Matt innovation is one of the least understood. Is the reason most people say, live in prosperity and wisdom. In the main ingredient in the secret sauce in these innovations is freedom. Freedom to exchange experiment in imagine invest in fail. Liberals have argued that from the 18th century that freedom means prosperity but i would argue if never found the neck mechanism to drive change in which one causes the other pretty innovation is that drug chain, the missing link. Innovation is a child of freedom and the parent of prosperity. Matt, you think you have written a contrarian book in 2020. There seems to be a growing belief. Living standards have been stagnant for decades, both only helps the elites rated and innovation comes from smart planners implementing industrial policy carefully chosen sectors. Matt this is a contrarian book. It is because i said that innovation is the product of free people exchanging ideas freely. And yes we are experiencing innovation although, i do argue f
And we begin with one of the wildest days on wall street in years. The Dow Jones Industrial average plummeted nearly 1100 points minutes after the opening bell sounded this morning. Stocks managed to recover some of take losses, but at closing bell the dow was still down 500 points. Financial markets have lost trillions in value over the last few days. The euro first index lost more than 521 billion. The Australian Security Exchange lost 60 billion of value. And it is estated that s p 500 companies lost about 685 billion in value today. Mary snow spent the day on the Trading Floor on wall street. Mary, how do you explain what happened today . Thats the one question everyone was trying to explain, and theres no one simple answer, but there was one overriding theme, and that was fear and uncertainty. And to get a sense of just the wild ride you were just talking about, take a look at this oneday chart on the dow. It was the singlebiggest point drop in the market ever. The market did reco
The dow was down about 135 points at the lows of the session. Before ending the day higher by 55 investors initially piled into risk off trade gold at its highest level in a year, but that turned negative the dollar getting crushed earlier, hitting two and a half year lows before gaining back all the lost ground then some. The vix which was up as much as 17 today ended up not even 4 higher, so, is this the market that you cant sell . And theyre in a risk to the market what is . Obviously, you cant at a certain point, but we had this conversation, the news about missile broke about 20 minutes into the show night. We had an interesting conversation, but one of the take aways was it wasnt the actually Missile Launch in our opinion that was going to be the side effect for the market it was whatever the response was going to be. Quite frankly, we havent seen a response, so i think we try to keep cool heads last night turned out to be the right advice the vix, that tells you all you need to
Should start now. Also in the next hour, an entire city is evacuated in california as wildfires spread. At least 2a people have died in more than 20 separate blazes, which also destroyed homes and marijuana farms. Coming up at 8 45 p m. , meet the author. We talked to simon heffer about his new book. Good evening and welcome to bbc news. The European Union has warned the brexit negotiations have entered a state of very disturbing deadlock, with disagreement over the money the uk will owe when it departs the biggest cause of the impasse. The eus chief negotiator, Michel Barnier, said that as a result he cant recommend to eu leaders next week that trade talks begin. Brexit secretary david davis however talked of the significant progress that has been made. Our Political Editor Laura Kuenssbergs report contains flash photography. She wasnt there to help. Eu super girl and anti Brexit Campaigner had slinked her way in today. But listening to the eu chief negotiator, it will need a real sup
Good morning. We are here to consider the budget requests for the fiscal year 2018. This is the second of three hearings halloween the following the hearing last week. Back. Ary zinke, welcome gives nice to be able to you the official tally this morning, make it officially official. I want to start by noting you have taken on top tasks including challenges that have gone unaddressed for years. I think you are off to a good start. I have enjoyed working with you. Appreciated the opportunity to host you and some members here on the committee here and alaska a couple of weeks ago. We had meetings in anchorage, we were on the north slope looking at our considerable potential up there. We attended a memorial day. Eremony at fires lake it was an important and productive time. Our hearing coincides with a big milestone for alaska. Today is the 40th anniversary of first oil moving through our transalaska pipeline. Our 800day in 1977, milelong pipeline carried what is now more than 17 billion o