety Board is en route and expected to arrive within the next hour at which time we will conduct an accident investigation. Rdu's runway five left 23 right reopened to departing and arriving aircraft around 11:30 a.m. this morning. Are you experiencing approximately 70 delays and several arriving flights were diverted to other airports? Until ground stock was lifted, travelers should contact their airline for the latest updates regarding the flight status. And of course questions about the identity and condition of the pilot and passenger should be directed to UN C health. And at this time I'll try to answer any questions. You may have, uh, the one, any other accidents in, in the past. I'm not familiar with any other accidents have occurred with that operation. I don't know, uh, that's the role of the National Transportation Safety Board. They'll actually come in and do the investigation. Uh, and at some point in the future, they write up a report and determine what the cause of the accident was. You know, that there was no notification to the airport authority or to the FAA uh about any type of emergency on board. Do we have a guy? We don't, all we know that we've got them out of the airplane and we've got them transported to local hospitals. We know situations like this and delays have a ripple effect on, you know, flights. Do you have any idea what type of impact we'll see here in our view and for not sure, but what we're going to encourage everybody to do is reach out to your airlines. We'll be able to give you real time information about the impact of your particular flight. Ok. I believe some of them went to Greensboro and I think a couple went to Charlotte as well. What, what to be impacted due to the NTSD. Say that one more time at this point in time, what we call the west side of our airport is now open the investigation they'll conduct will all be on the east side. So at this point, we are anticipating normal operations returning to normal operations from this point forward. I don't think that anything that they're doing regarding the investigation or where they would have to investigate would have any impact to the west side of the airport. No, the aircraft is still on the airfield itself. It's on the east side of the field. So terminal one that runways the east side of the field, that's where the debris field actually sits, the west side of the field is open and operational and safe to operate. Not that I'm aware of in operations for you throughout this event today. What was your main concern concerning the passengers that were in the internals? Right. I think our primary focus when, when that accident occurred were the two people sitting in that aircraft? Our primary mission is to make sure we can get to them and try to rescue them and try to make sure that we can get them in a safe condition as fast as we possibly can. Uh secondarily is trying to figure out then how we recover and get our operations back up and running. Mhm. How does that affect? What goes on term? Yeah, so great. Question. So the team has figured out a way to get all the aircraft they're gonna operate at terminal one. Your Southwest develops. Uh We've got a crossover taxi way that we can actually get them through our general aviation aircraft. We've got a crossover taxiway, we can get them to. But the rest of the uh accident scene is actually kind of isolated and closed and locked off. Yeah, you're terminal one at this point in time. Once they can get back on their schedule, it's going to be a normal operations. All right. Thank you guys. All right. Thank you. Grab your phone, right.</p>

'What we really need is confidence,' Duke professor says of uneven economy during pandemic

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