tad fitch: he knew it was a desperate race.edt: all he could do was just go and hope, and they came to the rescue. [eerie music] there's a lot of conversation about why titanic didn't have enough lifeboats for everyone. don lynch: they were required to have 16 by law but they had four extra craig sopin: there were 20 lifeboats, so if we do the math-- don lynch: if they had filled all 20 lifeboats to capacity, they could have carried 1,100 people. but there were more than 2,200 people on the titanic. bill wormstedt: 712 people were saved, so there was a lot of empty spaces. greg daugherty: i believe that lifeboat drills were fairly common on ships in those days. the titanic didn't have one, unfortunately, but was supposed to have one on the 14th, which is the date that it hit the iceberg. for some reason it was called off. tad fitch: it was intended for the crew, and they might have mustered certain crew members on deck and made sure that they knew which lifeboat they were to go to. the most senior surviving officer from the tit

we started the show with fitch downgrading china.setbacks amid rising government debt. fitch is looking at "i" large and diversified economy. >>> shares of alibaba jumping. jack ma expressed his support of the company's restructuring efforts. he praises those who helped make alba be more customer focused. it's been a rare view of ma who's been out of the limelight for the past few years. >>> tsmc's quarter one revenue beats on ai boom. >>> coming up on "worldwide exchange," the one word every investor needs to know today, plus the advice the next guest is offering on fed rate cut expectations and why we may not be out of the woods just yet when it comes to inflation. >>> and coming up tomorrow, "cities of success: denver and bou boulder," that premieres on cnbc tomorrow. we'll be back in a moment. >>> welcome back to "worldwide exchange." it's time now for your w.e.x. wrap-up. apple has assembled $14.5 billion worth of phones in india. they're following amazon and microsoft's lead by skexpandingn florida. they have a smaller office a

>> i think fitch has got it about right.ou have a downward drag especially from the property sector, the economy firing on two cylinders, let's say. exports has been surprisingly strong as well as industrial production. consumption, a bit undercooked, i would say, coming out of the reopening. there are pockets of strength like tourism. so you have this sort of investors, i would say, amgd a disappointing recovery we've seen from china since reopening. that's partly, frankly, because the government has saidwe're not going to go for a big credit stimulus. instead we're going for this restructuring plan that tries to wean away china's dependence on some of the old sectors which require lots of credit, lots of debt. what that means in the interim is that now, sure, even with a bit of fiscal stimulus growth, it's likely to be a little lower. >> been there, done that, don't want to do it again. so what does the chinese government have to do now to mitigate an actual downgrade and how likely do you think an actual downgrade would b

to china now where the ratings agency, fitch, has raised concerns over the country's rising levels of uncertain economic prospects, leading it to downgrade china's soverign credit rating to negative. china's finance ministry said the decision was regrettable and that fitch had failed to recognise beijing's attempts to foster economic growth. the world's second—largest economy has been struggling to recoverfrom the pandemic, and faces rising unemployment and the prospect of mass bankruptcies in its key property sector. janet mui, is head of market analysis at rbc brewin dolphin. she told me, markets have been muted on the news. investors are well aware of the debt issues in china, and i think there's no doubt about its ability to pay the foreign investors' investments. so i don't think it is a big deal. it isjust a reminder of the challenges and risks of the debt issue on the medium—term growth prospects of china. yes, and remind us of that debt issue, because i don't think anyone is really expecting china to default on its debts, but there are concerns about things like property secto

fitch expects china's gdp growth to slow to 4.5% this year.se ministry of finance expressed regret and stated that the agency's assessment methodology does not effectively reflect the real economic situation. it was economic news. short. more than 13,000 residential buildings are flooded; the flood situation in russia remains tense, according to the ministry of emergency situations there are 40 regions in the danger zone. where is the most difficult situation now? 68,700 rub. per square meter, the ministry of construction announced the amount of compensation for lost housing. what other statements were made at the meeting of rek faizulin with residents of the orenburg region. the situation with floods in the tyumen region and the measures taken were monitored by the head of the ministry of emergency situations, alexander kurenkov. our correspondent assessed the situation together with the minister. the president is greeted with protests and spontaneous rallies are taking place in gogauzia. muslims around the world today celebrate one one of th

