And secondarily, the future is made of swarms of small things. How do we get the pentagon to realize you want to buy 1000 toyotas instead of one lexus . They keep missing the boat on that and creating giant aircraft carriers. One torpedo takes out a huge amount of our capability. Thats crazy. Mac thornberry well, both good questions. Ive already forgot the first one. Oh, the two im sorry. This years defense bill will abolish the qdr. Too much time, effort for nothing. And part of our frustration is, that it becomes, became a budget justification document, not really a strategy document. And so, that really gets to what you are talking about. We have adjusted the two mc kind of approach just based on the budgets, rather than the other way around, rather than looking at the world, trying to see what, ok, what sizing construct makes sense for the world were facing, and then develop the budgets to support them. So we have provided a different system of kind of thinking about the world with
Talking about the Clinton Administration. So much for that. So, how are you . You have spent a few weeks kind of getting your mind around how you are going to approach Foreign Policy under the Trump Administration . Can you say a word about that . Ben cardin kristin, thank you for your public service. It was really wonderful to be here. You are right. It was a little bit of a surprise. When we accepted this invitation, we had outlined our comments about how the Clinton Administration would carry on from the Obama Administration. And now we are talking about the incoming Trump Administration. It is going to be different. There is no question. It is going to be different. Foreign policy institute, one of your goals, your goal is to rope us support for Democratic Institutions and human rights. Thats under attack today. Thats under attack. And the principle opponent is russia and what they are doing. I think there is going to be a great deal of concentration on russia. Russia is using its
Been investing heavily overseas and ultimately a lot more Chinese Companies will have to come out. If they are just selling within china are already very established brands in china. A lot of Chinese Brands had to buy talent market. So the internet may create a new base for them to develop. Thats been the case which uses scarcity mark eating and fan clubs to take on no ps and apple, even though they are lowerpriced point. Chinese are frustrated, name a chinese car. Volkswagen. The thoughtful about what they are keeping the volvo named. I know that you cant really create a global brand. One note though sounds vaguely italian, but they did actually buy the idea. So its not like the japanese way that they just buy stuff and hope it works out. There is some crazy things happening. Two weeks ago, almost they are developed the Waldorf Astoria Hotel that nobody seems to justify. Theres a lot of money sloshing around china. There is also a sense that they need to keep talent and keep brands. A
Separation of powers, the legislative power clause of the constitution giving Congress Power to make laws, the story behind that, why we didnt want a king, and how the system of government was set up, how we stood up and proposed we have a king and the Founding Fathers objected to this idea, soundly rejected it. Too much power in one person or group of people in the drift away from separation of powers is something incompatible not just with the constitution itself but stories behind it. Booktv wants to know what you are reading. Tweet of your answer at booktv or posted on our facebook change, facebook. Com booktv. [inaudible conversations] good evening, everyone. I direct Foreign Policy institute and im delighted to welcome you to this evenings Foreign Policy institute conversation with Michele Wucker, she produced an excellent book, the gray rhino how to recognize and act on the obvious dangers we ignore. It is wonderful to welcome michelle, i am grateful to her for putting the site
That is insane. Back to the selloff. Stocks tumbling into the close. All but two of the dow 30 into the read. Worst performers, home depot, microsoft, cocacola. Not the same story for energy. We have you covered on both fronts. With phil flynn price futures group. We will tell you close off worst levels of session, but were still down 182 points on the dow. Dow and s p are down four out of last five trading sessions. Nasdaq composite index for its part was down as well. Looks like a fiveweek, biggest drop in five weeks for the nasdaq. I believe for s p as well. There are the stats. Volume was 12 below average one month. Yesterdays rally, volume even weaker. Cant look for call on conviction. Tone was set first thing this morning with the Consumer Price index. Coming out showing fastest monthly increase in three years. Inflation perhaps. That is supportive of case of fed Interest Rate hike. That followed by a parade of fed speak today, with most fed officials voting and nonvoting essenti