hello there i marinated this is boom bust and these are some of the stories that we're tracking for you today. first up sex discrimination lawsuits are abound this week and one old school company goldman sachs and one new school company tender are both having to answer to their questionable behavior we'll tell you all about it coming right up and daniel alpert is on the program today he's the author of the age of oversupply and he's sitting down with me live this afternoon to discuss the economic limbo that the u.s. seems to be kind of stuck in right now and sports headlines this week have been dominated by i don't know soccer yet maybe a little bit of it with the world cup but the wimbledon final they're happening

this weekend in today's big deal edward harrison wired the thing money in tennis and there's way more of it in tennis than probably. i'm going to get to. our lead story today women in the workplace or maybe more appropriately put women suing the workplace now there are two pretty prominent stories making business headlines right now involving powerful women suing their former employer one of goldman sachs and one it tender the start up dating app company now let's start with the tender story with me will a former marketing v.p. at the popular dating app is. suing her former employer for

a tro she has sexual harassment and sex discrimination that's from the lawsuit itself now the lawsuit filed against both tkinter and its parent company i c which is owned by barry diller alleges that tenders and chief marketing officer justin meting and c.e.o. sean rad repeatedly called miss wolff a whore and revoked her title because quote having a young female coworker co-founder would make the companies seem like a joke and devalue it disgusting now meanwhile over goldman sachs two former female employees followed a lawsuit against the firm alleging wall street sexism now the suit was first filed back in two thousand and ten but on tuesday the women asked for a judge's approval to expand the suit claiming women at the investment firm were paid less and awarded fewer promotions than male coworkers goldman says the suit is without merit but the new filing on tuesday details allegations of rampant sexism and harassment at the firm saying quote this constellation of evidence reflects

widespread concerns among women about gender bias and a boys' club atmosphere sexualization of women and uncorrected culture of sexual harassment and assault. the suit describes company sponsored visits to strip clubs and golf trips that were designed to intentionally exclude women along with a push up contest at the office how old are we and on one occasion where female v.p. was allegedly pinned against a wall and groped by a male associate who had walked her home not very hospitable now this is all very very bad stuff and the portion of this suit that got me especially fired up which you might be surprised about that really got me fired up was that the complaint allege that female d.p.s. at goldman earn twenty one percent less less than their male counterparts while female associates earned eight percent less the claim also pointed out that twenty three percent fewer women d.p.'s earn promotions to managing directors now listen i

mean wall street has been the subject and fascination of people for decades because of its seedy crooked immoral bros only environment and today the startup slash tech world seems to be attracting a lot of the bros that would have formally been drawn to wall street but the first battle that needs to be fought and immediately is for equal pay for men and women in the workplace i do hope that these women when there's respective suits but more than not i hope that they go on to work full careers and don't get cast off to a world of big settlement unemployed ladies that is not the point of all this ladies now men and women are different and we ladies have to be smart about what we have to fight for and in my book equality at the very very least on a pay stub is imperative today.

that these economy isn't just in a muddle through state it's in some sort of limbo kind of q one growth had two major downward revisions and the mask. monetary policy experiment by central banks hasn't really produced c. expects expectations or results that we were hoping for now still the economy isn't doing terribly and many analysts foresee better days ahead but i'm wondering if people are kind of a little overly optimistic about the future right now so to get a better handle on this i'm joined by daniel alpert the founding partner of westwood capital and the author of the book the age of over supplies so daniel first and foremost thank you so much for being here with me and being back on the show and you know a lot of people becoming on the program lately and saying that the u.s. economy is doing better and i don't doubt that for a second it is clearly doing better but you know i'm still worried about wage growth and high debt i just levels in general so what's your view on what's going on out there. well i think the first question i ask is better than what you know

obviously the first quarter of this year was in better than anything it was a hell of a lot worse and yes we do see some monthly fluctuations and some of them are positive but not every not every piece of news is bad obviously in order to get to even two percent growth for the year we're going to need to see some pretty strong numbers in the three quarters that remain to be reported whether that's going to show up in this quarter's numbers i think there's a lot invested in that people are thinking you know they have some people out there thinking you're going to see three and a half percent growth on an annualized basis in the current in the quarter just ended whether that happens or not we'll find out soon some of the statistics do point in that direction but then you have to look at whether or not this quarter's just been a bounce back from the first quarter is absolute disaster so it's going to be very very interesting to watch. we had enormous growth in the u.s. economy fostered by bubble that of core of sorts in the housing market that bubble