another thing downgraded is fitch lowering from 1.1% down to .08%.t is interesting you bring in the german bond market we also saw an inflation report out of germany today for the industrial sector and north rhine division what is going on will that impact france? >> when we talk about inflation, it is across the board we got some early evidence of lower inflation in the german states these are the first to report. we got spanish inflation today on the core metrics which was lower than expected at 3%. this is where it gets really interesting especially relative to the u.s inflation, i think at least, is going down across the board on the broad-based basis in most european countries in the u.s., we had questions of the re-acceleration. wit we talked about the fundamentals france will not default. in terms of inflation, you have the disinflation process that continues. ecb is very likely to cut rates in june and beyond this will help the bond market as well. you have from the bond market perspective, a goldilocks situation where growth is strong and in

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact us or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we have robberies in san francisco. we've had properties here oakland. >> berkeley. below that the number of different cities just last month, kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for allegedly stealing the postal people, but also assaulting th

before we go to the state of the economy, what is the feeling when it comes to moody's and fitch andce? what we know is a few weeks _ will announce? what we know is a few weeks ago _ will announce? what we know is a few weeks ago both _ will announce? what we know is a few weeks ago both agencies l a few weeks ago both agencies at a constant message when the fiscal deficit in the figure may predict by the financial institute just remember the figure turns significant higher. 5.6 gdp expected was for .9. and the debt level was 110% from six gdp instead of 109.6. both were significantly higher and both agencies, the outlook looks not so probable. what do you make of the timing of this intervention? would you expecting something like this? actually we have a number of things coming around now with the election and saw a lot of debate on the political situation in france. if you go back to the fiscal situation, what we see is both agencies should say the french public financial situation is deteriorating and this is one of the most deteriorated area with the highest public that, highest

some breaking headlines, fitch revising its outlook on china to negative, affirming its a+ rating.tends with more uncertain economic prospects. advising the outlook on china to negative, and now turning to india's venture. some analysis and investment insight with the managing partner at strike ventures. good to have you with us. give us a sense of what you are seeing in the sector right now. >> thank you so much for having me on bloomberg. the landscape has evolved a lot in the last five years. the total deployments crossed 1.2 billion dollars which was 15% of take over the calendar year 2022. it has been accommodation of multiple factors. one is the education of this asset class. it was not a very well-known asset class. it has been in existence in the u.s. for three decades. over the last five years it has become -- and what should you add not to overlap itself as well. they have realized if they don't at some bit of debt they are unnecessarily diluting themselves. due to a couple of doctors why the asset class -- founders are using it for use cases like financing, capital expen

brian coulter from fitch ratings.weights are gathering over the next few days to re—imagine the world as we know it. one of the biggest tech events of the year, web summit rio, kicks off today and more than 30,000 people will be in attendance. the future of ai is set to be top of the agenda but the war in the middle east is casting a shadow. let's go live to rio now and speak to craig becker — chief events officer at the web summit. did you get much sleep ahead of this or not?— this or not? well it is 130 in the morning _ this or not? well it is 130 in the morning here, - this or not? well it is 130 in the morning here, so - this or not? well it is 130 in the morning here, so we i this or not? well it is 130 in | the morning here, so we are this or not? well it is 130 in i the morning here, so we are a few hours behind you but we are putting in the finishing touches to everything as you said, everything kicks off today, hence my lovely high—viz jacket. we are in good shape and very excited. it’s jacket. we are in good

