tell jokes and cut hair. and that's the way it was, just always fun and laughter in the barbershop and that's all i was doing here. but i got fired for it. >> offender buchanan was fired from the barbershop for making inappropriate comments towards staff. so the female officer working the barbershop fired him for that. he was told he had a certain amount of time to find a new job. the time passed and he was unable to find a job. as a result of that, he assaulted two staff members in "f" dorm. >> cadwell received only minor cuts. but taylo is now experiencing an irregular heartbeat. >> you got any nitro? give him another one and get him out of here. >> what made me mad about mr. taylo is he's supposed to be my counselor. i'm in his dorm and he wasn't even trying to help me. >> the decision is made to transport taylo to a nearby emergency room. >> after i did see him laying down there, i didn't feel too good about that. i seen the man down there and i felt sorry for him. you know what i'm saying? >> then he did

you cut through it much easier that way. >> mm-hmm. >> and always keep your fingers, when you cut, curledt sticking out. i see a lot of kids sometimes like to stick their fingers out, like that. i'm like, "please, please, please, turn your fingers under so that you can tuck your thumb in behind your fingers, like that. >> so, should i be starting cutting e cilantro? >> yeah, if you can cut me off just a little swath of that cilantro. you know, one beautiful thing about cooking is, truthfully, the measurements aren't that incredible. this is a four-cup food processor. one big tomato is gonna make about a cup of salsa there. so we're just gonna make a small batch of salsa right now, okay? so, just... >> so, you really have a newbie in the kitchen here with you, so what should i do? >> so, you just want to take your knife and grab it and keep your hands away from it and cut right across there and just give me a handful of that stuff. >> all right. >> all right. >> like here is good? >> yeah, just like that. just pull it right back. keep your fingers away. there you go. now just hand that to

it's usually ten to 20 cuts at a time. >> zigler says she sees kids who so cut from all socioeconomic backgrounds. issues but others appear outwardly happy. >> you go where is this coming from. you are a happy kid. >> they realize now she was sleeves. >> i got a text message from a neighbor that said have you seen your daughters in ceramic count and i said an investor can account for her 12 -year-old chris mark. >> she was posting pictures of razor cut she made on our arms. >> that's what we found out she had three and ceramic counts. cheers for e-mail accounts. she is to facebook accounts. >> they describe a roller coaster of emotion. >> it's scary, it's frustrating. >> like some kids, third for attention. >> very much in it place she could show people very easily. >> but it evolved into something else. >> what started as an attention thing she got very used to. now they're closer to her arm so she can wear socks short sleeve >> zigler says kids described >> it's quickly becomes a compulsive act to relieve stress or pain. >> psychiatrist say self cutting has become an adolescent copi

you talk about social security cuts and you make a lot of cuts but talk about the other mandatory cuts which really hurt people. i'm not going to support that. you all may because it's in your budget. i'm not going to support that. democrats won't support that. but you have to respond to your constituents when you force these cuts down their throats. . the chair: all comments are to be addressed to the chair. the gentleman's time has expired. the gentleman from indiana is recognized. mr. messer: how much time do i have? the chair: the gentleman has 1 1/2 minutes. this ser: mr. chairman, debate is a remarkable one. there's only one group heres that has a budget that balances -- here that has a budget that balances. for the fifth or sixth or seven evb -- seventh year in a row 'll submit a budget that balances. the gentleman speaks of the president's budget. he'll have the unique, historical legacy of having never offered a budget that balances ever. this one doesn't. his others haven't. the truth is that when the president's prior budgets have been put on this floor, they have received v

or legs that's been cutting. it's usually ten or 15, 20 cuts. at a time. >> . she sees kids who self-cut from all backgrounds. some with obvious emotional issues. but others appear happy. this couple who say that i that >> a roller coast of >> it's scary. it's frustrating. we felt like bad parents for not knowing. >> she started cutting herself they believe for attention. >> . it evolved into something else. >> it started an attention thing. she got very used to. now they're closer. to arms up here. so she can wear short sleeves. around her ankle. >> . kids describe cutting as >> . we have locked down our phones. tablets. you know. all the computers. >> . thousands of pictures, posts and videos. that make self-cutting seem like it's okay. >> it's again it's this weird social net work. >> somebody will text a friend. and say i just cut tonight. >> if you see that on your kids texting.

