what would he be speaking today if you weren't leaving for europe? hard to say. lisa: hard to say, or no. this is the issue, all of these false deadlines that have been created. kailey brought up the progressive wing. does it at the senate, does it get the house to a vote on bipartisan infrastructure, which really a lot of people say is the main goal heading into year end right now? josh: and heading into this weekend, where funding measures are set to expire if there is no deal on infrastructure. at last count, no. progressive has said they will not take they will take a framework or deal in lieu of an actual vote, and they are not going to let the house bill go forward on that interceptor bill until they do, so right now, these two are locked in tandem. whether they both get off the ground remains unclear, but biden will try to give it a boost today. lisa: to dovetail this into the question of the audience president biden is speaking to, there is the domestic audience and the international audience as well heading into g20. is the united states united? how much

united states and europe. third step, come back to some public. otherwise, you render it killing growth. the best response to a crisis is more growth, sustainable growth for all the people. >> we are seeing the bills going through the roof. governments have announced how to ease on households. are you willing to work with russia? >> nuclear energy is one of the best solutions. you should want to be dependent on russia -- that's your choice. that's not my choice. investing more in renewable energy so we can have a mix which makes europe fully independent from the other countries. >> more french, less german at least on energy. >> yes. >> i hope the meeting goes well. thanks so much. tom? >> maria from the embassy of the republic of france in rome. the international relations piles on us, you wonder to weeks from now at the end of scotland what will be accomplished. >> i wonder, i am trying to, but hopefully it will be something that will be a little more concrete. i think was interesting the conversation about supply chain disruptions. what kind of

and in europe. go look at how this is done as a financial etf here versus the bank financial in europe. it's doubled the return. to me i would rather bet on cyclical recovery in the u.s. then on europe. >> the language changes but it's the same. the vogue is gam a squeeze. it's a greek letter for an accelerated second derivative movement in this case up typically. andrew: i'm not smart enough to figure all of that out. [laughter] tom: should we join some form of tesla catharsis will be set us up for the big drop? >> there are stocks that are beloved stocks. i'm very wary to take a market in that picture. if a look at my portfolio stocks , almost every company in our portfolio so far has beaten and raised numbers. i think the earnings fundamental are validating, and i can point to specific stocks. it's a crazy market. and that's true. don't miss out, fundamentals are good. tom: liz and saunders was good on that. tesla is not the market. jonathan: it's just the two of them. thank you sarah as always.

supply chain in europe. the second thing is the labor market the other element of the inflation equation. the labor market has been quite sluggish. they were asking for 5% rate and it looks like it may not go through. you've got a lot less pressure in the ecb, the economy came out behind the u.s.. they will watch with the fed is doing. >> talking of inflation into labor pressures, we have caterpillar earnings crossing the terminal. they beat it by 2%. i'm looking through the press release and they talk about manufacturing cost because of higher labor costs, higher material costs. they were able to offset that or withstand it to some degree. have we grossly underestimated the ability of companies to do that? >> i think that is a company by company decision. you have rising costs on one side and i think we are overly focused on those rising costs. companies can handle rising costs. i think that's what you are seeing with caterpillar. they had those rising costs. what construction worker doesn't want to have a

europe it is much worse. 153 63. you are not seeing a big move in nominal yields it in compared sin -- in comparison to the nominal yield. we are in today. session lows are at -5.6%. we are just about holding on to 150. tom: everybody goes to the fx market which is the deepest market here. they look at emp. we'll have a guest up by later. but before we get to joe mathieu, this market is different than the last number of days. you have nasdaq down 8% now on correction. that is beginning to get to where there is tension. i do not see it yet in the fix. needs more prints. jonathan: heavily weighted to the euro. the highest since september 2020. that is a week euro. tom: we are pulling an all-nighter. a xiaomi from boston -- a gentle move from boston joins us after a wonderful victory. joe biden needs a victory badly. he is adjusting for 3.5 trillion to whatever he can get. what is the whatever he can get. >> that is a great question. they will tell you not to pay attention to the top line number, of course, and an inter

for europe, these prices are a big deal. tom: $200 a barrel, i enter blake that to $8.42 -- i interrelate that to $8.48 a gallon. what is the political ramification you read about in the zeitgeist of higher oil prices? lisa: it only makes negotiations in washington that much more tenuous when they are trying to figure out how to position for the midterm elections. the democrats are going to be in the hot seat if you have oil prices climbing above $100 a barrel heading into the midterm elections. you have to wonder what they are going to get done, even now. i wonder how much stems from the policy uncertainty and the feeling that nothing will get done, and we are going to bump up against the debt ceiling debate and the limit there. tom: anthony emails and. he says he loves how my bowtie looks on radio. this is the red sox baseball diamond tie. jonathan: that's where you want to go? you want to annoy everyone in new york? at least most people in new york. we have a mets fan with us this morning. lisa: thank you. jonathan: treas

