with jim chanos.the elections are over, it appears people are sure to pay attention in europe. we were talking about populism rising on the right. it is not a u.s. contained story. what do you attribute it to? is there an underlying element to it? jim: we may be seeing one of sawe see changes that we going back to 1932, and 1970 with fdr. labor and then the 80, thatcher and reagan. and we solve the breaking of the unions. basically 34 years of the advent of capital over labor. of a was a better part fair market in bonds. street rates wall for 14% in bonds were called certificates of confiscation. this is something that is global. if we are seeing an ad that of the middle class and the lower classes fighting back, income capitalism,, crony then it is a big deal. it is something that you will have to adjust your lifestyle to. scarlet: you made that link. instances of being on democrats, do you think populism leaves too good or bad governance? jim: that will be different. a more populist set of viewpoint

joining us now, towner and president jim chanos. jim, thanks for joining us.ou been on a number of trades on the opposite side of call. [laughter] what's your thoughts about what he had to say about thisreactio? >> well, i think you should listen to carl. it's pretty hard to time the market short term. so longer term i know he's been concerned. we try not to time the market ourselves, and certainly not to political events. gary: as it relates to the rally we've had since the election -- >> yep. gary: in the sense of what the trump administration might do in terms of growing the economy, is the market fundamentals getting ahead of the reality of what could actually be achieved? >> well, one of the things we told clients this week is to step back a little bit in that i'm a lot older than you two, and i remember previous election excitement. and we can go back to '08. we had sort of a "kumbaya" moment, the whole country came together. he was going to dismantle the banks, the market as you recall was going down at that time. we were in the middle of the crisis. it

maria: and we're with jim chanos today. unds like the fed's going to raise rates at the next meeting which is december 14th. do you believe so? >> before we talk about the fed, i should disclose that i sit on a fed committee of outside investors. that said, which means nothing, i have no idea. i assume they will. as the market does. but my views on the fed are probably worth as much as that hat i gave you -- maria: does it matter if they raise? >> i think it's built into the market at point. i think you can assume wherever the fed is on its verbal guidance, that's what's built into the market. they think they're going to go in december and two more times in 2017, so i would suspect that is what the market is expecting, and whether they deviate are that because events conspire to change it, we'll see. but that's pretty sure built into the market at this point. gary: jim, you're a fundamental guy. you make investments primarily on the short side looking at companies that are significantly overvalued. but i know, and we've talk

david: that was jim chanos. president-elect trump, it is also the federal reserve. neel kashkari speaking yesterday at the economic club of new york laid out the plan he promised last february to address the issue of banks that are too big to fail. that gives us our morning must-read. he talked about the balance between safety and economic growth. he said "we cannot make the risk zero and safety is not free."

emily: jim chanos, founder of kynikos associates.ing up, cisco's transition from hardware to network service s provider has hit some speed bumps. this is bloomberg. ♪ inly: cisco shares dropping quarterly earnings. sales and profit that indicate corporate spending on tech infrastructure is slowing. joining me from new york, glenn o'donnell. thank you for joining us. obviously cisco in the midst of a big transition. how would you rate therogress of the transition under the new ceo chuck robbins so far? >> we haven't seen the real results of the full transition yet. a lot is changing at cisco. this is a giant company going through some pretty major changes. i'm not surprised that cisco is having trouble with its earnings and revenue right now. it is a flattening market. compound that with the fact that chuck robbins is changing the company in some pretty dramatic ways. and, he's made some really good progress in making those changes. but it is going to take some time until we see the residual effects of that. where he's going to take t

scarlet: dallas jim chanos. joe weisenthal is here.t populism and how it could actually turn out in a way that is unexpected for investors. people are thinking that donald trump one on population but he could enact population that when benefit the 1%. joe: there is a nation for the way people just look at trying to grab the good news and ignoring be stuff they don't want to see. there was a great headline on politico this morning. and it was like "bankers are thrilled at the dawn of a new trump presidency. and they say oh, this is so exciting. but he hasn't named a treasury secretary yet. and as jim chanos talked about, there are a lot of reasons to think he won't be as friendly towards big finance as people think. so it is an open question. oliver: going into the big bank endorsements, they went to clinton. so they had a relationship where she spoke there but at the same time, among her liberal following, she was vocal and aligned with elizabeth warren, someone stricter on getting on the banks. so maybe the idea that trump also has tw

