ray dalio thinks so. >> the federal reserve has got to be extremely -- >> why dalio is warning janet yellen and the federal reserve to proceed with caution. all of that and more when "wall all of that and more when "wall you each drive a ford pickup right? (all) yes. i'm going to show you a next generation pickup. awesome. let's do this. the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. stronger the better. and best of all, this new truck is actually- (all laughing) oh my.... the current chevy silverado. current chevy owners and lessees get a total value of ten-thousand, six hundred dollars. or, 0% financing for 72 months on this silverado all star. find new roads at your local chevy dealer. >> from your first sunrise to the sunset of life, we are with you through life's journey. social security: securing today and tomorrow. visit socialsecurity.gov >> this video produced at u.s. taxpayer expense. >> welcome back to "wall street week." now more of maria bartiromo's exclusive interview with bridge water associates' founder ray dalio. maria:

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guy: ray dalio --a: ray dalio warrants >> we are about to take algorithms and tools and we are goingo give them to others. central bankers in the spotlight, marconi space at the imf ahead of decisions from the boj this week. ♪ anna: this is bloomberg daybreak: europe, our flagship morning show in the -- i'm anna edwards. manus: you go away for one week, what happens? more terror in pyongyang. my bill is going to come in and it will get better. sterling has rallied and this is volatility on the pound. how vulnerable is the pound? theresa may goes to florence. that's what the markets ask. this is the volatility index that we have on one week sterling. it climbed of the most in the world in the five days through friday and the markets are pricing the possibility of a rate hike in the u.k. by when year. the first couple of months of less year, from ability of a rate hike is 100%. anna: we will talk about that this hour. the comments around wages cap underscored the dove. putting up the risk radar, you have to think about where we are on the asian equity session. record-breaking wall stre

dalio.great issues of hedge funds is how they manage internally and what they do after the big guys get done, and can you export those management principles to other platforms -- erik schatzker talks to ray dalio about the principles. ray: we are about to take algorithms and tools and give them to others. out how to make that fit in a number of other companies, to just pass it along. to be used byools anybody who cares to use the tools. are we talking about big companies? ray: big companies who are eager to use it. i don't want to mention their names, but big companies that are eager to use those tools. >> give us a sense. it is a little difficult to talk about it in abstract terms. are we talking about it in a ge kind of company? ray: we are talking about silicon valley type companies. big silicon valley companies. particularly in silicon valley notions more of that that there's a power in crowdsourcing, decision-making, and that it is meritocratic. there is a desire to have those things. a

we can put on economic sanctions to stop people trading >> also had a chance to sit down with ray dalio, founder and ceo of the largest hedgefund, bridgewater associates he talked about north korea's rising risks to the markets and the administration's strategy. >> i think that this can have gio political implications in other words, what korea can reshape the whole asia region is like countries in that region think who am i going to be affiliated with, how does that work so this will have implications all through the -- all through the region >> another big notable moment of the interview, dalio mentioned the implications of losing garrett kohn in the white house. here's what he said. >> if he was to leave, it would be terrible. because it would be terrible in two dimensions it would undermine the future progress of economic reform and so on, and it would also represent a challenge in putting together administration. >> powerful words from ray dalio, perhaps with an audience of one, being president trump in his efforts to try to keep mr. cohn in that role, at least for now. also saying

stay with us. >> ray dalio is here. the founder, chairman and cochief investment officer of bridge water associates. he created the firm in 1975 out of his two bedroom apartment. today it is the largest hedge fund in the world with assets of around $160 billion under management. fortune magazine has called bridgewater the fifth most important private company in the u.s. the firm's success is anchored in its unconventional culture which emphasizes values such as radical transparency and radical truth. dalio expands on those ideas and more in principles: life and work. i'm pleased to have him back at this table. welcome. >> thank you. >> rose: now so tell me the motivating reason to put this together for you. >> why did you want to write this? >> to help others. make decisions better. to help them be more successful. i was originally very reluctant to share some of these principles. they were internal. >> rose: because you thought they had lead to you enormous achievement in the investment world and perhaps personally as