that has kind of run its course will go into the many reasons why it happened but let's just assume it did and we're not going to see the kind of upward price pressure from housing that we saw and that price pressure in housing really did drive a good deal of the increase in c.p.i. n.p.c. is anemic as it was during two thousand and thirteen and into the first half of this year where that's going to come from going forward i'm not so sure i do believe that we've seen the services economy rebound a little bit people have a there you are seeing some elements of the normal virtuous circle that you expect to see in an economic expansion where people are being paid work but you know look at the wages that those people are being put to work at you go look at the types of positions there again better than last year so. certainly not anything to write

home about now daniel the ten year us sovereign bonds are only yielding barely over two point five percent and that's pretty low for an economy that's supposed to be accelerating now is this that rate expectations inflation or the economy what would you say. but i think the sort of temporal movements that you see in bond yields from month to month obviously are a lot to do with economic statistics the longer term say six months to a year movements that we've been seeing certainly the enormous decline in yield since year in two thousand and thirteen really reflect the overall global environment which is one of relative disinflation if not deflation in certain parts of the world very very little price pressure very little economic activity when you consider the developed world as a whole as opposed to looking at a little bit parts of it even the us made in the in europe for example we have an incredibly unbalanced environment where germany is the only really strong economy

in a place that has incredibly lackluster growth and inflation. and you look at the u.s. economy and you're tempted to look at it is though it's one unit and obviously in comparison to two very balkanized europe. you know euro zone where you have all these different countries and they're all. pursuing different policies because they don't have. real unified fiscal system the us is also very regional economy and i think people sometimes don't really focus on that we're seeing very very good growth in some areas of the country and in others it's incredibly lackluster so. it's difficult to look at. any of the advanced economies individual e. and not look at the the total package and i think when you look at the total package you're seeing. global growth obviously there was

a great report put out at the beginning of this week. claudio. the bank of international settlements terrific terrific piece that he wrote and he he he hit the nail right on the head when you look at the advanced nations are not doing very well then i want to ask you i know that the last out out of the u.s. commerce department should retail spending in the u.s. actually dip when adjusted for inflation given manufacturing survey showing production and new orders rising is this a case of inventory stuffing or is the retail data skewed by some other factor. well inventory stuffing channel stuffing was what we saw at the end of last year when and we saw it you know really very harshly and i think a lot of the numbers that were coming out at the end of the fourth quarter two thousand and thirteen everybody was optimistic some people myself job would sway us a bloomberg a few other folks were commenting that this was in fact channel stuffing it was

going to we were going to feel the the ill benefit deal of facts of that rather in the first quarter well of course none none of us were weather forecasters we also had some bad weather but yeah i think but i think we were very we were very good forecasters when it came to the impact of inventory stuffing and and that's what happened now again you're seeing inventories relative to final sales again diverged so the question is have we just seen a movement of him in tory's that became during the bad weather of the first quarter and is that really reflecting in demand and i think that's the sixty four thousand dollars question in all of this is what is in fact the strength of ben demand now not to beat a dead horse here but dan if you look back to back at q one the u.s. economy contracted at an annualized rate of two point nine percent and as i told guess at that time this wasn't all weather either it could've been now rearview

mirror or not that's him and i mean huge fall so how can this data point not be relevant to the underlying strength of the u.s. economy. well it's certainly relevant it's certainly been relevant to the bond market i mean you can look at the equity markets in the bond markets as having radically diverged again this isn't the first time since the recession that they've done so but certainly they're not seeing from the same hymnal the bond market reacted very very strongly to that data you saw fields in the ten year drop almost you know twelve thirteen basis points. and that clearly signaled a trend for for bonds the equity markets have responded differently and are basically being driven by what i regard as a very very sharp bear market rally. now i want to ask you do you think that the fed's ultra easy monetary policy is justified and why or why not we only have thirty seconds as i give you how the fed's follow the fed's policy certainly was

justified when they when they started it but at this point i think the fed realized certainly by. late summer of two thousand and thirteen that q.e. was actually creating more problems more dislocations than the benefits of it were that were being created we're worse we're still sort of in that mode the markets are used to the notion that the fed's going to exit q.e. they're going to they're going to level the wings on the plane and they're going to see if it flies but i don't think current data really is all that dispositive at this point i'm very sorry to cut you off we have to have you back on very soon but we have dan alpert thank you that you're new to your two and that was daniel operator author of the age of oversupply. time now for a very quick break but stick around because when we return john these will be on the show john sat down with me to discuss the future of the u.s. and u.k. economies and the wimbledon finals are this sunday and in honor of the occasion

edward harris and i are talking about money in tennis in today's big deal and remember you can see all segments featured in today's show on you tube and you tube dot com start on hulu at hulu dot com. now before we go to break here are a look at some your closing numbers of the bell come on back with us. but we're going to do. that you know the price is the only industry specifically mention of the constitution and. that's because a. free and open press is critical to our democracy trek albus. role. in fact the single biggest threat facing our nation today is the corporate takeover of

