wheeler: i was able to be involved as they were bringing great change to the american economy and the way people live their lives. and that is what we're dealing with it the fcc. -- middlethe bidding of one of the great revolutions of all time. had we deal with the problems all around us in the communications industry. this year c-span is touring cities across the country exploring american history. next a look at our recent visit to long beach california. you are watching american history tv. >> we're at the port of long beach. sitting in the middle of the port complex. approximately 3200 acres in size. seaporthe most modern in the united states. we are a department of the city of long beach. we consider ourselves part of the community. economiche largest engine for the city. billion worth of cargo that comes through here. it supports about 15,000 jobs in the region. the port of long beach was established in 1911. through that time this port entry start on the wooden wharf. it used to come up from the northwest to supply lumber here. we're sitting on the most modern sustainable conta

could you please address the impact of tariffs on the american economy and who you think would be the best candidate for the next president ? thank you very much. guest: thank you for the question, randy. i'm glad your students are learning about history and current events as well. musical onbig broadway. he was the father of american industrial policy. 225 years ago he wrote a report to congress on manufacturers. he and present washington discovered that america did not make much of anything. they depended on france or smuggling to get a lot of their equipment. tariffs thathave would not be too high or too low. we would develop our infrastructure and we would depend on a flow of recently thesed immigrants to fill manufacturing jobs. this is an economic philosophy that did not become a reality until after the civil war. tariffs have been a part of u.s. policy for a while. as paul krugman has said, their on accelerating or deepening the great recession is overstated. he has probably studied this more than anyone else. i want to make clear i'm not likeng for a 45% tariff donald trump is

enough to be able to do in the is to be involved as they were bringing great changes to the american economy. and the way they live their lives. that is what we are dealing with at the fcc. we are part of the greatest revolutions of all-time. of do we deal with the kinds changes that are happening all around us as a result of these technologies. i think it is a continuation. >> let us bring in brian to our conversation. he is a technology reporter with the washington post. thank you. you have said you understand how lobbying playbook works. you have been there. these, when you are working for industry, those are different times and the industries are very different. as you sit here now as the howrman of the commission, has those industries changed in terms of their approach to washington? how has their tactics changed as the industries have grown?

the republican administration has put on the brakes on the american economy when we should be movingad with giant strides. it has complained about growing surpluses of food and fiber, while in many parts of america, yes, in west virginia, children suffer from inadequate diets. shouts inflation as it adds to the cost of living by hiking up interest rates and tightening up the credit. and we pay a terrible price for this indifference. now, these problems in west virginia and the other states of our union, are in fact not the worst that america faces. time has caught up with america. for the past seven years, the soviet union has been eating up the lead that america inherited indeed from past administrations and it's going to be a pitiful inheritance that our next president will receive from this administration when he sits across the table from the soviet dictator. the next ten years may well decide whether the united states is to be a first-class power, or become a second-class nation. more than a year ago, i sat across the table from mr. kus chof for better than eight hours. i saw hi

did you say buying ibm was a bet against the american economy? >> exactly. >> why would you say that? >> basically the biggest trend right now in the american economy is every industry is being transformed and updated to reflect what's possible in technology the last 30 or 40 years. that's happening through the top companies, with the top tech cultures. ibm is a sales driven culture. it's kind of like this fake old tech company that tries to p pretend it's tech. it's getting clobbered everywhere it works. >> what about watson? they like a big song and dance. are you not persuaded? >> they sold to a lot of big banks and pharma companies. there are other companies coming in who are modern tech companies they are struggling against. that's the challenge. >> if there was a strategy out of this, what would it be for big blue? >> it should be that people running the company should be technologists, not sales people. they should try to figure out how to hire top engineers in top engineering areas. it will be tough to be a sales driven company competing

in our next hour, on the american economy and american politics.alpass will join us and we look at dublin and taxi version with peter tague. ♪ america stands alone with a new global mediocre. david malpass on what the next president must do. while donald trump takes a thumping in wisconsin, clinton escapes to new york. the dublin show game is so over. the transactions and combination game has a new set of rules. this is bloomberg surveillance, live from new york. francine lacqua is in london. the politics of america, it gets more interesting as he jump to the conventions after new york -- as we jump to the conventions after new york. probably that will have an implication on the dollar and we will watch the energy commodities like glencore and an opec meeting about seven days from now. tom: i love how in three weeks we get brexit and they cleveland republican convention -- the cleveland republican convention. first word news with vonnie quinn. vonnie: setback in wisconsin for the front runners, challengers ted cruz and bernie sanders were the winne