betty: we will hear from ray dalio. sydney, i'm paul allen.his is daybreak australia, two hours away from the open. betty: off to another week. just past 6:00 in new york. we will look at how all the action on wall street will play into the asia-pacific trading day. despite these jitters over north korea, i'm sure that will be a big topic as the yuan general -- gathers.mbly i want to show you how we ended stocks on friday before the weekend. the s&p inching higher, up 2/10 of 1%, the dow climbing 65 points as well as the nasdaq about 20 points, 3/10 of 1%. there is a lot happening this week on the policy front and central-bank policy front with the announcement we are expecting about detailing, reducing the balance sheet and the boj, as well. paul: plenty happening on the central ink front. front waiting on china prices. on the markets, you are right. business as usual with the s&p up 2.5 thousand points. the first market up and running, up 1/5 of 1%. the new zealand dollar weaker against the greenback, the election looming in new zealand. eve

then just on dalio, a few other notable headlines that stood out.know he has been a fan of gold he called it an effective diversifier in a portfolio it should represent 5% to 10% of your portfolio this theme we will hear about what kind of economy where he in dalio called it not too hot, not too cold, about 2.5% to 3% economy. that seems to be a again cgener consensus. are you sensing negative as you have in the past >> no. there have been a few delivering alphas i can remember where there was a lot more uniformity and worry, risk off as we used to say that's not necessarily indicative of anything to expect in the marketplace as you know it's early it's very early. we have more people to hear from >> a lot more to talk about. north korea, they were talking about that in the conversation the debt burden with the pensions, of course, the mystery of who will be the next fed chair and those other spots on the fed. do want to bring in carl who is in tampa, florida, this morning following the latest developments on hurricane irma good morning >> we're pay

dalio ready to share his hedge fund secrets with the world.es at equifax could find themselves on the wrong side of the law. the justice department has launched a criminal probe into their stock sales before the massive data breach. the market is closing at about two hours time. that is get

julia: more insight from ray dalio, next.w york, this is bloomberg. ♪ julia: ray dalio has advice for president trump -- unify the country because america cannot withstand another economic downturn. fund is one of the few to make money during the last financial crisis, and that made founder ray dalio somewhat of a celebrity as policymakers came knocking. lio spoke to erik schatzker and gave him his thoughts on what america faces today. ray: the most important thing is to make sure that we understand what the country's principles .re to have meritocratic decision-making, to try to come up with the best collective decisions, to bring the country way.her in a meritocratic i think the period we are in reminds me very much of 1937 if i were to pick an analogous period. after that time, it was after the financial crisis. they printed a lot of money. asset prices went up. interest rates went to zero. we had a large wealth gap, which created populism. analogous. the central bank begins to tighten monetary policy, and then we had a po

guy: that was ray dalio speaking to bloomberg.e are 8.5 minutes away from the european cash market open. we are good to take a look at the movers today. that's movers today including ryanair. -- movers today including ryanair. this is bloomberg. the market open, eight minutes away. ♪ guy: if you have problems dealing with your scheduling, ryanair does as well. it has had issues with canceling it was a flights. it doesn't look good for an airline trying to find favor. 82 flights canceled over the weekend. defenseeye on the today. keep an eye on the oil sector. i am watching hurricane maria. there are a couple of hurricanes threatening the u.s. bloomberg function, you can follow the track of the storms. maria has been upgraded to a hurricane so you can see here, battering the caribbean islands, come across the leeward islands that of been hit so hard by irma and are in the process of trying to rebuild. this is the least ideal time for them to get hit. the devastation is already amazing. 95% of the homes on some of those islands have

