السلام عليكم ورحمة الله وبركاته بسم الله الرحمن الرحلين والصلاة والسلام على سيدنا وحبيبنا سيدنا وحبيبنا وشافيعنا وقائدنا وقرك عيننا سيدنا محمد صلى الله عليه وسلم يا ربنا لك الحمد كما ينبغي لجلال وجهك وعظيم سلطانك اللهم افتح علينا فتوحة عارفين اللهم علمنا ما ينفعنا وانفعنا بما علمتنا يا ارحم الرحمن لذلك لقد بدأنا نتحدث عن جديد جديد جديد ونحن نتحدث عن الأولى من 10 اوطرات التي ستدخلنا أكثر إلى الله سبحانه وتعالى و... هذه الأشياء سيجدنا أكثر مستعدة لما يتحدث عن هذا الدنيا في هذا اليوم فقط ما سنفكره هو أن يكون الله سبحانه وتعالى هذه الأشياء سيجدنا أكثر مستعدة إلى الله سبحانه وتعالى و... في هذا الدنيا هناك so many less fortunate people who do not have sufficient means to live with all their needs available so these people suffer and their lives are full of misery but by donating to these people we're helping them to alleviate the immense struggle they are facing in this dunya so the outer action that we are going to talk about today is the zika or the sadaqa so what is the zika the zika is the third pillar of Islam and it's a form of worship that involves wealth it is obligatory to pay charity to pay zika in Islam and it is obligatory upon Muslims to pay a portion of their earnings once in a lunar year and this amount of money this portion is paid to certain people with certain conditions that can be checked of course in the fiqh of the ka today I'm going to talk a little bit about this fiqh or just to mention a little bit about it but we will talk about the ka in general so as I mentioned earlier this series is not talking about fiqh it's not a fiqh class it's beyond the fiqh of the worship but I will touch on a little bit of what the word zika means what is the value of misab and who to pay the zika to so to start with let's ask ourselves what is the word zika mean the word zika is a divide from an Arabic word zika so what does zika mean zika means cleanliness purification increase growth righteousness and praise الله سبحانه وتعالى says in سورة البقرة آية 261 مثل الذين ينفقون أموالهم في سبيل الله كمثل حبة أمبتت سبعة سنابل في كل سنبلتهم مئة حبة والله يضاعف لما يشاء والله واسع عليب مثل الذين ينفقون their wealth for the sake of Allah is like a seed of grain so this seed of grain grows seven spikes and in each spike is a hundred grains so imagine so one grain now imagine how much it is and Allah multiplies his reward for whom he wills والله واسع عليب الله is old encompassing and he is all knowing so we said that zika is obligatory upon Muslims to pay a portion of their earnings so how much do they pay zika is a must if the wealth of the Muslim reaches the nisab so this is this is when we pay the zika so when we want to know how much to pay we have to ask do we have the nisab or not so what is the nisab what is the value of the nisab the value of the nisab is determined through today's value of either gold or silver what does this mean so if we have money and we want to know do we have to pay zika on this money that we have or not so we say 87.48 grams which is equal to three ounces is the nisab by the gold standard so if you have three ounces the weight of three ounces in gold then you pay the nisab and this is 87.48 grams of gold some people would say we can get to know if we have the nisab or not by silver standard so if you own if you have 612.36 grams which is equal to 21 ounces of silver so we say 612.36 grams is nisab by the silver standard so now we know that if we have this amount this much of gold or this much of nisab then we have to pay the zika who should the zika be paid for Allah SWT has specified the groups of people we can't pay the zika for so he said in surat al-Tawbah ayah 60 Allah SWT says بسم الله الرحمن الرحيم إنما الصدقات للفقراء والمساكين والعملين عليها والمؤلفة يقولوبهم وفي الرقاب والغارمين وفي سبيل الله وبن السبيل فريضة من الله والمؤلفة so the zika expenditures the people who deserve the zika the people who we can give our zika to are as follows Allah is counting them Allah is listing these people he says they are the poor and the needy what's the difference between the poor and the needy the poor are the people who have no wealth nor income the needy are the people who have no assets and whose income does not cover their basic needs so now imagine with the situations that will live in with the inflation with the wars with everything so many people are needy so many people need help their income does not cover the basic needs they want to have so this is الفقراء والمساكين والعملين عليها those employed to collect the zika if those are in need we have too they are of the people whom Allah SWT specified as a group who can accept the zika والمؤلفة يقلوبهم and also for bringing hearts together for Islam so these are المؤلفة يقلوبهم وفير رقاب وفير رقاب are is so the zika is paid for freeing captives or slaves والغاريمين الغاريمين are those in debt وفي سبيل الله and for the cause of Allah SWT وابنى السبيل ابنى السبيل is the standard traveler who needs help how there is a traveler he has money even if he is wealthy he lost all his money then you can give him of the zika money so these are the groups of people whom Allah SWT has specified to take the zika فريضة من الله this is an obligation imposed by Allah SWT والله علي من حكيم الله is knowing and Allah is wise let's talk about the groups of people who spend for the sake of Allah there are levels there are stages the first level is those are the the strong ones so what do they do when they want to spend for the sake of Allah they spend all they have all they own for the sake of Allah SWT and they do not leave anything for themselves what are these called الأقوية the strong ones أبو بكر الصديق رضي الله when he brought his money to Sayyidina Muhammad he brought all his house and Sayyidina Muhammad asked him what did you leave for your family Sayyidina أبو بكر said I left them تركت لهم الله ورسوله I left them الله and his messenger so imagine the strength of the heart sayyidina أبو بكر صديق who gave everything for the sake of Allah and he did not care that after that he will be poor so he was of those who spent for the sake of Allah SWT without caring without caring about being poor so this is the first group of people who spent for the sake of Allah who pay for the sake of Allah the second group is the mediums the people in the middle so they they keep some for themselves and they spend so why do they keep it it's not all for themselves it's they keep some if someone comes for charities then they will have something to give so it's not only for themselves but to give also for the sake of Allah SWT the third group is the weak group they just spend what they have to spend they just give if they have to pay for example $100 they pay just $100 $100 they do not increase they do not decrease they pay the exact amount so of these three groups you see that the first group they spend they spend as much as they can and they show their love to Allah SWT by fulfilling his orders of spending and not keeping for themselves so this is the true love of Allah SWT when he gives an order then they hasten to fulfill the order in full so a person might not be able to be of this group but he has to do his best not to be also they are the group but to be in the middle so try to spend something everyday for the sake of Allah SWT and and spending by the way is not by money some people would say we are so poor so how can we spend there are so many ways of spending for the sake of Allah SWT the good word is a charity when you say something say try always to say the best you can choose good words to keep when you talk to them it's a charity to say good things زيارة المريض it's a charity to say good things زيارة المريض صدقة visiting the sick people is also a charity is also spending for the sake of Allah SWT قضاء حاجة الناس صدقة also taking care of people's affairs is also a صدقة so it's not only to spend with money some people spend also from their time they specify an hour of a week a few hours of the week just to help people just to do things good for people for the sake of Allah SWT so this is also a way of spending for the sake of Allah SWT when we pay زيكة we have to pay attention to 5 points the first one is to keep it secret and Allah once said يا رسول الله which of the صدقة is better is it to keep it secret or to show it to people so what did what was the answer سيد محمد صلى الله عليه وسلم of course said انت بدو الصدقات فني عما هي وانتخفوها وتؤتوها الفقراء فهو خير لكم ويكفر عنكم من سيئاتكم so if you disclose your charitable expenditures they are good but if you conceal them and give them to the poor it's better for you الله سبحانه وتعالى will remove from you some of your misdeeds he will wipe some of your sins and Allah with what you do is fully acquainted Allah knows so which one is better is it صدقة السر or صدقة الجهر which one is better to give and to show people that you are paying or just to give people and not to show them go to your intention check your intention why is it that you are giving is it for the sake of الله سبحانه وتعالى or what if it's for the sake of Allah سبحانه وتعالى and it is just to encourage people to encourage people that you are giving so they will give they will be encouraged to give then do it outwardly and at the time of the companions used when they used to meet they would ask each other how many pages of Quran did you read how many raka'as did you pray what charity did you pay they are not just throwing off they want to compete with each others and that's why Allah سبحانه وتعالى says أفسي المتنافي سون with these good actions this is the way that people should compete so now you paid the Zika what else should you be aware of you should be you should not mention it to the poor every now and then to make the poor feel that you are better than him that you are a giver that he is a taker that you are expecting a thank you note from him that you want him to keep thanking you for the good thing you did for him you cannot do that just pay it and pay it for the sake of Allah and forget about it put it with the good deeds that you are accumulating to get the reward for the day of judgment so if the Zika purifies the heart and if the poor person took it from you then he is the reason for you to purify your heart you should be thanking him you should not be waiting