relative to performance in europe, and what we have had is europe continuing to underperform. so i think what we have seen over the last couple of weeks is what seems to be a bigger impact on europe in terms of the increase in prices, supply chain bottlenecks, exposure to china that are driving down european equities across most sectors in a way that is not hitting the u.s. despite a bigger increase in real rates. jonathan: you've got a follow-up tom. tom: no, i don't have a follow-up. jonathan: people have really increased their exposure. i am trying to understand from your perspective where they should reduce it. where specifically? daniel: our current allocation is underweight european large-cap versus u.s. anyway. our over weights in europe are two european small caps, so we see the potential there primarily in the recovery story that you pointed out we thought would start in september and hopefully will come up towards the end of the year instead. but in terms of the exposures you see in europe, i think it really is going to be a function of the flexibility of the labor m

putin talking about gas in europe. what is important to me is the asymmetry of the united states with jp morgan and what we are seeing in europe over any number of things, including energy. the distinctions to get to these banks between ecb and fed at the meetings here in washington has never been wider. jonathan: jp morgan and the premarket positive 0.6%, rallying into the numbers and doing ok coming out of them, up 0.6%. tom: i want to point out carmen reinhart, you just heard from, is a little bit front and center here in washington at these meetings. she has taken an elevated responsibility at the world bank because the two word phrase here is data integrity. the uproar at the world bank, they need data integrity, and the imf is trying to reaffirm data integrity. jonathan: those reports need some credibility. they've got to redo some of them. tom: they've got to rebuild it. there's no way better to do that. this time is different. you do it with carmen reinhart. for bank earnings, you bring in alison williams, bloo

however, i would suggest that europe and the u.s. are still in two very different positions from this point of view. the recovery started earlier in the u.s. the fiscal stimulus was higher than in europe, which means the output gap in the u.s. is probably close to 0 right now, so that the fed talks about removing qe entirely, find that some members talk about hiking rates, fine, but we are not there in europe. and the risk is that the market tries to create a bucket where every single central bank would find themselves. it is true that inflation is rising everywhere, albeit to a lesser degree in europe, but you can feel the pressure. if someone moves or talks about hiking a rate somewhere, it is creating mood music everywhere. europe is not in a situation where we need to think about that right now. jonathan: we still have central bank like new zealand, like the bank of england. gilles, you are right to point out the ecb. the opportunity to push back is the december meeting. president lagarde called it an important one. permission to

can london beat the green finance capital of europe and the world? david: i think there is a real -- we heard clearly from the prime minister real sense of trying to spur on in this economy an opportunity to create less regulatory structure and more incentives to spur more of that investment. i am optimistic the u.k. will play a part, but when you think bradley about these issues, this is global. it is particularly so in the developing world. we are going to have to help get capital focused -- focused on the technologies that can move this transition. francine: china, exciting news from global -- goldman sachs. how committed are you to china? david: we take a long-term view. we take this view largely in the fact that we have many clients that have been doing business in china for a long time. they want our support. we are extremely pleased that after a long period of time we have ownership and control of our joint venture in china. we have a long-term plan to continue to grow in china. we have recently announced a joint venture. no question that the

as well, and you can do some trades in europe to add to the value tilt. overall, we don't think you should be tilted one way or the other in more of a barbell. everybody uses it, but the truth of the matter is this year, the market doesn't reward you for being overweight value or cyclicals. it really was a monthly or even quarterly story, and i think as we move into the second quarter of next year, those supply chain issues are going to lessen. commodity price spikes come down, and when that happens, you are going to see the flattening of the yield curve, and you are going to see increasing growth and a lowering of inflation. so you want to be prepared for that, but you have a short-term where inflation is moving higher as inflation expect haitians are moving higher. you have to get through it. we think by the second quarter, these supply issues will start to come down. again, commodity price spikes don't last. tom: if i wanted -- jonathan: if i wanted a call option on a better supply side story, what am i doing here? is it true industrials? where do i ge

trans action prices are just lower than they are in the u.s., and the same for europe. but to be able to expand margins as transaction prices get lower and lower, the same thing will happen as global legacy automakers start to scale production of electric vehicles. lisa: do they clear that hummer? that has to charge for three weeks to get you to the upper east side for one night. when you talk about that, tesla shown that actually, they can make it more profitable, with their margins going up pretty significantly. how much is this a seachange for the likes of general motors that is very much investing in this game? kevin: it is, but the other thing you have to think about is it is happening on internal combustion now also. some of the transaction and pricing data we are seeing any third-quarter is unbelievable. in the u.s., typically we average about 6.5% discount from msrp, meaning you could walk into any dealership and expect on a $43,000 vehicle about $2700 in haggle immediately, and the dealer won't blink. in september, that number was $70. that discount was 0.1 5%.

