the read from douglas holtz-eakin after this. mgx minerals' disruptive technology can extract lithium - used for batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals neil: all right. more of the same. question for you here. would be where we are in this bull market recovery if not for the government diving in? in this laissez-faire world of capitalism where they like the government to be held at bay the government save the day. it is philosophical question and it's a real question. between a stimulus program and supposed to buy back a lot of bank debt and like, federal reserve greasing the skids to buy treasury notes and bonds to keep interest rates really, really low, where would we be without that? people were for a government solution. this guy was at the epicenter of it all, douglas holtz-eakin, for a while former john mccain economic advisor. i don't know if you accompanied president mccain at the time as 2018 rep

it all began with the launch of that their eakin soccer or p.t.i. in one nine hundred ninety six but it wasn't until the twenty thirteen election that it emerged as pakistan's third largest political party in this election can campaign on a track record of establishing a hospital in a university and more recently running the government of the fabric of our problems . he's long been at the center of media attention both at home and abroad which meant his private life was also no spotlight from marrying british socialite jim i'm a goldsmith whose most recent divorce the journalist ron fond even his third marriage with a spiritual advisor bush has not been without controversy fans also denied his rivals accusations that he won as many seats this time because he was the military's favorite candidate. but he has been the favored candidate of many first time voters the youth as in round one calls them his party supporters have disrupted to dish and politics in the last few years but their energy and aggressive social media presence and they've also put pr

. >> bring in our next guest, douglas holtz-eakin, advisor for senator mccain 2008 presidential campaign. doug, condolences to you, your relationship with the senator. give us a sense, when we watch the campaign unfold, there were some iconic moments where he grabs the mic and corrects the woman who called his competitor "arab," even in those moments that are challenging and being on the campaign trail can be challenging in the areas where you are surrounded by constituents of whatever state and they are throwing questions at you. he really is someone that has shown grace under pressure so many times, if you could talk about those years in particular. >> sure. before doing that, i think the events today sadly after his passing are really quite wonderful in a sense that americans get to see all of john mccain. many of us saw only glimpses, saw him on platform with ted kennedy and immigration reform or a town hall or advocating for the surge or a glimpse of him and to see the whole man, the fierceness with which he was proud of his country, to see the family he drew so much strength and im

sometimes a visit to him but it seems a desolate it was a nice enough on a suit to be seen in dallas eakins out on neil had a teacher like but had seen him since he was sufficient to leave him. whole bullfight that's. your. birth. date. our oh yeah. i know man the are oh are you all. oh. don't worry. was. the. meat to the forms over the sites. you know me to. do so here you are thank you so much. but in the day to call the young. a new year and new can many new developments for this chinese religious fledgling democracy the village committee has retrieved people's land but approval is fleeting frustration grips the villagers and as the saga began over a year before result is a. call. for a six part series filmed out of five years. china's democracy experiment on which is there. and. us and british companies have announced the biggest discovery of natural gas in west africa but what to do with these untapped natural resources is already a source of heated debate nothing much has changed they still spend most of the days looking forward to for the dry river beds like this one five years on th

holtz-eakin will join us for more. bloomberg. ♪ david: this is "bloomberg markets: balance of power." beijing warns washington against pressure and blackmail amid efforts from officials to try and reengage in negotiations just as the trump administration is looking at doubling planned tariffs. the u.s. and mexico have found common ground over cars sold under nafta, what of the most contentious points of discussion. let'smore -- for more, -eakin, douglas holtz former cbo director. we are hearing tariffs could be doubling on $200 billion of chinese goods. how would that raise costs for consumers and businesses here in the u.s.? guest: i think there no good news in this higher tariffs for u.s. consumers and businesses. these are taxes on transactions. they will be passed along in product costs, and it will come with katie said --, it will come with it the fed's life. they believe this will be an effective tactic to bring the chinese to the table and get them to modify their behavior regarding protection of intellectual pr

congressional budget office director douglas holtz-eakin and ohio state university professor explainsical expect -- conspiracy theories. ♪ host: people connected to the controversial steele dossier will supposedly expend subpoenas to officials and --. ifo, the hill shows democrats take the house, only 51% of democrats believe nancy pelosi should be house speaker.

