we want to catch those general dynamics made a double top pattern. right around where the stock is currently trading if we get the breakout that collins is looking for, general dynamic also have moved past that double top pattern, and i think it will make a lot of people cover their short if they're shorting general dynamics earnings season is crazy, so let's say general dynamics does go lower even if the report is a good quarter, what's collins take then if the stock breakout fails, he expects it to stay stuck in the current trading range. he's looking at one at 200, and one at 196 in his view, those are your potential downside targets if something goes wrong, he predicts $3 to $7 worth of downside if general dynamics can break out above the resistance, the stock could go to $215 that's up 11 and change. may not sound super amazing, but an 11 up, 4 to 8 down scenario, that's something a trader should be dying for if general dynamics wasn't about to report earnings, this would be the only picture that collins would focus on this is a thing of beauty,

that is part of the dynamic. we talk about the rise of the rest. how do you make sure everyone has access, so you don't have these places where the wealth and innovation is happening in the rest of the country feels left behind? >> we have been using the term internet of things. you use the term internet of everything. steve: internet of things is interesting concept. things like smart cities. this third wave is the internet and everything. even the internet as a phenomenon starts to become taken for granted, like electricity. electricity was a new technology. once it goes out, we take it for granted. that is one of the dynamics in the third wife. the internet is embedded in everything. the policy members understand the dynamics. we get the rules right. what about cyber security and cyber terrorism, all of these are big deals. policy wasn't that important. the fda, something like that, financial services, making sure protections, the dynamic around the innovators engaging with policymakers are more important than it was in the second. >> government

that's part of the dynamic but the other dynamic, what we call in the book how do you make sure entrepreneurs ever has access to capital. the media is telling their stories so you don't have these places where essence of the wealth and innovation is happening in the rest of the country feeling left behind. >> host: for the last several years we've been using the term internet of things. you use the term internet of everything. >> guest: it's an exciting consequent sensors and how you integrate that in your homes, offices intercedes and things like smart cities but the third wave is brought the net. it is the internet integrated and everything to even internet as an industry, as a phenomena starts to become taken for granted like electricity. electricity was a new technology and now we take for granted. once he goes out, we take for granted. it's embedded in what we do. the internet is on that path and that's one of the dynamics in the third wave but it does have some competition issues. the internet really is embedded in everything and integrated in our lives and fun of things like how we sta

that's a different dynamic. fed and taper tantrum's and unwinding of balance sheets, is there stability within the financial system of the pacific rim and stability with market indicators of that system? callum: there is much greater stability within the financial system from the point of view of relative years ago during the asian crisis. it did not have this massive that the u.s., u.k., or europe had. could it be impacted by a developed market crisis? absolutely because the developed market is still the largest holders of private sector capital and that goes home. mike in foreign policy published in the last 48 hours -- is adamant there is no u.s. presidential policy on asia. president obama wanted to pivot. what do you perceive president trump wants to do with the dynamics of the pacific rim? callum: in the immortal words of joanne "it is too early to tell." tom: fair. callum: from the point of view that there have been various attempts at policy and a number of people have thought to to determinesought wheth

i want to make sure that the policymakers understand the dynamics of the third wave so we can get it right. but i also want to make sure that the innovators and entrepreneurs know they have to engage in the policymakers to make sure that the rules of the road are structured and some of the issues around privacy and big brother whenever it is connected with about cyber security cybersecurity and cyber terrorism, these are a big deal. they will not have driverless cars on the road or drones in the sky without a regulatory framework, so that's going to be different in the third wave in the second wave. for facebook or insta grandma or open table things like that. the policy wasn't that important. you didn't have to pass muster like the fda or something like that or the financial services kind of making sure that they are certain protections of the dynamic of innovators engaging in the policymakers much more important in the third wave than it was in the second. >> from the book government is going to play an important role and like you said it's different than the first and second. what

that is part of the dynamic the other dynamic talks what we call the book the rise of the rest. how do you make sure the entrepreneurs everywhere have access to capital and media telling the story so you places where only wealth and innovation is happening in the rest of the country is left behind. >> for the last several years, mr. case, we've been using the term internet of things. you use the term internet of everything. >> and trinity of things is exciting and how you can use that in your offices, cities, but the third wave is broader than that. the internet integrated into everything in a way that even internet as an industry, phenomenon, to become taken for granted. like electricity. electricity was a new technology and now we take it for granted. it's embedded in what we do. the internet is on the path and that's one of the dynamics in the third wave. it does have completed issues. the internet is embedded in everything and integrated into our lives in a fundamental thing like how we stay healthy, how we move around cities, what we eat, things like that and there are resp