will iran cut production? will mexico cut production? will brazil cut production?going to cut? francine: that was igor sechin. he spoke to us exclusively on the sidelines of the international petroleum week conference in london. as the oil majors grappled with the price of crude, total has posted fourth quarter earnings that beat analyst estimates and the company says it will deepen costs and investment cuts. joining us from paris is the head of oil and gas at alpha value exxon. great to have you on the program. thanks for coming in. how worried are you in general about the smaller oil and gas companies, someone like total. they didn't do too badly and it's a tough environment but are we looking at defaults of some of the smaller rivals. >> i am. it's driven mainly by better output or more efficiency and good for the future. where we're a bit worried is on the refining side because it's supported in the 50% of the earnings and that looks like for us not stable. and we see it decreasing in q-1 which could be an issue regarding the cash flow position and in the end i

or legs that's been cutting. it's usually ten or 15, 20 cuts. at a time. >> . she sees kids who self-cut from all backgrounds. some with obvious emotional issues. but others appear happy. this couple who say that i that >> a roller coast of emotion -fplts. >> it's scary. it's frustrating. we felt like bad parents for not knowing. >> she started cutting herself they believe for attention. >> . it evolved into something else. >> it started an attention thing. she got very used to. now they're closer. to arms up here. so she can wear short sleeves. around her ankle. >> . kids describe cutting as >> . we have locked down our phones. tablets. you know. all the computers. >> . thousands of pictures, posts and videos. that make self-cutting >> it's again it's this weird social net work. >> somebody will text a friend. and say i just cut tonight. >> if you see that on your kids texting. then you want to start asking your own kid about it. >> how do you start that conversation. >> . have you ever thought about cutting. i know that some kids in your school probably do. >

alix: credit suisse is not the only cutting jobs -- barclays plan to cut 1200 investment banking jobsdeutsche bank with losses after stinging loss in 2015. scarlet: will european banks fake -- face more losses? the banking sector has gone through years and years of job cuts. what is different about this latest round? square one foro the next. while the times were good, they did not cut enough. times are bad. revenue is slumping, business is down. to give you some idea, headcount is down by a quarter over the past five years. costs are only down by 8%, it is estimated. they are not ready. they did not get themselves ready for a new downtime, a new cycle. alix: who is at fault -- management, regulators -- could regulars have imposed more restrictions to get up to snuff? lionel: there is no doubt regulators did their job and forced banks to load up on staff at the same time they were firing traders and tankers are they had to hire compliance and risk managers. that is part of the reason. on the other hand, we should not absolving management. they kept faith in the model. they thought a r

laurent cut production? will brazil cut production? who is going to cut? they will be cutting production? we will elect to see that reflected in our investment plan. if doing 2014, 2015, our friends rock oh, then they will have a loss. i think this issue is quite come located. here it is necessary that companies do not have a loss. one is to think how do you achieve that in such circumstances? >> in principle are you against it? are you just skeptical? >> i am protecting the interests of rosneft shareholders. we will provide our markets with oil. competitive environment, with those we have just mentioned. guy: from russia. kennedy is with us. how did that happen. will: total has one of the biggest refining businesses. there started up a lot of new projects in their production and their production went up 9%. -- and their production one of my percent. guy: what happens next with this oil market. a big move in the dollar trade. that will rip in them to -- that will ripple into the oil market. getting to some key levels where we are going to break and storage

i cut myself and stuff like that. >> show me where you cut yourself. >> want me to stick my arm out? iowa state penitentiary serving ten years for stealing cars. he spent the last two years as cell house 220 also known as the hole. >> this is your maximum security unit inside of a maximum security prison. here's where we house all the inmates that couldn't be handled at another institution or couldn't be handled in our general population area. now we have to deal with them over here. >> during his time in prison and especially in the hole, murray has found a coping device in self-mutilation. >> i've been in here so long it kind of releases stress. >> how do you cut yourself? >> i was on razors but they put me on razor restriction and i find stuff in here, staples, plastic from deodorants and stuff like that. >> when was the last time you cut yourself? >> about two weeks ago. >> the next day on their way to another interview in cell house 220, our crew ran into murray as correctional officers were moving him into a holding area so that they could inspect his cell. >> can you tell us w

