jeffries: ok. donor state like new york, new jersey, or connecticut regularly send more money to the federal government than we get back in return. is that correct? director mulvaney: i believe that to be true. mr. jeffries: i don't understand how there can be any other distinction as it relates to washington speak that you previously decry when you talk about high tax jurisdictions like new york, new jersey, and connecticut, subsidizing the federal government. we actually receive less regularly from the federal government than we get back in return. new york, a high tax state, generates 9.4% of the federal government's income tax receipts. we receive only 5.6 -- 5.9% of federal spending al blow kated to states -- allocated to states. similarly, a real taker state, states like north dakota, south carolina, alabama, kentucky, west virginia, indiana get more than $2 back in federal spending for every dollar they send to the federal government. isn't that the real donor state-taker state? director mul

jeffries' office and i thank you hakeem jeffries for this testimony. i felt he had a connection with the people and i wanted to know how i could give back in that regard. i don't want to be fearful of not graduating or leaving school because daca ends. fixing daca is important to me because i would not have been able to work if it weren't for daca. because i have a working permit, i'm able to pay for school and be exposed to more things in the u.s. you know, i've been here since a very young age so i don't know very much about st. lucia. i grew up in brooklyn. i know more about brooklyn and i want to stay here. i know that's music to the ears of hakeem jeffries who is always bragging about brooklyn. by the way, so is the emocratic leader in the senate , mr. schumer is always singing the praises of brooklyn. this is from mr. durbin. this is pablo desilva. pablo was brought to the united states from brazil in 2001 when he was 13 years old. he grew up in new jersey. here we are again, new jersey. here's what pablo has to say about his childhood. the same

attorney, preet bharara and congressman hakeem jeffries, a democrat on the judiciary committee. and our correspondents and analyses are all standing by. first, let's go to our justice correspondent, jessica schneider. jessica, you've been poring over this lengthy indictment. what are you learning? >> yeah, wolf, this indictment outlines a detailed scheme where manafort and gates allegedly hid bank accounts, failed to pay taxes on income for more than a decade, and then when that money ran dry, prosecutors say they resorted to bank fraud to secure millions of dollars in real estate loans. these amount to 32 new and additional counts in a different court, in virginia. and it really amps up the prosecution of both manafort and gates and does raise some new questions on whether or not gates may be on the verge of a plea deal. more evidence special counsel robert mueller is not letting up. tonight, cnn has learned a virginia grand jury has returned a new indictment against president trump's former campaign chairman, paul rick gates. there are 32 new charges and they are separate from

david: i do not know if there is a jeffries view.e try to have all of our analyst give their views -- analysts give their views accordingly. haveave do you -- you do straight for the interest rate in the dollar, but we also have -- and we have a fed that is raising rates, but we have a good story line that has developed in europe for the past year, and some decent storylines out there from a valuation perspective in emerging markets. the dollar is a bit of a red herring trade this year. i am in the camp that the dollar cannot all too much, but it might grind a little lower. i think it grinds lower because behind the scenes, we have an administration that really likes a weaker dollar. higher gdpr to hit growth, ander job the s&p 500 with a weak dollar. and if that is how they want to judge themselves, i guess that is how they are. vonnie: david service, chief market strategist -- david zervos, chief market strategist at jefferies. taylor: a string of tweets, the president said he will push for topper background checks and screenings f

i'm joined by david owen from jeffries international i would like to start off by talking about this pmi data. q4 for europe was a strong one it appears as though q1 of this year, the momentum is slowing down do you think that's fair >> it's difficult to read into the surveys. at the moment there's a huge disconnect between the survey evidence and the hard data, and that disconnect has gotten bigger since the financial crisis the market themselves were subjecting this the pmis at the moment were consistent with 1% gdp growth quarter on quarter. q4 came in at 0.6. so we're seeing positive momentum behind the eurozone we think eurozone will surprise. >> so don't read too much into the data points specifically >> yeah. we have the european commission survey next week as well that is a slightly more reliable survey has more history, more detailed. doesn't tend to get such coverage because it comes later in the month that's often a more interesting survey i would highlight the disconnect between surveys and hard data have gotten bigger because the new normal is much lower a reading of 57,