eventually the dynamic has to change.r we are going to war and we are going to drop missiles or some of the country -- some other country is going to have an impact on north korea. >> the most extreme step, the one thing china is afraid of is a nuclear japan. that is their nightmare. japan is their historic enemy for centuries. nukes in the hands of the japanese would really scare them. the chinese are the only ones who can shutdown the regime in north korea. you really want to pull out all the stops short of war, i think we should go to the japanese and say we should make an announcement that we are going to go nuclear as a way to deter pyongyang. that would get the chinese attention and perhaps it would offer a way out. >> wasn't that donald trump's suggestion? give the nukes to south korea and japan? >> he has suggested a lot of stuff then a lot of different ways. it's the only way other than acquiescence or war. >> this video is nice and it's great optics but you could be shooting down their own icbm tests and we coul

talk to us about the dynamic the two of them will have? he had the ability, to clayton's point, to have more control of things to actually get access to his schedule? >> yes. thank you for having me this morning. i think general secretary kelly will bring strength and discipline and put out without even saying so the dictum that loose lips sinks ships. people will think twice before they try to hurt each other, using colleague by using the press to do. so or thinking they are helping the president by conveying information that, perhaps, is not yet ripe for public disclosure or is in negotiation or conversation. and i believe that general kelly also preps somebody who is very deliberative and patient and strategic. we know our military is filled with people at the highest levels where, of course, he has served ably and honorably for decades. with men and women who subvert their own egos to the greater good and the greater mission. that's how we succeed as a military. some of our toughest minds and toughest people and most spirited people se

i hope he rejects it. >> bret: this has changed the dynamic.his is a different level we are at right now. true? >> i think so. iig agree with elliott. if we could get a freeze on nuclear production that we can verify or that the chinese and russians and other third parties could verify, i would consider s freeze for freeze but the one thing offer now is not favorable to america. >> bret: elliott, on this other topic not getting a lot of coverage, the battle between qatar and the other gulf states. about what's going to happen and for qatar possibly supporting extremism and terrorism. >> the qataris need to come halfway. they need to stop doing what they are doing. if this results in the end of the gulf cooperation council, it is a gift to iran and we should be working hard to avoid dates. it would help if we had a state department full of diplomats and one of the problems is secretary tillerson is a kind of a one-man band. makes it hard to do all this diplomacy. >> bret: fortuitous fourth of july to have you in.es happy independence day. up nex

interesting dynamics on safe haven currencies. drugmaker glaxosmithkline, the key number is second-quarter 27.2ted eps, at a beat at with glaxosmithkline saying the program to deliver added one billion pounds per year savings by 2020. second-quarter revenue at eight feet, overall the adjusted eps number you want to watch and share price reaction, we saw them drop a little bit when the number came out but it flattened a little bit, off by 2/10 of a percent. elsewhere in the market, european stocks more broadly, demand for risk assets, european stocks gaining for a second day, euro-dollar is five years since mario draghi said he would do whatever it takes he saved -- to save the euro and walking the 10 year yield as we see the curve flattening following the steepening yesterday. copper, watching commodities broadly but copper hitting a two-year high and the commodity rally feeding through to asian equity markets. tom: thank you. with kevin cirilli in washington , tumultuous day, what should we expect from the senate today? >> they w

but it's a great dynamic. i will tell you it helps you do your job when you interact with other countries to know exactly what the decisionmaking process is. >> and you just came back from a trip. one of the places you visited was a refugee camp. i know you shared it with us yesterday in the foreign relations committee. what did you see there? is there anything that gives you hope for the future? and does anything there give you cause for deep concern in the long term? >> so i did multiple -- i always go the refugee camps and see refugees outside of the camp. i did it in jordan and turkey. i was interested in the syrian migration and what was happening with the syrian refugees. i did it in israel and gaza to see what was going on with the palestinians and then in the camp. what i can tell you that is amazing is that first of all, the syrian people have amazing resilience about them. they are hopeful. they are able to smile. they have seen a lot and they have been through a lot. through all of this they remain

