carol: welcome to "bloomberg businessweek." in this week's issue, a look at the world of president-elect donald trump and who he surrounds himself with and what that means for wall street and main street. oliver: plus, the fear that has taken hold in tech town. carol: and why california says they may be better off with out trump's america. oliver: all of that head on -- ahead on "business week." ♪ carol: we are here with ellen pollack. in the markets and finance section you look at consumer , financial protection bureau and if it will survive a trump administration.

ellen: it is the baby of elizabeth warren and she is a big opponent of trump's and is -- it's meant to protect consumers, an offshoot of dodd-frank, so president-elect trump has talked about rolling back some of dodd-frank. and the question is -- is it going to survive or not? she even elizabeth warren paid a , visit to the offices of the bureau the other day to kind of boost morale. i guess. oliver: this is almost visceral -- almost a visceral way to think about what will happen in politics because they will be opposed to the republican stands -- stance, like elizabeth warren, and it will be interesting to see the financial groups. ellen: it is hard to know how people will react to it. in our story, one person we talked to points out that the bureau is the consumer protection bureau and has helped

many people recoup money they have lost, they have changed fees that are protecting consumers, so one person likes a -- makes a point that the various people who will be hurt by this are some of the people who voted to mr. trump. -- for mr. trump. oliver: this is almost like a special election part two. another story is about steelmakers and how the industrial expansion that trump promised could benefit these industries. ellen: it is no accident that we are talking about trump because we wanted to help readers how to -- readers figure out how to navigate what is the new landscape that is going to be and what it is about. steel has lost a lot of business to china. the steel industry in the u.s. is really a mess. president-elect trump has said he has wanted to invest in infrastructure. to bolster it. the question is, whether this

will revitalize the industry, and a lot of people say it could be very good for the steel industry. carol: let's go to cars. in the companies and industry section, a look at what a trump administration will mean for the automaker. he was vocal on the campaign trail about ford. ellen: he was and he said he thinks nafta is terrible and he wants to reverse it or i don't know how you technically do that. the fact is the auto industry has changed a huge amount in , part because of nafta. so many auto companies have set up in mexico, and there is a lot of parts going across country lines, so really, another question which is the theme of this, but we hope it helps readers identify what the issues are how the auto industry will , cope with this. of course, they say they are looking forward to working with

president-elect trump. oliver: it boils down to the effects trump could have. you do this well in your cover story, talking about the potential upside and how to recalibrate those sort of expectations for the economy because of trump. ellen: right. it is about recalculating. peter is very adamant that sort of no matter what the shifts are in the economy, no matter the political shifts, it is true that business always finds a way to navigate. if you go back and look at history, i think you'll find that peter feels that business always finds a way to figure out how to make money. which is what they're supposed to be doing. carol: there could be an upside. ellen: exactly. carol: we have more from peter coy. >> we continue to talk about the

trump administration and what it means in terms of the economy and the market because you see reaction. peter: [laughter] we have seen a lot. what is surprising is that all of the forecasts going into the election with clinton is going to win, right? but if trump wins, it will be terrible for the stock market, it will crash. carol: it did election night. peter: it did for a few hours but since has gone up. all the people who predicted trump would lose and the market would lose are scrambling to change their story. we decided to take a look at why this is happening. there are a lot of reasons. if you had to pick one, i would say it is the expectation of stimulus, fiscal stimulus in two forms. one is lower taxes, the others -- other is higher spending. carol: which is what everybody has been hammering for. the fed has done everything they can do and it is time for government to act. this is what we are looking at.