in europe. also, technology is mostly in europe and the u.s.. jonathan: if we get anywhere close to zero, this is what is going to happen. they will call you at about 8:35 eastern time to pick up the phone. if we get nowhere near it, we don't talk to you again. tom: jon. we are calling it 8:31:30. lisa: people still talk to you if it is not zero. someone has got to be. jonathan: thomas, thank you, sir. tom: pray conversation. jonathan: looking for zero, tom. tom: i did what are the stupid fools one-time. -- pools. i have never done it since. jonathan: why did we stop doing that? tom: it's stupid. lisa: he got crossed every time. -- crushed every time. tom: 200,000. 400,000 divided by 150 million. i'm doing math or radio. jonathan: i'm going to help you now. lisa: there is a debate underpinning this company pitches a patient rate. -- underpinning this, the differential between the bearish view and thomas's more bullish view has to do on the tightness of the labor market. i find that fascinating. jonathan: the unknown. equity futures this morning

energy prices in europe have extended their blistering rally. the regionwide supply crunch showed no signs of easing, and that has prompted the european union to promise swift action to protect the economy. dutch and u.k. natural gas futures have jumped 60% in st a few days. in hong kong, chief executive carrie lam has outlined plans to develop a border with china into a major metropolitan area. more than 9000 homes would be built to ease a housing crisis. lam wants to develop the area into an information technology hub. on monday, snape saw a 23% boost in time spent on its android app, compared with the same day the prior week. telegram and signal also reported a big surge in usage. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ sen. warren: i can't support jay powell for riemann nomination -- for renomination. my view is he ends his term, we put somebody else in his place, and i think the fed will be better of

i look about where you talk about europe and japan outstripping american earnings. let's go back to the s&p 500 whiz -- which is multinational. can you give us a new s&p number and of 2022? as an investor on the sell side, i don't have to give point estimates but i try not to look so far ahead to the end of next year. i'm trying to figure out the next month or so. we will see how the economy and earnings layout and the second half of next year. i think it might get trickier as we returned back to trend growth. over the next few quarters, we are still going to see a really nice pickup in the u.s. economy but the global economy. vaccinations will go to emerging markets and there is a strong fiscal impulse in europe and japan. the near term trend i think is still quite right. tom: i'm looking up coca-cola. coca-cola is like north america is half their sales. the spx is a multinational index that benefits from this optimism. >> i completely agree. u.s. stocks will do very well in this environment. the sensitivity of the european index or japan's index to global growth i

you know, you talked about it at the top of the show, about how much is getting priced and in europe and in the u.s. as well. we have two hikes priced in now for the u.s. after this round of tightening in the market over the last week or two. so weaker data actually pushes out that scenario, and we know that policy has been a big driver of asset prices. lisa: hold on a second. this is really key. are you saying we are still in an environment where bad news is good news in terms of markets? lee: yes, the longer we get the policy support, the better for markets. as long as the economy is not going into recession or disastrous, but if we are going on the right path but at a slower pace, which means the policy support persists for longer, still positive for markets overall because of more policy support. kailey: what you are seeing in the bond market is the anticipation that policy support will not persist for longer. it has already started in some places. the equity market is still resilient. is that not a mismatch? lee: yes, there's no doubt there's a lot of mismatches going on at the

russia keeping gas supplied to europe limited month. tom: even saw a little pop in north america. i am going to say this as much as i can. there is a mathiness, there is a log convexity in the lme metals market like i have not seen going way back. i am talking 20, 30 years. that log convexity is french for acceleration. these prices are moving. jonathan: you mentioned how higher energy prices are starting to influence higher metals prices. we talked about it last week on this program. cutting back production because energy cost to get out of this -- to get this out of the ground is getting too expensive. tom: it is so important, and you literally have to go into the science of it. these are not financial instruments. these are not suits and ties moving paper around. this is tangible stuff. there is demand and supply variance. coco is actually down today. these are processes, and so many revolve around $86 brent. jonathan: central banks starting to respond to this. you heard that from the bank of england. lisa: 1% potential interest rate overnight in the united kingdom. how is that

