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right. if you look at interest rates, on the open market, two-year rates, 30 year government paper, which by the way is about equal to the fed fund rate, the rates have come down while the fed is hiking on the notes with respect to september. that tells you the fed has it wrong. what we have to be careful of, folks, if we get this rate cut next week and that s it? because data has started to look better again or do they keep on the rate cutting path that the market expects them to be on. one thing about this, the stock market rise, which has been gigantic, we re now up 50% since trump was elected and we ve had a nice run on the market in recent weeks, there s a wealth effect. one of the things about spending, we were disappointed in the business spending, neil. we want businesses to be can tall investing. this is all consumer driven. yeah, it is. what you re getting is the wealth effect of people feel richner the pocketbook and spending. that s a good thing.
there was two weeks ago. donald trump says isis is defeated. everyone is coming home. john bolton in turkey says not so fast. it will be done in coordination with the u.s. military and withdrawal of the u.s. forces. the turkish president flipped out. he said, quote, this is something he cannot swallow. he told the media perhaps there was an invasion on its way into northern syria from turkey. of course, this is about the kurds. the kurds the major u.s. ally in the fight in syria, something that turkey would love to get involved in. interesting enough, guys irks want to reich a quote from the pro government paper. this is turkey s quote on it. they said this was a boldened soft coup against donald trump it was a bad idea for bolton to go and try to impose this on donald trump so turkey taking it out on john bolton at least for now giving president trump a pass. wow. literally taking the responsibility away from the
will basically be a week until next month. that is post referendum but it s we have seen cases like cyprus it has taken much longer. cyrus it was almost two years also and this is a government paper. it reads no. it s calling on people to take to the streets tonight, at 7:30 to say no to the proposal by the government for a referendum. i had an opportunity to gauge the mood of the referendum. take a listen to what some had to say. among antique vases, porcelain statues and paintings of old, tourists bargain for a piece of the greek past. it s a flea market full of history with tales to match it. this man has been selling his wares here for over 50 years and never thought it would get to this. i have never seen a situation like this he says not even
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