Regulation is 1. 9 trillion to 1. 9 trillion. These businesses pass on the cost of these regulations in the price of there products. Families are spending about 15,000 a year for businesses to comply with government regulation. I am sure that we can agree mr. Chair, the businesses need to be fairly regulated. But when those regulations are killing jobs that is just not right. Several years ago in aa highly partisan vote with very little republican support for 2300 page. Dot frank bill was passed and since then theyre have been mountains and mountains of regulations and rules designed to smother our Financial Services industry. One part of dodd frank is a great concern of mine the too big to fail regulation. Now, when f soc is trying to determine what bank and other nonfinancial institution should be designated too big to fail it means that the taxpayers we will have to step in and bail them out. We all no theyre is a huge difference. They handle their retirement the Retirement Savings
You know section 342 that created the office and part of the thing that we have struggled with is the whole reporting authority and the standards for reporting back what those federal regulation officers are doing. Do you have any insight on the program . I think it is important for countries to take a look at their own debt. And its time for us to look in the mirror and address our own problems, including the 18 trillion in debt that we have accumulated at this time. The Federal Reserve has employed and i will say exceptionally accommodated monastery Monetary Policy to spur Economic Growth, but we are now nearly seven years out with the federal funds rate still at the down. The quantitative easing have made it much easier and certainly has solve our longterm debt problem. And both you and your predecessor have argued that the fiscal reform is important over the long term. However, you also stated that the fiscal prudence can be ignored in the short term does not hamper the economic re
Lets get on your data check to see what we should be watching out for. Risk off mood. As the significant today dollar, traditionally a haven, is not the haven per se. And havens after the Missile Launch, gas and oil caning with energies bracing for another hit from Tropical Storm harvey. 108. 51, but gold, the outstanding winner in all of this. My euroo take you to chart. This for me is significant, it has hit 120, not only from a technical level, but it encapsulates a relatively united leadership in brussels and the chaotic things from washington, d. C. We have heard. This coupled with improving european fundamentals, so watch out for that. This is the euro. We brought it back to inception in 2000, currently at 120. 42. Its get to the first word news with nejra cehic. Hasa Tropical Storm harvey drifted into the gulf of mexico and is poised to strengthen before crashing ashore again on the texaslouisiana border. Some predictions already pushed putting the cost of the damage as high as
As they warn of a significant cost to the economy. Non League Sutton united face arsenal in the fifth round of the fa cup. Good morning. Welcome to bbc Newsroom Live. Dozens of local authorities in england are Planning Council tax rises of almost 5 , according to their umbrella body, the local Government Association. The money is needed to pay for the rising costs of social care, but the lga says that Many Councils will still be forced to make cuts to services as the extra money will not be enough. Heres our social Affairs Correspondent alison holt. This is social care in action. After several falls, Maureen Edwards is getting support in social care is immediate now. The funding for local government needs to be resolved immediately. The government says extra money is being put into social care and authorities will soon be able to keep all the money they raise from council tax and business rates. Alison holt, bbc news. We just heard a report from izzy secombe, chairman joining me from o
The 10 year treasury yield hit a record low. Its rallied a bit. Its given the dividend trade a big boost. Well break down how to avoid dividend traps and the wall street journal ken brown says why stocks could be riskier than they appear. Gold has been one of the hottest trades this year, as you no doubt know. The gold rally is just beginning. We found one of the few gold bears to lay out his case against the pressucious metals. We were scrambling i dont know who we found. Well find out coming up. Tesla ceo elon musk giving into a war of worlds over the time it took the automaker to report a accident involving a autopilot. I dont know how well get to this over the next two hours. Lets start with the global yield crush. Bill, another day, another record in terms of low yields all over the world. Theres so many jurisdictions all over the place that have these negative yields, these record low yields, we just want to point out a few of them. The notable ones to give you an idea, a sampler