she is the cio of global equities at allianz global investments.se are markets that are on the move. i want to drill in a little bit more to the oil story to china. is there a deal this weekend or not? china, my guess recently, socgen said we quite like china because there is going to be more stimulus. the chinese are going to have to balance trade. that makes them want to take more china. do you? >> yes, on balance. when we are looking around the world into next year and seeing where there is more opportunity. both for the china domestic but also china related stocks looking relatively undervalued. relaxation,e some even if it is short-term on the trade tensions which have been the biggest downward influence, that seems to be the catalyst. within china, it is not just trade. there are other factors which have been going on, which has been restricting growth. at the same time, you have the more cyclical reactions from the fiscal and within the banking sector. there is a lot of moving parts within china. even more than usual. the negatives seem to b

said, when he and i have to scoot out later, one of the reasons is that we're spending today with the cios across all of the federal agencies focused on the national cybersecurity strategy. what we're doing, the priorities and how we tackle some of the things individually but more importantly what are the things that we go after together and what are those priorities. as goldie said, i want to talk a little bit about modernization and how that relates to cybersecurity. it's a little bit of a chicken and egg discussion. part of the reason that i'm so passionate about modernization and driving it quickly is the way that we become more secure, the way that we protect our infrastructure is to have a modern infrastructure. to not be looking at things that were designed so many years ago that the concepts of the -- the basic concepts, some of the blocking and tackling, wasn't envisioned. i like to start with audience participation kinds of things. especially in this dark room where i can't see most of you. how many of you have actually read the national cyber strategy? i will let you raise your

these tasks every day and what grant said when he and are skewed out later, one of the reasons, the cioscross federal agencies ahead of the strategy. and how they tackle those things individually, and what do we go after together and what are the priorities? >> i want to talk about modernization how that relates to cyber security and it is a chicken and egg discussion. i'm passionate about modernization and driving it quickly, the way that we become more secure, the way we protect our infrastructure is to have modern infrastructure, and looking at things that were designed so many years ago, the basic concepts, blocking and tackling. i want to start with audience participation kind of things especially in this dark room. how many of you actually read the national cyber strategy. and the cyber strategy. how many? how many of you have looked at the it modernization goal, it includes all the focus areas. cyber part of the -- the first bowl around it modernization is a couple things. as we modernize the system many security capabilities were built and that is why we are pressing aggressively

i will raise that point with afl-cio president, richard trumka.union numbers picked up, including unemployment levels among union families about lowest they have been in 20 years. i'm wondering why you would be against the president of the united states if he's helping you provide those numbers? >> well, neil, this president of the united states isn't on the election ballot today. there is a number of people that support workers and those that don't, we're supporting people like claire mccaskill, who stands up for us. josh hawley supports right to work. we're supporting those candidates that support working people. by the way -- 1500 -- >> neil: you have been clear. working families and all that, if that is happening under republican leadership, you're not buying this is sustainable beyond the president, is that what you're saying? >> i don't think that the president is on the ballot today. claire mccaskill is on the ballot and josh hawley is on the ballot in missouri and they are going to say who is best for us. it is clearly claire mccaskill. jo

yousef: we have the cio of pimco who will agree with your comments.r growth, higher rates, a trade war, but it is pressuring credit spreads. do you stay defensive in credit at the moment? yes, the worry in the markets is the widening of credit spreads is indicating more worries going for it. it needs to be closely monitored , especially supply coming to the market in the coming years. there are a lot of maturities coming, $500 billion of investment grade bonds that go to junk. spreads, they the are still low. it needs to be monitored closely. thanks for your thoughts on those markets. up next, emerging markets are showing signs of bottoming out. should investors stay cautious? this is bloomberg. ♪ ♪ manus: a falling oil prices, faltering dollar come and speculation the fed could soften its policy stance. however, deteriorating global growth driven by the u.s.-china trade war may hit the export-dependent economies hard. let's get more. rand, the ratean decision from them, raising rates for the first time since 2016. that is an interesting policy move.