peter: very much. paul krugman is interesting. he said on election night, they predicted a recession because trump would win and then they backtracked and said they put their foot in his mouth and allowed views to dominate economic thinking in his column in "the times" this week. he said, actually, it can be pretty good for the market. [laughter] carol: what i really meant. oliver: that drives home how to -- home an important point about how markets work. we are trying to figure out how markets benefit. everything was working together. not only did he go from trump in risk off to being risk on and , also very specific moves in the markets. how much of this is a recalibration of analysts and strategists trying to figure out now that they have moved on past political leanings, what they

want to happen, what we have to revisit and look at it quantitatively? peter: the most obvious is that talking about dispersion, the , most obvious is that stocks have strengthened and bonds have weakened. weaker bonds mean higher interest rates. i could be interpreted positively or negatively. positive if you believe that we were at risk of deflation. well if interest rates are , moving upward, getting an inflation expectation moving up, which seems to be happening, look at swaps market that tells , you that deflation is the diminishing concern. it is a negative if you think that what we are seeing is more worries about the credit worthiness of the u.s. or that you think that maybe inflation could go not just up to the fed's target but above it, and that the fed, having been so accommodating for so long is going into a switch mode and

going back to its traditional role of restraining and overspending government. carol: turning a silver lining into a cover image was the job of director rob. oliver: this cover is exciting, tell us what is going on. rob: we wanted to do a cover to -- cover that will cheer people up. what better way than with puppies, kittens, chocolates, sundays? carol: all the stereotypical things. rob: all the stereotypical things. just to cheer up and assure people that things will be ok. just to assure people. carol: was this your one and only idea? the nation is trying -- was this your one and only idea question -- idea? the nation is trying to -- so were there other ideas you kicked around? rob: there were more ideas that

were conceptual, like one for example was the line business will be great again and it alludes to that, but when this was against the other sketches, it popped out and it is so simple. oliver: what is poignant about this is there is reflection and how this could be good for economic growth. carol: look at the markets. oliver: at the same time, there is sarcasm and, hey, not everybody is on board. that this will actually can out. rob: there is definitely hyperbole happening with this cover. [laughter] we decided to go all the way. carol: is trump too much for california? why some in sacramento and silicon valley want to go their own way. oliver: and how wall street became the global center for espionage. ♪

welcome back to "bloomberg businessweek." i am carol massar. oliver: and i'm oliver minute -- oliver renick. in the politics and policies section, how the election of donald trump has forced california to do some soul searching. carol: some think the golden state may be better off on its own than with trump in washington. we spoke with allison hoffman. talk to me about california. they have been getting ready for a trump administration and how it might impact them. allison: california has 39 million people who live there and it is the democratic-run state. it's also 2700 miles way from -- away from washington, so

democrats and sacramento since the election have been trying to figure out how to basically -- they joked about building a wall around california. oliver: let's dive into that. that is a great sort of way to describe it, very apropos given terms talking about the wall for integration plans. trump is talking about the wall for immigration plans. how do they defend their existing legislation? allison: what they want to do is make sure they can keep policies and programs they want for themselves. they are really very interested in trying to figure out how to defend climate change, emission legislation targeted and the -- at climate change. california, it's such a large market can set standards that , are in action not just for california but the whole country, so automakers will follow the california emission standards. what the lawmakers in california are trying to do is they set stricter emission scandals than

-- standards than the rest of the country more than one decade ago and carmakers followed that, even though congress did not keep up. so they were able to do that and , they feel like they could use that same model to defend other bits of legislation. carol: was interesting in this story, too, allison i feel like , you talk about california being a breeding ground for progressive policymaking, and they have led the charge when it comes to carbon emissions and other issues, health care, support. can we expect california to do that no matter what comes out of washington? allison: i think we can. voters there, the same night trump was elected, they legalized recreational use of marijuana, not the first but the largest. they also passed the crackdown on sales of gun ammunition, so that is a backdoor gun-control measure. the increased taxes on the wealthy. so, you know, the united states goes one direction and california the other way, a state that had a 61.5% vote for

hillary clinton, the second highest in the country after hawaii. and, you know virtually the , entire difference in the popular vote for clinton nationally is chalked up to her big win in california. they see no reason why they should go along with whatever the republicans proposed in washington. i mean it has been only five , years that california has been top to bottom run by democrats, but you have a situation or the -- where the governor is jerry brown, who overlaps with gerald ford during his first term as governor in the nation's 1970's and jerry brown came back to follow arnold schwarzenegger and went the other direction. he has partners in the state assembly and senate, democrats, latinos from southern california, and the day after the election, they put in a -- out a strong statement, the