fareed: ben bernanke, when you adopted your extraordinary measures to save the american economy throughhis global recession and crisis, you faced a lot of people from what was, in a sense, your own party. you were appointed by a republican president. and you had republican congressmen, republican senators. if you had the republican governor of texas saying that you were engaging in treason. how did that make you feel? [laughter] mr. bernanke: it did not make me happy. describe the job is powerful, i think more of the responsibility site. we had very huge responsibilities, all of us. indifferent contexts different events, to try and use the power of the federal reserve along with our colleagues and staff, it is a wonderful institution. there are a lot people working together. but we had tremendous responsibilities to try to address these terrible risks. and i think it is a good thing federalhin reason, the reserve does have independence and room to operate. critics the ability to say what they wanted to say, but we could do what was needed, as long as we could maintain the broad support.

>> what i was fortunate enough they was to be involved as were bringing great change to the american economy and the way that people live their lives. that is what we are dealing with at the fcc. we are in one of the great network revolutions of all-time. say,ob of the fcc is to how do we deal with kinds of changes happening all around us? >> watch "the communicators" monday night at a met on c-span2 -- at 8:00 p.m. et on c-span2. recent, i look at our visit to montgomery, alabama. american history tv, all weekend, every weekend, on cspan3. >> if you think about the timeline of the modern-day civil rights movement, the beginning being brown versus the board of education and the apex being the assassination of dr. king, the freedom rise is right in the middle. at the halfway point between those events. the happened here on streets of montgomery became a turning point for the movement. was a civilride rights campaign to trap -- challenge the segregation laws and interstate travel in the south. they were traveling to the deep south to test whether the facilities and modes of transportation were

fareed: ben bernanke, when you adopted your extraordinary measures to save the american economy through this global recession and crisis, you faced a lot of people from what was, in a sense, your own party. you were appointed by a republican president. you had republican congressmen, republican senators. you had a republican governor of texas saying that you were engaging in treason. how did that make you feel? >> [laughter] mr. bernanke: it didn't make me happy. you described the job as powerful. i think more of the responsibility side. we had very huge responsibilities, all of us, in different contexts, different events to try to use the power of the federal reserve, along with our colleagues and the staff. it's a wonderful institution. it's not a single-person organization. there are a lot of people working together. we had tremendous responsibilities to try to address these terrible risks. i think it is a good thing that, within reason, the federal reserve does have some independence and some room to operate, so that, you know -- their critics can say with -- the critics can say wha

that means 700,000 people found jobs during the month. >> when we took office the american economy was. so did it take a while to get out of that? you bet it did. we were correcting what had gone wrong before. >> the economy starts to bounce back in 1983. gas prices are falling. the stock market is rising. you start seeing inflation go down. employment go up. by 1984, they have an economic revival to pitch. >> it's morning again in america. and under the leadership of president reagan, our country is prouder and stronger and better. >> it was a brilliant ad, and it worked. there was no chance a democrat was going to beat that. >> a u.s. political summit meeting takes place in louisville, kentucky, not to resolve differences but to exploit them. ronald reagan meets walter mondale. just about everybody is calling it a major opportunity for mondale. >> he doesn't need just to win by a nose. he needs to win to stay with it by four or five lengths. he needs to do well because he starts from so far back. >> the question of ronald reagan's age had always been in the back of minds of a lot of

i feel that fair trade laws have a place in the american economy. the biggest problem has been in the area of enforcement. i believe that there ought to be rules of conduct in the economic marketplace just as there are rules of conduct in banking, in railroading, in utilities. i happen to believe lost leaders lend themselves to jungle warfare in the economic marketplace, threaten the existence of private enterprise, particularly individually owned enterprise or partnerships. i have seen through experience, not through theory, the impact of the powerful, large interests upon the independent retailer, and he is in need particularly in those areas where there are nationally advertised brands of some kind of price protection lest these nationally advertised items be used as come-ons to draw people into a business establishment and ultimately to destroy the independent merchant who is, in fact, as important to the american social and economic structure as the family farmer or, indeed, as the school teacher or the independent school district. these are th