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact u.s. or contact union city police department because that could be the individuals rob the carrier fitch says in the last 4 years, usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we hae robberies in san francisco. we've had properties here oakland. >> berkeley. that number of different cities. and we've also been seeing this across the country just last month. kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's a $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and con

from stable to negative china's finance minister said it's disappointed by fitch's decision claimantount beijing's moves to improve the quality and efficiency of its government spending. i always laugh when china responds to things about america's pushback and it picks up things of the u.s. is doing everyone's focus on government spending in the u.s. so the answer is about government spending i feel like it's constant mocking. your reaction. >> first of all is good that they downgraded the outlook for china but they are late moody's did this in december and essentially the market is not understanding about the situation in china. we don't know the total country debt to gdp ratio but it's not as people report. it's probably somewhere between three to 50 - 400% which is of great concern. it's because they have hidden debt and because they have been inflating the gdp statistics. when you factor that in china's debt to gdp ratio is at a point of basically unsustainability. everybody knows that but they are not saying it and we need to start saying that because we need to start preparing

the interesting story they have is maybe it's a premium brand like fitch. companies have been outperforming on the earnings and they need to continue to execute. i don't think we need to get caught up in the abercrombie & fitch comparisons. >> the stock goes from 195 to 205, and that's a 52-week high. they met with the executives. >> a encouraging note. food and beverage being a $20 billion business, and up 8 billion since 2019. a good mix of the story is the private label that has been the case. they have 11 brands over a billion each, so they are positioned well and profitability is good and they have to get the top line back, and i thought the skdiscretiona comments were good. >> i think i'm comfortable. if they could see 10 to 1050 in the earnings power. >> let's talk disney. you have the proxy fight and the shareholder vote coming down to the wire. that's on wednesday. the target price gets raised, jimmy, from 130 to 145. >> what if this becomes an execution story? that's not cheap but it's not too expensive if you get the growth rate that supports the

i worked at abercrombie and fitch. >> jimmy: you did? what did you do there?uys. yeah, there's like -- there's one at the grove. there are -- just kind of handsome guys strolling around, right? >> i -- if you say so, yeah. [ laughter ] yeah, yeah. >> jimmy: do they, like -- do you send in a head shot when you apply for the job? because i feel like if i showed up there, they would just go -- >> you're part of the handsome men club. >> jimmy: yes, that's so. that's a blast from the past, that's right. [ cheers and applause ] kind of, yeah. >> i think you'd have no problem working there. >> jimmy: well, i started the handsome men's club. [ laughter ] that's how i got in, yeah. so when you go there and you're working there, do you have to do like the regular jobs? or "no, we'll find ugly people to do those"? the stocking and stuff, the hanging of the things? >> yeah, no, we have to fold -- >> jimmy: oh, no, really? [ laughter ] >> i signed up to just stand there and pout. [ laughter ] no, it's -- it's a hellish place, abercrombie and fitch. [ laughter ] >> jimmy:

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact u.s. or contact. union city police department fitch says in the last 4 years usps.has seen an uptick in mail carrier robberies. it's been all over the bay area. we have robberies in san francisco. we've had properties here oakland. >> berkeley. that the number of different cities just last month kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for allegedly stealing the postal people, but also assaulting the mai

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact u.s. or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we had robberies in san francisco. we've had properties here oakland. >> berkeley. that number of different cities just last month kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's a $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for not only stealing the postal people, but also assaulting the mail ca

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact u.s. or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we had robberies in san francisco. we've had properties here oakland. >> berkeley. that the number of different cities just last month kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's a $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for not only stealing the postal people, but also assaulting the mai

just fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact us or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we had robberies in san francisco. we've had properties here oakland. >> berkeley. that that number of different cities just last month, kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for allegedly stealing the postal people, but also assaulting the mail

jeff fitch is a postal inspector.who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact us or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we had robberies in san francisco. we've had properties here oakland. >> berkeley. number of different cities just last month kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for allegedly stealing the postal people, but also assaulting the mail carrier that could result

jeff fitch is a postal inspector. he says people who live in this union city neighborhood should be on high alert if they see you know. >> 3, 4, weeks, credit card statements or bank statements where there's transaction they did not make. contact u.s. or contact. union city police department fitch says in the last 4 years usps has seen an uptick in mail carrier robberies. it's been all over the bay area. we had robberies in san francisco. we've had properties here oakland. >> berkeley. that number of different cities just last month kron 4 reported on postal worker being robbed in oakland. investigators shared this photo of the suspect who they're still searching for. there's $150,000 reward offered in this case as well. anybody has information that any of these robberies that we publicized contact us at the 24 hour number, the 877-876-2455. >> if the person or people involved in this robbery are caught and convicted, they would face 2 felonies for allegedly stealing the postal people, but also assaulting the mail car