i'm really concerned about stagflation with respect to the united states and the rest of europe, but where i think you've got particular shocks and a policy response with fiscal tightening, non-responding supply shortages, encouraging firms to raise wages without any effort to help enhance productivity, and you've also got a bank of england sounding increasingly hawkish, i think this adds up to quite a potent cocktail for the u.k. and u.k. assets. tom: if the cocktail right now a weakened consumer, a lesser consumer in the coming year. david: the consumer has been crucial, and it is certainly the case that the energy shock that we are experiencing across much of the world, to a lesser extent in the u.s., but obviously seeing higher oil prices, is a negative shock for household incomes. all that being said, generally speaking, households are still in a pretty good place. i think it is important to bear in mind that this recovery has been very uneven. we still do have impacts from the pandemic. i think we saw that in the weaker than expected u.s. payrolls on friday. i think one of the

well this is a burning question of our energy, or in fact, the lack of it here in europe. we know that ursula vaughan delay in the commission president is just warned that businesses may have to close as a result of this crisis. as they may run out of the energy that they need to run those businesses. we know that spain is spoken to the block and said that urgent measures need to be taken. there has to be coordinated action amongst the block members to deal with this crisis, which it warned may last beyond next winter, far longer than anybody else has been talking about to date. no natural gas has gone up in price by more than 400 percent in the last year, more than 20 percent or so in the last day. that gives you a sense of how urgent this crisis is. and as this is unfolding some politicians, rather than looking at what's happening at home in the you are concerned and pointing the finger of blame, shifting it towards russia. the current high gas prices are primarily the result of high demand and low supply. at the same time, russia is playing poker, gas supplies have been

-europe divide kumar -- divide? marvin: the prospects in the u.s. are stronger. we are still looking at above trend gdp numbers, even though we are bringing them down, speaks to the strength in this economy. when we worry about job shortages, it is because the demand is there. earnings estimates are continuing to increase. my equity colleagues are pointing out margin expansion is still in the cards for next year, even if the growth of margin is slowing. jonathan: interesting. marvin, thank you. marvin loh. euro-dollar, stink short. to turn this one around saying we need the ecb to get hawkish and talk about rate hikes, probably not going to happen or we need the fed to get more dovish, unlikely. tom: i believe the barbell of u.s. and europe and also noted the yen dynamic as well. i have dollar-yen. help me here. 113.30. that is two standard deviations, weaker yen and an indication but also an indication of the tension with europe. jonathan: fx, crude 83.63, unchanged this morning. 80.50 right now. this is from raymond james, above 80 he says, it will be a combina

and europe lose economic clout. how do you get more economic clout for the behemoths like china, especially with the credibility gap increasingly growing among policymakers. later, we get the fomc meeting minutes. when did they start tapering the monthly bond purchases? it also has to do with the rate hike idea. 2-year yields at the highest level to have been since the height of the pandemic. despite the fact that transitory is a dirty word, despite the fact that treasury secretary janet yellen says it is in effect, and this is transitory. jonathan: the atlanta fed making headlines yesterday, lisa, thank you. tom, what is in store in washington? tom: damage control at the imf. they have been doing this for decades. it is not going to jump the shark. it is a different meeting. yesterday, all eyes were on the managing director and how she is going to come out of the uproar that she has had at the world bank and her 90-day tenure there a number of years ago. i will say, jon, the jury is out. jonathan: looking forward t

maybe you think of the european union, think what you wish, but europe is in crisis. it must choose between being in ideological construct or a place with real people. and we'll meet a police in norway say the bow and arrow rampage that killed 5 in combs. bergen appears to be a terrorist attack, adding that the suspects had converted to islam and was previously flagged over signs of radicalization. also ahead. ah, at least 6 people are reported killed and dozens wounded in bay root of the government opened fire to protest over the investigation into last year's deadly port explosion. damned if they do damned if they don't to australian police, bear the brunt of public anger at government tactics to watch over anti locked down . activists. the tight restrictions have driven a wedge through society. there they come late at night they, they knock on your door and of course it's are inappropriate because it seems like it's always those assigned people playing target or i do.