act and strengthen families and our economy wiby providing workg women with the tools they need to close the gender pay gap. by taking action, we will show the american people our commitment to building an economy that works for everyone. not just those at the top. before i yield, i wanted to take a moment to thank and recognize the senior senator from maryland for her tremendous leadership on this issue. it has been an honor to serve alongside such a champion for women and families. i am looking forward to continuing this particular fight together and winning this fight together. thank you and i yield back. >> senator from maryland? >> let me thank senator baldwin. i agree and i am proud of the senior senator from maryland as well. this bill on paycheck fairness is the most recent example of her extraordinary leadership throughout or her on gender equity issues. the paycheck fairness act is not just about women. it is about families, economy, fairness, and american values and affects everyone in the country. we should all be personally engaged in making sure pay check fairness becomes the law. it is outrageous a woman has to work five days to know m

in the cable and wireless industry was to be involved as they were bringing a change to the american economy and the way people live their lives. that is what we're dealing with in the fcc. we are now in the middle of one of the great network revolutions of all times. to say ok,the sec is had we do with the kind of changes that are happening all around us as a result of the new technology. >> watch monday night at 8:00 eastern on c-span2.

that has extraordinary benefits for the american, me. -- economy. host: in the new york times, there is an article about the u.s.-china trade. it adds china's internet controls to the list of trade barriers. the entry says that over the last decade, the limit have posed a significant burden to foreign suppliers and hurting both internet sites themselves and users. can you talk about the cyber factor? documente underlying is trade folksky would ever read it. it is missed opportunities. it does talk about a dilemma business people want to address. you have to surrender your intellectual property? do you have to censor your content? of companiesot that have to decide about these trade-offs. there are some companies that have made the right call. you see other companies that have been willing to go along. moral dilemma. it has economic consequences because there is real, untapped potential among chinese consumers who tend to like and theirrands government will not give it to them. our next call is from chad on our independent line. thank you for taking

jobs and help protect american innovation in the global economy. it aims to do so by providing tools for american companies both small and large to effectively protect some of their most valuable assets in today's international economy. american companies spend billions every year in research and development and in the creation of products we use every day. but some thieves would rather not go through the trouble of developing products themselves. they would rather just steal the fruits of other's creativity and innovation. that's more than just wrong, it puts american jobs and the american economy at risk. american businesses find themselves increasingly under attack from a sophisticated effort to steal the very things that give them a competitive edge in the 21st century economy. things like codes, formulas and confidential manufacturing processes. while it's never been easier for these thieves to launch attacks on innovation, sometimes armed with little more than a jump drive, many american businesses now find themselves less able to protect thei

>> ben bernanke, when you adopted your extraordinary measures to save the american economy through thisbal recession and crisis, you faced a lot of people from what was in a sense your own party. you were appointed by a republican president and you had republican congressmen, republican senators. you had the republican governor of texas saying that you were engaging in treason. how did that make you feel? >> it didn't make me happy. you described the job as powerful. i think more of the responsibility side and we had very huge responsibilities, all of us, in different context and different events to try to use the power of the federal reserve along with our colleagues and the staff. it's a wonderful institution. it's not a single-person organization. there are a lot of people working together. but we had tremendous responsibilities to try to address these terrible risks. and i think it's a good thing that, within reason, the federal reserve does have some independence and some room to operate so that -- you know, that left the critics the ability to say what they wanted to say, but we c

does that speak of attempted american economy?n a time of negative american interest rates. forget forarter to banks worldwide is? this is "bloomberg surveillance ," live from our world headquarters in new york. i am tom keene. with me, francine lacqua. the bank story will be fascinating at those conference calls. francine: it will, because we had the panama papers. we will see how they react to that. and in italy today, which is driving european shares, you may have a resolution as the government tries to -- tom: and the italy issue with unicredit, we saw that last week. as we bring you global perspective on not only that but the american economy as well. here is caroline hyde with first word news. caroline: in belgium, authorities say the extremists struck brussels last month and killed 32 people have planned another assault in the wake of the paris attacks. they are said to have russian attack on brussels. the ukrainian prime minister is resigning after weeks of pressure. newpens the way for a government. the country's parliame