two heads of legislators branch put out a joint statement in english and spanish and said, listen, california was not part of the united states when the united states was founded, but it is now and we consider ourselves the defenders of progressive values and the country's future. oliver: ok, allison, break down the relationship between washington and what they will be able to do. are they more concerned about the laws they have already installed being taken back or repealed, in a sense or are they , worried that this that they want to do will be repealed or this that they want to do will not be able to get done? allison: state laws washington cannot touch. california has a higher minimum wage that is up to california. california certainly has no interest in rolling back access to abortion, so if the trump supreme court were to undo roe v wade, there are things the stake -- california could be a state that would curb -- protect

abortion rights, no matter what what. there are lots of things they can do on their own. it gets tricky when it depends on federal funding. state lawmakers are concerned about immigration or rather the threat of deportation, and health care. and on health care, they face a little bit of a jam. they have a big enough market that there would certainly be interested insurers and the -- in doing a cal care, basically, but the problem is the funding. so california depends on federal , government, as most states or all states that have accepted the federal care and they depend on federal government to subsidize insurance policies under obamacare and also the medicaid expansion. if they were to get rid of the program in washington, california would have to find a way to pay for that and the only way to do that would raise taxes dramatically. it is possible voters in california would be fine because they would be seen tax cuts from

washington once the program goes like that really, so there could be a way to preserve a california version of public health care like we see under obamacare. the other big dimension of programs that they're concerned about is the treatment of undocumented immigrants. california has been way up front. the lapd chief, charlie beck, has not gone along, even under the obama administration, with efforts to deport criminal immigrants, and he stood up on monday, the 14th, and said, i do not care what the trump administration does, it is not up to my guys in the lapd to be involved with federal deportation policies, so we will simply not help the federal government deport people. carol: up next, silicon valley preparing for brain drain. unless the president-elect changes his tune on immigrants. oliver: and why some companies are rethinking went to go public because of donald trump. ♪

carol: welcome back to "bloomberg businessweek." i'm carol massar. renick.and i'm oliver you can catch us on the radio and sirius xm 119 and a.m. 1130 in new york, am 1200 in boston, 91.60 in the area. carol: and in london and asia on the bloomberg radio plus app. oliver: in technology, a look at what trump's presidency might mean for the ipo market next year. we spoke to bloomberg's alex barinka. carol: people are trying to figure out what it means to have donald trump in the white house and we have seen tech stocks lower after the election.

what about the ipo market? what are you hearing of, from your sources? alex: outside of this this road reaction -- visceral reaction after trump was elected, for ipos, it is more rational. you really need two things. the markets need to be behaving and the companies have to be ready to go. i think the markets behaving is going to be the number one question mark with trump because we do not know what a lot of the policies are and that could breed uncertainty going forward. you have seen the fix, the volatility -- vix of volatility come down below 15, which is perfectly fine if you take listings out, so looking into after the holidays, our markets -- are markets going to behave each and is volatility going to stay down? so, what i am hearing a lot of

is a lot of companies that are looking to go that are potentially considering getting out earlier next year than they might have been considering before because when he comes in, there might be time before policy decisions are made. so that is the market side. , carol: getting it under the wire. alex: exactly. what about the issuers? you have to remember it has been a slow year for ipos, but after labor day, we have seen a rush. some companies have come out to trade well. if you look at tech stocks that have gone out this year, they are up almost 40% as of now, since listing day, pretty good returns for investors. and that is a good sign for companies who are potentially looking to go. so we have seen a lot of , activity from snapchat, as reported, looking to go public early next year, all the way to chain, to the smaller and mid-cap companies, like blue apron. carol: staying in technology, silicon valley fears a trump administration they lead to a

