Pashakokis, both cnbc contributors. I start with jared bernstein. Good to see you. Hello, michelle. Yesterday, president obama touts this change by treasuries as a great thing, citing understandably one of the great things about america is its rule of law, but apparently missing the irony that by changing the rules in the middle of the game he has undermined the rule of law. How on earth can this be justified . Laws change all the time when there is a problem. I think the government this is not a law. This is just a regulatory change that has gone around congress. These are new rules on the books that have to be followed. If people dont follow it, they will be in violation and there will be actions. I think the important point here is that there are two very significant problems afoot. One is tax avoidance by industries who just moved their tax mailbox, not the operations, over to foreign markets in order to avoid the tax bill, and the other is a group of a small group of advisers who
S p was down almost 5 . Five days down after hitting alltime highs last week. Bob pisani, where will we see green again . Hopefully soon. Shinzo abe was talking about everything was up since he came to office. Lets take a look at full screen. Some call it fiscal fear fatigue. Volume on the light side as a lot of people deciding to wait things out here. Big caps down but the small cap, russell 2000 hit an historic intraday high. Tenyear treasury yield down. Take a look at walmart, bloomberg had a story out in the middle of the day that they were cutting orders to suppliers because of rising inventories. Our Courtney Reagan talked to walmart and said story was misleading. Stock came back a bit. Some retailers, consumer names in the Dow Jones Industrial average moved down on that, including nike, p g and home depot. Alcatel, a story on reuters, you see that pop up there. Thank you so much. As you can see, i have the stylish new google glass glasses. Very cool to be looking in one eye at c
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