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Hello, everyone. Welcome to the National Constitution center. I am for those of you dont know me im tom donnelly, our senior fellow for constitutional studies and thanks so much for coming this afternoon from what should be really spectacular program on americas founding. So just to get a few logistical items off the menu first. So first todays program is one of many exciting programs that are coming up in the fall season at the National Constitution center. Next week we will tackle the question of is the constitution judeochristian, which will be a great discussion. My colleague use our scholar in residence here will be moderating that discussion. In two weeks where hosting a conversational president ial legacies with Robert Strauss come author of the new book worst president ever. James buchanan, the potu ....
We cant ignore international competition. The question for the committee is, if the United States isnt going to adopt some form of intellectual property bonds or patent box, what are we going to do . Are we going to just ignore what is going on in the rest of the world . It hardly seems like a good idea. But the downside and people have noticed this of the patent box or intellectual property boxes that unless theyre carefully crafted, you can have a serious problem of encouraging too much property being included in the patent box, and you get a lot of revenue erosion that way, and its pretty undesirable. The issue really is what are we trying to achieve with the intellectual property box and patent something to the answer should be we want to encourage activities we would otherwise lose, and if we find ourselves in that situation, then we should try to figure out a way to craft one of these things. The rest of the world is doing an ....
People working to get themselves out of poverty. Sam from the financial times. Thanks very much. You were talking earlier about the u. S. As a bright spot, among advanced economies. The story of the president ial campaign has not been that American Voters feel this has been a bright spot recovery. Is there a risk the administration is feeling out of touch with public mood about the u. S. Economy at the moment or are we overestimating just how negative people feel about the economy . First of all, i dont know, you know i look at evidence from the measures that economists look at about how people feel about the economy are the Consumer Sentiment index and the Consumer Confidence index from the Conference Board and the university of michigan. When you look ....
Of decline. It caused the averages to slightly rebound. The dow closing up 46 points, pretty impressive. Call me cynical, but i think we need to be careful about getting too excited about any near term resolution. How many times during the debt ceiling debacle, remember that . Did our leaders insist they could hammer out a deal. Even a huge grand bargain to fix the deficit only to have the negotiations unravel. Until we get a resolution, the fiscal cliff will be the most important issue out there. Tonight as part of my game plan, im going to give the historical prism as long as the cliff is hanging over our heads. As a gristled veteran of the markets, i searched my memory for the perfect analog for this moment and found it in something that happened more than 20 years ago before i give you the investing framework for the next six weeks, lets go over the more time sensitive stuff and game plan for next week. Shortened week because of the holiday. First off on monday morning we hear from ....