do groware smart, they the economy. in order to pay for themselves, a tax cut of one dollar would have to generate five dollars to six dollars of economic growth. what i hope we can do is move into the realm of reality and think about what reasonable growth and build that into what we are talking about i. on this program and making the point that the cost would be paid for through larger economic growth. here is what he had to say when we talked about your estimate about the cost of this republican tax plan. [video clip] thene analysis from bipartisan committee for a responsible budget said the initial analysis said the plan would add $2.2 trillion to deficits over the next decade. >> a couple things. when you talk about cost, it tells you what a politician or a group that called themselves bipartisan -- it means left, talks about the cost. when we have our taxes cut, most americans view that as a pay increase. it's not a cost. based in people washington, d.c. that think all the money should come in here and if they don'

it is the consumer that drives the economy. consumer spending is the effect that the cause of prosperity. the cause of prosperity and innovation. its capital investment. it is the supply chain. it is kind of a supply side. we were own statistic now. gdp is more on demand. the supply chain it turns out the business spending as a percentage of gross output is 60% of the economy. that business spending is the elephant in the room. consumer spending is 30% of the economy not 70% they measure spending all activity not just a final output. i hope that's pretty clear. they get it just like that. the economist they are a little slow. but they are finally getting it. in a sentence or two what does that supply-siders believe. what does that supply-siders believe. they believe that the key to prosperity is innovation entrepreneurship savings with the frugality. quoted him 70 --dash several times. there is three virtues that if you adopt these you can be successful in life personally as a family as a business and as a nation those three pri

in the consumer drives the economy but i argued all along it is business the drives the economy. consumer spending is the effect, not the cause of prosperity. because of prosperity is innovation, entrepreneurship, capital investments, the supply chain. we have our own statistic as a supply side or, gdp is more demand, speak her, government demand and business demand but the supply chain, turns out business spending as a percentage of gross output is 60% of the economy. i argue based on my work and structure of production that business spending is the elephant in the room. consumer spending is 30% of the economy, not 70%. growth output, all activity, not just final output, i hope it is pretty clear. my students get it especially business students when i say topline bottom line, they get a just like that. the economist a little slow but they are finally getting it. >> host: in a sentence or 2 what is the supply side of believe? >> guest: the supply side or believes the key to prosperity is innovation, entrepreneurs a bishop, savings, frugality. i actually think ben franklin said it

as the uk economy has done overall since the referendum last year and what it shows is the underlyingntal strength of this economy. a little bit of autumnal sunshine fell on the economy today and the chancellor is certainly in a better mood but at the treasury they don't quite believe it's time to hang out the bunting. that brexit risk is still there and productivity a continuing problem. that's our ability to create wealth which leads to wage rises. for people like sadie and cindy who live near leeds the household economy is still stretched. working for the public sector we haven't had a real pay rise for years. i mean, it's been capped, hasn't it? so, no. that to me, yes, if i could say i was going to get a decent pay rise, maybe something above inflation, then that would help. there's hard working people out there that if anything need recognition. yeah, that pat on the back and that pay rise to say you are doing a good job. these are the kind of people that labour wants to speak to, arguing that the present government is not delivering. 0ecd, imf, the 0br, all those independent fo

if your goal is to grow the economy you want to offset the costs. the problem and it'san understandable because politically nobody's willing to talk about hard think cmo and that's a big frustration because fiscal responsibility and falls paying for things but politically nobody has said howt they will pay for this. when we look at basic numbers -- >> host: all i would be paid for through higher economic growth over -- >> guest: to put it mildly the numbers are talked about are nonsense. people are putting out growth estimates that are pulled from the sky. we would all like to have massive amounts of growth part of the purpose of tax or is you grow the economy but if you look at all the past taxi from everton what we've seen from how much different tax reforms are likely to growow the economy the numbers that are being tossed around in the political discussion are multiples of what's realistic. that's because people are unwilling to say what we would do to offset the cost. i should simplify this. tax reform, tax cuts do not pay for themselves. if th