-- may lead to a brain drain. here's ellen hewitt. we have been talking to people curious about donald trump's plans on immigration and what it means for silicon valley that employs a lot of focus from -- workers from outside the united states. -- alan -- ellen: that is exactly right. it is the question on a lot of people in silicon valley right now, given this is a place for many immigrants come to work for a period of years at major tech companies of the world. they are often here on visas employer-sponsored for them to , work, or the tn visa, which lets people from canada or mexico work in the u.s., and that is part of nafta. we have a lot of people in silicon valley that are here with work authorization, who are really concerned about what a trump presidency could bring. and their main concern is

general fear because trump has said things about how he feels about h1v's, nafta, but has not made strong statements on what his specific plans will be, so you have people who are concerned with the future, said general fear but not a certainty of what will come next. oliver: any immigration efforts trump is going to install throughout the country, it will affect everywhere, but silicon valley sort of feels like it is in california, where there is a lot of immigration as well. and then you have tech, which draws people from around the world. are those the two things that could make them a reactive place to the policies? ellen: i think you have silicon valley as a place for immigrants -- where immigrants play an outside role-played a lot of , a lot ofd role

skilled immigrants feel they came here because they were drawn to working in silicon valley and then you have companies that are recruiting hundreds of thousands of people overseas to work of them. it feels close to home. anyone who works in silicon valley has experienced this sense of working around immigrants from all over the world. and i think, you know because we , have sort of the growing global tech scene, there is the thought that people who may have been on the fence on coming to the u.s. for a tech committee go -- company may go to europe instead or may go somewhere that is not the u.s., vancouver or someplace, somewhere they do not feel this new sense of being unwelcome, which many of them told me and my coworker that they felt that the election made them feel like maybe they were not as welcome as they had once thought they were in the u.s. oliver: the brain drain. carol: exactly. i also wonder what does it mean , potentially for the silicon valley economy, one that has been on fire, whatever metric

you want to use. so, i mean is there concern that , if there isn't that access to workers employed workers by tech -- workers, foreign workers employed by tech companies, you could see somewhat of a slowdown in silicon valley? ellen: we had the blackberry ceo saying silicon valley would be hit hard by restrictions on h1v visas, the ones most often used for workers, and that is something trump has said he wants to crack down on, the abuse of the h1v system but he also said he thought it important that silicon valley have access to high skilled talent from around the world. so, people are unsure about what might come next. yeah i think it could have a , huge impact on silicon valley. carol: next, how trump may be more like came been republicans like to admit. oliver: and the spies vladimir putin has on wall street. ♪

carol: welcome back to "bloomberg businessweek." oliver: we bring you the latest mba rankings. carol: and rehab for people who are so rich, they may have lost touch with reality. oliver: and why new york may be the global center for espionage. carol: all of that ahead on "bloomberg businessweek." ♪ ellen we are here with pollack. but still to the focus on section. we may have been doing this

since the late 80's. we ranked based on a variety of metrics. this year, number one? harvard. number two? carol: stamford? ellen: it's stamford. got it. [laughter] what's interesting is that we really look at how valuable it is, and how much it really costs, to get in. oliver: there is actually a score tied to it. even though this is the second year in a row, it's by a larger margin. have toldht, they ahead further than they were before. universityst time, of michigan is not on the list. the costle think about of schools, they don't always add in the cost of leaving their current employment. coming back to politics,

can't avoid it, this is about what will happen in aerospace. particularly, boeing, if president-elect trump does what he says he's going to. ellen: they are one of the biggest exporters in the united states. to be honest, i didn't know that. they have a lot of orders pending for china. and if -- i think that the feeling is that if that -- if president-elect trump comes down hard on china, which he has said he is going to do, will china cancel those orders? and if they do, the beneficiary is airbus. has a lot at stake here. also, they are planning a plant in china. thequestion is -- how will new administration view those plans? oliver: we are talking -- carol: we're talking about billions and billions of dollars they go to china. ellen: a potentially huge

customer. on thelet's stay president-elect. features section, you take a look at whether or not donald trump a diehard keynesian economist. ellen: we do. this is a story that really digs deep into economics and how various economic theories are going to affect the trump presidency. it's very interesting, because one of the things that economists do, which many of our viewers know, is due a lot of modeling. there are various theories about modeling. really, what tax cuts are going to mean for the economy and president-elect trump has promised tax cuts, it depends a bit on what model you choose. we go into that so that people can understand the difference in these models. and the question is -- what the tax cuts will be like and what