for him to thank you the third thing is that you have to give it from the best of what you have and Allah سبحانه وتعالى mentions it in Surah Al-Baqara he said do not aim do not choose the defective do not take the defective thing and give it as a صدق if this same thing that you are giving is given to you you will not be taking it except with a closed eye and you won't be happy to take it it's defective it's not good so when you want to pay your Zika when you want to pay for Zika for example for your fruit then choose the best of your fruit and give it to people the Zika of the cattle choose the best of the cattle and give it to people then then give with a happy face and give it happily سيدنا محمد صلى الله عليه وسلم says one dirham is better if you give it than more than 100,000 dirham how can one dirham or one dollar be more or be better than giving 100,000 dollar when you give the one dollar in while you are happy you are giving it then it's better than giving 100,000 dollar with while you are you are doing it hating that you are paying this amount so when you give you have to give happily and sometimes poor people give Zika to those people who are poorer than them or give charity to those who are poorer than them they might not have the Misab as we said but they like to help other people who are in need also they live the misfortune of this so they want to help those who are less fortunate than themselves you want to pay your Zika give it to someone who deserves it to to someone who is pious not to someone who goes to to drink wine with it so when you give for the sake of Allah سبحانه وتعالى you feel happy do you know why because you made other peoples feel happy so you helped those less fortunate people and Allah سبحانه وتعالى helps those who help other people سيد محمد صلى الله عليه وسلم says ملعبد مادام العبد في عوني أخي الله will help his servant as long as this servant is helping other servants other people so now what is the reward that we get from paying the Zika or from paying this تدقة there are different levels of rewards let's start with the person who paid the Zika so this person who paid the Zika he has a reward from Allah سبحانه وتعالى and this reward is a dunya reward so that his wealth will multiply we mentioned at the beginning when we just started that when you give one grain then Allah سبحانه وتعالى will multiply it for hundreds hundreds of rewards so your fortune will increase so this is on the level of the person who paid the Zika and that person will feel the joy will feel rejoiced because of the people and he knows that Allah سبحانه وتعالى is going to help him on the day of judgment so this is the first level now you will relieve some of the misery of the person who received the Zika and that person as soon as he gets this Zika money this help no wait his heart will make the dua for you so that person is in need and when he gets this Zika then he will feel happy and when someone feels happy then he will make dua he will thank Allah سبحانه وتعالى for what he has given him and he will make dua for the one who gave him and this is the dunya reward but Allah سبحانه وتعالى has prepared a special reward on the day of judgment Allah will say to you you showed generosity but I will show you the real generosity and this is the reward of Allah سبحانه وتعالى simple easy the reward is has not an eye has ever seen an ear has ever heard of and not an idea that a person or something that would come to the mind of a person whatever you will think of it will be something different it will be something better so this is Allah's way of rewarding His servants now what did Allah سبحانه وتعالى say in the Quran let's let's have a few few examples few ayas Allah سبحانه وتعالى has ordered us in the Quran to pay the zikaa and every time there is a mention of the zikaa it's preceded by prayers Allah says in Surah Al-Baqara و أقيموا الصلاة و أعطوا الزكاة و أركعوا مع الراكعين establish your prayer and give zikaa and bow with those who bow in worshiping and in the obedience to Allah سبحانه وتعالى when you perform your Salan when you pay your zikaa و أقيموا الصلاة و أعطوا الزكاة و ما تقدموا لأنفسكم من خير تجدوه عند الله إن الله بما تعملون بصير establish prayer and give zikaa and whatever good you put forward for yourselves you will find it with Allah سبحانه وتعالى Allah will highly reward you for everything that you do و من يعمل مثقال ذرة خيرا يرى و من يعمل مثقال ذرة شرا يرى whenever you do any spec of a good thing then you will find it you will be highly rewarded for it on the day of judgment and indeed Allah سبحانه وتعالى knows and sees everything that we do and He will reward us for everything so what's the other reward that Allah has mentioned إن الذين آمنوا و عملوا الصالحات وأقاموا الصلاة و آتوا الزكا لهم أجروهم عند ربهم ولا خوف عليهم ولا هم يحزنون indeed those who believe and do righteous deeds and establish prayer and give zikaa and have their reward with their Lord and there will be no fear concerning them nor there will grieve لا خوفون عليهم ولا هم يحزنون I tell you a story about giving charity الليسو بن ساعت is a merchant who trades in honey one day and was delivered to him it was full of big bars of barrels of honey and an old lady came to him and she was having a small container and she said can you fill this a container with honey and he said no no please don't ask so the lady left after that a lady ordered his helper he ordered him to follow the lady and to know where she lives and to take an old barrel of honey for her so his helper looked at him she came and she asked just a little bit you refused and now you are giving her a whole thing a whole big thing and a lady looked at him and he said oh boy she asked what she wanted but we give what we want to give so when you give try to give the best you can you know we mentioned it earlier so that Allah سبحانه وتعالى will tell you on the day of judgment you showed my people you showed my slaves your generosity I will show you the real generosity so if the if the one who gives would realize that he is giving or what he is giving is going to be listed with Allah سبحانه وتعالى then the person who gives will be happier than the person who clicks remember when Sayyidina Muhammad صلى الله عليه وسلم slaughtered a sheep and he distributed all except for one portion and when he came back to his home he said to his wife عائشة رضي الله عنها ما بقية منها يا عائشة what is left of the sheep that we slaughtered she said بقية الكتف what we have what is left is the shoulder and he said no عائشة all of it is is saved all of it will be we will be rewarded for except for the except for the shoulder all of it was given as a charity so all of it was saved for us we got the reward for all of it this was the question let's again talk about the benefits of صدقة so الصدقة is a door for heaven Sayyidina Muhammad صلى الله عليه وسلم said في الجلة ثمانية وابواب منها باب يسمى الريان لا يدخله إلا الصائمون so sayyidina Muhammad صلى الله عليه وسلم said in heaven there are eight gates among which a gate is called الريان which only those who fast will enter so this is about when you fast what do you do you give charity do you know why because in Ramadan the reward is multiplied and that's why when Sayyidina Muhammad صلى الله عليه وسلم was asked أي صدقة أفضل قال صدقة في رمضان so they asked Sayyidina Muhammad صلى الله عليه وسلم which charity is best and he said charity in Ramadan the reward of all we do is multiplied in Ramadan so when we fast we want to do the best that we can because the reward is multiplied now also الصدقة what happens the charity shields the one who paid it on the day of judgment we all know the Hadith that Abu Huraira narrated that Sayyidina Muhammad صلى الله عليه وسلم said so he listed these seven groups of people and one of these groups he mentioned the rest of the Hadith which says and a man who gives charity so seen and he said and he said and he said and he said and he said and he said and he said so nobody cares and it is so pretty because it is charity so secretly that his left hand does not know what his right hand has given so nobody knows how much he gave 我人 that he paid in charity nobody knows how much he paid in charity as a shade on the day of judgment. Also, أناس رضي الله عنه ساد قال رسول الله صلى الله عليه وسلم إن الصدقة لا تطفيق غذبا رب وتدفع ميتة السوب. So I reported that يدن محمد صلى الله عليه وسلم ساد صدقة or charity at so this charity appeases the Lord's anger and a bird's an evil death. One more thing if your loved ones are dead if your father is dead if your mother is dead slaughter something give it for for them with their name or pay pay money for them do something for them so this صدقة is the best that is gifted to your deceased loved ones the صدقة purifies the soul the صدقة brings happiness and joy the صدقة the charity the صدقة paying for the sake of الله is a way that الله سبحانه وتعالى will wipe out sins with if you want something from الله سبحانه وتعالى if you want to make dua for something to give some صدقة and then make your dua also if you have someone who is sick and you want to to to ask الله سبحانه وتعالى to heal him to give him good health again just just do some charity pay some money slaughter something do anything you can just give give صدقة for that person and say محمد صلى الله عليه وسلم says دا ومرضاكم بالصدقة pay صدقة for your sick ones and make dua so if you want something you just ask الله سبحانه وتعالى and pay while you are happy that you're paying for the sake of الله سبحانه وتعالى we have to pay attention to one more thing that when we pay we have to pay our zikaa and our صدقة our charities pure for the sake of الله سبحانه وتعالى why say إلا محمد صلى الله عليه وسلم says إنما الأعمال بالنيات وإنما لكل مريء ما نوا فمن كانت هجرته إلى الله ورسوله فهجرته إلى الله ورسوله ومن كانت هجرته لدنيا يصيبها أو مرأة ينكحها فهجرته إلى ما هجر إلي سو عمر بن الخطاب رضي الله العزم ساد ذا سيدنا محمد صلى الله عليه وسلم ساد the value of an action depends on the intention behind it so a man will be rewarded only what for what he intended so if he for example migrated for the sake of Allah then his migration is for the sake of Allah and if he migrated just to gain a worldly advantage or to marry a woman then he will get what he migrated for so when you when you