than to small caps. you know, once the markets bottom out typically early cycle environments tend to be the best phase for small caps but i think that there are still fundamental reasons that small caps could hold up well in this current backdrop we've seen cap eex spending and guidance hold up really well even in the most recent earnings season and small caps tend to benefit from capex cycles in the u.s. more so than large caps they should benefit from reshoring of u.s. manufacturing. and the guidance for small caps has held up during the most recent earnings season so certainly room for further cuts, but we think that small caps have been pricing in these risks. >> and let me jump in with sort of a final question here we don't see as many small cap managers as we do large cap stock folks here on cnbc but a lot of your brothers and sisters in your business say what is really important right now are strong balance sheets and reliable if not growing dividends. and i want you to talk about that within the

and involves price cap -- priced below the cap and refraining to do so from oil priced above the cap. the majority of providers, like insurance, payments, strayed finances are located within the g7 and eu countries. so, there is an overwhelming economic incentive for buyers to purchase under the price cap so that they can engage the services. it will be cheaper and less risky to move russian oil car goes in this way, we are already seeing this policy were, with russia forced to negotiate steep discounts for oil itself to buyers in asia. to close, i'd like to express my gratitude for the additional resources, that congress has provided in the appropriations package which helps as a treasury and across the u.s. government surge in the policy response to russia's war and critically, the support the people of ukraine. i'd be happy to answer any further questions you have in the setting and you continue to work with you on the future. >> director adams? >> i appreciate the opportunity to appear before you today on behalf of united states department of justice in my capacity as director of

and an oil price cap. while that a piece have slightly broader support is non highly cli had that would work. so the g 7 might want that china and india aren't on board, and it is even clear that would be effective. so there has been quite a bit of volatility. and in partners volatility is due to what's happening, the c b, it isn't really as volatile as one would initially, the, even the lack of belief that it would really be that effective. all right. now we know that the oil prices will go up and down over the last little months, and of course the output is different until they come. so we'll, but our markets on foreseeing in the future that they could be serious problems now with winter looming, literally just around the corner. laughing to see a way i would have been like in, in australia. i mean, you go into a some analysis going to be a slightly different, but always looking that may perhaps europe will stand up or maybe have to fight against the need for for heat. yeah, absolutely. europe's going to

will the price cap liga difference? guest: -- will the price cap make a difference?uest: we should be clear on what backfired. the sanctions today were implemented slow with a lot of deliberation. you and i spoke about the price p for the first time in may and now in september. of course, what we talked out back then, if they are discussing measures like embargoes, implementing them could drive up the price, even before measures gonto effe. that is what we s. the highest oil prices were in the beginning june around the time the packa started to come down since been. so, economically, these measures make sense then, to make sense now, and it makes sense to implement them quickly. of course, sanctions are not just about economics but politics. the reason that it takes some time to implement is we need to achieve consensus. we need consensus within the eu, and with the price cap, that is a more global issue, so we need some measure of consensus globally. brent: let's stick with economics for a moment. on a global level, is this going to bring down inflation? it is it re

some germans aren't happy about the proposed e price cap. i them i discuss the control the see with german opposition? politician ralph named maya, who says that us is trying to use but, and against its own european allies. well, i think germany is not suffering enough to stand up against the americans who dictate us festival, not to not stream to pipeline which mr. miller just confirm to me as ready and he just needed to press the button so he would have enough gas. and we wouldn't have to negotiate any price caps to secure supply at a reasonable cost like the used to have. so i think in germany as being used as a weapon against the european union. let's put it that way. if we, if we want to look at it from, from both sides now the war in ukraine, which we call of war, what about us would call opperation, but we call it one western europe and we, we see it more than now. we have a war that the americans fight in ukraine, not so much against the russians, probably, but rather against the european economies and as a tool, they use germany for