-- whether spending will be more possible because of the changing in the models and what infrastructure spending will do in terms of a speed -- stimulus. it's a complicated story that really explains some of the thinking behind what's going on. carol: our reporter, brendan greeley, took a deep dive into the story. oliver: you have the daunting task of trying to assess how donald trump's white house is going to justify spending its money. how do you start delving into that -- into those weeds? brendan: i'm going to leave you with an image that will distressing for the rest of your life. james.maynard oliver: that's a real mix up. bring down the etymology. brendan: there's this ancient idea that infrastructure spending, deficit spending, comes with a multiplier.

meaning you get more economic growth than what you spend. that's what economists refer to as a model of the economy. this is behavior that we expect to happen given this input. so, every president, every congressional majority that wants to make changes to the tax code or create new spending, produces a model in the economy. they didn't officially score the barack obama infrastructure bill did actually they say -- look, we're going to get americans back to work and it will come with a multiplier. that is a kind of model that has been going on in washington for the last 20 years, really, since the newt gingrich republican majority. they have been pushing to shift the way that the congressional budget office in joint committee on taxation models legislation. what they want is dynamic scoring. meaning that if you reduce taxes, it creates economic growth that creates new tax

receipts that are somewhat offset. somewhat in the direction of the majority recently. that the cbo has started doing. it's a very cautious thing that goes on in washington. the president proposes his budget and it comes with a score produced by omb within the white house. that's his macroeconomic model of the recovery, right? congress has their own think tank that comes back and says -- this is how we think the economy operates. cbothen it all goes to the and jc t, which produces an official score. right? they arety that anchored to, what do the official institutions in congress -- how do they think about the economy and what does that say about the long-term fiscal plan? remember, republicans and

democrats want the same thing, right? democrats want to give away bunkley -- giveaway pumpkin pie and say that it's going to be free. right? into all of this delicate maneuvering strides donald trump. carol: also in the features section, the spires -- the spies the vladimir putin has been deploying on wall street. >> it's kind of a funny story. tell us, let's start about the different characters. who does this story focus on and why? >> the story focuses on a -- what is called in the intelligence business -- a nonessential cover in the government, working for the bank, hidden in the heart of

wall street for a number of years until the fbi arrested him last year. carol: so he was a spy? >> he was a spy. spy is not the technical term that they would use in the intelligence world, but for all intents and purposes, and the public would certainly believe he was a spy. oliver: what was he doing the -- that cause the fbi to go after him -- what was he doing that caused the fbi to go after him? >> he was under nonofficial cover, an employee of the rfis. effectively the russian equivalent of the cia. he had been working here as a banker on wall street trying to insert himself into relationships on wall street that he could use to manipulate and mine information for the russian government and the intelligence services. carol: what did he actually end up doing and how did he get

, caught? >> this is the funny bit of this story. he was here for a number of years. he was the first wave of russian intelligence agents sent to the u.s. after the big illegals case in 2009, 2010. where, you remember there were , 17 spies arrested across the country who had been living undercover in the united states. he was the first of the new generation to arrive, and he accomplished very little during the time he was here. he was under fbi surveillance for a large portion of that time. like he gotseems very little information that was not effectively the same as any other wall street analyst would be able to accumulate through reading think tank reports and corporate statements. carol: up next, some charities are seeing a title wave of contributions since donald trump

won the white house. david: and a rehab for people who suffer from affluenza. we will explain that just ahead. ♪

carol: carol: welcome back to "bloomberg businessweek." i'm carol massar. oliver: and i'm oliver renick. some liberal nonprofits have seen a spike in donations since donald trump was elected president. carol: ira, tell us about sarah wechsler? what did she do shortly after the election? >> she is a 35-year-old freelancer in portland. a writer and started making

donations to planned parenthood, the aclu, the council on american islamic nations, hundreds of dollars at a time. she gave away several hundred dollars right away. carol: sarah wechsler was just an ordinary voter like the rest of us? >> right. the reason you mention her she , is one of many people who quickly turned to various organizations, trying to opposed -- trying to oppose trump and his agenda. ofver: you give us examples donations that, while small they , do add up throughout a lot of people throughout the country. what is this order profile people doing this? are they always regular contributors, or they are -- or are they just jumping on right now? >> the organizations have not made too many direct appeals yet. most of these donors are new donors, people coming and knocking on their door. they don't know necessarily if this is clinton voters. that's a good guess, but it is

