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In and build asset bases for themselves. so it shouldn't come as a surprise that i'm very much aligned on the policy that the prime minister is promoting. so that means, yes, tax cuts and it also means something you argued for, i assume, before liz truss became prime minister, which is looking again at spending, reconsidering spending. well, i've spent my entire political career and it's now quite long, very, very focused on the spending side of the revenue account because, you know, we a we have a moral obligation to make sure that we're not wasting any money. and i know politicians always sa...

And they are really, really difficult. much more difficult than those of us sitting at home shouting at the television set, might imagine. >> justin, let's go back to the inflation bill. because as infuriating as it is to see the carried loophole -- carried interest loophole still intact, again, the private equity industry is going to get hooked up ridiculous, it is true. let's talk about what they are doing. and it is estimated that this 1% tax on stock buybacks, that's going to bring in at least 73 billion dollars. and putting this minimum corporate tax, that's huge. put into context for us ...

That is why it is important for folks to understand what is going on. >> and i get back to the markets, and what the fed is doing? indication was that things are softening on the spending side. they are seeing some impact of inflation. it sounded more optimistic than what some people thought, in terms of what the fed might do next. i'm watching europe at the moment. you have an energy crisis this week that is going through the roof. energy prices are up 10%, because russia is turning the taps off. what are the risks that whatever the fetter doing, we go into the fall or winter, and what is hap...

Under lying that is an economy with the strongest labor market and generations spinning off numbers up 26%. >> let's talk gdp. it was negative in q1. it will be negative in q2. technically, that meets a recession. does the white house acknowledge we are technically in a recession. >> the technical definition is not two quarters of negative gdp but it has to do much more with a number of economic variables. actually doing better right now for payroll growth. they look at payroll growth. consumer spending. they are actually very strong on the payroll side and strong on the spending side as well....

With the strongest labor market and generations spinning off numbers up 26%. >> let's talk gdp. it was negative in q1. it will be negative in q2. technically, that meets a recession. does the white house acknowledge we are technically in a recession. >> the technical definition is not two quarters of negative gdp but it has to do much more with a number of economic variables. actually doing better right now for payroll growth. they look at payroll growth. consumer spending. they are actually very strong on the payroll side and strong on the spending side as well. in fact, one of the things we ...