problems are collocated. and the big problems of the world are not a question of one person coming to the table and being tough. they are structural. saidie: the president has i am more concerned about climate change than isis. david: they are both important. it's hard to rank them. charlie: but he said that. david: but climate change is a comp, structural problem. charlie: that's my point. that's why he said that. but you cannot browse people -- browbeat people into compliance. somehow, i didn't see it coming, and i am not alone. a lot of us didn't see it coming. i am sure there are people now claiming they did, but in part because we had seen this kind of candidate run before. the party that nominated mitt romney, john mccain, bob dole, bush, nominates a certain kind of person. suddenly, we get a blacks one. nonetheless, there are a lot of trump voters out there. i would run into them, but i didn't take them seriously enough. maybe i was blinded by my own prejudices. i have trouble with the people who do vo

as we were hearing from stephen engle, a fairly collocated picture around the currency.oc that we should bear in mind is that they are learning by doing. over the past year or so, like for example in august, i suspect that the market was unexpected. i think the important thing to remember is that, as we are going through this phase and the central bank is learning by its mistakes, they are fixing -- it's much more normal. so i suspects that from here on, it will be a gradual depreciation. anna: against the basket. and what about against the dollar? edgedollar story -- ha funds had been betting on the weakness of the currency. >> on the whole, it will depend on how the dollar fares against the other major currencies, but i still expect the renminbi to weaken against the dollar. i think it is because china is moving towards more liberalized capital accounts. of which itocess will see a continuation of capital outflows. -- wet environment, i see will have some volatility, but i see the case of further depreciation. anna: when you talk about learning by doing, how do you wei

i have this hope, like graffiti and crime is collocating. maybe it's a bit of a dream if you clean up the streets and that, that there will be less crime, but some of it is there. if we keep the data cleaner, we can find out, is it true if you clean up the graffiti quickly, you check that it's been cleaned up quickly, tack be done. i'm a resident, i feel, i've made myself an expert on it. i believe the res depsy required is there. jana brings a good voice out there. what she says is correct, but i think i bring another voice that needs to be heard. as a group, the advisory board doesn't hear my voice. the people who have my voice live in an area with graffiti afternoo often if you have. >> thank you very much. any questions? commissioner cohen. >> i'm in agreement with mr. dillon's assessment of priority given to folks that live in san francisco. i agree that that should be a priority. given my policy, i've sat on rules committee for a long time and i prioritize those that live in san francisco. i agree with your assessment if you're outside

host: robert tweet sent, not collocated at all. fbi can go to court, get a search warrant to search a home or confiscate your computer, same thing. the opposite of what i was just saying. it is not the same thing. again, this order is a fairly unique court order. it is not a subpoena at all. it is not technically a subpoena. a subpoena is when you go to court ended on the court says, the order you to testify, or we order you to produce evidence you already have. this is a court ordering apple to do work that it does not want to do. jeff, maryland, give us your views, jeff. caller: good morning, thank you for having me on. the first thing i want to say is that it is very disappointing for the guest speaker will be talk about terrorist attacks in our country that we downplay them because one, it is too many. failure ofws us the our government. its greatest responsibility to americans as deemed by our founding documents, which is to protect us. the second point i want to make is the most important aspect of all of this is the fourth c

this is a little collocated but i think i can do with it. -- complicated, but i think i can do with it. worth ofhe average net age groups in 1993 -- 1983, first of their average network in 2010. constant dollars. for the first time in the history of america, we have a ineration that net worth 2010 was actually less than their net worth in 1983. that is the 29-37-year-old group. 2010 is worthin less than a 29-year-old in 1983. but look at the elderly. worth nots their net less than it was, it is 150% more. as you can see, or all the elderly, their net worth has gone up dramatically. all the result of the first chart as we continue to spend more and more on the elderly at the expense of the rest of our society. about, i have only talked the size of the economic pie and more of that -- the proportion of how that highest delayed up -- pie is split up. the problem is that there's a the more elderly and less people supporting the elderly. rated a bird rate -- birth of 3.7 to one. we had more babies born in 1957 with 100 million less people than we have today. it is incredible. we had a hundr

