tom: the classic david goldman.roes of a deflationary spiral and they must depreciate the yuan. they have not. it is the one surprise that will changes for 2016. beijing, all of asia and all of america will do a collective blank. what be the catalyst to get beijing to act? >> the catalyst is their industrial sector is hurting because their exports are doing terribly. there is a nearly perfect relationship between chinese currency appreciation and declining export growth. your strong services, strong consumption but very weak manufacturing and that is something they cannot live with forever and eventually reality will catch up and they will have to do what various other people have told him for a long time which is they will d-link from the dollar paid. olivia: then you and know it's that these points are holding up despite this. >> this is good news that china is strong enough that despite an erroneous monetary policy the economy is still struggling -- chugging along. this is one of the reasons i'm still a china bow

a special guest this morning, david goldman will join us. for years at bank of america.s adamant, manus that this is just as much about weakness that has to come. it is not just a dollar story. manus: of course the i.m.f. will have something to say about that and whether it gets into that special -- have a great show. sounds like it is action f-packed. tom keene with "surveillance." manus: let's get more on shire's $30 million bid. first of all, talk to us a little bit about what baxalta is. they make drugs that they can charge a people are mum for. >> shire brings a much bigger scale. not just from the perspective of cost selling but better selling. they get better pen operation and more countries they can work in and of course cost savings. baxalta has just become public although it has been around for many years. it does fit. anus: you got -- $45.23. are they going to have to pay more? >> they have to. apparently, baxalta management will not engage. apparently they had tried to engage with baxter before although they didn't quite say that but i read it in news article

china cutting interest rates for a fifth time, we want to go to hong kong now to get reaction from david goldmannt group. david, give us your initial thoughts on these moves and the comments as well, commentary. china urgently needs an easing of monetary policy. it has the highest real rates in the world for the past year. demands, it has also pushed up the currency and her their exports, so of course the economy is slowing because of monetary policy errors. a rate cut is a good thing. the trouble with the pboc is that what it has done is been piecemeal and has failed to explain to the markets what its intentions are, so i think the effectiveness rate cuts, as positive as it is, is not nearly enough. the pboc has to do more, it has to explain itself to the markets. brendan: help us understand this in u.s. terms. one of the innovations of ben bernanke's and janet yellen said is increase communication of your what kind of things do the pboc need to do to make these rate cuts have some kind of meaning? what do they need to engage in? david: first of all, has to say they cannot keep the rmb tied to

david goldman is the point person for fsis on foodborne outbreaks. >> the interviews of the patientsold us repeatedly, it's foster farms predominantly. not in every case, but most of them mentioned foster farms. i think about 80% said that. >> narrator: what was confounding was that foster farms had been meeting the salmonella standards in four plants that were suspected of causing the outbreak. >> i think foster farms had passed all of their sets in terms of the performance standards we had for whole chickens. >> so in plain language, foster farms had... >> had been performing according to our expectations. >> narrator: the agency's own internal data show that government inspectors failed to find any sign of salmonella inside these four foster farms production plants between 2010 and early 2013. more than 500 samples had been taken. not one was positive for salmonella, and yet people were still being sickened. >> at the time, outbreaks are happening. there was an outbreak in 2012 in oregon and washington. a big outbreak starts in 2013. >> right. >> do you think that there was really

within the moving parts of david goldman's analysis is people get overcome by events. events?>> i said before they are a drift. goldmanagree with mr. pre-much on anything he said. i would say, let's point out that china's credit growth has been 15.5% and automobile sales down 10%. when is this discussion shifting toward services and i don't really believe it. china is innate long-term slowdown that reflects long-term problems. that in the classic textbook how do they let the steam out of the pressure cooker. that so in theo trilevel world china's solution has been to limit capital flows. the problem is things have changed usually. here is the big change. capital doesn't want to go into china as much. there are long-term risks. vonnie: but that is a temporary fix. once we figure out where it is going and how to stabilize capitals will return. >> i don't think so. i have been a china pessimist for seven years so i will crow. china has deep troubles. vonnie: but the consumer has been nonexistent. >> for good reason. tom: we will come back. on bloombergview television, with all du

brendan: i have to say i was surprised to hear that, too, david goldman -- tom: but others as well.: the funny thing about brazil is that they weathered the financial crisis very well. they learn from their own debt crisis. i read an interview with moreyes, and they did remarkably well during the crisis. it turns out the problem with not that potential for instability within the financial sector, and with the fact that as an economy, just in and out on the government's account, they were over levered because they depended too much -- tom: what do u.s. investors do when the price of the brazilian paper starts to go down? they have got to get out, right? you pick up the phone and call whoever and say "sell it." michael: you are seeing that in the reality as it continues to deteriorate. part ofe non-commodity the brazilian economy was the stronger part of the last few right and i think, tom is -- structurally long-term rate. brendan: will we see of her structuring of brazil's debt in the next five years? michael: you have to look at -- there is a lot happening within the political stru