view of the economy in the old world was that the economy is generally closed. meaning not open to trade. and that the amount of capital in the economy is relatively fixed. and so if you're taxing capital, then if you own it, you know, you bear the brunt of that tax. but other than that, it doesn't really matter because it's just kind i've fixed thing. well, that's actually not how the economy works today. today the economy is much more open than it was 30, 40, 50 years ago and there isn't a limited supply of capital in the united states. there's kind of an infinite amount of capital, not literally but we do know when business opportunities are good in one country whether it be arld or malaysia or the netherlands or france or germany or wherever or mexico or canada, people take their money and go to that place. they build factories there. they hire workers there. that's not the united states today. and so the principle behind corporate tax reform, why it's important is because it will bring activity here. and is the first thing. the second thing is, it will bring

the right decisions. as far as adjustments and its economy, adjustments in the government and regulation of the economy. hereas argentina went to an extreme and was not able to pick itself up and succeed after that in the way it had started out. it is interesting as you say also that the british played i think, and equally important role in both countries development. providing financing, providing capital and expertise. but it was the americans that such that and sort of ran with it and master it themselves and they can industrialize all the argentinians were in essence resting and staying agricultural state primarily. so that is a fascinating chapter and i guess, it helps to really define as you lay it out, what you are given and what you start with and what you can make of it as a country and as an economy. i thought also your discussion of the egyptians and how they were at one time the breadbasket of the world. i think that is eye-opening. the breadbasket of the ancient world of course, the romans depended on them for bread. but then of course today they are unable to feed 80 million people because

that broadening of the agenda puts must focus on the economy. ould say that is a good thing, we will see less damage to the environment. i think that reduced focus on the economy means we will see slower growth in the years ahead. rishaad: do stick around with us if you want. julian will stay with us and talk more about that congress as it wraps up, and we got that standing committee rolled out later tonight. this is bloomberg. ♪ rishaad: back with our chat with julian. no doubt this party congress will be seen as a wild success for xi jinping. you seem distinctly underwhelmed by it all, though. julian: certainly there are lots of people who have come out awfully optimistic. that reflects that we will see much faster reform implementation. i think there is a lot of truth, we will see faster and limitation of xi's current agenda after the party congress. xi's currenthat agenda only deals with the symptoms ounderlying problems. it deals with the debt burden, the overcapacity, rather than the underlying cause of these issues, which is the state invo

in the first half of this year, the economy grew by 6.9%. is above the 6.5% government target, and the ruling party are keen to make sure that robust growth continues. when you couple that with population growth of 0.5%, it means living standards are on the rise. and that good for the communist party, because it helps ensure political stability. however, there are problems. debt is one of the biggest. it is estimated to be more than 2.5 times the size of the entire economy. part of that has been driven by a huge boom in property prices. however, the latest numbers show that slowing in august, when the average increase for new homes in 70 major cities wasjust 0.2%. will the idea of boosting the economy has also seen repeated pledges to open up to foreign investors. last year, foreign direct investment was down 1%, at $134 billion. joining us now from beijing is our correspondent robin brant. of course, the economic policies they talk about that, fundamental to it all is the progress of the economy. yes, growth continues in the world's second

didn't we have crazy ups and downs in the economy before the fed? ok, we did have the great depression. far worse than anything that occurred in the 19th century, but there is a twofold response to this i have a section in meltdown that deals with the ups and downs before the fed. one is arguing where the apparent extremities of the economic swings of the 1990's as opposed to the stability of the post-world war two. period is an artifact. i will grant you it is not a federal reserve system. you got me there. everything else is there. , firste national banks national bank, second national again, you have a boom created by excessive money creation that could not have occurred and a free market. you have a government intervening to bail out the banks. the banks know the government will bail them out like this, so you think this might make them become a little riskier? incidentally, it is true that the community reinvestment act and these other things did require and encouraged the banks to lower their standards of credit worthiness, but we should remem

