welcome back to the kaiser report i'm asked as are time now to turn to chris whalen chris whalen author and banker i guess yeah hey welcome back i'm max has gone good thing cool you know you predicted trump when and now less than two years later he's he's won over the world basically he's got policies he's shaking things up he has turned over the chord table and you standing on top of that jump up on yes where because all these folks like and so-called liberal elite are very very upset like a michael moore site because they've been revealed as war mongers yet the left or the worse really soros well all of them are quite amazing they they tend to be the left is quite authoritarian it's the end of the day well they have to be because as margaret thatcher said eventually run out of other people's money so you've got to put a gun to people all right so first let's talk trade war your thoughts on trump's trade war with china europe canada mexico chris domestic politics mostly he's playing to the base not only for this election coming up but for the inevitable run for a second term well marke

welcome back to the kaiser report i'm asked as are time now to turn to chris whalen chris whalen author and banker i guess yeah hey welcome back i'm max has gone good thing cool you know you predicted trump when and now less than two years later he's he's won over the world basically he's got policies he's shaking things up he has turned over the chord table and the standing on top of that jump up on us where because all these folks like and so-called liberal elite are very very upset like a michael moore type because they've been revealed as war mongers yet the left or the worse really soros well all of them are quite amazing they they tend to be the left is quite authoritarian it's the end of the day well they have to be because as margaret thatcher said eventually run out of other people's money so you got to put a gun to people said all right so first let's talk trade war your thoughts on trump's trade war with china europe canada mexico chris domestic politics mostly he's playing to the base not only for this election coming up but for the inevitable run for a second term well mark

if they don't like the market, then you know it's time to pull back >> chris whalen, thank you for breakings. >> my pleasure, have a great day. >>> futures yesterday. a big rebound. dow up 225 points and nasdaq hitting a record high and the russell 200 and we're lower right now with the dow down 24 points in premarket. >>> a lot of focus on what will happen overseas and in the uk with president trump and theresa may and what will happen at that conference at 8:45 a.m. eastern ti time we have randall stephenson among other things thanks for joining us. "squawk box" is next ♪ ♪ and prove that the real world beats a post. ♪ ♪ ambitions live everywhere. synchrony helps make them happen with customized rewards and financing available at over 350,000 locations. synchrony. what are you working forward to? are you ready to take your then you need xfinity xfi.? a more powerful way to stay connected. it gives you super fast speeds for all your devices, provides the most wifi coverage for your home, and lets you control your network with the xfi app. it's the ultimate wifi experience. xfinity xfi, sim

whalen. top line earnings tomorrow, what are you looking at? chrisuld be looking on whether or not they can revenue where they can expect. street is looking for 9% revenue growth, lower for the other banks. first quarter was extraordinary. we had a bunch of things going on we didn't expect. it added a couple of billion dollars out of the blue. a lot of funny things we are not going to repeat this quarter. to me, when you look at the fact the operating income number, $71 billion for the industry, was pretty much above $10 billion for last year. a lot of that was special items. i don't expect to see that gangbusters numbers. we don't know about trading. the bank site is growing nicely, but the problem is the cost of funds is rapidly catching up. the gift the fed gave them for five years. that's really driven earnings. 8%, but the went up problem is the cost of money went up 50%. it's going to catch up fast. to see ae're going flat net interest margin shrinking. ramy: i have a bloomberg terminal on net interest margins. you can see the highest here, wel