katty kay said earlier, has 2% inflation over 10% inflation, an energy crisis, the possibility of blackouts, 1970-style blackouts coming this winter, and strikes looming on the horizon. things are dark, indeed, for whomever replaces liz truss. she was sort of the ultimate simplistic free marketeer. she felt whatever the circumstances, the tax cuts the solution. of course that s what the markets reacted to. so in a way the ultimate free marketeer was defeated by the free markets. you can t afford this, the timing is offer. the british political system and british people won t accept this in a time of growth. she couldn t defeat the markets. so, whoever comes after her is going to have to first and foremost adhere to james carville s saying, if i died and came back and were recree itted, it would be as the bond markets. but, you know, if you judge britain as a balance sheet, as an economy, as a society, it s actually it looks fine. these are all unforced errors. these are
yesterday s scathing report on inflation as well. dana: that number coming in much hotter than predicted. data suggesting the president s inflation problem is here to stay. the markets reacted accordingly. bill: the dow plunged almost 1300 points, the worst day since nearly the height of the pandemic in june of 2020. the sell-off fueling predictions of an even larger federal rate increase. dana: the rate hikes designed to drive down the inflation hurting your wallet. americans are paying more for everything this year, food is up more than 11%, that s the largest increase in 43 years. bill: wages are rising but can t keep up with inflation. that s leading to a 3% pay cut across the board. dana: despite all of that, president biden chose yesterday, of all days, to celebrate the so-called inflation reduction act. democrats touted the benefits of the $430 billion bill while brushing off the bloodbath on wall street. the stock market doesn t reflect the state of the ec
hurricane fiona continues its dangerous march forth as it churns past bermuda. right behind fiona is a storm that could become a major concern next week. we ve got an update on all of that for you ahead. and the pressure on former president trump is mounting on multiple fronts. now the special master, who trump himself requested to review material seized from mar-a-lago is again putting his legal team on the spot giving the trump team until next friday to back up trump s name the fbi planted evidence during search of his private estate last month. we begin this hour with the growing backlash to russia s first draft since world war ii. joining me now, jay gray from kyiv, ukraine, also former u.s. ambassador to ukraine william taylor. he s vice president of russia and europe at the u.s. institute of peace. welcome all of you. jay, to you first. we ve seeing these emotional images from russia. families are parting, they re drafting men, boarding buses, heading to face a war an
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