now, this information economy and the international economy that we have. as you pointed out numerous times, people can leave and go to ireland and find a talent pool there that allows them microsoft or a lot of our tech companies to go there, that's what we're competing with. what kind of new thinking maybe gets past some of the same partisan language that has kind of been renewed. i thought we had all sort of agreed our corporate rate was too high. now we're kind of seeing that reversion on the partisan front to same old tired critiques. what kind of new thinking can we do with this new economy so that we can get past some of those partisan divides. if you could just kind of follow up on some of the bright spots, but also that we can't really thrive and have 3-4% growth if we stick with those old models. >> i think there's so much that the members of this committee agree about, the fact that there's a disconnect between profits and wages, the fact that we've got the highest statutory rate on earth but there's a whole bunch of companies that don't

and newer parts of the economy and newer parts of the economy and newer parts of the economy and morets of the economy? there has been a huge amount of talk about corruption. now, corruption like apple pie and motherhood is something, i suppose they are against it, unlike apple pie, but we are against it, but on the other hand,it are against it, but on the other hand, it has really upset the apple ca rt hand, it has really upset the apple cart ina hand, it has really upset the apple cart in a way in china. it has been an upsetter for foreign businesses doing business there? yes, it has. but there is a sense as well that, corruption has always been imbued in modern chinese politics when it comes to the communist party. many people joined the party to get ahead, through connections or through more corrupt practises. by the time xijinping through more corrupt practises. by the time xi jinping came to power, there was a sense that things had got out of control and poisoned the party and began to delegitimise it. the communist party rules because it says we are above everybody else that gi

and what it shows is the underlying fundamental strength of this economy. forced to clarify remarks from david davis on when parliament will vote on leaving the eu. energy costs are too high and households aren't benefiting from falling wholesale prices — a government commissioned review has found. fats domino — one of the most influential rock and roll performers of the 1950s and 60s — has died aged 89. and on newsnight, as it heads into the busy winter season the nhs is already operating at full pelt without any slack so how will it called for the next few months? we have an inside look at queen elizabeth hospital birmingham to see just how stretched things are. good evening and welcome to bbc news. the uk economy grew slightly faster than expected in the three months to september, raising the prospect of a rise in interest rates as early as next week. an initial assessment by the office for national statistics, suggests the level of gdp, or the total amount of goods and services produced in the uk, rose by 0.4%, with strong performances in the services a

the economy isn't working the way it should for american families. now i agree with that assessment. we need to do more to grow the economy, create jobs, raise wages, put money in the pockets of average americans. but when you hear the details of the plan they have to solve those problems, your head spins. lower the tax rate on big corporations in the top 1%, repeal the estate tax which only goes to estates of over $5 million, and eliminate critical middle-class tax breaks like state and local deductibility. in what world does that deliver middle-class tax relief or solve the problems we're talking about? it's the same game they played with health care. complain about high premiums, deductibles, counties without enough insurers, and then each republican bill exacerbates the problem. the republicans slide in their favorite solution -- tax cuts for the rich -- as the answer to every ill. if the economy is doing well, republicans push tax cuts for the rich. if the economy is doing poorly, republicans push for tax cuts for the rich. if our health care sy

they gain what the economy gains. they gain when companies get better. they gain in lots of different ways. but so many people have come up to me and said give it to the middle class. give it to people that night and want to spend it. bob kraft, owns the new england patriots. good guy. he does a great job. he was at the white house recently and gave me a super bowl ring. i was very honored. and as he's leaving the white house, he said, donald, i know you are very soon going to be doing tax reform and tax cuts. give it to the middle class, don't gift to us. give it to the middle class. that's what we are trying so hard to do. and you will see how good this is. so important. it is so important. the second plank of our tax framework is to make the tax code simple. americans waste tens of millions of hours and dollars on excruciating paperwork. and you have no idea what you are doing anyway. and compliance every single year, massive numbers of paper. under our framework the vast majority of families will be able to file their tax on a single sheet of paper th