pay when you pay your charity your Zaka'a your make it for the sake of Allah purely because say the Muhammad صلى الله عليه وسلم had warned us if someone does a good deed and his intention was that people would talk about him if he is generous then people would say oh this person is generous if he fights for the sake of Allah سبحانه وتعالى he wants people to say oh he is brave then he will get what he wanted but he will lose his reward in the day after so when you do your charity just make it pure for the sake of Allah سبحانه وتعالى and nothing else and do you know another way of doing أصدقه it is to to pass the knowledge that you have learned and this is the best صدقه that you do is by sharing what you learned so you learn خيركم من تعلم القرآن وعلمه the best of you is the one who learned the Quran and then he delivered it to people he gave it to people he taught it to people so this is a way of صدقه this is a way of صدقه so the صدقه of the كلام is that the صدقه of speech is that a person would pass the knowledge that he has learned so it will be a continuous صدقه for him أبهرير رضي الله عنه ساد سيد محمد صلى الله عليه وسلم ساد إذا مات ابن آدم قطع عمله إلا من ثلاث صدقة جارية أو علم ينتفع به أولد صالح يدعو له so when a man dies his deeds come to an end except for three things a continuous charity knowledgeable knowledge by which people derive benefit and pay a son who prays for him so صدقة جارية what is a صدقه جارية what is a continuous charity continuous charity is like helping or giving some money for people who are building a mosque everyone who pays in that mosque you get some of that reward so you helped spreading Islam you help people pray in the house of Allah you help people read Quran in the house of Allah this is continuous charity if you help in building a school if you help in teaching people to memorize Quran if you help in building a school for teaching Quran so all of this is considered as continuous charity if you spread knowledge this is also a صدقة that you will be rewarded for even after you die because people are benefiting from something that you did during your life you raised your child to be pious to pray for you this is a good thing that you have done so just to spread the knowledge you learned something give it so paying صدقه now paying charity is an outer action that starts from deeply from the heart how do you feel when you pay your صدقه you should feel very happy that you are doing something that Allah has ordered you to do and you know that you will be highly rewarded for this action in دنيا and in أخرة in دنيا that Allah will increase your wealth and will multiply it and will replace what you paid multiple times and in أخرة by getting the reward for that so this is a little bit of talking a little bit covering the topic of صدقه the car charity how do we what do we understand of it it's not only money it's not only giving money there are so many ways of giving charity with this we come to an end of our session for today and insha'Allah we'll meet next week and until we meet I send my Salam and your Salam to Sayyidina Muhammad صلى الله عليه وسلم والسلام عليكم ورحمة الله وبركاته


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My advice to my friends in the patriotic front parties is that there should be no desperation. There should be no desperation. There is no need for any one of us to show desperation because we have a leadership and we have created a process for ourselves, a process through the constitution of the patriotic front party to be able to undertake that convention and elect a new leader. Before we do that, we are safe, we are still okay. Let's mobilize the party. Let's encourage our party members. Let's give credit for checks and balances to the UP&D. Alright, so now talking of mobilizing the party, do you feel in its current state that the PF is attractive as perhaps it were, let's say in 2020, as it were in 2011, in 2016, 2017, is the PF still attractive for new membership? Is the party still that vibrant party that it can still remain formidable even in the aftermath of the 2020 continental election? When I think the patriotic front party is more attractive now than it was in 2020. Why do you say so? I say so because now you don't see the things which annoyed many of the Zambian people in the PF. Now you don't see anyone accusing PF of political violence. You don't see that. Now you don't see anyone accusing PF of any of those things which were causing confusion. Some people were saying PF was arrogant. We have now seen arrogant leaders. We have seen leaders who can act outside of the law with impunity, circumventing the law. We have seen elections which can be done in a constituency with an outdated ballot paper. We have seen that. Even the arrogance of PF, the arrogance that people were putting to us is now so minute in the face of what is happening now. So clearly if you ask me and I'm being very honest with you as that is extending to our listeners, PF is more attractive now than it was in 2020. So do you feel the party will outlive the post 2020 election? The reason I ask this is that people are quite skeptical in the sense that there have been two examples, two former ruling parties. Do you need, where is it today, 30 years down the line, MMD with only 10 years since the party was power, a share of its former self. The party actually started crumbling at least two years after losing power, if not a year after losing power. How different is the PF from these two? How different is the pedodic front scenario for these two because there is always a saying that history tends to repeat itself. You have asked a very important person as far as I'm concerned and just yesterday I had an opportunity to meet one of the opposition presidents of one of the political parties. And when I visited her at their secretariat, I was privileged to meet a very experienced good man there who told me something that impacted me and I was so happy to meet that person. This person said I may not quote exactly what he said but he told me that Kaunda was not a dictator. But the people around KK made him a dictator. These are the people who began to craft songs such as Whamiaia. The reason was for them to maintain status quo, for them to continue benefiting from his position. If Kaunda wins elections again, they are happy, they will keep on benefiting from him. What followed in 1991 is that KK lost elections. Those are the same people who began to say KK was actually a dictator. They forgot that KK brought about the invest of Zambia. They forgot that KK was instrumental in the creation of UTH, in the creation of the Tuta Road, in the creation of all roads from Musaka to Provincial Capitals. They forgot that KK developed the country. So instead of promoting the legacy of UNIP, they began to verify KK. Now when you do that, you are heading to destruction. Was that similar to MMD? Of course, yes. Very similar to MMD. You must remember when the last president of the MMD ex-excellency, the late Rupi Yambu Zangbani, kwa he was grouped down upon by his own members, who now started to move camp into the newly elected party in two of us, the patriotic front party. So for us in the PF, we already know the agenda for UPND is to destroy the legacy of PF. So for us who are in the PF, let's ensure that this legacy is maintained by ourselves. And this is why I'm saying today, there is no need for desperation because President De Garungu is there and he must be respected. If UPND cannot respect him, we should respect him. We should draw from him.  That's part of the reason I'm saying that. And I was educated just yesterday by a very good man, very experienced man. So by the way, his education was consistent with my belief because if you are going to pick three people who respect President De Garungu and one of them and there's nothing that can change me because President De Garungu has directed my work. So can you write to simply quote that your campaign is premised on the Edgar Lungu legacy? It is premised on the PF political ideology. Which is consistent with how Microsoft led PF and how President De Garungu led PF. Okay? Microsoft made mistakes. Ed Garungu made mistakes. Just like HH is making mistakes now.  My focus is on the PF ideology. That is my focus. And this is where my campaign will be based. This is why today when I'm speaking about PF, I'll be talking about the consistency of our ideology with what we have done in the past. The legacy of the patriotic front party must be promoted by ourselves. That is respect for the party. That is respect for our leaders. That is also ensuring that we sustain this party because it has done so much for the Zambian people. That is not to say. So it is without mistakes? Do you subscribe to the cause for the need to have the party rebranded? Of course. And what's generally your take on this? Of course I subscribe to that and it's very important to rebrand. We have to remake who we are and we need to do so constitutionally. So how does the party rebranded when you keep on referring to the former president? You see rebranding doesn't mean taking away what you have. There is no way you can view rebranding by taking away what you have, the good things you have. You have to consolidate on the good attributes. Consolidate on the good attributes and eliminate bad attributes. Eliminate bad attributes, introduce new ideas, introduce a new system, introduce new legislative provisions even within your own party constitution. Introduce those provisions which are going to make you appear more credible, which are going to make you not only appear as a matter of fact act in a credible manner and be able to push an agenda that is beneficial not only to a small group of people but for the entire country. So if we are talking about the problems of this unity, what can we do differently in order to consolidate unity? Those are the things we should be talking about. When people are complaining about kaderizim, what can we do differently to ensure that that story is dead forever?  These are the things. Who is possessing the qualities to be able to enhance our chances of ensuring that we carry forward the country into a direction that is sustainable for all the years. Those are the issues.