you cut through it much easier that way. >> mm-hmm. >> and always keep your fingers, when you cut, curled under so that they're not sticking out. i see a lot of kids sometimes like to stick their fingers out, like that. i'm like, "please, please, please, turn your fingers under so that you can tuck your thumb in behind your fingers, like that. >> so, should i be starting cutting the cilantro? >> yeah, if you can cut me off just a little swath of that cilantro. you know, one beautiful thing the measurements aren't that incredible. processor. one big tomato is gonna make about a cup of salsa there. so we're just gonna make a small batch of salsa right now, okay? so, just... >> so, you really have a newbie so what should i do? >> so, you just want to take your knife and grab it and keep your hands away from it and cut right across there and just give >> all right. >> all right. >> like here is good? >> yeah, just like that. just pull it right back. keep your fingers away. there you go. now just hand that to me. >> okay. all right. that was easy. >> that was pretty easy. >> [ laughs ] >> you'

how you get cut. pso i always tell people "cut on pthe meat side." pyou cut through it much easier pthat way. p>> mm-hmm. pwhen you cut, curled under so pthat they're not sticking out. pi see a lot of kids sometimes plike that. pi'm like, "please, please, lease, turn your fingers under pso that you can tuck your thumb pin behind your fingers, like pthat. pcutting the cilantro? p>> yeah, if you can cut me off pjust a little swath of that pcilantro. pyou know, one beautiful thing pabout cooking is, truthfully, pincredible. pthis is a four-cup food rocessor. pone big tomato is gonna make pabout a cup of salsa there. pso we're just gonna make a small pbatch of salsa right now, okay? pso, just... p>> so, you really have a newbie pin the kitchen here with you, pso what should i do? p>> so, you just want to take pyour knife and grab it and keep pyour hands away from it and cut pright across there and just give pme a handful of that stuff. p>> all right. p>> all right. p>> like here is good? p>> yeah, just li

profits and cutting jobs. theree thinking is that will be a rebalancing over the next 12-80 months, and that the market, without intervention from saudi arabia, will rebalance. the question is -- and the thing is, this is saudi arabia's intention, to drive out producers. angie: they stated that from day one. reporter: absolutely, so why would they cut? angie: why would they, indeed. and they cannot look at what that is going to look at for like for that future. we have been talking about oil all day. currently, there is a 91% correlation with equity prices. we would like to see opec and russian and saudi arabia start to take a proactive step to cut all production, because that is positive for growth, positive for sentiment, and equity markets as well. cutting all production -- oil production, picking up inventory, and then we will see equity markets rallying. it is good news around. we would hope there would be cuts coming in today. everyone is going to have to contribute. >> there's a lot of talk, but not a l

with are 3200 people cancer hit by this cut. will the prime minister now confirm when that matter returns to the commons he will ensure that the lord's position is upheld and people like her do not suffer the cut that he wanted to make? there are two: sorts of employment and support allowance. there are those who are able to train for some work and those who go on getting support. that is the situation. in the future the work-related activity group should be paid at the same rate as jobseekers allowance. that is for future claimants. not for existing ones. aty continue to be played the same rate. if someone has cancer and can't work they should be in the support group. we've had this issue looked at again and again. that is what a compassionate conservative government does. he cannot wash his hands for the situation in wales. in england take 75 days waiting time on average, in wales it is 197 days. takes twoof pneumonia weeks longer. labor are running wales. he is responsible for labor. i got the phone and tell her to stop cutti

we will cut if the saudi's cut, the brazilians cut.re countries where the state controls the oil industry. shale producers, you tell them to cut, no one is going to cut. he said iran, is iran cutting? they've been -- imagine the mexican standoff. these guys have been in jail. they just got out. everybody has their guns out and they are being told to walk away. jon: really, the story is state versus private actors. on,'m hearing this going i'm wondering if it is going to gain traction. that is great news for me. i have decisions to make based on profitability. the state versus private scenario -- about how italking would be crazy for the iranians to cut production. that would be a subsidy for the higher cost producers. these guys in north dakota are saying, please, because it will bring them back into the game. this is the point ian taylor was making as well. we are to have a natural buffer for the next five to 10 years. as soon as prices recover, the shale producers, no matter what opec does or doesn't do, are going to come back into t