that is douglas holtz-eakin from washington. now a check on markets. we turn to abigail doolittle now. >> we have a rally on our hands. take a look at the dow, s&p 500 and nasdaq all higher. new record highs for but the s&p 500 and the nasdaq, the nasdaq composite brits best day, two days, since early july. the buying power we saw friday continuing. the of it has to do with trade deal with mexico, but more of it may have to do with once again a weaker dollar. the bloomberg dollar index down 4/10 of 1%, seventh down date out of the last eight days. take a look at the chart, you can see the origins of the move up for stocks. we see on friday the s&p 500 climbing more than six times of 1%, that came on jay powell's comments that were thought to be just right. gradual rate hikes, if the economy remains strong. a bit of a dovish tone. the dollar fell, and we saw stocks take another leg higher with a trade deal with mexico. and if we hop into the bloomberg, we can see the breadth of the rally to see what is happening sector wise. and for this case the s&p 50

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it all began with the launch of that their eakin soccer or p.t.i. in one nine hundred ninety six but it wasn't until the twenty thirteen election that it emerged as pakistan's third largest political party in this election can campaign on a track record of establishing a hospital and a university and more recently running the government of the fabric of our problems . he's long been at the center of media attention both at home and abroad which meant his private life was also no spotlight from marrying british socialite jim i'm a goldsmith whose most recent divorce the journalist ron paul and even his third marriage with a spiritual advisor bush has not been without controversy fans also denied his rival's accusations that he won as many seats this time because he was the military's favorite candidate. but he has been the favored candidate of many first time voters the youth as in ron hahn calls them his party supporters of disruptive to dish and politics in the last few years but their energy and aggressive social media present and they've also put

john, if you'll indulge me, another fella you know quite well, douglas are holtz-eakin, former mccainc policy director. i'm reminded so many times of stories just like that that john told -- >> oh, yeah. neil: and i can remember his comeback in 2008 when he was given up for gone many that contest and later on roared past far better financed candidates to get the nomination, of course, losing ultimately to barack obama. but maintaining his composure -- >> you had to bring that up, didn't you? neil: i did, right? [laughter] you know, one of the things i remember from that whole race to though was the fact that he was a big deal, he was the leading republican figure at the time -- when you run for president -- but he did joke some years later about what he missed from that. he said, you know, neil, i could order my charter flight and go anywhere i want to go anytime i wanted to go, and here i am booking on southwest and hoping i don't get the middle seat. [laughter] it was just the funny way he timed it just to say the middle seat. but, you know, that was part of his appeal and maybe why

i want to bring in doug holtz eakin. he was director of economic policy during john mccain's 2008 campaign. he knew this photo very well from a staffer reunion last year. doug, welcome to you. you see this. i heard you talk a few times about this. i want your thoughts as you watch the ceremony today and you watch this ceremony at the airport. there's the great picture of you and senator mccain. i want your thoughts on how you believe this was handled. >> i think it was a chance for the whole world to see the lesson that was his life. one of the things i'm most pleased about is that even though the senator's passed, people are seeing all of john mccain. before that, people saw the john mccain that advocated for the surge or the john mccain standing up for immigration reform or the john mccain that wanted the pows to come home. they saw a glimpse of him. he was an extraordinary figure and a very complex and fantastic man. i think there's a greater appreciationing having listened to him. just what a fantastic individual he

and automatic eakin warns ships. tourists still visit the lighthouse. the big part of the product is focusing on repairing the lens of the white house. >>> and maybe summer break for most schools. but in san francisco city college campus there is a curious coyote that cannot stay away. his video capture this morning or the library sneaks out of the brush and goes across the road to take inteview. from the wide-open spaces of the lawn. the coyote is one of an estimated 100 coyotes living inside san francisco city limits. >>> lake tahoe's famous water clarity just took a big hit according to a uc davis report. the lakes clarity in 2017 dropped to an average depth of 59 feet. the number normally ranges between 70 and 80 feet. the report also found the lake surface time she reached a record high of over 60 degrees. two event for the changes. scientists citing record high precipitation and the end to a five-year drought. >>> the san jose city council authored a female pallet today. she's elevated her 100 the this year. we first introduced to two meta- behrin

i want to bring in, president of american action forum, douglas holtz-eakin. good to see you, sir. >> what's that? sorry? cheryl: good to see you. >> good to see you. cheryl: i guess nafta, i have heard that, i see this kind of speculated particularly in the "wall street journal" that five-year sunset clause for the nafta deal, canadians are saying that is a big no to them. that is something i heard that the united states would actually be willing to deal on. five-year-and-a-half at that deal, is that even worth it for this country? >> i think the five-year sunset clause is a deal-breaker in the congress. i don't think you could get that through. if you're a business, trying to decide whether to locate something in the u.s., have a subsidiary in mexico, canada, something like that, if it all will be different in five years you can't make that decision. it might be a piece of the tactics. the u.s. trade representative lighthizer may use it to get terms they like better but i think can't be in the final agreement. cheryl: the bigger story with mexico is the auto

