global labor and what global labor can earn -- tom: george, your world of low interest rates -- dan alpertrts of the flowsast year on capital -- do you just presume a lower interest rate for generations? george: i think dan is right that we have been in this deflationary backdrop over the last 10 years. today is groundhog day, right? there are 10 years of no have seenn the -- we the developed world that dan is mentioning competing with emerging markets. i think emerging markets are now converging on developed markets, and no growth engines will push up deflation. that has banks running scared. dan, when you are talking about the u.s. competing with emerging markets, when you are talking about eating the lunch, china is way ahead but they have huge problems. on a nominal basis, the u.s. is in a much better place. but that presumes that everyone cooperates in that effort. as soon as you start seeing places like japan deciding to trim their interest rates and thereby drop their currency, you can see china doing the same thing. wait until the shows up -- we until draghi shows up -- wait until

richard: dan alpert' s and crew, the firefighter challenge getting started at 12:00. you guys are the champions of this thing. any tips for an old guy like me? >> keep pumping those arms and kicking those legs. richard: pumping those arms and kicking those legs. i can do that. jonathan: i that you can, richard. thanks. check out the latest car models downtime. -- downtown. the cincinnati auto expo has taken over the duke energy center. 35 manufacturers have rolled in 400 different vehicles. the expo opened earlier this week, with an event benefitting children' s hospital. we were live there yesterday morning. the companies have options for the bargain hunter to the luxury dreamer. look at the corvette. you can check out the wheels today from 11 -- 11:00 until 5:00. a suspect is now in custody, after a series of random shootings. the fatalities and what authorities know about the suspect. and, cyclone winston ripped through fiji on saturday. destroying hundreds of homes and claiming three lives so far, the latest on the damage and the search for more victims. going out

tom: this is something we have been talking about with dan alpert -- francine: if you take a step backit is all about communication. with china still so nontransparent, we need to make sure that guys like you believe what the pboc says and you have a better understanding of their endgame. >> there is a whole bunch of data that looks like it is more dependable -- you cannot get fried shipments around the company which have been falling for six years and negative for the last four. electricity has been falling. if you were to go on the back of euro an envelope and choose how you would calculate the gdp on those data, it would be something way, way below what the number is, and more importantly it means that for those in the business of manufacturing infrastructure, whether it is mining or factory equipment, you are seeing weakness that makes sense. francine: thank you so much. coming up, i will speak with mark mobius. it will be great to get his insight into the what the g-20 did or didn't do. that is at 1:00 p.m. in london ♪ francine: morning must-read have a different angle -- this is