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Index, measures the strength of manufacturing slips to the lowest level since 2009, everybodys going to freak out theyre worried about a recession. Which is why the dow lost 304 points, s p 5001. 23 and the nasdaq dropped 1. 13 that was last week now this market was due for this beatdown but i also told you that i dont believe were headed into recession. Im standing by that position. But the recession thesis became more compelling today and you need to get your head around it if you want to understand this market so let me lay it all out for you. One place. The single biggest problem behind the recession thesis is the president s trade policy but maybe not the way you think. Trumps towers and chinese exports have done realdamage t the chinese economy. Second largest in the world. As china falters, it is taking the rest of the trading partners with it, especially europe, throwing worries about brexit along with a lack of fiscal stimulus from germany and you have a worldwide slowdown goi ....
Was on the phone. Medics rushed into the hospital life threatening injuries so far police have not released his name or any suspect information. Anyone with information should call the crime line. Well turning now to your wakeup weather forecasts you may not be able to tell right now but its going to be a Beautiful Day in Hampton Roads. Its going to be sunning its gonna be well not so chilly. Its chilly this morning but its gonna warm up a tad downtown hampton neighbors are waking up to temperatures in the low thirties that scored once the sun comes up a little warmer meteorologist nations caught with all the details good morning i got morning towel in the morning everybody thats right were going to see another called a rock so cold start this morning but we will have a lot of sunshine in the forecasts about the good news for us take a look at the numbers. Boy did call in for a ....
I think it will rest with the press. Democrats are at least as good as republicans on skating on this. Forecasting the moment this would get ugly is now. 2014. Looks different in the next 1015 years. If you win, you will cement a budget in 2017. Over 90 without taking changes in mandatory programs. How do you fund all the things you want to find . Keep our nation strong. Fund it at a fair level. Both infrastructure and education. The press says, you cant do it. Were talking if this person becomes president in 2017. Cap got they have got to have a budget. Both parties whoever wins are saying, we have midterms. We dont want something controversial. Those of us over 60 50. We dont have to be told. We know how important it is. We vote accordingly. We will respond to fear mongering. We will be forging in the alley for food. We are insufficiently peach got a to do the right insufficiently patriotic to do the right thing. I dont think democrats are less capable of dodging the press. I emphasi ....
Budget for the year. The highway trust fund. There are a number of things that have been fixed, patched, for a couple years at a time. When you look at the big picture, that is what is happening in the big picture. So one could say, all right, maybe we can keep doing this, pushing things off. I think all of us have alluded to why this is different. I want to see if i can summarize. The demographics are different. In 1994, you had a favorable demographic scenario in the short term. The baby boomers were in peak earning years. And it was a much smaller elderly population. Now the boomers are pushing 70. A lot of them are collecting Social Security or medicare already. That has a couple of effects. It has a big effect on the federal budget. It makes medicare much more expensive. It is a lot more beneficiaries, which means the programs on autopilot are going to be more expensive. That is beginning to happen now. It is having a demons ....
And by contributions to your pbs station from viewers like you. Thank you. So just about a year ago, Anjelica Huston was in this very chair talking about her first home, a memoir in ireland called the a story lately told. She let us know she was writing more about her life. And i immediately asked her to come back when the book was done. She agreed. Since then, weve hung out in new york city. And now shes back in l. A. To join us tonight for the new book which is called the watch me a memoir. I am honored to have her back on this program. You kept your word, and thank you for doing that. My pleasure. I want to theres so much i want to talk to you about. Im glad ive got a full show and can do three or four nights with you given what you have in this book. I think i want to start our conversation with where your book essentially ends. I want to begin where you end. W this wonderful line reminded of an irish phrase. When you are fac ....