so it is enormous and the dynamic we have set up, the dynamic that has brought us to this has built intot its own scenes of destruction. and only this open to discussion in all of this, this is just part of the battle. you can read about this in the book, some of my ideas. but i believe this was a challenge and the whole question of the conceptual basis of sustainability and a critical idea that i haven't discussed here is that it is potentially misleading to think of each one of the problems that we have addressed whether it is climate change, global warming, environment, energy. speaking of them in their own individual way. focus on each one individually and not see them as totally interconnected. and you can see that in the graphs of the city scaling. but all of these things are interconnected and behaving in the same way and they all have their origin in social interaction. so a change is something to do with changing the social network structures.i'm finished here and i'm happy to take questions or discuss. [applause] >> what accounts for the economy scale 50 percent bonus that you

are going tod they a value which market dynamics but not -- they are going to evaluate market dynamics respond. do you think the caps are starting to work? daniel: there are signs, but it has been a lot slower than they expected. the market as well. it is a little bit wrong to andest you need to analyze listen to what the market is saying but not respond. they were clear at the start of this crisis they wanted to be a part of the market and the investment community more so this time that i have in the past. -- they have in the past. this goes to the issues. we can in the background still wait and play this thing out, in the shorter term they need to be a little bit more proactive about the investment community is saying. haidi: update the cuts? daniel: i don't think they do. if we look at six to 12 months, things are playing out as expected and how that looks through the later half of this year into 2019 is a tight market. that could reduce the inventories. if the market is calling for more, and pressures and prices subsequently, they might have to react in a small way. meetings,ng int

eventually, the dynamic has to change. going to war and we are going to drop missiles or some other country is going to have an impact on north korea. >> i have long advocated the most extreme stepgrandmother one thing that china is afraid of is a nuclear japan. that is their nightmare. japan is their historic enemy for centuries. nukes in the hands of the japanese would really scare them. the chinese are the only ones who can shutdown the regime in north korea. you really want to pull out all the stops short of war, i think we should go to the japanese and say we should make an announcement that we are going to go nuclear as a way to deter pyongyang. that would get the chinese attention and perhaps it would offer a way out. >> wasn't that donald trump's suggestion? give the nukes to south korea and japan? >> he has suggested a lot of stuff in a lot of different ways. if he is president, he ought to outline a policy. if that is the policy he chooses, i think it is the only way other than acquiescence or war. >> this video

you have here that general dynamics. the right power gets bigger and stronger and the third-party action is a very interesting to watch in the case of the peloponnesian war. other parties look to see who is the relatively stronger power and who is writing and falling and adjust themselves as they're looking after themselves. already, across asia, countries have noticed that china is their dominant trading partner and that china is mean. they are prepared to squeeze them when it feels to their interest. so, lo and behold they have adapted and adjusted and you can see that right across. in fact, if you look at the institutions that people try to build in asia to counterbalance china you can see the weakening because chinese prefer to do one-on-one. in the european case, as one looks at the picture, first what's happening to the economic balance of power. china is today the largest economy in the world measured by the single best yardstick if you had to pick one which is purchasing power. at a long discussion in the book an

what she did was to link geometry and dynamics together.elates to forces and the motion these forces cause. the two are very intimate. if you think about our solar system, we have a son as planets and they are in fixed positions. the way the planets move, the fact that off sonorous go around the fact that off sonorous go around the sun in an ellipse, that is the dynamics of the system. what she was able to do was to link these two together, but not in something we can visualise like the solar system, she did this in a very abstract world of current mathematical surfaces. to have an imagination and to be able to visualise these things and then to have all these breakthroughs in that field is just incredible. it sounds extraordinary. she is a woman, was a woman, and a male dominated world. how significant is her achievement? as i alluded to before, the field medal is the mathematical equivalent of the nobel prize. the fact that it took until 2014 for a woman to win this, it sort of shows just how difficult it is perhaps is for women in maths

yesterday and through today, this very interesting dynamic asserting itself.uro that is stronger in the privy that is thick -- that is stronger and the periphery that is thick. next the euro as a currency that is very hard to invest in. it is recently passed in a situation where had they win, tails i win on the euro, and that does not last forever. you need to look at what is going on. the fundamentals of the european economy and what is the resolve of the ecb? is the resolve of the ecb in terms of maintaining was financial conditions is very significant. the ecbet was viewing as being a bit more hawkish one month ago, and moving with the fed as far as moving accommodation, not likely to happen when you have inflation atning in your up -- europe half of the ecb target and weakness in the southern half of europe. i do not think it can last forever. jonathan: lisa, is this a message to the affects market or the bond market, or both? because he market, is saying let's not get your hopes up. let not yet -- we will not yields go up too high. we will keep them low.

