about. >> companies are navigating these once in a 500 year events extraordinary well and they will continue to do so. >> the consumer is healthy and we are unburdened by debt and we have the demand. the demand is there. >> there is not any pent-up demand. >> it is not an economy moving to a sustained level of growth, nothing structural has changed. >> this is "bloomberg surveillance" with john -- jonathan -- tom keene, jonathan ferro and lisa abramowicz. jonathan: good morning, this is bloomberg surveillance live on tv and radio alongside with tom keene and lisa abramowicz. your equity market into friday, all-time highs. up 0.15%. the payroll report around the corner. tom: the turning off of the anticipation of the jobs report, like you said there is a bed every morning like clockwork, and a pretty strong close

yesterday. jonathan: 725 the estimate. we will take it -- they will catch up with td. we will talk to priya, and the gloom of morgan stanley for the third quarter will catch up with them. tom: it speaks to what you talked about was the 10-year yield. we are not down to 1:12, but i one: -- 1.30 is not where the optimist should be. they say 1.50 or maybe the jobs report will move it. jonathan: 1.30 right now. it is good news bad news, bad news good news. lisa: a lot of people think that good news will be bad news because the fed will want to taper if there are signs the labor market is recovering, but it is not just the headline number. to me i want to see if there are answers as to why people are not entering the labor force sooner. his is a structural change or a matter of people getting back to school and less concerned about the virus? jonathan: did we get the answer

from this month lisa: lisa: last month? each month you get incremental data and as we get that data, people for more conviction. jonathan: we had a conversation ahead of payrolls. and whether you accidentally tune into a network like this one and talk -- and think what you sit -- what on earth are you talking about. lisa: that is not why they think that. tom: arsenal, as bad as they are, and i think they nailed it. there are two views to the market, but they all center around the grand assumption that the delta variants will at some point end, and that is the overlay. jonathan: let us turn to the price second -- section, the equity market up .7. we advanced by all-time highs into friday. how many times have we said that, record highs into whatever day.

1.30 on the bond market. it is not complete, i might slip. yields high by a basis point of two. the fx market euro-dollar unchanged. 1.1871. lisa: bad news for the markets, not the overall economy. that jobs report comes out at 8:30 a.m. and we will get that payroll number. the expectation is a little bit lower than last month, however it indicates ongoing strength despite the delta variance. that i am looking at is the participation rate, the idea of why haven't we gotten up to the pre-pandemic high? why aren't we seeing more people come into the labor market if we are seeing job openings climb to the highest levels ever seen? this mystery will not be solved today, but perhaps we will get some kind of input as the answer. the u.s. ism service indexes, this is important, this is

high-frequency showing the pace of how much the delta variant is weighing on the services sector. we talked about the call over at morgan stanley downgrading estimates. this is growth that might not be recovered. this is a loss to momentum and how much is this loss? perhaps we will get clues. 10:00 a.m., president biden is planning to speak on the jobs report i want to see how he responds to senator joe manchin. he had an op-ed in the "wall street journal" where he said that congress should hit a pause on the reconciliation and it is warranted because it will provide more clarity on the trajectory of the pandemic and allow us to determine whether inflation is transitory or not. all of a sudden the senators getting on the transitory train. jonathan: one support spending another three point $5 trillion. we will catch up with our washington correspondent a little bit later. on any stride day, payrolls take

the oxygen out of the room and there are stories that take mists. i want to talk about dd. this is according to people familiar with it. beijing's manageable government has proposed an investment that will give them control of the largest ride-hailing company and/or teams but the story together and they point out the following. unclear how large a stake is the city in, and point -- and .2 -- point two, whether senior officials have stakes. if you invest in these chinese names you are getting whipsawed on any morning. jonathan: it is a golden share a deal. i think of many china experts who say it is a light destination less federal -- it is a nation less federal and it is a -- it is more city state to city state.