europe faces a gas crisis ahead of winter due to a surge in prices and a drop in reserves. the man who played star trek's captain kirk in the 1960's is set to become the oldest man to go into space. jeff bezos's robert -- rocket company will launch william shatner and three others to the encz of space. -- to the edge of space. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am leigh-ann gerrans. this is bloomberg. ♪ oil, gas, coal prices are a serious challenge for the global economic recovery, and as such those i would like to see lower than they are now. tom: fatih birol of the iea with comments on the energy market. we welcome all of you to an exceptionally important conversation. birol's iea put out a blistering four page executive summary which flat out says the distance from madrid to blast out is profound -- to glasgow is profound. with the it leads in the gathering and scotland in a matter of 26 days. ellen wald joins us this morning. within the pandemic and 2019, ma

banks coming over to europe? jonathan: flexible working hours. how many times have we heard that from european players? you can stay at home. it is ok. lisa: and we don't have to pay for real estate. jonathan: it is a massive week for big tech. alphabet your to date up 57%. from new york, this is bloomberg. ♪ laura: with the first word news, i'm laura wright. u.s. and chinese governments have made incremental progress in their economic and trade negotiations. treasury secretary janet yellen and chinese like khmer liu he held their second -- chinese vice premier liu he held their second talks in a few months. senate democrats has moved closer to an agreement on president biden's economic agenda. senator joe manchin expressed optimism there could be a deal this week. he has been pushing to shrink the size of the social spending package. still, some house lawmakers raise doubts about the terms of the deal being discussed. hong kong will soon end most of the quarantine exceptions for overseas and mainline travelers. the city is under pressure from

i mean, we're seen all throughout europe. big time problems, natural gas, electricity. so natural gas is in short supply. the prices are up a 100 percent. they're worried that you know, winter's coming in in europe and it gets very cold, him some parts and people might not have enough natural gas to even heat their homes, which could be a very big problem. and then, you know, because of these, these are complex system. what happened is they try to effect one thing and they don't take into account all the other problems. so when natural gas gets in shortage, and then of course prices spike from that, within the natural gas that's used to create electricity, the price to start spiking, the companies go out of business. and what's interesting is they had just met. the you in is, is having a big meeting coming up, but they just did a pre median, i think, a week or 2 ago and a good old boris from the u. k. i said that we want to make the u. k. the example, that's what he said. and so i thought, wow, how rich that they want to be the example because the u. k is literally in t

many parts of europe, what you're seeing in the united states, we may change the label here. we've got foreign policy for the middle class. but the -- is pretty similar. tom: when you wrote a world in disarray you could not imagine the fiscal chaos. jonathan ferro was describing the debt ceiling. how do we prosecute whatever foreign policy with our domestic front in such disarray. >> the short answer is can do it well. we are not predictable, we are not reliable. those were dependent upon security, they look at us and there is a wise choice. you mention some of my previous books. the book i'm writing now is on america's domestic turmoil, on the threats to american democracy. i think the greatest threat to our standing in the world to our standing at home is not china or north korea or iran or russia, it's ourselves. it begins here. tom: how do the moderates take the high ground. looking at the zany us of what it's done every day. how do we rediscover the middleground of american politics. >> by the answer to that i put it out there. we talk about redoing civics education, ame

they were paid to borrow money as you saw in europe, with the l. v. a made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana, i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card. warren buffer borrows money at 0. there's no difference between that and living in a ban tuesday and being cut off because i know that the results are poverty and that because the pop life expectancy is down, infant mortality is up, wealth and income gap is increasing. thanks. j. palo, atrocious. i want to come back much more coming your way. ah, all those driven by dreamers shaped banks control center. those with dares sinks. we dare to ask oh, you should expect to be of random and we'll be in the image with a seat. and i'm sorry, this is a long explanation be you will have to see if that is don. you want me to go on as, but there are 2 big julie energies. you can't impose the democ

europe's biggest supplier since to plan more through the key gas root en -- gas route in ukraine. a property sump and energy prices have delivered a big blow to chinese growth. gross domestic product spent at 4.5% from the year earlier, down 10.9% in the previous quarter. there are signs of more pain to come as the country heads into winter and property curbs remain. beijing has signaled his not rushing to stimulate the economy, suggesting growth may just continue to slow. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm leigh-ann gerrans. this is bloomberg. ♪ >> value has been really trash, and the whole value sector has so underperformed growth that you wonder why anybody would look at value stocks. i think the pendulum has swung so far that you do have to look at value stocks. jonathan: margaret patel is not alone, the senior portfolio manager at market field asset management. yields higher by three basis points on tens. higher on the front end, much more in the u.k., new zealand,

and so because they forbidden from them further north, we get them in western europe. but last couple years ago, what happened in the arctic with a high pressure zone didn't form in the way that it, that it should have done. and so the storms went far further. no, they went in, this fall bought an in to be no region arctic, causing those places which should be impermanent. darkness in february should be minus 50 minus 25 degrees centigrade. and it was raining now they were having plus 0 degrees of weather in those conditions. so what happened to that white pressure arctic whether it drifted further south and it went across europe. and the easterly wind picked up a course of very cold continental europe and came further west toward the united kingdom. so as a consequence of changes in the arctic, b arctic essentially received the whether the united kingdom with otherwise scott and we received the alt weather. so these are alterations for the atmospheric system that is a consequence. so sort of large scale global warming and we're just going to have to get used to seeing

