at the sentencing, life in prison, david jackson's family confronted michael wolfe. ndemn him, but to ask a question because there was still a piece missing. something that still didn't make sense. what was david doing in that motel room the night they killed him? why did he walk into that trap? >> why would he go to a motel to meet mr. britton when mr. britton was ten minutes down the road? i mean, david is not a stupid child at 24. why would mr. britton want to see him in a motel? >> tell them what you know, they demanded. there would be no justice, they told wolfe, unless everyone involved was held accountable. outside the courtroom, david's brother encountered the state's attorney and said -- >> he's going to tell you, and he said, he's not going to tell me anything. i saw it in his eyes, he'll tell you. and then we got the real story. >> in fact, it was just two days later when wolfe finally confessed the true measure of his guilt and gave police firsthand his unedited version of events the night he said they buried david jackson in the shifting florida clay. was

news,en hays, bloomberg jackson hole, wyoming. davidhere's the state of play and condition of the world, if you will. the world map you see and read, that basically means markets expect rates to fall in those places. pretty measure across the board with the exception of iceland and a couple markets in latin america. story,et more on the vanguard has more than five between dollars in assets under management globally. very nice to see you, good morning from hong kong. we're just talking about the fed there. let's start with that. month's points for next -- seems to be baked in. what comes after that is the specific question. >> that is our baseline, but i think the problem is that if that is to influence expectations, they better do something that is unexpected. if they come up with a 25 basis out withhey could come the dovish statement saying we will do whatever it takes to avoid a recession, or it could come up with a 50 basis point is not then say the risk balanced enough. i think what's going to happen after september, it really depen

david: the jackson hole tone, looking back at midcycle cuts, they did three cats. number one -- three cuts. that is the number one factor. we also see weakness in investment, spending, and powell will look at uncertainty around the world, pointing to more cuts. the reason why we don't have more cuts in 2020, to some extent because we don't expect the u.s. to go into recession, and secondarily,, monetary policy can't do everything. especially in a economy with two sides of the coin, where the consumer is doing well and the rest of the economy poorly. . monetary policy can't address that with one single measure. matt: you will stick with us. more to talk about with you. sels, of hsbc. up next, boris johnson says he's marginally more optimistic about a brexit agreement after bonding with world leaders at g7, but are investors convinced a no deal departure can be avoided? hole in they see a rock when he slam out to the atlantic ocean? this and so much more. this is bloomberg. ♪ anna: welcome back to the european open, 22 minutes into tuesday's trading day. the first tr

jackson hole. the question is how you hedge this. david: time now for the morning brief. at 10:00 this morning, we get u.s. existing home sales for july. at noon, german chancellor angela merkel meets u.k. prime minister boris johnson in berlin. reserve minutes from the july meeting. alix: now we are joined by gina martin adams and luke kawa. let's get the headline of the morning, and that was that german bond sale. 30 year was -11 basis points, but what struck me is it wasn't as strong a demand as and was necessarily expected. luke: i have to shrug off any fromof low demand treasuries, or whether it is across the pond. it hasn't been reflective of the general environment, where there seems to be a huge appetite for fixed income and any yields, including negative yields. perhaps this is the bell rung near the top, but people find a reason to buy fixed income whenever risk aversion strikes. david: what is the relationship with the equity markets this morning? gina: the story for equity markets is at least the rally in bonds appears to have stabilized. there is a lot of fea

david ho and jackson chang, who unfortunately is stuck in traffic somewhere between here and the east bay. this is kind of a successful story. i've represented jackson for approximately 20 years. he was, along with j. chang and john park, the most successful proximitier into an asian-american clientele. the clientele here remains predominantly asian-american college students and young professionals. mr. chang has thrown large events and a lot of 18-and-over events at many different establishment establishments. mr. chang is here. no longer stuck in traffic. the -- they've moved into l.a. and mr. chang has been doing a lot of parties down in los angeles. i was lucky to be at the opening of arena k town, korea town, in los angeles in the spring of 2018. that particular venue took off like a rocket ship and is extremely successful and very non-problematic. jackson bought the shares -- or entered into an agreement to start promoting parties at the mission sports bar, and eventually we are now at the a.b.c. with a stock transfer application. but the biggest problem we've had with this part