so this price cap may not make a difference to that. ., , price cap may not make a difference to that cap may not make a difference to that. , ., . ~' . to that. the it may not make a difference- _ to that. the it may not make a difference. they _ to that. the it may not make a difference. they make - to that. the it may not make a difference. they make it - to that. the it may not make a difference. they make it a - difference. they make it a little bit of a better discount committee right now import at a discount of about $30, but still, russia gets quite, it gets quite a bit of money for that. considerably less russian crude into europe, but when you look, india has imported nearly three times as much crude from russia as they did last time, and let's not forget india is the third—largest crude consumer in the world. so this really, that's really, it didn't make that much of a difference and last month, in july, the month before, russia even marginally up production. so it will not deal, it will not have the desired effect, i'm afraid. what about on the — desired effect, i'm afraid

so the g 7 finance ministers have agreed to introduce a price cap on russian oil. the actual price is said to be a topic of future talks, the restrictions that will allow maritime transportation of russian crude oil and petroleum products only if that oil is purchased at a price at all. below the cap g 7 liter state, a move as aim to reduce rushes revenues that moscow has already worn as simply won't supply oil to any countries applying these new cap restrictions just to run and consider those countries that will join the potential price caps will not be among the recipients of russian oil we simply will not interact with them in terms of oil on such non market conditions. our oil will go to other markets to those countries that are ready to act according to market conditions. a response from moscow is pretty straightforward. if you're part of the agreement, then that cit, you won't be able to buy russian commodities. and i'm saying commodities because potentially this isn't only about oil. so what are the u. s. the u. k. and allies trying to achieve here? we confi

what happened to this whole price cap idea being about denying putin revenues? now the politicians are basically emitting that it's just about saving themselves from the mess that they've made of their formerly free market by considering it for all countries. now the eas sanctions policy has been a bit like when you try to cut your own hair, you know, you give it a 1st shot, it comes a little bit crooked. you realize messed up. you cut it the other way. it still crooked. it's even worse. it's getting shorter and sure you got more and more some point maybe you realize that what you really should have done is just stop and think before doing any more damage. let's just say that bonder line seems to be finding it hard to put down those servers to say we can discuss this live in the studio with ralph ne mine i was chairman of the german opposition group for german store, quincy, and constitution. so many thanks for coming into the studio today. it's so nice to have company. nice. so let's start off with base price caps or the points ta proposal on the russian pipeli

it depends on how successful this winter is in capping energy prices. is another hasty question around, denying the -- when it comes to russia and ukraine, when it comes to shifting the demand from the current energy sources. guy: could the u.k. afford to do it again? this is the equivalent of the same amount of money we spent on the nhs. if it is something the u.k. could afford to repeat year after year -- imogen: we do not know how much this is going to cost in the first year. it is a difficult question to answer, we do not know what the spending is going to look like in the third year. we are still waiting for an announcement likely to come in the next couple of days. that is the first question to answer. there will be an amendment. the major difference in this price is the government reaction to this crisis, the -- in covid, while there was spending comparable amounts of money, we do not have the bank of england backstopping yields in the since the bank of england are not conducting and actually, the opposite. they may be selling bonds in the next c

prices below the cap and refrain from doing so for oil above the cap. there is an overwhelming economic incentive for buyers to purchase so they can engage these services. it will be cheaper and less risky to move russian oil cargoes with the surfaces. we are already seeing the price cap policy work with russia forest to seek discounts. to close i would like to express my gratitude for the additional resources that congress provided in the appropriations packages with helps us in the administration in the policy response. and to the people of ukraine. i would be happy to answer your questions and i look forward to working with you all in the future. enqueue. >> we will start with a five minute question. i will start with myself. we have had an impact, but it is not quite what we thought. in march, economists estimated contraction of the russian economy by 15% in 2022. the monetary fund showed moderate contraction of 6% this year. and the ruble has appreciated and rallied above its prewar value. there is clearly more work to do. it looks likely that russ

u is planning this cap on, on gas prices among other proposals. is that gonna help its energy market? so to just simply raise the stakes even further with russia? yes. the stakes with rational, it's already extremely high. i would say the gods christ kept question is secondary to the oil price kept question because it led to bonded to global important step. one is primarily a question for you. a pin market at this point of time. they also 2 aspects to this, but the gas price kept the $1.00 this into the price of this page to ship a gas import. but ultimately, the more important question at this point of time is better. this has to go married or the empower innovation is put out to force the married or the means to the over the most expensive power source will define the price of electricity. and this is now natural gas with a very small share and all power makes basically leading to a message for profit for the college innovation industry that is processing of renewables or coal or whatever. okay, so these are the 2 of the what we'll talk, we'll t

