I want to welcome everybody to the events today. How much money for the defense is enough . This began with a call i got from someone i respect who said toyo me simply how do we decide how much money the u. S. Should spend. I have to confess im more i ame comfortable talking about things like Social Security, the opportunity and about the defensee budget. I called my colleague here at brookings and i put the question to him how much should the u. S. Spend on defense and he said funny you asked i just finished an answer to that question so here we are and you can read all 20,000 words on the website but he wont try to read them all today. I want to start with the question i cant answer how much did the u. S. Spend, so can we get the first slide. The short answer is we spend a lot on defense. Theres lots of ways to measure but letsd start with a few basics. This is a pie chart that shows how we spent the federal budget in the last fiscal year about 900 million on defense roughly one out
I want to welcome everybody to the events today. How much money for the defense is enough . This began with a call i got from someone i respect who said toyo me simply how do we decide how much money the u. S. Should spend. I have to confess im more i ame comfortable talking about things like Social Security, the opportunity and about the defensee budget. I called my colleague here at brookings and i put the question to him how much should the u. S. Spend on defense and he said funny you asked i just finished an answer to that question so here we are and you can read all 20,000 words on the website but he wont try to read them all today. I want to start with the question i cant answer how much did the u. S. Spend, so can we get the first slide. The short answer is we spend a lot on defense. Theres lots of ways to measure but letsd start with a few basics. This is a pie chart that shows how we spent the federal budget in the last fiscal year about 900 million on defense roughly one out
What he said and well its all wrong and elon muck is taking on ford he say test it is la pickup truck is coming soon and bigger and better than f150 varnmy and company starts right now. Charles all right take a look at that, that baby is cold outside and by the way it is getting colder and were togs windchill numbers frigid weather the midwest i lived there for a year and a half i bet you it is like minus 20 below but kansas city can boast about being a balmy 2 degrees. With a rally hit dow 25,000 in 2017, and, of course, now that the tax deal is done a lot of focus on what is next on the the trump agenda for his administration and a pouked on trillion dollar infrastructure that package is on the docket now remember when Senate Minority leader Chuck Schumer said he would work with President Trump on Infrastructure Spending you dont remember roll that tape. To join us we expwrea democrats are talking about this and a bill long before donald trump was campaigning for the president. Now w
Take a look at some of the individual nasdaq winners year to date. Align technology, taketwo interactive, vertex, wynn resorts, micron. You stick with whats working. For most of those names, yes. They show growth if they can continue to show that growth absolutely most of these names fundamentally, when you look at, for instance, micron, i dont know whether or not its certainly a buy or not today, this moment, but when you look at this after it broke through 32. 5 it went straight up towards 50 i mean almost every single day yet when you look at the valuation and the Growth Prospects of this company, theyre still very, very compelling so i think there are plenty of opportunities out there, even in some of these names. Now, wynn, i love that name, absolutely love that name. And you love steve wynn. I sure do, you know why, because he led the way he was buying his own stock at 53 all the way up to 100 but can it hold up at these valuations at 170 a share im not so sure. Well talk to the
Look at the green arrows back this morning, even though the government could potentially be shut down. S p futures up by 4. 5. The nasdaq up by 19. Well talk more about that potential Government Shutdown in a bit. Overnight in asia, the nikkei higher. Up 0. 2 . Hang seng up by 0. 4. So was the shanghai in china in europe, at least right now green arrows across the board. Biggest gainer of the major averages is the dax, which is up by almost 0. 9 percent. The tenyear yield hitting 2. 64 yesterday. Thats the highest level since september of 2014. Again, concerns about the Government Shutdown really pushing things well see what happens to the tenyear when and if a budget deal is found. Right now it looks like its setting in at 2. 63 . Some big headlines this morning. Ibm returning to Revenue Growth for the first time in five years. Shares are down. Theres weaker than expected guidance overshadowing that news the company beating on the top and bottom lines but took a charge of 5. 5 billion