now, i almost want to make a selfie of it every day because of my lifetime. so it is going to move one way or the other. you and i have talked about the gravity of policies. trish: here s what happens if policies don t get passed. this is what i call an hourglass economy. an hourglass. he got the top up here. they have benefited in writing stock prices, they benefited from inflation part of the bottom down here, they have benefited from an increase in program. it s the middle. the middle class that is feeling the squeeze and they need help. harris: $1.5 trillion will add to the federal deficit over the next ten years. juan: that s a problem for republicans. harris: republicans say they have the vote. trish: former president obama back on the campaign trail. he is saying our democracy is at stake. and people should reject the politics of division and fear. whether this will serve democrats well or is it time for a better message.
they re one in a insurance problem or one accident away from no save savings at all. people in the hurricane harvey area couldn t get out. some don t have money for one night in a hotel with their family let alone long-term displacement. we talk about stagnant wages. pay checks don t follow suit with eupblg nation and costs. there is core cpi. energy and food costs are stripped out. don t strip that out that s what people pay for. that goes up. with the hun cane we see energy prices did up. food and housing price goes up. people can t keep up with it all. i talk about the hourglass economy. this is what we have. the have and have nots.
mohammed ceo of pimco and alexis glick has experience working on wall street and covering it and the ceo of the gen youth foundation. diane, start with you, bottom line, are there lessons from 2008 that can be applied today to avert another global financial crisis? well, we re already seeing them applied. the fact that central bankers are not really talking to each other before the financial crisis actually emerged in august of 2007 or july of 2007 was a major detriment to them dealing with it know and it became a shock in august of 2007 and they really didn t have the communication going. they ve. been planning different scenarios. the problem is they have fewer tools but the coordinated move this week shows that they actually are trying to learn from the lessons to continue to provide liquidity in a place where it has completely dried up in europe. alexis, does it show it is the central banks trying to speak with one voice, not the politicians? it looks like they re t
2008. central banks are taking coordinated actions to avoid a ledge mat threat of a credit freeze the likes of which we haven t seen since after the days of lehman s collapse in 2008. we all remember what happened then. the credit freeze closed businesses, factories, wipes out millions of jobs around the world. diane, let me start with you. bottom line, are there lessons from 2008 that can be applied today to avert another global financial crisis? well, we re already seeing them applied. the fact that central bankers are not really talking to each other before the financial crisis actually emerged in august of 2007 or july of 2007 was a major detriment to them dealing with it know and it became a shock in august of 2007 and they really didn t have the kpl communication going. they ve got fewer tools today than they once did but i think the coordinated move this week shows that they actually are trying to learn from the lessons to continue to provide liquidity in a place whe