you wonder if this is at the prep -- the federal level or if it is both. jonathan: trading at $9.14 and a free market, a ton of work goes into putting together a story like that. we nod our hat to the team at bloomberg. that stock is up 4%. i want to bring in randall, university of chicago school professor and former fred governor. payroll at 8:30 eastern time. what are you looking for? >> i think we were getting at the crucial questions, it is just the particular numbers. there are a lot of mysteries about what is going on the labor market. we are seeing a robust labor market, people are willing to quit. a lot of jobs are open because they know those jobs are open and they are willing to quit. so we want to see what are the professional -- pressures in terms of wages, what are we seeing in market participation and can we get some insight into

whether we will get more people into the labor market. among those people, the ones just exited they have said i've had enough of this, i want to retire i do not want to take the risk of the delta variance. i'm going to be happy out of the labor market. tom: i want to go all paul romer and do the technology overlay. do we completely underestimate with our distractions of a pandemic, gige tech and etc., the new technology overlay and what it does to our labor economy? randall: that is a very important issue and one of the reasons why the stock market recovered strongly because we have seen at first it was really driven by the technology sector, now it has rotated to be more broad because everyone can benefit from these were most sectors can benefit significantly from these new technologies that can enhance productivity, even when people are working from home and a lot

of people were -- like working from home. lisa: there is a huge debate going to the mysteries. a tight labor market versus a loose labor market and it goes to the technology debate which goes to structural changes. a lot of people cite data on both sides of the aisle, and it looks like both are correct. where do you weigh in on this? randall: when you look at people's behavior and say they are quitting in large numbers and you see a lot of job openings which suggests to me a pretty tight labor market. that people are willing to, because they are confident that they can get another job and we are seeing a lot of wage pressure. the key for the fed is that wage pressure can turn into significant inflation, which goes back to the productivity issue. if they are getting paid more because they are more productive that is not going to push overall prices up. if they are getting paid more because their expectations are prices are going up and i want

to get more and because i need more to buy what i am normally buying, that is a problem. jonathan: i want to go to your wheel -- tom: i want to go to your wheelhouse to the wall of liquidity from fiscal stimulus i have not really looked at the audit 1.1 trillion -- $1.1 trillion. what's confidence the phd's wrapped around chairman powell have that they can have an orderly unwinding of this record liquidity? randall: that is the trillion dollar question. and, i think that what they have done so far is unable to communicate moving from we are going to do whatever it takes to continue to asset purchases as far as the eye can see and saying we are starting to see recovery, we are -- we want to start potentially pulling back and they have done that without

really disrupting the markets much. i think that is an incredible achievement that the chairman and the others have had to be able to slowly move in that direction and i think it is the important and right action as recovery moves on. and not cause a tightening of financial conditions that would lead to a slowdown. most of it will be about communication and not about the phd technology. tom: the professor and i have the black glasses going. doesn't look good? jonathan: it looks good. tom: i am trying to dress like an august profession -- professor. jonathan: school of business professor and economics and fed governor. if you are wondering why this is down this morning there is a good reason for it. he lives on the 50th floor of his building and the left went down this morning and he had to

walk from floor to floor to floor. how did it go, how do you feel? tom: about 432 it was like really? robert had a walker at the bottom. jonathan: how long did it take? tom: i had to sit in the lobby and let everything calm down. we will look at this. con ed has been out there for two days straight at park avenue and 102 doing what they do. lisa: you talk about it every morning. tom: there are three helicopters, i could not get it in. jonathan: i am thankful you made it, everybody shares that sentiment. on this play roles is friday, equities. from new york, this is bloomberg.

