i'm tom keene with adam johnson and we're thrilled to bring you bring in greeley. -- ringed in greeley. did you have a good weekend? >> yeah, it was world cup heaven. the beauty of the three-day weekend, it always feels like five days. you said the world cup heaven. >> it was like heaven. time --ad a good >> i want to get back there. overnight, germany's industrial output dropped for third output in may amid signs europe's largest economy may be taking a breather as german chancellor angela merkel takes a breather of her own. she is in china, gentlemen. what you think of that? ?ny comments moving on. no economic data in the u.s. no earnings to date here in the u.s. a couple of items of note, in spain, the running of the bulls kicked off -- >> have you done that? . no. that is crazy. on a more serious note come and i did not realize this, today marks the nine year anniversary on london'sombings transportation. >> that was a very big deal. do and after the fourth of july data check. the euro under. stayedh ukraine, subdued. that, 10.32ok at means more complacency. near 111.e let's go to

my partner erik schatzker is off today so we have been in greeley with us -- brendan greeley with us are you a snapshochat user? >> i am not. my abs right here -- >> there is nothing in the world i'm positive i want to delete in 10 seconds, unless -- >> they say there is a use for other things. worth be those things are $10 billion. we have another great guest here for the hour. he worked for hillary clinton in turk --e department and help her combined diplomacy and digital media. now he is at columbia university. we have a lot to cover in the hour, but i am old and cranky -- >> you are not old. old and 20 -- >> slightly younger but crankier. >> do you think is going to change diplomacy? >> if you look back over hundreds of years, it is usually white guys wearing pinstriped suits and red ties talking to other white guys in white shirts and pinstriped shir -- white suits and pinstriped shirts behind closed doors cutting deals. we know longer live in a world -- no longer live in a world where three or four white men behind closed doors can set the course of a nation. citizens have more

i'm tom keene with adam johnson and we're thrilled to bring you bring in greeley. -- ringed in greeleygood weekend? >> yeah, it was world cup heaven. the beauty of the three-day weekend, it always feels like five days. you said the world cup heaven. >> it was like heaven. time --ad a good >> i want to get back there. overnight, germany's industrial output dropped for third output in may amid signs europe'la

brendan greeley doesn't believe in bitcoin, howard ward doesn't believe in bitcoin.never stated -- >> i'm not big into it. >> let's think in a platonically world, thebardie --bitcoin transaction costs would be zero. that is not going to happen. volatility has been very high. it will be high for a long time. when you add on basic services that prevent you from having to hold bitcoin, if you have to traded in, you have to i a kind of insurance, that brings transaction costs up. it is significantly greater than zero. probably also significantly greater than the 2.5 you take mastercard -- a brendan, you talked about great nobel laureate and his analysis of the systems. is this a legitimate system, howard ward? >> time will tell, tom. i am very skeptical. we call it a currency. it is not. >> the irs says -- >> platform -- >> so were tulips in the 70 hundreds. >> may i quote you on that? >> i'm sorry. i wish the people at bitcoin well. but i just don't see this becoming an institutional product for mainstream finance. >> brendan, there is something that people may or may n

there was one starting with horace greeley. the first paper that separate opinion from fact. and then a man named henry watterson, around the turn of the century. after that william allen right from the gazette who was a small-town editor, but an adviser to presidents and wrote for one of the great, great muckraking magazines of the time that and a great editorial reporters. and then a widely known person, a wonderful name. how did you hit the name? everyone in the family was named after states. wisconsin and illinois, they were all named after states. i left the "wall street journal" and came up. he says come i understand you're leaving. will you be in charge of the editorial page? yes. have you ever written an editorial? no. do you know how? no. come on down. went down to the office and we sat and talked. the key to an editorial is this. give the other side's the fact and north side that thought. don't cheat on the facts. lay them out. do not just give one side. as you analyze and look at it and offer opinion, give your side of the thought so that the reader can understand

for more on this, i am joined by "bloomberg businessweek," brendan greeley. >> i think we have reachedboring period in the development of bitcoin, where this libertarian idea where it could replace the fed -- i think the money going into this, the 240 billion dollars in venture capital is not buy into this at all. they are thinking at -- of it as a simple way to lower margins for market transactions. >> that means companies like dell and expedia want to use it because they make more money off of it than if i just use my visa card. >> exactly. bitcoin is assumed to have a transaction cost of zero, and i do not think that is right. the problem is i have to hold bitcoin and you have to hold bitcoin for the transaction cost to be zero. people do not want to take the $100,000olding $100 or in terms of the business in bitcoin. if i do not have the currency, i have to pay for it to send you money. thenat is the cost really, ? >> right now it is number 1%, but we're not even paying the fdic for insurance on bitcoin deposits right now. it is going to climb up. some are it will be a high of 1%,