gold prices for you up about a third of a percent yesterday 1337 today >>> ray dalio is sticking by i had bullish bet on gold. listen to what he saided a yesterdat yesterday's delivering alpha conference >> should be part of everybody's portfolio. between 5% and 10% not because it's the best thing, most importantly because of how it serves as an effective diversifier, particularly at a time when we look at the united states and its role in the world. the united states' position in the world is one of a few countries that are powerful countries. it's unique in many ways what is actually happening and the dollar's role in the world, you know, can't be taken for granted. >> interesting comments there from ray dalio on gold we heard from power players like jamie dimon and others at delivering alpha more coming up later in the show. >>> apple getting buzz today after unveiling its highly anticipated iphone x the phone doesn't have a home butt button t unlocks with facial recognition technology it has an extra two hours of battery life and charges wirelessly the price tag, $999. it's not ch

alpha conference here in new york city today the top mind in investing from julian robertson to ray dalio, sharing their best ideas, and other ones with us for the hour, investing legend james chanos, always great, jim, to have you spend any time with us and talk about stocks. >> thanks for having me. >> and the markets and everything else in between steve weis and josh brown. you'll see them throughout the hour as well a great collection of investors on the stage stage behind us giving their views on the market which are at record highs as we're sitting here having this conversation give us your view on where you see the markets and where they are now. if it's justified or not in your mind. >> well, define justified. >> well, why to you think we're here >> i think we're here because basically the central banks have today'sy there's the general view that what's worked will continue to work monetary policy will stay easy, and -- and we'll live with the valuations, so i think that kind of sums up the way i think most investors think. >> yeah, you're not saying, and maybe it's purposefully,

david: that was erik schatzker with ray dalio.ephen parker of jpmorgan, mike schumacher of wells fargo. do you agree it was a beautiful deleveraging? >> very nice term. i will have to use that at some point. i do agree. andou look at central banks wherever, they were on their game in 2008 2009. that is fair. deleveraging did not happen everywhere. ordid not happen in the eu u.k. or canada. jonathan: where did it happen in the united states? >> you have seen it in corporate levels. jonathan: it was such a nice story until the you think about that. >> they have done really well until the year two ago. david: what about this shift of leverage from private to corporate and to the fed balance sheet? >> central banks have taken on a lot of that leverage. david: we have not do leveraged that part. >> that is correct. in terms of who can manage deleveraging better, it is easier for the federal reserve to manage that easier than consumers. jonathan: i'm pretty sure they own 30% of rbf. this is good of all from a consumer standpoint, but no

ray dalio himself.spend some time with him last week at the delivering alpha conference, but we're thrilled to have you on the day that this book comes out. i talked about this last week, but not only did i actually -- i enjoyed the book, but i got a lot of out of it on a personal and selfish level. we'll talk about it. we're going to talk about the markets, but i want to ask you this it's sort of about what you said when you sat down during the commercial break, which is you have in some ways tried to avoid -- not avoid the media because you have come on our show and others before this, but you have not been someone who has loved the media over the years, and so what has it been like, and why did you decide to even do this >> well, i think you remember when i got involved with the media i was below the radar, and then we anticipated the financial crisis of 2008 we got a lot of attention. we have an unusual way of operating, and so i put those principles out on the website, and they were downloaded thre

angie: ray dalio spoke about social stability.nd center. what the chinese regulators wanted putting on those curbs, fearing a property double bursting, so that is reinforcing their social stability mantra. china home prices rose in the fewest cities since january. we talk about central banks and the rest with our guests. most important central meeting this week is the fed. announcedhey normalizing its $4.5 trillion balance sheet? we take a look at that. also, the cash flooding into the indian market that has a lot of people worried about elevated asset prices. we will take you live to mumbai. all that and more in the next hour of bloomberg markets: asia. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. angie: it is almost

and it would also represent a challenge in putting together administration >> reporter: now, dalio saidthings like the wealth gap and social conflicts as well as burdens in the form of debts and pensions, kelly. >> yeah, well, the -- i mean, we don't even have time to start talking about pensions, but i'm glad he mentioned it there was a lot of good stuff to come of that that will be one for future conferences. leslie, thank you very much. >> reporter: thanks, kelly. >> leslie picker. >>> royal caribbean is relaunching boats from miami and ft. lauderdale today after hurricane irma ravaged those cities ceo richard fain will join me with the company's plans to get back in the water and its relief fos ghafr is ing right now? we're facing 20 billion security events every day. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats. you did that? we did that. really. we analyzed millions of articles and reports. we can identify threats 50% faster. you can do that? we can do that. then do that. can we do that? we can do that. can we do that? what's cr

