wall to china. yeah. u.s. officials, the biden administration believes the relationship with china remains the defining one, not just for his term, but for this century. they simply haven t been able to get there yet. this trip, which began a few hours ago, is hoping to accomplish a lot. certainly on the economic and supply chain issues, that s what the president is focusing on today. in the samsung plant, he is unveiling a new economic plan for the region. it is short on specifics, but that is goal number one. there s obviously a few other things shadowing this trip. of course, the war in ukraine. the president there to thank japan and korea for their support in the effort. there is, of course, growing concern about the escalation from north korea. they ruled out a trip to the dmz. the president isn t doing that this time around. officials worry north korea will do a detonation test while the
they are. as you can see, it has been an accurate indicator of some significant market turns. black tuesday, 1929, stock market crash. you see how expensive they were then. in the late 60s, when the stock market rolled over for a fairly long period of time, i m showing a market top there. you can see what happened in the early 80s when stocks really began their climb back. you can see the dot-com bubble. the next dip down, which i didn t mark, is 2009 when stocks also took a turn way back up. so you can see on the right that we were, before this downturn, at the second highest second most expensive stock market in over 100 years. this decline that we ve had only brings us a little way down. as you say, i m not predicting stock markets. i m not in that business. no good investor really tries to predict stock markets. stocks still look awfully expensive from this measure and from a lot of other perspectives, as well. steve, before you go, just
issue they really have very little control over? exactly right, joe. we re paying the check for a lot of those decisions. let s look at the short-term pain that david was talking about. so i m an optimist. i ve started two companies. but there s very little to be optimistic about if you re trying to feed your family or if you re a west wing strategist trying to feed your family. let s look at a couple data points. so those fed decisions have very uncertain outcomes, and, of course, are not precision instruments. even if everything is right, look at that short term. look at double digits, 10% or more, increases in food cost. my barbecue place in arlington, virginia, the pitmaster there, told me brisket for him is twice what it was last year. he said you can t have a barbecue restaurant without
could do better than we did and you have an oversight committee next week. you re before the committee that funds what you do. yeah. so these this information is relevant to this subcommittee of appropriations. well, i appreciate what you re saying. the investigation is not completed yet, so i m not in a position to answer specifics like that. katty kay, wow, there are so many questions at this point. first of all, i m going to want to know how exactly they re going to distribute the formula that is coming from abroad. how quickly they can make that happen. is that going to get caught up in red tape and drag out for weeks? because for some parents, they don t have weeks. the demand is so immediate and so desperate, which leads to a lot of other questions. i was talking to my brother about the millions of refugees at the border that are being coordinated and organized
brisket. yeah. we saw photos this week of gas stations that were changing their pumps, recalibrating their pumps so they can have $10 or more show up on the pumps. 40% or more changes in the cost of flights or hotels. joe, a lot of the people i m talking to are worried that people have paid for their vacations, people are going to take their vacations, but then the fall, suddenly, is very tough. what i heard from my dad in the 70s over and over again, and, mike, i m sure you heard it from your dad, what i heard from my dad over and over again, whenever he d come back from the gas station, it was how much the cost of a gallon of gas went up, how much bread and milk cost. those were the things. we can sit here and we can talk about whatever issues we re talking about that may be extraordinarily important domestically, maybe