the minutes and probably even more so from the commentary of jay powell later this week in jackson hole. david: we will all be watching. breaking news out of ryanair. there labor troubles continue. they have lost their court bid to block a u.k. pilot strike. one of the judges refused to grant an injunction. shares of the irish discount carrier have to climb substantially in the past year. we will keep you updated as things develop. coming up, u.s. china trade issue just got more developed -- more complicated. now it is hong kong. that is coming up next. this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. return to mark crumpton for bloomberg first word news. mark: president trump is criticizing what he calls politically correct automakers. the car companies have pushed back on his administration's plan to weaken fuel efficiency requirements. in a president said his proposal would lower the average price of a car by more than $3000. he said it would also make cars safer. the department of homeland security wants to end a long-standing federal court agreement that lim

david: investors await jackson hole as president trump heats up pressure on the said, repeating his callast. tom: and hong kong enters what is being called a golden window for reconciliation as the government's apparent olive branch is rebuffed. carrie

david: alessio de longis, we will come back to you in just a moment. ahead of this year's jacksone, we are going to bring you met exclusive interview with the boston fed president. that's coming up at 1:30 this afternoon eastern time. coming up, europe's largest economy prepares stimulus measures as contingency for a crisis. we are going to talk about that next. this is bloomberg. ♪ ♪ david: economists may debate whether the u.s. economy is headed for trouble, but there's no debate about the weakness of germany, with reports just this morning it is preparing new fiscal stimulus are getting job creation. german finance minister roll up shulztz -- minister olaf suggested how big it might be. still with us, alessio de longis of invesco. we've been talking about fiscal stimulus from germany for some time. is 50 billion euros enough given the size of the economy? itself, itr germany might be enough. despite the savings glut, the german economy has been doing very well, and the unemployment rate is extremely low. this is that economy that is fine. it does not have some of the structural

jackson holcombing up. do we need anything? adam: that's the right question, david.is when we need something it's going to require both fiscal and monetary. but do we need something in the u.s.? probably not. the arguments that erik has been making if you do monetary policy now you might just increase the amount of indebtedness when the crisis comes. it's largely a timing issue. i think the federal reserve is not behind the curve as president trump says. it is, instead, the federal reserve has to wait and see. and finally, if the president and the congress leapfrog the fed into further fiscal expansion, then there is even less reason for the fed to act. alix: adam, how do you seal it going forward when we do need it? a paper i was reading last week talked about basically monetary theory. where you have to a coordinated fiscal and monetary action together urgently for the short-term to make a dent. do you think that's part of the conversation right now? adam: i think that's definitely part of the conversation right now. the quartet of former central bankers who made t

david reilly, chief investment strategist we'll continue our coverage from jackson hole later today when our u.s. colleagues speak to more fed presidents as well as to the imf chief economists and bank of england governor mark carney the economist that first made the link between the yield curve inversion and recession could hit sooner than expected head online for the full story in corporate news this morning, thys serks thyssenkrupp is in talks to buy kloeckner. the german industrial book is also working to sell it's elevator's business. >> hasboro is to buy the u.k. listed studio that produces the peppa pig franchise. they'll pay $4 billion in cash at 5 pounds 60 pence a share u.s. giant said the acquisition is part of the strategy to add new family brands that will help deliver higher toy sales and coming up on the show with one week to go before the new u.s. tariffs on beijing kick in, we'll be live from china's industrial south do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the