jeffries as a company has been on the curve of that, expecting four rate hikes in the u.s., not three exactly my colleagues in the u.s. have been looking for four rate rises this year out of the fed a focus they saw the balance sheet and shrinking that balance sheet, perhaps even faster than the markets are discounting. potentially the u.s. treasury ten-year getting towards 4% which would impose issues here in europe, because obviously spreads would be widening out. the ecb is heading to the exit i would expect this environment to be raising interest rates >> so let's talk about that ecb expectation. clearly a lot of people expect policy to tighten at some stage, whether that's a rate hike or removing quantitative easing is that your expectation can the fed force that to happen quicker than expected? >> i think the ecb wants to stop buying the bonds everything is still data dependent. if the eurozone carries on to the upside, they'll need inflation to pick up slightly, and stop buying the bonds as early as september they may decide to taper into the fourth quarter but that brings with

thank you, congressman hakeem jeffries. i appreciate it. >> thank you, don. >> the white house chief of staff doubling down tonight on some comments he made about some immigrants who didn't apply for daca protection calling them too lazy to get off their asses. we'll talk about that next. >>> the white house chief of staff john kelly doubling down tonight on comments he made about immigrants who did not apply for daca protections. let's discuss now with journalist maria salinas. a former univision anchor, the host and executive producer of "the real story." good to have you back. thank you so much. you doing okay? >> it's always my pleasure to join you, yes. >> let's talk about the chief of staff, john kelly's comments on daca. here he is. and then we'll talk. >> there are 690,000 official daca registrants. and the president sent over what amounts to be 2 1/2-times that number to 1.8 million. the difference between 690 and 1.8 million were the people would say were too afraid to sign up, others say too lazy to get off asses

thank you, congressman hakeem jeffries.ate it. >> thank you don. >> the white house doubling down son comments he made about some immigrants who didn't apply for daca protection calling them too lazy to get off their asses. we'll talk about that next. there are two types of people in the world. those who fear the future... and those who embrace it. the future is for the unafraid. ♪ ♪ vof hundreds of families, he'se hmost proud of the one the heads he's kept over his own. brand vo: get paid twice as fast with quickbooks smart invoicing. quickbooks. backing you. need a change of scenery? kayak searches hundreds of travel and hotel sites so you can be confident you're getting the perfect hotel at the best price. soak it in. kayak. search one and done. >> the white house chief of staff john kelly doubling down tonight on comments he made about immigrants who did not apply for daca protections. let's discuss now with journalist maria salinas. a former you know i vision anchor, the host and executive producer of the real story. g

. >> to do what he did is incredible and he was an incredible fighter and he beat didn't -- jim jeffries. this is like millions for a black man. at that time, to be paid this kind of money for what you do is incredible. >> i have seen where you have done some fences. >> i did california shakespeare in 2016 and that was another surreal experience of gabriel, based on the angel gabriel. he has half his brain blown out as a world were to veteran and this was an end to -- unbelievable experience to dive into that and become that human being and he felt like he was at the gates with saint peter and he wanted to make sure that his brother, despite having child out of marriage, made it to happen and what an incredible life. >> his veil is viola davis. >> is in viola won the oscar for this. >> she did. august wilson, people always say how do you do august wilson? and you do not do august wilson, he does you, you have to humble yourself and be open because his writing is so deep and spiritual and i had the great pleasures there are -- pleasures to sit with him and have dinner and he was so gracio

he goes after pastor jeffries, specifically. and, look, here they are.h ready to go next. >> a lot of people said i wonder if donald will get the evangelicals? i got the evangelicals. i'm going to make it up to you, too. you watch. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪go your own way copd tries to say, "go this way." i say, "i'll go my own way" with anoro. ♪go your own way once-daily anoro contains two medicines called bronchodilators, that work together to significantly improve lung function all day and all night. anoro is not for asthma . it contains a type of medicine that increases risk of death in people with asthma. the risk is unknown in copd. anoro won't replace rescue inhalers for sudden symptoms and should not be used more than once a day. tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. these may worsen with anoro. call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or ey

david zurbos from jeffries, global investment firm. and robert schiller, co-founder of the case/schiller index. i'll say this in slow motion. you're about to speak to robert schiller. this man was awarded the nobel prize in economics in 2013. so let's turn the volume up and go straight to robert schiller. robert, you said weeks ago that american shares are the most expensive in the world. compared to corporate earnings. when you said that the market was waging on. what's going on now? >> the narrative has been the u.s. stock market is way overpriced. i know that from survey data i've been collecting. so i think people have been expecting, or half expecting a correction. they're wondering if this is it. when they saw the big drops last week, they started to think this is it. that's -- that's the full explanation of what's happening. >> brendan greely, the way you look at this is this simply -- the market was going straight up months and months. there was no correct. people were ignoring volatility. again, betting against volatility when