what's happening in the u.s. economy is, you know, a number of companies in the stock market is about 50% since 2007. 50%. the number of shares has dropped 50%. the so-called stock market boom is a product of stock market massive shrank, and i think that a key problem is the lack of any global money that is increasing by naturalization of the economy. almost -- finance. almost 30% of corporate profit is now finance from this massive $5.1 trillion a day of currency trading. >> host: how does one by a car with a bitcoin? >> guest: one can buy a car with a bitcoin. you, i'm sure lots of cars have been by bitcoin, but i don't know which am i think maybe you can buy a tesla with bitcoin. some companies have announced that they will sell, but you can convert your bitcoin which a been appreciating recently to dollars. that might be a good thing to do and purchase a car with them. >> host: could anyone by bitcoin if they have the resources? >> guest: anyone can. >> host: how many dollars would it take to buy a bitcoin today? >>

the average rate in low tax copies i highser. thus economy has made great progress during the past years in reducing reducing the joblest the rate of productivity great hasline slow. it's time for all of news bipartisan way to boost the rate of growth and wage growth in particular. as i discussed the administration's plan for tax reform will have an important role in improving the rate of productivity growth in combination with the plan to stabilize the regulatory environment and we rook forward to working with you, the members of the committee to help reach the goals. i'll be happy to respond to questions. >> thank you. as i mentioned in my testimony and showing in the graph over the past decade the cbo has continually downgrade an estimate of what the economy is capable of producing, our output potential. is it possible in your opinion that the obama era policies of higher taxes and heavier regulation actually cosntrained our economic potential and how can we changed that? >> i think on the regulation it is certainly possible. i think your

i'm happy to report that the economy is doing well so far in 2017. real gpds growth during the first two quarters of the year averaged 2.1% at an annual rate, real consumer spending grew at 2.6%. slitly below the 2.9% of the two preceding years. a note acceleration from an essentially flat pace during the preceding two years. that's very important because after translating this pattern of investment into the flow of capital services, it's apparent that capital deepening, the flow of capital services per hour worked has made essentially no contribution to the growth of labor productivity in recent years. in contrast, to a post world war ii average of .8% an point per year if you look at the deepening over the last two years it became negative for the first theiss time since the second warld wore. i'll discuss in a moment this administration thinks tax policy could play a role if in reviving the investment in capital services and activity growth and real wages. investment grew -- a low and steady rate of core inflation is notable. core cbi inflation exc

but what happened as a result, the economy soared in the mid to late '60s, as did the stock market. so, jfk proves when we cut taxes, we incentivize people and put money in their pockets and empower them. great things happen and prosperity is lifted for all. particularly the middle class. liz: let's not forget at that reagan was irish and handsome, too. >> the evidence is there in the chart, but i will say this in response to steve, that, of course, you were cutting from a much higher level of taxation than we have today and even as we consider it high taxation at 39% for an individual. people would say, my god, that was 70%. so that's a big difference. but, here is the thing. the package that's on the table right now, does it put money in the middle class, man and woman's pocket? and i think that's the problem democrats are going to have. everyone on this panel will say democrats always say, this is going to benefit the rich. but actually, this package does benefit the rich and i think that democrats are going to have to push against president trump and say, you've got to do less f

this is better news for the economy. it in perspective, growth is still likely to be lower than last year, but next week, the bank of england's monetary policy committee makes a big decision on whether to raise interest rates for the first time ina raise interest rates for the first time in a decade. and this better economic news, coupled with a higher rate of inflation that we have in britain at the moment, 3%, interest rates are seen as one britain at the moment, 3%, interest rates are seen 3s one of britain at the moment, 3%, interest rates are seen as one of the main tools were controlling inflation, i think will mean that the hocks on the monetary policy committee, the people who feel the interest rate rise should be put in place, people feel emboldened. i came here and let the chancellor. he said he wants to put more money into scientific research, particularly for the health service. certainly, the chancellor will take the number todayis chancellor will take the number today is a good number, showing that the econo

