There. Then we have Climate Change, oh, it will be front and center later today, alexandria ocasiocortez and Bernie Sanders will introduce a resolution declaring a Climate Emergency, they demand a large scale mobilization to restore the climate for future generations. No details yet and we dont know how different this will be from the original Green New Deal, but its sure to be a radical plan which will move the democrats even further to the left, and it will put Climate Policy right into the debates and the 2020 election. Its really great to be back. My thanks to david and ashley, really its great to be back. David and ashley and all my colleagues for their hard work while i was away. Weve got a big show for you this tuesday. Varney company is about to begin. A line drive off the top of the wall. There it is fires the bat up, and hes your home run derby champion of 2019. Stuart new york mets rookie won the home run derby last night and he hit 57 home runs, with 23 coming in the final
Halfway through the first volume of the landmark history of the Federal Reserve. Not only having worked at the Federal Reserve, but having had lunch many, many times talking about his history, i have followed closely over time the massive transformations that has occurred at the fed, just since the financial crisis but over my lifetime. And before, and to think that the first 10 years of my life we were on the Gold Standard, you know, it suggests that things have changed a lot. And so when a friend at the wall street journal called up to ask if i would review a new book by a university of pennsylvania professor named peter contibrown called that are independent of the Federal Reserve, i jumped at the chance because of two things. One, i really do love that they. I think it had a big positive impact on my professional life at its a very important place in washington filled with people who want to do the right thing. They sometimes fail but i love the spirit of the food. The second thing
Voting booth is the way republicans are talking about it. They are talking about the failure of the leadership and a list of examples. They are not railing on ukraine, but saying there is a narrative they are trying to build about them being a failure and they can use this as a check mark. Can i offer a slightly contrarian view . One of the surprising things about the ukraine and russia situation is the extend to which they have not headed for the exits. Putin very cleverly created a golden opportunity for them to do that. The nato meeting was happening and he creates a ceasefire. The terms of which he dictates himself. He claims she not involved in the conflict. Nevertheless he said heres a ceasefire that works this way and this way. Just as everyone is gathering. They dont do what i expected him to do is say a ceasefire. Lets back off. They went the next step. Maybe its not enough and as much as it should have been, but we have very little economic skin in the game. But they did. I t
Mandarin. The one place where that is not an issue is the senate. It might show up. Even in the energy in colorado is in the 7, 8, 9 contested senate races down to the wire. We will see them raise the spector of National Security and or Civil Liberties in the last couple of weeks before the election. Before we throw it open to questions, we have the small matter of iran. What happens then . Up to and including the lame duck is anybodys guess. Lets say we have a deal. There will be a push by the administration most likely to reduce the sanctions we have on them over the Nuclear Program and other nepharious activities. That will be pushed into next year. You might see an immediate lame duck push. The president promised no deal. We are going sanction them. Thats what he said. What the president wants next year in the event that there is a deal gets harder. Nobody wants to be seen as the people who used up. Thats not a popular position. It is much less popular with republicans. Some of the
Its been. To talk about swings, talk about crude oil, talk about the ruble which after that surprise decision by the Russian Central Bank yesterday to raise to 17 , the ruble immediately jumped up 10 and then fell back by about 8 and a 20 percentage point swing here. If you just looked today and didnt know what happened this morning you might think its an expected reaction and hide a lot of volatility we have seen, again, in global asset glasses here. Whiplash is only term some people are using to describe it. Yeah. No doubt. In the major averages right now, where we stand on the street. Theres the s p 500. A fractional mover. Thats sort of again helps to tell the story. Again, back under 2,000. The nasdaq under pressure today to the tune of 17 points and this ones interesting because some of the decliners on the session of note include tesla back below 200 mark off 2 . Amazon off 3 and meanwhile, the Dow Jones Industrial average seeing a gain of 40 points t trying to hold on here and