MetroFocus

FULL EPISODE

MetroFocus: April 3, 2020

PANDEMIC PANIC: THE STOCK MARKET REACTION TO COVID-19, PARKS AND THE PANDEMIC.

AIRED: April 03, 2020 | 0:28:17
ABOUT THE PROGRAM
TRANSCRIPT

>>> UP NEXT, "METROFOCUS," WE'RE

WORKING FROM HOME, BUT WE'RE

DEDICATED TO BRINGING YOU THE

IMPORTANT STORIES ABOUT HOW OUR

AREA IS AFFECTED BY CORONAVIRUS.

>> THIS IS "METROFOCUS" WITH

RAFAEL PI ROMAN, JACK FORD, AND

JENNA FLANAGAN.

>> "METROFOCUS" IS MADE POSSIBLE

BY

JAMES AND MERRYL TISCH,

SUE AND EDGAR WACHENHEIM III,

THE SYLVIA A. AND SIMON B. POYTA

PROGRAMING ENDOWMENT TO FIGHT

ANTI-SEMITISM.

BERNARD AND IRENE SCHWARTZ,

ROSALIND P. WALTER,

BARBARA HOPE ZUCKERBERG,

AND BY --

>>> WELCOME TO "METROFOCUS."

I'M JACK FORD.

OUR NEW REALITY IS A TERM WE

HEARD FREQUENTLY NOW TO ATTEMPT

TO DESCRIBE THE CONSEQUENCES OF

THE CORONAVIRUS PANDEMIC, IN

ADDITION TO THE SHOCKING LOSS OF

LIFE AND THE RISING RATE OF

INFECTION AND ANOTHER INDICATOR

OF THAT NEW REALITY AND THE

CONSEQUENCES HAS BEEN THE

TURMOIL EXPERIENCED BY THE WORLD

FINANCIAL MARKETS.

SO, WHAT CAN HISTORY TEACH US

ABOUT THE CAUSES OF THIS TURMOIL

AND AS IMPORTANT ABOUT THE

PROSPECTS FOR RECOVERY.

TAKE A LOOK AT SOME OF THESE

ISSUES WE'RE PLEASED BEJOINED BY

PROFESSOR WILLIAM GOETZMANN,

PROFESSOR AND DIRECTOR OF THE

INTERNATIONAL CENTER FOR FINANCE

AT THE YALE SCHOOL OF MANAGEMENT

WHO HAS DONE EXTENSIVE RESEARCH

AND WRITING, IN ADDITION TO

OTHER TOPICS, ON WORLD FINANCIAL

HISTORY.

SO, PROFESSOR, THANK YOU FOR

JOINING US.

>> THANK YOU FOR HAVING ME.

>> I WANT TO GET INTO SOME OF

THESE PRIOR HISTORICAL EVENTS

YOU'VE DONE SO MUCH RESEARCH AND

WRITING ON, TO GIVE US A SENSE

OF HISTORICAL PERSPECTIVE.

LET ME SET THE STAGE FOR OUR

CONVERSATION BY ASKING YOU ABOUT

WHAT THE FACTORS HAVE BEEN THAT

HAVE BEEN DRIVING THE VOLATILITY

WE'RE SEEING CURRENTLY IN THE

WORLD.

>> THE BIGGEST FACTOR IS

UNCER

UNCERTAINTY.

UNCERTAINTY ABOUT WHAT THE

FUTURE PROSPECTS OF THE

COMPANIES THAT MAKE UP THE STOCK

MARKET MIGHT BE, UNCERTAINTY

ABOUT THE FINANCIAL SYSTEM AND

HOW ROBUST IT WILL BE, SO IN THE

FACE OF ALL OF THAT, THE MARKET

IS JUST GOING TO BE FLUCTUATING

FOR A WHILE UNTIL IT CAN SORT

ITSELF OUT.

>> I SEE SOME PEOPLE HAVE

ATTACHED THE TERM IRRATIONAL

BEHAVIOR TO WHAT WE'RE SEEING IN

THE MARKET.

IS THAT AN ACCURATE TERM, DO YOU

THINK?

>> I DON'T THINK THE FLUCTUATION

NOW IS PARTICULARLY IRRATIONAL

BECAUSE I DON'T THINK ANYBODY

KNOWS RATIONALLY WHAT THE RIGHT

PRICE FOR ALL OF THE STOCKS IN

THE STOCK MARKET MIGHT BE RIGHT

NOW.

SO I THINK THIS IS RATIONAL

UNCERTAINTY THAT HAS JUST GOT TO

WAIT UNTIL WE UNDERSTAND MORE

ABOUT THE DURATION AND THE

EFFECT ON THE ECONOMY OF THE

VIRUS.

>> SO LET ME ASK YOU THEN TO

HELP US PUT SOME OF THIS

VOLATILITY INTO A HISTORICAL

PERSPECTIVE.

BY DOING THAT, WE LOOK BACK AS

YOU HAVE DONE SO OFTEN IN YOUR

RESEARCH AND WRITING UNTIL WE

CAN LEARN FROM OTHER EVENTS.