i kept looking at different dynamics going i don't get it. i don't know why more republicans aren't standing up and saying, hey, this is wrong. hey, i don't even have security clearance. how can jared kushner still have it? hey, i'm concerned, too. >> it is an argument. it is a discussion. it's a conversation we have been having i think literally from the very start of the donald trump campaign. you think of that speech he made when he entered the race back on june 2015. he's made those comments about mexicans. you we heard voices then saying it is not right, it is not normal. it is not proper. it's not acceptable for a president of the united states or you we heard republicans say for a republican candidate for president to say those things. you we heard it when you we heard about the muslim ban. you we heard it when he played dumb about david duke. you hard it order and over. he won the primaries the nomination. by a narrow margin, he did get elected president. i'm hearing again the conversation. is it right? is it proper? is it acceptable

yesterday and through today, this really interesting dynamic asserting itself.he first time i have seen in a number of years, the euro is stronger and the periphery's bid. can that continue? mike: i think the euro is a currency that is hard to invest in. recently, you had a situation where heads i win, tails i win. that does not last forever. i think you really need to look at two things. you need to look at what is going on with the fundamentals of the european economy and what is the resolve of the ecb? the bottom line is the resolve of the ecb in terms of maintaining a loose financial conditions is very significant. the market was viewing the ecb as being a bit more hawkish a month ago, and moving with the fed in terms of removing accommodation. not likely to happen when you have inflation in europe at half of the ecb target and weakness in the southern part of europe. i do not think it can last forever. jonathan: lisa, when he is talking about unwarranted tightening of financial conditions, is that a message to the affects market or the bond -- fx market or

. >> the atmosphere is so dynamic, it's like boiling water. we have all these storms percolating up and down, they're dynamic. when they go up they can get big and when they come counsel, that mass comes down, and that's -- come down, that mass comes down and that's where we get the big wind. we have seen new storms in the fredericksburg area, and colonial beach, and when we take a vertical slice of that, we're looking at them. these are pushing 50,000 feet or higher in a few spots and when you see this area here with a little bit of pink, this higher reflectivity is there across the bay, that's a sign there could be hail. that's one of the things we're looking for there, and we are looking at these other storms in the fredericksburg area because they have also been big and growing rather that, these tops are over 60,000 feet. we know there's going to be torrential rains, the atmosphere is three dimensional, dynamic, with winds at 50, 60 miles per hour, and if they get tall enough, we can also get hail, and we do have the potential of these st

this method of fudging the numbers is called dynamic scoring.ould tell you that if the government cuts taxes it'll get less money in tax revenues. but sprinkle the magic pixie dust of dynamic scoring and you can project much higher growth rates and then the revenue numbers soar upwards in theory. the story of dynamic scoring is the story of the republican party's abandonment of facts, science, and analysis in favor of ideology. decades ago republicans were advocates of fiscal restraint. they were the party of green eye shades, conservative assumptions and careful accounting. they did not believe in wide-eyed assumptions and in counting chickens before they were hatched. in fact, when ronald reagan proposed tax cuts that he claimed would pay for themselves, his traditionalist republican rival george bush sr. derided his approach as voodoo economics. but with the reagan revolution came a new mantra. tax cuts were the answer to every problem and the economics could be bent to make it all work out in theory. in fact, the national debt tripled under

as the arrival of donald trump in the white house changed the dynamic?oo early to say but what has been changed since trump came to power is that, you know, you have a more friendly president from the philippines to the chinese, he wants a friendlier approach. when trump scrapped the tra nspacific partnership, japan is taking a more active role. it is still too early to tell whether his arrival has com pletely to tell whether his arrival has completely changed the dynamics in east asia, especially when it comes to security but we are going that way, the us is playing a less important role and the dynamics in asia are being formed. we are looking ahead to the ge 20 in hamburg this week. are there major expectations of what china can take away from the meeting? after trump being elected, there is a general sense that china is taking leadership on various issues, for exa m ples leadership on various issues, for examples climate change, the paris agreement for a sample. angela merkel is reportedly going to raise theissue merkel is reportedly going to raise t

