Level as the controversy continues. President biden met with his Economic Team at the white house today, the administration has not yet said much on the controversy only saying talk to the sec and the feds are monitoring the situation. Strong backlash by some lawmakers including alexandria ocasiocortez and republican ted cruz. Republican senator josh hawley talked about this on fox news earlier. What youve seen with this gamestop meltdown that wall street is having now is these folks at home have got more criticism and more scrutiny than the people who singlehandedly crash the entire Financial Market in 2008. And they got bailed out, the government bailed out those people. It shows you that the fix is in. John White House Correspondent Kristin Fisher picks up reporting for us on this friday live on the north lawn. For the third day in a row, the white house is declining to weigh in on this controversy that has consumed both wall street and main street. The White House Press secretary w
Keep in mind, neil. The two sides were supposed to be, the timeline was supposed to be, they would meet, President Trump and president xi in apec 10 days time. We know apec was canceled. That kind of through everything into a scramble where these two could potentially meet. There are two different facets. The first off the terms as stuart talked about. Also the location. The location is an important piece of the puzzle, when you talk about this potentially shifting into december. There are logistical challenges now because of the cancellation of apec of trying to get these two world leaders, a, into the same place and then, b, trying to sort all of that out. When you talk about next week, the time frame of when they were supposed to be meeting, that is becoming, it is fair to say, less likely that these two leaders, President Trump and president xi, would be meeting together wherever. Pick any sort of point across the globe, whether here in the u. S. Or some point abroad. When you look
November 10th and 11th. That is thrown into the mix. Were told this is not part of the ongoing trade talks but put as wrinkle or maybe a hatchet in them. Blake burman at it whoo house with more on that. Markets are confused. So am i. What do you make of this port . I spoke with someone familiar with the matter. The way it is described there is a ongoing policy process, taking place, during the policy process one of the discussions the u. S. Might, it was stressed to me, might, limit investment flowing into china. A couple things were pointed out to me which you hit on, according to the source, this is a way essentially to protect u. S. Investment. As you know the u. S. Feels there are a host of issues, once you start dealing with china and and protections, companies there and making sure those companies are taken care of. Also it was put to me this is separate from the ongoing u. S. Trade discussions. Now about you believe that to be the case is another matter. We talked about the issu
Making money charles we came out of the gate strong but stocks hard to find their feeding when the white house is considering limiting chinese participation in stocks. Steve moore and heather zumarriaga. Steve moore, i think its a bad idea. I know some of these are flaky names on here but to reverse this right now, were talking about one trillion dollars worth of stocks on u. S. Exchanges. Yeah. I was caught by surprise. I didnt know this was coming, charles. I think everybody is a little bit surprised by it. I think what it signifies, i think the reason the market has reacted negatively that trump is tightening the screws here. Instead of getting a deescalation in the trade tensions, unfortunately looks like were seeing further escalation. My view, as soon as you get a trade deal the American Economy and stock market go through the roof. That is it what everybody is waiting for. This is meant to tighten the screws on beijing, get them to come back to the bargaining table to make a dea
The fake news of which many of you are members, is trying to convince the public to have a recession, lets have a recession, the United States is doindoe phenomenaly. Kennedy lets not have a recession. But those pesky reportedders are not only ones. We have such a strong economy, if the fed did what they are supposed to do, they would drop Interest Rates by a 1 basis points and maybe not tight know or loosening or leave it alone, do nothing, but they drop interests by a hundred basis points or more, nobody, nobody would be able to compete with the u. S. Nobody. But, not everyone believes the president. Mulvaney saying they could expect a moderate and short recession. He is acting chief of staff, not very good. And business economics 3 out of 4 economists believe that a recession will happen by 2021. Morgan stanley dean witter chase reports Jpmorgan Chase reports that trade war with china could cost each family. What is the deal with that . Should we keep spending like drunken sailors .