david malpass. from geopolitics to domestic politics, the presidential campaign was a huge story in the second half of this year. and it promises to be the biggest of 2016. john harwood joins to us help us look back at some of the big political stories of the past year. is what we're seeing on the campaign trail signaling a lasting change in our system, john? it seems so polarized more so maybe than ever. >> it's extremely polarized but donald trump is really a phenomenon we haven't seen before. totally unconventional candidate. way outside the norms of in terms of his behavior, his rhetoric. what we've seen from other candidates. so i think the question of lasting change depends on how lasting donald trump is. a lot of people, myself included, did not expect him to be the force that he ends the year as. but we'll see when we get close, february 1st is the iowa caucuses, february 9th is the new hampshire primary when the real votes getting cast is donald trump still going to be in the thick of it? t

david: of ohio state, who is going to win? ed: -- scott: our guys will win. we are ready to go. jimmy: no question about it. stephanie: thank you so much. jimmy dunn and scott malpassl be back in just a few. we're talking about bill ackman. ♪ is engineering a blockbuster railroad deal. we have an exclusive interview with the ceo of canadian pacific. a brave new world for high-yield debt. we will tell you while jump on's are likely to suffer into next year. and what is the buzz about lululemon? they could be an exit should target. we will be talking about the founder and former ceo, jim polson. -- chip wilson. ♪ stephanie: welcome to the second hour of "bloomberg ," i am stephanie ruhle. david: we have a lot of news. watching oil are prices fly. earlier, barrels below $35. oil production only seems to be going higher whether we are talking about saudi arabia or iran. but you have to take a look at the financial markets. stability,pt and investors grow concerned that we are going to see a slowdown in global growth. if there is a slowdown, you won't have demand. david: over the weekend, my friends were talking pretty negatively about with the economy might he doin