joining us now to talk more about that and more is holman jenkins.re are times when i read you also, and i am just nodding. in general holman, i think the only place i ever read the truth are in the "wall street journal" editorial pages. >> we like to think so, yes. >> you can read diametrically opposed things in one leading newspaper and other leading newspaper that are mutually exclusive as to the thought process. i don't know how it works. i guess there is no objective truth in the world anymore. what you say today is interesting. and that is, if we use big data, you would have known this guy -- if we use it effectively you would have known that he bought it. to sit here again talking about -- denying weapons, any weapon from a whole group of people that have no priors is -- they don't even in the democratic votes for that at this point. or at least go ahead and do it if you can. but they probably couldn't, right? >> yeah. this is the third guy who committed a terrorist act on our soil who the fbi was already aware of. big data, you get all kinds

holman jenkins is here. he hopes they're going to see the recent vote as a wakeup call. -weekly column business world and a member of the wsj editorial board. thanks for coming in. so help us here with this. first of all, are you surprised that markets are actually where they are today? that this is almost appears to be like a blip in the world? >> i think it's an overreaction at the time. for the reasons everybody knows. you know, the markets were wrong footed. they thought remain was going to win. the entire british ruling class and political establishment was wrong footed. there was immediate chaos. i don't think it was meant to last. >> and the fear mongering was just that? >> i think there's a lot in europe right now because they wanted this idea that they have to frighten other countries into not leaving. most countries can't do what they did because they're stuck with the euro. a vote to leave would be destroying your savings and having your government default. if you could leave, greece and spain and portugal would have done it already. the idea other countries ar

columnist holman jenkins writes that the western growth crisis will only be tackled when inflation hits and in reading that, it's like, hey, great! inflation! you mean that when inflation hits and we go, wow, this is bad, and we need to actually fix things it won't -- we won't fix things until we get to the next round. >> i am afraid that's true. a political prediction. we are only going to get the momentum and force to address the growth problems if the public is scared by inflation and gofvernment officials that e can't buy goods and services with the money because it won't be there. we'll just get inflation. >> we had jay powell on. is moral hazard the right word for when central bankers -- we stay at zero for so long that there is no cost to debt, so that these things build up. if interest rates do eventually go up, then you say, wow, did i really do that? i can't afford these payments. >> the moral of the central bankers is that we're buying politicians time to act on these growth things like regulation and taxes. instead they're buying them time to stall. >> it enables the -- >> w