that is, i mean, it's really problematic for the vast majority of people, whether it's in the us or europe around the world because you're just getting squeezed in so many different directions by stagflation and now that creates even more economic and societal unrest. and so it's, it's a boy, it's a very awkward place where we are here in late 2021. and. and so, you know, i look at the coin, i look at the hard money that i own, the end of the sound money that i own. and yeah, the price fluctuating would be quicker to $40000.00 couple, which i don't care when i know where this is all headed. and so we just kind of keep your eye on that longer term picture and, and be aware of the certainty of, of how it is all playing out stacked last. and of course, back in the seventy's when nixon did close the gold window. and you had an attempt to pay for the vietnam war by mass of money printing cause a lot of inflation and the economy was a stagnating. so you have this stagnation, i believe. even richard nixon at the time made a nod to canes in his i'm what he said. we're all keynesian now. knock. so

so that is an urgent issue, and europe has to take the lead on this issue. jonathan: we talked about this great divergence this week because of the imf. let's talk about that from a "central perspective. we have had interest rate hikes from chile in the last 24 hours. . using something building -- do you think something is building for emerging markets that can spread to dm? mohamed: may next op-ed will be on that. i think there is a risk for developing countries that they have a perfect storm. that means massive cost push inflation, especially for commodity importers. lower global growth as the china and u.s. low. on top of that, the risk of reversal in financial flows. that is why you are seeing the central banks tighten way before the fed. it is meaningful because i go back not just to divergence, but to what get ago vanessa calls -- to what gita gopinath calls dangerous divergence. it is something we should be keeping an eye on. i think the imf did a great service by introducing this notion of dangerous dispersion, and we should pursue it further. jonath

they were paid to borrow money, as you saw in europe, with di elvia made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana, i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card. warren buffer borrows money at 0. there's no difference between that and living in have been tuesday and being cut off because i know that the results are poverty and that because the part, life expectancy is down, infant mortality is up, wealth and income gap is increasing. thanks. j. palo, atrocious. i want to come back much more coming your way. ah. if you would expect to be of longer meant to be in the image of liberty. oh, see, i'm sorry. this is a wrong expectation. you will have to see a peculiarity. you can't impose the democratic system of the wall and the political order with a a a ah, with ah and with new quote is researchable can listen to can he's not live too. sure. right. ok. ah, welcome back to the kaise

but does europe have the political will to actually defend itself? imagine picking up a future textbook on the early years of the 21st century. what are the chapters cold, gun violence, school shootings, homelessness? first, it was my job and then it was my family. didn't was my savings. i have nothing, i have nothing and it's not like i don't try. i look for resources, i look for jobs, i look for everything i can to make this pass. and i end up doing, passing time, the road to the american dream paved with dead refugees. it's very idealized image of our america makes americans look past the deaths to happen every single day. this is a modem. history of the usa, my america. oh, nazi. join me every thursday on the alex salmon. sure. i'll be speaking to guess what the world of politics, sport business, i'm show business. i'll see you then. oh i oh so my father, when i was a kid he was raising us while going to college and working full time job and sometimes to jobs. he knew how to be serious if the situation called for him, but.

europe stands at a crossroads will remain dependent on washington as a junior partner or will europe opt to play the role of a great power on the world stage a ah. with patience already for security, for hours to get into hospital in the u. k. paramedics born or what are tele, unprecedented crisis facing the i've been at service for the army, is put on standby to help we ask a doctor to diagnose the government's plans for the ensures around 5700000 people on way cheapness with a me a net chest, present which saturdays probably going to get worse before it gets better. several voters, those are reportedly shot dead on more than a 100 injured as volunteer ups on the streets of saddam and soft ro, military take over, reduces the country to chaos, and fueling disputes. europe's gas grocer sees more riffs, emerged within the e u, both i head off and during an emergency. and as you.