on communications, who developed a better deal, david cicilline, congresswoman bustos and hakeem jeffries, we have a comprehensive proposal that is transformational for america and what it proposes. what is so exciting about it is it adds addresses the needs of the american people as it thinks very big today as we go forward. the president talks a big act but then he proposes a small bill. a small act of congress. so we have to make sure that we take this message of greatness to the american people. now, just in my own -- across the country, people take surveys of what bothers people, you know one of the issues that looms large is? traffic. traffic. it's a quality of life issue. arrived to take the children to school that should take 15 minutes can take 45 minutes. this doesn't have to be. as has been said by the american society of civil engineers has defined our deficit and infrastructure in the trillions of dollars. when the president proposes a $200 billion proposal over 10 years, $20 billion a year, what could he be thinking? mr. defazio mentioned president eisenhower. when he propos

diplomat jim jeffries says the problem is both poles and israelis view history soley from their own perspective. well look i think what we have here is a clash of nationalisms that obviously the israelis and the jewish people see the events of world war two through the lens of their suffering what happened to them and the people in poland have a somewhat different recollection of it based on their understanding and their suffering in the millions of poles that died during the war and i think this is rather unfortunate that they would be conflicting in this way how they recall things poland and i think i think the main point poland is trying to make is that they were victims of the nazis that they were not these were not polish death camps they were german death camps set up in occupied poland and even though there were obviously there were collaborators among many of the nations of europe of various sorts that poland should not be blamed for the existence of these these camps of about with the latest headlines at the top of the. good things to do something to. put themselves on the line they di

hakim jeffries, thank you very much. appreciate it. >>> so a megamerger.giants. that's next. dial your binge-watching up to eleven. join the un-carrier right now, and get four unlimited lines for only thirty-five bucks each. woah. plus, netflix for the whole family. on us. prrrrrrr... so, they get their shows... let's go, girl! you're gonna love this bit! and you get yours. watch however you want. on your phone, tablet, or tv. for a limited time, get 4 lines for just thirty-five bucks per line, with no extra charges. it's showtime! all on america's best unlimited network, t-mobile. was a success for lastchoicehotels.comign badda book. badda boom. this year, we're taking it up a notch. so in this commercial we see two travelers at a comfort inn with a glow around them, so people watching will be like, "wow, maybe i'll glow too if i book direct at choicehotels.com". who glows? just say, badda book. badda boom. nobody glows. he gets it. always the lowest price, guaranteed. book now at choicehotels.com on the only bed that adjusts on both sides to your ideal c

. >> jeffrie, congratulations cents on your first worlds championship. and bringing home the vince lombardi trophy to the city of philadelphia. >> what a game. what a tremendous moment. as eagles owner jeffrey lurie presented with the vince lombardi trophy. eagles, we cannot say this enough, don't want to stop saying this. super bowl champions, dream come true for the champions and of course the eagles, the eagles got the chance to touch the trophy, as it advances towards the stage, back up quarterback nick foles, yes, super bowl mvp. >> just another game, right, nick? >> just another game. unbelievable. all glover toy god. obviously really like this mike. she has no idea. >> i love little which her ear protection there. eagles refer to themselves as a family other course of the seat. nick's family rid there with him, his daughter lilly as you can see, not quite a year old, and coach pederson was just as happy. >> i got the best players in the world. and it is a resilient group. i love this coaching staff. mr. lurie the owner, and not only do we have the

stockbrokers jeffries isn't too sure.onable. it says the figure ought to be just over 51%. which is why purplebricks shares are down 7% today. london auctioneer christie's says business is looking good. the value of its global sales are up by over a quarter. last year, out of the ten most expensive items sold in the auction world, it sold seven of them — including a world record in new york in november — leonardo da vinci's salvator mundi, a snip at £342.2 million. right. those are the markets. ftse down again, four days in a row. if you look at all the markets around the world, you can compound them together and we are on one of the biggest losing streaks for several yea rs. biggest losing streaks for several years. then again, we come at the end of ten weeks of growth in all those markets. in all the big stock markets. dax moving down again... all taking a breather. if you've beenin all taking a breather. if you've been in the market for the last ten weeks you've done well. maybe this is just to be expected. that's the