ritika: with the first word news. supply -- a surprise announcement from tokyo, the prime minister says he will resign after failing to control the coronavirus surge, that leaves the liberal democratic party scrambling to find a new leader weeks before a general election. whoever becomes party leader is virtually assured to become prime minister because of a party majority in parliament. in new zealand, a man described as a known eczema -- extremist and terrorist attack people with a knife in a supermarket before being shot dead by police. the prime minister said that the man was a sri lankan national. six people were wounded and three were seriously wounded. investors will be watching as u.s. reports the latest on the health of the labor market. u.s. probably added 725,000 jobs in august a more moderate pace

compared to the last few months but risk of the delta variance could mean a softer than expected number. a job report is out at 8:3 dp at -- a.m.. the fff -- the afa investigates galactic. the agency is reviewing why the craft called spaceship 2 flew outside the area when it was clear to us -- clear to fly. 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. this is bloomberg ♪ -- ♪

>> the past few days of hurricane ida and the wildfires

in the west and unprecedented flash floods in new york and new jersey is yet another reminder that these extreme storerooms and the climate crisis are here. jonathan: the president of the united states. from new york city, good morning. i am jonathan ferro, it is payrolls friday and we are going into that job sprint a little bit later. fuster -- futures positive eight points. yields are higher by a couple of basis points. 1.3021. yields are low but some people are worried about the deficit, the debt pile, this from senator manchin, lease and mentioned it. some people in congress have a strange belief there is an infinite supply of money to deal with any current or future crisis and that spending trillions upon trillions will have no negative consequences for the future. senator manchin says that he disagrees. tom: there is a question, how

many senator manchins are in the house. jack fitzpatrick joins us. it is labor day, nearly the launch of the 2000 22 campaign of primaries and elections, but we need specifics 101 on this labor day, are the democrats avoid -- overtly giving up their majority? is that the tone in washington? jack: no, they are not there yet but they are having trouble. the manchin statements were a surprise, because in order to get all of this done including infrastructure bill, they need to act fast. the idea that manchin proposed of taking a pause goes against that. he voted on a measure to set the stage for this next $3.5 trillion bill with a deadline of september 15, wednesday after next for the markups, and the goal is to get both done in

september. the longer you wait the more the opportunity is for there to be a politicized back and forth to sort of tie this into 2022 concerns. there will be some back and forth on the extent of the bill, the size and all of that. but, the timing is important, and that is where his statement is perplexing because they do not want this debate to run into tom: tom: other things. where are the -- other things. tom: where are the manchins in the house? jack: it is equally as difficult. they had a hold up in voting on the budget resolution that sets the stage for the bill. there were nine members really led by josh gottheimer of northern new jersey who did not want to vote for that initially without doing infrastructure first. the reason that there were

promises that infrastructure would get a vote by september 22 or 27. but the idea is to try and get the social spending and tax bill done first. really that is what puts them on a fast schedule. if they wait too long there will be a lot of frustration on both wings. tom: let us -- jonathan: let us build on the question, do they risk losing their majority because of the things that they do, or the things they will not do? jack: probably both. if you do too much you will take criticism. you do to little you will take criticism, especially establishing a child tax credit that then could expire, not acting to extend that would hurt democrats, i am sure. but the idea of a bill that actually totals $3.5 trillion in the tax increases that they are talking about, that might weigh on them.

the first midterm after the presidential election is a tough one. part of the motivation is what is get the things done that we all can agree on getting done because they are probably going to lose the majority in the house or senate either way. lisa: i was reading the op-ed and i noted that a strategic pause, that is what he wants. is a strategic pause the new transitory when it comes to looking at the jobs data and inflation. is there a particular measure or time period that other moderates are looking at to gauge the inflationary impulse in the recovery in the u.s.? jack: if there is it has got to happen fast. he did mention his concerns about inflation, but again if this is fully paid for as the democrats say they want to do, you could be skeptical. if it is, that would seem to take care of the inflation concern. again, even manchin voted to set

the september 15 deadline for marking this bill up and had really agreed on the basic parameters of trying to move quickly before making the statement that they should take a pause. according to the way they have outlined this process, there is not a lot of time to waste. lisa: just to sort of switch gears, i want to end on the situation in afghanistan and compare it to china, the idea that we are looking at the taliban saying they want china's financial assistance and they already have it. how is the u.s. of tailing their approach internationally as they try to see -- to keep center stage at home. jack: the financial assistance question with afghanistan is a pretty key one, that a little bit of a confusing one from the u.s. perspective for now. the biden administration has said that they have a lot of leverage over the taliban in part because of u.s. control over the afghanistan central banks assets, that is supposed