now we are going to call for the cio report. >> item 11. chief investment officer report. >> thank you, arlene, board members. we have a long cio report. you recall last month we deferred this report. it is two months much reporting closing activities of private markets investments into one. it is unusually long. i will get to the closings in a moment. obviously, we had a really brutal month in october in the equity market. the equity market was down 7%. our portfolio is negative 2.74. it will be 2.9. the hedge point lost 1.0% when the bond market was down and the equity market was down more than 7. i believe it is 70/30 mix lost 5.5%. we did much, much better than 30/30. turn -- 70 clash 30. turning to the narrative. the first item discuss us the returns. the second i did want to thank curt for preparing the graph on page 2. we have been reducing our public equity exposure pretty considerably to the tune you have $1.5 billion since march to fund private market investment, private credit as well as absolute return. all of those portfolios h

i have done an on site to meet with the interim cio. they had the current cio that left in october. pete gun you go returned. he was the cio there from 2008 to 2013. i wanted to talk to him to see if h he is make you go changes. he was interim. he was surprised they made him business cards. he lives in australia. he made the commute from australia. it is not weekly. given his title, he doesn't manage day-to-day money it is organizational level. >> he oversees? >> he participates. >> yes, i want the point he does this from 2008 to 2013. he ask accustomed to it. performance continues to remain strong in absolute returns and the longer time periods out performing the benchmarks. the under lying are the pieces of the puzzle. on page 13 to reorient yourselves to read the page. it is a heat map. in green it shows each fund for a particular period. for instance the sftpc stable value for last quarter up 507 basis. it was -- 50 bases. it was in the top half of the peer group. you can see the bench america that is the rise in short term interest rateds. cash has a healthy return with a flat

advocates abroad there are a legal aid and cio that's been operating since the beginning of twenty sixteen they provide legal aid legal advice to people going through the asylum application process and cio operate in the e.u. as well as right across the middle east area their own website says that they've helped fifteen thousand people cross into greece into the european union that way and another two and a half thousand into the e.u. through differing ways advocates abroad issued a tweet in which they said this was all right wing propaganda that it being the video it being altered and it was altered for political means now that tweet was deleted they've also since delete to their online social media presence their twitter account is gone and their facebook account has gone as well so expect certainly more to come of this video coming out and more on that investigation into what's been going on there with n.g.o.s reportedly helping but in some cases asking to break the law those people who are trying to come into the country. last week's u.s. midterm elections underscored the divisions in

the you have cio groups and your own healthcare groups. from my perspective when i talk to people i say i just want you to share. if that means you are not telling us as a state but at least telling your fellow cios in the healthcare industry and you are doing this. you won't share with anyone else until it reaches a level of health and safety where you need to bring on extra resources. again the local to stay kind of thing. then do that. that's fine. it's better than what it is now which is we don't know where to go and how to share effectively so, just to provide basic guidance to the most mature level which is the automation level. you don't have to personally share, just connect and we will no. >> you brought up another point. another reason it is so vital to share. look at the federal foia. everybody knows what that is. every state has a different law. with cybersecurity we have all kinds of complex issues and we have to share statutes as the market evolves. as the situation evolves. in michigan we did not succeed in mimicking the fed

but secretary shinseki blew up at the cio at the time and said i don't care.e're going fix it and cut checks tomorrow. so he went out and we cut checks to all the veterans who are not getting their payments. this president is leaving these guys to get thrown out on to the streets. they can fix this. they can do emergency payments to make sure they get the money to pay their rent and housing bills for their dormitories and they're not doing it. >> final question about the representation in this congress. you're someone who comes from a different background than a lot of your fellow senators. obviously you're a veteran. you're a woman of color. you have a seven-month-old daughter who you are mothering right now as you are in the capitol. there is a whole wave of new folks who are going to be taking office, two new women who will be joining you as democratic colleagues in the senate. dozens of women who have been elected in the house. how does that change the atmosphere and the leadership structures and representation on capitol hill? >> well, we need more women

our cio was the cio at jp morgan chase bank. he had 43,000 i.t. professionals working for him. banks, as you guys all know, are attacks all the time because that's where the money's at. he implemented the cloud. it's a very international firm, one of the largest in the world so he's had an outsider's view of what we need to do to protect ourselves. that was formed by working with dhs. in his role he's helped us create new relationships with dhs and financial institutions so collectively we can go after these threats. the way we've learned to work together is something we're going to carry over to the department of energy so we can do the same thing with critical fru infrastructure. we know there has to be a support role. by volume we have more resources and more skills. we're creating those relationships there and with the fbi. >> thank you, mr. secretary. sandra irwin, space news. back to the topic of the space development agency, which you've been putting a lot of time and effort into thinking through this. what are you thoughts about -- how much change is it actually going t