goldman sachs and jeffries had a by of a price market.tle disappointed that the company could not provide a long-term rage of operating profit going forward. they have to wait for the cfo to come back with details. they have topline growth in a wait and see to the end of the year. vonnie: taylor riggs with our stock of the hour. thank you for that. comcast is said to be mulling another bid, coming after an initial offer was turned down with a deal with disney. joining us is the bloomberg intelligence director. we got the news comcast had made theyh higher offer than offer that came from disney. how will shareholders react now that this is public? >> they are going to be a very credible bitter. they have -- bidder. rupert murdoch and 21st century fox prefers the disney deal for two reasons. one, they believe it has less regulatory risk than a comcast deal. comcast isn't the most well loved company in washington, d.c., given some of the recent battles. and maybe more importantly, rupert murdoch would prefer to own disney shares here he and

: i'm congressman david cicilline from rhode island and proud to be with cheri bustos and hakeem jeffries. last july democrats launched a bold economic agenda focused on better jobs, better wages for a better future. central to that plan will create good paying jobs by rebuilding our country. we're here today to announce a better deal to rebuild america. the democratic plan to directly invest $1 trillion to rebuild our nation's crumbling infrastructure and create more than 10 million good-paying jobs. in the 20th century america's ingenuity and serious commitment had the best infrastructure imaginable helped propel our economy, created good jobs and made our infrastructure the envy of the world. today, that's no longer the case. our infrastructure ranks behind countries like singapore and the united arab emirates, according to the world economic forum, and according to a report by the american civil engineers, an estimated 56,000 of america's bridges are structurely deficient. but the american people don't need these reports to tell them what they already know about the conditions of our

jeffries was the last questionnaire so we will move back to the other side the gentleman from georgia mr. ferguson the witnesses are your. >> last week asking questions about the accuracy of the scoring and he said that within six years it was at 3% so cbo looks at the

i'll speak with congressman jeffries who serves on the judiciary committee. and our special the i haves are standing by. let's begin with our chief white house correspondent, today's briefing was very heavy on damage control. >> it was. the white house is still in clean-up mode. still answering questions about how one of the top aides, rob port he, could be allowed to work in the west wing despite the back ground check. the press secretary was saying, take my word for it. the president does support victims of domestic abuse. the press secretary avoided the question. a top aide whose history of alleged domestic abuse appears to have been covered up by the white house. >> the president believes everyone should be treated fairly and with due process. we've addressed this situation extensively and we have nothing more to add at this time. >> sanders attempted to explain why the white house did not remove porter from his crucial position handling sensitive documents without a full security clearance. cnn has learned why porter and even the son-in-law jared kushner

communications, who developed a better deal, david cicilline, congresswoman bustos and that keem jeffries, we have a comprehensive proposal that is transformational for america and what it proposes. what is so exciting about it, it adds addresses the needs of the american people as it thinks very big today as we go forward. the president talks a big act but then he proposes a small bill. a small act of congress. so we have to make sure that we take this message of greatness to the american people. now, just in my own -- across the country, people take surveys of what bothers people, you know what one of the issues that looms large is? traffic. traffic. it's a quality of life issue. a ride could take a half hour, 45 minutes. this doesn't have to be. as has been said by the american ciety of civil engineers has defined our deficit in the trial once of dollars. when the president proposes a $200 billion over 10 years, $20 billion a year, what could he be thinking. mr. defazio mentioned president eisenhower. he proposed the interstate highway system, it was a national defense issue connecting

jeffries has upgraded the software customer service uy.pany to a b these are some of the big winners.oday, this is storage company. shares sharply lower down on the day. the storage company posted an outlook that is less than what investors looked for but this is a $56 stock. two years ago it was less than $20. very bullish on shares. he downgraded not so long ago. the $66 price target. he has a great fundamental view there. perhaps this is a buying opportunity. that is cisco systems. shares are popping higher. this after the networking company put up a strong quarter. revenue for the first time up in nine quarters. there was a tax related charge but that is tax related. very bullish outlook. revenue could rise as much as 5% . this story has been about a turnaround. there is a return to growth. and chuck robbins it down. let's take a listen. areas of the different the world we had strong growth in countries like china, india and mexico. the u.s. was reasonably good. asiaw weakness in parts of , particularly those areas that have trading relationships or very reliant on the china econo