just people who immediately felt motivated. the biggest number that we have seen so far was a million dollars from 14,000 donors, which is the biggest day they have ever seen. there are similar, although less large numbers, from the organizations we spoke to. whether it is people volunteering your people giving money, or people just calling, it is many many times they normally see. carol: that is what is interesting. is it unusual, after an election, if your party wins i will provide money from my side so that midterm we can make a different? it's typical to see this, but we're seeing a lot more volume? >> is normal. planned parenthood said after a midterm defeat or particular legislature threatening the agenda, they will see an uptick, but it is not like this. it is record-setting for most of these places. the council on islamic american relations have a place on the website where you can volunteer. normally, nothing comes in. within a day after trump's election, they had 500.

it's activity they are not used to seeing. the question becomes how do they capitalize on this or keep that momentum? a lot of them have made' made explicitly anti-trump appeals. the anti-defamation league told me they want to take a more wait and see approach and give tom a chance -- they want to give trump a chance to show that he will not live up to some of his rhetoric. it is an interesting case because they do not want to be seen -- for example, they don't want to be seen as stoking fear with hyperbole. for instance, the national research and defense counsel spoke to someone there and said , they would love to have

exaggerated the threat. they would love to be wrong. carol: up next, if you think life is too good for you, we will show you where to go to compress. oliver: and the bloomberg businessweek annual gift guide. all of that, still ahead. ♪

♪ oliver: welcome back to "bloomberg businessweek." i'm oliver renick. carol: and i'm carol massar. you can listen to us on am 1200 and boston, 91 fm in washington, d.c. oliver: and in london and in asia on the bloomberg radio plus app.

carol: there is a special rehab for 1% is. oliver: we are talking about people who suffer from affluenza. bob, you wrote about an interesting preamp, an affluenza rehab. what is that? >> it is a very controversial term. this rehab doesn't believe in it, but it is a trend that gets thrown around. the idea behind affluenza is that rich kids grow up in a world without any consequences, so they do not learn responsibility. they actually suffer from some sort of psychiatric disorder. this is not a formal psychiatric disorder, but in court, it came up once in this horrible case. oliver: ethan couch, who popularized the term. who was drunk boy and on substances and got in a drunk driving accident and killed people. his psychiatrist got up and court and said he suffered from affluenza. the rehab they wanted to send him to and where he had already

spent 60 days awaiting trial was newport academy. it is in orange county and connecticut. it was founded by a young man named jamison munro who started the place when he was 28 shortly after he got out of rehab. it is probably the most luxurious rehab for adolescent s you can imagine. carol: i am assuming you went there? bob: i visited the locations in connecticut and george county. -- orange county. carol: walk us through what it is like. is equine assisted psychotherapy. someone gets time with a horse. there is nutrition classes, massage their pay, meditation, -- therapy, meditation, yoga. as jamison munro told me, it is the sort of place where the hard work of trying to get at the root causes of your addiction can happen in the most comfortable way possible.

oliver: horses, nutritional plans, these are not the things i grew up with. many other people did not. these sound like things that affluent people are always around. how does a rehab center, to combat that, employ the things the -- that are part of that affluent lifestyle? bob: it does seem counterintuitive. you can also argue that newport academy is part of a growing trend in substance abuse treatment that treats substance abuse less as a will power problem or a moral failing and more as an illness to be treated. if you can destigmatize the addiction and make the whole experience less punitive and more therapeutic, then arguably, you may be able to reach more people, particularly adolescents who will rebel if they are being punished anyway. carol: you said jamison munro does not believe in affluenza? bob: well, it is a loaded term and a per jordan term. he will not say that he thinks it is something that needs to be