in the latest evaluation of the economic situation of the zionist regime, the fitch credit rating agencyounced: the uncertain future of war is the worst thing that the israeli economy is facing. the palestinian islamic resistance movement, hamas, issued a statement expressing appreciation for nicaragua's complaint against germany in the international court of justice. nicaragua from germany on charges of mesh. participating in the genocide in gaza, supporting the zionist regime and violating the genocide convention and the laws of war in the international court of justice international has filed a complaint. so far, some countries, including south africa, iran and colombia , have complained to the international court of justice against the zionist regime for the crime of genocide and crimes in gaza. spring snowfall in the villages of selmas , after 20 days of spring, snow covered the villages of kohsar district of selmas, west azerbaijan. in some of these villages, the height of snow is about 50 cm . harkian village has also been reported. in serain ardabil , the snowfall caught the resi

fitch cutting china's ratings outlook on growth risks.warn about rising debt and warn the economy hasn't been as strong. >> we'll get to it in more detail i hope at some point but any bigger takeaways. forgetting your time with yellen, that was the main thing, but if you have any sense for what's going on in china? >> that was a peking university p . i was there over the weekend and it was a holiday. it was the tomb sweeping holiday, so people were off work and more people in beijing at the tourist attractions. we went to the some of the malls. my sense -- first of all i loved beijing i hadn't been there before. thought it was a great city. the forbidden city. 7,000 structures. >> so cool. >> really interesting history. they love yellen, as i mentioned many times. >> you mentioned that. >> i think that's pretty unique probably among american policy makers not sure who's coming next on that front. but it doesn't feel weak. felt like people were out and about, going to nike and adidas and lululemon and the gap. amazing to see the brands we

fitch just the second one in history, the first one in 2011. you're still being in from s&p and fitch issued. a warning at that time. and now they have gone and said, okay, we're going to we're going to take action and it's funny because that year, the rumblings everybody's incredibly surprised this. but as you said, we've got debt to gdp on public basis that is exceeded 100%. i think it's almost 125% as we're having a discussion. the imf has put out numbers which to janet yellen, the treasury secretary, has noted previous slave seems to have forgot about them in recent that the debt to gdp reload becomes unwieldy somewhere in the 70 to 80% range as the, you know, many of us would like to see it much lower, but that's the place where it really starts to top out and become a concern. we, the treasury and the cbo has put out many charts and many analysis that has said we're on an unsustainable fiscal path. so the idea that all of a sudden we're waking up and going, oh, wait, you know, the fiscal situation of the united states isn't great, is a li

going to break diplomatic ties with equal no, literally remove the ecuadorian and best that we will go fitch, our investigator, i gave the armed forces instructions today to help bring back our invested up the order to expel mexico's ambassador comes after comments made by lopez over the road, where he drew comparisons between the assassination of ecuador and presidential candidate. and then they'll be since your last year with recent violence that's taken place during mexico's current election season, where several local candidates have been murdered. adding to the tension is the case of former ecuadorian vice president jorge glance who has been evading arrest in mexico's embassy in detail since december of last year. not as has been convicted twice on corruption charges, but argues he's the victim of a political persecution. by echo doors, attorney general, mexico's president says he would be open to bringing the former ecuadorian, vice president to mexico, where he would be granted political asylum. if you little 37, this is the, the amish. if they authorize it, we can bring him, but it h

people in the bond market to get through an enormous amount, we're in the background as well, you have fitch reminding than last year, when they did their downgrade of the united states, one of the reasons they did it is the u.s. fiscal deficit is getting bigger and there is no particular sign it is being raised in, which means there will be even more treasuries coming down the road. it is not like you get through this weekend and get a holiday. there's going to be a lot more bonds for sale in the future. tom: $180 billion in a single week in terms of treasury auctions. that record may not last, may not stand for long, given the fiscal constraints of the u.s. mliv smart cranfield on whether the markets -- mliv's mark cranfield on whether the markets can digest this. we will switch focus now to the test learning story. tesla set to report first quarter results later today. it is going to be huge, a significant set of earnings for tesla. shares down 42% year to date. elon musk making a big bet on autonomous vehicles with the robotaxi taking priority. let's get more with robert lee from bloombe