latest quarter, let's bring in retail analyst at deutsche bank and daniel bin daniel binder from jeffriesank you for joining us paul, i want to start with you sort of looking at the walmart numbers, the fact the stock is gapping down as dramatically as it is today. are you surprised to see a move like this? >> frankly, given the results today, i think that the stock reaction is directly on point. and the reason for that is that the premium in valuation that walmart atanld ovtained over tht year is due to two factors with sun o one is outperformance based on peer group and the second is the robust growth story around the e-commerce today we saw both slip there are other retailers like target that are outcomping walmart, 2.6% same-store sales growth is a good solid number. but it's no longer an outperformance and 23% e-commerce growth is such a meaningful slowdown versus 50% just a quarter ago. i think that is very difficult for investors to really get a handle on just how walmart is going to very quickly reaccelerate that online growth. >> i'm glad you brought up target i want to dig into

departure may mean for shareholders in that company joining us is david katz, equity analyst at jeffrieslet's cut to the chase do you believe in three years, five years, that wynn as a standalone public company will continue to exist? >> look, i think what we've written about this morning is that there are potentially two tracks, one go forward, and one where they sell the company and we do lean more in the direction that they sell the company, because i think ifyou are in matt maddox's shoes and is he a very competent executive and well thought of, the company lost its visionary and its chief diplomat so the go forward company can be very good it can be very productive and can ultimately be a good stock but it is not likely to get the same kind of valuation that the company has historically and so they'll be forced to compare that with whatever offers may come in, in whole or in part for the company. and that may be the highest and best use at this point in time >> boy, that is really a key man risk, isn't it do you think mr. wynn's departure erases the licensing concerns that have surr

that would be jeffries take on it. we have this space in technology. they have had a dividend.com up at one point sent -- 1%. real estates are a slightly better bid. minister theresa may held an eight hour session in attempts to win unanimous backing for her divorce plan. some andsee keeping breaking away in others. they say what is heard of her plan won't work. the central bank chief is freed on bail and regrets not forcing a hint of a bright in the past. orhas never accepted a bribe been offered one explicitly. guy johnson asked him if he would consider stepping aside. >> they asked me to sit down, you step down. that's it. guy: could you not step down on a temporary ijbasis? >> this is impossible. the shortest is 7-10 years. i have decided that for the moment, if all the terminal charges would not be presented, i have a possibility to protect myself. >> u.s. treasury secretary steve mnuchin says the illustration policies will raise wages without triggering broader inflation. concernedvestors are about rising prices, saying wages can grow without inflation being problematic.

he is over at jeffries. you were the top economist guy at the richmond said. we just heard from brian that they are basically performing as they should be. why then did stocks get so anxious yesterday and why are they unafraid today, at least at this moment. >> i can't pinpoint the timing of why it's become more volatile, but i think when you look down from a big macro perspective, it's understandable because we have countervailing forces going on that we had not seen for quite some time, specifically the fed is gradually moving away from accommodations, basically trying to get the economy off its training wheels, at the same time the fiscal policy is becoming more accommodative. it's not reasonable to expect this is going to be a smooth process, and then of course you also have the new fed chair as well so you know. >> let me stop you there. >> talk about baptism by fire, jay powell's first day he was sworn in yesterday as the new federal reserve chair. he's watching such unbelievable volatility. is there any correlation or is it simply coincidence that on th

and it may be that he understood the question from congressman jeffries to be prior to being hired. since, remember, one of the things that's been a problem here is suggestions that the president asked for example andrew mccabe when interviewing him to the fbi director for whom he had voted in 2016. so i would give rod rosenstein the benefit of the doubt in this case. >> okay. so you are not worried about that. the fbi has said when it comes to this memo they don't want it out, gop, nunes memo, because it admits facts and inaccurate. now i've spoken to a democrat and republican who have seen the memo and background material upon which it is based. they agree that that background material should not be released. obviously do not agree on the nunes memo and whether it's accurate. my question to you, senator, do you think it's possible the fbi does not want this memo or source material out because there was a mistake made at the highest levels in the fbi in the fisa process and russia investigation? >> that's certainly possible. part of vigorous oversight by congress in committees is t