Can we you all appreciate why tensions in Europe are dominating the news... ...is these certainly taking up an awful lot of my time at the moment? But while we wait for some sort of resolution from the eurozone crisis... ...we can't take our eyes off the domestic economy or domestic politics. In fact international problems in my view only make it more important... ...that we address some of the underlying issues that are in our control, in our economy. If the crisis in the euro zone has shown one thing, it's that we're over-reliant upon those currently damaged and distressed markets. Insulating ourselves from external shocks like this will never be completely possible, but we can mitigate the effects by targeting trade with the fast-growing emerging economies around the world, by focusing on our areas of competitive advantage, by finding ways to be more productive, innovative and nimble, and in particular, and this is a theme I have been pursuing because I think it's been a bit of the Cinderella to debate, I think we need to focus more on the needs of our fast-growing, medium-sized businesses in supply chains within the mix of our economy. That's the bread and butter of what we can do, but it's a problem isn't it? The problem is every other country in the world looking for growth is doing the same thing. They're all looking at their sources of competitive advantage and they're certainly all chasing the emerging middle classes of the next tranche of economies in Latin America, Africa and Asia. So doing the right thing won't necessarily be sufficient. So I think we've constantly got to be looking for differentiators, areas where we have an extra competitive advantage, or looking at the debits on the balance sheet which we need to transfer into credits, potential achilli heel to our economic performance that we need to make sure don't bring us down. And I think the labour market and the importance of the labour market to our business model is a critical credit on the balance sheet which mustn't be allowed to be a debit. That flexible, highly skilled and motivated labour force. When I talk to big international investors who've come to the UK over the last few years, they generally see it as a plus. They'll tell me that that highly skilled, highly motivated, flexible labour force is one of the reasons why they like investing in the UK. But I don't think that should give us grounds for complacency because those of us who know the granularity of this labour market in more detail know that it's like the old adage. When we're good, we're very, very good, and when we're bad, we're awful. We do have some weaknesses in our labour market, particularly in the tale of less well skilled, less well positioned individuals who find it harder to find their place in a rapidly developing knowledge-based economy because the key thing there for me is how rapidly times are changing. The rising tide of global competition is altering what we mean by higher skilled. The balance of jobs available at different levels is shifting and shifting quite rapidly. And it's no surprise to me that in the recent rather encouraging labour market data, the encouraging bit of the labour market data is the amount of job creation, but wait for it, in the more highly skilled sectors. And that's the big challenge. I think it means we need to support particularly our young people along a more difficult path than many of us have travelled. And it means we need to do this more effectively than we've managed to do it in the past. A long tail of those far from the labour market is not a new issue. It's not a unique issue to the UK, but it's an issue in my judgment whose time has come. And the fact that with all the other business priorities that we have on our desks, so many of you are willing to give up time to talk about it this morning, I think supports the judgment that it's an issue whose time has come. As we rebalance the economy away from government and consumer spending towards business investment and trade, we need to address both unemployment and the more difficult topic of inactivity. We simply can't afford to continue having almost 6 million people on some form of out-of-work benefit when we're suffering skill shortages in other parts of the economy. But the bit of that 6 million I'm going to prioritise this morning because I believe it has to be the priority in a world of hard choices is the nearly a million young people who fall into that group of inactivity. Taking the whole of that group, the direct costs and the opportunity costs are simply too great. And we know what policy mix will need to tackle it. It's a mix of measures on welfare, on education, on labour market reform. We know what we need to do is just a lot more difficult to make it work and have traction. Now I'll touch on all of these today. First talking about how we react to the immediate crisis, how we support today's 14 to 24-year-olds with making their way in the world, and second how we address the long-term problems of our society and school system that lead to this drift inactivity. Before I do, however, given I'm going to focus mainly on young people, let me just say this, none of my comments should be perceived as talking down the young generation. In fact, I want to make quite the opposite point. I think today's young generation are highly impressive, and I think we ask a lot more of our young people in making their way in the world than was certainly the case in my and many of our generation. So it's not about saying young people aren't what they used to be. Young people are phenomenally streetwise, and therefore if they can't find their way through this complex fog into the labour market, there's something we are getting wrong, not necessarily the default answer that there's something they're getting wrong. The challenges, as I see it, isn't primarily about them, then it's about us. They're making choices from as early as the age of 13 that they will define what they'll be able to do for the rest of their lives. It's clear to me that employer concerns about some young people not achieving the right mists of basic and employability skills demonstrate there's a need to focus on the system that lets them down, from poor careers advice to failing to inspire, guide, and support them. It's particularly important we do more to help those young people being let down in the parts of the country where unemployment is high, skill levels are lower, and dependence on public sector spending has led to a weaker private sector seedbed, not exclusively in the north and the west, but more typically the further you get away, at least from the affluent parts of this city. And in particular it's a painful truth that young people will always do better where they have stronger parental role models. Now it's a big ask to a business community to say how much responsibility can we take for some of the weaknesses in the social fabric. But I think we do need to ask how we pick up that button and ensure that every young person has the guidance they need to make the most of their natural talents. Easy stuff to talk about in broad brush terms. Now I mentioned there are two parts to this, the short term and the long term. In approaching the short term I think to be honest there's three groups of people we need to think about. First there are those who have the ambition and actually have a good start on having the skills but because of the economic situation there simply aren't jobs. How do we keep those people motivated and enthused when doors simply get closed in their face? Second there are those who certainly have the ambition but lack the basic employability skills they need to realise them. They need a lot of help but they're halfway there. And third there are those who never develop the ambition in the first place often because of those socioeconomic factors such as intergenerational worklessness. For the first group the skilled job hungry young people well self-evidently it's a return to growth which is the major thing we can do to help them. I think there are things we can do to minimise the disadvantages they face. Hard choices like not putting up the youth minimum wage I think are pretty important and getting right some of the choices we make which we may think are mainly about education issues but actually have an immediate impact on the labour market. I still struggle with why it's a good idea to scrub work experience for 14 to 16 year olds. I struggle to understand why it's a good cost saving to lose capacity in careers advice particularly at this moment in the economic cycle. Now return to growth alone won't help these people who need more skills my second group for them to road to the labour market is bumpier and it's a little harder to find sustainable work as well as the right support from the state these young people will benefit from any opportunity to learn on the job be it through apprenticeships or studying for a degree or a college course part time. Be it frankly work experience and one of the frustrating things I've had to deal with since Christmas in the first half of this year is the way the work experience debate spiralled into a negative when frankly it should be seen as a positive. Again the advice challenge is substantial for this group. Now I think there are some good things happening apprenticeships and peer apprenticeship programmes are key they have to be good quality in CBI we look forward to engaging with the Richard review on that we also have to provide them on scale and overall I think we have a good news story here more and more people are studying for apprenticeships more companies are offering high quality training that helps people build lifelong skills in trades last year there were nearly half a million apprenticeship starts as many of you will know 63% higher than the previous year and as long as we keep the focus on quality as well as quantity that must be a success story business already invests huge amounts of time and money in apprenticeships we already talked to some of the companies in this room who are very active in that market and I think the apprenticeship wage subsidy introduced alongside the youth contract not talking specifically of the youth contract I'm talking about the 1500 pounds apprenticeship subsidy for every additional new hire I think should help tip the balance towards taking on more young people into that exciting opportunity but there are problems too for too many of our apprenticeship starts are at the higher level and these are sorry too few of our apprenticeship starts are at the higher level and these are much the most valuable route so I welcome last Friday's announcement of 4 000 new hire apprenticeships to be funded from the 25 million that the government announced and set aside in the budget but the other challenge for me is not cash cost but the swathes of bureaucracy accreditation assessment assessment and inspection frankly if you're asking a private sector employer to get involved in apprenticeships for the first time the notion that they'll be treated a bit like me as a school governor has to accept my school will be treated with an off-study inspection ain't the best way to signal that we want a business partnership into a friendship we hope the halt review will give us a pathway to addressing some of these issues of bureaucracy in particular through improved local brokerage to SMEs most pressingly of all however let me just come briefly to my third group the ones who have a lack of ambition as well as a lack of skill the hardest to reach now the work programme and the youth contract can play a role in helping them offering intensive support where previously I think they've fallen between cracks business wants to be part of this not out of some sense of corporate and social responsibility we want to be part of it because the case for action is compelling for the long-term help partly of the economy but equally importantly the fabric of society as I said earlier people are our differentiator and that's where we need to invest and the critical point here that we know but I think it bears repetition this is not a consequence of the recession it's been exacerbated by what happened in 2008 9 but youth unemployment has been rising depressingly and sustainably since 2004 so it's clear that a return to growth alone will not be enough to tackle the underlying causes particularly for that third group not having people with the right skills and attitudes means that unemployment is able to blight lives we're talking of a youth