the election networks in many states are separate from state cios networks. while there were monitor is -- monitors monitoring traffic on the cios network, they were now monitoring on the other networks. it makes a big difference when you share that information with state and local election officials. beneficiary ofe a lot of free services from the department of homeland security, now that elections are dedicated critical infrastructure it puts us on the same pathway as nuclear power plants, water and dam systems and the financial systems. they are critical infrastructures as well. making elections critical infrastructures, which my theirs opposed because of concern about federal overreach, they like the state and local election responsibilities they have. but i would also say that working with dhs over the last couple of years has helped to dispel some of their concerns about the original fears of overreach. working with dhs, we have been free cyberiary of hygiene scans. we have the benefit of risk and vulnerability assessments, they will go into the state a

if i had to include them all will be here all night, but everyone from afl-cio and seiu. [applause] and -- let's hear it for culinary 226. two to 226. 226. [applause] [chanting] >> i want to say that there's hundreds, thousands of people across the country who chipped in what they could to support my campaign over 400,000 of them, and i thank them tonight. but this victory does belong to all of you and i'm so proud of the work we put into win this race. of course i've a few of the people to give congratulations to, our next governor, steve. [applause] feels pretty good first time in two decades nevada will have a democratic governor. [applause] and, of course, on a night when women are winning up and down the ballot, this is a historic night for us. [cheers and applause] because now nevada joins to be the fifth state with two women senators. [cheers and applause] and, of course, we got a little bit more waiting to talk about. suzy lee, she's going to take my chair and this district. so now we will have the majority female congressional delegation. how about that? [applaus

guest.et to our next he is the co-cio. let's start the conversation with brexit.ent," number 10 has told opposition parties they are unlikely to allow amendments to be voted on before a vote on brexit. this is a departure because this could build a case to build a better coalition in-house of westminster to get the brexit deal over the line. what do you make of this so far? i think based on what we have seen yesterday, there is not a tremendous amount of clarity in the way forward. the proof of that is the sterling action. -basedok at the u.k. assets and we haven't seen the rally one would have expected with the announcement we saw downing street last night. that is a reason why we still believe cable will remain in a trading zone and it is difficult based on the lack of clarity going forward as to which way the pendulum will swing. nejra: a trading zone according to you, but do we have a lot more volatility in the meantime and if so, would you be buying volatility? gregory: probably wouldn't be. you would probably be selling it but i know the main question on deb

cio atith us on set, the an investment form and mufg.e a chart that shows the pound against the dollar. , theshows euro-dollar pound against the dollar, and euro pound. euro pound in the top in yellow. the divergence happening back in 2016. the pound has been rallying as of late on expectations that a deal will be done. you said something interesting ahead of this conversation. do mean we could see it as early as today? >> it is looking like next week. there's a deal on the table. in relation to the timing and trigger of the ending of the backstop, it appears that something can be done. in that sense, a cabinet meeting over the weekend is apparently possible. certainly i think, in terms of trading today, market participants will be very mindful of the potential of a development evolving over the weekend. becca be significant in the early part of next week. saying soan stanley the pound. how much upside to the pound against the euro or the dollar? how much upside with their be if we get a deal? at that point, you don't just price in a bre

>>eel dia que nadio cio nacie d toda slas flores dice su hija i luilu lupita que l maÑanitas que eunaacion y siguen este dia para festejarl. >> porque para los mexi es ria de un amor que como otra no hay otra igual. >> regresamos con ustedes a los estudios. >> una leydanenda pedro ifante v vamos al los deportes, bienve o bienvenido. >> si kt¿que tal? >> hay que hablar del tricolor y es que es un hecho que gerardo "tata" martino sera el proximo director tecnico queda un amis o amistoso bajo el mando de tuca ferretti y la seleccion mexicana se prepara para su nuevo apr d aprtipartido amistodso con arg y ytucay tuca ferretti haciendo de ar arbitro y hoy el tricolor vi o viajviajo en duelo charter a mdersen rde ar >> pasamos a la nfl porque los dallas caowboys sumaron la qu v quinta victoria de la temporada y la victima fueron los falcons de atlanta y ezequiel acumulo 1 11 122 yardas terrestres. >> en otro partido del dia de o hoy houston texans vencieron a los ramsms de washington y e r marma mariscal smith sufrio una gran lesion en la tibia y el perone, terrible la fractura. >> pamssamo

