First a few administrative matters. We have gotten advice from the sergeant at arms, the health and Human Services centers for disease control, individuals in the hearing room will he at least 6 feet apart. There is no room for the public and therefore but this is all streaming and therell be an unedited version of it that anyone can watch later. Witnesses are participating by videoconference today and some senators are as well. I like to Say Something about mask. The office of attending physician has said since we are 6 feet apart we dont need to wear masks although some may. Thats why my mask is off. Although i have one and i wear it outside because as dr. Redfield reminded us yesterday its extremely important tool for stopping the spread of covid. Im grateful to the rules committee, sergeant at arms the press gallery and the Capitol Police and chung check in the Evan Griffith r. Staff, all their hard work in helping to keep us safe in helping us do these conferences by video with wh
Decide what kind we are dealing with i wish we could say we always know how to respond but the early days of the decline, well, theyre never easy to navigate first, lets borrow a line from the fabulous Anna Karenina all happy rallies are alike. Each sell off is unhappy in its own way. Its so true bull market sent stocks higher and everyone thinks theyre a genius for participating in them big declines much harder they would be the start of a bear market or a glinch. Thats why i want to use history to try to identify some of the common qualities so you can figure out how to handle the inevitable moments of weakness without panicking. First let me offer some historically constructive words of relief, sanity and real, not phony, but real assurance. Theres only been two truly horrendous sell offs since i started investing in 1979. The one day crash of 1987 and the rolling crash of 20072009 i could have down the nasdaq crash but the s p held up well lets deal with these two big ones head on
And ready. I wish i could say that we always know how to respond, but the early days of the decline, well, they are never easy to navigate first, lets borrow a line from the fabulous all happy rallies are alike. Each sell off is happy in its own way. Bull markets send it off higher and most think they are genius for participating. It seems easy. Big declines, much harder because they could be the start of a bear market they could be just the beginning of something unfathomable or might be a glitch. Thats why i want to use history to try to identify some of the common qualities so that you can figure out how to handle these ind moments of weakness without panicking. Let me offer words of relief, sanity and real, not fee knn pht real assurances. There are two truly horn rrendo sell offs, the crash of 1987 and the rolling crash of 2007 to 2009 i could have done the nasdaq crash but the s p held up well lets deal with these two big ones, though, head on. Because these two declines are grea
trying to redefine recession? we are not redefining recession. greg: president biden s prediction there being no recession lasting about as long as kamala s doomed presidential campaign. democrats are pushing more massive spending for some reason, to get us out of it. biden is brushing off the bad economic news while claiming dishing out $700 billion for things like fighting climate change and that will actually lower inflation. chairman powell and many of the significant banking personnel and economists say we are not in a recession. we created 9 million new jobs so far as i ve become president. businesses are investing in america and record rates. the inflation reduction act will add another $370 billion in clean energy tax credits and reconciliation. that doesn t sound like a recession to me. greg: now that biden s prediction has flopped, democrats and the media are getting on the same page to try to convince americans things aren t that bad. we have to remember
Capitalize on immigration capitalism. If they stay in america she may have goodpaying construction jobs buildinged the wall. Nancy pelosi says she and chuck and the president agreed dreamers could stay and the wall could suck it. It sent president trumps conservative base into apoplexy. Ann coulter tweeted at this point who doesnt want trump impeached. Maybe the dreamers will want him once he has been cast aside by y by border hawks. It would be a 280 billion economic hit taking thats able bodies out of the workforce. You can get your wall. Back off daca. Any token momentum on immigration can be used as a goodwill chip for tax reform where it really matters. There is a lot in common between daca and taxes. A vast majority of americans want lower taxes. Perhaps the president be calm hothead and get both done. I wouldnt trust nancy pelosi as far as i could throw her. But i wouldnt mind seeing her catapulted back into her crib. So the president says the deal on dreamers is close. This mor