. >> brendan greeley, thank you so much.hey pay cofounder, tony gallippi, thank you for joining us. ♪ >> i'm emily chang and this is "bloomberg west" streaming on your television, tablet, and at bloomberg.com. we turned back to our wireless serious and one company that is using technology to change the future of transportation is general motors. g.m. is aiming to turn your chevy and buick into why high -- wi-fi hotspots at 2015. cory johnson is back with us. g.m. in particular is a company that wants us not to focus on recalls or problems, but the future and the technology they are trying to put in the cars. it is an interesting challenge for a company that wants to be on the cutting edge while it is dealing with what is going on with the trailing edge. phil joins us right now. what are the killer apps for cars right now coming out of g.m.? for us isler app really about connecting people with their vehicle and bringing people and their digital lives into the vehicle. introducing this year in many of our 2015 model cars is a

ground-based interceptors sitting in silos at vandenberg, and we have another 26 sitting at fort greeleyska. administration and secretary of defense hagel has enough we will grow up to 14 additional ground-based interceptors at fort greeley vitae end of 2017. host: why? guest: that is a question that is discussed among policymakers on the hill and elsewhere. but the original basis for doing this was a concern that north korea and/or iran were interested in pursuing an option that would include nuclear missiles. does not have a nuclear .apability north korea has experimented underground with nagler explosions but does not have an offense of nuclear capability, according to our intelligence services. they have tested ballistic missiles. i would say it is fairly unimpressive to date. but there has been concern, going back a number of years, certainly to the clinton administration forward, that north korea and/or iran were interested in doing this. to add a little bit to that, the clinton administration was interested and, in fact, supported nesting potential ground-based midcourse defense s

these public letters, andrew greeley and the one to hodges in the summer of 1864, those letters were unprecedented attempts by a president to reach the public using media in a way that established lincoln as a great communicator for his age. >> linda, let's start with you. bring us up-to-date. have you seen evidence of modern presidents, president bush and president obama, during this period of war, attempting to manipulate the press in trying to get the policies out, particular about the wars in afghanistan and iraq? then i want to come to tom and kimberly for their reaction to that. >> definitely. george bush and obama wanted their story told. the press has a kind of dance we do with the administration. we want to do this, they want us to do that. most times we are very careful not to buy their line, but to give their line consideration and see if there's truth. margaret sullivan, the ombudsman for "the new york times," wrote last week about when the iraq war was building, "the times" was in the forefront of wmd, weapons of mass destruction. one of their star reporters, judith mill

. >> brendan greeley on football.go. >> we have to bring it back to the twitter question after the break. >> a quick data check. all you need to know, it's flat. >> adam johnson suggesting the markets this morning are flat, as they are. we do welcome you. it has become front and center all of a sudden the major story. how about $76,923.08 per child? as there is republican and democrat rhetoric about our nation's borders, they have all become secondary issues in the heat of summer. has this come out of nowhere for the politician? >> it really has. the interesting thing is that it actually did. we actually started hearing about it in the weeds through the appropriations committee staff about two months ago. they were certain to raise concerns about this, but it was nowhere near a national issue and they had not come near anything of a weeds policy. let's just try to get washington to friday. what will you be listening for as the politicians deal with the fact that these are children? >> that in and of itself makes this

here with us is brendan greeley.good morning. >> good morning. >> let's talk about the last meaning between germany and argentina. >> there's go ways to look at this. either you care about history or don't care. soccer fans get very precious about soccer history. the last two teams have been in the quarterfinals in 2010. many of the same players on both teams played against each other. germany won 4-0. you can say that's the answer we're looking for. however, if you care about history, germany played argentina in the files in 1986. they won. it's hard to scribe how important he is to ar jen tee nachlt he's everything to that country, right? then in 1990 again they played in the finals. germany won this time 1-0. so diego mary dano was the coach. there are many conspiracies he held back lionel messi in 2010 which was argentina's breakout star, possibly the best player in the world, because he didn't want messi to take over. perhaps now messi can do what he's supposed to do. that's if you care about history. >> many lo

horace greeley, carlton watkins, thomas star king and is and nators john conn edward baker. but the person who made them forward, jessie benton fre'mont, is nowhere to be found within the features of the park. this is creantry and a half oversight that -- this is a century and a half oversight that we can correct today by passing h.r. 1192. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from maryland. mr. cummings: mr. speaker, i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. cummings: mr. speaker, h.r. 1192 would designate mammoth peak in yosemite national park as the mount jessie benton fre'mont, to honor jessie fre'mont's role in the early preservation of yosemite valley. jessie fre'mont was enchanted by the beauty of yosemite valley and lobbied for its protection. her efforts led to the passage of the yosemite grant and ultimately the creation of the yosemite national park. not only did she work to permanently protect the yosemite valley, many ame