jay jacobs is head of research and strategy at global x and i assume it is not your job or many peopleyou to say i prefer this or that. from a market perspective, you have to assume outcomes and shift strategies either way. and right now as you look at the scenario two weeks to go, how are you setting up that investing thesis >> there is always unpredictabili unpredictability go back to 2016, i think everyone can agree the trump election was very surprising considering the poll numbers back then and many were caught unprepared for that outcome even though the polls this year are looking like biden and maybe the democrats will sweep the elections, there is still a high likelihood that that isn't the case, that republicans defend the senate or even the presidency so we believe the best way to be positioned is not play into the game to look for the segments of the economy that might do well regardless of this outcome the two areas that we have our eye on, first the internet of things we're seeing great private investment in 5g infrastructure, we're seeing a lot of pressure on verizons and

and jay jacobs from bloomberg tv tweeted that. why? biden has said he wants to debate. makes them look weak. >> i think it's coordinated when the speaker speaks. she says no. so they touched base with the biden camp. my sense is that trump feels that he wants this badly. i would just be really hard on who is actually in that audience. i watched george stephanopoulos, his town hall with the president. they didn't look like undecided voters. i watched anderson cooper's town hall with the vice president. those are basically like the biden family reunion. so he got a lot easier questions. that matters a lot. trump doesn't mind hard questions. mccain used to embrace them. i think the questions sometimes don't have to be so why are you such a terrible person in three minutes or less. >> and the debate commission is on the hook for that. >> they're supposed to give an answer in the next day of what they're suggesting. the mute button to the future president or the current president? that won't fly ever. plus, you can still hear when the person talks. >> dana: also, to your poi

wedbush securities managing director michael pachter and jay jacobs are here to weed through all of thismichael, to you first. what jumped out at you? what do you think was the most significant moments here? >> i think it's theater so the timing of this probably should have been shortly after the 2016 election and possibly again after the 2018 election. when we heard a lot of misinformation and a lot of theoretically others tampering with our elections and posting false narrative, and the senate waited until the week before the election. i'd say probably three or four people on that panel won't be senators in another week. so cory gardner, for sure. it just seemed to me this was positioned to make noise in front of the election to let their constituents know that they're watching out for them and that's fine, i appreciate that the senators are trying to do their jobs, but this is something we should have done years ago. section 230 is a 1996 law. there's no chance in hell that congress considered there would be google, facebook and twitter in 2020 when they wrote that law. so absolutely

jacob had trouble raising money. he had trouble getting alone. people found out he was over extended. not somber temper 18 1873, jayh and company declared bankruptcy. gwen cook went under, it drag down other businesses and railroads and banks with him. a panic hit wall street. you see a picture here. beginning september 20th, the new york stock exchange, which i said was heavily populated by railroad stocks, closed for ten days. over the next two months, 55 railroads went bankrupt. it did not stop there. by 1874, 25% of the nations railroad bonds were in the thought. it wasn't just railroads that were affected. over the following two years, there were over 18,000 business failures. many people, including this cartoonist, clung to the traditional view that ultimately this was a necessary evil. right? failure is part of the capitalist system and so we should see the panic as the cartoonist does, as a sanitation officer cleaning all of the trash out of wall street. and maybe so, but in the meantime, a lot of people had to suffer. in the meantime, railroad construction ground to a halt. unemployment skyrocketed in many