like you said goldman sachs strategist david constin points out similarities between this sell-off and the one during the emerging markets crisis in 1998 suggesting a possible rebound in the offing. he predicts the s&p 500's going to rise by 11% from current levels to reach the 2100 mark by this year's end. he also says for now the best strategy is to buy the oversold stocks of companies that get most of their revenues from the u.s. so our colleagues over at cnbc pro took a look at goldman's list of 25 oversold stocks with high u.s. exposure. some of those names projected to rise at least 50% in the next 12 months. names in the energy sector you were mentioning one before that but here's cabot oil. pioneer resources and marathon petroleum. then there's the bank stocks, e-trade, discover, both expected to rise by north of 30%. those are just a fuft names here. for the full list subscribers can go to cnbc.com/pro. that full story with that entire group of stocks up right now online. >> must click. >> you might want to click there because that list is no touches. pioneer. these are names

they're ready david costin's note in goldman sachs, writing that china economic growth was the immediateist for the selloff, the correction that we saw. they expect that the u.s. economy will avoid contagion and continue to expand. he's calling for a 11% gain in the s&p 500 by year end, he's looking at 2100 for the s&p. so that note is circulating around. and other thing i wanted to say, charlie gasparino will be our #oneluckyguy on the fox news channel. >> with all the ladies and lunch. >> you in a onesie with some feet, that's my favorite. sandra: alpaca socks. >> you guys are weird. [laughter] i thought i was crazy. dagen: i can't believe i made you wince. >> and i'm having a fantasy of donald trump in a onesie? >> no, that's not happening. dagen, i'll point out and mike murphy, that dow futures are up 515 points now. we're off the highs of the morning. it's interesting, a half hour to go until the open and as charlie points out the close is obviously the end all-be all. >> if you look overnight. down 7% in china and we're looking at a plus 3% or better open in the market. the close w

i want to see end of month rebalancing that goldman talked about with pension funds, see where the market shakes out after that. >> david>> carl icahn, activist. i think you should take a look at twitter. this is a name we talked about a lot. i'm a buyer of twitter here because i think somebody like an activist needs to come in and shake this company down. it's ridiculous if they have the ex-ceo or the founder come in and run this company. >> brian kelly. >> we're still in a macro driven market. you've got to watch the currency markets. in particular the euro. we have an ecb meeting next week. might be a quiet week for some but there's there's a lot of news coming out. >> guy. >> great job navthing this week. not easy to do. hyg comes out. you said it before. that's the tell. i'm watching that. >> that does it for us. catch more "fast money" monday at 5:00 eastern time. "options action" begins right after this break. stay tuned. ♪ ♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop and durable new stellar notebooks, so you're

. >> good evening commissioners i'm david golden o goldman a logical residents and homeowner and vicedent of the cannabis democrat club i served on the medical cannabis task force i'm here in support of the onsite consumption space for the barbary coast they're an exempt dispensary offering high quality medication and continuing new product deems alerting the patients to the new patients important for us to rehabilitate those developments in the city there are currently only 8 places brown where medical cannabis patients can legally con assume their medication two are currently under rae modeling many places in the public where medical cannabis patients can't medicate near schools and restaurants and bars and many patients live in federally subsidize housing they can't use their medical cannabis it is a schedule one drug illegal in the federal government please approve that as a to add for them to approve their services thank you. >> >> next speaker. >> and good evening. i'm paulal long time residents of san francisco i want to echo what the previous speaker just said about the social

david. >> i feel bad because i miss all of the excitement last week. now is my chance. at 26. goldmane out today with a note that says they think .t has overshot the market of nonfundamental traders using systemic strategies like smart data, market strategies, and they have to hedge volatilities. david: in the financial field, you have to care about it a lot the matter which side you are on. your clients are retirees. are you telling them just to ignore the short-term volatility? not at all. i'm telling people it seems obvious to me that although we are in correction territory right now, we are not in their territory but it seems inevitable that we will be there. i have got a lot of people sitting on the sidelines. blamed the of people 1987 crash on portfolio insurance. thing.ow not the same other people have drawn a parallel between portfolio insurance and some of the strategies tracy was mentioning, these risk management, volatility management strategies like some of what the cpa's are doing. how much of what we saw last week is an outgrowth of that as investors and traders making d

i want to simplify the framework but overall goldman sachs says even if it happens it will not change monetary conditions. caroline: before we get's davidiew, elliott to us a quick view on the political because this is the perfect storm at the moment. they also have a breakdown in coalition talks. >> it is politics probably rather than economics which is informing the views of many economists that we talked yesterday about the collapse in talks to the main opposition and there was a slim talk that the ruling party might get it together but those talks have now reached a dead end and it looks like we will get fresh elections the current round ends august 23 and than you have new elections within three months of that i suppose that political uncertainty is another thing weighing on the minds of investors. , what we have learned the last few days or less few weeks is that the slowdown is maybe more aggressively than we have thought. how problematic is that for this recovery that we think we are seeing in north america and parts of europe and on which quite a large pickup is based? sure that the lack of energy is too much of an issue especi