is a dream for me. Most exciting part of the dream is the morning meeting. I love it because it is unrestrained and it is unplugged ten minutes. We'll give you everything we know about the market.

Stand the code to join and never miss the morning meeting. It's not pretty out there and it's an expectation of course that we have a lot more earnings mornings to come and or

or

Newport. Newport had been very strong. Newport's open lot of plants and now it turns out that Newport is seeing weakness and very key

part of the line. Newport Huntsman seeing weakness and polyurethane. These are the things early two weeks ago we were saying.

There were so many free nights in the week that I think it was a wake up call for the 10 that maybe would be a little too glimpsier and say 75.

They're going to take this 100 off the table. That would be catastrophic.

Just because we also have a lot of other problems we're containing with as a country. Then I think you're really feeding into a narrative that's pulling America down and holding America back. Of course we have a lot more work to do in the fight against inflation in the economy and a number of things that need attention.

But if we just ignore the significance of legislative achievements that some people thought were dead and buried just days before they actually happened.

We ignore what it means to create a 10 million jobs most of any presidency in the history of the Republic. If we ignore the momentum that has been built and then we're not doing our part to support people who are going to help us with the next.

It wasn't named the climate act that you deliberately and some people would say erroneously named at the inflation reduction act and you're celebrating it on the day one again we had 40 years highs.

And in place and you know how that affects people that you know on the low end of thing it's like the most insidious problem that that you know an economy can face.

And it's the worst thing about inflation is that it means people are paying too much by definition for things and what this bill does is allows people to pay lesser things paying less for energy paying less for these home retrofits paying lesser prescription drugs paying lesser insulin if you're on Medicare as you know.

And the public can successfully blocked us from getting $35 a month insulin to everybody but we were able to get it to Medicare recipients and even paying less for electric vehicles.

So this is part of the fight against the effects that inflation have on people. Look we get a whole other conversation over drink about how bills get named the acronyms they come up with the names we come up I get it and there are a lot of different things that are part of this bill.

And some of which are related to inflation but in my view all of which are going to make a big very positive and historic difference for the American people.

Certainly clear out about the headwinds that we're facing we're seeing a lot of these concerns and questions coming up still a lot of growth obviously still exceptionally low unemployment but you look at the instability that there is the consequences in Europe and the Ukraine war.

Still far from seeing the end of the ripple effects of the COVID and then a related shocks areas that obviously is really hurting for folks is housing and we see mortgage interest rates above 6% for the first time since 2008 how high do you think that's going to go.

You know I think we certainly seen a very substantial part of the increases that are going to come but it wouldn't surprise me if we see some further increases in more in mortgage rates that's what happens after a period that's what happens after a period of excess.

I've hesitant to make a numerical forecast but I don't think we're at the peak right now but I don't think we're going to see massive increases from here are you worried that we can see a housing crash on the horizon.

I think for a variety of reasons this is nothing like what happened in 2008 in some parts of the country but I think housing prices probably are more likely to fall nationwide from their current level then they are to rise.

That's the consequence of the fact that the economy at some point will slow that's a consequence of the higher mortgage rates and the reduced affordability unfortunately I'm not sure at all that rents are going to fall and I think rents may keep increasing in part because given these mortgage rates people are going to move from buying homes to renting the places where they live.

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