if cutting the cord isn't for you... how about at least cutting your costs. as elizabeth wadas shows us that sometimes all it takes is a phone call. laura and brad hammes...are raising their 17 month old son logan here in the quad cities. and they're learning quickly... with a growing family... comes growing costs. l 34:01 diapers are expensive, everything's expensive when it comes to a child. after analyzing their budget month after month...the family ready to cut costs and save... the first thing on the chopping one hundred seventy dollars a month. l 34:53 it's a pretty big dip in the budget every month to pay for our cable bill. it'd be nice if we could get it down definitely." brian delaney is a budgeting expert when it comes to helping families like the hammes' reduce costs effectively. and over the years... he's found a good starting place when deciding what to cut. b 1:42 the cable bill...it's not like groceries. that's a need not a want. depending on if you're buying steak or macaroni. but the cable bill is certainly more of a want than a need so that

i will cut if you cut. if we see other countries cut, we are ready to cut.t want to call this a mexican standoff because that suggests that no one has an advantage in this. in this battle for the market, some countries fare better than others. nothing there is going to be a deal. it is in everyone's interest to you getch as you can into the argument of how you are producing which is a separate conversation. jon: the rules are, you ignore the opec rumor mill unless it is the saudi's speaking. if they agree to production cuts, why should i believe we will get any? reporter: you should listen to the saudi's. keep in mind that the uae as part of the saudi camp and saudi faction. they do float ideas through the listen to alley on my lmayeni. you do see a lot of movement. the nigerians will be going to saudi arabia. the saudi king will be meeting with putin. we could get some movement. iraniansat what the are doing right now. we just got their first pricing and their undercutting with iran heavy. their version of crude they are selling in europe. they are undercut

he took over last year and tried to cut costs. toshiba is expecting a record loss of $6 billion this year. toshiba may consider quitting the computer game and sell the pc plant in china. softbank is ready to dig deep in its own pockets to shore up its share price. the company is prepared to spend a record amount mine back stock. our managing editor peter ahlstrom joins us from tokyo. by $4.5 says it can billion in stock. how does that compare with their past purchases and others in japan? it is a record for softbank, as you say, angie. it is the biggest we have seen in japan in the recent years. it is certainly a very big signal from the company that they feel like a stock is undervalued at this point. they will put down a big chunk of money. they could buy as much as 14% of the shares. angie: is it about timing? why is softbank buying shares now? the fact that they think it is undervalued? you look at the stock, it's down 28% this year. they have evolved into a holding company where they have big assets. alibaba, a stake in sprin

its dividend and cutting jobs and cutting spending. these shares are lower unlike noble. this is the earnings snapshot and this looks and growth. 500 companiess&p that have reported are down 3.4%. this is nearly all of the companies in the s&p 500 that have reported. alix: almost out of the horrible woods. thanks so much. let's check in on bloomberg first word news. ramy: thanks very much. apple is top of the news. but first we will go to turkey were there has been a large explosion in the capital of turkey. reports indicated it may have been caused by a bomb but several people have been injured. the turkish news agency says the explosion occurred near a military installation. we will continue to follow the developments. apple ceo tim cook is accusing the u.s. government of an overreach that will set at rangers president. he is rejecting the court order to help the fbi on lock iphone used by one of the shooters in the terrorist attack in california. in an open letter coming rights it would be wrong for the government to force apple to

tell them to stop cutting our nhs. answ >> mr.peaker, it's very is wh interesting the primeet ministe did not answer the question i put which is whether ort not he will proceed with the cut in esa to 3,200 people with cancer at the present time..he i hop he thinks seriously about this and does not proceed with this proposal. il will find that mcmillan cancer support lnrethink mental health illness, parkinson's uk are all united in opposing this cut because of the affect it will have on people with a range of very serious conditions. the prime minister used to say that those with the broadest bo shoulders should bear a greater load. can it be right that cancer patients and those with r disabilities on 102 pounds per week really are those with the v broadest shoulders who should bear this cut? please, prime minister, think th again and don't try and reverset the decision of the house ofh lords on this important matter.f >> the people with the broadest shoulders are the highest earners in this country and they're paying a higher shar

