Foreign relations. He talked about foreign policy, National Security, the Mueller Report, and ongoing threats from russia in china. This is just over an hour. Good morning. Welcome to the council on Foreign Relations meeting. I am the Russian Bureau chief. A reminder, todays meeting is on the record. Ourt, a little bit about guest. He has represented the Congressional District in california 2001. 2001 which represents much of los angeles, hollywood and pasadena. He has served as chairman of the House Permanent Select Committee intelligence. Before joining congress, he was a member of the California Legislature for six years, and also served as an assistant u. S. Attorney. Welcome, congressman schiff. There is a lot going on in the world and a lot going on with the Intelligence Committee. I thought i would give you a few minutes before we start to offer your thoughts on the state of the world. [laughter] rep. Schiff ok. The state of the world is in perfect harmony. [laughter] things are
Pasadena. He has served as chairman of the House Permanent Select Committee intelligence. Before joining congress, he was a member of the California Legislature for six years, and also served as an assistant u. S. Attorney. Welcome, congressman schiff. There is a lot going on in the world and a lot going on with the Intelligence Committee. I thought i would give you a few minutes before we start to offer your thoughts on the state of the world. [laughter] rep. Schiff ok. The state of the world is in perfect harmony. [laughter] things are pretty good and there is really nothing much to talk about today. Mr. Feist all right. That wraps us up. [laughter] rep. Schiff we were talking backstage about what i might start out with for a few comments. So let me start by telling you about a hearing will have next week on the subject of deep fakes. It is a Fairly New Technology that allows you to create very realistic audio or video that is almost indistinguishable from the real, but that is compl
Neil thank you, message from wall street to President Biden we are not impressed because of the white house was hoping investors would be wowed by the fiscal discipline that is boasted about the latest federal budget and best teachers have a funny way of showing their amazement, not amazed not wowed and not surprised the white house is bragging about supposedly reducing deficits by 3 trillion over the next ten years tells you all you need to know it leaves out the fine point that deficits will stop average 1. 7 trillion a year over the next ten years, that does not mean 3 trillion that means over the next decade, are you sitting down, its more comfortable, more than 15 trillion in more debt, what theyre bragging about it couldve been 18 trillion and more debt, that is like me saying after gaining 30 pounds over the next ten years it couldve been worse i could again 40 pounds by this rationale im down 10 pounds, no im not im still up 30 pounds, fat chance wall street would be impressed
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
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