visiting flooded areas, lydia peters said the government had increased the annual budget of the companyllion euros but, she emphasized, it is still necessary for all noses to point to the wind, burying the problem under weighty dossiers ; apparently, the government does not intend to solve it, writes a local media journalist. the problem cannot be solved in one, two, three, argued in their defense all the executives involved, from lydia peters to dzuhaldamir, who put on tall boots in an attempt to answer critics, not in one, two, three, no, within a reasonable period of time, namely for almost 15 years. it was like confirmation of powerlessness, so only the ministers are not powerless, certainly not three flemish governments in a row. the mayor of the city of afligem said that in recent days the streets of his city could only be moved by boats; residents of many houses were moved, for example, to a gym or to crisis centers so that they could take a shower there. in vahlegem, every fifth house is now built in a potential flood zone. the fact that the government is so easily issuing licen

lydia, thank you very much. >> you got it. charles: we bring in university of maryland economist peter morici.t's start with that, fed, fmoc, interest rates, everyone that influences yields these days as well? >> yeah the important thing to remember it is stability in interest rates that matter. before the global financial crisis, if you take the 40 years prior, the treasury rate averaged about 7.4%, but inflation, you know was significant. so that the real rate was about you know, three. my feeling is the treasury rate at 10% right now, sustaining that would be a good thing for the market and a good thing for the economy. you figure 2% for inflation. if you hit your target rate. 2% equals the real rate of growth in the economy that is the social return on capital. it should be a good equalibrium rate. my feeling is the market wants stability much more than it wants rate cuts for the long term. and i think that would be better if the fed just went fly fishing to be honest and just took a vacation. charles: all right. sort of like how people feel with congress too. while they're fly fishing may

lydia, thank you very much. look at today's jobs number on your screen, 216,000 new jobs added to the economy. 3.7%, that is a low unemployment rate. peterat is a strong report. that is a strong economy. are you going to give me an argument on that? >> not at all, no. i mean, we've been hearing a little bit about jolts coming down a bit, but the job openings still well exceed what was out there the before covid. there still is a worker shortage. the job market might not be as strong is as it was six months ago. it's not red hot, but it's hot new. and i don't think that boar -- that we're going to see wage pressures go away because of this. this notion of all of a sudden it's a buyer's market i think is a bit delusional. if you ask individual businesses how's your business, they say, pretty good. if you ask pep if city how it is, i'm going to rise my prices. if you ask them about the macro economy, they're too busy reading economists who are at universities and in wall street and so forth who are using models based on pre-covid times and saying, oh, the world is coming to an end. it is not coming to an end. it's just slowing down a little