the cap right now is still an idea. there is going to be an expert panel that's going to be talking about what's appropriate here. the tough line. they're gonna have to walk is how high do you put it so that it discourages use, but still low enough to make sure that average everyday people can pay their bills, right. what's the pain threshold? in other words, i guess this means that this doesn't completely take consumers and businesses off the hook for prices. no, it doesn't. there's going to be a ceiling that's going to be lower than the actual market costs. and that difference is going to be paid by the german government, but where it is funding for the german government come from, from taxpayers like all of us. so it kind of adds the pain out a little bit so. so for gas users now it's pretty much every exactly. so right now this cap is still a twinkle in someone's eye. we're still trying to figure out what that's gonna be. and the hard part here is figuring out how do we keep demand a low, even if this winter is a po

and then we get to this price cap and the price cap itself is basically $2.00 steps, and in december, it's going to be imposed on maritime shipping. so the goal there is to disrupt insurance. so if you, if the ship can't get insurance, it's unlikely to want to carry a cargo from russian federation. and then in january, january, 5th, go to the oil itself. basically what that, what that says, the united states, european union, nato countries and others. they want to avoid, or they want to give as much time as possible between saying what they're going to do and implementing what they're going to do because they're hoping that domestic politics, meaning citizens in the countries that are most affected, will have a chance to, to settle down a bit and they are praying to the weather, gods that the winter will be mild. is high. the other likely the, the winter is i, especially the global one, who gets a global warming is in a 2nd on but i mean, see with, with, with, by them it seems that, or with, especially that the pressure that biden's putting on you said other countries, if they don't i

in the meantime, you mentioned that the cap on oil, that is that cap on oil price is going to work. and why does the west need that price cap when european nations are trying to phase out the reliance upon russian oil in the 1st place? the oil price cap is basically not needed that much from the european point of view . it's needed from the global point of view. because the question is, how much oil the supply washer to the market? and there is an insurance been coming up on shipping oil to food companies, and that is the powerful penn from the european union. and that is happening basically to cut off washing supply washer. it's actually struggling to place its balance in the market. yes, china and india buy more than the used to, but pretty much everybody else has data on the sidelines. the complexities and that this s now there with even no actually legal restriction, an important question. but the insurance band will come up in december. we fully effective in december this year, and that is something that you could say. it's actually forcing cheese 7 in the european union. in in

as opposed to india to join the russian oil price cap coalition. however, new delhi has yet to comment on the request. we spoke to our daughter, she chakrabarti an international relations expert who says, a good luck forcing asian countries to act against their own best interests. this is said that 21st century is asia essential, as the 2 largest economy of china. india and china is an issue. so of course, if india and china does not follow the g a, g, d 7 states, and they are continuing buying oil from russia. i don't think g 7 countries can do much about it though the blue one community should understand one thing that as a developing nation, india has a create in and she demands and our enough to security is our national interest. so any got it and it's a solvent country. so any countries usa, you gave g 7 states, they can not pressurized india to buy or to block our, like in our g demands or energy needs. russia has like other other markets as well . g 7 countries on the market for russia. and if russia still stop exporting google to those tea

prices below the cap and refrain from doing so for oil above the cap. there is an overwhelming economic incentive for buyers to purchase so they can engage these services. it will be cheaper and less risky to move russian oil cargoes with the surfaces. we are already seeing the price cap policy work with russia forest to seek discounts. to close i would like to express my gratitude for the additional resources that congress provided in the appropriations packages with helps us in the administration in the policy response. and to the people of ukraine. i would be happy to answer your questions and i look forward to working with you all in the future. enqueue. >> we will start with a five minute question. i will start with myself. we have had an impact, but it is not quite what we thought. in march, economists estimated contraction of the russian economy by 15% in 2022. the monetary fund showed moderate contraction of 6% this year. and the ruble has appreciated and rallied above its prewar value. there is clearly more work to do. it looks likely that russ