SO LET ME START OFF, SINCE WE

HEAR SO MUCH NOW IN TERMS OF

PEOPLE TRYING TO MAKE PARALLELS

BETWEEN WHAT WE'RE EXPERIENCING

NOW AND THE INFLUENZA EPIDEMIC

OF 1918, THE SPANISH FLU, THOUGH

HISTORIANS SAID TO US THAT IT IS

A MISNOMER, IT DID NOT IN FACT

START IN SPAIN, BUT THE TERM HAS

CONTINUED TO BE USED FOR 100

YEARS NOW.

LOOKING AT THAT 1918 CRASH, THE

WORLD CRASH, EXPLAIN TO US WHAT

THE FACTORS WERE THAT DROVE

THAT.

>> WELL, THE FIRST WORLD WAR IS

ONE BIG FACTOR.

IT IS KIND OF HARD TO

DISENTANGLE THE EFFECT OF THE

WAR FROM THE EFFECT OF THE

INFLUENZA EPIDEMIC.

THE MARKET SHUT DOWN WHEN THE

WAR BEGAN AS A MATTER OF FACT.

IT IS THE LONGEST HIATUS WE EVER

HAD, SEVERAL MONTHS WHERE THE

STOCK MARKET WAS SHUT AND PART

OF THAT HAD TO DO WITH THE

UNCERTAINTY ABOUT THE FIRST

WORLD WAR ON THE FINANCIAL

SYSTEM AROUND THE WORLD.

SO THE SPANISH FLU CAME TOWARDS

THE END OF THE FIRST WORLD WAR

WHEN AMERICANS WERE GOING OVER

IN BOATS TO FIGHT ON THE ALLIED

SIDE.

AND SO THERE WAS SO MUCH GOING

ON AT THIS TIME, IT WAS REALLY

HARD TO FIND SOME KIND OF CLEAR

TREND IN THE NEWS THAT WAS

DRIVING STOCK MARKET CHANGES.

SO IT IS AN OBVIOUS MODEL BUT IT

IS REALLY HARD TO TAKE A BIG

LESSON AWAY BECAUSE SO MUCH WAS

GOING ON IN THE WORLD AT THE

SAME TIME.

>> AND WHAT ABOUT THE RECOVERY

AFTER THAT CRASHES.

DID THAT HAPPEN?

DID IT HAPPEN RAPIDLY?

WAS IT GRADUALLY?

WAS IT SURPRISING YOU AS YOU

LOOK BACK AT IT, HOW WOULD YOU

CHARACTERIZE IT?

>> IN THE UNITED STATES THERE

WAS DEFINITELY A RECOVERY, 1919,

AND THEN STOCK MARKET I THINK

WENT UP.

BUT THEN THAT WAS FOLLOWED A

YEAR LATER WITH THE BEGINNING OF

THE PRETTY SEVERE RECESSION AND

IT WAS A GLOBAL RECESSION AS

WELL.

SO IT WAS A VERY VOLATILE TIME

PERIOD, JUST LIKE IT IS NOW.

A PERIOD OF UNCERTAINTY ABOUT

WHAT THE -- HOW THE ECONOMY

WOULD ADJUST TO THE POST WAR

EXPERIENCE, AND THEN HOW THE --

WHAT OUR RELATIONSHIP WOULD BE

LIKE WITH THE REST OF THE -- THE

REST OF THE WORLD AFTER THAT.

>> ANOTHER PERIOD OF TURMOIL IN

THE FINANCIAL MARKETS THAT MOST

PEOPLE ARE FAMILIAR WITH WOULD

BE THE OCTOBER 1929 CRASH.

HOW ABOUT THAT?

HOW ABOUT THE FACTORS LEADING UP

TO THAT?

>> WELL, THAT ONE DEFINITELY HAS

ECHOES OF OUR CURRENT VOLATILITY

BECAUSE SUDDENLY THE MARKET

STARTED TO FLUCTUATE LIKE CRAZY,

YOU HAVE SWINGS OF 7% IN A DAY,

12% IN A DAY, LIKE WHAT WE HAD

PAST FEW WEEKS.

BUT THE REASONS FOR THE SWINGS

THEN ARE DIFFERENT THAN THE

VOLATILITY WE HAVE NOW.

THE -- NOBODY REALLY KNOWS

EXACTLY WHAT CAUSED THE CRASH IN

1929.

BUT SOME OF IT IS PROBABLY DUE

TO FINANCIAL INFRASTRUCTURE, IF

YOU WILL, AND SPECULATION, AND

THE USE OF STOCK LOANS TO

FINANCE THAT SPECULATION.

BUT WE DO KNOW THEN THAT THE FEW

YEARS LEADING UP TO IT WERE A

PERIOD ALSO OF SPECULATION IN

LAND, IN FLORIDA, AND BUILDING A

SKYSCRAPER AND SPECULATION IN

PROPERTY IN MAJOR CITIES, THE

UNITED STATES.