cohort who will work longer than we will need to work we're talking of a youth cohort who could easily be looking at 55 years of working life yet we hobble them with the scarring effects of unemployment in their first five years imbalances between regions of the country mount up further the costs of those millions of people out of work running to billions of pounds of benefit every year look at the last month's borrowing figures probably the biggest reason why the borrowing levels outpace the market was the downturn in economic growth and the immediate impact that has on the benefit bill the result is short divides between the haves and the have nots across generational lines as employers we can and should in my judgment step up and give all that we can to help young people have the chance that they deserve for government helping employers make the business case is important that's why the youth contract which I worked on in the latter part of last year with the DPM strikes the right balance recognising the work each employer is doing for the wider community and more than giving back the national insurance that an employer would pay in giving that young person a chance into employment so the challenge is making it simple for firms to be involved this is an area where the youth contract in my judgment needs to be made more successful I know it's early days but many employers phoning the helpline in the early days of the youth contract didn't receive the help that they needed that's certainly what my SMEs have been saying to me and it's just a fact of life we talk about the alphabet suit of initiatives which we layer one on top of another to help young people I'm paid to understand these things and help CBI member companies I struggle to keep up there are 47 different employer employment initiatives for employers in England alone which offer funding and support for businesses taking on and training young unemployed people busy firms need the process to be easier now business will step up but we need help if ever there was a case for not being able to see the wood for the trees this is it confusion dilutes well intention policies and the impact they should have and we can't have our young people being denied life changing opportunities particularly important as I've said for small firms so let's cut through the bureaucracy let's have a single portal for employers who want to get involved with well brief staff able to point firms in the right direction through their understanding of the suite of initiatives product knowledge one phone number one website that gives firms the information they need to make a difference the goal should be to increase take up of all the options on the table particularly the work program by offering a service that's right for business first time and I'm glad we'll be hearing later from transport transport for London about the progress the six prime providers here in the capital have made in delivering a simple effective interaction across all three of my groups of young people I've highlighted the challenge of advice which I think is a critical part of getting this right seems increasingly clear to me that there's a pretty big role for business that straddles the short term issues I've been talking about and the longer term challenges we face with raising ambition for all young people I think this means giving practical examples of young people to young people of why school matters like the fantastic new visitor centre at national grid's London power tunnels project I think this shows what can be achieved and importantly gives young people access to young employees working on a phenomenally interesting project like that people they can relate to means opening a route to better advice and workplace understanding that our young people need at especially at a time when I've already suggested the investment in schools careers advice has been going backwards by engaging with schools I think firms can help young people appreciate the choices and the possibilities that the future holds the STEM ambassador scheme science technology engineering mass as you'll know which puts people in the field into schools to talk about the real world has blazed a trail in what I think we need to do more of it's one we hope that the new inspiring the future initiative on school visits will help expand across more sectors and finally and most importantly it means business supporting schools on delivery by addressing the school's self identified need not presuming that we know where a school is looking for help business in the community's business class program leads in this field and I know Paul Dreschler from weights will talk about this in a few minutes embedding business school links like these is essential and there's much progress being made the challenge now is to get every school connected we need scale this was a thinking that lay behind the idea of local facilitators in the cbi's action for jobs report last november that ken mcmeacon of gregs led for the cbi and which we have a progress report table today the little a five booklet the idea is not to duplicate the exist excellent programs that I've mentioned but to create a network that helps extend their reach so so far I've looked to the immediate a young unemployed today young people from their early teens facing a tough labour market they lead us to they need us to make progress on the things I've mentioned so to summarize growth to create jobs our first priority investment in skills for the future especially through apprenticeships the second major contribution business can make support for young people in the labour market yes through a youth contract but turbo boosted by ending the confusion for employers of a myriad of schemes and finally embedding our progress in business links with schools and extending those links into areas where the private sector has so far had limited presence these are essential goals but it addresses the symptoms of a much more deep seated disease and it's to this I want to turn in my concluding comments some of the things I've talked about greater involvement of business with schools and vice versa vice versa will help but I think we need a broader more strategic debate with business at the table about why so many of our young people are not getting the support they need it's not about secondary education and the vocational paths alone it's about keeping people engaged in learning and I welcome the debate that started in the last week on the GCSE curriculum and whether it's fit for purpose where I might differ incidentally from the secretary of state it's not in the diagnosis but in the solution I think the question about the GCSE it should be a wider one if we have now as a country committed to the ambition which certainly the cbi supports to get all young people to remain in learning vocational or academic workplace school or college or training provider up to the age of 18 that we can no longer let young people seep out of learning before they've got an essential seed bed what is the purpose of a exam focus at the age of 16 rather than a learning focus at the age of 18 in truth however this is a later part of the challenge the more we've looked at what goes wrong and why so many young people fall between the cracks it takes us back to a story we know well about primary education about early years education about what happens in families before children even get into nursery classes the figures back this up and show how soon in a young person's life disadvantage can take effect by the age of three colleagues the children of graduates typically have vocabulary 12 months ahead of the children of less well educated parents by the age of five the average vocabulary test of those in the lowest income quartile is almost a year behind those in the middle quintile and by the age of 11 one child in three leaves primary school without reaching the expected standards in reading writing and maths and they don't catch up in secondary school they're not making sustained progress in all three basic aspects of their schooling and this leaves them with major problems as they try to develop their employability the problem for many of them is that the link between what they do at school and their future potential has not been made clear to them the reasons for applying themselves to do well at school are unclear the system doesn't help them key performance indicators that drive a culture of relativism that says it's okay if a certain percentage of young people don't make the grade contribute to that long tail of underachievement regulation of school leavers leaders and regulation of teachers that drives them to a tick box mentality rather than making the difference we all know they can and want to make leaves a lack of room for inspiration i've been struck in the cbi's work on education this year by how the truly inspirational teachers we meet tend to be the ones with a rebellious streak and good luck to them you have to have one to make a difference in our current education system and that needs to change we need more ambition for all we need to give young people an understanding of what they could be and the support to get there we need mentoring and positive role models for those who need help to understand what life can be there must be support for teachers who really make a difference underpinned by performance management that encourages the good performer and improves the less good and we need to have rigorous standards that stretch our children and finally i think we need an ongoing dialogue between schools and the world of work about what we want our young people to succeed in it's complex and yes more so than it was for us but there's more potential too i think the time has come for policymakers in all political parties to accept we need a long term strategy to develop the talent we need to enable us to succeed in a global economy that's why i've asked the team at the cbi to look deeper at how we school our young people and do so working with the education system not against them to complement the work we've done in the last six months on the access to the labour market and we'll be bringing our recommendations to our annual conference in november in london and i hope i've given you a flavour already of why it matters i think the education of our young people is a predictor of our future economic success it's the differentiator i talked about earlier i'm sure i haven't said anything to you today that's a surprise but the fact that this remains one of the absolute national priorities for business and government to tackle after all the summits we've had to tackle it says that we've been getting something wrong i don't think it's rocket science to tackle it but it does require a plan and effective implementation because it's the difference between the great exporter the great high-tech manufacturer and the leading world economy that we could be in the next decade or a lesser britain that the cbi is not prepared to put up with i don't think there can be any more central issue for business thank you very much


It's a new place for most of us, so it's a challenge, of course, but it's a cool challenge. I'm very pleased with the timing in the last one. Depending where you are, if you're going off to the water, of course, you're not going to be as fast, I think. So first one out after the water, but with a drier track, I've got some speed. It was really good, man. The track's nice. It's a funny shape, I don't know how much passing it'll be. We definitely need to climb up the championship a bit and secure a slot for next year, and I'm pretty busy at the moment now, which is good. I'm racing England, Sweden and Poland, so I've got plenty in the calendar. Lots of racing and not enough sleep, so it's good. I'm terrible at qualifying, so yeah, up there, I'm at the moment, but when it's race time, it's totally different to qualifying, so just get a good gate pick and hopefully we can go from there. Jason's exact stop position number five. Thank you. It's on the way up now. We've had some good meetings in the last couple of weeks, so keep the results of there. Hopefully I can get on the podium. So far, so good. We've had a good time early, but in the day is only practice, so it felt okay early. We're still playing about, testing a few things on the bike. Just getting a feel for things before tonight. To win is always a mission, but yeah, if we can aim for those semis and then from there one step further and get into the final, that's the goal.