emily: that was jim chanos.ality is considered by many to be the obama administration's signature policy on tech. remember this is the idea, internet service providers like at&t and verizon cannot create fast and slow lanes for web traffic putting companies like netflix at their mercy. the f.c.c. passed rules prohibiting this but the election of trump has many concerned net neutrality could end up on the chopping block come 2017. he didn't have a clear policy on the issue, trump once tweeted obama's attack on the internet is another top down power grab. net neutrality is the fairness doctrine. we were joined by larry downs is the tech freedom president for a roundtable discussion. >> i don't think that's what is going to happen. that tweet you mentioned was in response to president obama's announcement he wanted to the f.c.c. to turn turn isp's into public utilities. i think the net neutrality rules themselves are not all that controversial. neither congress or the f.c.c. may move them back to the federal trade

charles: jim chanos is a ledge and. watch his show tonight on "wall street week" on fox business. is ready to bring jobs back to america. what else the most american made car? stay tuned, i'll have the answers for you. tweet me, but don't cheat. love or like? naughty or nice? calm or bright? but at bedtime... ...why settle for this? enter sleep number. don't miss the semi-annual sale, going on now. sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! give the gift of amazing sleep. only at a sleep number store, right now save $500 on the queencse mattress with sleepiq technology. hurry, ends sunday. know better sleep with sleep number. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty

we spoke to jim chanos yesterday. >> the combination is absurd. do not know if i can sugarcoat it more. their shareholders have to have their heads examined. emily: what do you think? >> i think he is a little absurd. brush anda very broad it is hard to criticize a man of his stature, but one of the difficulties was the solarcity business model is complex. a lot of the things that are said about it, the capital journal -- draw -- we have already seen the steps going forward to help them get to that point and some of the things that they outlined is an evolution to show investors that they are pivoting at solarcity and there is some technology that can be codeveloped. it is less of a distraction to be under the tesla umbrella rather than elon musk focusing on what they are doing wrong. dealood thing about this is dead we can get back to the main thing, ramping up the tesla model three production. emily: what do we and don't we know about what the new company will look like? reporter: elon musk was to put us all under one roof. so you can buy your m

tomorrow, don't miss it, jim chanos on the fed, the election -- he was a big hillary clinton supporter pending tesla and solar city merger. that's 4:00 wall street time. the growing wealth divide in silicon valley and what we can learn from the nonprofits looking to fix it. this is bloomberg. ♪ cory: twitter making changes to harassmentdeal with and abuse. it has been a top complainers -- top complaint from users and one of the reasons twitter failed to find a buyer a few months back. now users can filter out certain words and there are tools that even block entire conversations. bigme inequality is a driver of u.s. election results and sadly, quietly, the income gap is extreme and the heart of technology, silicon valley. they have 76,000 millionaires and billionaires and many of them are giving great gobs to charity. at the same time, nearly 30% of silicon valley residents rely on public or private assistance to get by. studyst co-authored a that looks at these issues in silicon valley and joins us from san francisco. this is a disturbing report because you have people who have made f

mark: jim chanos there. another event taking place today, separate to janet yellen's testimony.nd chancellor angela merkel, the german chancellor, holding a joint news conference in berlin. angela merkel has said germany will be more engaged with nato purchase said the paris climate treaty would be impossible without obama, and she says she will work on a good cooperation with trump great obama has said that germany's merkel is a great friend and ally. reiterating the need for a smooth brexit. if you want to follow the news conference, follow it. you are watching bloomberg. stay with us. ♪ and newve from london york, i am mark barton with vonnie quinn. this is the european close. time for the bloomberg business flash, a look at some of the business stories in the news right now. housing starts in the u.s. jumped to a night-year high in october. residential starts, 25%. buildingamily home rose indicating that the family home market was on a whole. retail sales in the u.k. last month, increased 1.9%. that was far more than economists expected in october. cooler weather led to more

emily: that was jim chanos.y many to be the obama administrations signature policy on tech. this is the idea that internet service providers like at&t and verizon cannot create fast and slow lanes for web traffic, putting come is like netflix at their mercy. trump hason of donald many industry watchers concerned that net neutrality could end up on the chopping block come twice 17. while he did not have a clear policy platform on the issue, donald trump tweeted in 2014, " obama's attack on the internet is another power grab." we are joined by larry downes for a roundtable discussion. >> i don't think that is what is going to happen. i think a between you mentioned, it was in response to president obama's announcement that he wanted the fcc to turn isps into public utilities. that is part of the ling in 2015 i think will go. i think that neutrality rules themselves and not that controversial. i don't really think they are going anywhere. emily: you think it will remain basically business as usual? businesses usual

