And frankly, a Government Shutdown seems more likely than ever. And ben bernanke says this concern was the factor in the decision not to cut back on their stimulus. And what will it take to get younger americans to invest in the markets, to save, or even buy homes . We assemble an all star panel of young cnbc millennials to get some answers. All and more coming up on tthe kudlow report, beginning right now. Good evening, everyone. Im larry kudlow. Its 7 00 eastern time, 4 00 p. M. On the west coast, and we are live on the kudlow report. The big news today, ben bernanke gave us a shocker that stocks and almost Everything Else just loved. Take a listen. In light of these uncertainties, the committee decided to await more evidence that the recoverys progress will be sustained before adjusting the pace of asset purchases. All right. So no taper. The fed is going to continue its 85 billion bond buying program. And check this out. Investors really cheered the news. The dow and the s p 500, b
We continue to move to the down side. We should add as we enter this hour, were off about 41 points. The nasdaq, though, bucking that trend. We should show you the tenyear yield as well. Thats been up ten basis points today. That gdp number had a big impact on that. Its up nine basis points to 2. 55 , and the 30years 3. 2 right now, so moving quite higher. But im stealing oh, now its at 3. 30 , as a matter of fact, 3. 31, do i hear 3. 32 . Im stealing Rick Santellis. Troubling reports out of russia and ecrane, things that may be escalating. Stocks may have lost early gains on those worries. Well talk about all that coming up. Also, forget tax inversions. Now outversions are the new Corporate Tax trick. Oh, thats right, yeah. Youve got to look up on cnbc. Com. You wrote about that on cnbc. Com in a story thats getting a lot of interest right now. It involves companies spinning off their Real Estate Holdings into Real Estate Investment trusts, all, of course, blessed by the irs. Some sto
Wasnt the kind of transfer of power that the president has at times said he would be a participant in, a peaceful transfer, its none of those normal things, but it seemed to be the truth slipping through the cracks. When he caught that and saw the reaction to it, he then in all caps mode began to send additional tweets saying he was not conceding, that, again, asserting a rigged election and all of those kinds of things. A big part of this is about preserving some things for President Trump. Now, he may get to a point where he will acknowledge the known fact now that joe biden will be the next president , perhaps thats when votes are certified, perhaps it will be some other point, but in the intervening time there is some other things happening and you know this well, jonathan. There are emails and Text Messages seeking funds for the litigation part of this postelection period, but included in those solicitations for donations to Trump Supporters its clear that some of that can pay for
Total of 2400 for a family of four. There is an extra hundred dollars a week in Unemployment Benefits it. Revives the Paycheck Protection Program with a cash infusion and it extends the Eviction Moratorium and also provides funding for vaccine distribution. Now, it does not provide liability shield for businesses. It does not provide money for state and local governments and it does not provide direct aid to the Restaurant Industry which has been so hardhit already. Many lawmakers are complaining the bill doesnt go far enough. But, Senate Majority leader Mitch Mcconnell says it hits the mark but he blames Speaker Pelosi for holding it up for so long. Well, so its noteworthy that at the end they finally gave us what we could have agreed to back in july. I think what held it up was they did not want to do anything before the president ial election. I think they felt that that would disadvantage the president. Griff its a far cry from where Speaker Pelosi began negotiating this summer a n
Of course, david sirota joins us, as well. Weve got an all star panel here. David is hosting the war room this week. You should check that out, right before the young turks. Thanks for the plug. Lets get started, guys, let me start in on the latest story about president obama and of course, the leader of russia, russian president vladamir put tin. President obama has canceled the meeting they were going to have in mass cow partly because of the Edward Snowden asylum issue. Lets show a report and then discuss. U. S. Russian relations have been strained and the kremlins decision to give Edward Snowden temporary asylum fueled the flames. Today the white house announced that president obama will not meet oneonone with president vladamir put tin next month when in you russia for an international summit. The white house said that there wasnt enough progress on the agenda to offmeeting, but theres also this. Russias disappointing decision to grant Edward Snowden temporary asylum was a factor.