peter: mark in bridgewater massachusetts. caller: good evening to you and good evening to your esteemed guests. professor bell, you must agree with me that thomas payne was probably one of the most provocative writers that ever existed ever and all of history. he must have had access to certain information from some of the people that he connected with in england back in the day. when he came up with statements like king george was receiving 800,000 pound sterling annually and that he and the ministry were giving large tracts of land away to their cronies in the colonies. even before 76. my wife and i just visited baja this summer and i realized that one of those prizes went to governor hutchinson who is a master suit -- massachusetts governor back in the 60's. he had been awarded the entire peninsula which comprises baja -- could you possibly make a comment about where thomas payne was gaining access to some of this information? thank you very much. richard: thank you mark for the question. certainly graft is a feature of an

then, you know, goldman sachs, or bridgewater, or some other lead financial institution, and among their biggest customers, are governments. rosie calling to and wrote a book about this exact phenomenon. we know that spending on consulting companies pretty much everywhere and by governments has steadily increasing for the past few decades. management consultants have been hired to solve and economic crisis and costa rica design the smart city in kenya, or roller cove and vaccines. in france, an impressive track record, but some experts are warning, but the consulting industry isn't all it promises to be the consulting industry. it has expanded, not necessarily because it is able to create value for economies and societies for organizations. but actually, because it invested in the ability to create a, to create the illusion of bobby, to create the perception that is creating value. before we dive deeper, let's take a quick look at how we even got here late 18 hundreds. the 2nd industrial revolution companies like general electric start to employee engineers on a short term basis. the con

bridgewater is $100 billion hedge fund, the biggest by size.way the ceo knew about these trades. larry: right. charlie: these only involved in like a trade that is existential to the fund, and guarantee, their investment of hershey, the chocolate company, is not willie wonka, is not animating him. i mean, he's got compliance, a million people between him. larry, i don't like doing journalism sort of critiques. but for the grace of god we all make mistakes. this is a really bad story and it's bad editing. i mean, this should have been deep sixed, because the ceo has nothing to do with this , and also, you know, short selling is not illegal and by the way, do you know what's actually good for companies? do you know why it's good? it tells comcast if you get people betting against it, clean-up your act. hershey, i don't know anything about hershey. i haven't had a chocolate in a long time. have you? larry: no, as a matter of fact. charlie: maybe that's why they are short. larry: but not only was he a ceo and not involved. he's not on the trading f

mark from bridgewater, massachusetts, please go ahead. >> good evening and distinguished guests.i think about the contribution of the founding fathers on the work of a have done with the federalist papers, i am also thinking about the 18th century americans were interested in preserving the liberty for which they had fought virtually loosely -- virtuously during the revolution. each individual state had specific needs and it is understanding why they had reservations about potentially sacrificing liberties to a central government. my question is, must americans be prepared to sacrifice additional liberties as our world becomes increasingly complex? thank you very much. peter: gregory? judge maggs: he has a premise on a question. i agree with the premise. one of the biggest concerns they had to address is now we will have a more powerful central government which means the states will be less powerful which means you might not have as much liberty as you might otherwise have. one of the biggest challenges the authors faced was how to explain that this was actually going to be an im

course to sonali basak, who has a busy day tomorrow morning, she will be interviewing the founder of bridgewater associates, ray dalio. we will of course be dipping in on that. coming up, a rare amazon skeptic. up next, why one analysts report has shares falling. this is bloomberg. ♪ tamra, izzy and emma... they respond to emails with phone-calls... and they don't "circle back" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. katie: this is "bloomberg markets," time for the stock of the hour. amazon shares are falling after a rare analyst downgrade. wells fargo cut the stock to equal weight from overweight with analysts saying the growth in the cloud computing business is not likely to compensate for shrinking market trend -- shrinking market trends, cup fro