that means 700,000 people found jobs during the month. >> when we took office the american economy wasso did it take a while to get out of that? you bet it did. we were correcting what had gone wrong before. >> the economy starts to bounce back in 1983. gas prices are falling. the stock market is rising. you start seeing inflation go down. employment go up. by 1984, they have an economic revival to pitch. >> it's morning again in america. and under the leadership of president reagan, our country is prouder and stronger and better. >> it was a brilliant ad, and it worked. there was no chance a democrat was going to beat that. >> a u.s. political summit meeting takes place in louisville, kentucky, not to resolve differences but to exploit them. ronald reagan meets walter mondale. just about everybody is calling it a major opportunity for mondale. >> he doesn't need just to win by a nose. he needs to win to stay with it by four or five lengths. he needs to do well because he starts from so far back. >> the question of ronald reagan's age had always been in the back of minds of a lot of pe

millions of manufacturing jobs have been lost because of outsourcing, technology and the american economy been transitioning to higher-skilled, college graduate service-based economy. >> so you could see -- basically you can see two different stories in these numbers. here's the other story i think a lot of people are confused about. the dow opened up down 100 points within the first hour or so. is this what you expected to happen? >> yes. here's why. they show a resilience in the labor market. they show you are creating 200,000 month after month of new jobs, unemployment rate of 5%. people coming off the sidelines and getting in to the market. the dow fell because that means the fed can raise rates this year. >> that's it. that will happen every time now days. despite what janet yellin did earlier this week. >> the market could get shaken if you see signs of strength in the american economy. it would mean higher rates and borrowing costs. >> i always say people look at these numbers and see what they want to see. republicans will look at the numbers and say people who have been moved out

involved,ble to be they were bringing great change to the american economy and the way people live their lives. that is what we are dealing with at the sec because we are dealing with one of the great revolutions of all time. our job is to say, ok, how do we deal with the kind of changes that are happening all around us as a result of the new technology? >> watch the communicators monday night at 8:00 eastern. >> each week, american history america" brings you archival films. ♪ >> beautification is far more than a matter of cosmetics. to me, it describes the whole effort to bring the natural world and the man-made world into harmony, to bring youthfulness, delight to our whole environment. ♪ on march 9, 1965 mrs. johnson said out the first azalea of the beautification program at the triangle between 3rd street in maryland and independence avenue southwest. of 1965, the committee met above -- aboard the uss sequoia to a tour of the potomac river. tours and short trips would become a regular part of the committee's activities. this particular trip spotlighted the history and geography of t

fortunate enough to do in the cable industry was to be involved with bringing great change to american economies. that is what we are dealing with at the fcc. we're in the middle of a great revolution. the fcc has to say, how do we deal with the changes are happening all around? >> watch the communicators on monday night. >> on march 22, the house of representatives passed a bill to allow world war ii women airforce service pilots, also to be interred at arlington. officials said that under existing rules, they do not qualify. next, the floor debate on the bill. i moved to suspend the rules as amended. >> of the clerk will report the title of the bill. floridaentleman from will control 20 minutes. the chair recognizes the gentleman from florida. >> all members will have five days with which to revise remarks or add extraneous material. >> without objection. >> yield myself time. >> thank you. i rise to urge all members to .upport this bill this bill was introduced by our , ensuringin arizona that active-duty designees including women air force pilots are eligible for internment with full militar

they say it is odd for a major party nominee to make this kind of bleak statement about the american economy. in all your years of reporting, have you seen a nominee or major political candidate say this kind of thing about the economy? >> no. i mean, what they say is they may criticize the incumbent from the other party and say the economic policies are not working and i have better policies. but what trump was saying, that this is dreary. >> let's get a reality check on trump's claims. cnn's global economic analyst with me, and assistant managing editor at "time." author of makers and takers, and also with us, political commentator, trump supporter, jeffrey lord. this is really, really important when you look at the fact that economy is issue one for republicans and democrats this election cycle. let me begin with you, he said the $19 trillion national debt could be eliminated in 8 years if he becomes president. but when you look at how you get there, you have to cut the $4 trillion annual budget in half, make it 2 trillion. and he's also pushing for what he describes as a very big tax cut