treated. he will argue that everyone deserves specially tailored, cushy, nurturing therapeutic treatment for their substance problems. it would be nice if everyone could do it. carol: would he had all talk about the amount of people that come to his center who are dealing with affluenza? even though he doesn't like the term? bob: in the article, he talks about how money, is its own issue for kids, particularly in the way that they are parented. so from his own experiences, you , have kids who are given everything under the sun, but are also neglected by their parents. let's say, just for instance, dad is never around. and mom is never around either. she is doing other things and the kids are left on their own. they are suddenly adults. they suddenly have all the money and can do what they wanted to. there are researchers who say

this is analogous to children in poverty who are neglected by being in single-parent households or have parents who work. so what you get is a kid who , feels terrible, but then the message from their parents is, we have given you everything, so you have no right to feel terrible. so one of the things the academy , does is tell the kids they do have a right to feel terrible, and it is ok to feel bad about yourself. to feel even though you have belongings youl , still can have problems. for some kids, that is a breakthrough. oliver: that is very unique about treating this sort of behavior, the affluenza. in many ways, some of the effects of growing up this way crop up in a traditional kind of abuse. they have found something distinct here they can treat that will not be answered

in other sorts of rehabilitation facilities. bob: they believe, again, it is like a spaghetti hitting the wall response. with kids in particular sitting , them down in a 12 step program and telling them they have to admit that they are powerless over a substance, may not be the way in for them. the way in for them might be learning how to collaborate with a horse. going out to pick roses. making lunch for everybody. carol: etc. section is out with its annual giftgiving article. oliver: i am thinking -- how about an eco-capsule? carol: it is the ultimate giftgiving guide. everyone comes up with gift giving guides around the holiday season. what was your approach? >> retail therapy. we wanted to provide as many possibilities and 14 pages as possible. 78 items across that stance.

we looked for everything for things from your pet, things for your home, beauty supplies, and eco-castel -- and eco-capsule that will help you live off the grid. oliver: the first page is a ton of small stuff, some that i would not think of gifts. >> stocking stuffers, everything from jiggers to pour your cocktails, soaps, and net dog -- handknit dog toys coasters, , catchall trays, intense stuff you canners , fit into a stocking stuffer that is affordable and pretty cool. carol: including a handknit cannoli for your dog. i really find that fun. other things there is a , custom-made motorcycle made to order. just a few being made. and there are ping-pong tables that can be made into conference tables. >> we have a ping-pong table that is pretty cool that will convert and 45 seconds into a

conference table. if you want to make your table look like a start up five, you -- vibe, you can get your company's logo printed. oliver: this one was my favorite. a rug that wraps around your entire apartment basically. >> if you like to meditate, you can spend thousands of dollars on this iran a rug. carol: two things that we have got to mention, the audience is going to love this. this is the eco-capsule, over $80,000, and the private island. >> the eco-capsule hitches onto any sort of vehicle and lets you live off the grid. it is like a mobile home. you have solar and electricity. to power your electricity. actually powers the faucet. the battery can charge up to four days. oliver: "bloomberg businessweek" is available on newsstands now. carol: and also online. oliver: a lot of good stuff, but

what was your favorite? carol: i loved the russian spy story. so much activity going on in new york city. what was interesting, it was happening on wall street. people who you think are analysts, but are actually russian spies. a serious story, lots of details, but there are funny aspects to it. oliver: like a spy spoof, working hard, it did not get anywhere. carol: it will make a good movie someday. how about you? oliver: i like a more serious tone. election politics, the battle between california and potentially donald trump where they want to build a wall around legislative policies and retain their independence. i think it sets an interesting stage for what could be a quite a bit of conflict. carol: california has been very progressive on a lot of issues. very good. more bloomberg television starts right now. ♪

♪ david: coming up on "bloomberg best," the stories that shape the week in business around the world. bonds start the week with a sell-off. hopes rise for an opec output deal. hold the phone -- samsung is moving into cars. and janet yellen hints at an eminent rate hike. chair yellen: such an increase could well become appropriate relatively soon. david: the earnings reports just keep coming from u.s. retailers to japanese banks to european airlines. carolyn: we had a very resilient year. we have had a very good year. david: and the trump transition has the world's attention. big thinkers share their thoughts on what may be coming. bill: it is going to be much more corporate from the individual. joe: nationalism is for trade.