but despite market enthusiasm, many are urging caution, including jp morgan's jamie dimon and bridgewaterray dalio. according to a recent survey by the national association for business economics, nearly 40% of professional forecasters say that a monetary policy mistake by the federal reserve is the biggest downside risk to the economy in the next year. 23% say next month's presidential election is the biggest risk, and an equal number cite the escalating conflict in the middle east. but these risk factors don't seem to have dented investor confidence here on wall street. after the united states, brazil is the second—biggest economy in the americas. its recent growth has been driven by a robust agribusiness sector, with brazil leading global exports in commodities such as soy, sugar, coffee, orange juice and cotton. with a territory nearly as big as europe, the country is also reaching minerals, ranking second to china in iron ore production and also excelling in the production of copper, aluminium, niobium and other minerals. as the seventh most populous country, brazil represents a sign

across a wide array of financial services as well as a ministry of support, so businesses like bridgewater, and coinbase are customers that make use of claude for many of the applications i mentioned. ed: what i understand from speaking to a lot of those working in banking or investment or asset management is you have a data security component and then a regulatory component. why is it they trusty with both of those pieces? daniela: anthropic has always had a strong stance on privacy and security of the systems we are developing and something we feel strongly about is that privacy of data is a critical component of companies feeling comfortable using generative ai, so we have never trained on customer data by default. we have always worked to integrate with our partners on the security side. ed: in terms of regulation, the u.k. is looking at google's partnership or investment in anthropic. how are you working to address their concerns? daniela: we are cooperating to share all requested information. anthropic is an independent company. we operate in this new space and offer our models nonex

bridgewater is 100 billion dollar hedge fund. right. >> you know these only involved in the a trade that is existential to the fund and guaranteed their investment in short of hershey, the chocolate company, charlie chocolate and the family -- is not animating him. he has compliance staff, a million people between him. i don't like doing journalism critiques, but for the grace of god go i, this is a really bad story. and bad editing. this should have been deep 6ed. this ceo has nothing to do with this. and also, you know short selling is not illegal, and you know what is good for companies, you know why, it tells comcast, clean up our act, h hershey i don't know, i have not had a chocolate in a long time, have you. larry: no. >> maybe that is why they are short. not only, he is not on trading floor. she goes at some length to quantify short positions, then she makes an assertion. >> pennsylvania companies that is what this is about. >> most were long investments. >> in pennsylvania companies. >> she doesn't give the -- the number

joining me now is former bridgewater associates ceo dave mccormick. dave, good to see you.e. how would you assess the race in pennsylvania? i want to talk about the presidential race before we get into your senate race because i know you just did a debate with bob casey. assess the situation in pennsylvania for us on a national level. >> good morning, maria. i think it's moving in president trump's direction. i think the more voters see of kamala harris, this liberal san francisco agenda, ban fracking, transition energy workers, mandatory buybacks of gun, defund the police, positions in her own words, the more they see of that, the more they see the contrast with president trump and common sense policies. pennsylvania may be the one place that would have been better for the democrats to have joe biden because of the scranton connection. he's been campaigning with union leaders and county commissioners for 50 years in pennsylvania, so i think the gap is, or the momentum is moving very much in president trump's favor. and i think the more exposure pennsylvanians get to this a

a career politician bob casey, approving using bridgewater, the firm i worked with and four, before i got there, all of these investments happening were happening under bob casey as treasurer. he invested 31 dirt -- trillion dollars and he takes lobbying money from firms selling drones to the chinese military. he does not have credibility on china. moderator: your rebuttal. sen. casey: he said in 2023 that the divisions -- the decisions made as ceo he has responsibility for. he doesn't want to take responsibility for the decisions he made as a ceo to invest in china. to invest in the rise of china, after we knew china was causing job loss. he helped vladimir putin before he invaded ukraine. if he talks about anti-semitism i have the leading bill in the senate to combat sen. casey: number two is he is the one who invested in not hedge fund money but his own personal money, millions of his own personal money and a website that platforms hate, holocaust denial, and anti-semitism. moderator: that is his money. moderator:rebuttal. -- that is his money. moderator: rebuttal. mr. mccormick: h