to help them in negotiations to get people out of afghanistan, so really they have not detailed a plan for how they are going to interact with the taliban and what the relations will be. which probably puts a lot of pressure on the taliban to look elsewhere for any kind of financial resources. jonathan: we have got deleted there -- leave it there. good to catch up. tom, let us reset and go back to the op ad larry summers earlier when this administration passed the bid fiscal as art and larry summers pointed out it risks overheating the economy and two it risks taking the oxygen out of the room for infrastructure spending. you can say the first point is still up for debate, on .2 i think you cannot. i think it was correct, it has taken the oxygen out of the room. tom: it is not our job to give an opinion, but a huge body of experts in both sides of the political aisle would say you

have overreach with a double linkage of these two very large bills. that is an original concept, i would suggest and it will be tension -- tested. manchin wants a separation. lisa: w he -- he wants a pause about inflation, but what inflation is he looking at? it comes down to the labor market. all eyes are on how much wages are going up and how tight the labor market is. that is why i am interested in what president biden and marty walsh has to say. jonathan: roundabout 9:35 eastern. a little bit later. market up nine on the s&p 500. pewter is advancing around .2%. 700 -- 725,000. the range is always wide and has been every first friday of the month, every single month of this year. it is from a million down to 400 k. this is the arts on a darts bird

-- darts on a dartboard. coming up, ellen on her guest for this jobs report and the view on what is happening in the third quarter. looking forward to catching up with her. morning on this payrolls friday, this is bloomberg. ♪

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>> the growth remains strong.

so far, the cannabis sector seems to be holding up very strong. jonathan: live from new york city, for our audience worldwide on tv and radio, this is bloomberg surveillance. the payrolls report in a couple of hours time, looking to set the tone for the market going into the fed meeting. equity futures adding some weight. record high close yesterday. this money come up .02% on the s&p 500. advancing more than a tent on the nasdaq, and .4% on the russell. yields higher by a basis point or two. i want to put two research pieces together from bank of america about a month ago where they said they sit on a threshold of a bifurcation of

scenarios. the new trends need more confidence than data can easily provide. the data this morning may not provide confidence. that is the problem -- when you are at an inflection point, one data point does not get it. we're still working our way through it. tom: i will give you the midcycle transition, but it is the overlay of the uncertainty of a medical event -- a natural disaster -- the team at bank of america, all of them are dealing with what is called -- peter bernstein would say this is not risk, ambiguity. we are dealing with true uncertainty. jonathan: for that reason, if you getting this, a downside surprise, is there any proof of how good demand is? for the labor market, maybe not. the problem has been supply. you see jobs opening skyhigh, compensation through the roof, and struggling to fill positions. tom: i did this on twitter when

i was walking down the stairs -- i got to the 32nd floor and took a twitter break. target, amsterdam, $13 an hour, $17 an hour, 41,000 $600 a year base pay plus a $3000 signing bonus to walk in the door. jonathan: i woke up this morning thinking you might be considering a career transition. tom: you know. they have a walker for the bottom of the skyscraper. jonathan: we shouldn't joke about those things. tom: we shouldn't. violating my hr rights. jonathan: that is than my crutch for a long time on the program. euro-dollar, unchanged. perhaps opening the door to test 1.20. the data, one -- one point 1870.

tom: the upset of the prime minister -- the stunning resigning, or not running, and japan. right now, carl riccadonna joins us. carl, you are so good at saying there are two reports, 42 pages, but here's the one thing i am looking at. what is the one thing you're really looking at. carl: the one thing we are going to have to focus on in today's report is revisiting the k everyone was talking about last spring when coronavirus broke out, and also as winter months rolled in, where we saw a re-weakening of the winter wave of the virus, and the well expected categories like leisure and hospitality, retail, whatnot, starting to show signs of frailty as the second wave got underway.

