defense spending up to $80 billion a year and we cut taxes scott mcnealy, i've seen him around, he wastioning that the tax cut is great, and if you cut taxes but you don't cut spending, that's a classic -- the currency will probably go down >> it's all late cycle >> ininflation we act like it's never coming back we may not see it now in everything we do, but it's -- >> it's creeping in. it's a creep up, not leap up >> you have a lot of these this is good this is good so even people come and go at pimco but you still come up with these -- >> phrases >> creep up -- >> different words, catchy things >> progress, not protests i heard. >> for more on this selloff and what's happening with markets, let's bring in mike santoli. good morning >> good morning. you guys have been setting the context very well. it makes sense when we talk about this really intense concentrated bout of selling that we've seen this week t makes sense to go back to where it all got started and what has been accomplished by this sell juf and correoff an the starting point in late january was an overstretched level for

hall of famer ernie els is an investor and scott mcnealy acts as an adviser. >> the digital natives,he kid that's grew up with the mobile environment aren't going to give it up for five hours on a golf course. so this is a -- this is a natural and a no brainer, everything you need for golf could be managed here. >> it is like one-stop shopping. at pebble beach, colin resch, nbc bay area news. >> very cool. before we leave you, we have the video into the newsroom. get -- guess who is in town. president barack obama. he is there to speak at a conference but we think he'll play and be on the golf course. thank you for joining us. >> we'll see you at 11:00. >>> reese witherspoon revealing the real inspiration behind making "big little lies," her own abusive relationship. >> it was profound and i was young. >> her new interview with oprah about a dangerous ex and how she broke free. >>> matt lauer's wife flees the country where she was just spotted. is she still wearing her wedding ring? >>> sarah jessica parker and kim cattrall burying the hatchet? >> why sjp just extended an olive branc