AS WELL AS A PERIOD OF

INCREDIBLE TECHNOLOGICAL

INNOVATION WHICH RAISES

POSSIBILITIES BUT ALSO

UNCERTAINTIES AS TO WHAT THE

RIGHT PRICES ARE FOR ACCESS.

>> HOW ABOUT THE RECOVERY

FOLLOWING THAT GREAT CRASH OF

1929?

>> WELL, WE HAD TO WAIT A WHILE

FOR SERIOUS RECOVERY.

FOLLOWING THE CRASH, WE WENT

INTO THE GREAT DEPRESSION.

AND THERE HAS BEEN MANY DECADE

LONG DEBATE ABOUT HOW MUCH THE

CRASH MIGHT HAVE CONTRIBUTED TO

THE DEPRESSION OR VICE VERSA.

AND SO I DON'T THINK WE REALLY

QUITE KNOW THE CONSEQUENCES OF A

SHARP DECLINE IN THE STOCK

MARKET LIKE WE JUST HAD.

WE'RE STARTING TO FIND SOME

EVIDENCE ABOUT HOW THIS CAN

CREATE SOME DISJUNCTION IN THE

FINANCIAL MARKETS WHEN YOU HAVE

GREAT SWINGS IN ASSET VALUES,

YOU ALSO HAVE LARGE LOSSES IN

GAINS BY FINANCIAL INSTITUTIONS

AND INVESTORS.

HOW DISRUPTIVE THAT WILL BE TO

THE REAL ECONOMY IS A QUESTION

THAT IS ON EVERYBODY'S MINDS

RIGHT NOW.

>> AND HOW ABOUT THE TURMOIL

THAT WE EXPERIENCE IN 1987, HOW

WOULD YOU CHARACTERIZE THAT AND

WHAT ARE THE FACTORS THAT DROVE

THAT?

>> THAT WAS A BREATHTAKING DROP

IN ASSET PRICES THAT CAME IN THE

FALL OF 1987.

IT WAS -- IT WAS A ONE DAY DROP

THAT WAS BIGGER THAN THE CRASH

IN 1929.

AND IT SEEMED TO COME AT A TIME

WHEN THE ECONOMY WAS SAILING

ALONG FAIRLY WELL.

AND WHEN THAT CRASH HAPPENED, I

THINK THERE WAS A FEAR THAT

MAYBE THIS WOULD KICK OFF A

RECESSION LIKE IT DID IN 1929

AND IN FACT IT DIDN'T DO THAT AT

ALL.

1987 WAS ACTUALLY A FAIRLY

STABLE YEAR FOR THE STOCK MARKET

IF YOU JUST SLEPT THROUGH A FEW

MONTHS, IT WOULDN'T HAVE SEEMED

UNUSUAL TO YOU.

>> WHAT HAVE YOU -- LET'S COME

BACK TO 1987 FOR A SECOND,

BUTTON THAT UP IF YOU WOULD, HOW

ABOUT THE RECOVERY?

YOU SAY IT WAS DIFFERENT FROM

THE OTHER ONES THAT YOU HAD

DESCRIBED AND I THINK THE -- AS

YOU SAID YOU MIGHT HAVE SLEPT

THROUGH IT IF YOU DIDN'T NOTICE

IT.

DID IT REQUIRE THE SAME TYPE OF

EFFORT TO GENERATE A RECOVERY

THAN SOME OF THE OTHER EVENTS

HAVE SHOWN US?

>> WELL, I DON'T RECALL MUCH IN

THE WAY OF STIMULUS BY THE

GOVERNMENT IN 1987.

I THINK IT WAS VERY MUCH A

FINANCIAL CRASH AS OPPOSED TO A

BIG ECONOMIC SHOCK LIKE THE ONE

WE HAD NOW.

AND SO IT -- IT REQUIRED MUCH

LESS IN TERMS OF DEALING WITH

HOUSEHOLD FINANCE AND ADDRESSING

THE FUNDAMENTAL ECONOMIC ISSUES.

THERE WAS REALLY A QUESTION IN

EVERYBODY'S MIND, WHAT CAUGHT

THE SUDDEN DECLINE AND SOME OF

IT ALSO PROBABLY HAD TO DO WITH

THE INTRODUCTION OF COMPUTER

TRADING IN THE CAPITAL MARKETS.

AND THE ABILITY TO SUDDENLY SELL

MILLIONS AND MILLIONS OF DOLLARS

OF STOCK AT THE PUSH OF A

BUTTON.

SO THAT'S -- THAT'S ONE OF THE

HYPOTHESES ABOUT WHAT CAUSED

THAT CRASH, AND THE SOLUTION TO

THAT IS MORE LIKELY TO BE

CONTROLLED THE WAY THAT

SECURITIES ARE TRADED AS OPPOSED

TO FROM THE BASIC MACRO ECONOMIC

STIMULUS THAT WE'RE TALKING

ABOUT NOW.

>> GENERALLY SPEAKING, LOOKING

BACK OVER THESE EVENTS IN THE

PAST, WHAT HAVE YOU FOUND THAT

HAVE BEEN THE -- THE INFLUENCES

ON THE PROBABILITY OF A

RECOVERY.