this time around, it is obviously the delta variant. we have seen frailty and restaurant bookings, hotel reservations, airfares, it said her, but not a collapse by any means -- it is not what we saw in prior instances, but we are certain to see some fading momentum. we have to filter out two factors -- we have seen some unusual, seasonal factors around education hiring. also take out at the very least leisure and hospitality sectors, then you look at the core, underline momentum in the economy, and last month, the number was closer to 300,000 than the 900,000 headline print that we saw. tom: if i plug in 725, every three-month moving average of 869,000. where is our patients? don't we just have to wait for a

recovery? carl: i think we are going to have to wait for the recovery, and some signs are certainly pointing to a weaker than expected number, or a weaker than consensus number in today's results. i don't think it is a game changer in one way or the other, but it will start to beg the question of whether the timeline jay powell laid out at jackson hole for tapering can actually hold, or if the taper has to be nudged into the first part of next year. when we get a sense of the underline momentum, we will have some clarity on that front. but, in contrast to what your guest, randy crossman said earlier this morning, in the minds of jail just jay powell and lael brainard, i am not so sure they see a tight labor market right now. as lael brainard looks at the economy, there is an employment gap or deficit of about 8 million jobs. in jay powell's mind, comparing

it to the february, 2020 level, there are 5.57 workers that -- million workers that have not been replaced. some of those are retired, but the way they are thinking about the economy there is considerable slack in the labor market because those workers have not been reengaged to the economy. if we start proceeding with normalization before that substantial further progress has been achieved, then you really do risk economic scarring from the pandemic becoming a real issue, and jay powell from the very start has said it is his priority to ensure that does not occur. jonathan: let's have that conversation -- what separates the doves from the super doves. i am not sure there are that many hawks. is it the participation rate that separates the views? carl: participation is a core

theme underpinning this issue that brainard and powell are so focused on. we can see labor participation basically back at jimmy carter-era levels and we know that is not normal for the economy. tom: i have to interrupt -- this is too important, carl riccadonna, are you saying there is a carter malaise? carl: i am saying the risk is we could create a carter malaise if the fed rushes to normalize policy, and it was very clear not from this jackson hole, but last year's jackson hole that the fed has accepted a different mandate and realize they are operating in global phenomenon of low inflation, low interest rates, and this gives them the rundown of moving gradually toward the policy exit. if they move too quickly, they are hanging the 5.7 million -- the number i mentioned for jay powell --they are hanging them out to dry. for jay powell's mind, moving

forward with 5.7 workers not yet reengaged, not the substantial progress he has been telegraphing. jonathan: so it will come down to communication, and lisa, let's talk about this -- the conversation on qe on one hand and rates on the other, can the chairman separate the two, and i have been asking to what degree does the clock compromise the effort on the 22nd? lisa: and to what degree does the uncertainty in the data undermine the data because if they are data dependent, we are looking at a different landscape to predict and if they say they are going to change their minds based on that, it really does come down to that. i wanted to talk about what you were talking about, carl, the 8 million job openings, the structural gap that they say the labor market has a lot of slack. what evidence are they pointing to them the granular data that

people have not left the market, had an existential crisis, went back to school -- all the things we are looking at carl:. you can look at the top-level unemployment statistics. we can see transitions and labor market, and what we know is certainly there has been an outflow of retirees, but that does not explain the collapse in per dissipation we have seen. there are a lot of working age people, and young people that are not reengaged. the fact is parents that are not able to return to the workforce, if they have kids at home doing remote learning, and that requires some level of supervision. childcare issues is one. fear of the pandemic and the health consequences, especially for those who are vulnerable, is another issue. the third factor is the sweetened unemployment benefits, which have made it more appealing to sit on the

sidelines and collect an unemployment check rather than return to a minimum wage job or a minimum wage adjacent job with very low benefits. rewinding real quick jonathan's point, let us not forget the messaging from jay powell the last time the dot plot was issued and there was so much excitement about potential rate hikes creeping into the horizon, and jay powell said they should be taken with a very large grain of salt. he said we did not even discuss interest rate lift off at the june meeting. he did everything in his power to downplay the potential signaling from the outline dots, and of course we have to filter out the hawkish. from that picture, too, so i think the divorce from taper and rate hikes was established well before the jackson hole speech to those who watch the fed closely. jonathan: it drives us all nuts.

