For the new world . We love the canadians and rbc has been great. Intell me what is going on the u. S. Particularly with the stock market. We had this great run and everybody is concerned we are down about two percent year to date, which is really just noise. The real story is that corporate rockets are coming in really strongly during earnings season, the beats are coming in about 2. 5 , and it is all on the margin line, and that is a real surprise for people. I think it is actually a very bullish call or a list signal that profits are up. We have two Big Companies reporting, procter and gamble 121 versus 120, you had kimberlyclark coming up, they beat analysts estimates. But as he said, sales lower, profit higher, what do you think . Expansion of multiple that will lead this market higher . This year in a 2014 will be very different than last year. It is the earnings story that will come through. When a lot of who have been concerned about is the budget, they cannot go any higher, co
Institutes 40th monetary conference. Welcome back. I am going to be moderating our next panel, so thank you for joining us today. I am joined by mr. King, mr. Borio, who is the head of the bank for international settlements. Larry summers, the former treasury secretary and professor at harvard university. And tyler goodspeed, who is a fellow at the hoover institution. And it served at the cea in the trump administration. Our panel today is on what have we learned and you can submit questions for the audience that we will get to later on on catos webpage. You can send those on facebook, you can submit them on twitter, using the cato and we will get to those questions after presentations from all of our panelists, which we will get to right now. And we will start with mervyn king, so lord king, over to you. Mr. King i am delighted to join you at the cato institutes 40th monetary conference. 40 years ago, we were coming out of the great inflation, when inflation reached double digits or h
Passports. The stories of war he is. A fan. I dont the words and korea and below those of you who are watching from around the world its money market and here in seoul and bp announced on wednesday so much for joining us. We begin with the highly anticipated labor strike thousands of doctors in korea took part in a one day walkout this monday in protest of a government plan to enact reforms in the medical sector and turn the government has doubts start measures are quite a lot has more on that Doctors First collective medical suspension in fourteen years one day strike that by the Korean Medical Association began earlier this month the morning and ended at six pm. Doctors refused to provide medical services and many hospitals across the nation great posts the government ordered doctors to return to work immediately. The Health Ministry estimates say thats twenty nine percent of doctors nationwide participated in the walkout by the medical association puts the figure at forty seven perc
To pay for solar electric systems and solar Water Systems over the life of those systems and thats an impediment and right now the vehicle for that is Third Party Ownership and Investors Group and wallstreet owns the systems on peoples homes and only addresses the solar electric system and not how we reduce the natural gas usage, how we reduce hour water usage and how we decarbonize our transportation and those three issues are actually major issues with respect to Climate Change and how we respond to that, so we have a huge opportunity to respond to Climate Change and by engaging a local work force to do that work and skill people up. We have many Old Buildings in San Francisco. Many Old Buildings that would benefit from the upgrade of those buildings to be more efficient so people can spend their money other than on their utility bills. Right now the barrier to that is being able to pay for that. Paying for that over the lifetime of the system so that you can pay it with the savings
Very much and i am looking forward to participating in it. Thank you. Much appreciated. Supervisor mar any comments or questions . To all the speakers if you have any other comments and again mr. Chin or commissioner arsy if you want to come back up and any other questions or comments otherwise we will wrap it up. Thanks supervisor. Just one thing i wanted to say and you mentioned city build on the work force side we are exciting about city build and the role pat mulligan can play and the department of the environment and we have them here and there is capacity and infrastructure with cal and rich at the department to be really supportive so i wanted to add that component and everything is set and ready to go and were excited about the potential moving forward with the program. Supervisor mar. I did want to ask if rich can elaborate more on how this is legally defensible given the changes at the federal and new changes at the state level and how this is privately financed as well . Sur