under the surface there are a couple of dynamics.hich are half of the stoxx 600 are seeing forward estimate revision positive. is u.k. contribution which on a percent of the index has started to roll over and part of that certainly is a reflection of translating british earnings into a stronger euro. that's an issue going forward. as we think about the second half i think it's going to be a tension between underlying economic growth which for the region are quite robust versus this currency issue in the u.k. and switzerland as well. nejra: what i find interesting about this is we have been talking about the fact that the stronger euro we have had recently could pose a bit of a risk and we are starting to see that inverse relationship come back already. it's an interesting confluence. the issue with the euro which is being supported in part by ecb expectations of snogging which would raise rates can be good for banks for example. if it's modestly higher rates that helps for revenue which is really the only driver left for the banking

. >> he identified the dynamic in which a rising power feels stronger and deserve a little more weight. the current arrangement set in place before i was bigger and stronger are confining. maybe i can even remember some abuses, and the ruling power thanks they are trying to upset the situation that has provided the environment so this dynamic between the rising power in the ruling power exhausts trust so they are misinterpreted by the other. if i tried to be benign you suspect to have an ulterior motive and vice versa. similarly we create vulnerability to the impact of external actions or events in which something happens and one thing triggers a reaction and then a cascade at the end of which is an outcome no one would have imagined. the dynamic here is not that in the rising ruling power of relationship one part party decides this is a good idea. that's not the proposition. the proposition is rather the arrangements are great because they provided a long time of peace and allowed to grow rich and, the u.s. constructed, in the aftermath of world war ii, and economic and security order

right now that's not the political dynamic but that is the dynamic within the agencies. i think agencies needs to be left to doing that careful balancing in the transparent and accountable system that is the administrative procedure act. one concern i have is that it will interfere with this process fundamentally. agencies need to be able to build a record, not have that record challenged midstream but wait until it is completely built and then that rule can be challenged in court. there are proposals out there to have interim records that are part of a proposed rule challengeable in court. that prevents the agency from perfecting the record. i use perfection in quotes but to doing a better job with the record based on the feedback that it gets back from the public comment process. it actually allows challenges at an earlier stage. the way that agencies can avoid these unbalanced political dynamics actually solve real problems, is to have the opportunity to build a full record. that way it will come to a court to decide is there really evidence of benefits, is there real

they understand this is how you build a dynamic future. a dynamic future not for a bunch of people right up at the top who just sit around and invest. a dynamic future for the people who actually do the work. so, thing about it is, it is not like it's a secret what it takes to build a dynamic economy. it is not a secret what it takes to build good jobs. what it takes it takes political courage to say no to the rich and powerful. we're building a country that works for the rest of us. that what it takes. [applause] >> my dad is in the financial sector. he says he will vote republican if you you run for higher office. [laughter] >> okay, that's fine. >> he is a democrat. he voted for jimmy carter in 1980, so he is pretty far left. >> voted democrat for jimmy carter? >> how do i convince him you won't destroy his jobs? >> so, look, you know, actually, here's the thing. there are, i get it. there are folks on wall street, oh, my god, you will take away everything i'm doing. i say only if you're lying and cheating. [cheers and applause] if that

that is a different dynamic, i think. that is much more -- when things are that small they are much more vulnerable. there is greater vulnerability. it is where we have socio economic systems that we have now. that was not dealt with in diamonds book. what he dealt with was much more roman empire. it is a major piece of that. what i didn't talk about here which relates to that a little bit is how this translates into complime companies, and why it is companies fail or disappear. and some of the dynamics led to the demise of the roman empire. they start out multi dimensional. innovation is in the forefront. the company grows and the dimensions decrease and at the same time one thing they do is increase research and development saying we can come back to that later and usually it is too late by then. companies become vulnerable. cities are the opposite. they become more normal. in a successful city, there is a huge spectrum of jobs and opportunities. i was in new york last week, there was a store there that only sold antiqu