on the desk we have tim seymour, dan nathan, steve grasso and former bridgewater chief strategist rebeccaterson. great to have you here. let's get started with breaking news on boeing. shares down after the company preannounced a third quarter loss of nearly $10 a share and said it would cut 10% of its workforce. phil lebeau has those details. phil. >> hey, contessa. we had this news about a half hour ago. not a huge surprise that the new ceo of boeing, hasn't been in the job that long, has made some tough decisions in terms of not only where the company is right now but where it is going. so let's run through all of the announcement in terms of the preannouncement for q3, a lot of $9.97 on a gap basis. we don't have a comparable estimate there but i should tell you that going into today, the core earnings loss estimate was $1.60, so about six times worse than what the street was expecting. boeing's revenue for third quarter shy of expectations, coming in at $17.8 billion. that's what they're expecting. the street was expecting $18.5 billion in terms of q3 revenue. operating cash flow, ne

a bit of bridgewater rubbing off at the moment. yesterday afternoon. lisa: pause. every single person i talked to said the volatility conference everyone was looking for downside protection. no one was looking for upside protection. everyone is looking to put on the steepener trade. nobody was talking about the potential for a strong dollar. we start looking those crowded positions on a tactical basis i understand the argument from a contrarian perspective on the other might be -- >> just be very clear. >> basically which side of the boat if everyone's on this site i want to go on the other. >> in line over at hsbc. up next on the program iran attacks israel. >> at my direction the united states military actively supported the defense of israel. and we are still assessing the impact. based on what we know it's >> defeated and ineffective. >>the latest news out of the region up next. good morning. ♪ jonathan: the slide continues. we are down on the s&p 500 and the rally in crude picks up on wti $72 a barrel. iran attacks israel. >> at my direction the united states

to mark in bridgewater massachusetts. mark you are on c-span.lease go ahead. >> good evening to you and good evening to your distinguished guest. professorr homestead i listen to some of the remake and about how you could find so many strands to talk about from this work by willa cather. i wondered if it was possible that. >> mark, go ahead. we are listening. >> i was trying to t think abou, peter can i call you back? note, you cannot. can you turn down the volume on your tv please adjust go ahead and finished a question that we will have lesser homestead answer it. >> i was just curious if willa cather had taken more of his satirical approach to her novel and rather spoke in the narrative if she had been a little bit more conscious and made the readers conscious of the amount of laissez-faire practices that were taking place on the planes and if it would have been impossible for her to reach out to an audience and climate induced change during the 30s. >> thank you mark. we have a lot to work with their are professor homestead what would you li

of bridgewater, you oversaw a company that produced fentanyl. can you explain that in mr.ck: he's voted 99% of the time with biden and harris. when asked what do you disagree with biden and harris? he couldn't think of a single thing. it's an amnesty bill. it was a bad bill and i've shown myself to be independent from president trump and anybody else. on fentanyl we invested in bridgewater in many companies approved by the united states government. senator casey invested personally in the very same company that he's referring to. >> respond to that, sir. sen. casey: not true, dennis, and that was fact checked. mr. mccormick made a decision as a hedge fund c.e.o. to invest in the largest fentanyl producer in the world. that allegation was me was fact checked and shown to be a false charge. mr. mr. mccormick: fact check that. the pittsburgh editorial. >> every poll has shown that the economy is the number one issue for pennsylvania voters who agree that prices are just too high. mr. casey you have led efforts to target companies for so-called greed fflation. can you show an

we're going to move on and talk to mark out in bridgewater, massachusetts. mark, you're on c-span.lease get. caller: peter, good evening to you and good evening to your distinguished guest. professor homestead, i listen to some of the comments you were making about how you could find so many strands to talk about from in work by willa captainer and i wondered if -- cather and i wondered if it was possible that -- host: mark, go ahead, we're listening. caller: pet i'm -- i w trying --ist trying think about -- peter, can i call you back? host: no, you cannot. can you turn down the volume on your tv, please? go ahead and just finish your question and then we'll have professor homestead answer it. caller: ok, i just was curious that if willa cather had taken more of a satirical approach to her novel and rather spoke and -- narrative, she had been a little bit more conscious or made the readers conscious of the amount of lessa fair practices that were taking place on the plains that it would have been possible for her to reach out to an audiencanprevent the possibility of climate-induce