dalio ready to share his hedge fund secrets with the world. artifacts --ves at equifax could find themselves on the wrong side of the law. the justice department has launched a criminal probe into their stock sales before the massive data breach. the market is closing at about two hours time. that is get a check on where stocks are trading with julie hyman. julie: the major averages are holding pretty steady. relatively modest gains. holding 2500.dex some strategists are still dubious we can add the here at -- end the year at these levels. dow is on a winning streak. seven straight sessions gaining. rowfourth and a row -- in a it has been at the record. in terms of the best-performing ,tocks on end index point basis you have industrials like boeing.lar and goldman sachs represents the financials. you have stocks like jpmorgan in the s&p higher. bouncing back along with bitcoin. havens,ook at the places people tend to go when they're feeling risk adverse, the yen is falling versus the dollar. gold prices are down. vix is down as well. dalio, th

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coming up, a conversation with ray dalio.iples that have governed his career as one of the world's for most investors. you will not want to miss this. this is bloomberg. ♪ ♪ vonnie: live from bloomberg world headquarters in new york and london, i am vonnie quinn. mark: and i am mark barton. this is "bloomberg markets." let's check in on the first word news. president trump calling for reform at the united nations. he spoke before the general assembly today. pres. trump: in recent years, the united states -- the united nations has not reached its full potential while it has increased its budget by 140% and its staff has doubled since 2000. we are not seeing results in line with this investment. will president trump speak before the general assembly tomorrow. we are tracking hurricane maria which is listening islands already battered by hurricane irma. is heading towards islands already battered by hurricane irma. has upgraded its outlook. it says the british economy will grow 1.4% in 2018. 1.6% this year. he says that manufact

in dalio expands on those "principles: life and work." i am pleased to have you with us.me the motivating reason to put this together. why did you want to write this? met --elp others, to make them be more successful. i was originally reluctant to share these supposed. -- principles. charlie: you thought they lead to enormous achievement in the investment world, and therefore you didn't want competition? >> i don't like public attention. i would rather have private. of attention lot during the financial crisis. because we operated with different principles and had a unique culture, it became distorted. i put those principles we had at out on our website. they were downloaded 3.5 million times. i received a lot of thank you notes, because it helped people a lot. i accumulated more. now i'm at a stage in my life where i'm transitioning from what i call the second stage in my life, to the third stage. i think is when one is dependent on others and learns. second stage is when we are working and others are dependent on us. third stage is when they all do well without me and a

bartiromo, mornings with maria by the way her guest includes founder of the world's largest hedge fun ray dalio. great interview. maria: we are looking forward to that special interview. thank you, cheryl. happy friday to you, friday september 22nd, top stories right now 6:00 a.m. on the east coast. a dire warning from north korea now. kim jong un delivering a fiery statement calling president trump deranged, promising the united states will pay dearly after the commander in chief's issued a new executive order that targets anyone who trades with the hermit kingdom. >> a new executive order i just signed that significantly expands our authorities to target individuals, companies, financial institutions that finance and facilitate trade with north korea. north korea's nuclear weapons and missile development is a grave threat to peace and security in our world and it is unacceptable that others financially support this criminal rogue regime. maria: very latest this morning as reports suggest that north korea may test a hydrogen bomb in the pacific ocean to prove its power. that's coming up. the n