china set the scene after it cut in the yuan reference rate.larger than expected cut to its dividend. that's it for bloomberg european markets. see you tomorrow. ♪ >> welcome to bloomberg markets. ♪ >> good afternoon. i'm alix steel. here's what we're watching at this hour. the world's biggest names in private equity and venture capital are gathering in berlin for the 2016 super return international conference. we will go there live for an exclusive interview with ken mehlman. are they good times over for google and amazon stocks? some say yes. macy's is trying a new strategy. the company is turning several stores into discount outlets. will investors warm up to the retailer again? for more on today's activity, let's go over to julie hyman at the markets desk. it has been about oil and stocks again today. lows oftocks near the the session still as oil

attend basis point rate cut or a further rate cut with some mitigating effects for the banks?- a-10 basis point rate cut. >> we have to discuss the instruments, hypothetically. firstd to analyze this and then with a necessity to act, do this. andou board about the risks the low interest-rate environment, negative interest rate environment. it big topic of conversation. we saw deutsche bank hit pretty hard by expectations that there might not be earnings potential in the future. do you feel than the kid that your low interest rate warnings are finally being listened to? >> this is a broader issue. this survey we conducted with smaller banks found out of course the low interest rate environment reflects negatively on their profitability going forward. course, wese, of have to watch that, as a through thend banking system. >> the challenges are not due to a low industry environment -- interest rate in miami? -- interest rate environment? you are their supervisor. >> it is not smart for a supervisor to discuss individually supervised entities with the public. we go to the supervis

you have to be careful not to cut too much. so much.e up next, david cameron's charm offensive as th continues as the clock ticks on brexit. that's next. ♪ francine: will come back. this is your oil check. this is the picture across the board, looking at brent and wti. brent is one i want to focus on -- it is still gaining, but by a lot less. this is after an hour, although we understand that saudi and russia and two other oil producing countries have agreed to these production. this may be a little bit of a disappointment, because a lot of what was priced into the market was a production cut. we had some great analysis by javier bals, saying it was a first that. at police we know they are ready to act. in his trip to paris, david cameron failed to win over francois hollande ito his reform agenda. let's get a hans nichols in berlin. hans, if you look at the pound, we are seeing quite a lot of volatility. is there any room for optimism? hans: well, there is room for optimism in that everyone getting together will try to hammer t

central bank cuts further down to negative territory.r pressure, dow down 300, s&p down 35, nasdaq down 88. >> lauren: stock markets in hong kong and south korea reopen for business and play catchup to the global selloff. however, japanese and chinese stock markets they are closed today. >> nicole: where is the bottom in crude oil. everybody is looking and watching at 26.70 the barrel. 2.7%. oil is down about 17% in six trading days. >> lauren: above-news excluizive for hillary clinton, now we learn that top clinton aids also handled top intelligence on her server. >> nicole: we will have all the reaction and it's not good. >> lauren: in sports u.s. olympic committee goes on the offensive on against the zika virus and lebron and kobe face off for the last time in cleveland. we will have the highlights. welcome to fbn:am, first look at morning markets, breaking news and what to expect for the day ahead >> nicole: winner of new hampshire primary, donald trump talking about the gop presidential race. >> we started off greta right from the b

in the past, opec has cut production in response. not this time. >> before the oil price collapse, the assumption is that opec would underpin the oil price by cutting production. but the key oil producers in the gulf, saudi arabia and the other gulf states, said we're not going to cut unless other people cut. >> reporter: daniel yergen is vice chairman of ihs, an international information company. and the pulitzer prize winning author of "the prize, a history of oil." >> saudi arabia's basic strategy is to maintain its market share in the global oil market, and that's been the starting point for them. >> reporter: at the expense of everybody else? >> yes. >> reporter: so began a huge game of chicken. with saudi arabia and its opec russia, too. and the united states. you've heard of fracking? pumping water into shale formations to free hard-to-get at oil and gas. well, fracking meant that the united states suddenly was producing a lot more oil. so much that for the first time in 40 years, we're exporting it. >> u.s. oil production wen