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to be in the. welcome back to the show now we explore the numbers behind a potentially stronger u.s. economic recovery with daniel alpert a moment ago but as a point of comparison we wanted to bring the u.k. into this whole story so i spoke to john as these now he's the economics and business correspondent out the week dot com and gets we want to get his idea and his view on the future of the u.s. and the u.k. economies and i first asked him how the u.s. and the u.k. economies are doing here's what he had to say. the existence isn't a slow. the u.s. has done a lot a lot better you know if you look at real g.d.p. since two thousand and eight u.s. is one of the best performing economies in the g seven whereas the u.k. is actually one of the worst it's ahead of only it's late so but you know right

now the u.s. just had a massive setback with g.d.p. last quarter and the u.k. has actually grown quite well but you know i tend to i tend to say that the the signal is the long term trend and that the noise is the short term trend so i tend to say the u.s. at u.s. is probably in about a better position to weather the storm. than the u.k. but you know it's we'll see we'll see how this how this develops over the coming months should the fed and the bank of england raise rates in your opinion i think they should raise rates if sorry if if if inflation rises above that's all get an unemployment falls below that i'll get the only way only way to go you know is that the u.s. is still doing because they'd be easing it's whether. it was such a huge or so urgent huge setback. in first quarter growth it would i

thought i think terms to raise rates now would be. very foolish actually but you know. at the end of the year you know if inflation takes up at two percent you know if we have two two or three more steady course of the growth and unemployment falling then it will it will certainly be time to can said to get did least because this consider raising rates based on the fed's you know objectives of two percent inflation and you know less than five point five percent unemployment are you concerned that negative real interest rates cause resource misallocation and a credit bubble. i you know i guess. it depends on it depends on a lot of things. negative real interest rates they are there obviously it is an incentive to invest right but whether that's going to whether that's going

to go to misallocation of capital or you know a beneficial location of capital really depends on people's mindsets in the market . and i think a lot of the growth you seen is sustainable and healthy and maybe a lot of it is bubbly and debt driven. but i think the the bank for international settlements had a report out yesterday and it showed the comparison between the change in that verse is g.d.p. growth and actually that the countries with the most debt driven growth. you know china and brazil and the u.s. and the u.k. were actually actually looking wrote at least sustainable so i guess i'm in the u.k. there are there probably are a number of factors i be a little bit concerned about with for example housing housing in london. and in the u.s. maybe maybe there are there are certain markets maybe technology stocks that are

a little bit bubbly but right now i you know i wouldn't i wouldn't i wouldn't be overly concerned about real interest rates i'd be i'd be i'd be really concerned about trying to get a handle on unemployment and get it down below that five point five percent john why have the fed keep interest rates at zero with real interest rates negative when you can use fiscal policy to deal with the slack in the economy. well that's that's absolutely true but i mean i think the answer is congress isn't really. you know the appetite of fiscal policy from congress is pretty much nailed you know but we can dominate dominated house who believe you know passionately in austerity which is what david cameron over here believes and he believes in the the virtues of. you know confidence from from austerity and i thought you know i think that's what you know people like john boehner. in the house believe in. so you know you

if you can't get out you've got going to another stimulus bill cost then ultimately . the fed's going to be the one carrying the can right but. you know with. the evidence i've seen from the bank of england which is that things like one stage of easing actually helps the rich much more never one else maybe that is something we should be worried about now the british council george osborne has focused on austerity and he says that this focus is behind the improvement in the british economy is he right. i think the evidence is the there is a lot of confidence with businesses but whether or not that actually is a product that was thirty would be a very controversial argument because they were they were doing austerity you know four years ago and three years ago and the confidence wasn't there then so is is is the confidence a product of a you know just just a just you know as keynes said you know in the long run the sea is flat and

everything recovers and you know markets tend towards growth and and so on or is that case of us there is it working well you know we've had in britain we had a worst recovery from the two thousand and eight slump in the great depression so i think right now the signs are the austerity. it doesn't look so good and. you know the united states that north a lot better than we did and you know they had much stronger fiscal stimulus so i think i think it. too long right outlook is good for keynes and not so good for us bomb or the british right to stay out of the euro yes evidently yes because. there are very few countries in the eurozone i didn't particularly well and with britain's britain's economy being driven by its financial sector a lot of a lot of the economies in the euro zone there was a similar profile of britain like ireland and spain. and italy.