. >>> also speaking at delivering alpha, bridgewater boss ray dalio said delays to trump's reform agenda dampened the growth outlook >> we're probably in a 2.5% type of growth environment. the real question is to some extent whether you can unleash the productivity by some of the changes that a pro business environment can produce. i think there was more hope for that, for a pop in that productivity, structural changes. but i think now the problems of the conflicts have slowed all that down. so we're looking at something like 2.5% or 3% environment. but we have gotten past the worst of the whole deleveraging. >>> let's bring in mike bell, global market strategist now from jpmorgan asset management lovely to see you. first off, let's start with the u.s. context the treasury secretary's comments about tax reform seem to give the green light to the market but it means valuations are even more stretched now how do we approach u.s. equities >> i think the key thing, if you look at expectations for tax cuts, they're not in analysts estimates. there's been an assumption because 12-month forward

bridgwater associates ray dalio speaking to erik schatzker. more to come.in singapore. half an hour from the open of trading in the lion city. you are watching daybreak: asia. let's get to first word news with paul allen. north korea has shown pictures of its latest missile test, vowing to achieve its nuclear aims despite sanctions. state media says kim jong on claims the plan is near completion and will create what it said will be an equilibrium of real force between the u.s. and south korea. president trump will meet world leaders this week, setting all options are on the table. the new zealand dollar is a barometer of what markets feel about next weekend's election. it has fallen when opinion polls show the opposition ahead and risen when the surveys put the government in the league. an average of polls puts the ruling national party and labor level. both are likely to need the support of smaller parties to form a government. says its chief information officer and security officer left falling the breach of 140 3 million customers personal information. t

very much for joining us >>> we have a big newsmaker coming up later this morning bridgewater's ray dalio sitting down with the "squawk box" team. catch that interview at 8:00 a.m. eastern on cnbc >>> turning to today's wall street agenda it's all about the fed. maek makers will kick off o day meeting this morning look for august housing starts and building permits at 8:30 a.m. eastern, along with import prices and current account figures. auto zone reports before the opening bell adobe, fedex and bed bath & beyond are out after the close >>> in corporate news, equifax revealing it was hit with a second cybersecurity attack. landon dowdy has details of that >> that's right a one-two punch for ecb. the credit reporting agency acknowledging it faced a second security incident earlier this year this is splis separate froe breach announced last week which exposed the personal information of 143 million consumers equifax is denying that. in a statement the company says the two incidents are not related and that it has complied fully with all consumer notification requirements relate to the mar

perhaps, he was speaking, ray dalio to the president as warning.ndicating of what he's thinking >> next up, jaime diamond. >> we'll be doing this in about 40 minutes >> all right, cool we'll catch some of that later >> lets go to brian who's live at the apple event >> reporter: michelle, i have a question for you how many of these cables do you have 19 bucks or 29 bucks of these cables, dominating everybody's lives, well, apple wants to end them they said moments ago that the future is wire lsz aless and thw iphone is going to have wireless charging you set it down and it will charge some other phones already have the features i wonder of accessory makers, we are getting details on iphone 8. as expected, this phone is going to be big, you can get it in 256 gigabytes and you are waiting on this rumor there we go, we got the most important part, pricing. $699 for the iphone 8, that's where it starts. they're rolling out the iphone 8 plus, the bigger version, that starts at $799 the 8 plus is $799 and this is important, it will be available september

dalio and mr. andrew ross sor kin at delivering alpha.com. we'll be right back.lly, really want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies see it- and see it through-with digital. >>> plus, chances just jumped the fed will make a move steve leishman has new reporting investors will want to hear on that, plus one analyst just became wall street's biggest bull t it is our call of the day. half-time reports starts top of the hour see you in about 15. >> looking forward to that, scott, thanks. >>> and it's been a rough start for the nfl. overall week one ratings fell 13% from a year ago, but cbs's les moonves saying the nfl is still the best property on tv. >> i'm really not concerned. if you looked at the sunday night game, that was up. sunday afternoon was down a bit, but we were in the middle of the biggest hurricane in decades, so when you see, you know, millions and milli