of bridgewater, you oversaw a company that produced fentanyl. can you explain that in mr. an amnesty bill. it was a bad bill and i've shown myself to be independent from president trump and anybody else. on fentanyl we invested in bridgewater in many companies approved by the united states government. senator casey invested personally in the very same company that he's referring to. >> respond to that, sir. sen. casey: not true, dennis, and that was fact checked. mr. mccormick made a decision as a hedge fund c.e.o. to invest in the largest fentanyl producer in the world. that allegation was me was fact checked and shown to be a false charge. mr. mr. mccormick: fact check that. the pittsburgh editorial. >> every poll has shown that the economy is the number one issue for pennsylvania voters who agree that prices are just too high. mr. casey you have led efforts to target companies for so-called greed fflation. can you show an example of where price controls have worked to benefit consumers and not hurt businesses? >> first of all, prices are too high. especially when you go

we're going to move on and talk to mark out in bridgewater massachusetts . mark your on, please go ahead . >> good evening to your distinguished guests t. prof. homestead, i listen to some of the comments you were making about how you could find so many strands to talk about from this work by willa cather and i was, i wondered if it was possible that. >> where listening i was trying to think about, can i call you back? >> no you cannot, can you turn down the volume on your tv? and go ahead and finish your question and then wewill have prof. homestead answer . >> i just was curious that if willa cather had taken more of a satirical approach to her novel and rather spoke in a narrative she had been a little bit more conscious or made the readers conscious of the amount of laissez-faire practis that were taking place on the planes and it would have been possible for her to reach out to an audience and prevent the possibility of climate -induced change during the 30s. >> we t a lot to work with there, what would youlike to say to mark . >> so when she was writin

. >>> and a big interview you will not want to miss next week, ray dalio after the bridgewater conferencees to investing, we live in uncertain times. some assets can evaporate at the click of a button. others can deflate with a single policy change. savvy investors know that gold has stood the test of time as a reliable real asset. so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com. business. lear it's not a nine-to-fiveway to proposition.ld it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. >>> welcome back i'm silvana hanao with your update ukrainian president volodymyr zelenskyy said today russia plans to deploy north korean tr

peter: mark in bridgewater massachusetts. caller: good evening to you and good evening to your esteemed guests. professor bell, you must agree with me that thomas payne was probably one of the most provocative writers that ever existed ever and all of history. he must have had access to certain information from some of the people that he connected with in england back in the day. when he came up with statements like king george was receiving 800,000 pound sterling annually and that he and the ministry were giving large tracts of land away to their cronies in the colonies. even before 76. my wife and i just visited baja this summer and i realized that one of those prizes went to governor hutchinson who is a master suit -- massachusetts governor back in the 60's. he had been awarded the entire peninsula which comprises baja -- could you possibly make a comment about where thomas payne was gaining access to some of this information? thank you very much. richard: thank you mark for the question. certainly graft is a feature of an

ray dalio is with me, founder of bridgewater.or taking the time. >> glad to be here. >> you've been coming here for a long time. i want to frame the conversation with you in the way you look at the world right now through history focused on the big themes like debt and the internal order changes. we'll talk about the election. >> five big things. >> internal order -- >> so credit, debt, and drives the economy. and how that works. so number one. and then it goes through a big cycle. number two is internal order and disorder. >> yes. >> so number three, which we're experiencing in the united states -- >> for sure. >> -- some other countries. experiencing at an extreme. number three is the world order. >> yes. >> the rise of a great power and then the competition. >> this is china v. the u.s. >> china and then those and then, yes, what is the order? what is the rules? >> yes, trying to figure that out. >> so it changes. it used to be dominance. it's no longer dominance. >> number four is -- >> pandemics. >> yes. acts of nature, drou

bridgewater investor 3% in china.or casey, as the treasury oversaw bridgewater before i got there, approved all of these investments, so he is a hypocrite and a liar. this is an important question about what the future holds. he is antibusiness, anti-success. i've had accessible as his career, served our country in iraq. i'm an outsider, he is a career politician. >> former president trump imposed tariffs, said he would like to increase them especially on chinese products. most economists say this will lead to higher prices. do you support this? mr. mccormick: i understand senator casey is running an ad where he worked with president trump on the terrace. there are certain industries we have to bring home, cannot have them in the hands of china or anything else. pharmaceuticals, semiconductors. for the rest of everything that betrayed for, it has to be a fair deal. he did that with steel. the biden-harris-kc team cap does tariffs in place. i am supportive of using tariffs strategically to make sure american workers ge

