Stay updated with breaking news from Peter schiff. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
t booktv.org. eye unanimous in furchtgott-roth and jared meyer argue that government policy are robbing millenials of their future. that s next on booktv. [inaudible conversations] good evening. good evening. i m vice president for policy research at the manhattan institute and it s my great pleasure to introduce you to to welcome you to discussion by our senior fellow, diana furchtgott-roth and her colleague, jared meyer, co author 0s of the book: disinherited: how washington is betraying the young. the per sissents of debt of the federal government driven by the promises of entitlement programs such as social security and medicare have prompted martin feldstein to observe that fiscal deficits impose a burden on future generations. borrowing only postpones the time when taxes will have to be paid. even more pointedly former u.s. comptroller general david walker has spoken of the problem of generational theft. present consumption indulgence that robs the young o ....
maybe not. we ll see if that is on target. and cbs and walgreens very nervous. amazon may be planning to break into the pharmacy business. all that and more as power lunch begins right now. and welcome to power lunch. i m melissa lee. stocks having their worst day in two months. stocks losing gains. it is the dow s biggest one-day drop since september. apple, goldman accounting for about 100 points in the dow s drop today. financials leading these declines this hour, charles schwab, the biggest losers. wall street s peer index the vix soaring to its highest level since april 21st. welcome, everybody, to power lunch. i m tyler mathisen. we begin this hour as we have many days recently with drama in d.c. and today it is driving the market down. a memo by the fired fbi director james comey claiming the president urged him to drop the investigation into former national security adviser, michael flynn. let s go to eamon javers for the latest. reporter: we are told ....
controversies behind him with a very busy schedule, he will meet with pope francis, emmanuel macron and israeli prime minister benjamin netanyahu, but the political drama of the big topic of conversation is just that. here in las vegas at the annual hedge fund conference as we ve seen celebrated in gains this week, a powerful lineup to discuss all of the news. former u.s. ambassador to saudi arabia robert jordan. billionaire real estate investor sam zell how he thinks the trump presidency could affect the economy and the worrisome warning sign in real estate. lifestyles of the rich and famous host robin leach is here live, he ll share thoughts where and how the wealthy are investing and spending. living in luxury 2017 style. we re less than an hour to the closing bell. look at the dow, up 175. live in las vegas with the power players from wall street and beyond. let s start the countdown. breaking news capping off a week of market ups and downs and political highs ....
jon fortt and brian sullivan is also here for the hour. good morning to all of you. carl has the morning off. joining us, business insider ceo henry blodgett and stifel nicolaus market strategist kevin karen. we re going to talk about the markets, talk about the fact that we are not only hitting and opening at dow 20,000 but also rising through that level. president donald trump commenting on the market s record move in an interview yesterday with abc s david muir. take a listen. i m very proud of that, very proud of that. the business community, and the labor community you saw that with the labor numbers that came out. one said it was the single greatest meeting i ve had with anybody. it s the highlight of my life. and the dow on top of it just hit 20,000, first time in history. i m very proud of that. now we have to go up, up, up. we don t want it to stay there. you know, it s not uncommon, guys, for a president or an elected official to talk about economic indi ....
we take a peek at the president. it could add even more fuel to the rally. the presidenter outlined two big spending opportunities. he is talking about infrastructure and defense spending. he made a speech. he highlighted some of the infrastructure around you guys in new york city. he said when you drive under the tunnels in new york city, it is a little bit scary because you feel like things will fall off the kriel on to your car. we have to fix our infrastructure. it is not like we have a choice. we have no choice. and it means jobs which is a good they know. other big priority is defense spending. take a look at the numbers of where their budget is headed. this is just a plimt look. they re outlien ning for us. they expect to spend $603 billion on defense on. nondefense, 462 billion. that s a cut. their going to zero out all those spending increases. net/net about, the same in terms of the deficit from where it was last year. but no specifics from the white hou ....