jeffries for his round of questions and then we will take a break. >> thank the distinguished chairman for yielding and your presence and service to the country. let me simply point out that when ronald reagan cut taxes for millionaires and billionaires in the 1980s, it didn't lead to economic growth, it exploded the deficit. and when george bush cut taxes for millionaires and billiona e billionaires in 2001 and 2003, it didn't lead to explosive economic growth, we got the worst economic crisis since the great depression. and when the republican governor and the republican legislature in kansas decreased taxes for millionaires and billionaires in that state, it didn't lead to massive economic growth, it led to overcrowded classrooms, crumbling infrastructure and prison riots. so much so that republicans rolled back their so called tax cut. this notion of trickle down economics has been widely discredited over and over and over again. now miss edleberg, the notion of consumer spending as a result of increased consumer demand, leading to a increase in gdp, is a relatively sound economic

jeffries has already predicted what the outcome shall be. we shall see.olitical consequences to gathering the people in the east wing, hearing the storying, promising actions and knuckling under one more time on nra on what are sensible steps. >> yeah, and i think you are right. statement just released by the national rifle association. a warning to the president who has suggested he's open to new restrictions on the age pour purchasing weapons in the united states. it's certainly a message to the president from the nra. there is more breaking news we are following as the students of stoneman douglas high school demand action. town hall with student. national rival association will be there. thousands of folks already gathering. and breaking news of the russia investigation with the new secret filing in the special counsel's case against two former trump campaign officials. e to sit down for. slow down for. put the phone away, and use a knife and fork for. and with panera catering, it's food worth sharing. panera. food as it should be. and with panera cat

amazing job, but nancy pelosi also needs to put in place a su secession program so that king jeff ridz jeffriesg people in the democratic party have an opportunity to come in and bring in fresh values. i'm a proud democrat from south carolina, but our leadership is old and stale. >> i'm 33 also. >> you're not 33, john. >> i wish i could say i was in that decade. i think the democrats' concern is much more than just having a bunch of people that are older than the norm, it is -- the problem has been for many years is they haven't been able to connect with the people. i think barack obama was someone that had charisma and people connected with him and he was someone that they could relate to. but they have been putting up candidates that didn't have the right message, more focused on women's issues, which are important, but they're not focusing on how they can create jobs and what they can do to help the economy and those are the kind of kitchen table issues that voters out there are concerned with. and until democrats, whether they get someone that is 90 years old or 30 years old, until they gra

this is not the year -- >> there's another note from jeffries which says the top line beat and strengthened direct to consumer and international proved the brand is strong globally. >> they bought those sales >> it's too soon to just, oh, it bottomed because it's having a great day. this is a stock that is down 70% from its 2015 highs going into this report. >> it was at 11. >> 11. >> okay. >> i'm just making the point, it was down -- >> 16 and change, you don't think it bottomed at 11. >> but you're making my point for me stock has been below its 200-day moving average since 2016. we don't know if this is a short-term bottom or the bottom. there was nothing that said there's going to be a huge change in the company's business prospects this year. if we're just debating price, this stock is already, scott, 3% off of today's highs so let's take a look at what that candle says at the close before we all start ripping our clothes off and partying over a stock that dropped 70% and popped 15% >> but no -- >> way early. >> no one is partying, this one is ripping their clothes off. >> speak for yo

jeffries of new york was the last questioner, so, in that case we're going to move back to the other side of the table and the gentleman from georgia, mr. ferguson. the witnesses are yours. >> thank you, mr. chairman and thank each of you for being here. last week with dr. hall, i asked him some questions about the accuracy of the scoring and he said that within six years, it got to 3% and what cbo does, it looks at this, goes back and looks at the numbers and says, okay, six years out we're at 3%. the challenge that i had with that is if we are being asked to make decisions on a 10-year window and yet, we only score a 6-year window. okay? so the first question is why is that? why don't we look at the 10-year window and just, you know, whoever wants to answer this one, and if you could, be brief because i've got a bucket of questions to ask on that. >> so congressman, i think you're referring to our recent outlay accuracy report. >> correct. >> where we looked at the budget year, which was one year, basically a year and a half after the estimate and then we looked at the 6th year. th