. >> you know, eunice, this is what fitch was warning about. posed a risk to the chinese economy. you are there on the ground. what is going on with consumer spending? was it slowing after the lunar new year or is something else going on? >> reporter: as we talked about before, people are not confident about the outlook for the economy. in fact, when we have been going to malls, the lines that are the longest are the ones for the lottery because there's so much concern about being able to make money and not being able to find a job. one of the things that the government is trying to do is pushing the consumer trade-in policy which would help to boost demand. i think what is also a factor here is what is happening in your neck of the woods and fed policy. with u.s. inflation figures going higher, the authorities here are that much more limited in being able to loosen policy. the expectation is the policy remains loose and at the same time, the more cuts they make, the more pressure they put on the currency. they don't want to see capital flight.

abercrombie & fitch has been nothing short of spectacular and they have been clever about getting an affordable reformation brand. katie: we talked about it yesterday, the ability to reinvent themselves but bring that to ola plex. is that reinvention possible for a name like ola plex? ann: abercrombie was tainted with controversy around sexual harassment. ola plex had a name about restoring hair. there was a claim that it damaged hair and it's hard to restore trust. i think this will force ola plex into m&a. katie: it comes down to the product and whether it works. i so enjoyed this conversation and i hope i get to see you soon. and barry with thread needle ventures. delta airlines is really popping right now. >> we are seeing strong expectations for a second quarter earning which is helping delta, united and american airlines. this is based on study travel demand. delta has been benefiting from the weakness from domestic travel and strong traditional demand with corporate travel and all of those names benefit from that used a travel. this shares saw a big jump today, delta is the be

chris fitch got hit hard and he's down. mike connely ran into him. fit ch was in a bad spot. >> ainsley: team says he you ruptured a tendon. queen of country dolly parton developing own line of wine. source telling the sun dolly parton is always looking for new ways to reach her oaudience. chil children's books and wine. no word on when the wine will be released. >> steve: after 5:00 p.m. >> ainsley: she will agree to come on "fox and friends" to talk about it and i'm taking my daughter out of school that day. >> steve: your daughter will be designated driver for you. >> ainsley: we'll take a taxi. >> brian: and helping dogs without clothes. get them out fits. they have nothing to wear, you going out like that? some dogs can't say, i have nothing. all right. 92% of voters say economy is most important issue, how will this affect chances, ben dominec on tnext. >> lawrence: i like the way you say his name. >> brian: yeses. hey there. are you looking to grow closer to god? dive deeper into prayer. listen, it doesn't matter if you've never prayed before

we are also keeping an eye on chinese banks on the back of fitch revising its outlook for chinese stateks to negative. securities down by more than 4%. that drop dropping the most since 2021 after the csrc said that it is probing the company. still to come, the new zealand prime minister says he's determined to get his country's books in order. more on his spending priorities, next. keep it here with us. this is bloomberg. ♪ haslinda: welcome back. china markets heading to lunch. chinese stocks recovery stalling so much. csi 2000 index recovering about 5% right now after slumping 11% over a two day time. take a look at where we are good chinese yuan. the fix said it was stable after the pboc loosened its grip on the currency just yesterday. bloomberg has learned that morgan stanley is planning to start cutting about 50 investment banking jobs in the asia-pacific region this week with 80% of the reductions in hong kong. let's get more from jonas bergman. what do we know about this? jonas: as you said, they are planning to cut about 50 jobs in the asia-pacific region. most of them were 80

