frederic: i am not that big of a fan of economic policy. it lasted too long.nomic booster, they create distortions in asset prices. manyuch money chasing too -- chasing to less assets. at fed will raise rates here -- raise rates. we seem to think so in december. money will be available and that's where personally i remain positive. progress scenario of and improvement of the economy in the eurozone. the local commodity price is not that bad. assets this category of will be considered not that expensive. manus: you think they will extend qe in 2016. frederic: maybe a little bit longer. manus: great form. range ofd a broad issues. a great deal of tablets back in 2011 himself. he grasps the issue and message. anna: manus, thank you very much. manus with that exclusive interview with frederic oudea. .et's bring in our next guest great to see you. manus was talking with frederic oudea about the negatives surrounding keeping interest rates low for a very long time in the united states. are we on the verge of an increase in interest rates in the u.s.? >> caught betwe

and a photograph of niagara fallsly lynn davis mayor oring the frederic church paintings. in the dipping room, that's a copy of a thomas cole landscape those woodpeckers are pecking. across the river in thomas cole's bedroom tiny cats created by artist charles ledray. >> all done from businesses around here. some imagined, some real. >> they're miniature. >> they're all made from scratch >> one of steven's painting hangs in thomas cole's parlor. not surprising since cole was a huge inspiration, to him and to many of these artists. >> cole has always been something of a hero of mine. so the idea that i might be able to show here in this house was very exciting. >> artists tom nozkowski paints landscape, yes, these are landscapes. >> i he think abstraction is kind of a tool that allows people to find their own systems and ideas and meanings. i like that freedom. i think it's a real american idea, you know. >> an america idea that make it new. what they were doing 150 years ago when they created a new kind of art that was purely american. >> the big event that these artists w

olana, 250 acres, a landscape frederic church called his greatest masastear piece. including a manmade lake where dan gummer knew he belonged. >> can which pieces were going to go then i started thinking this would look nice here with the water. >> what would church have thought of this show? what would his reaction be? >> i think he would have been thrilled to see it. he lived in the house but he didn't treat it as a museum to ve these things here probably would have delighted him. >> think of it as conversation between the old and the new. or a very lively family reunionon >> osgood: fear not. >> women were not allowed to have passionate 60. erica a ng is still ahead. called the dogist. >> osgood: unzipped of provocative author erica jong. her writing is hat for the faith of heart nor is what she has been known to say as rita driver fofod out. >> most people who review books write book chat i was the happy hooker of literature. >> that lack of respect for her writing still rankles erica jong who in 1973 became a sensation when she published an audacious novel call

highly acclaimed contest is held once every five years in poland's capital. [ ♪ ] >> reporter: frederic'shopin piano concerto in e minor, a winning performance for 21-year-old south korean. >> first of all, i couldn't believe it, now i'm a little worried because - about the future concert. i don't want people disappointed. of course, being a pianist is also good. i want to make good music. >> he outplayed 77 other contestants to sweep the medal and prize. the prestigious competition is named after the 1927 pianist and composure, one of the few contests where pianists play pieces by a single composer. a canadian came in second. the only finalist to select the concerto in f minor. running since 1927, the chopin competition launched the careers of many young classical pianist, opening the doors for them to play at the world's leading concert halls. >>> our website any time you want to access it, it's there for you. aljazeera.com. >>> i'm ali velshi, on target. pills and profit. why a wave of drug price hikes is a prescription for trouble as patient, hospitals and doctors all get squeezed. pl

depreciation is playing with fire a little bit. , we talk frederic about gross gdp.problem underlying everything that china does, debt, and the fact that households are burdened with debt, and that local governments are burdened with huge debt, and that that needs to be fixed yeah go fred: we have seen very growth incredit china. we need to get away from the credit dependency, and therefore you need to address structural reforms. cap keep talking about this, but it is essential to put economy -- the to put the economy on a sustainable growth path. we will see more reforms coming especially with regards to state owned enterprises. that raises the profitability of the sector and helps the economy get away from the debt dependence. watch at the end of this month new reform proposals. we talk about hard numbers and gdp figures, but china wants to be embraced by other world powers. does that filter through what officials in china will do to move the economy and do something much more that is consumer led? china is much more receptive about any suggestion about what to do

some showers and we'll start to see some thunderstorms into frederic and by 8:00 it's already through and the biggest impact on our area will be between 6:00 and 7:00 with a few lines of thunderstorms coming through, producing some gusty winds in terms of how much it could be, in terms of weekend impacts across the area and wat washing the car. wait until sunday and wait until things warm up on sunday and orchard visits as well as hitting some of the apple farms and that will be absolutely perfect weather for playing football this weekend. a look at saturday, sunday, from 65, chilly to 70 with a lot more sunshine on sunday. we'll take a look, too, at your extended forecast with the potential for strong storms across the area tomorrow in just a few minutes. >> all right. >> the situation seems to just go from bad to worse in south carolina. 14 dams have now failed. hundreds of roads are closed and now 17 people confirmed dead from flooding in the state. another two in north carolina have died in the floods and the latest deaths confirmed in south carolina came after the truck drove aro

frederic oudea: i don't think so. we have to see 10 years ahead as businesses toe add value.r is very important. anremain in 10 years important sector. second, it is important to keep an expertise in this sector. for the right financing and structuring. recipe for success going forward, in this volatile world where the end of the day crisis can happen -- who would have predicted the situation in years ago?russia two the concentration of risk. the management of the concentration of risk. portfolio oflanced businesses and avoid over concentration. still with us. tom keene in boston. there's a big difference between the investor impression to china, get in and get out, and the multi-decade approach of what is happening. looking at the business approach they have to take a multi-decade approach. when you listen to the ceos in this world they are more positive about china van and in esther would be with -- about china than an investor would be with a shorter time horizon. , the weekk at china that we have had, and i will tell you the consensus opinion with a longer time horizon is

frederic: i don't think we will see the same thing in the commodity sector. the question is how long will it last? what predicted the decrease, who can predict the increase we might see? the euro andere u.s. should do well into 2016. i don't think there is a systemic element there. banks have built big businesses on commodity businesses. that theoncerned commodity right will have an impact in terms of numbers in 2016? i don't think so. we have two think 10 years ahead. it's an important sector and a global one. second, and what is important is to keep an expertise in these sectors. the major recipe for success going forward in this volatile world where at the end happen --, crisis can you could have predicted this situation in russia two years ago? the management of the concentration of risk -- eat have a balance for your businesses and avoid an over concentration in the sector which means whatever happens, you will not suffer so much and be able to carry on with your business. is the market volatility going to impact your numbers in this quarter? that the on