the jeffries analyst is raising the prospects of who might want to come in and bye win resorts in part or some assets at a much lower multiple >> i was going to say, before you go, is there any other locations even in vegas or other places where you can see them completely lose their license or revisit that conversation? >> there's some question i spoke to a source last night who says the idea that the nevada gaming control board is the gold standard of regulatory gaming commissions is laughable. but remember they have a brand-new chairwoman, the first time a woman has headed the gaming control board she's been on the job for less than two weeks this is a heavy burden to tackle we'll have to see how they approach taking a way a gaming license from a whole company, a company that provides so many tax dollars and jobs to nevada, it raises a lot of questions. >> what role will he play in this in the future he still has a huge presence in the company, shares. does he just disappear >> so far the details of how he separates from this company have not been released. in fact, other analysts a

alix: jeffries had a note saying there is overheating in germany. thank you so much. lisa abramowicz and michael mckee. treasury secretary mnuchin says you can have your cake and eat it too bank, -- eat it too bank, and jeff gundlach says no dice. this is bloomberg. ♪ taylor: this is bloomberg. general mills adding natural dog and cat food to portfolios. the company has agreed to buy blue buffalo for about eight alien dollars. global food giants have been snapping up makers of natural and organic foods, which have faster growth than mainstream brands. posted its first full-year profit in a decade, but no celebration going on. rbs has not settled an investigation into u.s. securities and they cannot return dividends to sell the british government's majority stake. issued anckard optimistic forecast. are seen as signs that hp's turnaround is starting to work. company announced plans for a billion dollar buyback and plan increase. that is your bloomberg business flash. alix: treasuries secretary mnuchin brushing aside investor worries about raising prices, saying you can

joining us is the david market strategist with jeffries and the chief market strategist with b.ey said there's more volatility to come and what we've seen is the appetizer not the main course. blackrock upgrading their view what do you think, david >> i'm in the blackrock camp the story last week was interesting on the inflation front. the market didn't flow with the inflation scare fed losing control theme and i think that was a big test for the market. it passed the test a lot of negativity we got in the early part of the week were suppressed and we ended up with stocks feeling i think pretty healthy. not as healthy as they were. now it's back to debating rates and supply and some of what will come from the new fed chair. >> art, were we just in a digestion period digesting the notion of a world in which the ten-year yield is closer to 3% than 2% at this point? that would imply -- a lot of strategists would come on and say 3% is the line in the sand in which you question valuations that would imply if 3% is that line in the sand that there's a limited amount of valuation expan

. >> pastor robert jeffries is a faith advisor to president trump. pastor.nk you for coming on this morning. i'm sure you're having a reaction hearing that again. what is it? >> well, look, let's go ahead and say what we all know is true. if joy behar had attacked a devout muslim for his faith abc would have fired her. attacking conservative christians is often open season. why is it that evangelicals supported a secular candidate like donald trump by the largest -- christians want an administration who would respect rather than ridicule their believes. in many ways it was a reaction against these kind of despicable attacks upon people's faith. >> sandra: why do you think they have such a problem with the vice president and his beliefs? >> well, scratch beneath the surface, read what they've said in the past and it is very clear. mike pence has committed the unpardonable sin when it comes to the left and that is he still maintains the personal belief that marriage should be between a man and a woman. and look, everybody don't agree with that perspective. he

seema modi >>> joining me is david, chief strategist at jeffries welcome. you have some tough talking here you say this is handsome dividends for the haters, all this volatility and the selloff last week. is that how you see this playing out here as we enter year nine, almost ten of the bull market? >> we've had so many of these corrections over the last nine years. a lot of times i find myself fighting with the same group of people who have been telling you qe doesn't work, inflation is around the corner and it's going to come to an ugly end it feels like another time where we got a little inflation uptick with the wage data and the payroll numbers. we have fiscal stimulus that's getting everybody a little antsy in terms of are we stimulating at the wrong time in the cycle rates are at 4.1 most importantly, we have a new fed chair we don't know a lot about. i think that's the kicker, is we're trying to figure out who jay powell is, what he's made of and the market is kind of pushing him a little bit they'll learn a lot on the 28th when he has his testimony

jeffries of new york laid out what we need to do. you took on this topic generally and made a proposal. could you tell us about that. mr. cicilline: i want to thank the gentleman for yielding and for your many years extraordinary leadership, not only on make it in america but on the urgency of rebuilding our infrastructure of our country. these two things really intersect because what democrats have proposed is for the frft to be a real partner again -- for the federal government to be a real partner again, rebuild again, which the cities and states can't den their own. we've put together a framework for trillion dollar investment , in rebuilding, roads, bridges, transit systems, schools. and making the investments that will create 16 million good-paying jobs and create a platform to grow our economy, address urgent needs. america yao -- america used to lead the world, we're now behind countries like the united arab emirates and singapore, according to the world economic for rum. as you put up there, the american society of civil eng