border a cio wanna only to retreat after u.s. border patrol agents responded with tear gas mexican authorities also increased security and will deport scores of migrants after arrests were made. now some believe their voyage here may have been in vain the u.s. is processing asylum requests but that can take many months. we have no hope of being here for many days. in the more distant it's looking more and more remote only god knows the time that we will have here what will happen we have to wait a bit. meanwhile the mexican government is offering some hope a job center has opened up for people considering working in the country not quite their dream though of the promised land. and here's a look at some other stories making news around the bond the french president a man in the cross says his country was shot down fourteen of its fifty eight nuclear reactors by the two thousand and thirty five he made the pledge in a speech laying out his roadmap for france's transition to clean energy blueprint comes amid on going to a test of a

in fact, the head of the president of the afl-cio said scott walker was a natnal disgce.but good. he was the big union buster, for years and years. i think three terms, destroying unions' lives, which created the middle class in this country, which saved my family. my father was a teamster. i cesaid this before. he loved father.irthdays off. >> you watched? >> i watched. you watched somewhere else, which was unusual for you. >> oh, you know. i am at my apartment. >> okay. >> and se people from the show were there, a couple friends. and we're like, this doesn't look good. i'm on this rollercoaster from 2016. it looks like we're going to lose. i couldn't believe it. suddenly, todd gets a thing on his phone that says, fox news is reporting the democrats take the house. i said, i love fox news. [ laughter and applause ] change the channel. put fox news on. we couldn't find it because i never watch it. i had no idea what channel it was. we had to search for it. >> you finally found it. >> now, i love fox news. >> last night was a huge night for women, in particular. also -- me

cios and so forth. the voting piece will be deployed in 2020. it's not like going down to our best buy and purchasing a computer off the shelf. these systems have to be built, have to be state specific and for a number of states who volunteer for our voting system guidelines where we do the certifying and testing of voting equipment, there are two labs we have, one in colorado and then one in alabama. 48 of the 50 states do some form of -- use some form of our voluntary voting system guidelines. but that voting equipment will be -- you know, some of it is deployed now but most of it will be deployed in 2020. one piece i would like to talk about with the voting equipment is that there's been a lot of talk in terms of confidence in counting of the ballots by having a paper trail. most of the equipment that is -- if not all of the equipment that's being purchased now has some form of a paper trail to it. one of the voting machine manufacturer isn't making equipment anymore that has some vote vot voter paper trail to it. we want to ensure that the l

. >> well, let's get reaction from damon silvers, director of policy with the afl-cio, they represent 12.5 million union workers across the country the uaw is not part of the afl-c afl-cio, but we are delighted to have you with us here today because certainly some of your workers will be associated with these 14,000 employees who will lose their jobs, at least temporarily. shouldn't general motors be allowed to close plants or reallocate based on economic conditions >> well, you know, first let me just say it's great to be with you and i just want to correct something briefly. the auto workers are part of the afl-cio, they were out for a while some years ago, but they are very much with us. we stand with them all the working people of the american labor movement stand with the auto workers in this situation. this situation, you know, is really about whether or not gm is going to put new work into these plants or whether this is a smoke screen for off shoring work the way that the contracts work, gm is going to have to negotiate this with the auto workers and that's going -- that quest

mike pence the vice president of the united states publicly internationally dressing down unsound see cio at the assy and summit in in singapore nothing seems to make a difference in terms of international condemnation there's been a complete slew of it over the past year or so with regard to the behavior of the medium our government and nothing seems to change do you really feel that it's that the risk in your community has been displaced. so dramatically do you really think that they're going to be able to return home. that is the point you get to the point you know what i was talking about international community the. given leafs obvious for more than two thousand and twelve a stronger lip service is going on we have not seen any effective international action and you know we have seen that sanction has been calling target of sanction military and you know we have not seen anything. what is government have to. you know something effective pressure to the government of course we have seen we appreciated by suppressing. u.s. vice president consarn and raised the issue you know for the ro