they are cutting spending.e shaving it back by about $1.5 billion from where they were last year. it's this measure you can use to lay or hopefully shove away the need to cut dividends. cfo were just on the phone saying they see dividends flat over the next three quarters. investors like what they see. it's all about the dividends these days, isn't it? guy: interesting. ryan, thank you very much. ryan chilcote on the oil story. leaders gather in london. david cameron is hoping to get her for britain's renegotiated relationship with the eu. we will bring you the details, next. ♪ guy: welcome back. we are live on bloomberg television, streaming on your phone and on bloomberg.com. 30 heads of state are in syria today for a summit hosted by david cameron and angela merkel. the aim of the meeting is to boost international aide to the victims of the syrian war. david cameron is also gathering support for a compromise on britain's relationship with eu. let's get more with hans nichols in berlin. first of all, let's ta

eastern when the uae minister said they will cut production, do you believe opec will cut out rates? >> very difficult to think it's going to go through, it's more wishful thinking and wishful thinking is not a plan. rumors could move the market temporarily, we have heard this rumor before. the $64 question, who is willing to cut by how much and for how long? everybody expects saudi arabia to carry the big weight and cut its oil production unilaterally. that obviously did not fly at all, and saudi arabia is actually increasing its production to force opec's hand. liz: hold on, hold on. you're saying that just as the uae oil minister is announcing to the world there's going to be coordinated cuts that saudi arabia of all countries is increasing output? >> absolutely. saudi arabia is actually increasing, has been oil production. it's a price war, they want to protect market share. every time saudi arabia in the past played the swing producer, when they come back to the market, the other opec member and non-opec member occupied their seat, took the market share. the big battle is betwee

and it's not always cutting. we have a $2 billion surplus, our credit is strong, our pensions are strong and i have a plan to take to washington and i will have it there in the first hyundais and it will include shipping, welfare, transportati transportation, medicate back to us so we can begin in the states the laboratories of invasion. i've did it in washington. nobody can believe it happened. i've done it in ohio. and i will go back to washington and do it again for the american people. within the first hundred people we will have the plan to get this done. >> thank you, governor. speaking of taxes. -- >> and i'm a big fan of the governor but they also struck oil, so that helped ohio a lot. >> let me talk about that because i know donald believes the energy industry is important but of the 400,000 jobs, maybe 15,000 are connected to this industry because it's early stage. what a president needs do is have a cabinet and whole operation that's jobs friendly. we've diversified our economy. we have it, we just got

what about not only these rating cuts but the idea that dividends could be cut of some of these companies? >> so, unlike 2008 where the banks are under massive pressure. we see a lot of financial flexibility in the oil sector. and we have to preserve the bond holders. >> the concern is are they going to cut these dividends. because all of them seem to want to defend it so much. >> do you think they are? >> some of them. maybe not exxon or chevron, i look at conoco with negative cash flows though and they're all toidoing the same thing to defend their dividend now. >> they can say whatever they want but the market is going to dictate to them what they need to do and in his estimation they can't continue doing what they're doing without cutting the dividend. >> and i would say specifically if this continues, if oil remains down at these levels, the problem scott then becomes we have already cut the capex and we have suspended our repurchase like exxon did yesterday then what? what are the other levers they can pull? sooner or later the dividends would have to be something that would be in j

where do you cut? the company says it was a hard choice but financial changes with the switch as well as unknowns about navigating the new system left them no choice but to close. book worms are facing a closure in the metro this morning... the clive library is closing it's doors to patrons starting today. it's only for a week though. they'll be getting new carpets and a newly reconfigured layout. returns can still be made to the outdoor drop box. the library reopens to the public next it will be quiet and cooler this week. today is going to be mostly cloudy with temperatures still above average for this time of the year, with highs in the 40s. a cold front will move through during the morning on tuesday which will could bring a quick rain/snow mix through central iowa, but accumulation is not expected. winds will pick up during the middle of the week with temperatures dropping back into the middle to upper 30s. warm temps have many thinking morning... we all know the normal things your need for that..