this is bloomberg. ♪ david: big event, and of the wheat from wall street to the white house. jay powell will kickoff the jacksonole symposium with a speech that hopefully signals he is revving up for a series of rate cuts. rishaad: tuuli mccully from scotiabank is still with us. that would be music to donald trump spears, wouldn't it? tuuli: it certainly -- trump's years, wouldn't it? tuuli mccully it certainly would. the big thing this week is the jackson hole speech by chair powell and it will be interesting to hear if he sticks to the midcycle adjustment tone or will promise more. we at scotiabank think the fed will cut two more times by the end of the year, most likely september and december. david: is to cuts going to be enough -- two cuts going to be enough? tuuli: that remains to be seen but this evolving forecast and economy becomes more pronounced, the fed may have to act more decisively. they can act as decisively as they want but we have diminishing returns here. the needs to be done on infrastructure side, fiscal side globally and the u.s., no exception. we had talked about more tax cuts coming from

jackson at the v.a. vincent viola. mark green, heather nauert. vitello. david clark, homeland security. mcfarland, ambassador to singapore. steven moore and howard cain. those who have bowed out. is this just shoddy work or something more here? >> i think there's a lot of shoddy work here. you look at the parallel with the physician, the president's personal physician, who give s him a clean bill of health and all of a sudden, the president saying he ought to be. and if it were about the media, they would have pulled brett kavanaugh's nomination. the media was tougher on "the butler" -- brett kavanaugh, the republic tans said keep going. they said we don't think this guy is confirmable. twaevnt the media. it was the people telling the president, from his own party, you've got to pull this one. >> let's talk about who is next potentially. >> yeah. >> two sources tell cnn that the deputy dni sue gordon is being considered. but is not a shoo-in, or likely she will be even the acting director of intelligence. that there's a process for other candidates. are you concerned that the president

guy: brian moynihan talking to david westin early on. ,e are back with bhanu baweja ubs global head of strategy. jacksonxt week. the title for that meeting -- the challenges for monetary policy. let's talk about the big challenges for monetary policy. monetary policy seems to have hit a brick wall in europe. we are getting to an end. talking about fiscal policy. what is the biggest challenge for monetary policy? bhanu: the biggest sign of our times is there's been a complete breakdown of the relationship between unemployment and inflation, what economists like to call the phillips curve. fed, mostpar the central banks are inflation target. they have blinders on, not to get the unemployment rate that look at the inflation rate and say we need to keep monetary policy loose. what that means for asset price inflation, i think that story still being written and we will find out about that in several years were several decades. now it means many central banks will struggle to hit their inflation mandate because inflation is declining for -- it is not declining -- inflation expectations are not declining becau

joining me is bill griffith and david jolly and jeff mason, reuters white house correspondent. welcome all. bill, first of all, this is the jackson hole annual meeting, the fed chair gives a speech. what set off the president today? is this more scapegoating? >> to some extent. i mean, that was supposed to be our top story, this speech by chairman powell. he's been under intense pressure to cut interest rates to shore up our economy to protect it from the global economy, which is slowing down right now. and as you well know, andrea, a fed chair never explicitly says what they're going to do. they only hint at it. he only hinted this morning that he is open to the idea of cutting interest rates. the president wants him to cut by a full 1%. wall street is expecting .25% when they meet next month. the fact he's only hitting did not sit well with the president, hence he becomes an enemy at this point. >> it does seem that the trade war is a bigger factor overall, the overall climate. david jolly, as a former republican and former republican congress member, what is your take on the president's extraordinary language against his own f

david faber back at the new york stock exchange. poised for the biggest opening bell bounce since july big week as we set the table for powell's jacksone speech on friday morning europe is green amid more reports of germany planning some fiscal stimulus measures ten year gets back to 162 and you see gold selling off today road map begins with the president sounding off on everything from the trade war to recession fears to his dinner with tim cook. >> and one company is shrugging off concerns about an economic slowdown in china. we'll tell you which one it is. >> a moment of truth for lyft as insiders get their first chance to sell shares at the open >>> stocks are set to build on friday's rally, we're heading into this morning's trading session, the dow is within 394 points of recouping all the losses from that wednesday sell-off of 800 points is the economy at risk of recession? take a listen to what the president and some of his top aides said yesterday >> i don't think we're having a recession. we're doing tremendously well. our consumers are rich i gave a tremendous tax cut. and they're loaded up with money. and they're buying --