if we shouldn't look at them, why are they there? tom: don't get me going. jonathan: carl, why are they there? carl: they are there to prevent some sort of dish present some sort of framework for how policymakers at the can about the economy. tom: please. carl: it is not meant to provide a clear forecast. tom: carl riccadonna and i closed a bar a couple of years ago talking about the dot plots. carl: it is a useful tool. don't scrap it. lisa: bad news. tom: thank you. jonathan: lisa talking about an existential crisis, someone walking down 50 flights of stairs this morning. tom: i want to talk about the carter malaise at some point this morning. jonathan: we can do that later this morning. lisa abramowicz, jonathan ferro.

tom: if i take the second one on my knees, does that work? ? jonathan: it is payrolls friday. this is bloomberg. ♪ >> the race to secede japan's prime minister is seen as wide open, saying he would resign after failing to control the coronavirus search. whoever becomes the next leader of the party is assured of becoming prime minister because the party's dominance in parliament. it is a tax settlement that is one of the biggest in -- the bill in their founder of renaissance technologies and his colleagues will pay billions in back taxes to resolve the case. senate investigations peg the amount at a minimum of 6.8 billion dollars.

new york and new jersey learned that the older norms of wealth no longer apply. the remnants of hurricane ida killed more people in the northeast then it did on the gulf coast. european union and astrazeneca have ended months of bitter supplies for vexing suppressed. they fell behind the u.k. this year. global news 24 hours a day on air and on bloombergquint take, powered by more than 2700 bloomberg analysts and journalists. this is bloomberg. i am ritika gupta. ♪

tom: what do you predict the

taliban will do in the coming years? >> i would say consolidation of power, this is the priority, not supporting jihadi, not any activities outside of afghanistan. if you really watch carefully, what the taliban have done in the past few days, they are engaged in public relations offensive. they are trying to convince the world, if you listen carefully to what they are saying, you think that the taliban are newly born democrats, peacemakers, and the reason why is they want to consolidate their power -- they want to convince the world at the television have changed.

dr. fauci: even when you have variance that diminish somewhat the efficacy of the vaccine, the vaccines are still quite effective. bottom line, we are paying attention to it, we take every thing like that seriously, but we do not consider it an immediate threat. jonathan: dr. anthony fauci right there. your equity markets shaping up as follows -- your estimates, 725,000, your numbers, up .02% on the s&p, a record high close on thursday session. with a to add to it. yields are higher by a little more than a basis point. euro-dollar totally unchanged -- 118 71. sit tight. the payrolls report just around the corner. tom: on labor day, we will talk about the sanity of american medicine.

bloomberg, a philanthropist to johns hopkins university. andrew, this is what gets me going -- it is what i studied in school -- we have miracle drugs in animals that cure heartworm, any number of things, and we have people taking ivermectin, etc., to cure covid. how does the medical unity respond to such madness? andrew: we try to respond with the facts. tom: that is not working. i don't want to cut you off, how do you get biden to get the celebrities these clowns care about to actually say go get vaccinated -- where are the celebrities to tell these people you have to get off the heartworm drug and get on the

back office method? andrew: i think you are actually one of the things we have not been able to do effectively is communicate the safety and efficacy of the vaccines in -- the right way to a large swath of the population and we leave open the opportunity for things like this ivermectin self-medication tried to take hold and go out there because we have not been able to infiltrate into those social media chains that are propagating that misinformation. it is a massive communication problem now than it is a scientific data problem. lisa: even beyond just the people who are against vaccines, or against a vaccine that is this new, there is a question about the efficacy of the existing vaccines against the new variance, talking about delta, something about mu, which anthony fauci highlighted a something they are watching --