host: robert tweet sent, not collocated at all. fbi can go to court, get a search warrant to search a home or confiscate your computer, same thing. the opposite of what i was just saying. it is not the same thing. again, this order is a fairly unique court order. it is not a subpoena at all. it is not technically a subpoena. a subpoena is when you go to court ended on the court says, the order you to testify, or we order you to produce evidence you already have. this is a court ordering apple to do work that it does not want to do. jeff, maryland, give us your views, jeff. caller: good morning, thank you for having me on. the first thing i want to say is that it is very disappointing for the guest speaker will be talk about terrorist attacks in our country that we downplay them because one, it is too many. failure ofws us the our government. its greatest responsibility to americans as deemed by our founding documents, which is to protect us. the second point i want to make is the most important aspect of all of this is the fourth c

stephanie: if it is too early to tell, why would activists want to go after an industry that is so collocatedtal trapped in there with what the fed requires them to do? when dan loeb writes a letter he wants a return yesterday. tom: i have to tell you, the banking industry, when you are a regulated industry and regulators are your partner nothing happens overnight. i think the other part of that activist letter in comerica, comerica trades at 80% of book value. i think the letter said the average is 120 a book. i think for their pure group is probably lower. in any case, it is higher than 80%. i think what happens is they are trying to call a spotlight and put it on top of management to get them focused. i think there will be some response from comerica to this activity. whether or not it leads to sale, i don't know. peter: i want to throw my hand up and not let the regulators be a simple punching bag. if you play football, nobody likes to have a referee. they want a free shot at the quarterback. thanks in general would like to have a free shot -- banks in general will like to have a free sho

host: robert tweet sent, not collocated at all. fbi can go to court, get a search warrant to search a home or confiscate your computer, same thing. the opposite of what i was just saying. it is not the same thing. again, this order is a fairly unique court order. it is not a subpoena at all. it is not technically a subpoena. a subpoena is when you go to court ended on the court says, the order you to testify, or we order you to produce evidence you already have. this is a court ordering apple to do work that it does not want to do. jeff, maryland, give us your views, jeff. caller: good morning, thank you for having me on. the first thing i want to say is that it is very disappointing for the guest speaker will be talk about terrorist attacks in our country that we downplay them because one, it is too many. failure ofws us the our government. its greatest responsibility to americans as deemed by our founding documents, which is to protect us. the second point i want to make is the most important aspect of all of this is the fourth c

i have this hope, like graffiti and crime is collocating.ime, but some of it is there. if we keep the data cleaner, we can find out, is it true if you clean up the graffiti quickly, you check that it's been cleaned up quickly, tack be done. i'm a resident, i feel, i've made myself an expert on it. i believe the res depsy required is there. jana brings a good voice out there. what she says is correct, but i think i bring another voice that needs to be heard. as a group, the advisory board doesn't hear my voice. the people who have my voice live in an area with graffiti afternoo often if you have. >> thank you very much. any questions? commissioner cohen. >> i'm in agreement with mr. dillon's assessment of priority given to folks that live in san francisco. i agree that that should be a priority. given my policy, i've sat on rules committee for a long time and i prioritize those that live in san francisco. i agree with your assessment if you're outside san francisco and want to serve an there is no one interested in the san francisco, it shoul

i have this hope, like graffiti and crime is collocating. maybe it's a bit of a dream if you clean up the streets and that, that there will be less crime, but some of it is there. if we keep the data cleaner, we can find out, is it true if you clean up the graffiti quickly, you check that it's been cleaned up quickly, tack be done. i'm a resident, i feel, i've made myself an expert on it. i believe the res depsy required is there. jana brings a good voice out there. what she says is correct, but i think i bring another voice that needs to be heard. as a group, the advisory board doesn't hear my voice. the people who have my voice live in an area with graffiti afternoo often if you have. >> thank you very much. any questions? commissioner cohen. >> i'm in agreement with mr. dillon's assessment of priority given to folks that live in san francisco. i agree that that should be a priority. given my policy, i've sat on rules committee for a long time and i prioritize those that live in san francisco. i agree with your assessment if you're outside