david duke at the coalition. everybody here ought to be condemning sister soldier and he does that with jesse jackson on stage. that part is been lost to history and i think that was a very important.for clinton. not just that he was hauling all of the sister soldier moment that he was telling jesse jackson at the party that jackson represented that's over, this is the clinton wing of the party now. we have one. everybody getting your place. ross perot, rest in peace, he died this week. he was in the president shall race that year. that allowed bill clinton to squeak it with 43 percent of the vote. as you look back and say well, may not get us everything that we want but at least it wins elections. 43 percent is not a terribly lean endorsement of electoral strategy. ross perot again and 96, allowed him to squeak through with los than 50 percent. the establishment progressive fight doesn't really get picked up again until 2004 presidential election and for the first time that 1800 number, the jerry brown try to use, and then nothing that jesse jackson had is the internet. howard running for president, not terri

is bulls & bears thanks for joining i'm david asman, joining me we have liz peek, gary kaltbaum, jonas max ferris and forbes on fox remember that show? bruce jackson bruce good to see you thanks for joining, victory 14 mitch, here was their response as their account was reinstated on twitter. they clearly have a sense of humor but it was actually no laughing matter earlier this week the account had been frozen after they posted a profanity- laced video, of protesters hurling threats at the republican lawmaker outside his home. mcconnell's team also issuing a statement which reads in part " it shouldn't have taken an avalanche of outrage from across the country to stop silicon valley from launching an effort to silence conservatives like the majority leader of the united states senate in the first place." now the trump campaign, the rnc and several gop groups threaten ed to stop ad buying on twitter until it addressed the bias. this pressure seems to have done the trick so will this be a model for dealing with twitter in the future, what do you think >> well look i think the problem is that this is not at all the first instance in which it has beco

jackson hole with steve. all starts at 3:00 p.m. eastern. davidday, so we invited him back david faber joining me 3:00 p.m. "squawk alley" up next in the meantime, dow's down 70 don't go away. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade >>> good thursday morning! it is 9:00 a.m. in jackson hole, wyoming. it's 11:00 a.m. on wall street and "squawk on the street" is -- "squawk alley" is live ♪ ♪ ♪ >>> good thursday

david: curtis, this whole china stuff has come out on a day when the fed came out with a report, they're meeting in jackson, the head of the federal reserve, the chairman came out and said that the thing that would make them more interested in lowering rates is if there was more trade problems with china. it's then, when we saw the tweet s from the president bringing china up to the floor. do you think there's any connection there? was the president trying to force the hand of the fed by creating more problems for china that would force the fed to lower rates even more? >> well it certainly will be a message that jerome powell is listening to. david: so that's a partial yes. >> that is a partial yes on my part. i think that he's made it very clear as have the markets that the fed made a mistake by raising rates earlier this year. david: okay, i just want to reiterate what has happened here , gang, because we'd heard earlier today that the president was going to make some remark about china with a retaliatory trade tariffs on our goods, and in fact, he just did that in a tweet that he issued i won't read th

jackson magnolia and came to rest against the south wall of the residence. the pilot was killed. fortunately, the thick sandstone walls of the building withstood the impact. the camp david accords were the result of 13 days of intense private negotiations between the egyptian president and israeli prime minister. it was facilitated by president jimmy carter in 1978. the actual peace treaty, however, was assigned the following year on the north lawn of the white house. weather is always a factor with outdoors offense, as many of you who have planned or attended outdoor weddings can attest to it. 1976, a steamy summer day, a tent had been erected for a dinner with queen elizabeth ii. she had accepted an invitation to celebrate the nation's bicentennial at the white house. anticipating the need for air conditioning in the tent, the chief usher asked the military to bring in field ac units. as they were cranked up for testing that morning, all of the military personnel donned heavy-duty attenuators like you would see on the flight crew of an aircraft carrier. once the generators came up to full power, it was like a 747 taking off. this would never do. the military was calle

