>> john currence: yeah. >> anthony: is that right?currence? what's going on here? this is the state of mississippi. >> john currence: well, i'm just a feel-good kind of guy. >> anthony: me, too. i've been here only a week. my sentences, they're starting to change already. 'cause it's not just a physical, a rhythm to the speech, but the way i'm organizing my thoughts is starting to change. some of the oxford writers from last night managed to make it out of bed. heads pounding no doubt, filled with the shame and self-loathing surely familiar for writers. but like such greats of the past as malcolm lowry, f. scott fitzgerald, and charles bukowski, they, too, have learned that more alcohol first thing will often make you feel better about the world. particularly if accompanied by freshly baked cornbread, biscuits, pulled pork off that whole hog, sweet jerk chicken, and brisket. hell, i feel better already. >> man: the mississippi that i've received is not the mississippi that i've had in my head. i was surprised on how sold i was off the

john jankowski also joins us. he's a numismatist and currency expert. gentlemen, hello. neil: hey, how are ya, shawn? john: good morning. shawn: very well... so tell us about nevada coin mart. neil: nevada coin mart is the industry leader. all of the buyers are second rate to what it is that i do. no one in las vegas has the technology that i have. i'm a graduate gemologist from gia, i have a $30,000 x-ray spectrometer, i have a $9,000 gia microscope, i have six privacy windows, four privacy booths, one privacy room in one place. i'm a free standing store. you know, when you come in to nevada coin mart, we pay cash for what you have. shawn: absolutely, no checks, and that technology allows you to be able to see the actual value down to the one hundredth of whatever it is. neil: absolutely, when you come to nevada coin mart, and the reason that you're getting more value is because when you come in, you're going to deal with an expert. if you want a coin expert, john's a coin expert for over 50 years. you want a graduate gemologist from gia, not somebody that just says they

the equivalent of millions in today's currency. johny wanted to buy cheap books, read cheap books. >> they fell in love with him. at his desk, a significant portion of his estate came for that trip. it became literate in part because books were cheap. books being cheap helped us develop to be the world power that we are today. that came from the absence of copyright. john: thank you, chris sprigman. >>> coming up, who owns a joke? how do comedians deal with joke stealers? >>> and how do i deal with people who steal my brand? welcome to 20/20, i'm john stossel. >> i'm john stossel. nobody move! get on the floor! do something! oh i'm not a security guard, i'm a security monitor. i only notify people if there is a robbery. there's a robbery. why monitor a problem if you don't fix it? that's why lifelock does more than free credit monitoring to protect you from identity theft. we not only alert you to identity threats, if you have a problem, we'll spend up to a million dollars on lawyers and experts to fix it. lifelock. join starting at $9.

francine: do you worry about currency movements? john: we judge things at constant exchange rates.listed company. clearly the most important exchange rate that our shareholders look at is the pound-dollar exchange rate. over the cycle, we and most shareholders would look through that. clearly you look at events in brazil at the moment, that is not a place where it will be a priority for capital but we will see how things emerge. francine: we have talked about divestments and acquisition targets. will you also sell your stake in penguin random? john: penguin random house is performing exceptionally well. we own 47%. our joint venture partner is bertelsmann and we have an established shareholder agreement. francine: and they are interested? john: we are at a point where as i said we have plenty of capital to deploy at the moment. penguin random house is performing well. we're in the process of combining the two operations in areas like warehousing, distribution, finance, and technology systems. we are probably a year away from achieving the peak synergies. so while it is something th

francine: do you worry about currency movements? johnat, obviously -- we judge things at constant exchange rates. we're a u.k.-listed company. so clearly, probably the most important exchange rate that our shareholders look at is the pound-dollar exchange rate. i think, over the cycle, we and most shareholders would just look through that. clearly, you look at events in youclearly, you look at events in somewhere like brazil at the moment, that is not a place where in the current environment you are in an environment you would like to deploy more capital, but we will see how things emerge over the next year or two. francine: we have talked about divestments and possible acquisition targets. will you also sell your stake in penguin random? john: penguin random house is performing exceptionally well. we own 47% of the business. our joint venture partner there is bertelsmann. we do have an established process in the shareholder agreement. whereby we can put our shares to bertelsmann. francine: and they said they are interested? john: i thin

francine: do you worry about currency movements? john, obviously -- we judge things at constant exchange rates. we're a u.k.-listed company. so clearly, probably the most important exchange rate that our shareholders look at is the pound-dollar exchange rate. i think, over the cycle, we and most shareholders would just look through that. clearly, you look at events in somewhere like brazil at the moment. that is not a place where, in the current environment, you are in an environment you would like to deploy more capital, but we will see how things emerge over the next year or two. francine: john, we have talked about divestments and possible acquisition targets. will you also sell your stake in penguin random? john: penguin random house is performing exceptionally well. we own 47% of the business. our joint venture partner there is bertelsmann. we do have an established process in the shareholder agreement. whereby, we can put our shares to bertelsmann. francine: and they said, they are interested? john: i think we're at a point in the