fareed: ben bernanke, when you adopted your extraordinary measures to save the american economy through this global recession and crisis, you faced a lot of people from what was, in a sense, your own party. you were appointed by a republican president. you had republican congressmen, republican senators. you had a republican governor of texas saying that you were engaging in treason. how did that make you feel? >> [laughter] it did notrnanke: make me happy. you described the job as powerful. i think more of the responsibility side. we had very huge responsibilities, all of us, in different contexts, different events to try to use the power of the federal reserve, along with our colleagues and the staff. it's a wonderful institution. it's not a single-person organization. there are a lot of people working together. we had tremendous responsibilities to try to address these terrible risks. i think it is a good thing that, the federaln, reserve does have some independence and some room to operate, so that, you know -- their critics can say with -- the critics can say what they wanted to sa

cable industry and why are industry is to be involved as they were bringing great change to the american economy and the way that people live their their lives that is what we are dealing with the sec. we are dealing with the great network revolutions full-time is to say how are we dealing with the changes that are happening around us as a result? monday night communicators on c-span two. american history tv brings you all credible coverage of presidential riches. -- archival coverage of the presidential races. just days ahead of the new york primary, tor

economy. it's about fairness, about american values. it affects everyone in our country and we all should be personally engaged to making sure paycheck fairness becomes the law. to me it's outrageous that a woman has to work five days, the same work that a man works four days with the same pay. that's inherently unfair and needs to be corrected. and the paycheck fairness act would do that. i know that we are on equal payday which basically reflects how long women have to work basically without getting a paycheck in order to get paid for the same amount of work that a man does at the same level. that's just not american. it's not fair. mr. president, i had the privilege of being, as the chair knows as a member of the senate foreign relations committee, the rarpging democrat -- ranking democrat on the foreign relations committee. as the president knows, america -- one of the things we look at is how well other countries deal with basic rights. one of those rights is how they treat their women. and one of the barometers determining how wel

-- the american economy, businesses, and if it's doing, that it's crushing the middle class and all americans. i'll yield back to you. mr. benishek: thank you, mr. yoho. the thing that we're talking about -- the things that we're talking about here today are examples of the federal government getting involved in things that they don't have the right to do. i think a lot of it comes from these bureaucrats that are just writing regulations that you can't comply with. that's basically the reason that coal fired power plants are going out of existence. most of these problems have been eliminated by the work that we've done on improving our environment. i applaud that america's made the investment before any other country, in making that happen. but to regulate us to the point that businesses are going overseas and polluting the planet worse because of our policies, because if we did the stuff here, we would do it cleaner. the university of michigan has had an environmental research station in northern michigan, in my district, for the last 60, 70 years. and the scientists there tell

what he says wiwill have a long-term effect on the american economy.avid: san francisco federal resererve president john willias telling our own peter barnes he canan support at least two more rate hikes tthis year. remember what happened with the last one. the markeket crashed. more on the fox business exclusive interviiew comining rt up. >> the masters underway in augusta. can phil mickekelson pull out another winn against the young guns? one of the most cebrated female golfers o all time, annika sorenstam, will join us with her take on this one and maybe some more new york value. ♪ ram trucks are reaching new heights when it comes to capability and efficiency. the ram heavy duty is the most capable fullll-sizd pickup on the road today. and, the ram 1500 the most fuel-efficient, full-size pickup. ever. so what does that mean? it means ram trucks give you the best of both worlds. so go big. and go far. because thbest never rest. . . . . every day you read headlines about businesses being hacked and intellectual property being stolen. that is cyber-cri

so, if you want to be like france without the charm, that's what she's going to do to the american economy. make the obama years look like the roaring 20s. >> making no bones about this, bruce. she had an interview with the daily news. we have just the audio of that interview. let's play the tape. >> i'm well aware this is a heavy lift. i understand that, but i think connecting what i'm asking for to the programs, to the outcomes and results that i'm calling for, dwgive me a stronger hand d that's how i'm going to go at it. >> she calls it a heavy list. can we afford that, bruce? >> well, i think what she wants to do is party like it's 1999 and '98 and '97 and '96 when the deficits went down when her husband's tax plan, it did raise tax, but they paid down deficits. i think the tax policy center says it would reduce deficit by a trillion dollars and i don't think that's a bad thing. >> rich, the fact is that what she's going to be using, the tax money, is to expand government. we've got a list of some of the programs that she's going to be spending that tax money on. it goes on and on and