people are talking about maybe mccormick of bridgewater coming to the u.s. senate.e program, the campaign trail gets ugly. >> let me ask you tonight, do you think donald trump is a fascist? v.p. harris: yes, i do. fmr. pres. trump: after all the catastrophe she has caused, kamala harris can't say one thing that she would do differently. jonathan: for house speaker kevin mccarthy is up next. ♪ personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. jonathan: equity futures on the s&p 500 are up by 0.5%. put a bounce in this equity market. the bond market, 4.1938 on the 10-year. the campaign trail gets ugly. >> let me ask you tonight, do you think donald trump is a fascist? v.p. harris: yes, i do. yes, i do. i also believe the people who know him best on this subject should be trusted. fmr. pres. trump: after the catastrophes she has caused, kamal

. >> and dan is in bridgewater, new jersey.of these students are getting extra credit for watching. go ahead, dan. >> i had the tremendous pleasure of going to friedman's. i don't want to comment on economics, because to me, economics is somewhere between political science and cosmology. what i want to point out, the friedmans were very empathic and some pathetic people. they seemed to care about the people on the short end of the stick . it was a vexing problem they talked about extensively. i think that should never be forgotten, because he is perceived by many people as a right-wing person who did not care abt us, but he had the jewish ethics, open-heart thin toward other people and he was very, very upset, escially during the civil rights movement. >> now, dan, how did you know the friedmans ? >> i was at berkeley, you know, got all involved in that and i met him after that. >> thank you for calling in. there were other people who knew the friedmans, respected the friedmans, this is from the c-span archives . here are some

dan is in bridgewater new jersey hope all the students are getting a strict credit for watching, go ahead the tremendous pleasure of knowing i don't to comment on the economics because to me economic system or written political science and cosmology. but what i would like to point out is they really care about the people on the short end of the stick. it's a vaccine probably talk about extensively. it's perceived by many people as a right wing person who did not care about others. they had the jewish ethic especially during the civil rights era. stuart dan, how should the frdm's? >> i was at barkley and got all involved in that and i met him after that. >> are right thank you for calling in. there were other people who knew the freedman's, respected the freedman's this is from the c-span archives here are some well-known politicians talk about milton and rose freedman. >> a winner of the nobel prize milton freedman's technical mastership his profession is unchallenged. more central to his work is its moral component. an idea of human freedom in which man's economic rights are as vital to

a career politician bob casey, approving using bridgewater, the firm i worked with and four, before ire, all of these investments happening were happening under bob casey as treasurer. he invested 31 dirt -- trillion dollars and he takes lobbying money from firms selling drones to the chinese military. he does not have credibility on china. moderator: your rebuttal. sen. casey: he said in 2023 that the divisions -- the decisions made as ceo he has responsibility for. he doesn't want to take responsibility for the decisions he made as a ceo to invest in china. to invest in the rise of china, after we knew china was causing job loss. he helped vladimir putin before he invaded ukraine. if he talks about anti-semitism i have the leading bill in the senate to combat sen. casey: number two is he is the one who invested in not hedge fund money but his own personal money, millions of his own personal money and a website that platforms hate, holocaust denial, and anti-semitism. moderator: that is his money. moderator:rebuttal. -- that is his money. moderator: rebuttal. mr. mccormick: he and ch

the richness of a career politician, bob casey as the treasurer of pennsylvania approved using bridgewater, the firm i worked with before i ever got there. all the investments that were happening were happening under bob casey's treasure. bob casey has invested $31 trillion in china mobile which had close ties, he takes lobbying money from firms that are selling drones into the chinese military pla, this is not a guy who has much could ability on china. >> moderator: your asking a 20-the second rebuttal. >> casey: he said all the decisions he has response >> caller: which what he doesn't want to take a spot >> caller: are the decisions he made as a ceo to invest in china in the rise of china after we knew china was causing a lot of job loss in the united states. he invested in vladimir putin just before he invaded ukraine. finally if he's going to talk about anti-semitism i have a bill in the senate to combat anti-semitism. he shouldn't laugh about that. number 2, he is the one who invested not hedge fund money but his own personal money, millions of his own personal money in a website tha