the problem is enormous and the dynamic we have set up, the very dynamic that has brought us to this is fantastic and has built into its own destruction unless we intervene to change something and i leave that open to discussion. this is just one part of the book. you can read about it in the book. i leave it more to challenge in terms of the whole question of the conceptual basis of global sustainability and a critical idea that i haven't discussed here is that it is potentially misleading to think of each one of the problems we have addressed whether it's climate change, global warning, the environment, energy, health, thinking of them in their own little individual way and focus on a 20 individually and not see them as totally interconnected. you can see that in the graph of the city scaling that all of these things are interconnected and behaving in the same way and they all have their origin in social interaction, so it's a change that has to take place and something to do with changing our social network structures. i will finish there and i'm happy to take questions or discuss

dynamism of society these are places where people want to live in everything right russia should take a lesson from that get away from a model that is so heavily dependent on energy start building in biology kaname get its industrial base back going the best way to do that is to deepen its ties with europe speaking of which i really want to ask you about the upcoming visit of trunk to. europe for the g. twenty summit that meeting between put an interim face expected there and i think what's interesting is that it's is that both france and germany at kind of angling for and mediating role between moscow and washington why would they be interested in something like that. well you know i think that the europeans have their work cut out for them and that their priority right now is figuring out how to work with donald trump because trump's first visit to europe did not go very well the needy meeting at nato and then the g. seven in sicily it led to a situation in which uncle a miracle said hey europe may have to be on its own so number one priority i think is going to be let's figure out

it was and though lecture but this dynamic relationship and wanted to help the other scientist but then i realized it surprised everybody parents and children and lovers and salespeople by even help to raise money for the center for communicated of science that i helped to start for gore started a company for the communication and training company that will offer the services of communication and training to corporations so for instance the workshops for women and business with those obstacles of women trying to make progress. that should have been solved decades ago instead of interrupting women and stealing their it is or promoting the trees above them for all those to advocate for so we're doing too good things at once leadership and teamwork so it is day happy trajectory i did not decide to do it it was just up by step. >> host: you write about the book "scientific american" ask you to host a series of programs and you had been reading this forever. it was like a dream come true but the first was not. >> true the producers asked me with their wanted me to host and they wanted me to

says the dynamic scoring is not about honest revenue estimating, it's about using smoke and mirrors toize republican ideology into the budget process. steve mnuchin, garry cohen and others in the administration know better. instead of smoke and mirrors they should use facts and analysis. >>> the proposed wall on the mexican border is just the start of the nationalism and isolationism that could be coming to this new america, the man behind it all, steve bannon, we'll go inside his brain when we come back. for the strength and energy to get back to doing... ...what you love. ensure. always be you. listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. you...smells fine, but yourin your passengers smell this bell dinging new febreze car wit

it is untrue but with those dynamics. >> the american dream ended when the war on poverty began. >> it and in particular the disproportionately hits black people because she by the lie that the government will take care of you then you are trapped and they reward you for ill behavior than it is hard to get out i was there. it is very difficult you find all about the services available you are committing social suicide to have economic discomfort because once you leave you have to try harder. john: you are discouraged from being buried 893181 -- 1940 the black marriage rate was higher than and right -- the whites but the idea is of progressivism but it affects them also. eight lew 3% at of wedlock to more than 30 percent today. john: thank-you. >> another enemy of the american dream those that prevent the entreprenuers from achieving their dream. you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had l

the dynamics are there, for the uk to find itself in a situation that while europe is still trying tohat direction it wants to take itself, that will have a direct bearing on negotiations it has with us. one of the criticisms we get from europe, we don't quite know whether we can negotiate with the british government, how stable are you? it applies the other way, in terms of vision for europe, they themselves are not entirely clear. the other factor do bear in themselves are not entirely clear. the otherfactor do bear in mind when it comes to emmanuel macron is this, he is a man who has fought one election in his lifetime. that is to become president of france. he is yet to face the hard realities of political dynamics in france, let alone at a european level. what do you think about some of the other smaller member of the eu, will it be a two tier it you imagine? there is a two tier it you imagine? there is a resistance to that from the smaller member states, it was one of the options in the 5—point plan you we re the options in the 5—point plan you were talking about, effectively a