joining us, the cio for fixed income at russell investments.y boys and girls had a roaring rally in the past 24 hours. tawas a bit of a cadre -- dry bond auction. what does the flattening tell you about the midterms? time, we havegest expected the u.s. yield curve will flatten. that is genuinely anticipated there is recessionary risk in 2020. ,he midterms have been positive the uncertainty has gone away. it is relatively progrowth out there, but the key issue is inflation. measures of inflation are rising, wage inflation is going higher than 3% and coming out of the midterms, we think the fed will continue its course in hiking rates and that will lead to a bare flattening, the shorter end of the curve rising and we can see the yield curve will flatten ahead. anna: that is interesting. on the subject of flattening, i have another chart. this is two's, tens. this is the one-month view and the volatility in the market around that issue yesterday and reactions to the midterms. we are asking to what extent the fed will be kept on or off course by wh

joining us now is the cio for international fixed income at jpmorgan asset management. what will the markets take away from these midterm elections? you focused on fed inc. -- fed incompletions -- fed implications? it back tobringing markets is probably a little bit treasury supported at the margin , probably a little less growth. it is also probably a little anti-dollar as well. good morning. could the democrats fiscally skir the horses? money 19. bond risk i read a piece that suggested that democrats want to spend on medicare. they want to spend on infrastructure and so do the republicans. it is a question of how soon we get stimulus rather than if and when. nick: that is certainly the big risk. when you look at the deficit in the u.s. at the moment, things are already 5%. 5% increases to 6% or 7%, in a sense, markets are already prepared for that. the key is what that money is spent on, and if that money is spent on things like infrastructure, it could be very additive when you look at growth. anna: it might be nice to think of the fiscal stimulus package direct it t

coming up, david herro, the cio of international equity. this is bloomberg.is your bloomberg business flash. dan gilbert has agreed to sell his detroit casino in a deal valued at $1 million. penn national gaming will pay $300 million and run the hotel. the real estate investment trusts will pay $700 million and own the property. gilbert still owns the scene is in cleveland and cincinnati. the world's largest container shipping line as reza lower end forecast.it they say revenue is improving across the organization. chinese exports to the u.s. group 10% last quarter despite trade tensions. another department star is getting into appliances. bloomingdale's will sell high-end tv's, washers, stoves, and other appliances. the company says the move is unrelated to the bankruptcy of sears. bloomingdale's is following other chains that have added appliances such as best buy and jcpenney. we turn now to wall street beat, where we cover three things wall street is buzzing about this morning. all, cohen's bear market call. hedge funds unveiled third quarter holdings. th

only 1% of all cios say that there will be any adoption of dlt in their organization and 80% of all cios have no interest in this technology. it's no wonder as an organization, government, corporation or bank would ever want to put on a public permissionless distributed trustless ledger always transaction with customers and splir. it doesn't make sense and it's not going to happen. so, block chain is a lot of hype and almost no realities, and expert senior analysts recently concluded. thank you for your interest and i'm happy to answer any questions you might have. >> thank you, dr. roubini. mr. van valkenburgh. >> chairman crapo, ranking member brown, members of the committee, thank you for the opportunity to speak with you today. my name is peter van valkenburgh, and i'm the director of research at coin center, an independent nonprofit focused on the public policy issues affecting cryptocurrency and public block chain networks. what is bitcoin? bitcoin is the world's first cryptocurrency and it works because of the world's first ballistic block chain network. what does bitcoin do? it's

unsure fenske teaches german cio also gives classes in belly dancing and physical exercise in order to make ends meet. caregivers for the elderly bear a lot of responsibility. this patient needs an insulin shot every day without fail. germany has a shortage of mobile caregivers and with an aging population demand is rising but the pay is about three quarters of the average worker's pay in germany. and it makes me angry sometimes other professions with unions can go on strike and they get what they insist on that we're not on their radar it makes me mad. we do so much for society but nobody seems to notice that one can as it's not been enough to has worked multiple jobs at the same time for twenty years now and she's always on the lookout for new opportunities while her income has not gone up for ages the rich just keep getting richer. the income and wealth gaps are totally unfair but i don't obsess about it i'm used to not having much to live on. it's not the end of the world when money is tight i just do without a vacation. and mission one of. the cynic. says she sometimes works fourt

