Talks have been delayed until thursday. Diplomatic and trade tensions between australia and china formed the backdrop as the rba prepares its latest statements. Economists see no change. Shery we will start with breaking news out of south korea. We are getting the final Third Quarter gdp numbers. When it comes to the year on year numbers, a contraction of 1. 1 . This is coming in a little better than expected. The quarter on quarter numbers also rising more than expected, 2. 1 , and beating estimates of growth of only 1. 9 . We have seen some pretty positive ratings especially when it comes to the south korean export numbers. They have seen a lot of external demand, especially in china and the u. S. , despite the fact we continue to see virus infections accelerate in those economies. Again, thirdquarter gdp numbers for the final numbers now beating expectations and coming in at growth of 2. 1 quarter on quarter, haidi. Haidi lets take a look at where we are sitting when it comes to thi
2,255 points. Right now we are down 2,003 points. At 1 00 p. M. , money started fluttering down, the Federal Reserve making a move to support the bond market amid the coronavirus collapse. The s p 500, by the way, had been down 240 points and of course, we had 689 points getting slashed off the nasdaq. Right now the s p is down 219 and as we look at the nasdaq its down 619. Despite the feds move, the s p and nasdaq joined the Dow Jones Industrials in a bear market. This as the 11year bull market is officially about to come to an end. The selloff kicked in pretty much right at the open and five minutes in, triggered once again for the second time this week the Circuit Breakers that halted trading for 15 minutes. Lets show you some metrics here. The oil patch. Take a look at this. It is playing a huge role in this selloff once again. Oil is crashing, folks. We do have it down to 31. 32. Thats a loss of 5 today. Much of this comes after President Trump announced a travel ban on flights fr
In a natural relationship. But that being said, you dont want to create the government has a responsibility to the taxpayer to be fair and to be transparent. You have to do that. The question becomes how can you do that but at the same time give industry the flexibility to do what they need to do . I dont know there is a good answer which is why acquisition reform has been a buzzword for decades and continues to be something we continue to strive for and continue to struggle with. But i would say that is probably the hard problem of the century. But nevertheless it is something we have to continue to strive to get better because there is a balance between letting industry innovate and letting industry take responsibility and put goods into the hands of the war fighter that meet the war fighters needs and making sure that the responsibility to the taxpayer is upheld. So before i go, let me follow up with a specific question. Is there one word, based on your current understanding of wher
Traditional and in some ways Old Fashioned area of technology, yet one of very rapid and ongoing innovation. Very central to the performance of our military forces as well. And were going to talk about software and the ways in which systems, electronic systems, countermeasure systems that have heavy electronics and i. T. Component have to be thought about today, have to be improved. All of this relates clearly to some big themes in defense, budgeting, Defense Strategy, to what extent is Technology Changing so fast that we need to emphasize pursuit of a revolution of military affairs perhaps even more than we have been. To what extent do we need to get on top of a new wave of innovation and make sure our adversaries dont do it first. Or what extent is this an ongoing evolutionary process and a lot of exciting important things are happening but we dont need to get overly excited or disruptive about our approach to defense resource allocation. And the broadest of all senses it relates to
Think of me and us as a resource to help navigate that. What i brought today for the purposes of an introduction, im glad to answer any questions about our body of work but i highlights pages to two testimonies and theyre on the table over there. One was a testimony in may of 2010 before this committee, and it was based on a report that came out in july of 2009. And we were asked to look out how much progress had sba made in implementing the Small Business Disaster Response and improvement act of 2008. Its a mouthful. Ill now call it the 2008 act. Very important piece of legislation. It was a good way to look at progress sba had made from basically the problems that incurred during katrina and rita and it was also what remained to be done. The other thing we did was extensive fieldwork looking at the response of the 2008 disasters, which were of a smaller magnitude of katrina or sandy. It was the midwest floods and hurricane ike in particular where we did extensive fieldwork and we cou