Good morning. It is a wednesday here in new york city. Youre watching Market Makers. Now, we willom hear from president obama. Before then, breaking news on housing markets. New home sales are officially out. Michael mckee has the new headlines front and center in the newsroom. We have a whole account housing. We have been disappointed but new home sales rose 18 in the last month as people went back and started buying. We also see a big decline in the number of houses available. , we have seen disappointing housing starts. That is starting to come home to roost. We have only a 4. 8 month supply down from 5. 5. 5004000 range. This is the biggest since before the economic crisis. All of a sudden, americans decided they did not just one existing homes. They won 18 increase in new home sales for the month of august. All right, michael. We are waiting for president obama to address the u. N. Is in d. C. We see the brazilian president speaking live and president obama will follow her in a fe
Boone pickens, another bloomberg exclusive. Welcome to Market Makers. I am Stephanie Ruhle p or and i am matt miller in for Erik Schatzker today. You know why he is not here . Today is the 41st birthday of matt miller. Happy birthday, big boy. Thank you very much. After what i can only describe as a blood bath last night for the democrats, republicans won just about every disputed race in the country, capturing the u. S. Senate in the process. President obama will hold a News Conference about what this means administration. Lets go to White House Correspondent Phil Mattingly in washington, d. C. The president is pretty clear right about what occurred last night at what that means Going Forward for his agenda is a couple of things. I think youre going to hear some conciliatory remarks saying he wants to bring republicans to the table, he wants to find issues they can work on, but he also wants to have a delicate balance to her he will say he will keep moving forward on executive actions
And im alix steel in for stephanie ruhle. We will have video of the ice bucket challenge later. Was a cold . That is what happens. A lot of video this morning. A little twist to buy Family Dollar. Dollar general is offering a larger bid after it already bid froma lower another rival, Family Dollar tree. Joining us is howard from chairman howard, the chairman of divisiveness and associates. What do you think about this . Its crazy, because now they will have to pay a 305 million breakup fee, and its even crazier that walmart is not buying this company. Walmart has been screwing around with small stores for 20 years. They were ground level zero. Everybody wants convenience. Walmart, once again, sleep at the switch. I dont understand that. As is what is going on. But this is what is going on. Will there be a third player entering this bidding war at some point . That is why the shares are trading, because many hope walmart will jump in. Dollar general could have had this asset month ago,
Yes you are. Where are you . I am at the conference in midtown. Bloomberg justat dont want us together. All last week you were in vegas. Now i am across town. I just set down with mary jo white. I will share that interview with you in the next hour. We are going to be speaking with some of the smartest minds and biggest voices in terms of regulation. Forward to it. We will talk with greg fleming from Morgan Stanley. I want to get everybody started with the bulletin. The cost of being too big to fail just went up again. The Financial Stability board proposes new rules to have ranks have loss absorbing capacity. This would be about a third of this in debt. Once you figure it figure in s, banks may have to maintain 20 of assets. Those western sanctions are sinking russias economy. The bank of russia protects that gdp will stagnate next year. This is because of the conflict in ukraine. The central bank also said that the ruble has fallen too far and that sent currency trading higher agains
Breaking news out of washington. New deficit numbers coming up in the congressional budget office. Analysts say the gap will be higher than they thought a few months ago but it is still going to be the smallest deficit since 2008. Peter cook is in washington with more. Put it into perspective for us. The deficit for this year according to the congressional budget office, 506 billion, up from the 492 billion estimate back in april thanks largely to weaker than expected Economic Growth which has hurt tax receipts. It is projected, the deficit, to drop lower in 2015, below the 500 million mark. The projection for this year compared to lesters deficit of 680 billion. It is dropping. Substantially. The projection for 2015, dropping to 469 billion. That would be the sixth Straight Year of falling deficit. The lowest number since 2008. The cbo warning the number is going to start to rise again starting in 2016 and eventually the 1 trillion thanks to Rising Health care costs, aging population,