barry eichengreen is suggesting we could near attributes of a 1981 plaza accord dollar strength. lar strength or currency war weakness among our trading partners? barry: it has to do with both. the dollar has strengthened very considerably over the last year, partly because of expectations about what will happen here. but equally, because people are waiting on the ecb and we are still waiting. if we get that kind of strength in the dollar, you look at the debt story and the emerging market, we are going to blow up before then, aren't we we do not know how successful they have been, but they have had a long time to prepare to square their books. i think there is still a scenario where people are overreacting about how bad things will get in emerging markets. as the fed begins to lift off. tom: what a treat this is. lakshman achuthan is with us. , and barryame eichengreen is with us. with a continue conversation later with olivier blanchard as well. this day of debris within commodities. even copper a little south, and west tech is up. stay with us. "bloomberg surveillance." ♪ tom:

barry eichengreen was on bloomberg radio early this week. tom: this is a brilliant, brilliant essay, where barry eichengreen folds in lawrence summers of harvard. cannot convey enough, this is the must-read to get the weekend started. facebook, 12,000 jobs, dow chemical, 53,000 jobs. it does not compute. a lot of people are going to be out of work. martin: i agree with that, and i think technology -- there is a big question mark whether technology adds or subtracts from employment. admit it, buto one of the competitive channels a few months ago -- tom: excuse me -- a 3-d print of a sports car took 12 hours. everything was 3-d printed except for the wheels and the seats. so when you think about that and the impact of 3-d printing and robotics is having on there is a, reduction in employment in the longer term. tom: i have been talking about united kingdom, what daniel yergin talked about for two hours. with martin sorrell, we have time left over. francine lacqua wants to talk about heathrow. we are going to do that. our major airports, whethe

joe: thank you so much, barry eichengreen. we really appreciate it.: the president has signed a tax bill that repeals the oil export ban, this is after congress was going to ensure that there was going to bps by basically removing the prospect of a government shutdown. once again, the president is signing a bill that will repeal the oil export ban. we will follow that headline as we get it. coming up, the high yield credit market. that is next. ♪ ♪ "what'd you miss?" -- let's get to first word news. president obama held his news conference at the white house today. he says that 6 million people have signed up for health care coverage. andy also talked about terror threats. >> it is very difficult for us to detect lone wolf plots or those involving a husband and wife, in this case, because despite the incredible vigilance and professionalism of all of our law enforcement and homeland security, it is not that different from trying to detect the next mass shooter. you do not always see it, they are not always communicate in publicly and if you're not get