and belgium rebels against their price cap on russian gas. the import slamming the commissions proposal a cap on only russian gas is purely political. we will not agree to this. a from moscow to the world. this is our to international. i'm rachel blevins and here are the top stories that by then we begin with reports of 2 people killed and a wounded and recent shelling of done yet city. among the places that have been hit was a hospital near the city central and bank men, according to local authorities. a fire broke out on the roof of the medical center . firefighters arrived on the scene to put out the blaze, a public square, and the city center was also struck by the shelling booming several people. emergency services arrived to the scene to bring those injured to the hospital. they attack shattered windows and nearby stores and residential buildings. meanwhile, at the northern part of the front line, the russian army has airlifted, military hardware and personnel to the heart of the region where intense battles are going on with ukrainian

both of them will not agree to a price cap on russian gas. that's according to the countries energy minister who said that the proposals are purely political. our intention, 1st and foremost is to bring prices down a cap on only russian gas is purely political. i don't see the added value in that we will not agree to this european union. energy ministers are meeting today in prague where $70000.00 or so protesters came out against european energy sanctions and rising cost. just a few days ago. all focus is on the blocks, energy price and supply problem. earlier this week, european commission, president ursula vander line later, a plan for the block to make it through the winter now that it sanctioned so much of its own energy supply, that its reeking far more havoc on the e. u, than on russia. van der line called for a price cap on russian pipeline gas, to quote, cut russia's revenues, thinking that it would prevent russia from pursuing its objectives in the ukraine conflict. which should blow up in the use face about as well as its other vir

looking to introduce a price cap on russian gas.his comes as eu countries face a growing energy crisis as winter approaches. reporter: vladimir putin struck a defiant tone at the economic forum. he said any efforts to isolate his country were futile, stressing that moscow was now looking to the east and iran for new opportunities. not one to mince words, putin was a straight up about what he thought of the west's sanctions against his country. >> pressure is coping with economic, financial, and technological aggression of the west. i am talking about aggression, there is no other word for it. stock exchanges have stabilized. reporter: he said the sanctions were causing worldwide instability, and compromised european's quality of life. western governments began opposing -- imposing sanctions on russia after it invaded ukraine in february. since then, the eu has moved to cut its reliance on russian gas and oil, causing energy prices to soar. the situation deteriorated further at the beginning of september, when russia's gazprom said i

, looking to new to surprise cap and russian gas. this comes as you country's face growing energy crisis as winter approaches. with them go ideally newsletter may a potent struck a defiant tone at the economic form in vladivostok where he had you, he said, any efforts to isolate his country with futile stressing that moscow now was looking to the east and iran for new opportunities and not one to mince words, putin was straight up about what he thought of the westward sanctions against his country. and i fear russia is coping with the economic, financial, and technological aggression of the wesley's hughes. i'm talking about aggression. there's no the word for it. a little bit more in currency exchanges and stock exchanges. i've stabilized him as we are in the gracie that years with he said the sanctions were causing world wide instability and compromised europeans quality of life. economic crazy western governments began imposing sanctions on russia. after invaded ukraine in february. since then the european union has moved to cut i

also in the program as a g 7 leaders discuss a price cap on russian oil. the north stream, one gas pipeline, already suffering from a reduction of exports due to sanctions, has now just lost its last remaining turbine, potentially exacerbating the energy crisis and the e. u. micro chip manufacturers, stock price as plummet as washington blocks, certain tech exports, china, and russia. so i think that of a security risk with it's good to have your company on this saturday and a busy program line up for you here. we're not you international. welcome to it. we do start with the latest news from the conflict in ukraine, as we understand about 20 explosions are said to have occurred in the city of antarctica data. that is located next to europe's largest nuclear power plant reports coming in. se ukrainian troops have been thwarted in an attempt to enter areas right around the plot. hadn't zappa ology by boat. russian defense ministry has not yet commented on these claims. meanwhile, a team of experts from the international atomic energy agency inspecting the nu

