Morning. They said this is not about paying the japanese, not about paying the chinese, youre not going to get your Social Security check, doctors arent going to get paid. Ive been waiting for them to do this. That is devastating from even the most rock solid rightwing politician. But you cant go against socsack. The Interest Rate can go up and the japanese may not be paid. Boy, they got rid of that. Thats the jpmorgan argument, the bankers. No, its now retailers. Ling congressmen are going to be targeted. You cant get against Social Security. Its sacrosanct. And secretary lew said do you want to pay veterans or Social Security . You decide. This is expected to go for maybe another half an hour. Lets go back to capitol hill and secretary lew. The fact is that we have not dealt and in that compromise we dealt with Discretionary Spending almost entirely. We have not dealt with entitlements, which the administration seems to say are off the table and now weve got yet even more demands for
Are concerned about the global economy. Do you feel like he is not as concerned as everybody elses. Steve is playing in the private markets. Those investments take a lot longer to mature. Whether he feels relaxed or not it is not easy to move illiquid assets if you are a black so if you are a Blackstone Group and one of the things we talked about was russia. Impossible not to talk about russia. Steve sits on an International Advisory panel. That is a position he still holds. I want you to hear Steve Schwarzman talking about the rifts in russia and how he plans to respond. I think in the short term, other than if you are a market operator, which we are not, we buy assets on a longerterm basis as a rule in most of our businesses. It is time to watch. This can have a variety of from going back to business as usual or lurching off into some other direction. To make markets to make money. Who is on the other side of the market . Steve tannenbaum. At where gasu look is straining in the 400,
Spirits, its hard to see anything going wrong in the world but there are definitely things going wrong in the world. How worried are you about russia . Russia is a complicated thing. Its a complicated situation and its an area where we dont seem to have much in the way of leverage and control. I dont know that the russians were sitting around waiting to take crimea. Thewhen the root revolution happened, it was an opportunity for them and its a natural sphere of influence for them. And they took it. There was nothing the west could do. The biggest structural problem in terms of dealing with this type of crisis is that the russians provide about 1 3 of the gas into europe. If that gas were reduced or turned off, it would have a very material impact. As you think about how to manage a crisis, with that in the background, that is the problem. On the other hand, were the russians to do that, that would affect them financially adversely. Its a bit of a complicated singalong with the ethnic r
Tearing through the town of wenatchee. Those who returned home today found little to salvage. More than a dozen large fires are burning in the west tonight, and joanna small of our seattle affiliate kiro is in wenatchee. Reporter the massive Sleepy Hollow wildfire burned through the canyons and hills of Central Washington state, destroying 24 homes and forcing thousands to evacuate. The blaze ignited in brush and quickly spread when embers blew into downtown wenatchee. Incident commander nathan rabe said wind was their biggest problem. As this fire extended with the winds that they had, it threw embers and stuff downwind. Reporter in the hardest hit neighbor of broadview, fire crews worked through the night sunday, hosing down houses. Jon dominguez left when the fire started approaching his house sunday night. Oh, my god, this power is so impressive. Big orange glow, kind of a fireball, and a lot of black smoke billowing. Reporter he returned home monday to rubble. This is all i have n
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