WHAT KIND OF FACTORS HAVE

ENTERED INTO THE PROBABILITY OF

RECOVERY.

>> MY FOCUS IS TYPICALLY ON THE

FINANCIAL MARKETS THEMSELVES.

AND WHAT WE KNOW THEY'RE NOT

DIVORCED FROM THE FUNDAMENTALS

OF THE ECONOMIES THAT THEY

OPERATE IN.

THE FINANCIAL MARKETS ARE MADE

OF PUTTING CAPITAL TO WORK IN

THE REAL ECONOMY, AND THEN ALSO

OF EXCHANGING THAT CAPITAL IN

MARKE

MARKETPLACES.

SO, YOU KNOW, THE RECOVERY AND

ASSET PRICES IS SOMETHING THAT

TYPICALLY HAPPENS BEFORE THE

RECOVERY IN THE ECONOMY ITSELF.

THOSE MARKETS ARE PLACES WHERE

PEOPLE SPECULATE ABOUT THE

FUTURE AND WHETHER OR NOT

DIVIDENDS ARE GOING TO BE PAID,

WHETHER OR NOT A COMPANY MIGHT

GO BANKRUPT IN THE FUTURE AND SO

FORM.

SO THEY'RE THE CANARIES IN THE

COAL MINE WHEN IT COMES TO BIG

FUNDAMENTAL ECONOMIC ISSUES.

>> LET ME ASK YOU LAST QUESTION

HERE, AND IT IS A LOOKING

FORWARD QUESTION, BUT WE ALWAYS

LOOK FORWARD BASED UPON WHAT HAS

HAPPENED IN THE PAST, HISTORY IS

OUR GREATEST TEACHER, AS YOU

KNOW.

LOOKING AT THE FUNDAMENTALS OF

THE ECONOMY PRIOR TO THE

PANDEMIC, AND LOOKING AT THE

VOLATILITY THAT YOU TALKED ABOUT

AND PUTTING SOME OF THIS INTO

HISTORICAL PERSPECTIVE FOR US,

WHAT CAN YOU SAY ABOUT THE

PROSPECTS FOR RECOVERY, ASSUMING

AT SOME POINT AND HOPEFULLY

SOONER RATHER THAN LATER WE'RE

ABLE TO GET THIS PANDEMIC UNDER

CONTROL.

WHAT DO YOU THINK THE PROSPECTS

OF RECOVERY FOR THE WORLD

FINANCIAL MARKETS LOOKS LIKE.

>> I THINK THE PROSPECTS FOR THE

FINANCIAL MARKETS ARE VERY GOOD.

THE -- AS LONG AS WE CAN KEEP

THE BASIC INFRASTRUCTURE OF THE

MARKETS AND THE HOUSEHOLD

ECONOMICS FROM -- FROM HITTING A

WALL, BUT THIS -- WE'RE IN A

PERIOD WHERE WE NEED TO MAINTAIN

THE EXISTING STRUCTURES FOR THE

FINANCIAL SYSTEM, SO THEY'LL BE

THERE WHEN WE NEED THEM WHEN THE

ECONOMY ITSELF BEGINS TO

RECOVER.

I THINK THE ECONOMY ITSELF, THE

WORLD ECONOMY, I THINK, WAS IN

PRETTY GOOD SHAPE.

ALTHOUGH ONE COULD ALWAYS

COMPLAIN ABOUT ONE THING OR THE

OTHER, IN TRADE WAR AND WHAT

HAVE YOU, OVER THE LAST SEVERAL

DECADES, THE ECONOMIES AROUND

THE GLOBE HAVE BEEN IMPROVE ING

AND THEY HAVE BEEN DOING THEIR

JOBS FOR INCREASING NUMBER OF

PEOPLE AND I THINK THAT WE'LL

GET THAT ON THAT TRACK AND WE

WILL CERTAINLY HAVE LEARNED A

LESSON ABOUT HOW TO DEAL WITH

SUDDEN HEALTH SHOCKS LIKE WE'RE

DEALING WITH NOW.

THAT MAY REQUIRE A FUNDAMENTAL

CHANGE IN SOME OF OUR

INFRASTRUCTURE.

>> WELL, PROFESSOR WILLIAM

GOETZMANN FROM THE YALE SCHOOL

OF MANAGEMENT, THANK YOU.

THIS HAS BEEN VERY HELPFUL I

THINK CERTAINLY FOR OUR VIEWERS

TO GET THIS HISTORICAL

PERSPECTIVE BECAUSE AS WE SAY WE

CAN NEVER KNOW HOW WE MOVE

FORWARD WITHOUT KNOWING FIRST

WHAT WE HAVE EXPERIENCED IN THE

PAST.

SO THIS HAS BEEN VERY HELPFUL.

I HOPE WE CAN GET A CHANCE TO

CHAT WITH YOU AGAIN DOWN THE

ROAD AS WE'RE CONTINUING TO LOOK

AT ALL OF THIS.

THANKS SO MUCH FOR JOINING US.