the last thing a company would want to cut, they already cut expenditures mul time times. the guidance was they would cut the cap exto half the level from last year. the fact even that wasn't enough to shore up the cash shows you how they are viewing their outlook for the current environment. >> the capital expenditures have been cut as far as they can. they cannot cut capital expenditures to zero and still be an exploration and production company, it's not going to happen. >> we don't -- we're still getting indications -- we're getting some indications right now, looks -- 36 to 38, somewhere around there. close to 38 or so. give it another few minutes and we'll firm it and get a clear idea what's going on. >> all right, thanks, bob, keep us posted. >> obviously that's going to be a huge story this afternoon. we're also keeping our eye on a new hampshire, with just more than four hours to go until polls close in new hampshire, and polling seems to give donald trump an edge, the battle for second place appears to be very close. let's check in with larry kudlow who joins us

we can't cut to the bone. where are our opportunities to cut? well, the document i referred to, we do have policy options document that gives you some idea of what possible tools you have cutting spending, raising taxes, et cetera that will help with the deficit. >> correct. because you agree with my assessment that tax cuts are spending. >> well, i don't really have an opinion on that. >> i'm not asking for your opinion. i'm asking you to tell me, when we provide tax cuts, that that is spending from the treasury. >> no, it's -- >> we are denying ourselves revenue. >> okay. that's true. >> the same as if we sent out a check to the head start program. that would be spending. we are denying the treasury those monies that we would use for something else if we were funding head start. so it's the same sort of process. let me ask you something else before my time expires, dr. hall. this committee is poised to use a process, budget reconciliation, to cut the mandatory spending such as s.n.a.p. and medicaid and we have had kind of discussions on vouche

devon energy, the name of the game is cutting, cutting cap 25%. 70%, workforce by , andtock moving slightlyng some portions of its , an energysets company fighting to stay alive in the u.s.. another energy stock is kinder morgan, berkshire to hathaway a stake in the company, that stock rising. within the market today, we saw some commodity names like freeport-mcmoran. it got wrecked over the last few weeks, so it is interesting to find the winners in the day, short covering, something else going on? "what'd you miss?" recessionility of a within 12 months is 62% if you look at the bonds spread and the s&p 500 combined, 13% if you look at the yield curve. recession indicators are all over the place. joining us, joseph, who says to 30%rgan says a 25% within 12 months, and a 60% probability within two years. joe: what indicators do you look at to gauge recession possibilities. you read offs upfront or the financial market signals, and we do worry about the feedback loop between those. that's probably the big source of concern, but by separating the you get a sense of what signals are on the mac

cuts. on this.s are rising we do not know any details. right. is brokered and they will take place behind closed doors. also, a venezuelan will be there, fresh from tors of boostls and trying to prices with countries really suffering from these and venezuela. the top oil exports in there and there is always a possibility that one assumes it is going to be and we see prices go higher. this with a lot of meeting and it is likely with the deal. and there arealks heavyweights with the saturdays and the russians to the top to exporters and they hope that they could discuss things and things would go forward before things got up too much. sucker not want to be a sitting around the table and being the first one. they will only cut if everybody agrees to. even if they decide it is in their national interests, they cannot do so easily or quickly. some of the oilfield -14 celsius drop to in the winter and you have things that could cause damage if they are cut off with production and let's say they k

it is not just a rate cut. thenings were to get bad, you would see presumably a rate cut perhaps go to negative. a move to do quantitative easing at varying times, and presumably a move by the fiscal authorities. but as it sits at the moment, there are no plans whatsoever from the government to do fiscal stimulus. we are still in a world where there is lot of tightening coming. so the central bank has to act alone at the moment, but we will see. obviously, you are right. you would like all of those things in combination. the question is, would you get them? brexitou mentioned the word. i will go down that path with you. the banknside of england, the vote that might take place on the 23rd of june. maybe. what kind of preparation should be going on at the bank of england for this brexit vote at this point? danny: certainly, you want to think about a number of possibilities. the first one, obviously, is at the moment there is some degree of uncertainty. you might be concerned that+++ certainly have to start to thi

