i am a member of guild freelancers, unit of the pacific media workers skilled, cwa 39521 i also chairthe guild's legislative and political committee. we are a union of full-time and freelance journalists, writers, editors, photographers and interpreters, translators, and other communications professionals. we fully support the aim of ab 52 preventing employers from his classifying workers as contractors instead of as employees. i wanted to expand a bit on that collective bargaining issue. is one that receives very little visibility outside our own lengths of free length -- freelance and contract workers. we are considered business owners. by trying to bargain collectively with clients, we have been seen as violating federal antitrust law. but the ninth circuit court of appeals has looked at it from a little bit of a different aspect as the national employment law project reported in june of 2018 , the ninth circuit has held that the national labour relations act does not preclude states from establishing collective bargaining rights for independent contractors or from empowering citie

their impact on various numbers we pay close attention to and uncertainty due to trade and tariffs cwaslso a boilerplate in this report even though 55.1 was equalled exactly two years ago in july of 2017 you have to go to october 2016 to find a smaller number. the reason i bring it up is that the rest of the globe is definitely exporting much weakness to the u.s., some of the trade issues are exporting uncertainty in many businesses not only manufacturing but at the end of the day, it was still a good report in so far as it was over 50 and pretty much every industry but one still reported growth. now, when i talk about global weakness spreading, i am actually talking about a real spread, and we can see the effects. let's go to the white board. this is a chart of ten-year note yields minus ten year bund yields which is minus 38 basis points, we're close to minus 40. this starts in october of 2018 the reason because in november of 2018 we reached the high, 280 basis points separated our tens from the european german ten-year bund. you can see that has now diminished to 233. so the point i