posen points out only about 16% of noncollege educated workers are employed in manufacturing anyway. and much of the decline in manufacturing jobs, if not most of it, can be attributed to changes in technology rather than trade. america's manufacturing output keeps rising even as the number of workers it takes to produce those products has fallen over time. and this is not just an american trend. posen's institute produced a chart tracking manufacturing employment in ohio over the last three decades, and compared it to germany's north rhine west failure, a similarly important manufacturing region. unlike american, germany has a trade surplus. it provides much governmental assistance for manufacturing, which is seen at the heart of the german economy. yet the job losses are even more pronounced in that region of germany than even ohio. even china has overall been losing manufacturing jobs as its economy branches into software and services. it's also worth noting that manufacturing jobs in the u.s. are mostly held by workers who are male and white, a policy that obsessively focuses on

i think it is a good idea to stay on that with adam posen. jonathan: we are going to do that next. tom keene in d.c. alongside me, lisa abramowicz. citi in the premarket, the earnings ok, up by 1.27%. morgan stanley better than ok, up by 2.36%. bloomberg is catching up was james gorman of morgan stanley at 10:30 eastern time. this is bloomberg. ♪ jonathan: buried through the morning because of the bank earnings. we are just around the corner. going into equity futures, going up 19%. the s&p 500 is looking good. ppi numbers are out, and we are breaking things down. >> the producer price index is out, and it is a little bit better than forecasted. we were expecting an increase on a month over month basis. we get a 5/10 increase. that means the over test year-over-year increase rises to eight point 6%. it was expected to be a .7%. it is a significant increase but not what was expected. the core is up .2%. that it's a lot less than a half percent that it was respected. the core rate is down five point 9% on a year-over-year basis. from 6.5%. it looks like we are seeing some significa

. >> el hecho de ser ilegam muchos abusan de eso y ahora tiene mucho por pagar ahora posen exigir sus so ya le tengo el informe completo. >> pero muchos odenr vemos con lacrónica. >> el aracely regresó a casa luego de seguir a su perro en una zona boscosa. >> es un milagro dijo aracely arámbula. no podemos iamginarnos lo que él pasó y el alsaud que el tiene s increíble gracias a dios. >> una caravana de vehículos especiels lo esoltó el alguacil le regaló un placa. >> por eteo camin sin agua ni comida caminó el menor por tres días, la familia lo considera un milagro pero tienen deudas. >> varias especulacione que si alguien lo aventó allá porque u niño solo estaba ,. >> el caso no está cerrado dijo el alguacil es que es el hombre que encontró a christopher sin roa pero ella recibí ullmente . >> el dije holoa pero no coitestó porque solo habla español. >> esto pasó en dos minutos y a cualquiera le pudo haber pasado. >> ella agraedeio adiós y toda las autoridades. >> desde california una avioenta se estrelló en una zona . >> así es mayormente nublados y me encuentr

now the spacecraft named after the 1st posen in space eureka, gar, and undocked from the international space station at $415.00 a. m. moscow time. that the descent took about 3 and a half hours. well right off the touchdown, eula, pittafield and clement pango. describe what bed just be for a new crash. i'm fine. i feel just great. we've landed successfully. everything went exactly according to plan. our commander i leg levied ski, did a good job to be honest. i feel a little sad today, initially without that 12 days would be enough, but when our flight was nearly over, we did want to return ness such a thing happens once in a lifetime, though, so who was cool? it was like a ro. acosta and we were just enjoying it. everything was sparkling outside the window. we had a lot of fun to be honest. when the parachute was released, it started shaken a bit, but it was like been on a good roller coaster or her. so it is a unique moment for russia, so space industry and the world of cinema. you can see a full coverage of the historic landing on the a r t youtube channel for now though, here with

but notice on it must go get all the at e massey posen. them a little but i am pill english that i'd be a bad idea. lonely, what about i think as a d, i. e, dental garza, and way all the employees that all right, i'm in casa. no, no life exile battle. no, but i will be come up very here. season now go. so when i'm in then inland bodies, but i'm for subtle gabriella. that then settle since america malloy, anita, and a lot of people post hurricanes ethan yoda decided that there was nothing left for them in the cities and they decided to make the journey to us. and of course, that puts you at risk to other forms of violence from the drug, drug traffickers, the code, these, the gangs once again, because you're using certain routes. i think climate change really jazz ah, exacerbates existing vulnerabilities in a way that makes it intersect with violence in conflict in unique ways. new little commuting missile is like way off. well said about a little bit on well ok. the book of google, even if i have been waiting, i isa la la. hey, paula laurie. when you follow up here, it was on august 2

tom: adam posen was on fire about a middle ground, not the gloom of high inflation, the idea of disinflation, but finding a new center a tendency that can be comfortable. lisa: he highlighted the differential between respected economists, that will the fed's biggest risk be behind the curve and having to hike quickly or are they potentially just needing to let things go the way they are to get to a new run rate that is more sustainable for this economy. tom: the worries of the bank of japan failure of decades ago. thank you to all of our staff here in washington for getting me to the studio on time. rumor has it i will be with jonathan ferro and lisa on monday. lisa: we'll see. tom: stay with us, this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose

tom: adam posen was on fire yesterday about moving our expectation of a 2% centered inflation rate higher, not to 4%, but in the vicinity of 3%. if we have trend 3% inflation modeled in, how does that change your investment world? margie: i would look at companies and say who has pricing power that can pass that on. the way things look, most u.s. companies have the ability to pass on price increases like that. i would look at companies with growth and pricing power. 2%, 3%, current 6% is not as important as underlying demand. lisa: earlier tom was talking about the narrative, and the one way the narrative shifts is the markets seem to embrace the idea of a more hawkish fed, fed moving faster than previously expected. we saw this with some of the rate hikes brought forward and still the rally. do you think this is ultimately an endorsement at the market will sell off if the fed does not act quickly enough? margie: i don't. you can see what the fed is going to do is a very modest cutting back on its fines, which is positive for the market because the fixed income markets are starved for lon