>> THANK YOU.

>>> HI, I'M JENNA FLANAGAN OF

"METROFOCUS."

FRESH AIR AND EXERCISE ARE KNOWN

TO NOT ONLY BE GOOD FOR THE

BODY, BUT ALSO FOR THE MIND AND

THE BRAIN AS WELL.

SO IT IS NOT SURPRISING THAT IN

TIMES OF STRESS, PEOPLE WOULD

SEEK OUT INVIGORATING OUTDOOR

ACTIVITY.

FOLLOWING GOVERNOR CUOMO'S

EXECUTIVE ORDER TO PUT NEW YORK

ON PAUSE, REQUIRING ALL

NONESSENTIAL WORKERS TO STAY

HOME AND INDIVIDUALS TO MAINTAIN

A SIX-FOOT DISTANCE, MANY, MANY

PEOPLE HEADED UP TO THE HIKING

TRAILS OF THE MOHONK PRESERVE IN

NEW YORK.

UNFORTUNATELY IT WAS TOO MANY

PEOPLE AND THE TRAILS WERE

QUICKLY CLOSED.

SO SWJOINING US NOW TO HELP US

UNDERSTAND WHY IT HAPPENED AND

WHY CLOSING THE TRAILS DOES NOT

HAVE TO MEAN BEING CLOSED TO

NATURE IS ELIZABETH LONG,

DIRECTOR OF CONSERVATION SCIENCE

AT THE MOHONK PRESERVE.

ELIZABETH, WELCOME TO

"METROFOCUS."

>> THANK YOU FOR HAVING ME.

>> JUST, SORT OF TO HELP PEOPLE

UNDERSTAND BECAUSE WE ARE NOT

ONLY SEEING THE CLOSING OF

MOHONK, BUT OTHER PARKS AS WELL.

WHY IN SUCH -- YOU GUYS HAVE

ACRES AND ACRES AND ACRES OF

LAND.

WHY IN SUCH A WIDE OPEN SPACE

WHERE THERE IS LOTS OF ROOM TO

DISTANCE DO THE TRAILS HAVE TO

BE CLOSED?

>> YEAH, IT WAS A REALLY

DIFFICULT DECISION AND WE WANTED

TO BE ABLE TO PROVIDE THIS

OPPORTUNITY FOR FOLKS TO GET

OUTSIDE AND GET OUT INTO NATURE

AT SUCH A STRESSFUL TIME.

WE DID TRY TO STAY OPEN AND WHAT

WE FOUND WAS THAT FOLKS WERE SO

EAGER TO COME OUT AND REALLY,

REALLY FEELING THE NEED TO GET

OUT INTO NATURE, IT WAS MAKING

THINGS JUST TOO CROWDED, NOT

ONLY IN OUR PARKING LOTS, BUT

ALSO ON THE TRAILS, THERE WAS A

TREMENDOUS, TREMENDOUS INFLUX OF

VISITORS ON TO THE TRAILS.

AND WE FOUND OUR STAFF COULDN'T

MANAGE IT SAFELY.

WE DIDN'T FEEL LIKE WE COULD

PROTECT OUR VISITOR, PROTECT OUR

STAFF AND ALSO KEEP THE LAND

SAFE.

THAT'S THE BIG PART OF IT IS

MAKING SURE THAT THE LAND ISN'T

GETTING LOVED TO DEATH.

>> OF COURSE, OF COURSE.

SO THEN WHEN -- UNFORTUNATELY

THE DECISION WAS MADE, WHAT WAS

THAT LIKE?

AGAIN, FOR PEOPLE WHO AT LEAST

LIVE AROUND THE MOHONK PRESERVE,

IT IS A PART OF LIFE IN THIS

PARTICULAR PART OF THE HUDSON

VALLEY AND ALSO TO TURN AWAY

VISITORS WHO WERE REALLY JUST

TRYING TO GET OUT OF WHAT MIGHT

HAVE BEEN CRAMPED SPACES THEY

WERE COMING FROM.

>> ABSOLUTELY.

AND FOR ME I ABSOLUTELY RELATE

TO THAT.

I'M A ROCK CLIMBER, A RUNNER,

CYCLIST.

I USE OUR TRAILS ALL THE TIME.

AND I FEEL FIRSTHAND HOW HARD

THIS IS.

AND WE'RE MAKING A LOT OF

SACRIFICES.

STAY AT HOME, SACRIFICES

REQUIRING BIG ADJUSTMENTS FOR

ALL OF US.

UNFORTUNATELY WE ARE SEEING THE

SAME SORTS OF DECISIONS HAPPEN

IN PLACES ALL AROUND THE

COUNTRY.

WE'RE SEEING OTHER PARKS

INCLUDING SOME OF OUR NATIONAL

PARKS AND OTHER HEAVILY VISITED

AREAS HAVING TO COME TO THE SAME

CONCLUSION.

I SEE EVERY DAY NEW PLACES THAT

HAVE JUST HAD TO MAKE THE SAME

CLOSURE ADJUSTMENTS.