and 80% of all cios a have no interest in this technology. it is no wonder, as no organization, government, corporation or bank, would ever want to put on a public permission, distribute the ledger, all of these transactions with customers, and suppliers. it doesn't make sense. and it is not going to happen. so block chain is a lot of hype. and almost no reality. and expert senior analysts have recently concluded. thank you for your from and i am happy to answer any questions you may have. >> thank you, dr. roubini. >> mr. van valkenburg? >> chairman carpo, ranking member brown, members of the commute. thank you for the opportunity to speak with you. my name is peter van valkenburg a director of research at coin center an independent nonprofit focused on the public policies of cryptocurrency and public block chain networks. what is bit coin? bit coin is the world's first cryptocurrency and it works because of the world's first public block chain network. what does bit coin do? it's simple. it lets you send and receive value. to and from anyon

casey with the cia is making is workingrity -- he with the afl-cio to make sure solidarity gets funds, copy machines, and so forth. then judge clark and his successors as national security adviser's are getting information to the vatican. they are sharing information. walters, former general, acts as a kind of a mystery. -- emissary. the coordination is constant. there's a lot going on between the reagan white house and the john paul ii vatican. fmr. ag meese: yes. >> all right. if you wish to elaborate, get into it. fmr. ag meese: it was a logical follow-up to do this. to provide the ways in which without using military force we could strengthen those forces which were combating marxism and which were constantly moving in the organizing people various countries under the oak of the soviet union and organizing resistance and ultimately organizing a situation where it would not be possible for the soviet union to continue, particularly with their aggression, let alone to maintain where they were at that time. it was a way in which to carry out the strategy ronald reagan had. moral enga

belief i am one hundred percent but i strongly think that actually john mark karr should she was a cio not because he was criticizing. but. because perhaps he knew too much what he wanted to you that's a very good point because you know he's been betrayed in western media as some kind of dissident but he was really in many ways the ultimate insider is well here jonathan one of the interesting things that we've seen here is that we have had a number of senators lindsey graham for example come out and say the most. demeaning things you could possibly say about a person and then we have the cia coming out with its high confidence message i hate that phrase but that they believe that the the trail of the go goes all the way back to the crown prince it seems to me that this is being picked up as a domestic political issue in the united states to go after trump or do you think. well there is an element of that and of course the there is a difference of view between syria and president trump on the question of russian involvement in this election of two hundred sixteen etc so russia has alrea

border a cio wanna only to retreat after u.s. border patrol agents responded with tear gas mexican authorities also increased security and will deport scores of migrants after arrests were made. now some believe their voyage here may have been in vain the u.s. is processing asylum requests but that can take many months. we have nor. we've been here for many days. it's like there's no hope of crossing. but if it was with the difficulties that were presented in the events that occurred i see getting asylum more distant it's looking more and more remote only god knows the time that we will have here what will happen we have to wait a bit. meanwhile the mexican government is offering some hope a job center has opened up for people considering working in the country not quite their dream though of the promised land. that's been now being up to date that some of the stories making news around the u.s. prosecutors say donald trump's former campaign chairman a poor amount of force has violated the terms of the with the justice department

the cio of activealts.com, brad lamensdorf, joins us.efore we talk to him, eric balchunas is back with a drill-down into the fund's hedge etfs. eric: this is the advisor's share ranger equity bear fund. i have known this ticker for a long time. it is very simple to explain. it is an active fund that does nothing but find stocks that it hates, and shorts them. 100% short. right? it has $137 million. that is a lot for me for a fund that does this in the market. look at the price tag, very expensive. 1.5% is the expense ratio. that is high, although again, it is versus a hedge fund, so it is in the ballpark. the rest is the cost of borrowing the stocks. you have to pay to borrow stocks, so you are paying a lot for this. let us look at what sectors it is short right now. if you look, it is short tech, discretionary and a lot of the sectors that have done well. so you are definitely looking at sectors that are going down. so is it doing well in this past selloff? let us look, and let us also compare it to sh, the pro shares one-time inverse l

your cio cheney are exactly was he was helping you in the aegis of who it is for example who also obsessed with supercomputers who was busy initial it will live between us and japan and before that there was also a similar obsession about television and war and also read where you of course nuclear arms rights. and the shias are right because we i feel as been so hyped so much you know every company has to say would be using the goddess if we do a lot so but in the same play what is different is something real but what i think about it i think about more that as it continues development as opposed to radical shift because basically. it's sort of extension of statistics. is about measurements affective because measure you know in so many different i would fields for example to measure when people called the museum we will be corrupt. and it's just that just because the logic of measurement of the musician which is spreading itself into so many different areas in the same direction with ai is that one single thing which is good to me conscious of social not no i don't think so. you also hear