scarlet: dalio said he would donate all the proceeds from his book.ins us here in studio. he is the author of a new book, the new economics of zero poverty. thank you for joining us today. muhammad: thank you. scarlet: we talk about reforming capitalism as to replacing capitalism. explain what that is and how it enterprise where profit is not the only goal? the presence capitalist system, the machine that supports money all the way few people are owning more and more wealth. eight people in the whole world owning more wealth than the rest. we need to do something about it. slow-motionst a presentation, it is fast moving. unless we do that, it will be a ticking time bomb, creating social and political unrest and lots of social upheavals. it is one way of saying that maybe we should change the whole idea, the basic premise of the system, that all human beings are driven by self-interest. that gives the wrong impression. human beings are not about selfishness. they are also about selflessness. as we build on a selfishness basis, we have a need to solve p

betty: we will hear from ray dalio. >> hello from

. >> reporter: as for economic growth, ray dalio, who runs bridgewater, the largest hedge fund in the country, says i think so we're in a kind of 2.5% zone for growth. here's why. >> we're probably in a 2.5% growth environment. the real question is to some extent whether you can unleash the productivity by some of the changes that a pro-business environment can produce. i think there was more hope for that. >> reporter: and speaking of growth, jamie dimon of jpmorgan chase says that 2.5% growth, he doesn't view that as a new normal. here's why. >> if we did things right, we would be growing at 3%. but this growth that away had over the last eight years has averaged a little less than 2%. it's half of the normal, okay? a little long recovery. but it's half of what we would have had in a normal recovery. >> reporter: all in all, sue, a big day of big thought and big insights from the delivering alpha conference here in new york city. it was a day where we heard from the treasury secretary and some of the really top people in the world of hedge funds, private equity, and institutional in

we have another big interview coming up this weekend, the conversation with ray dalio, the billionaireairman of bridgewater associates. that is on sunday. speaking of guests, coming up, our next guest says there are great opportunities when it comes to the credit space, but smart investors need to look beyond relative value. there we go. that is your next guest. that's after the break. this is bloomberg. ♪ david: this is "bloomberg markets: asia." let's get you caught up on the business flash headlines. fortescue metals says the ceo will stand down. is consistentn with its long-term succession plans. shares down more than 2%. the climbed more than 6% since he took the ceo job in july 2011. an investor group led by chemchina is now looking to raise $3.9 billion from a sale of up to 40%. shares of the obtained company will be sold between $7.50 and $10. it was delisted after being on the italian stock exchange for 90 years. considering the sale of a auto-parts business with the price tag of $1.5 billion. sources have told us that he is working as an advisor on that sale. the company make

president's relationship with him there's a view within the marketplace and we're going to talk to ray daliond others all about this that gary cohn and you represent a very important piece of this administration and that if perhaps gary cohn were to leave, that the markets would take that as a bad sign. >> well, let me say, gary and i have worked very close together for a long period of time. we worked together at goldman sachs, we were in the same partner class at goldman sachs we're working very closely together on taxes. i was with him yesterday on the hill we'll be back on the hill this afternoon. we'll both be at the white house for a dinner with the president tonight on tax reform. and let me just say, i appreciate working with him. >> you mentioned the taxes, you're helping us to get into all of the different areas we want to go the kumbaya moment, i don't know, that's one of your words that you use a lot >> yes >> senator schumer, speaker pelosi, does that -- that the president had recently, did that change the dynamics in your view of how to approach tax reform? >> not at all. so i

coming up on bloomberg markets, on sunday, ray dalio, the founder of bridgewater associates, one of theedge funds, he shares rare insights behind the principles that have governed his four decade career as one of the world's foremost investors. 5:00 p.m. eastern on sunday and 10:00 p.m. in london. vonnie: i will be tuning in. brokerage assembling to prepare for the new european union rules that take effect january, a special take on this -- mifid 2. ♪ ♪ vonnie: that is london, it does not look like winter yet, you are looking for to much of a. i am -- too much sympathy, i am vonnie quinn. mark: the new european rules known as mifid ii take effect in january and why banks and brokers have to hurry to comply. stocks and bonds have bounceback since the 2008 financial crisis. the public trust however has not recovered. not with high-speed trading, next lane volatility, and banking scandals creating the sense that financial markets are unfair. many politicians and regular sea level in the playing field as unfinished, close crisis cleanup . a vast set of new european union rules known as mifi