SO WE'RE HOPING THAT PEOPLE CAN

STILL GET OUT INTO NATURE IN

OTHER WAYS, JUST BE A LITTLE

MORE CREATIVE, THE SAME WAY ALL

OF US ARE MANAGING WITH THIS NEW

CREATIVITY AND THESE NEW

RESTRICTIONS IN PLACE.

>> WELL, SPEAKING OF BEING MORE

CREATIVE AND USING SOME OF THE

NEW TECHNOLOGIES THAT WE HAVE,

MOHONK IS STILL RUNNING A LOT OF

YOUR PROGRAMS ARE ONLINE AND

THAT THERE ARE WAYS FOR PEOPLE

TO STILL ENGAGE WITH NATURE, BUT

FROM, AGAIN, A SOCIALLY DISTANT

PLACE AT HOME.

>> YES.

WE KNOW OUR FIRST PREFERENCE

FOR SO MANY FOLKS IS TO GET

OUTSIDE.

BUT WE'RE LUCKY WE HAVE OTHER

TECHNOLOGY AVAILABLE.

SO OUR EDUCATION STAFF HAS DONE

A TREMENDOUS JOB OF PUTTING

RESOURCES ONLINE, YOU CAN FIND

THIS ON OUR FACEBOOK PAGE AND

WEBSITE, UNDER NATURE NUGGETS.

SO EVERY DAY THEY HAVE A NEW

ACTIVITY THAT FAMILIES CAN DO,

YOU CAN DO IT AT HOME.

SOMETIMES DON'T NEED TO GO

OUTSIDE, YOU CAN LOOK OUT A

WINDOW OR USE THINGS YOU GOT IN

YOUR ENVIRONMENT.

AND OUR RESEARCH, MY TEAM OF

CONCENTRATION SCIENCE FOLKS ARE

STILL MANAGING TO GET OUT AND DO

SOME OF OUR HIGH PRIORITY

PROJECTS, WE HAVE REALLY

LONG-TERM DATA PROJECTS, SOME OF

WHICH GO BACK 125 YEARS THAT WE

WANT TO TRY TO CONTINUE

UNINTERRUPTED IF WE CAN.

BUT THERE IS A LOT OF WAYS THAT

FOLKS CAN STILL ENGAGE WITH

NATURE, THERE IS SOME GREAT

WEB-BASED RESEARCH LIKE

NATURALIST WHICH YOU CAN JUST

LOOK OUT YOUR WINDOW, TAKE A

PHOTO OF SOMETHING YOU SEE IN

NATURE, POST IT ON TO

INATURALIST, GET HELP WITH V

IDENTIFICATION OF THE SPECIES.

YOU CAN HELP OUR RESEARCH

PROJECT, YOU CAN GO TO A SITE

LIKE NOTES FROM NATURE AND

TRANSCRIBE LABELS FROM MUSEUM

SPECIMENS, WHICH IS A LOT OF FUN

AND AN INTERESTING WAY TO

VOLUNTEER JUST SITTING AT YOUR

COMPUTER AT HOME.

>> I'M SPEAKING WITH ELIZABETH

LONG, DIRECTOR OF CONSERVATION

SCIENCE AT THE MOHONK PRESERVE.

AND IN ADDITION TO WHAT YOU WERE

JUST TALKING ABOUT IN TERMS OF

IDENTIFYING DIFFERENT SPECIES

AND PLANTS, SOMETHING ELSE I

KNOW HAS BECOME A GREAT PASSION

FOR A LOT OF PEOPLE,

PARTICULARLY PEOPLE IN NEW YORK

CITY, IS BIRDING.

AND THAT IS SOMETHING THAT CAN

STILL BE ENGAGED WITH VIA SOME

OF THESE PROGRAMS YOU'RE TALKING

ABOUT.

>> ABSOLUTELY.

THE BIRDING COMMUNITY WAS ONE OF

THE FIRST TO REALLY EMBRACE THIS

COMMUNITY SCIENCE INITIATIVE AND

THERE IS A FANTASTIC PLATFORM

CALLED EBIRD, OUT OF THE CORNELL

LAB OF ORNITHOLOGY.

THE IDEAL WAY TO PARTICIPATE IS

TO HAVE AN EBIRD ACCOUNT, LOOK

AT BIRDS AND POST ON THEIR

WEBSITE.

YOU CAN ALSO EXPLORE THE DATA

THERE ON THE EBIRD.

YOU CAN LEARN ABOUT THE

DIFFERENT SPECIES THAT OTHER

FOLKS ARE SEEING.

AND THEY HAVE ANOTHER REALLY FUN

TOOL, FROM THE CORNELL LAB

CALLED THE MIGRATION FORECAST.

SO YOU CAN GO TO THE CORNELL

WEBSITE, AND YOU CAN FIND WHAT

BIRD MIGRATION IS DOING IN YOUR

AREA OR IN OTHER PARTS OF THE

COUNTRY.