talking about the economy and environment, what about human rights, the issues of tibet?n the last five years, you can hardly hear it. the european union hardly squeaks about human rights anymore, certainly the british don't. you don't get much on tibet either because whenever anyone raises these issues, china turns round and says do you want to do business or not? you do it on our terms. there is going to be a real challenge to western values, not just going to be a real challenge to western values, notjust in china, but here. how strongly do we defend our values in these circumstances? how do we insist? are our values universe at —— universal order we put them in our pockets to do a business deal. it all comes down to economic ‘s? business deal. it all comes down to economic 's? yes, you do get a sense they are very much looking at what led to the dissolution of the soviet union, what followed and they are keen to avoid the mistakes that were made whereby the economy was beholden ina made whereby the economy was beholden in a rush to the oligarchs, corruption followed a

change the russian economy. and i know a lot of people who are looking for a creative way. to get. here's what people have been saying about reject. the only show i go out of my way to. really. john oliver of are to america. we are apparently better than. the c. . heard of. president of the world bank very. seriously send us an e-mail. protest over the future of catalonia is the spanish region is left in limbo decision to impose direct rule. exclusive access to the syrian town of freed from islamic state by government forces. also a document released under the freedom of information act reveals the pentagon simulated the middle east style war game invasion of west africa.

devastating ecosystems putting a price on the protection of nature green economy is sound good but it was all about privatizing of nature should our environment be for sale what we're trying to do this destroyed people to stabilize the country given a financial incentive to do that pricing the planet at this time on al-jazeera. oh you're watching algis their arms the whole robin these are all top stories police in kenya have fired tear gas at opposition supporters protesting election.

the chinese economy is important for the world economy. ue of italy mostly maybe more than spain. the catalonian crisis may have an impact on the spanish economy. so, southern europe is recovering, but not in great shape. italy in particular. i think there is the greatest risk >> thank you very much for that perspective. appreciate it. clemens fuest. >>> staying in germany, three top investors have called for the ceo of kostin kenigna. a supervisory board meeting is set for thursday, but members say they will wait until the investigation is complete before deciding on his future >>> let's get back to the earnings parade. norsk hydro reported earnings below forecast the stock 1.8% to the down side. the aluminum maker came in expectations of 2.56 billion it lifted its global demand estimate and expects positive market sentiment for aluminum mainly because of chinese production cuts. joining us on the phone is the cfo of norsk hydro looking at the share price reaction, investors are disappointed how do you feel about the numbers? >> i think we

mainly on the british economy but also on the rest of the economy. d be the changes in the financial sector. the financial sector will be very different. it will also be a lost less. thanks will move as part of their business models. sensing processes, it will be supervision. it will be a big change to the way we do finance in europe right now. >> one of the alternative locations? visitorsving lots of who come to talk to me about that. banks concentrating on dublin and frank for. other cities will also get certain relocations but the core of the international banks, which are repositioning part of their businesses, would go to dublin and fractured. no one single city would get all the business. more importantly, risk would be shared amongst europeans. that is just fine to me. reporter: the rest of the economy is real as well. some people saying growth is solid. when you take a look at inflation it is all most nonexistent. very very weak. what is your take on the eurozone economy right now and where is it headed? of subsequent growth in the euro code -

ministers say the economy is growing and it will be ok in the end, yet those worries about the economyy and now the cost of living is spiking just as the chancellor is looking for ways in his budget to ease the pressure on himself and the government. the chancellor has run out of spare money and where brexit is concerned, the government is running out of time. john pienaar, our deputy political editor at westminster. in syria, militia backed by the us say they have recaptured the entire city of raqqa in syria — the self—styled capital of so—called islamic state. an alliance of kurdish and arab fighters have battled for more than four months to retake control of the city, which was seized by is in 2014. two years ago, is controlled a large area across iraq and syria, but now they only hold a handful of towns on the syrian—iraqi border. 0ur middle east correspondent quentin sommerville has the latest. at the heart of raqqa, they're giddy with victory. the syrian democratic forces controlled the city that the so—called islamic state hailed as its capital. three years ago, is did victory l