ray dalio saying we should be part -- putting more money in holdings, we have a np saying 30% shouldin cash. is that something you subscribe to? >> i believe that if you really you should board -- try to invest. if they know pay is certain, they will try to avoid it, and walk backwards a few steps to try to reach equilibrium strategies. i think that the market is trying to get used to this kind of political noise. until the markets desensitize itself from north korean threats, then investors will come back into the markets. hsii: when it comes to the are even mainland chinese stocks, some reform sensitive stocks, what is the strategy going into the party congress? >> i think that the 19th party keeps chinese leaders and incentives to foster a and incentives for hong kong and china. think up to the 19th party congress, the markets should be environmentrom the that the chinese leader wants to foster. your main fear is not about north korea. you are suggesting that russiagate, or the relationship between donald in moscow, is the biggest key here. explain. russiagate, i think after thein

bartiromo, mornings with maria by the way her guest includes founder of the world's largest hedge fun ray dalioew. maria: we are looking forward to that special interview. thank you, cheryl. happy friday to you, friday september 22nd, top stories right now 6:00 a.m. on the east coast. a dire warning from north korea now. kim jong un delivering a fiery statement calling president trump deranged, promising the united states will pay dearly after the commander in chief's issued a new executive order that targets anyone who trades with the hermit kingdom. >> a new executive order i just signed that significantly expands our authorities to target individuals, companies, financial institutions that finance and facilitate trade

that's the fear now for ray dalio speaking this morning on "squawk box. we might have a 1937 redux if the fed moves too fast in terms of reducing its balance sheet and raising rates. i'm not schur about the r word but possibly if the fed moves too fast and the economy is not ready for this change in policy the fed will launch tomorrow but i think the fed's going to go slow enough such that if it is making a mistake it will have an opportunity to pull back. >> all right, steve, thank you >> pleasure. >> steve liesman the hurricanes may not be having a negative impact on the overall economy. harvey has left houston in a bad spot, particularly when it comes to rebuilding the tens of thousands of homes that were destroyed. diana olick is live in houston with that story. hi, diana. >> reporter: hi. and you know, when you drive through downtown houston and the main thoroughfares, you almost wouldn't know there was a hurricane here and then you turn down the side streets and house after house after house is literally inside out. the insides torn out and put back

coming up, hedge fund billionaire, the legendary ray dalio, my special guest this weekend.e a look at some of the big headlines this past week impacting everything from wall street to main street. the federal reserve did not raise short-term interest rates, but fed chair janet yellen said there is still a possibility for a rate hike by year end, that would be december. yellen also said as many as three rate hikes could come next year as well, and they have begun to reduce the size of their balance sheet.

talking about getting to 3% growth on a weekend when ray dalio is writing an article, talking about half0% of jobs could be replaced by ai technology is having such a deflating impact on the economy. it is. i don't think we understand it getting to 3%, you first have to go to northern california and identify what they're doing to disrupt all these industries before you think about getting to 3%. >> huge point. go ahead. >> what it's doing, it's allowing us to grow without the inflation impulse. >> there's no pricing power. >> that's just the beauty of it, though right? you can grow without inflation slower growth, supported policy, healthy profits. >> rob, rob, rob, from a macro perspective, let's say the economists are wrong and the president's people are right animal spirits kick in, we hit 3.5% do you automatically buy stocks? >> where you buy stocks is what happens in the profits of those stocks we think we can add $5 to s&p next year -- >> how much does it contribute to gdp growth? >> it's very simple. corporate profits roadway share of the pie you get more or less of the pie. if th