they were paid to borrow money as you saw in europe, with d elvia made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana and i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card. warren buffer borrows money at 0. there's no difference between that living and have been tuesday and being cut off because i know that the results are poverty and death because the pot life expectancy is down, infant mortality is up. well, think of gap is increasing. thanks. j. pow, atrocious. i want to come back much more coming your way. ah, the lack of universal health care makes america the country of every man for himself. we have a retirement crisis in this country and we have a health care crisis for seniors in this country as well. so private business has come up with a special mechanism for that. it's called the life settlement market. we are a life settlement provider, which means that we buy life insuranc

europe is struggling to find enough: gas. -- enough coal and gas. according to an interim analysis of a late stage trial, -- another hurdle for the global economy. a metal used in everything from car parts to phone chips is scarce. global news, 24 hours a day, i am ritika gupta. this is bloomberg. >> you have acted to make our banking system laissez and that -- less safe, and that makes you a dangerous man to head up the fed. >> you are thoughtful, deliberate and transparent, the antithesis of dangerous. >> our country will be better off with your leadership. jonathan: a dangerous man the quote of the week! good morning. tom keene, lisa abramowicz and jonathan ferro. we are pushing 150 again. at 100 49.44, we enter a dangerous -- 149.44, we enter a dangerous period in washington dc. tom: what you call it " relative gloom," jon? lisa: relative gloom -- i like that. tom: house democrats our caucusing at 10:00 a.m.. what is a caucus? do they meet at starbucks? >> we are good at caucus here and by that i mean talking to each other -- at each other rathe

they were paid to borrow money, as you saw in europe, with di elvia made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana, i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card while buffer borrows money at 0. there's no difference between that living and have been tucson and being cut off, and i know that the results are poverty and death because the pop life expectancy is down, infant mortality is up, wealth income gap is increasing. thanks. j. palo, atrocious. i want to come back much more coming your way. ah little. ah oh ah, i'll go back to the kaiser report, i max kaiser time, not to return to our conversation with rick ackerman of rick picks wreck. welcome back. thanks for inviting me on max. who is a pleasure? all right, i wanted to continue talking about the topic from the previous episode and terms of inflation versus deflation. you point out that you've got a situation where the glob

if you look at what's going on now, you are right that there are spikes in eastern europe. i will give you an antidote. romania stalled their backs -- sold their vaccines to denmark a couple months ago because they did not want to use them themselves. in some countries where the vaccination rates are very low they will have issues in the winter. and a different group of countries where we have very high vaccination rates and hospital pressure will be very much lower than previous cycles. we will have pockets of winter waves where they are behind on vaccinations. you will find that this wave that we are facing now is going to be having much less of an impact. jonathan: we hope so. thank you. take care. just a shift to the u.k., a shift in tone from the house secretary. saying we all have a role to play. the pandemic is not over. there is a fear, for some people, that we get deeper into winter and some restrictions have to return. this government doesn't want to go there. tom: to give credit you have hundred thousand people in the stands for the premier league and the champio

maybe you think of the european union, think what you wish, but europe is in crisis. it must choose between being an ideological construct or a place with real people and real meet these people learn from their own experience, how vulnerable of business is to the bank. so he pushes my business over, the age, pushes me right to the edge, bankruptcy. now i realize we will go, this isn't just the back that it may be involved in this is the concept. see, firms is, is the lawyers, these people have got you want other stories at a walk kind of whistleblower. tell people's marriages have broken up, has lost their family homes. it is spectacularly devastating for people's lives. we have committed suicide, but left behind north, the explicitly, steve, that it was the constant intimidation and billing by bank officers that led them to i took the spear, it's obscene. these people up nor sold. join me every thursday on the alex simon, sure. i'll be speaking to guess of the world of politics. sport, business. i'm sure business. i'll see you then. i ah, welcome back to the kaiser r

i mean, you know, in the last year owns you're on europe like 19.7 percent. that didn't happen in the housing bubble. you know, the, the i a, some study was out just this morning, month on monday. i assume price is paid report, $1.00 of 2.2 percent of the on twitter was kind enough to compile that for us 30 percent a year. i assume price increase, you know, and we've all seen the container shipping. of course, the other side will cite the lumber example as well, lumber, triple that came back up. all right, fine. so there are some problems with the sawmills and lumber went up, but the bottom line is, as you know, as i know it is anyone who seriously looking at economic data knows there is inflation raging everywhere. absolutely. everywhere. and, you know, the friend is playing steri fab, right? you know, they're going to taper, oh my goodness, you know, we're going to get this under control. even if they do tape or they are so far behind the curve, but it's insane. you know, i mean, it's going to turn and it's going to turn, bitcoin is going to go a lot higher