in total demand in the economy and that's why it crashed so forget about quantitative easing that really wanted to billions of buttons with the money which will get all different it's a good effect when you borrow money you're doing the kind of volume would germany not so much that i mean credits credit is a normal part of a well functioning capitalist economy but one of the dangers is you we tend to borrow money during a boom and we have to reply during a slump what it means is the amount of money and the debt you commit yourself to is based on a set of expectations about mit in the future you have less money to refinance that debt with and then when you reach that downturn you stop you have to have a device that we decline in demand we had the full vice chair of its everybody in the suite who echoed to raise a million supporters who are in this it at least saying that accompanying this kind of policy as being the free trade to free market economy being the greatest agent of collective human progress of a created something we can at least will agree about yes in the sense that what the

that if there is russia really strong at home at the moment well it's improving it's improving the economy if you look at the results of the bus decades if you look what has happened was the in the machines the beginning of this century it's improved a lot it's improvement on terms of g.d.p. for industrial agriculture in different areas on the new technology we are progressing so. just from well i know that the russian budget has long been your specialty and just a few weeks ago the government presented the draft of the next three year budget to the parliament already branding it as a plan for development. i know that as a government official you have to put a positive spin on it but as an economist and they're pretty good economists many people believe that the one of the best in russia what exactly in the budget support stabbed developments framing well first of all of the budget that was recently submitted to parliament shows that the economy has fully adjusted to a low level of food prices because you know you can come the soviet union in the mid eighty's when you would soon because th

ation that a lot of tweets about that as well where would you say the economy is right now. i would say i mean. they invention is there but execution has been a problem because of the fact that we are doing twenty. also in different sectors that have been just going through trading in one area once they're batted back and we are. doing too many things i mean we're trying to advance on the economy rather than requiring it but part of plan b. monetary relief. was done with economic i'm. a bit put it because i'm going to bring it in and it had its benefits in the form of it led to the big. increase in use a ball for for example when big industry in india had been prominent there were a lot of people who want one or four making their money on a transaction so now i'm on a back seat we're right at the end of the show the state of india economy how would you finish that sentence the state of going in you know i mean is in transition right now the next three four months or six months we're going to see something better and hopefully we could not be right i did six months to get bett

and what it shows is the underlying fundamental strength of this economy. stronger growth and higher inflation mean the bank of england could raise interest rates as early as next week. also tonight... mixed messages from the government on whether parliament will get a vote on a brexit deal before britain leaves the european union. in kenya, opposition supporters reject the decision, to rerun the country's presidential election tomorrow, claiming it'll be rigged. helping families in blackpool and other seaside towns, where life chances are some of the worst in the uk. # ifound my thrill. # on blueberry hill. and a pioneer of rock and roll, fats domino, has died. he was 89. and coming up on sportsday on bbc news, a new managerial appointment in the premier league tonight as claude puel is appointed as the new manager of leicester city. good evening. the uk economy grew slightly faster than expected in the three months to september, raising the prospect of a rise in interest rates as early as next week. an initial assessment by the office for national statisti

that will be a boom to the economy. at 15 5 trillion that the senate budget allows revenue to be lower, we do not believe that they actual deficit impact will be of this size. it is easier to project spending in the 10 year budget window then taxes. tax revenue fluctuates with the economy. when you're a economy is growing, you will have more revenue. host: we have a bunch of colors -- callers. stan: it is also the committee for responsible federal budget. the urban institute on taxation is saying that it will reduce revenue by a substantial amount. any of the talk about this feedback is almost economic fantasy as opposed to reality. host: here is gloria on the republican line. caller: good morning. i am concerned about the proposed tax cuts. am i connected? host: you are on the air. caller: the corporate taxes, they are paying -- although -- i don't know why we need to cut the middle off but most of them are only paying about 17%. the -- romina: the reason we need to cut the marginal rate, big corporations can afford law