the consumer cap is going on a _ businesses as well. the consumer cap is going on a lot longer.s — need certainty. they need visibility of what is going to happen down the line so— of what is going to happen down the line so that — of what is going to happen down the line so that they can plan, so that they can — line so that they can plan, so that they can budget, so that they can decide _ they can budget, so that they can decide what the best route forward is. ., ., ., ., , is. that definition of vulnerable businesses. — is. that definition of vulnerable businesses, likely _ is. that definition of vulnerable businesses, likely to _ is. that definition of vulnerable businesses, likely to be - is. that definition of vulnerable businesses, likely to be highlyl businesses, likely to be highly subjective. you know, if you were to talk to any business owner, they are going to give you different views on what defines a vulnerable business and what they can consider to be a point at which their business is in danger. on that six months, michelle, is that enough? yes, the government ar

a gas price cap and an oil price cap. while that appears to have slightly broader support is not entirely clear how that would work. so the g 7 might want that china and india aren't on board, and it is even clear that would be effective. so there has been quite a bit of volatility. and in part this volatility is due to what's happening, the c b. it isn't really as volatile as one would initially feed, given the lack of belief that it would really be that effective ah, shifting gears, not a pakistan with thousands of people, hit the streets and support of a former prime minister in ron con. he's a currently facing contempt of court charges. now, despite his statement that he will accept any decision of the court con, gave a very fiery speech calling on his fellow countrymen to rally behind him. oh, i'm announcing to all my party members in the country. get ready because there will be my final call which will change the destiny of our country. i have seen all pakistan. these are ready for that final protest call. are you g

the g 7 countries agreed to cap the prices of russian oil. the u plans to set a limit on moscow's gas prices. who's winning the energy back? also, this week europe's energy crisis deepens. as russia, titans it's choke hold on supplies, the ease says it's prepared to meet the challenge. should moscow turn off the gas taps? but is it an skyrocketing energy prices of squeezing people's incomes in rich and poor countries alike? when will global inflation peak or could the rising cost of living remain far too hot and all out energy war between russia and the west threatens to deepen europe's energy crisis. putting pressure on governments to make interventions in the energy market to rein in soaring prices. but it also puts the kremlin revenues at risk that has meant to stem the flow of funds into its war coffers. moscow's earnings from energy exports are expected to rise by 38 percent this year. western capital say they want to cut off that financial lifeline. the g 7 group, the u. s. japan, canada, germany, france, italy of the you. k, have agree

as a once more countries to enforce a price cap on russian oil. the u. s. is particularly pushing their measure on moscow's traditional allies, china and india, which recently increased that imports of russian fuel. our hope is the countries like china and india will join the price cap, coalition, or take advantage of the price cap coalition to lower the amount of money that russia makes from oil exports. making a new delhi however, don't seem to be interested in complying with washington's controversial policy. as, as russia and china recently signed a new trade deal for painful commodity supplies in their local currencies without using the us dollar. even some of the european countries that have complied with price caps have been skeptical about raising concerns that they can exacerbate the current energy crisis. let's discuss this further. now let's close last 2 i guess where they could decide it. director of the j political economy research group. many thanks for joining us on the program. it's lovely to see you. i'd like to ask it would china and india

that is not _ to be capping bills at £2500. that is not the — to be capping bills at £2500.to pay their bills and although this price _ able to pay their bills and although this price has been fixed, it is still— this price has been fixed, it is still out — this price has been fixed, it is still out of— this price has been fixed, it is still out of the realms of visibility for many people struggling financially. let's get some of that _ struggling financially. let's get some of that viewers _ struggling financially. let's get l some of that viewers questions. struggling financially. let's get - some of that viewers questions. has anything, this is from steve in swansea, has anything been said about a cap on energy prices for buildings run by charities? for example our local scout hall. what is the helpful institutions apart from businesses? this is the helpful institutions apart from businesses?— from businesses? this was an announcement _ from businesses? this was an announcement that _ from businesses? this was an announcement that was - from businesses? this was an announ