What's up everyone? It's your girl Kenzie here on Layton Sports Cards. I am ripping a personal here for Shane M We've got a 2021 Panini prism football first off the line hobby box All right, Shane best of luck. You see your photo sticker right there for you Let's see we can get you Yeah, no one in queue after Shane gonna be live here for another 15 minutes or so So if you'd like something ripped today, I would get that order in right now Or else it'll rip tomorrow night with Caleb and Sam. The Force does not do personal Sunday nights after group breaks Here we go See some nice shimmers. It's a Trevor Lawrence rookie base And Shane Buccelli got a red shimmer of Miles Sanders to 35 Eagles They've got orange wave of Johnny Smith to 60 for the Patriots and break rookie Justin Fields RPA in the back here Ian Book rookie Ben Skronick, we've got red shimmer to 35 rookie of Jamar Jefferson for the Lions We've got rookie Chewbuck hover gold RPA boom I love go That is four out of ten on the three colored patch auto there nice hit Shane He's gonna have a huge year in Carolina Nice Hubbard Chubba hubba like that Take a gold RPA Cornel pal Jira Dokes Hyper to 175 Russell Gage Falcons and fireworks rookie Trevor Lawrence rock less nerve base Hoco dad's new son. We've got blue shimmer to 25 Noah Phant Blue wave to 199 Trey Kwan Smith Saints and silver T Higgins Patrick Mahomes Jay Amanra same brown rookie Got high long rookie Dolphins purple ice to 225 Rishon Evans and fireworks rookie of Jamar Chase Kyle Pitts rookie Jamie Newman red wave to 149 Quitty pay and silver rookie to 2 out well another auto Felipe Franks Zach Wilson rookie got a red shimmer of Pat Tillman to 35 That's a sick one nice one there for you Shane 19 of 35 on the Pat Tillman will mag that now we've got to 125 purple Quint Nelson those backwards and a silver Robert Woods Audiangbo Aziz a gelari got blue shimmer rookie Sam Ellinger to 25 nice color match there for the Colts Ellinger that is 19 of 25 and a Jason Taylor silver Daffae away boogie bash them red wave to 149 Mike Williams and Brilliant's Devonte Adams Peyton Turner, Sante Samuel, Jr. We've got Joe borough blue shimmer boom There you go Shane on the Joey B 23 of 225 Some beautiful shimmers coming your way nice second-year Joe purple ice to 225 Daniel Hunter and four of five blue shimmer auto dance and the man That is sick four out of five Nasty will mag that one too for you Shane Wow what a first off the line box two packs left See some big Quarterback color Tyson Campbell to Feli. We've got orange Ocho Cinco to 245 or 249. Sorry an emergent Michael Carter rookie Last pack here Shane Kelvin Joseph Rashad Bateman. We've got Jamar Chase on the hyper to 175 Nice one there. That one's pretty well centered too. One of the better centered cards for sure That is 166 out of 175. We'll mag that and silver all out Dak Prescott Alright Shane, that'll do it for your box. Congrats. There's some very nice cards coming your way and we'll get this right out to you


of budget deficits. For more, let's get Mark Bailey from FIG Securities. He's take on this. Mark, thank you for waiting so patiently for the treasurer to go through with his argument about what all this means. We know that neither he nor Chris Bowen, the other possible contender for that job, want to be the one who sees the credit rating pooled from Australia's grass to see that AAA rating pool. But first of all, your take, SMP choosing to move now, to move even before we have a clear indication of who the government will be. Is this just a warning shot or does it kind of illustrate how keen or how sure they almost are that we will see a downgrade of Australia's credit rating? Yeah, I mean, that's a really good point, Carrington. I think let's really understand what the negative outlook actually means. So when a rating agency puts a company or in this case a sovereign on negative outlook, what that actually means is that there's a one in three, only a one in three chance of a downgrade within the next two years. So it's not like it's a negative credit watch or on review for a downgrade where there's going to be an actual formal review process that takes place within two or three months. So it's not as severe at that. It is kind of a very mild warning shot across the bow. And as you've rightly pointed out, the election isn't decided fully yet, but it looks like we're going to either have a hung parliament or some kind of weak coalition government. But SMP's talking points in the research piece that they've published with the change in the outlook is very much focused on that fiscal deficit and controlling the budget. And what they've said previously is that that was likely to come in balance by 2013. That was the previous government's estimate. And that balance budget is now looking out into 2021. So kind of a further eight years out there. And obviously they can either tackle it by tackling spending or by tackling the revenue side of things. But in either case, it looks like that whichever government goes forward in the next few years is probably going to have a very little stomach or very little ability to try to address those issues because it's not got a strong mandate from the electorate. So that's going to be the problem going forward. In terms of the market's reaction, it hasn't been that great as you've seen in terms of the currency. The currency is down probably about 30 ticks. But in terms of the two years and the 10-year Aussie government bonds, they've probably moved one or two basis points. So I think it was potentially priced in the market. There'll be huge headlines tomorrow in all the newspapers. But is it a big factor for the financial markets? Not really. Is it a bit of a dent in the pride? Possibly. But I guess facetiously, you've just lost 3-0 in the rugby to the English. So the pride's already been hit. But in all seriousness, it's not the end of the world. It would be double A plus in that regard for the foreseeable future. And that's a very, very strong rating relatively. And in terms of the yields and what the attractiveness of Australia, it's not really going to dampen that from a foreign investor's point of view. Well, we are looking at the Australian dollar chart there. We did see an immediate sell-off in the aftermath, about a half of a cent. But it does look like it's now coming back. It does look like they're heeding your words, as it were Mark, suggesting that maybe it isn't as big a deal as you say. This isn't a clear indication necessarily that we will see a downgrade, an actual downgrade of Australia's triple A. But things as you brought up the rugby, Australia still has a triple A credit rating, unlike the UK, who saw a drop from triple A down to double A in one foul swoop. Take us through how quickly things can deteriorate here. But also the fact that Australia still has that credit rating, is it actually making a big difference to things like the pricing of our bonds? Is it making a big difference to the rates that people are paying on their home loans? Or is it all a little bit overblown? Look, I don't think a triple A rating is probably not what it was 10, 15, 20 years ago. I think it's changed significantly because the rest of the world has changed and there's been fewer and fewer members of that triple A club. I think there's only about 10 or 11 left and obviously if Australia falls by the wayside there'll be even one fewer. And in that regard, you've seen the US lose its triple A rating back in August 2011 and what happened there was actually bond yields fell exactly the same situation in the UK and that's a fairly mild and not particularly interested reaction from the government bond market in Australia on this news. It isn't a downgrade, but again it's a step in that direction. But I think it was widely expected that you would see some kind of reaction from the rating agencies either in terms of an outlook change or maybe even a step further being put on review on negative credit watch or review for downgrade and that hasn't happened. So you've had Moody's and Fitch come out at the moment and reaffirm Australia triple A with a stable outlook. Maybe they changed that once the new government does come into power and they get a better sense in terms of those fiscal targets which S&P has highlighted and the rest of the market knows needs to be addressed if it is to maintain its triple A rating. Another factor that S&P raises in its report as well is the significant amount of external funding which Australia requires given its small demographics. It's very reliant on offshore investors to fund that current account deficit and fund the government debt and also the state debt as well. And it does mention the state's balance sheets as well and says over the next two years there's likely to be continued deterioration at the state level as well. So that again indicates that you're going to see some kind of fiscal pressure on the states if they want to maintain their current ratings respective of where they are at the moment. But so it's the same everywhere. Governments are under fiscal pressure to try to drive growth but they've got their own constraints in terms of what they can do in terms of balance sheets and also from the rating agency's point of view and that's putting pressure more and more on the monetary authorities of each country or each region in the case of the ECB and to try to stimulate that growth and it's a difficult situation but I think in terms of bond yield in terms of market reaction in terms of what people are going to pay for mortgages I think this is going to be a material impact in that overall cost. I think it's going to be more important in terms of what potentially happens in the UK property space and their impact on UK banks and also what happens in the Italian banking sector in terms of the bailouts there and that in terms of global relative value and the impact on the Australian banks cost of funding when they fund in that global market will have a much bigger impact than Australia being cut by one notch to either AA1 or S&P's case AA+, you know I think that's going to have a much bigger impact on the banks cost of funding which will be fed through in terms of their the rates that they charge on the mortgages and on the deposit accounts as well. Okay Mark Bailey thank you so much for your insights we'll talk to you soon. Thanks Carrington.


merica by sending Japanese soldiers over the soldiers posing as citizens would Roosevelt been right for establishing a travel ban and a meteor is heading towards us that could destroy the entire southern hemisphere this is just hypothetical I'm gonna leave the meteor aside sort of when you're teaching what you gotta do you gotta take the good part really encourage that really now I'm gonna digress but I just watched an episode of The Unbreakable Kimmy Schmidt this should be your homework and Kimmy goes to Columbia and she learns she becomes a philosophy major and she starts learning about the trolley problem which I won't go into but it's a very classic problem in philosophy and she starts asking and everybody in the class is asking what trolley it is it's meant to be this moral dilemma that has nothing to do with the kind of trolley but they ask every irrelevant question about the trolley the meteor is a little bit but you had an earlier good point which was what do you do if it turns out that there really is a true factual security threat from some in your example members of the Japanese government that are trying to infiltrate the United States by a travel ban or would that justify what Roosevelt did in signing an executive order that eventually led to the internment of Japanese Americans and the answer to that is I think no in fact imagine in that actual case that there were some Japanese people who came into the country from Japan and posed a security threat would that justify what Roosevelt did which is rounding up Roosevelt signed an order allowing to happen and rounding up lots and lots of completely innocent people who had nothing to do with the government of Japan solely based on their ethnicity and the answer to me is wow that is I think one of the worst decisions in American history you can't blame people in a kind of collective punishment for their ethnicity because some people who have some ancient connection to them in the same country are engaging in some kind of bad activity that's a form of collective punishment it's a form of ethnic discrimination that has zero place in our constitutional culture you're right to push back and to say look here are the facts or these could be the facts and I think the answer that the modern court would give is we do not allow some actors who happen to share an ethnic profile with others we don't allow a blanket reason to go after an entire ethnicity and what they did in that case Supreme Court actually sided with Roosevelt they upheld the order they did not strike it down in Korematsu and that was a true constitutional tragedy we know that Putin supposedly we know this has tried to manipulate our elections I wouldn't put it past him sending refuse