they can to break the cycle with the markets so jackson hole shapes up as an important interim step in figuring out where the fed is in that struggle. david and the market -- chair powell says part of the reason we have to look at loosening her monetary policy is because of the uncertainty about trade and the knockout effects. you have a combination of tariffs going in sooner or later. that anniversary, october 1 looms large in the minds of the chinese. been: my view on this has that since the beginning of the year is you will not get any final tracheal in 2019. certainly not before october for the reasons you suggest. run-up ofe in the their 70th anniversary of the revolution are not about to do anything that looks like they might be losing face or imply they might be losing face. fundamentally for the markets, what people need to understand, i think the trade issue is quite simple. if and when china is ready to do and enforceable deal, they can have one from the united states. the american position has been quite clear that they want and enforceable deal. all trade deals are supposed to be enforceable yet china continues to resist that.

david crockett schools were within ten miles. >> but not andrew johnson. >> that's where i went to elementary school. nobody knew who he was. but there was a lincoln school, a jackson school and johnson school. so, no. really, it seemed that the civil war -- i can't think of the nearest civil war monument or memorial in the tri-cities. maybe people know of one, but i didn't. excuse me? cumberland gap, which is pretty far way. >> and a place that people don't immediately associate with the civil war, they associate it with other things, cumberland gap. it's letting people get on to other western areas. >> this is my excuse for not being interested in the civil war earlier. i didn't really have any of these kind of prods about this. and i kind of had to create my own sort of matrix of connection. it came of trying to be a citizen. what we do to actually help virginia and richmond. we saw, who would ever have thought that charlottesville born the burden? how can we use these things that we've learned to actually help move the conversation forward? it came to me late in life. i think i kept it fresh. >> just waiting. >> yeah. >> steve's essay really made me think -- th

jackson hole. we speak to esther george, kansas city fed president. welcome to "bloomberg daybreak" on this thursday, august 22. i'm alix steel. david westin is off in italy, so awa will be joining me for the hour. luke: it's got to be great to wake up as a traitor and not be artillery shelled through bloomberg push notifications and see the s&p already down. . to help with risk appetite. -- got to help with risk appetite. alix: as you were pointing out, you're not going to see a lot of movement ahead of what is going to have any jackson hole. s&p futures down by about two tents of 1%. you have utilities making a record high yesterday, so a little bit of risk on the side. you do have dollar u.n. -- an with its biggest drop yesterday. time now for global exchange, where we bring you today's market moving news from around the world. joining us from london is bloomberg's emma chandra. from wyoming, michael mckee. from sao paulo, julia leite. first, i want to start in europe. euro area pmi's coming in slightly stronger-than-expected. bloomberg's,go to chandra -- bloomberg's emma chandra. emma: we saw the pickup and composite pmi across

jackson >> okay. steve, thank you thank you for that news is just crossing. billionaire industrialist and political activist davidhis brother charles ran koch industries togethering in david retired last year due to health concerns. david koch dead at 79. >> too bad. >>> coming up, in-depth reaction to this morning's key fed comments and preview of chairman jay powell's all-important speech later this morning at 10:00 a.m. this afternoon don't miss an exclusive interview live from jackson hole with steve liesman comes your way just after 4:00 p.m. stay tuned you're watching "squawk box" on cnbc. >>> welcome back to "squawk box" this morning a look at futures. news out of china literally in the past hour or so moving things around. we are now in the red about 135 points looking to be lower. nasdaq would open down about 55 points lower s&p 500 would open down about 15 points on this news that china's planning to put on new tariffs come september 1st, if the united states doesn't change its ways the larger expectation, this is the continuation or an escalation of where we are ed bigger question, is where are we head

jackson hole. we speak to esther george, kansas city fed president. welcome to "bloomberg daybreak" on this thursday, august 22. i'm alix steel. davidto be great to wake up as a traitor and not be artillery shelled through bloomberg push notifications and see the s&p already down. . to help with risk appetite.

david faber back at the new york stock exchange. poised for the biggest opening bell bounce since july big week as we set the table for powell's jacksonorts of germany planning some fiscal stimulus measures ten year gets back to 162 and you see gold selling off today road map begins with the president sounding off on everything from the trade war to recession fears to his dinner