the bank also said it would accelerate plans and cut bonuses. >> we will also cut the bonuses.t is a tough pill to swallow. by 11%. for divisions that underperform more than 30%. after seneca has reported fourth-quarter earnings that met analysts estimates. profit somerating costs rose to $1.56 billion. the rate of sales growth will slow down this year. the maker of mercedes-benz also predicted only slight gains in revenue and earnings following a record year. that is an operating profit from an ongoing issue. that is the business flash. guy: i will pick it up, let's talk about the valdez. .4 hours, fairly brutal crude oil prices collapse, hitting the majors that is generated and earnings miss. 44% drop in fourth-quarter at shell. -- weg us now is ryan know the numbers are going to be grim. it is a question of the relative value compared to what we're seeing. that point, i-44 percent drop in profit for the fourth quarter actually outperformed. perhaps even a 91% drop in earnings. line with expectations, ofter at managing that sort decline in oil prices when it comes to the prof

we talk about the cuts that are necessary. how is demand? been strong and it is the fear that demand will collapse. it is perception. and it is really go edged story. the reason we got into oversupply situation was the u.s. energy producer. shale revolution started to increase inventory. in the past opec would have moderated production to keep prices down. but they didn't like to do that because then they would lose their customers to the shale producers. so, what eventually happened we got into this production war, at a time when the global economy was very, very weak. and, instead of actually inspiring the economy, inspiring demand, it created uncertainty and fear. and that's where we're at today. so now, if these fears become a reality, if the slowdown in china becomes more pronounced you will see demand really fall. lauren: we're in trouble. phil flynn, thank you so much. have a great weekend. senior market analyst, price futures group. >> you too. nicole: coming up actress meryl streep is in hot water over her comments about diversity i

the saudis won't cut if iran doesn't cut. u.s. producers have lowered costs while suffering, they're still in the game. $27.5 was a pivot point over the last two weeks or so. if we stay above there the market stays in positive range. let's say the upside, there's tremendous resistance above this market and anywhere about 31.5 and 31.80. that's a number that will take some work for the market to get above and hold. >> reporter: supply has been part of the story and forecast hasn't changed for global demand. there could be a caveat coming that's seasonal. >> it could draw down stock, natural gas stocksks. if we have an early spring, it will be driving season coming in. >> reporter: for the moment the market is at a standstill. the freeze heard about today could keep it from moving lower but it's not enough to drive it higher. >> now to patrick for more on the global markets and today's stock market rally and the rally around the globe the past couple of days. he's managing director at brandywine global investments. thank you for bei

pthat is someone who wants to cut pup or cut in line when you have pa right turn only or a left turn ponly lane and you have people pwho have been waiting in traffic pfor quite some time because pthey've gone through several plight cycles and then you have psomeone who cuts on the side of pthis right turn only, left turn ponly lane and goes up to the pfront and all of a sudden, they pcut into traffic and cut peveryone else in. pwhat that does, it just causes a plot of frustration among folks, pyou know, trying to get to work pviolation also, you know, of the ptraffic laws. p>>vanessa: so i imagine there pare some intentional cases of pthis and there may be some psituations where like, oops, i pdidn't realize i want to go pstraight. pnow i know i want to go pstraight. pit's illegal no matter which pway, correct? p>> and there are folks who just

we can't cut to the bone. where are opportunities to cut? >> well, the document i refer to, we do have a policy options document that gives you some idea of what possible tools you have cutting spending, raising tax, et cetera, that will help with the deficit. >> right. because you agree with my assessment that tax cuts are spending. >> well, i don't really have an opinion on that. i mean, i'm not -- >> i'm not asking for your opinion. i'm asking you to tell me, do you provide tax cuts, that that is spending from the treasury. >> no, it's -- >> we're denying ourselves revenue. >> okay. that's true. >> the same as if we sent out a check to the head start program. that would be spending. we're denying the treasury those moneys that we would use for something else if we're funding head start, so it's the same sort of process. >> let me ask you something else before my time expires, dr. hall. this committee is poised to use a process budget wreck conciliation to cut the mandatory spending such as snap and medicaid and we'll had kind of discussio