the eu is proposing a price cap on russian gas. commission president ursula von der lion we aim at lowering the cost of gas. and therefore, we will propose a price cap on russian gas. of course the objective here is very clear. we all know that our sanctions are deeply grinding into the russian economy with a heavy negative impact but putin is partially buffering through revenues so here the objective is we must cut russia's revenues that putin uses to finance his atrocious war in ukraine. for more on this we can speak to fernando valley, a senior analyst on oil and gas at bloomberg intelligence, who joins me from new york. great to get you on the programme. really interesting what we are hearing from ursula von der leyen, don't you think? the fact that they are proposing a way to dress this, this price cap on russian gas, how would this work in reality and would it achieve the goal of lowering prices? it achieve the goal of lowering rices? , ., ., it achieve the goal of lowering rices? , ., , prices? great to be here. it is diffic

what happened to this whole price cap idea being about denying putin revenues? now these politicians are basically admitting that it's just about saving themselves from the mess that they've made of their formerly free market by considering it for all countries. now the eas sanctions policy has been a bit like when you try to cut your own hair, you know, you give it a 1st shot. it comes a little bit crooked out, you realize you messed up. so you cut it the other way. it's still crooked. it's even worse, it's getting shorter and sure you cut more and more, some point, maybe you realize that what you really should have done is just stop and think before doing any more damage. let's just say that wagner, lion seems to be finding it hard to put down those scissors. some germans aren't happy about the proposed e. you priced cap i the i discussed the control was the with german opposition. politician ralph name a, who's the, the u. s. is trying to use berlin against its own european allies. well, i think germany is not suffering enough to stand up against the american

the puffs owner says he won't so dear to anyone observant the cap. so other patrons who drink a lot, they are say they are enjoying the cap success. russia has explicitly stated not once but twice, just in the past week that it will not so oil to countries which support such a price cap, shoot me, shoot. personally, we will not supply anything to it if it is country to our interest. in this case, economic interests you no gosh, no coil shoe and you know, co, no fuel, nothing. and contrary to what some in the west may believe, russia seems to have a choice because for price caps to actually work the g 7 would need significant global support. especially given that over 2 thirds of the world's countries have refused to condemn russia's military operation in ukraine or imposed any sanctions on moscow. and despite the u. s. optimism on getting china and india on board. they remain 2 of russia's biggest clients, while china and indonesia have already vetoed the idea. in february, the west swiftly shifted its focus from 10 years of sanctioning aidan to russ

a lot of the mega caps got to be mega caps because they managed through turbulent times through multipleles. >> now, i mentioned before and i had tweeted out yesterday, we had run screens with regard to many of the mega cap and blue chip if you will well known technology media-type names that are sitting at or very near 52-week lows at the very least at this stage. is it maybe okay to start dipping your toe into buying some of these names, or could we see even more downside ahead given the rate outlook for the fed? >> look. i think right now it's a gain with the mega caps of relative performance, and i think i came on cnbc a couple of months ago and i told you, you know, we're only halfway through this bear market we had a huge rally in the summer, but typically they last 700, 800 days. back to november last year, we're only part the way through this effort. i think the difficult thing is to take all of these other noisy companies out of the market and allow the ones that are going to make it through to become good investments again. i wouldn't suggest people start buying blindly after a

and that comes at a time of g. 7. lead is discussing an oil price cap. it doesn't seem that the winter is going to be particularly warm. no, no the the, as they say at the you from ism, the elephant in the room is the fact that there is a perfectly functioning brand new pipeline ready to go north stream too. and this for some reason is not mentioned. it's completely being hidden. this is not discussed, but it was up to during the top years, the trump $11.00 to $2.00 block this pipeline because he was trying to so liquefied natural gas to europe, which of course they've tried to to get but it's very complicated. they don't have the gas to as to who handle it the they have to build it. that takes years to the infrastructure is not ready. so you know, they could, if there were political will to resolve the situation. we could start northridge to, but the americans would of course, object and the greens would object. so really, we need an ideological re perhaps we need politicians are thinking the best interest of the, of the taxpayers on joy of the people.

