now, i think this is a great segment for jack welch, jack welch, if you look at it specially going retire for ge, he had three or four guys, three guys, bob and immelt, they were all strong-willed guys but they all played the team game, okay, he eventually picked immelt over the other two. you didn't see it boil over. neil: you're receiver to go lower levels where promising executives weren't pinned against each other, not like survivor. they were in duels to see who looked promising. front page, i don't know if you still have that. we've already seen one voted off the island here, are we going see more? [laughter] charlie: you know, i don't know. we are in unchartered territory with this white house. never before has, you know, has a white house had, you know, so much at stake which is rebuilding the economy, getting rid of obamacare, have a majority in congress and diverted itself to stupidity like what's going on here and, you know, maybe kelly can put the genie back in the bottle. maybe donald trump likes this sort of stuff and maybe he doesn't take the job serious enough. neil: we sh

the pricing power issue, is this a different pricing power than the one that made jack world's -- jack welchs? >> is dramatically different. the reason for that is, rate of disruption -- let me explain what disruption is. the new business model is being replaced by more efficient models that are technology enabled. you go down the list. the film industry, kodak and polaroid being replaced by the digital phone. retailers being displaced by amazon. uber displacing taxis. it goes on and on. businesses,hat, even if they have a wage pressure, which i think there will be more of a wage pressure in the months ahead, it is harder to pass it on to consumers. consumers have far more choices. traditional business models are being supplanted at a rate i have not seen in my lifetime by new business models that are cheaper and a better value for the consumer. i think that is having a real effect on inflation. tracy: let's dig into that myer.ion data with jaap i want to compare the data on friday with the broader u.s. market. you can see on this chart, it is the essence of the trump trade, which was the si

the pricing power issue, is this a different pricing power battle than the one that made jack welch famousgo? >> it's dramatically different. is the rateor that of disruption -- let me explain what disruption is -- a new business models being replaced by more efficient models that are technology enabled. you go down the list, the film industry, kodak, polaroid being replaced by the just digital phone. retailers of being displaced by amazon and uber is displacing taxi so it was on and on. because of that, even a businesses have wage pressure which i think there will be more in the months i had, it is much harder for them to pass that on to consumers because consumers have far more choices and traditional business models are being supplanted at a rate i buy not seen in my lifetime new business models that are cheaper and better value for the consumer. i think that is having a real effect on inflation. mark: that was the dallas fed president robert kaplan. the u.k. wakes up to the financial reality of brexit. lord chancellor charles falconer talked about this and that's next. this is bloomber

for the pricing power issue, is this a different rising power madee than the one that jack welch?ramatically different. -- newe of disruption business models being replaced by more efficient models that are technology-enabled. you go down the list. the film industry. kodak getting replaced. retailers being displaced by amazon. uber displacing taxis. it goes on and on. because of that, businesses, even if they have wage pressure, which i think there will be more wage pressure in the months ahead, it is harder for them to pass that on to consumers. consumers have far more choices. traditional business models are a rate iplanted at have not seen in my lifetime by new business models that are cheaper and better value for the consumers. tom: robert kaplan joining us from the dallas fed. bloomberg radio and television worldwide. will seell, you say he wage growth. when will he see it? robert: i got to tell you, in my conversations with business leaders throughout the 11th districts and throughout the country, we are already seeing wage pressure for skilled workers. we are now starting t