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From your sense, from your reporting, are there any republicans, whether on capitol hill or perhaps his new chief of staff, meadows, who is more of a political warrior, perhaps, will be able to get in his ear and say, sir, your approach needs to change here before this becomes this crisis completely envelo enveloping your administration? i know our time is brief, so i ll open my notebook and offer a few, quick thoughts. the situation over the weekend is this, there s no consensus on capitol hill, because of the frayed relations, to get anything done on that level beyond just more funding. they have an $8 billion deal, not much more at this point. the real conversation is about federal power. what is the president and executive branch going to do? is he considering emergency measures to protect hospitals, to try to increase the number of icu beds in this country, to move forward in dramatic ways that could rattle an already rattled global stock market situation? that s what s confront ....
U.s. in the subprime crisis. there s been a tripling of debt in china over the last few years. an example, the debt-to-gdp ratio in china is 300%, more than triple what it is in america. put it in caparas within greece, greece pales in comparison. greece is a sideshow. china creates a new greece every six weeks. china is 30% of the world s growth. and the stock market situation is totally out of control. stock markets in china are kind of a new thing to start with. there are 90 million mom-and-pop investors in china. two-thirds of them don t have a high school degree. not talking about a sophisticated investor base. we re talking about a very volatile, nascent market here. is there a kind of one view of how this all happened? we re looking at a bubble here. totally looking at a bubble. it s something we know has been building. when lehman brothers crashed and we had our financial crisis, ....
It s same thing, conservative christians want the same thing as libertarians on that. how come when the government spends money on the war, they have no problem with deficit spending? i m just asking. i understand, it s something i address in the last chapter of the book. the challenges can t always be about just we don t want to increase the debt ceiling and we re going to be a pain on capitol hill. why would a guy or woman who goes to church on sunday, is a good person, believes in jesus and salvation and everything is true and good, care about the corporate tax rate. why would they want to lower the corporate tax rate? if you look at the corporate tax rate, you know, that dire directly plays into the whole stock market situation. if the stock market situation is good or bad, it s going to affect the family. by the way, we saw the stock market move up rather brightly today simply because things in europe are looking better. but look, lower taxes in the conservative evange ....
Spends money on war or the bailout or something like that, the right has no problem with deficit spending. it can t always be about, we don t want to increase the debt ceiling and will be a pain on capitol hill. why would a guy or woman who goes to church on sunday, a good person who believes in jesus and salvation and everything the true and good care about the corporate tax rate? why would they want a lower corporate tax rate? if you look at the torp rat tax rate, that plays into the whole stock market situation and if it s good or bad, it s going to affect the family. by the way, we saw the stock market moved up today because things in europe are looking better. lower taxes in the conservative evangelical role mean more money you re going to spend on your family. ....
We ve heard a lot of talk from people, they are optimistic. the hopkins family are here on vacation, they are spending money. a lot of them say they are making changes at home because they just don t know what the future holds. jenna: we have experience with volume tilt don t we going through the financial crisis. it will be interesting to see this a kwroupl years out. is there a feeling in general whether you re talking to tourists, or the market analysts that you re speaking to that the markets will actually improve? reporter: this is a tough point and sort of the crux that we re at right now. everyone has to decide are the companies that have sold off 10, 20, 30% over the past few weeks are they really worth that much less? what we re starting to hear from some of the analysts out there, hey there are companies where we ll see anxious buyers start to chip away from them. that will help the overall stock market situation, which we ve seen today. at the end of the day, jenna, we ....