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the end of the tunnel, more investors by day s end concluded it was a train coming at them and fast. to susan li with what went down by stocks going way down. susan? you re right. we did close off that bear market level. the dow jones industrials sub 30,000 now. the lowest close that we ve seen for the dow jones since november 2020. that means the last two years of gains have been wiped out. you have fear an wall street at the highest in three months. several factors here affecting sentiment. that includes the on going war in ukraine and also a stark realization this week that the federal reserve and chair jay powell is serious and adamant to keep raising interest rates in order to kill and bring down 40-year high inflation. 75% of wall street now expected interest rates to cross 4% in november this year. that means you re getting the highest yields on ten-year government bonds in 12.5 years. so the good news here is that higher rates is destroying demand. that s brin ....
to the american people. inflation, crime, border security. all fitting into these four categories. an economy that a strong, a nation that is safe, a future that is filled with freedom and a government that that is accountable. here s republican leadership today. they control the house, the senate, the white house, they control the committees, agencies, it is their plan. they have no plan to fix all of the problems they create. there can be hope, opportunity so that when you wake up is not just going to work for yourself is to go to work to make sure that your kids can have a better future. there s nowhere else in the world with that opportunity exists. moms and dads across this country they know that parents are the primary stakeholders and their kids education which is why we will pass a parent s bill of rights. speed to compare with president joe biden. with the biggest teachers union in the country. yep who push school shutdowns and masks for your kids address ....
deficit spending and options to pay for their infrastructure bill they re working on now. progressives are advocating for a wealth tax. the white house is reportedly focused on increasing the corporate tax rate, raising income taxes for those making more than $400,000 a year and other tax hikes that would impact the rich. biden president biden seems to realize that republicans are not going to get on board for this. i ll get the democratic votes for a tax increase. if we took the tax raise back when bush was president, 6%, that would raise $230 billion. because republicans have lined up against it, there s new pressure for democrats to strap the filibuster. moderates like joe manchin oppose nuking filibuster. president biden indicated he s open to the idea. republicans are calling it a power grab and they re warning democrats could use the change for immigration reform. they re prepare to steam roll the senate into a body like the house because they get in the w ....
neil: always goes back to the drug thing and the prescriptions. everywhere else guess what? as you and i both know, money is fungable. neil: okay. gene, thanks very much. we see and hope you re right. jesse: it is 5:00 in new york city and this is the five. republicans are outlining their bold visions for america near the midterms and giving them a clear contrast on the matter of policy some democrats. the g.o.p. s commitment to america put in the spotlight on the issues that actually matter ....
Get these budgets and statements, what the budget is, what they re complitd committed to. i always say to people, if you want to raise taxes, lower taxes, it s the money that we have allocated going to the institutions we allocated. in other words, is it going where we re told it s going. have you gotten any sense of that? yeah, i think i have, actually. you know, one of the things about government we have to understand it the money is what i call fungable. a certain amount dedicated to social security, if it s underfunded, the federal money will fund it. if you look at it in aggregate, it s hard to know if it s going ....