pretty terrible. other your are right now germany is doing well in britain britain's economy isn't not at all like germany so i think i think. britain staying out of the euro was very beneficial. because the way that currency is constructed it's not it's not well designed for these these these kinds of shocks and these kind of prolonged. depressionary variants. the fact that we stayed out of the euro is an accident based upon you know i think british nationalism. the idea of want to keep keep keep our own currency if the euro was a properly designed currency with you know proper fiscal transfers then i think britain's entry into the euro. wouldn't be so bad but i don't i don't think it's a well designed currency and that's that's the issue. that was john econ and

business correspondent the week dot com time now for today's big deal. big deal time with edward harrison and today we are discussing money in tennis fun stuff tennis so the sport that's hogging headlines this summer is cricket of course soccer and it's all thanks to the world cup but we're a boom bust we're also big fans of tennis and wimbledon is underway at the all english lawn and tennis club that's basically went wrong doris's for the french it's what it's called so i want to check in what's going on in the world of tennis in terms of money so edward before we begin first and foremost and this is important because i want to tell well you know i noticed that the beginning we had this whole thing on the boat with maria sharapova i mean obviously so we have to

reassure pro and she's one of my favorites but she's already she's gone right now with it so i have no idea when that. i'm going to go i'm going to go with andy is he's going to have is you know you know i'm going to go with joke of it's after that to be honest i'd much rather federer that's what i was saying i think that he can win because joke of it's one five sets today but it was ok now to what our show is a business so business insider ran a list of the highest paid dennis players and we chose the top three earners of both men and women now and we're can you break down the numbers here of the earnings for each of these players and tear up the yeah i think we have a chart here you can see federer yeah earning sixty eight point two million dollars he's number one and we've got roughly on the dial he is at thirty five point six and no that joke of it comes in third place at twenty six point four for the bill when the woman maria share both the number one and six twenty six point five.

followed closely by serena williams with twenty four point four million and. nineteen million wow that is really cool actually i really like looking at the sponsors for although. i don't know a lot of an adult really i don't know obviously americans didn't shout that there was a they made you know you know they're like oh you know actually that is true in germany they do yes i was looking at that i don't know what's their level and i was going around anyway i said they're hiring interventions and even edward watches out you hear in terms of how endorsements are kind of distributed and and the money is allocated you know you see a lot of repeat sponsors with a bunch of people obviously but really what what's the standout for you well you know i looked at a bunch of other sports like you know and federer he's huge in terms of sponsorship what i noticed is that you know tennis you know they have huge amounts on the sponsorship side and so there's golf but when you look at the earnings for other sports like boxing or like even soccer football you know those those sports they

didn't have huge amounts it's because maybe the sponsors are going for the high you know like people with high net worth following tennis or falling golf that is that you know it seems that i wonder if it also has something to do with the fact these are individual sports it's harder to you know like a team you have some player in the team can do something devious and you're no longer going to be associated even when you only have one player that you are going to put it on that's a risk reward there because they get injured too because you when you think about this the biter later. who you know everyone he lost a sponsor because he was biting this guy can't do it tiger woods you know he had a huge debacle but he came back whereas lance armstrong obviously he's never played back so probably get away with doing something there you go and blade runner you can't get away with stuff like that ok off color sorry that's over now for you. very very is that we check out our facebook page facebook dot com slash mumbai as

our team. and please treat out as an aide at edward n.h. from all of us there but thank you brought to most the next time. as a new physician i swear to abide by the hippocratic oath. to the best of my ability and judgment. i will prescribe for the good of my patients. i will not give deadly doses to anybody. or advise others to do so. i will never do harm to any one. doctors of the darkside are to. choose your language. killing the killer though in federal court today still some of the. choose the news

the consents to. choose the opinions that invigorating to. choose the stories that impact the life choose b. access to office. with the economic ups and downs in the final months they belong to the deal and the rest of it will be every week on all things. do you believe that people in your brain should have been. given an opportunity to vote to have a background on whether or not they want to sign this agreement michel

a number one i mean looking good the public opinion poll i don't think really that is that divisive as you say my number two. i'm up against her for and on and particularly where of sure if arindam if you sort of pasta part of your super initiative to. let's say and then brussels then nothing it is up to the people to decide.

most what minute deal. with people who are you to know what you have the air raids ordered by kiev devastated a small village in eastern ukraine are correspond reports from the scene only hours after. the deadly attack. while in the ukrainian city of kramatorsk residential areas subjected to heavy artillery fire overnight with reports of more civilian deaths and injuries. through so i'm seeing it's because clashes in years triggered by the killing of a seventeen year old palestinian as israel launches airstrikes on gaza and vows to avenge the deaths of three jewish teenagers plus.