SO WHEN THE WEATHER CONDITIONS

ARE RIGHT OR WHEN THE SEASON IS

JUST RIGHT FOR THE BIRDS TO

REALLY MOVE IN LARGE NUMBERS, IT

CAN HELP YOU KNOW WHAT TO EXPECT

OR WHAT MIGHT BE SHOWING UP AT

YOUR FEEDER OR IN YOUR

NEIGHBORHOOD AT ANY GIVEN TIME.

IT IS A LOT OF FUN TO LOOK AT.

>> ONE OF THE THINGS I WANT TO

ASK IS SOME -- SINCE THERE

AREN'T REALLY PEOPLE WHO ARE

VISITORS AT THE PRESERVE RIGHT

NOW, FIRST OF ALL, WHAT DOES

MAINTAINING THE TRAILS ENTAIL?

WHAT IS IT THAT THESE STAFF

WOULD BE DOING NOW ABSENCE OF

VISITORS TO MAKE SURE THAT

EVERYTHING REMAINS AS, YOU KNOW,

HIGH STANDARD AS THE QUALITY

THAT YOU GUYS EXPECT.

>> THAT IS A GREAT QUESTION AND

I THINK SOMETIMES FOLKS DON'T

UNDERSTAND ACTUALLY WHAT DOES GO

ON BEHIND THE SCENES TO KEEP

TRAILS SAFE AND KEEP THEM

ACCESSIBLE FOR THE PUBLIC DURING

IDEAL CIRCUMSTANCES.

SO WE DO HAVE A SKELETON CREW OF

FOLKS OUT OVER LAND WHO ARE

DOING THINGS LIKE CLEARING

CULVERTS.

WE HAVE SNOW MELTING OFF AND

LOTS OF RAIN HAPPENING NOW.

WE CAN GET A LOT OF RUN JF ON

T

ON OUR TRAILS AND KEEPING THE

CULVERTS CLEARED OUT HELPS KEEP

THE ROADS IN BETTER SHAPE AND

THE ROADS ACCESSIBLE WHEN WE ARE

ABLE TO COME BACK OUT.

CLEARING TREES, WE HAVE

WINDFALL, WE HAVE A LOT OF TREES

THAT ARE SUCCUMBING TO INVASIVE

PESTS LIKE ASH TREES ARE LOSING

OUT TO THE EMERALD ASH BORER.

SO WE'RE SEEING A LOT OF FALL.

SO CLEARING THE TREES FROM THE

TRAILS.

AND WE HAVE ROUTINE MAINTENANCE

THAT WOULD HAPPEN REGARDLESS,

LIKE MOWING OUR FIELDS, WHICH

MAY NOT SOUND CRITICAL FOR

VISITORS BUT IT IS CRITICAL FOR

WILDLIFE, IT HELPS TO PROVIDE

HABITAT FOR WILDLIFE, THESE ARE

THINGS THAT HAVE TO GO ON ALL

YEAR LONG.

WE HAVE TO MAKE SURE TO KEEP

MAINTAINING AS BEST WE CAN.

WE HAVE CUT BACK TO JUST THE

ESSENTIAL SKELETON CREW.

BUT WE ARE TRYING TO KEEP

EVERYTHING GOING SMOOTHLY SO

THAT WHEN WE ARE ABLE TO HAVE

FOLKS COME BACK OUT, EVERYTHING

WILL BE GREAT, NATURE WILL BE

HEALTHY AND EVERYTHING WILL BE

SAFE FOR FOLKS TO COME OUT AND

ENJOY.

>> I'M SO GLAD YOU MENTIONED THE

WILDLIFE PART OF THIS.

NOW HOPEFULLY THE SOCIAL

DISTANCING AND THE CLOSING OF

THE TRAILS WILL ONLY BE A

TEMPORARY THING FOR US AND WE

CAN GIVE BACK OUT INTO NATURE AS

SOON AS POSSIBLE.

BUT I'M WONDERING IF THERE IS

ALSO ANY PLANS TO BE TRACKING

HOW THE WILE LIFE SORT OF

RECLAIMS THE LAND SANS HUMAN

INTERVENTION.

>> IT IS AN INTERESTING QUESTION

AND IT IS REWARDING TO LOOK OUT

THE WINDOW AND SEE NATURE GOING

ON AS USUAL.

I STEPPED OUT INTO MY YARD

YESTERDAY AND HEARD EASTERN SEA

BEES THAT CAME IN FOR THEIR

MIGR

MIGRATION.

THE WORLD STILL GOES ON.

THE BIRDS DON'T HAVE ANY IDEA WE

SEQUESTERED OURSELVES.

THERE ARE SPECIES THAT MAY

BENEFIT FROM HAVING A REDUCED

HUMAN PRESENCE AROUND.

ONE NOTABLE EXAMPLE IS PEREGRINE

FALCONS WHICH NEST ON THE

CLIFFS.

WE HAVE THREE DIFFERENT PAIRS AT

THE PRESERVE.

AND NORMALLY WE HAVE TO BE

REALLY PROACTIVE ABOUT TRYING TO

MAKE SURE THE CLIMBING COMMUNITY

AND THE NESTING PEREGRINES ARE

NOT IN CONFLICT WITH EACH OTHER.