charles: jim chanos is a ledge and. watch his show tonight on "wall street week" on fox business.to bring jobs back to america. what else the most american made car? stay tuned, i'll have the stay tuned, i'll have the answers for you. stay tuned, i'll have the answers for you. start your day with the number one choice of dentists. philips sonicare removes significantly more plaque versus oral-b 7000. experience this amazing feel of clean. innovation and you. philips sonicare. save now when you buy philips sonicare. we asked people to write down the things they love to do most on these balloons. travel with my daughter. roller derby. ♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love. prudential. bring your challenges. se world. love or like? naughty or nice? calm or bright? but at bedtime... ...why settle for this? enter sleep number. don't miss the semi-annual sale, going on now. sleepiq technology tells you how you slep

all the questions ahead for a very skeptical jim chanos.s transition team is pushing back against allegations that mr. trump pick as chief white house strategist has a history of website tonews become a platform for anti-somatic and white nationalist -- anti-semitic and white nationalist views. [inaudible] >> fantastic example, someone who embraced diversity at every step. mark: miller describes the process is calm and structured and dismissed anyone making claims to the contrary as "bitter." the general counsel for stephen a.l. nds investment firm has left the trump transition team. o'connor was part of the team assembled by new jersey governor chris christie. o'connor was overseeing staff picks for the justice department. massachusetts senatli

we all do remember what jim chanos was talking about when he was here.e talked about accounting issues that he was raising. but he wasn't taking them off, because you were getting e-mails during the show that day, from alibaba. they were saying, hey, look, we'll invite jim to come to china and visit to see what he's saying is not particularly correct. >> never accept the invitation to a fight you're invited to. a new york post story that said alibaba was cooperating with the s.e.c., the s.e.c. was working -- or the report said that the s.e.c. was working with one or more whistle-blowers as it investigates accounting practices. baba said it is cooperating with the s.e.c. interestingly enough, in part of the s.e.c. -- in the alibaba release, or call, they talked about taking short sellers to court. we sort of talk ed about head t head thing, little fight going on between chanos and joe cy, taking them to court. >> when you hear that type of language, it is like why am i going to get involved in a stock like that? that's been the criticism of a longer insti

jim chanos was on, talking about accounting issues.look at the cloud and you look at the e-commerce and the domestic growth we're seeing right now in china, i think this thing is going higher. giddyup. yeah. >> still ahead, "final trade." stay tuned. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roarout of s. yet another innovation only at a sleep number store. ♪ >>> time for the "final trade." pete.

and people don't talk about solarcity except for jim chanos.talks he says this is the kind of deal you should be up in arms about. david, whatever elon musk does, there's a cohort of people who say i love the car, i got to own the stock. which by the way, just to be fair, a lot of people felt that way about disney at 92, 93. love the theme parks. and citi comes out today and says it too believes -- this is jason, i know you know these guys -- >> i do. >> more than 20 years you've covered media, and i do believe that disney is -- that's a facetious thing because there's a commercial that makes you look fabulous. my dad would call me if he were alive he'd call me and say how come his commercial is so much better than your commercial? >> put me on a billboard -- >> he always has that david faber is very smart. if you did the work -- like that until '92. it was like that when i was in first grade. it's like that in '92. i don't know if you've seen that documentary, i've watched it five times. he has it down. >> as for disney, the earnings were not

jim chanos, his thoughts on china. he has been very cautious. stay with us.reak." good morning. alix steel is on assignment today. it is a seven-day winning streak on the dow after a seven-day losing streak. 500. the s&p switch up the board. treasuries lower. yields up six basis points. the big move on crude yesterday, the biggest in seven months. crude at 45.10. david: here is what we know at this hour. donald trump's efforts to assemble his cabinet may be held up by the transition team. the dollar is rising and bonds are falling as the market expects a new certain rate hike by the federal reserve in december, pricing in a 94% chance for a move next month. oil is falling this

david: that was jim chanos. president-elect trump, it is also the federal reserve.kashkari speaking yesterday at the economic club of new york laid out the plan he promised last february to address the issue of banks that are too big to fail. that gives us our morning must-read. he talked about the balance between safety and economic growth. he said "we cannot make the risk zero and safety is not free." neel kashkari joins us now. welcome back to the program. neel: thank you. great to be here. david: your plan for two big to -- a lot moree equity for banks. we've had an election. does the election of donald that make it more likely that approach could be pursued? neel: i think it might. this is a nonpartisan issue. there are people on both sides of the aisle who think we need to address too big to fail. the biggest banks are bigger than they were before the crisis. there is a 67% chance of another crisis in the next century. administration, the new congress, there is a chance to take a fresh look. we need to go further. ,avid: is part of the deal here detail of back