well the economy compared to when. justice said they've came to power twelve years ago there's been some improvement that pleased when she came to power twelve years ago the total unlike u.t.p. was about five friend half a billion dollars it's now more than two billion dollars ok but there's still more to be done in all of that increase in g.d.p. it's not reflected in on the lives of the ordinary liberian like you said you thought employment is quite high it's about eighty five ninety percent and the youth culture to top by sixty percent of the population because on power cuts you know on their corruption so they say long way to go alone which is go for know for all of the new incoming government has its wake order you can be president how to keep its work cut out to improve the economy and it's in on that this time that sort of people and of course jason the other thing that hit the country was the tragedy of abode the human cost of almost five thousand lives but an economic cost as well i guess that set the country b

five years ago, there was this goal of doubling the size of the chinese economy. e around, and i think he is facing the challenges now. not only trying to revive the state—owned enterprises, but how does he manage the private sector? become a bit of a critical force, because the private sector become a bit of a political force, because the private sector is so much more productive and they're contributing to economic growth. we have seen this crackdown on some wealthy tycoons, and the government — the chinese government has demanded a stake in some of china's biggest technology companies and a role in decision—making, which is a great grab by president xi for china's future. so, broadly speaking, he needs to move china away from this model of low—wage, export—oriented state investment growth model to one of its more reliant on domestic consumption, and that will require higher wages. how does he do that? that his main challenge going ahead. and how does he do that when he is the all—powerful emperor? you are absolutely right and i think the two are closely connecte

in case you're new to the game this is how it works in our economy is built around core. perforation washington the washington post media the media. business to run this country business. it's not business as usual it's business like it's never been done before. here's what people have been saying about redacted in the night. along. with the only show i go out of my way to launch you know what is the really packed a punch in the john oliver of r t america is doing the same we are apparently better than two thousand and six and see people you never heard of love redacted tonight the president of the world bank hate to write a seriously send us an e-mail. but also dead to the ship. it was suggested. and a fairly strong one there were two thousand. volt in the study it's a very extensive study done by a well respected scientist. do chemicals that down the advertising. really increase the risk of cancer means i'm known to use them in the launch of a sham skepticism they do not believe that this is true by independent scientists so did the industry. i received some compensation

for the first time since 2010, the u.s. economy lost jobs. most of the losses traced back to the hit from hurricanes harvey and irma. and while many see the decline as a short term blip, it did catch forecasters by surprise. in september, the economy shed 33,000 jobs, while economists were looking for a gain of 80,000. the unemployment rate did dip, to 4.2%, the lowest since 2001. and as hampton pearson tells us, .here were other bright >> reporter: hurricanes harvey and irma, which closed thousands of business in texas and florida, ended the 83-month streak for job gains. and the loss of 33,000 jobs in september was the first monthly decline in nearly seven years. restaurants and bars took the biggest storm-related hits, shedding 105,000 jobs. dallas fed president robert kaplan sees the setback as temporary. >> we knew that the september number was going to be affected by harvey and to some extent irma, and it has been. >> reporter: but there were also signs of underlying strength in the job market. the unemployment rate fell to 4.2%, the low

the only way to get washington fiscal under order is growing economy. the only way you get growing economy with big massive tax cuts across the board, john kennedy did it, ronald reagan did it, i hope donald trump makes congress do the same thing. david: john, there's another way to lower the debt and it's to stop spending much. if you look at the chart 1960 and till now it's through the roof. >> yeah, there's no debt problem as evidence by low yields from treasuries, we have a massive spending problem and when you think about the forbes 400, we have to remember that every dollar is less money for innovators, the people on the list did something remarkable that enhanced standard of living. think how much more they can do if the federal government were spending much less. david: it would be lovely. a lot of political problems. let's talk about tax cuts for a second. paul ryan on friday, the speaker of the house said that there is in the new tax bill, there's going to be another bracket that trump hasn't talked about. fourth income tax bracket for the very

overall i think powell would be a good choice for the market and for the economy overall. yes. >> he's been considered more dovish than kevin warsh. that's why we saw market reaction to the emergence of jerome powell, that's last week or the week before we'll see what happens we should know more in the next couple weeks let's talk about the start of the earnings season in the u.s., kicking off with jp morgan and citi. >>> the big banks kick off their report card season that's in two minutes. zar: one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor. you myour joints...thing for your heart... or