nicks into this country Russians posing as I don't really believe this by the way but I'm just it's a hypothetical we know that we're not at war with Russia but there's some kind of tension and they're trying to undermine our system so says the intelligence community if you can believe them but what if Putin starts sending Russian people into the country seeking asylum and we suspect that he's just sending what they call fifth columns well you know there's nothing and this is important I should have clarified this too when you were giving your Japanese example there's nothing that prevents the government from vetting people I mean that's what the Obama administration was doing was they had a series of procedures that looked at who somebody was who their background was and whether there was a chance that they posed a danger to the country and certainly the United States did and continues to exclude people based on an investigation of how dangerous they might be and based on a kind of close vetting that vetting includes going through their Facebook accounts what they say they don't have full constitutional rights but what we're saying and what I think the Supreme Court should say is that there's nothing that prohibits the government from exercising vast powers of inquiry and figuring out who comes into the country or not and it's actually the obligation of the executive branch to keep the country safe but there's no evidence in this case and we could look at the other examples that you're giving that there's any increase in the security to the United States that comes from this ethnic discrimination as opposed to what was going on in the Obama administration so you know what's the point of it what's the rationale it looks like it's just bigotry and this is what a number of the one of the judges on the West Coast said in one of the early cases is what is the point of this policy what is it going to do that would be better than the previous policy and the government had a very hard time giving an answer to that So you're saying that if this travel ban had been issued by Obama it might hold up I don't think he would have done it there would be no reason to have a ban that's the point the policies they had in place were more effective than the current one based on individual vetting yeah vetting of the individual rather than somehow giving a I don't know a basing it on ethnicity or your religion which seems like the worst way to do it Well Trump claims that the idea of the travel ban came from the Obama administration Yeah that's completely false the Obama administration had designated some of these countries for my understanding is for privileges when it came to immigration and at one point they decided they were going to do away with those privileges for I think it was for dual citizens from those countries and the Obama administration said you know what this doesn't make sense to have these privileges anymore but the idea that there was some sort of semi travel ban from these countries is false On the last show not with you I was talking about it's not what you say it's who says it for example Bill Maher has gotten into hot water for using the N word and I maintain it's really not about the use of the N word it's about Bill Maher it's because he said it because people don't trust him anymore due to his comments about Islam if something happened in this country that necessitated Obama issuing a travel ban which is not you know he deported more undocumented workers than every other president of the past 30 years combined I mean ICE really found its power in the Obama administration we remained silent on it because of what Obama sounded like so isn't it often as we've learned from Lakuma it's not what you do it's really what you said before you do it well it's partly that but it's not just word it's about the kind of motivation and I you know I disagree with some of the policies of the previous administration but what I think is different about this administration is I don't think that Obama was engaging in intentional discrimination based on religion or race or ethnicity I think to the contrary he taught I mean it's kind of an amazing contrast when he was at University of Chicago Law School he taught Constitutional Law and he had a deep commitment to the idea that no matter what a president does they can't discriminate based on race religion or ethnicity and I think he vetted their policies to make sure precisely that they weren't doing that now as we were saying in the beginning of the conversation not only has President Trump not internalized these norms he seems completely unaware of them so that to me is just a striking contrast in the Constitutional Law Professor really devoted his life to the idea of equal protection and somebody who couldn't even tell you what that was or what provision that came from. We're almost out of time and I want to be respectful of your time and I want to have some quick questions about Comey but I just want to push back on something with Obama because I do find this interesting when it comes to what people do versus what they say and who can't. I love Obama I agree with you he's a Constitutional Law Professor Harvard Law Review we trust him with the Constitution Trump on the other hand is this Wharton you know went to Wharton Business School for two years hasn't picked up a book I think that an argument could be made that Obama is guilty of just as many Constitutional Prisons as Trump extrajudicial killings the rounding up of primarily undocumented Mexicans record numbers of undocumented Mexicans being rounded up by ICE not being given equal protection being sent to private prisons not being given lawyers being forced to go through administrative law as opposed to government law but it's Obama so it's okay I guess I want to agree with you here rather than try to fight back you're making again a deep point which is we tended to excuse constitutionally problematic policies when it was somebody who I'll admit that I was a fan of Obama and so I wasn't speaking out on a daily basis against him I just admired him and in retrospect that was a mistake I think that we have to going forward regardless of party take constitutional limits seriously say the kind of things that you were saying but I don't want to create a false equivalence I think he did things that were constitutionally problematic but not intentionally in the way that Trump did he didn't have intentional discrimination at the basis of a lot of his policies and as an order of magnitude saying you're going to torture the families of suspected terrorists with its many constitutional violations in that one sentence Obama never came anywhere close to that I think he had a good faith desire to comply with the constitution even if all of his policies did not I want to move on because we're running out of time and this is by the way this is the best episode I've done with you thank you this is fantastic do I thank you or say congratulations Sorvino ordered red wine that's how good it was I'm going to give you a little I'm throwing you a bone so one of the things I've kind of learned today realized is I understand now what Trump is thinking about power if you get into that tiny head of his I think he understands what I happen to believe which is what you say or what you do it's how you say it it's who is saying it and it's who is doing it I think that's what Roy Cohn taught him I think that isn't fair and we have to prevent that from continuing to happen but that's what Trump believes right I think so from what I've seen and listening to him for these past year at least and before he does not seem to be motivated by ideals he doesn't seem to have anything like an ideology or values aside from his own interest and you know there are academics trying to figure out what Trump stands for what Trumpism is and to give it the best possible spin that's an impossible task because this is somebody who is really from the Roy Cohn School of Politics it's all about power and angling it's the guy who when he met Winston Churchill ate off his plate it's not somebody who's having a deep conversation about what the values of a Democratic Republic should be seems to me Roy Cohn learned this wasn't his father a judge it's been a long time since I read it Roy Cohn's father yeah Roy Cohn's father was a judge so he knew something that maybe some of us didn't know going into law school very quickly very quickly and try to keep it clean I think he went to Columbia that's the other thing I remember yeah let's keep it clean if you can try Comey FBI Chief James Comey testified yesterday before the Senate Intelligence Committee you know they had the countdown clock on every network how big is this everything has to be big everybody everything this is as big as Watergate this is as big as Contragate this is as big as David Feldman's first Tonight Show appearance how big is this I mean is it on par with my appearance on match game that's the question again got a little lost there we're told that there's so much hype in this country and there's the countdown clock you know five hours until James Comey testifies this is big don't bother going to work today it's a snow day because Comey's testifying this is the Army McCarthy hearings this is Watergate this is Contragate this is David Feldman you're saying what's the big deal I'm asking you is it as big as you I think it is oh my god James Comey it looks like from what he's going to say he's testifying today that the President of the United States cared more about loyalty to him than loyalty it's exactly what we're talking about than loyalty to the Constitution and the idea that he you know when the Flynn investigation seemed to imply that it was important to back off because of being one a member of the team and Flynn is a good guy he's got a lot of votes that was used rather than doing the job of the one of the most important law enforcement officials in the country which is to apply the law impartially that's frightening and that is impeachable without question I've heard enough through these various instances of threatening to disobey judicial orders of firing an FBI director in order to impede an investigation that even if there is not legal culpability in the criminal law our obligation in thinking about whether there's a high crime or misdemeanor is not a legal one it's a political one and it really comes down to whether we have a president that is or is not able to enforce the basic requirements of the Constitution and what we've been saying really builds up to this point not only is he not able to he's unaware of and indifferent to its requirements and that's why he could basically fire this person demand loyalty to him over loyalty to the Constitution it is devastating and it is I think worse than what happened during Nixon because Nixon was a lawyer and had many many psychological and personal faults and you know we could go through the list of what was wrong with Nixon but this level of hostility to the not just the Constitution but the rule of law is unprecedented and yes it is time for the Republicans to step up and to begin impeachment proceedings just try to filter all this through the Republican brain and I'm just trying to understand how they can defend this asking the head of the FBI not to investigate that would be obstruction of justice right I mean that's just I mean my point is you know it might be that's a real question is whether or not he violated the criminal law which bans competing criminal investigation but my point is that the question of impeachment is not that we are asked when we talk about high crimes and misdemeanors the reason why the founders delegated the task to the Congress the House of Representatives to impeach and the Senate to try is because it's not a legal standard and it's not just partisan politics it's not let's do this to anyone we can but it is a question for the American people and their representatives in Congress to ask whether or not this president is hostile to the basic principles of the rule of law and so even if it's not criminal it is I think enough for impeachment the president had been thinking of blocking Comey from testifying there was no way a president can prevent a private citizen which Comey is from testifying right I mean I'd have to hear the argument but I don't see how you know there is this idea of executive privilege and Nixon tried to use it to keep the water gate the tapes from the Oval Office and that concerned water gate from a subpoena and the court in U.S. versus Nixon basically to me said the president is not above the law now there are some presidential immunities and some privileges so for instance you can't just subpoena the president's counsel and ask him or her to testify about what the president said in a confidential conversation there's work product that's privileged and a lot of the business of the Oval Office is I think potentially privileged but what is not possible to do is to use executive privilege to as you said prevent the now private citizen from testifying I mean there is