he said that he wanted to understand the economic dynamism and was religious diversity and free-speech assembly, price, religion and protest and i was new. this american exceptionalism is about the impact logical truth that human dignity built a special community but no one in europe that we have economic dynamism that flowed from our cultural pluralism and there's this dynamism in 1830s in america, transportation revolution, canal revolution, railroad revolution, what led to the factory system later, he wanted to list europeans and since american had economic dynamism they must have the best bureaucrats i went to washington dc to find the meaning of america. he gets here and he says, this place is a swamp don't work that hard. it's not that interesting as we traveled out until 17 other than 25 states, to the capitals, to figure out the meaning of america he wrote back and said the rotary club is the meaning of america for its communal and these people believe in neighborliness and believe in persuasion but is voluntary. it is not compulsory so much of america is about the places where

i think that's one dynamic. the second dynamic is earl on there wasn't a medicaid expansion.so they were against it. now it's there and it would be taking something away. that's a whole different set of dynamics. the issue with the president, we should add, not that he hasn't been as involved. some republicans feel he's done damage. tweeted, for example, maybe just repeal it, worry about the replace later. you could just see mitch mcconnell shaking his head. not helpful to do a degree, a criticism he's not engaged enough. another's when he does engage, perhaps no the to help the cause. >> stuck in the middle with you politically and with the president, mr. blonde, once again. talk about mcconnell. how does he think this is going to go down? he's got two senators already saying, they're going to vote against the motion to proceed. if he loses one more this thing won't get a vote on the floor. dean heller goes home this weekend to nevada, maybe talk to the governor there who still says he's against this whole thing. how does he win heller over in the days he needs to? >> no ide

yesterday and threw two today, this interesting dynamic for the first time in a number of years. europe stronger, a periphery bid. can that continue? >> i think the euro is the currency that is very hard to invest in. you have had the situation where win, andin, taleils i that doesn't last forever. you need to look at the fundamentals of the european economy, and what is the result of the ecb? the bottom line is that the resolve of the ecb in terms of maintaining financial conditions is significant. the market was safe a month ago in terms of the ecb moving more hawkish with accommodation. it's not likely to happen when you have an inflation currently running in europe at the path of the ecb target and you have significant weakness in the southern part of europe. jonathan: when he talks about an unwarranted tightening of financial conditions, is that a message to the fx or bond market? >> for the bond market. he's saying, don't get your hopes up. we are not going to let yields go up. we are going to create the bid to keep yields low. at the same time it makes me wonder how much i

we are working on the dynamics. i would say late this fall.ly: dick costolo, chorus fitness ceo, former ceo of twitter, great have you on the show. thank you. coming up, we are on the ground at the taobao festival. which gadgetsou the youngest consumers in the country are gravitated towards -- gravitating towards. this is bloomberg. ♪ emily: alibaba is taking a page from the amazon go cashless convenience store by showcasing a similar concept in its chinese hometown. bloomberg tv not asia correspondent stephen engle got a use -- a look at the taobao maker festival that features other new retail strategies that integrate online with off-line shopping. reporter: the taobao maker festival is where the virtual world meets the physical. someone hundred eight taobao 108 taobaod -- some vendors selling, millennials by all kinds of stuff. the festival, in its second year, is doubled in size of last year's. showcase off-line -- for the online sellers without the crippling brick-and-mortar overhead. whether it is the latest in eye-popping design or body

tough power dynamic where you reliance upon say advisers for data or team members and you have moments of isolation say in the lab plus moments of socialization in conferences and you just have a unique work dynamic going on so all of these different social interactions that have to occur either on an individual level on a larger level starts to impact what that culture looks like for the entire group and when you have this majority white male culture you start to have these issues crop up and i think the thing that we see from our data and from these results is that here we have a group that has got an extreme white male culture dynamic in terms of the demographics compared to the united states population and we're seeing these issues on a much larger scale. what's interesting about that as you say that is that eighty eight percent of your respondents said they heard comments they interpreted as racist or sexist that they were just sparing of someone's femininity vascular all that sort of stuff and what's interesting about that is when i looked at the numbers i was looking at your res