american's confidence in the economy is lowest all year. lowest level since august. it shows how americans feel about the future and economy today. 60% say the economy is getting worse. stocks around the world were crashing and why are americans feeling down about the economy? presidential election may be one reason. candidates like donald trump bashing the economy. we do know as well the start of the year was weak for the american economy. gdp rose 0.5%. the first quarter has been week the past couple years. >>> let's see what is coming up on "new day" with michaela pereira. is this your last day? >> i heard a rumor this is my last day on "new day." i live the brand. all about it. at least for today. >> dear jeff zucker. >> quite a scene overnight. 20 arrests and clashing with supporters and anti-trump protesters. in addition to all of this, former house speaker john boehner kind of letting loose on the gop rival ted cruz calling him, these are his words, lucifer in the flesh and a mean s.o.b. we will have reaction. >>> we his jeb bush spea

seven, we have heard from americans, we heard from employers, we heard from families that the american economy, the american people, employers are under assault from a blizzard of regulations. and in the last year, as we near the closing months of this administration, the blizzard is almost a whiteout. you can hardly see, they're coming so fast. this, this is one such regulation and it's everywhere in industries across america. it's choking us. we got to stop it. please, please, let's start here today and support this bill. i yield back. the speaker pro tempore: the gentleman yields back his time. the gentleman from tennessee reserves. the gentleman from virginia. mr. scott: mr. speaker, i yield two minutes to a member who before coming to congress had a long career in the financial services industry, the gentleman from maryland, mr. delaney. the speaker pro tempore: the gentleman from maryland is recognized for two minutes. mr. delaney: thank you, mr. speaker. i want to thank the gentleman for yielding. mr. speaker, we have a looming retirement crisis in this country. people are living longer

. >> so many people in the country now look at the american economy and they say it is rigged.are stagnant. it is rigged. they say it's rigged by those at the top. >> it is. and that's -- that's in the policy area, that's -- that's our number one policy objective to change that. what i call it is -- >> you agree that the system is rigged. >> absolutely. >> is rigged in favor of the wealthiest. >> in favor of companies like ours because we have this corporate welfare that benefits established companies and makes it very difficult for somebody to get started. >> when you look at the presidencies of george w. bush and barack obama, which one in your view was worse? i know you don't like either one. >> i would compare it to more toward bill clinton. just in the spending and regulation. the government grew much more under bush's administration whose i think is a fine person and tried to do the right thing, but -- but was misguided. >> am i hearing you correctly, you think bill clinton was a better president than george w. bush. >> in some ways. in other ways he wasn't an exemplar bu

oil is supposed to be a good theg, hasn't happened for american economy?eapness of oil and gasoline to the u.s. retail consumer is more than outweighed by the importance of lending to the energy sector and what it does to the fossil fuel industry .hen oil prices go down finally, when you put it all together into -- and do a balance sheet, the extent to the consumer is outset. nt statistic is we are saving more. right? you are saving more if you are consumer, but compared to 10 years ago, the u.s. is not of oil, as it used to be. we are cutting back on production now, but until recently, we were competing with saudi arabia and russia in terms of oil production. , youambassador haas thatmade part of your work we need to be stronger at home. are we stronger? richard: ultimately, we are stronger. tom: we've got to be. richard: what we see in the markets is we cannot mix results immune from the economic or financial consequences. it is why this whole argument about energy independence misses the point. we may be close to energy self is the fish -- self-sufficie

george extraordinary measures to save the american economy through this global recession and crisis, you faced a lot of people from, what was in this venture own part of the you are appointed by a republican president and you have republican congressman, republican senators. you have the republican governor of texas say that you were engaging in treason. how did that make you feel? [laughter] >> it didn't make me happy. [laughter] you describe the job a powerful. i think both responsibly sight of which are huge responsibilities, all of us, in different contexts in different events to try to use the power of the federal reserve a long with our colleagues and the static it's a wonderful institution. it's not a single person organization. there are a lot of people working together but we had tremendous responsibility to try to address these terrible risks. i think it's a good thing that within reason that the federal reserve does have some independents and some room to operate so that the critics, the billy to say what they can say but we can do what was needed, at least within, as long