a case called Fitzgerald whether you can sue the president for money damages for official acts and what they say there is that you can't but that's not what this is about this is about a president trying to stop a former employee from testifying and I don't see any precedent or argument for why he could do that and you know what I think if he could have he would have done it I think he would must have told them there's no way well this was the best you were amazing and you were so good here's your treat I was wondering I thought you were going to give us the wine no I'm going to give you something even more that big lunch that I had at Jerry's in the valley with Lou Schneider and Jay Cogan the comedy writers here you go you deserve this for dessert Lou Schneider had cheesecake with blueberries on top he finished half of it patted his stomach and said you know what it's the middle of the day I should stop Jay Cogan ordered the sugar free banana nut muffin and finished it although he said it's greasy and what they do to make up for the lack of sugar is they put a lot of fat in this and so it's empty and not satisfying but I'm going to finish it and go take a nap okay well I've got this on tape there so that's what and I do like cheesecake Professor Cory Brett Schneider is a constitutional law professor at Brown and Fordham he's the author of When the State Speaks you've read him in the New York Times Politico he is a God bless you sir this is the highlight of my week it really is my pleasure I always have a great time thank you thank you thanks for listening please friend me on Facebook follow me on Twitter hey do me a favor give us a good review on iTunes remember to do all your Amazon shopping via the David Feldman show website we get a small percentage of everything you purchase the way you do it is you go to the David Feldman show website David Feldman show .com you'll see an Amazon banner click on it go all the way through to the Amazon site shop away and we get a small percentage of everything you purchase during that shopping session and then after you do that hit the contact button back over at the David Feldman show and let me know that you did that so I can thank you hey hit the contact button over at the David Feldman show and just say hello tell me what we can do to improve this program for as little as $5 a month you can gain access to all our premium content go to David Feldman show .com hit the go premium button we accept all major credit cards I guess that's it from the showbiz studios in downtown Manhattan Medicare for all


Good morning, stock traders. Welcome on this March 21st. How's everybody doing? Good to see you all. Good morning, everybody. All right, Michael, good to see you. Ken, good to see you. Phil, Tim, Lewis, good to see you all. All right. So anyway, guys, what a rollercoaster we had yesterday regarding what happened in the market. That went up big. It went down big. I know there was more of our second protocol, but there were a couple of good stocks that did move yesterday. And before we actually go there and talk a little bit about that, I just want to remind everybody that we have a big early bird special for everybody here. You know, once a year, we have our big event where we have the Cyber Trading Summit 2019. It's one of our signature events that we do. So if you haven't registered yet, we have the Soiree. That's the day before. Two full days of trading. We have some guest speakers that are going to be here talking about options. Some guys talk about swing trading. But mainly, all of us stay trading together. I know some of you guys have been here two, three, four times. So if anybody's interested in getting into it, feel free to go out there and register and just talk to Education Advisor to tell you a little bit about it. All right. So don't lose that opportunity to get the early bird special, super early bird special, what they call it. That must be a new one. I haven't heard that one before. So what are the dates? The dates are not on the screen. I don't know why, but it is going to be in September. I think it's the week after September. Let me see. I think it starts September 10th. 10th, 11th, and 12th. There you go. All right. Just so you guys know. Now, what's the difference between a blue carpet and a red carpet is that we don't use the red carpet is Hollywood. Blue carpet is here for traders in New York. I guess that's where we got the blue carpet from. A little bit of a different, more of a trader than more of actors. So we go blue instead of green than red. We don't want to be in the red. We want to be in the green, right? There you go. Deficit is not our thing, Wayne, exactly. All right. So let's talk about some of the stocks that didn't move yesterday because we did a couple of things that had some nice little pops. We'll talk a little bit about them.  So you can see that stock took a huge hit. Let me just bring up and change the little chart here so you can see a little bit more. I had a great, great pop red. The gate had nice little thousand flags right there. Went from 220 to 420, and then it just came right back down. This little thing right here scared me a little bit right here for some of us that jumped in. But if you got in early, what do we always say? Just take the money and run, guys.  You know what I mean? It filled the gap. It hit the resistance levels back over here in December, and boom, the thing came right back down. So one of the big things that you learn being here at Cybertrain University and being a trader here is that it's not about the winners. You've got to learn from the losers. So you don't make that dumb mistake again. So I know a lot of us were cheering and high-fiving in pre-market, but I know some people like, oh, okay, now, you know what? I missed it at 250. I missed it at 3. Let me pay $4 for it. I mean, like, guys, not every stock is going to be like the BPTH. We all know about the BPTH trade. Actually, she's down today, big time. But the stock went from $1 to $75. You know, in one day it went from $16 to $75. So, you know, you can't look at this like this is the next one. Always focus on your day's pay. You get it, you know, all it's what it comes down to is being at the right place at the right time.  It went from $380 to $480. That was another pretty cheap one.   I don't know what's going on with it, but I do know that they're getting sued for $250 million. I don't know if they're going to lose whatever, but obviously it didn't affect the stock price. So, you know, but once again, Twitter a little bit more of a faster-moving stock, a little bit more of a brand name. Got to be a little careful about that.  But you can see that JNUT when that news came out, that one I think a lot of us did pretty well on that one, $1020 to $1140.  By the way, he just sent me an email for some of you probably haven't seen him here. He's been one of our loyal students. He was a little ill and he's doing great. Just wanted me to kind of do, let everybody know, you know, like I said, we care about all our fellow traders here in the cyber group room.  He's been here for years. So, just wanted to kind of let everybody, let everybody, yep, it's right. He's going to, he's going to Aruba now. He had to go back. He had some issues, you know, with his heart and stuff. And he may have gone back, but now everything's cleared. And he's fine. He's going to go to Aruba. He'll be checking back in soon. So, listen, the beauty about this job is, you know, you don't have a boss. You can come and go in. You can do what you want. And you can still jump in and make money. And the whole point about us as a team is that we work together like a team. So, everybody can jump in and just say, hey, what's going on? Hey guys, how you been? Did I miss anything?  This thing is moving. We got to jump in and make some money on this stock. So, you could just pick up right where you left off. So, anyway, where were you left off from yesterday? Let's all start off with the SPI trade right here. This stock, listen, great pre-market trading. Stock just popped right now again. You could see it right there. Everybody's, let me just lower the pre-market trading. But listen, the stock at 8.30, did its 8.30 move from 3 bucks all the way to 5. Now it's kind of holding 5.50 to 6. And boom, look at it. It almost went to 7. So, you're talking about the stock right now. It's trading right around these price less levels. It's going to test some resistance levels right there. Let's just go over here where the matrix is and just show you what got going on right there. It's not moving over. So, anyway, we're getting a lot more buyers. Look at that 10,000-chair buyer just showed up here on the bid. Not that many sellers. What does that tell you guys? Supplying demand. Follow the money. OSS, another one that's moving quite a little nicely this morning too. Up 46%. Another little cheapy stock. We're always favorite. Listen, stock right here. It's got resistance around 4.50. Looks like it's got some good move left. Great orders. 3,000-chair bids, a lot of hundreds over there. Once again, follow the money. SCON, another one that's moving. But the only thing, I'm bringing this one up. It's not up a lot. She popped a little bit earlier and she backed off. But the only concern I have is it's got a big spread on it. It's not up a lot, but 79,000-chairs did trade. The stock was a $14 stock, got destroyed, could have learned that all just by day trading it. Listen, like I tell everyone, you want to be a good swing trader, you damn well better learn how to day trade first because you don't know what happens over the course of the day in a position you could lose it all tomorrow. So, that's why one of our rules is never hold positions overnight. CFMS, another one that's moving. It's been really steady lately. This stock has just been moving really, really comfortable. A dollar stock almost at $2.50 in the last couple of days. You could see it, great day trade from a day trade. Now it became a swing trade. The only concern I have right now is it's going to be testing some resistance levels. It broke through this resistance right here, which we saw right around $2.50, but now we've got $3.00. A lot of orders out there. So, don't worry about this stock. Great little level one stock. Everyone can afford to trade it. You're fine. Now the big news is this one right here is the BIIB, Biogen. Stock is getting destroyed down 27% today. Stock is literally almost down 100 points. Well, guess what? We're not trading it, okay? Why do I got to go out and trade at $230 stock? I could go trade, I could trade SPI up 142%. It's almost 100 times less money. And at the end of the day it's all about making money. So, I'm only bringing it up because I'm watching it on the financial stations are talking about it. I follow other people in the industry, what they're looking at, other schools, and they're talking about this. And you know what their excuse is? You know what they're saying? Oh, don't worry about it. Who says you got to spend $230? Trade the options. Once again, you know my motto, that's a poor man playing a rich man's game. If you can't afford to trade the stock, then you can't afford to trade. Don't try to take shortcuts. There's a level five trader here and you're one of the traders that make average $1,000, $2,500 a day. Maybe this is something up your alley. But once again, SPI has been doing a lot better for us than the other ones. SPI, right? There we go, Ben. Up 150%. That's the way to go. Anything I'm missing at that, I did not call out everybody. I think we pretty much got the list. All right, so once again, by the way, today, we do have an open house at 12 o'clock, so hopefully everybody will be there. We're going to try to recruit some more traders. Once again, not everyone really qualifies to be a trader at CTU. So we let them sit in the room, we talk to them, and then we'll just tell you if it's for you or not, because remember, we get hundreds of people that register here to be part of CTU's program and 90% of them, 95% of them, we do not qualify. They want to, but at the end of the day, I just want you to understand, it's not worth it for me. It's more or less not worth it for you to be part of a team if you really don't qualify, because trading, I know everybody wants to do it, but it doesn't mean everybody should, all right? I know it's a free country, but it doesn't mean you're free to blow money either. So if you want to come and meet us, once again, if you watch this YouTube, be happy to be there, find out the real truth, and then everybody want to know a little bit more about what everybody has to say. Remember, you were there once before, so go out there and we'll see what the people have to say and kind of see where we started. Anyway, SPI is doing great, so everybody is doing good, all right? Good luck, everyone. Happy trading. See you back at 2.30, and don't forget classes going on today. And also, don't forget about the Super Early Burtz discount on the Cyber Trading Summit that starts on September. Okay, guys? Good luck, everyone. Happy trading.