spending will go up this year to 2.3% of national income. and plenty members of nato don t make that target but prices are rising, inflation soaring and the government has acknowledged it will break a manifesto commitment to increase defence spending by more than inflation every year. and though some are worried that there is smoke and mirrors going on in terms of how the government is defending its defence budget. as the summit gets under way there will be a central question and whether members are spending enough to face up to the threat of russia the metropolitan police has been put in special measures by the watchdog by the watchdog russia her majesty s inspectorate of constabulary and fire and rescue services in the wake of a series of failures. we ll be speaking to our home affairs correspondent shortly. the mayor of london is also the police and crime commissioner for the met poliec. he agrees the met needs to improve.
new political urgency to the midterm elections on both sides, particularly democrats pushing forward the message that roe is on the ballot. many in the democratic party see the abortion issue as their best opportunity to energize their base voters and potentially hold onto more seats than they otherwise would. the anger of many over the court s decision turning to a call to action for some voters. we have to get organized and vote people out. opponents of abortion rights also energized and the challenge is to keep this issue front of mind as americans face big economic concerns with inflation soaring. anti-abortion voters from the
months? , ., ., ., ., ~ months? they are going to make a oint months? they are going to make a joint speech. months? they are going to make a joint speech, the months? they are going to make a joint speech, the prime months? they are going to make a joint speech, the prime minister. months? they are going to make a i joint speech, the prime minister and the chancellor next month setting out the economic strategy and apparently tax cuts are not going to be part of it. which seems risky. i mean, we have 70% of borisjohnson s backbenchers don t have confidence in him. you have redwall seats, some with a very slim majority, and this is obviously in the wake of the wakefield results last week and the bye election where there was nearly a 13% swing from the conservatives to labour, and as david davis was saying, constituents are going to be thinking about their inability to pay these soaring bills. inflation soaring. they are seen people striking, they are, you know, gas bills are ar
had a built-in limit in its supply, right? so with inflation soaring, this should have been crypto s moment to shine. why has it crashed now? this was only hyped by its advocates, so i don t think reasonable academics ever considered it to be a good hedge against inflation or for that matter against anything. so is it just that it s, even though it s supposed to be untethered from the main markets it s become more convergent? for the most part, it s not just about convergence. crypto was always some sort of ponzi scheme where people invested in pabecause they saw their friends getting rich and they thought money would fall from heaven , and if they put i some money that would come as well. to see this collapse, all the markets get rattled, all of them get worried.
it s amazing to see what you re doing. thank you so much for being with us to talk about it. thank you very much. thank you. stock futures down nearly 2%. the dow down nearly 2%. the s&p down more than 2% this morning. inching every closer to a bear market. that would be in bear market territory. this is with inflation soaring. here now financial analyst and founder of thread needle ventures, ann barry and christine romans. the futures look bleak. we re back to where we were about three weeks ago. in would be bear market territory for the s&p. the nasdaq has already been there. the nas down is down 27.5% this year. when you look at the broader market, the 401(k), it has unwound all the gains going back to march 2021. all of those gains of the last year plus have evaporated. what s happening here, it s called risk-off. investors are adjusting to a new