are still lies of work figures released by the country statistic agency on tuesday showed that the economy actually contracted last year and g.d.p. at one hundred seventy six billion euros was down from the year before those figures have come as a surprise to lenders in expecting modest growth despite that the i.m.f. appears ready to support his desire for an imminent exit from its third bailout program i believe that a resolute implementation of this program together with an agreement with the greece's european partners on that relief or essential to support greece return to sustainable growth and a successful exit from any official financing a soon as next year after three bailouts and years of a staring greeks are keen to wave goodbye to their creditors but for that to happen the numbers will have to match the optimism. now an incident involving an air berlin flight to dust off airport on cheers the evening is being investigated by germany's aviation authorities instead of landing take a look at this an air berlin plane made a low pass over the airport before coming around and landing i

and yet it's costing the economy $2 trillion a year. and i believe those effects are borne by america's poor and middle class. in your opinion do you think an idea like the regulatory budgeting idea i've proposed or the reigns act which would require congressional approval of major regulations would have a desirable impact on gdp and benefits for america's poor and middle class? >> thank you, senator. in terms of the specific proposals, i would have to touch base with my colleagues at the white house. it's not something i've discussed with them. i wouldn't wish to signal official white house position that i'm not currently informed about. certainly the topics you mention are incredibly important to the white house. i think that one reason why sentiment in the u.s. is so much higher right now is that there's been a lot of palpable deregulation so far this year. but also almost a halt of costly new regulations. the cea has been studying the impacts on firms of new regulations. it's quite striking. if all the sudden you run a business that

the u.k. economy, a surprise to the upside today. last major economics report before next week's boe meeting. hanson.us now is dan have you changed your view of what the boe will do on the back of this? is it even more likely they will hike rates? dan: i think so. , we had both sounding pretty noncommittal and we do not think they are going to go for the hike in november. we think next week you will get seven votes in favor of a hike, two votes against. strongerr today was than the beer we were expecting in its august inflation report. we think that essentially sealed the deal. mark: what message is peddled along with the rate hike next week? many discuss one and done. that is not the message they are going to portray? dan: i think the key to the guidance they will issue, if the economy performs as they expect -- and the thing to look out for is where they see the , aroundment rates going 4% is where the they view sustainable -- and if that forecast comes to for rish and then yes, more hikes are likely. fruition then yes, more hikes

itit's interesting, because will be about the economy. d about the nuclear issues, and they have differing about the energy mix in japan going forward. so that's going to be a main issue. the tax issues, consumption tax or a tax on earnings.retained but the real issue here is the economy and monetary policy, interestingly, abe economics and this unprecedented easing euro rates was a cornstone of abe economics in the past five years. in this election, they did not is asarily mention this cornstone. but koike is pointing to it as a difference. they don't believe they should change the monetary policy right now, the party of hope, but they do have differing opinions on exit strategy. this is what koike had to say in an interview with bloomberg television. >> the extraordinary easing of broughtackages have only marginal impromptus in marginal improvements in the japanese economy. while i think rapid policy desirable, since that could destabilize the markets, we must think carefully the exit strategy. >> and, again, she's against this consumpti

so this increase of me to parliament shows that the economy has fully adjusted to a low level of food prices because you know you can come with the soviet union in the mid eighty's when you would soon because the decline in oil prices was sharp in both of the cases the claimed more than two fold in each of the cases and unlike the solution was the soviet union which may never have adjusted to low level fuel prices russia did so in the bust couple of years the budget that was submitted to the parliament shows that this is the case because with forty dollars per barrel oil prices with them one to two years will have a few school deficit below one percent of g.d.p. well they are a school of economics here on alma mater. of planned budget expenditures that's almost one third going to defense and security and the share of spending on education on health care decreasing puts russia on par as they put it third world countries is that a fair assessment i believe not and the story here is that you should look at the consolidated budget which includes all the budgets of the federal budget the r