ed: douglas holtz-eakin served as director of economic policy for senator mccain's '08 campaign.nse of this? we knew this was coming, but i know you served him so closely in that campaign and kept in touch with him, and he meant so much to you. what are you thinking about this morning? >> well, you're right in that it's not a surprise, but it's still just a horrible shock to realize that he's passed, and his legacy will endure, and he'll continue to inspire. it's a tough morning, to be honest. griff: doug, let me ask you, you know, you say that something that a lot of people don't talk about is that people like you that have served senator mccain and worked with him, you did your best work with him. what do you mean by that? >> yeah. it just struck me as i thought about his life that, you know, people focus on john, understandably, just a giant man with a huge presence, and there were so many people like me who would say, you know, it was such an honor and a privilege to work for him. and then i realize i did my best work for him, and and i looked at other people, and they were a

don't have the attention span to treat each company's report and decide does this company, is this for eakin ignore this quarterly miss or should i pay attention? long-term investors generally should not care about quarterly reports because there's so much noise in the numbers and manipulation they just don't mean much. >> there aren't as many publicly traded companies as there once was. you are sticking with us. from new york, this is bloomberg. scarlet: a crisis for some an opportunity for others. you should ignore the headlines and noise, and open your wallet instead. they manage $200 billion in assets. he joins us now, thank you for sticking around. your take on turkey with most markets is you are contrary and. when others see danger you see opportunity. when you see opportunity in emerging markets are you talking turkey and russia specific way or as a whole? >> we're talking about the broad emerging markets. not just turkey, not just russia. the best opportunity, the cheapest markets generally are the ones where there is the most trouble for the most reason to shun them. when a market,

rica will not fail to show their nobility and fraternal spirit towards our people a lot of coaster eakins are calling for the same. that was out of the i mean what is happening to some nicaraguans in costa rica right now is a really ugly problem and i hope the authorities can control it quickly before the situation gets worse because it's already a tough one. on average two hundred to apply for asylum and coast rica every day and more than eight thousand refugee claims have been registered since april the backlog is double that and the un's refugee agency says the national immigration facilities in the country have been overwhelmed with the number of applications now as the nicaraguan population of costa rica continues to grow the government is trying to control the situation and the president tweeted out this image showing a meeting in the presidential house to discuss some of the next steps after that violence that you saw just a short while ago and then the security minister michael sotto told reporters that police will permanently be posted in la mer said park to maintain peace he als

congressional budget office director douglas holtz-eakin and ohio state university professor explains political expect -- conspiracy theories. ♪ host: people connected to the controversial steele dossier will supposedly expend subpoenas to officials and --. ifo, the hill shows democrats take the house, only 51% of democrats believe nancy pelosi should be house speaker. in part to protect communication satellites from attacks on the ground. supporters say defense in space of the assets, if need -- is needed, but some critics say it is not a good use of physical or financial resources. we will learn more as we get your thought on the sixth branch of the armed forces and if it is needed. if you think as and want to tell us why, (202) 748-8000. if you say no and want to tell us why, (202) 748-8001. and those of you in the armed forces, active and retired military, if you want to give thoughts on this, (202) 748-8002 . or can tweet us on @cspanwj post on our facebook page at facebook.com/cspan. that event at the pentagon was yesterday, featuring vice president mike pence. you can see that

douglas holtz-eakin with us.t right, i promise you. >> good morning, stuart. stuart: good morning, sir. you don't like the trade business, do you? you don't like tariffs? you don't want to upset nafta, you're happy with the way things are, aren't you? >> i think nafta could be improved and there are improvements on the table. there is no question, but i'm not happy about the expansion of tariff and non-tariff barriers to trade. the administration's stated position, we'll use tariffs as strategic tool to get to better trade deals which have fewer barriers to trade. the deal they announced with mexico has higher non-tariff barriers to trade. it has minimum wages, domestic content, steel and aluminum rules, and did not get rid of the steel and aluminum tariffs. that doesn't seem to be the outcome they promised. stuart: we wanted to go, i think the president wanted to go towards much more free trade, much more trade. absence of tariffs on all sides but, we're not going to get there, by the looks of it, we're not goin