the surprise indexes for europe deeply negative, just capturing that story. we have had disappointment after disappointment. tom: with their labor scripture, the asymmetric feel of what happens after hydrocarbons go up. what is it, $200 a barrel on whatever net gas you look at? these are huge numbers. jonathan: the equivalent of $200, if that is where you are pulling that number from. euro-dollar, $1.1559. that's your cross asset price action. let's get you some single name movers this morning and say good morning to romaine. romaine: a big story this morning and the past few weeks has been about these supply chain issues here. it is pretty much the only thing that could potentially get in the way of the rally, or the rebound rally, we are starting to see in stocks. taiwan semi came out with earnings overnight. they were phenomenal. a record quarter. they made it clear that supply chain issues are really affecting it. they mentioned supplies with apple, supplies with some of their other companies in the automotive space, they don't have the capacity to meet s

they were paid to borrow money, as you saw in europe, with di elvia made buying tiffany for money that the european central bank gifted them on top of the 0 that they were charging for that money. so this dana, i'll say this again, i'm sorry, but this is the reality folks, this is financial apartheid. we've got to borrow money at $17.00 or 18 percent on our credit card. warren buffer borrows money at 0. there's no difference between that and living in a bench houston and being cut off because i know that the results are poverty and that because the part, life expectancy is down, infant mortality is up wolf and income gap is increasing. thanks. j, palo, atrocious, or i really like a break when i come back much more coming your way. ah ah, no one else seemed wrong. when all proofs just don't hold any world to shape out. disdain becomes the answer to an engagement equals betrayal. when so many find themselves worlds apart, we choose to look so common ground. these are the full people who pulled the trigger and survive something on survival. wireless ver harless, things that i had to face

so in europe, people might not be working, but they have a dignity in being part of a 100000 year culture, which they're a part of. but in the us, of course, we don't have that. it's just the theory. either you're wealthy or you're a piece of garbage essentially. but anyway, we're going to take a little high interest and told segment to but for now, thanks for big kaiser report. thank you so much. max's are always my pleasure. all right, not going to do it for this edition of kaiser report with me. max kaiser and stacy herbert want to thank our gas charles to smith of 2 minds dot com is website until next time via ah, is your media a reflection of reality? in a world transformed what will make you feel safe, isolation for community. are you going the right way or are you being led somewhere? direct. what is true? what is great? in the world corrupted, you need to send her join us in the depths or remain in the shallows. ah ah, oh, a a a a ah. he died. i cried. i just had a spot the whole time i was there. no one really thought anything different knew this although i just didn't feel good

vaccinated travelers for most of europe will be able to enter thailand without quarantine. they are among 46 countries to be added to the quarantine free travel list and that's starting next month. china is expanding its booster shot program to people who will participate in the upcoming winter olympic games in beijing and surrounding regions. at risk groups include those participating, organizing or working at facilities involved with the games which are set to start on february 4. bts is ending its distribution deal with sony and will go to universal music. it had been pursuing them for years and universal interscope has had a deal for three years with a girl group which is -- which is winning over western audiences. global news, 24 hours a day, powered by more than 2700 journalists and analysts in 120 countries. this is bloomberg. ♪ >> it's everyone's individual right to choose but it's also every oilers individual right -- every employers to best check aaron way so if an versus the best way for us to protect our wheeze is to mandate the vaccine, then employees have a

you know, we talk a human rights article to him in europe, the right to life. that's the most important human right. to preserve all chance, we'll have to wrap it up. i'm afraid we'll enjoy speaking to you both in getting your your views. senior research fellow leads back at universities law school, david low on my left, that retired police officer thomas is out on the right. thanks t both no need for facial recognition today where i'll be in half an hour. okay, with the headline to say that ah anonymity on the internet, the allows own problems and what was going to invite everybody's lloyd. that wasn't the glitch. that was the feature let the people who design teams and that is all in ah hello, i'm ash kaiser. this is the kaiser report. hey, we're going to do a little bit of magic right here, stacy? well, to do magic a need either cards or coins. well, i've got this little tiny coin here, but you know, like the biggest forces in the universe are quite tiny, like a collapsed star. it being like it really dense mass which sucks and all sorts of it has very high

the energy prices that you mentioned are going to be a real problem all winter long, especially in europe, where they live out of russia natural gas. the politicians in the central bankers are going to deflect the blame that is solely on their shoulders, and they're going to look for booking and you know who that's going to be. they're going to blame and i'm in the meantime, i'll get it going to be a long, whole close, hard winter for people like it should be different. your really round, the plant is energy press you so high and again, that all comes back to the feet of the central bankers, the politicians. and that comes fraught with danger. ah, geopolitically, that all that stuff. you know, i like where we're going. we're day making steps to getting some fruit back, but man in between now and then it's, it's going to get worse work. it's better out of time. that's correct. being on the cars report, my pleasure. good. seeing you back. all right, that's going to do it for this additional dekaiser report with may max kaiser and stacy herbert want to thank our guys, craig, happy of the t f