analysts from cicc, jeffries, and numeral all value the business between $15 billion or more, and that. haidi: what are the risks for operating in the content space in china? every once in a while you see the regulatory side of things cause problems. >> the two biggest risks at the moment, commercial and regulatory, the main one is you in up against real giants the space, alibaba and tencent believe video is crucial for their business going forward, so they are all pouring huge amounts of money in. by do does not have the cash reserve of its rivals, but needs to compete. the second unseen threat is regulatory, the chinese government could decide that people with tattoos will be stand or women who sit on beds are no longer allowed on streaming videos, so that is a risk of the companies have to bear. haidi: what about some of these moon shots they are working on? >> in the second half of this four we will see level autonomous minibuses that drive themselves get released in mass production come a but we won't see cars that do the same thing until about 2021. haidi: thank you for that. goi

jeffries, your recognized for five minutes. >> thank you, thank you, mr. chd thank you mr. director for your presence here today. i was confused by statement you made in november, so hopefully you can clarify it for me that you stated in defense of the tax bills obliteration of the state and local tax deduction that quote it is simply not fair, not right that the folks who live in low tax jurisdictions are actually subsidizing the folks that live in high tax jurisdiction. did you make that statement? >> yes, several times. >> there are two types of states in this country, donor states and thicker states, correct? >> are but that deals with the receipt and the government, not those who pay in. >> okay. a donor state like new york, new jersey or connecticut regularly send more money to the federal government and we get back in return, correct? >> i believe that to be true. >> i don't understand how there can be any of the distinction as it relates to washington speak that you previously decried. when you talk about high tax jurisdiction like new york, new jersey and connectic

joining us now to talk about stocks is steven desantis, managing director at jeffries, and david joy.avid, i want to start with you, i want to look at broader picture before i dig down on this with steven we are down about 6% off of the highs that we had set earlier this year. there's a lot of back and forth at this point. people who are arguering the two sides of what to do with stocks. where do you come down >> i think stocks will eventually move higher we're struggling now with little resistance at the 50-day moving average. that will sort itself out once we get stronger economic data. there's so much stimulus in the pipeline it will drive economic activity. and that will translate into a strong earnings growth in the first half of the year i think eventually stocks will move higher. maybe as much as 10% from here >> that's because why? because of earnings? because of the new tax law because of what you see in the economy? >> it's all related to earnings. it's driven by all of this stimulus that we're getting from the tax reform act and from the budget deal. earnings growth year ov

diplomat jim jeffries says the problem is both poles and israelis view history solely from their own perspectives. well look i think what we have here is a clash of nationalisms that obviously the israelis and the jewish people see the events of world war two through the lens of their suffering what happened to them and the people in poland have a somewhat different recollection of it based on their understanding and their suffering in the millions of poles that died during the war and i think this is rather unfortunate that they would be conflicting in this way how they recall things poland i think i think the main point poland is trying to make is that they were victims of the nazis that they were not these were not polish death camps they were german death camps set up in occupied poland and even though there were obviously there were collaborators among many of the nations of europe of various sorts that poland should not be blamed for the existence of these these camps. the u.s. justice department has indicted thirteen russian nationals and three companies in connection with all

jeffries was the last questionnaire so we will move back to the other side the gentleman from georgia mr. ferguson the witnesses are your. >> last week asking questions about the accuracy of the scoring and he said that within six years it was at 3% so cbo looks at the numbers to say six years out at 3%. the challenge i have with that if we are to estimate those decisions on the ten year window but we only score a six year window, why is that? why do we look at that ten year window? whoever wants to answer that be brief i have a bucket of questions. >> i thank you are referring to the accuracy report looking at the budget year to year and a half after the estimate the reason we didn't go out ten years because we were looking back to the early '90s. when we were only doing five year estimates he didn't have enough observations. >> that yet we are asked to make decisions with a ten year with no certainty from years 67 or eight but we do look at those observations years number six through ten with the conclusion of the error rates were roughly in line with that 60 years. >> it is importa