chetan: the corporate earnings estimate that the u.s.us forecast is billing and is optimistic. a possibility of a recession in earnings continuing not only in the first two or three quarters but for the full year. you will see a problem and which will be different from what the consensus is building in. i am sure you have that data on bloomberg. the u.s. corporate sector is showing consensus. it is a sharp acceleration. we do not think that will happen. tom: you are painting a pretty bleak picture. presumably, the banks come to the rescue. will they put a floor under this? chetan: in terms of trade tensions, there are two key economies that are at risk, the u.s. and china. both countries have the tools to defend the problem they will face on account of trade tensions. typically, policymakers will react with a lack. -- lag. and then policy actions will lag. an effect with the it will not be able to prevent the downfall that will come through if trade tensions escalate from here. tom: where does the fed and up if we get a full-blown trade

chetan: you sit down and talk -- rep. do not bully people. you have an agenda that is sustainable over the long term. there is a move in the u.s. around regional and local agriculture. paying farmers to sequester carbon, there are opportunities to reduce the stress level of farmers if we come up with an agenda. the only way we have ever gotten anything done in the united states, and so many people are sick of being divided they want a president who will unite the country. president trump did well -- won my home county so there is an opportunity to do well if tim ryan becomes president. francine: would you agree with the fact that democrats have been pushing president trump for months to take a tougher stance towards china on trade? if that is true, is that not what he is doing? rep. ryan: and is one thing to take a tougher stand, to be firm . i come from a district where china has been dumping steel tubing into my district for a long time, manipulating their currency, stealing intellectual property. tariffs are a tactical