We take you to capitol hill for a House Oversight hearing on the Economic Impact of Climate Change under way. There are several reasons the on as a consequence it undermines the american people. Let me list. One, in 2018, the Trump Administration instituted a smaller social cost of carbon of 1 to 7 compared to 50. Its based on two faulty assumptions. First, it uses inappropriately high discount rates that are not supported by economic theory or Financial Markets. Second, it fails to account for damages that occur outside the United States. This failure discourages other countries who in total produce about 90 of total co2 emissions from undertaking emissions cuts that would benefit u. S. Citizens. The United States special role in global democracy can produce demonstrable benefits for u. S. Citizens, and we are failing here. The absence of meaningful progress at the recent madrid climate talks is evidence of what happens when we retreat. Number two, the social cost of carbon is no long
Health secretary ben carson joining the conversation at the white houses Mental Health summit. Iftrying to figure out everyone is together. Let me double check. We are going to get started. The subcommittee hearing will come to order, without objection, the chair has authorized the committee sometime. This briefing extension of several herrings we have had, discussing Climate Change. We are focusing on the Economic Impacts of global warming. I will defer the Opening Statement to myself. When we spoke earlier in the holding area, i mentioned the fact that we would be trying to do a hearing. This is a briefing. We do have time for your Opening Statements. What i would like to do is afford each of you the opportunity to do so. Let me introduce the four of you and then we will move to you, mr. Gomez. , governmented gomez accountability office. Dave jones, senior director for environmental risk. Dr. Michael green zone, distinguished professor of economics at the university of chicago, and t
Ive seen them all by the post special, and thats especially for the people cannot forts, kind of go to the post station or someone to see cause time on have a problem. And if they uh, come at a spec, the or quantity shown the look at the quantity shown being the 4 special and full i palm y and theyll be sold in the hosp, the and the bring you the staff to the pull special and into 40 in the, the port special weve on condition. Yeah, they have a condition uh to, to save the sale post to show them. So thats kind of a system is very new for me and the i seen as well. Thats the most of the population as well. What for electronic 14. Yeah. And so the technology. So the new technology, i see see huge. Yeah. Well my advice and it was the 1st time that its ever being done on a president ial level. So thats, it is a big step. I think for russian elections will be interesting to see if we see it taking off some internationally as well. I wanted to ask you, um, did you see any uh, incidents with
They have fared pretty well during september. But earlier in the year when we saw that huge rally in tech, they performed quite badly. Going back to the micro and macro factors, when earnings are important, Balance Sheets are important, they should be the perfect time . Of course, for the last month, we have seen macro factors coming in strong. We have seen the higher for longer narrative. We have seen political developments. So, now that those micro factors are fading in, it can matter again soon. Guy abigail, talk about dispersions in the market. What are correlations at the moment . I look at volatility and it seems to be suppressed but then you look at single stock volatility and it seems to be elevated. There are trades that are long single stock vol. All i see on the daily basis is a violent rotation. In theory, that should be a market in which you want to pick stocks. Day by day single stock news is there and we are getting big moves. Abigail great question. Correlations are rel
And potentially we have a deal. What about the irish border . At one point it was that a twomonth high, 5 10 of a percent. And we are talking about 58 basis points, modestly steeper by a basis points as you had supplied coming from the front end earlier this week. Bitcoin, 10,000. Jonathan about the happen again. Alix 11,000 call . David it just keeps going. Extraordinary. We want to get some news outside of the business world. First word news. Emma good morning. Breaking news, matt lauer we understand has been fired, according to the new york times. More on that story as it crosses. On capitol hill, republican plans to push a tax bill through by the end of the year picking up steam. There was a closeddoor session, called somewhat of a lovefest. The Budget Committee looking to send the tax bill for a vote as early as tomorrow. And north korea warns that the latest missile can deliver a Nuclear Warhead anywhere on the u. S. Mainland. The regime conducted its first missile test in two mo