dalio. that starts at 8:00 a.m.t trump takes to twitter to take on espn on the heels of one of the network's anchors tweeting negative opinions about him when we come back, we'll discuss if espn's tilt toward politics is hurting its sports business being the incredibly busy man that i am, i've asked chase sapphire reserve cardmembers to scout the world to find my next vacation. elton, what are you up to? i'm having breakfast in uganda. uganda be kidding me, elton! it's a... it's a joke. james, we're going to look for gorillas! hang on, what? that's a real silverback gorilla. look at it! no, don't look at it. shhhhh stay. okay. i'm freaking out! sapphire reserve, from chase. make more of what's yours. (upbeat dance music) (bell ringing) >>> welcome back we are on the half hour. time for a cnbc news update with sue herera hey, sue. >> hello, guys, here's what's happening at this hour, everyone the terror level has been increased to critical following the london subway terror attack during this morning's rush hour comm

. ♪ ♪ charlie: ray dalio is here, the founder and cochairman of bridgewater associates.eated the firm in 1975. today, it is the largest hedge fund in the world with assets of around $160 billion under management. "fortune" has called bridgewater the fifth most important private company in the u.s. the firm's success is anchored in its unconventional culture that emphasizes values like radical transparency and truth. he expands on those ideas and more. i am pleased to have him back at this table. welcome. tell me the motivating reason to put this together for you. why did you want to write this? >> to help others make decisions better and be more successful. i was originally very reluctant to share some of these principles. they were internal. charlie: because you thought they led you to enormous achievement in the investment world, and perhaps personally as well, and therefore you did not want your competition -- >> i don't like public attention. i would rather have privacy. but when we made -- when we were successful anticipating the financial crisis, we received a lot

we have a huge lineup, ray dalio is going to be here, steve schwartzman, jamie dimon let me take youhind the scenes because the big event is about to start and steve mnuchin, the treasury secretary, is just back here there's his brother, by the way. and the whole crowd, everybody getting ready for the event. we have it coming up in just a couple of minutes. i want you to stick around, security is here secret service "squawk bo rur wx"etnsith all of this in just a couple of minutes. my dell small business advisor has gotten to know our business so well that is feels like he's a part of our team. with one phone call, he sets me up with tailored products and services. and when my advisor is focused on my tech, i can focus on my small business. ♪ a dell advisor can help you choose the right products with powerful intel® core™ processors. ♪ >>> welcome back to "squawk box. we're live at the delivering alpha conference treasury secretary steven mnuchin is about to take the stage. he'll be with joe, becky, and andrew and while they get set up, that's the reason you're looking at me and the

ray dalio's called it a bubble. and some say it is not real. mike novogratz disagrees.ryptocurrency hedge fund, with a comeback to professional money management. he sat down with erik schatzker to explain why bitcoin is appealing to macro traders. ♪ mike: in a lot of ways, this is a market like any other market. and you can, you see the psychology of fear and greed and, and the same way that you would see them in the charts of the indonesian the pair, dollar-yen or treasuries. they are exaggerated because of less liquidity. there is not a good way to short. so, when they fall, jamie dimon makes a comment or china bans the exchanges, the trendline breaks, and they fall a lot harder than they would have another markets because there is not a short base to cover. so you reach a new level of support and you rebuild your base. erik: how do you know when the o buy and sell? how do you trade this thing? mike: there are multiple ways to trade. it is just macro, so you change -- trade the prices. i always tell people, i need a story and a chart. there is a lot of information, so

alpha a week away from today a big lineup of newsmakers including steve mnuchin, jamie dimon, ray dalio and many more big names. it's happening september 12th. for more details go to deliveringi deliveri delivering alpha.com [car tires screech] [bell rings] ♪ ♪ integrate any part of your business, and have your systems work as one. the ibm cloud. the cloud for enterprise. yours. and i'm the founder of ugmonk. before shipstation it was crazy. it's great when you see a hundred orders come in, a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. >>> treasury secretary steven mnuchin warning if the united nations doesn't put additional sanctions on north korea over nuclear tests, the u.s. could act on its own mnuchin says presid