if we see tensions escalate, do you think we will see a return of the old oil price dynamic where oils off of the back of tensions in the middle east? >>that ever coming back? there are obviously put the other tensions in the middle east. a are always talking about $10 a barrel premium on the price. stocks are very high, any disruption could be covered by stocks for an extended. . market disruption would be easily recovered. >> your is what strikes me in terms of how opec's with all of this. if you look at what they have done in the past, they are breaking with their own tradition, they put out a lovely they say it has been working the past. that is what supply management is. >> they have been frustrated that they haven't seen the response. shale has proved to be so flexible. as we see now, when the price does go lower, the price is really struggling to break above 50 for an extended time. the show story also slows. >> that drop in u.s. production that we saw last week, do you think that is the start of something new in the u.s.? >> of course, there is the tropical storm in the gulf o

so important dynamics are changing notably.,u think about the that now goes away if the pound is flat is levels on a trade weighted acis. if you think about the euro, it's moving into being one of the strong currencies globally. we are now up about 4% year on year if you extrapolate current levels into the third quarter. that will create a revenue drag from a translation per spec two. the offset is it may spur european companies with further domestic confidence to be looking a broad from this strategic opportunity if they have a strong currency that supports overseas investment. vonnie: what will be the areas that draw the most attention from investors? obviously, financials and tech knowledge he has been very -- technology have been very attractive. >> the expectations are highest for energy. earnings.the easiest it should go 300%. technology is second in line. they are still supposed to produce double-digit earnings growth in the s&p. as much as we want to get away from talking about them, they are going to draw the line shar

the inflation dynamics are really tricky.ed to. it is a very hard question. fundamentally, the central banks are in a very tough position. what are they going to do? they are going to go really slow. on the qe side, it is going to be like watching paint dry. they are going to make it so boring people are going to stop talking about it. alix: never. [laughter] >> on the interest rate side, you may get another hike this year. but they are going to be really gradual because they themselves don't fully understand productivity, inflation, or weight determination. alix: it has been great to spend this 40 minutes with you. and chad morganlander, you will be sticking with us. ge is getting hit pretty hard. the cfo is saying that earnings will trend to the low end of their profit forecast for this of the part because ongoing challenges it faces in the oil and gas market. ge is subtracting eight points from the dow industrial average today. the s&p is having its worst day in more than two weeks as the industrials weigh on the index. we

what she did is to link geometry and dynamics together.us and dynamics relates to forces and the motion these forces cause, and the two are very intellectual. if you think about our solar system, we have a son and we have planets, and they are in fixed positions, that is the geometry, and the way the planet move, the fact that us on earth goes around the sun in an ellipse, that is the dynamics of the system. what marianne was able to do was link them together but not in something that we can visualise, she did it in a very abstract world of curved mathematical surfaces and to have that imagination and be able to visualise these things and then to be able to have all these breakthroughs in that field is incredible. it sounds extraordinary. she was a woman in a male dominated world, how significant is her achievement? as i alluded to before, but feels medal is the mathematical equivalent of the nobel prize. the fa ct equivalent of the nobel prize. the fact that it took until 2014 for woman to winds this, it shows just how difficult it is for

so therefore we need to really carefully look at the security dynamics in the middle east and domesticchallenges of turkey. so therefore the relationship between regional geopolitics and the regional politics are important to explain turkish foreign-policy and secular policy. the third one that is also important to understand how domestic political actors, actors are reacting with the crisis come emanating from syrian civil war, iraq, turkey struggles against daesh compass the domestic political conscience is really important to see how turkish foreign-policy and secular foreign-policy will look like in the near future. when we look at the regional geopolitics. of course since the emergency of the need for so to speak social movements in the middle east after the arab uprising, i think we have been experiencing radical challenge. there are many dimensions of these radical challenges but i can summarize by looking at four different dimensions of radical security challenge. i think the person is -- [inaudible] so to speak, talking about the failed state. when you look at the wider middle

and so we were writing specifically to that we were writing to our heritage is our dynamic. and. we called it no enemies because we found that we were just so as a country even at that time and working on it so beleaguered with the us versus them and so then when the album was done. shortly there after trump was elected and we were releasing singles and now it was one of things that happened with people like oh that song pray is about trump well not specific no that's specific. but it is the type of thing where you see that with every new movement there's waves of people so occupy happens and waves of people step into the streets and then likewise matter happens and waves of people step into the streets and then you know the climate change that people keep step new people keep entering and you know it's from selection suddenly you have tons of new people that say look old now is the time i need to get active in there's always dynamics that happen when a new group of people step into something. and there's been people there many many years before but it's important to find ways no