More downgrades. This time not on the sovereign but u. S. Banks, 10 downgrades overnight. Tom there is a bank story in italy as well. That is the economic thing to look at. Overwhelming everything here this morning led by the news out of china is it is deflation tuesday. Im looking at the screen and i have not seen that screen in 4, 5, six years. Jonathan dreadful. Tom we were out in front of the story, there is deflation in the air. I can bore you with eight ways, all you have to do is say even oil breaks down. Jonathan every time i get data out of china, it is downside surprise. Lisa one interesting area, the divergence between the u. S. And china has been accelerating. What you have seen with respect to the u. S. Dependence on china is it is decreasing even though in europe it is not. I wonder how much those stories are linked. The underperformance of germany and the outperformance of the United States. Tom the banks have to deal with this disinflationary, deflation tendency. You go
This morns wing, we are see for the first time new evidence that may be used against donald trump in the Special Counsels 2020 case. The New York Times has obtained this memo that has previously been secret. It was written by lawyer kenneth chesebro. He was named by prosecutors, youll remember, as coconspirator number five in the indictment, not in the indictment against donald trump, all of the coconspirators so far, unindicted. The internal memo spells out in detail the plot to overturn the 2020 election with socalled Fake Electors and it also gives new insight into how the plot would unfold and what they really wanted to do as it was unfolding. Cnns Jessica Schneider is here with much more on this. Jess, lay out what new is learned in this memo. Yeah, kate. This memo dated december 6th. Its known to prosecutors. It will likely be a key part of this case and it really lays out that even the man outlining this Fake Electors plot, kenneth chesebro, he knew it was far fetched and knew i
Country seems to be fueling some kind of negative sentiment worldwide. Tom i agreed to start there for the western world. Its not just about china. There disinflation, we dont need a bunch of charts this early in the morning but the vector of deflation and disinflation in china from the beginning of covid and they did covid differently than we did but im sorry, its disinflationary and get you down to a run rate of a positive 1 even with the present deflation and thats not good enough. Jonathan at the same time, the western developed markets are finding inflation and we had deflation in china and people are asking, we are in it now so how long will it last . Lisa and is this the bottom . It could have a more inflationary time later on. How much does china matter as a disinflationary force for the rest of the world at a time were places like the u. S. Are moving away from importing some of their goods and the eu is trying to be more aggressive with lyft service. And we have budget defici
You were past your prime. Hell, i know something about that. President biden was cracking jokes with defending World Series Champions at the white house yesterday. That looked fun. We do have a lot to get to this morning. A very confused judge in fort pierce. Oh, my gosh. She was shocked, shocked that you could have two grand juries going on at the same time. Its not a good sign, actually. Whered she go to law school . Oh, boy, a lot of questions. Not a good sign. Well go through the flurry of legal filings last yesterday in the 2020 election case that has the judge summoning both sides to a washington, d. C. , courtroom. Different judge. This is a different judge, a different case. Plus, action around the Fulton County courthouse in atlanta. Different case. Sparking speculation that another indictment, another one, could be coming very soon for the former president. Also ahead, well explain how the fight for Abortion Rights in ohio could hang on what happens in todays special election
Weve had 13 shoplifting calls in the last year. Its a high traffic, very centralized area. They say the shoplifter is out of the hospital and in jail. He faces charges of robbery and assault with a deadly weapon. They say the Security Guard is still recovering from his injuries. You want to catch the but i dont know if you should just let him go or what you should do. You dont want to let him go without any punishment, but you dont want to get killed either. In april, worker at the Pleasanton Home Depot was shot and killed after trying to stop a robbery. A year before that, to distract workers while he stole tools. Home depot shoppers hope this latest event leads to change. Improve the loss where we help the people that need help. We need to work together. Kristen app sent out a push alert today about the shooting. Get news updates like this once into your mobile device by downloading the abc7 bay area news alert and enabling push apps. Larry heres video from sky 7 taken a short time a