andrew lynch: at least in the short term. question is at what point do investors flip them and turn away from deflation to worrying about potential for inflation that has been created by all of the money printed? we will see that first in the very long-term bonds. only earning eight basis points to hold the german bonds 10 years. if it picks up 1%, you could lose money every year for 30 years. jonathan: the ecb -- at what point is it a bet against the ecb? andrew lynch: investors now almost on hold. they may be in "alice in wonderland." on the one hand, central banks say we want to create inflation. on the other hand, by bus to drive interest rates down. as some point, they become incompatible. jonathan: andrew lynch thank you for joining us. we's week 2 -- we speak to the ceo of portugal's largest electrical company. join us into -- in 2. ♪ jonathan: good morning. welcome back to "on the move." i am jonathan ferro. 30 minutes into your trading day. the ftse 100 is down by 0.3%. the dax is up i-40 two points. so big stock mov

lynch rule of investing in the '70s and '80s. i think we're going back to that. >> any knocks on the headline about this airplane? does that have any -- >> i think it does andrew? and really people talk about the great rotation. hasn't even begun yet. the american consumer walking down sixth avenue here is not convinced that we're in a recovery. and you hear about planes going down, hear about terrorism, hear about the election coming up. a lot of people are uneasy. when they're uneasy you freeze. and i think that's -- we're entering a short-term period where the retail investor could actually freeze here for a little bit. >> things keep coming up. 630 hours is nothing. >> flight hours. >> for the co-pilot. he was really young too. >> he was 28, i believe. >> i even saw younger. i don't know. how long did those guys in 9/11 -- they went and took lessons. it was years, right? >> years. six months to a year. >> not completely out of the question for someone to be -- to have gotten the stupid job in the first place. who knows. who knows what's finally going to happen but 630 hours. he wasn't a pilot for that long. that's a terrible thing to think about if that's