regulations were finalized last year alone, joining thousands of others that ultimately cost the american economy $4 trillion a year. our constitution is designed to preserve individual liberty, but this government instead seeks to increase bureaucratic influence. the american people deserve better. they deserve representatives of their choosing, who are in power to make decisions. they also deserve to know that if those representatives fail they can hold them accountable and bring about change. at the end of the day, that's what restoring constitutional power is about, giving the american people a voice and for that, that cause especially, i am proud to fight for. thank you. mr. yoho: and i thank the young lady from utah and i appreciate the work you're doing and keep it up. we only have a nation to save. mr. speaker, the united states constitution is the supreme law of the united states of america. ours is the shortest constitution in existence and the longest serving, 227 years since its ratification in 1789. our founders can have many things said of them but one thing we can all agree on thro

the north american economy is so integrated right now in terms of manufacturing and commerce in generalif you tried to put capital controls -- you mentioned americans living in mexico. there's something like 30 million american tourists who go to mexico every year. then there's auto manufacturing, where the different components of a car are made here or in canada. >> cash loose back and forth. >> supply chains are totally integrated. and if you tried to put capital on that, mexico is our second largest country that we export to. so if you put capital controls on, you would kill the economy. >> briefly, mary, you've known mexican presidents and finance ministers going back decades. how do you think they'd react to that kind of an ultimatum? >> they would not comply. they would simply say we will not do it. right now in mexico, one of the most popular things to do is buy a donald trump pinata and beat the stuffing out of it. so mexican politicians who are very populous themselves, are not going to comply. >> we have to take one more break. when we come back, our hits and misses of the wee

we will talk to her on the american economy on the spirit of business.ritzker on white sox and the cubs. "bloomberg surveillance." ♪ tom: across the bloomberg, further job cuts. i guess not a big deal that it is 70 people, but that is what we are seeing, not the drama of 5000 or 10,000 liked her to bank -- like deutsche bank. it is a big deal in london right now, isn't it? is, tom. it there is noise that other banks will relocate some of their top -- they are planning to cut staff in london. they are trying to trim costs to compensate for low trading revenue. tom: this on the back of the nomura announcement later today. to the morning must-read. he will join us on friday, kenneth rogoff. he has been a huge supporter over the years of all "surveillance." ken rogoff -- tom: this is one of the strongest essays i have seen from ken rogoff. professor currie is with us from goldman sachs, folding commodities into trade. one of the big things here is that they have to want our exports. when you have commodities flat on our backs, brazil does not want our export

and i like the strong american economy and strong presence in the world and analysis of many failings of obama administration's foreign policy was on target and i thought his observations of need to have a strong military to create the structures of deterients were all very strong, too. it was a surprise that he didn't have the campaign didn't have it 6 or 8 months ago. it is a beginning and doesn't cover everything. even though it was 45 minutes long. he joins senator cruz in this debate. senator are cruz made a number of thoughtful speeches on national security before. it was an impressive first statement of his thoughts, not all i agree with but now we'll see the debate going forward. >> i know jill, all of the foreign policy has been waiting. >> a lot of anticipation surrounding it. the question was mr. trump come to jesus moment with the establishment and i believe it was. this is the best tone and tenor we heard on the national defense probably for the duration of the campaign. i would have liked to seen it six is or eight months ago, and made me feel better about his prospects

tom: maybe the next toughest thing after oil to predict is the american economy. "morning must-read." atlanta gdp now has become the de facto standard for gaming the american economy from day to day. here's a quote from the new york fed yesterday when they dropped the bombshell. bill dudley was at -- they have done some important research. tom: james bianco joins us now. this is hilarious. we have a gdp between atlanta and new york. soon we are going to have the st. louis now cast. james: you are right. they are coming. the reason they are coming is the atlanta fed gdp report, of anything the research departments of all the federal reserve's do, that is probably the highest profile one. tom: does it get us away from good quarterly reports, blue-chip advisors by consensus? inwe get value from moving the one-call 90 day, or once a week when there is major news? james: i liken it to your marathon split time. it is good to know what you are running at at the 10-mile mark or the 15-mile mark, but there are 11 more miles to the race and you do not know if your pace is g

about our economic issues, but you have to think about a collapse in europe dragging back the american economy. you have to worry about the largest number of refugees since world war ii. all this stuff comes home. >> afterwards, mr. clinton took his mind off political matters by having sex with carburator. >> the crime bill was a failure and mistake. >> i disagree. >> the black lives matter kids are making stuff up when hillary said they are super predators. she said people who are perpetrating crime have super predators. the only racists are them for presuming she was talking about black people. >> i believe the anti-violent act did contribute to reducing homicide rates by stricter sentencing laws. you had to serve 85% of your sentence. they put out 100,000 new cops. what's wrong with that? >> stepping up the drug war because of the cycle of violence. i think that particular legislation was a response to the crack epidemic, which wasn't a real thing. >> i agree with you on that. that was a real thing. crack was a real thing. trust me. i don't remember '91 to '93. >> this whole thing is about