there is concern that just having a vaccination does not really protect you, especially if you have to re-mask. how should the communication change when it is unclear? andrew: well, i think it is clear that we are still seeing a good amount of protection starting with severe disease, moving to hospitalization, and even going down to symptomatic infections. yes, delta is a stronger variant than we have seen previously, and it is knocking on the door, banging on the walls harder, and we are seeing more breakthrough cases with delta then we saw with previous variance, but the vaccines are still working. all you have to do is look at the number of cases and hospitalizations and break them down into vaccinated versus on vaccinated, and you will see it is the unvaccinated population driving everything. lisa: does it undermine the communication with this exact point, the vaccines do protect

against severe illness if they reinstate travel bans or don't allow people from other countries to come here who have been vaccinated with proven to be efficacious vaccines? andrew: i think there are some political aspects, if i could use that term, that make the message a little more murky. we have our own problems here in terms of the pandemic and controlling it, and that should really be our primary, sort of, aim. it will really be vaccinating the unvaccinated that gets us out of the situation. boosters will help protect against severe disease and sent -- certain populations. travel bans rarely work. lisa: would you go far enough to say they are hurting the message from the administration? andrew: i do think it models the message because it takes us away from the primary goal, which is a difficult one to get across to

people, but it comes down to here in the u.s., vaccinating people, and going globally to make sure the unvaccinated globally are getting vaccinated. tom: on a labor day with great respect for your academics, the fact is technocracy has tried to speak in tech grammatic language to a part of the public that just cannot deal with that, and my answer is, you have walker jesus as the number one single on the country charts -- you get her out there with a guy like you putting needles in arms, saying let's go. i don't get where the celebrity owned is to these people that say this thing is not going to kill you. andrew: i will also add to that we need to take a much more personal level communication. the people i have talked to on a one-on-one basis that are vaccine hesitant, it takes 15, 20 minutes of one-on-one conversations, but you can see

people understand and start to realize what the benefits are of the vaccine, and what the misinformation really is. i realize that is a labor-intensive way to communicate, but it is probably the more effective way to communicate than trying to do these nasa -- mass media campaigns. it takes more effort and a sea change in how we approach the communication, but i think that is the way it is shown effectiveness. jonathan: dr., have to run. thank you, sir. professor and virologist. you have been making that point for a long time, i will give you that. tom: in london, the united kingdom, are they taking head lice for covid? jonathan: i have not seen that. tom: exactly. it is not funny. it is nuts. jonathan: it is nuts. would it make a difference --what celebrity would you like? tom: i would start with

president trump i thought it was a disgrace that he hit he was vaccinated. jonathan: do think there is a correlation between president trump supporters and their distrust of government and if the president told supporters to get the vaccine it would make a difference, because that is not why they support him. tom: ok. i will go there, but on a labor day where we are with all the challenges, 82% vaccinated over 65% --65 years old. jonathan: it goes beyond just trump supporters. minority groups as well -- there is a genuine and in some places justified mistrust of government, and actually it has spilled into this conversation. tom: they will do it differently in singapore -- look at the new headline -- it is a different cultural approach. jonathan: italy is considering mandating the thing as well. different countries omit different decisions.

up three point -- up .3% of the s&p. would you like to sing to break, what is the number one country song? tom: ♪ feelings ♪ ♪

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these once in 500 year events extraordinarily well. >> the consumer is very healthy. we are unburdened by debt. we have the demand. >> there isn't any pent-up demand. it's not an economy new into sustained growth. nothing structural has changed. >> one central bank is tightening further, you should expect currency appreciation. >> this is bloomberg surveillance. jonathan: it is a payroll friday. good morning matt, good morning. this is bluebird surveillance live on tv and radio. i am jonathan ferro. your equity market record highs, futures up 8. payrolls report is 90 minutes

away.