and austrian, so vakio a very much against a gas price cap and an oil price cap. while that a piece have slightly broader support is not entirely clear how that would work. so the g 7 might want that china and india aren't on board, and it is even clear that would be effective. so there has been quite a bit of volatility. and in partners volatility is due to what's happened, the c b. it isn't really as volatile as one would initially of the files of able to the street in support of former prime as the enron gone, who is currently facing contempt of court charges. despite his statement that he will accept a decision of the court con, gave a fiery speech calling his fellow countryman to rally behind him. oh, i'm announcing to all my party members in the country get ready because there will be my final call, which will change the destiny of our country. i have seen all pakistan. these are ready for that final protest call. are you good? you're on walla. patterson has been in a say to fiddle servants for months. as the pulpit of prime minister was removed from power t

of g $7.00 has already agreed on a price cap. and they want to shave off a revenues for russian estate, the oil companies. and so that the debbie no gains from this war any more for mister putin. on the other hand, this, the danger of course is that doing this is the supply of oil for the volt market would go down and that, that could heighten price is actually on the other side again. so the g 7 is now looking for other customers of russia to join them to have this prize cap and to push the revenues of russia down. it's more a political measure. it's not a direct impact on the price is worldwide actually. okay, well obviously a lot of elements to debate. there are any concrete proposals coming out of the meeting so far. well, no concrete proposals, but the minister have to agree or how to deal with public finances and fiscal policies. there must be a solution that cannot push it, or could, could kick the can down the road. so they have to come up with a. this is a rule how to get rid of public debt in the euro zone in order to a

there is a new cap on insulin and overall cap on how much seniors on medicare candy o to spin for the prescription drugs plus yesterday was a the government announced the medicare out-of-pocket premiums and deductibles for next year for 20233 and they are going don for the first time in more than a decade and that's for comfortp good reasons we get into that is really nothing do with anything the administration did or didn't do or at least not directly. that was also good news to the president decided to take a swipe at republicans who have proposed taking a more stringent budget look at medicare and social security if they win control of one or more houses of congress. >> host: those comments and that recent news gives a chance to look at medicare and social security. how would you describe those programs now? >> guest: they are little bit different shape. medicare has problems because of the cost of healthcare. continued of cost and healthcare. the last couple of years have been pretty bumpy because of the pandemic, , because of hospital finances, because of people using less care a

this is a cap on the unit price of energy, not an overall cap, as the prime minister said yesterday.sage, but my understanding will be that because usage goes up in winter and the actual cost of energy is going up the actual cost of energy is going up around twice what it was last year, that means the cost is going up year, that means the cost is going up and i would say if that customer is looking at their bill and thinks it doesn�*t reflect their usage or there is something wrong, get in touch with british gas and speak to them and you can query the bill. if you can�*t afford it you might be able to negotiate a payment plan thatis able to negotiate a payment plan that is more affordable to you. this is from david _ that is more affordable to you. this is from david finnan. it's a similar is from david finnan. it�*s a similar theme, jo will stop people think they will not pay more than £2500 for their gas and electricity. this is wrong. please explain, this is a cap on unit price, if you use more then you will pay more. people don�*t understand, says david, and it bears repetition t

shelans to cap energy bills at around 2500 pounds. me bring you the first exchange between sir keir starmer and liz truss. >> she knows she has no choice but to back an energy price agreement, but it will be cheap. the real choice, the political choice, is who will pay. is that she really telling us that she will leave these vast excess profits on the table and make people foot the bill for decades to come? >> i understand that people across our country are struggling with the cost of living. they are struggling with energy bills. that's why i, as prime minister, will take immediate action to help with the cost of their energy bills. i will be making an announcement to this house on that tomorrow. >> liz truss plans to fund the cut by borrowing more money. labor has suggested a windfall tax so the profits of energy companies. this was another exchange. >> more is needed. this is the true cost of her choice to protect gas profits, isn't it? >> mr. speaker, the reality is that this country will not be able to tax its way to grace. of wa