chris fitch got hit hard, he is down. mike connely got hit hard.todd: timberwolves coach suff suffering serious injury. how this could impact their playoff hopes when "fox and friends" "fox and friends first" rolls along. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. golo is the safe and effective way to lose weight and keep it off. listen, starving yourself isn't the answer. starving makes you lose too much lean muscle. with less muscle, your metabolism slows down and you gain the weight back. with golo, you'll eat real foods and avoid muscle loss, the secret to keeping weight off. you simply take one release capsule with each meal and follow the golo for life plan. golo will help increase your metabolic function, burn fat, and control your appetite. and unlike drastic methods, golo has no major side effects. i really lik

i saw it on fitch. this chart is amazing. folks don't realize, momentum at an all-time high.ere is always reversion to the mean is sort of what we expect on almost any sort of asset, although i hate to see what the mean is here. now that we see momentum stumbling a little bit, what are you anticipating? >> it is important, charles, to kind of understand what is in that momentum portfolio. it is very different than what we saw in '99 and 2000, even though the number was not that high on the chart. today at the core, the stocks in that portfolio are generally highly profitable, they have good balance sheets, they have got generally good free cash flow yields. of course there is speculation at the fringes but in general these are some of the best companies in america that are in that portfolio. so we're not expecting an unwind like we saw post-2000. charles: so would that mean dips are buyable? >> well, i mean it's, a lot of these companies, also largest companies in the s&p 500 as well. charles: right. >> so dips are buyable. i would say what we've been recommending for investo

i don't know if abercrombie and fitch is an a.i. stock all of a sudden, but last i checked, they sell clothing. target is something i think is overvalued. i can't find any stocks in my database that have lower margins, grow more slowly, and are more expensive. >> you would short some of those names? >> i would. i think that this is the least believable sustainable part of the growth story. i'm willing to believe we need more compute with a.i. we need more industrials with electrification. we need more housing. there's things -- i know health care companies can be much more profitable in terms of their productivity. there's things i can dream that might happen six months from now, might happen in five years. what's the dream? i'm going to sell more stuff at target? >> how would you play the consumer, experiential and travel? >> i think you have to be underweight. sure, high-end travel holds in because, you know, the upper 10% are inelastic to hotel pricing and the like. you haven't seen great data out of, you know, the booking compan

fitch has cut its outlook for china's long-term debt from negative to stable. rising economic uncertainties have eroded fiscal buffers. although fitch sees government debt increasing, it affirmed china's a-plus rating. more trouble for bowing. the faa is investigating whistleblower complaints the company took shortcuts to ease production bottlenecks on the 747 dreamliner. the playmaker says the claims are inaccurate and does not represent the work it has done to ensure the safety of the plane. shares of boeing are down this year. scrutiny of manufacturing practices have been building since one of the planes experienced a midair accident early january. jonathan: this comes with a warning. if you are flying with boeing this morning turn the volume down. factory murders measured -- faulty measured gaps that occur when pieces of the 787 are joined together. fatigue can impair the structural integrity of more than 1000 of the wide-body jets it serviced. these allegations are something. lisa: he said he had serious acts of retaliations against him and the previous wh

so as moody's and fitch mention in the report, as he downgraded our credit rating and, and our outlook, we need to do more fra deals the reduce spending, but we need to focus on mandatory programs. by the way, in ten years mandatory spending, or the spending which is on autopilot, goes from under 75% of the total budget of the united states, to 80% or 79%, 9%, almost 80% of the entire budget. so we have a bipartisan fiscal commission, dr. swagel, that would focus on the long-term unfunded liabilities that would address what fitch enmity suggested that we have a long-term plan and that we're both parties at the table to address it. if we can keep doing the fra, modest improvements on the controlling spending on discretionary and get serious about reining in this runaway spending on the mandatory side, we might say this country. we might give jerome powell something to be more confident and sanguine about with respect to america's fiscal future. again, thanks to come. we appreciate your time. and insights. without i yield to my ranking member for as much time as he may consume. >> thank