with final thoughts, frances donald, michael kushma, mark cabana still with us. are you looking for next week in that inflation number? frances: i just want to see if it is supply slide -- supply-side driven. if the fed cannot fix it with rate hikes to the same extent it is demand-side. what is the trend there? supply versus demand, that is the key for me. jonathan: michael kushma, your take? michael: very similar. transitory versus permanent. what is the mix? we are not going to know for a while. we may not know until after september and access unemployment benefits roll off and back to school, back to work my that transpires. we are already seeing companies roll back the time people go back to work. how much is that going to impact confidence? jonathan: mark cabana, are you on the same page? mark: three things to watch. used car prices. if it moderates that's going to go a long way to help sorting out the transitory versus persistent debate. second, airfares. where are we in the the reopening? number three, and perhaps most important, it is the university of mi

frances donald coming up in a moment will be important. i would note the german tenure out front in worse or point -- worserp oin -- worser point. the 210 spread, the ones you look at i don't look at, they are rolling over. we gotta go there. this is serious. jon: this is unreal. tom: one case. jon: one case, three-day lockdown. it was meant to hike interest rates overnight over the next 24 hours and many people are threading the towel on that. lisa, that currency down more than 1%. tom: where else will you get daily dollar? lisa: it is the response to one single case, this idea places like new zealand and frankly china and particularly asia countries have a very harsh take when it comes to what the threshold is to shutting things down. how much is suppressed growth, how much in the region and globally? this is one of the biggest concerns leading to the risk off deal and bonds these days, even if you are not feeling and stocks. jon: what'd you call it, overwhelmed by banks? tom: you wonder about all central banks including her chairman pow

entrenched, national them all over the world, whether it's marine, france or victor, oregon and under your adviser than another land, or donald trump. i here in the united states, you know, we've, we've seen this describe the growing nationalism which in many cases, perpetuated and sort of exacerbated by a, by white supremacists, narratives about you know, brown and black people coming to take over, you know, the majority ideas. and so that's what i always like, i like that, you know, even though i write about it on the, when it comes to sort of the underwriting of human beings, or is it going to terms, it is actually a biblical term. it's been around since time immemorial from the book of leviticus to show that we are the human race of always the unit to blame other people for all of those. and even though might be today, it's going to be somebody tomorrow. i know somebody else yesterday and so that's why it's important for us to dallas against them wherever you forgot russia as well, which also has a lot similar to one used to be in britain that promotion of gay rights. but i mean them, arguably, as for liberal identity, po

the g7, france, germany, uk, they have been all cheering the presidency of joe biden. they hated donaldold them to build military according to the nato agreement, getting fair trade deals for american workers. they hated him because he was fighting for america. they wanted joe biden, right? now they see weakness looks like with america. joe biden withdrawn troops. given up the bagram airbase. we have no presence to navigate in afghanistan any more. these countries have their people behind enemy lines in afghanistan. of course they're frustrated with the weakness projected by the biden administration and the haphazard, chaotic withdrawal from afghanistan because their people are in danger. stuart: now at 12 noon the president will make an address on afghanistan. he will go, go to the podium. he will read from a teleprompter. i want to know if he is going to take questions. he has to take questions, doesn't he? he can't just walk away as he has on the past couple of occasions? >> listen, i think the policy is what joe biden wants to accomplish but i don't think joe biden has the mental ca