BUT NOW THAT THERE IS NOT

CLIMBING HAPPENING, THE BIRDS

HAVE THE PLACE TO THEMSELVES AND

IT WILL BE INTERESTING TO SEE IF

THAT HAS ANY INFLUENCE ON THEIR

SUCCESS.

AND LIKEWISE THINGS LIKE MAI

DP

MIGRATING SALAMANDER OZ OR FROGS

THAT COME OUT THIS TIME OF YEAR

TO BREED ARE NOT HAVING TO

CONTEND WITH AS MUCH TRAFFIC,

NOT ONLY ON THE ROADS, BUT ALSO

FOOT TRAFFIC OR PEOPLE WHO ARE

REALLY INTERESTED TO MAYBE A GET

A LOOK AT THEM AND DON'T KNOW IT

WOULD BE BETTER TO GIVE THEM A

LITTLE BIT OF SPACE.

>> OF COURSE.

NOW, FOR, AGAIN, SO MANY PEOPLE,

PARTICULARLY IN THE METROPOLITAN

AREA, REALLY ARE PROBABLY GOING

TO BE ITCHING TO GET BACK OUT

INTO NATURE.

BUT AS WE SLOWLY BEGIN TO COME

BACK OUT AGAIN, IS IT IMPORTANT

TO REMEMBER THAT IT IS NOT JUST

US WHO WILL BE OUT IN THE EARLY

MONTHS OF SPRING AND OF COURSE

SUMMER AND THE HUDSON VALLEY WE

DO HAVE AN ISSUE WITH TICKS.

AND, YEAH, NOT TO FORGET THE

TICK SEASON IS STILL HAPPENING.

AND IS THAT SOMETHING THAT

PEOPLE SHOULD ALSO KEEP IN MIND

WHEN THEY EVENTUALLY DO GET TO

GET BACK OUT INTO NATURE?

>> ALWAYS.

TICKS ARE ALWAYS ON THE FRONT OF

OUR MINDS.

WE'RE ALREADY SEEING TICKS,

BELIEVE IT OR NOT.

IT DOESN'T TAKE THAT MUCH HEAT

TO GET THEM TO WAKE UP AND START

BEING ACTIVE AGAIN.

SO OUR STAFF ARE ALREADY TAKING

OUR TICK PRECAUTIONS AND

CHECKING OURSELVES REGULARLY

WHEN WE DO HAVE TO GET OUT ON

THE LAND AND WE PERFORM OUR

MAINTENANCE AND ROUTINE TASKS.

SO IT IS GOING TO BE REALLY HARD

TO RESIST THE TEMPTATION TO JUST

GO RUN AMOK, BUT I SUSPECT BY

THE TIME FOLKS ARE READY TO GET

BACK OUT ON THE LAND THERE WILL

BE POISON IVY AT PLAY AND ALL

THOSE THINGS ARE STILL THERE.

THEY HAVEN'T SLOWED DOWN AT ALL.

AND WE GOT TO STILL TAKE THE

SAME PRECAUTIONS AS WE WOULD

ANYWAY.

>> ALL RIGHT.

I'VE BEEN SPEAKING WITH

ELIZABETH LONG, DIRECTOR OF

CONSERVATION SCIENCE AT THE

MOHONK PRESERVE IN NEW YORK.

I WANT TO THANK YOU SO MUCH FOR

TAKING THE TIME TO JOIN ME, TO

NOT ONLY EXPLAIN WHY CLOSING OUR

BELOVED HIKING TRAILS WAS

NECESSARY, BUT ALSO THAT THERE

ARE OTHER OUTLETS FOR PEOPLE TO

STILL ENJOY NATURE, EVEN IF YOU

FEEL SO FAR REMOVED AWAY FROM IT

RIGHT NOW.

>> THANK YOU SO MUCH.

I KNOW WE ALL LOOK FORWARD TO

GETTING BACK OUTSIDE AND

ENJOYING OUR NATURE, BUT I HOPE

WE CAN DO WHAT WE CAN DO TO MAKE

OURSELVES HAPPY INSIDE AS MUCH

AS WE CAN.

>> ALL RIGHT.

THANK YOU SO MUCH FOR JOINING

ME, ELIZABETH.

>> THANK YOU.

>>> FOR THE LATEST NEWS ON THE

CORONAVIRUS PANDEMIC AND YOUR

COMMUNITY, VISIT US AT

METROFOCUS.ORG, FACEBOOK AND

TWITTER.

GOOD NIGHT AND STAY SAFE.

>> "METROFOCUS" IS MADE POSSIBLE

BY

JAMES AND MERRYL TISCH,

SUE AND EDGAR WACHENHEIM III,

THE SYLVIA A. AND SIMON B. POYTA

PROGRAMING ENDOWMENT TO FIGHT

ANTI-SEMITISM.

BERNARD AND IRENE SCHWARTZ,

ROSALIND P. WALTER,

BARBARA HOPE ZUCKERBERG,

AND BY --


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