that is great for the american economy, new dollars coming to the united states. they love to come to the national parks and learn a little bit about this nation. there is a focus in the pacific rim, around china and asia, to invite that community. the united states is the number two destination in the world for international travel, just a little bit behind france. france is a little easier to get to. but we want to be number one. we really do want to draw international visitors to come see our national parks. host: our next call is from michigan. caller: hello. i love c-span. my question here is -- i have visited yellowstone, and what i have noticed is a lot of foreign workers from many different countries working at the parks in these, i guess, private concessionaires. that disturbed me a little bit. i wonder if you would comment to that? guest: thank you. it is common for our private concessionaires to hire workers that work in hotels and restaurants from other countries, and come here on work visas. and we have been encouraging them through the new contracts

the president has an impact on the american economy of this sort he had never had in the past.f: is there a trait that, whether they are republican or democrat, that all presidents share, in your opinion or that you saw, that runs through all of them men we read about in this book? william: none of the presidents can be said to be shy. they all have a strong sense of themselves, of wanting to have an impact on public affairs, to make themselves -- a place in history for themselves. they were all very aware of their predecessors. jeff: is the current president shy? william: the current president is reticent in a manner. he is a president who thinks before he speaks. he is someone who has been often said to need to be more forceful. i think we are already missing barack obama, and i think we are going to miss him more in the years to come, in part for that very quality. jeff: what do you make of the current primary season and those who would be next president? william: well, i think it is extraordinarily distressing and i'm hardly alone in holding that view. the phenomenon of thi

you know, when i look at the american economy, i say healthy tortoise. not a sick hair. that is a good metaphor. even if you can't explain those numbers, to some only bill gross , we are still dangerously on the precipice here of a collapse. whatt david to listen to he said earlier about these numbers, and about the fed. eric: this is like musical chairs where we all wonder when this system, this artificial system might implode. and, for the most part, if the guessing game is extended to 2017, 18, 19. eddie: i see you shaking your head. growth, do youd just disagree with him? disagree witht everything. i do not think the economy will dislike lightly into a recession. it is not going to hit a tipping point. there is no excess anywhere. you get recessions when you have excess over collapses. we do not have that. economies -- expansions do not die of old age. think the expansion is to keep going. the problem is that monetary policy is not artificially propping up the economy. all is so frustrating to me of my career is i know the first few rate hikes actually stimulate econ

tom: as we look at the international economy, we'll continue the synthesis of international events this week into the americanabor economy. the chief economist from citi group will join us. we'll talk about the demrobal recession probability, also bill on the call on oil. this is "surveillance." ♪ francine: tom keene is in new york. this is our morning must read. i pked out something where there's great opinion pieces. they write in this morning about -- it actually pulled out of that m&a deal at the last minute. chinese businesses, they say, wanting to make these splashy deals need to work with their customers. if the likes of anbang don't understand the bona fides they need to convince those parties to deal, they have a know your customer problem of their own. who they were talking about was not only the financing, but also some of the customers. this goes back to the point that you've been out front on, that you've been making the last couple of days, you weren't really sure who anbang was. if we didn't have full disclosure, then they had to pull out. tom: i don't think it's a question of full disclosure.

the overall situation of argentina looks good relative to latin american economies.rice rally came after he was elected. to what degree does the panama papers with his name mentioned keep his ability to keep reforms on track? with him elected, there has been a polarization in argentine society. the enthusiasm that has gone into this, on the back of this announcement, there are still complications and ongoing litigation. this lifts one part of the problem but does not solve everything so there could be room for disappointment. ♪ this is the first thing you should look at in the morning when you log on to bloomberg to find out what is happening alone -- around the world. ii gives you net inflows and outflows out of equity bonds and portfolios. >> let's look at the industry groups moving up and down today. >> i know bloomberg customers have their goto functions. there are around 30,000. ourill keep highlighting favorites on bloomberg television, and maybe they will become your favorites, too. for fast insight into timely topics. take a look. in the european union may be