the equivalent of millions in today's currency. johnto buy cheap books, read cheap books. >> they fell in love with him. at his desk, a significant portion of his estate came for that trip. it became literate in part because books were cheap. books being cheap helped us develop to be the world power that we are today. that came from the absence of copyright. john: thank you, chris sprigman. >>> coming up, who owns a joke? how do comedians deal with joke stealers? >>> and how do i deal with people who steal my brand? welcome to 20/20, i'm john stossel. >> i'm john stossel. hey gabby, how you doing? how was the playdate and sleepover? dad, it was great! awesome! ok, i'm on my way. hey guys! what are you doin'? we're going swimming! we're going biking! yeah! i'll see you in a little bit, guys! i love you! hi babe! how was school today? hi dad, it was great! ok, honey, i'll be home soon. remember, you're never too far away from your kids, to be a dad. reach out and take a second to check in... because sometimes, the smallest moments can hav

. >> here now is neil sackmary of nevada count mart, along with john jankowski, a currency expert. welcome back, gentlemen. how are you? >> very good, very good. >> can you tell us about your shop? >> nevada coin mart is the industry leader. what i want to discuss today is online transparency. if you go and do you a search on google or facebook or yelp or any of the online companies that place reviews, we have real people that have come in the store that place real reviews. we don't do the fake reviews and stuff like this and place stock photos. we are the cash buyers in las yesterday, sunday, we were so busy, we spent so much money because we were buying so many gold coins and diamond rings and everything, nevada coin mart is open 365 days a year, from 9:00 a.m. to 5 p.m. >> you have nothing but professionals when you walk through the door, including john. how are you? >> i hope i'm a professional. >> certainly. let's talk about coins. you've been a coin specialist for a lock time. why is it important to go to somebody like you when it comes to selling or buying bullion. >> right

disruptive, if the government is not scared of a little competition, let's be what these currencies can do. john, max of the wonderful freeman magazine. and coming up next, better ways to learn things. i'm billy, and i quit smoking with chantix. i decided to take chantix to shut everybody else up about me quitting smoking. i was going to give it a try, but i didn't really think it was going to really happen. after one week of chantix, i knew i could quit. along with support, chantix (varenicline) is proven to help people quit smoking. chantix definitely helped reduce my urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. some had seizures while taking chantix. if you have any of these, stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse or of seizures. don't take chantix if you've had a serious allergic or skin reaction to it. if you have these, stop chantix and call your doctor right away as

currency war has been timeless. i would take it in brazil. hit onrtered pound-sterling is john dropping. they are going to shanghai realizing that the mothership has fallen off the cliff. is, governory carney took the inflation report and said he is worried about persistent sterling strength. the central bank did not do the weakness, the currency get it for him. tom: have you ever seen that read the case? jon: that is the budget. that's the chancellor. stephanie: i know they did not get it at bergdorf. tom keene, thank you. sending tom back to surveillance radio. up next, tim cook has weighed in on the apple battle with the fbi as their filing battle gets close. >> coming up, michael sonnenfeld, founder and chairman. right here with me. caroline: this is your bloomberg business flash. fourth-quarter profits fell almost 8%. was hurt by weak demand for phones and tablets. shares fell in premarket trading. deutsche telecom posted earnings that have beaten estimates. in germany, deutsche telekom is trying to slow the loss of traditional fixed line connections. pretty soon, china could be the

it might be better, as you say, john, just to have that currency. >> absolutely.hen you look at all the great technology companies, whether it's netflix or amazon or google, all these companies have had massive trade downs in their stock and gone on to greatness. in a private company, you can never recover from that, because of the employee morale issues, because of the issues the stock struck so low, that even when you refresh, the stocks waiting for liquidity events. >> we'll see how they trade next week. john steinberg, always appreciate it. >>> and stocks taking a trip back in time. the s&p back to levels we first hit in april of 2014. mike santolli is here with us to talk about whether that makes them a good buy. only about, what did you say, 44 times that this has happened? >> yes. >> where is it a good time to buy? >> since 1928, only 44 times have you basically been trading in the s&p 500 at a level that you reached 21 months before. so it's a very specific querrey here. but yes, it has been a good time to buy, historically, of those 44 times. the market w

is it a sectional breakup of currency regions? john: i don't think so.f the things that has happened is they are beneficiaries of some of the drops in oil and commodity prices over recent months. there is a rebalancing of demand and that is why the dollar and the euro have strengthened. sterling has its own story. because of the drop in oil prices, he would say that is a supply driven factor. they should be balancing these economies. sense, their fortunes are bound together. tom: this has been very valuable. thank you so much. the -- we only speak to him when pitchers and catchers return. that is next. we will look at the american economy. futures are up 22. this is bloomberg "surveillance." ♪ francine: we need to tell you what we are watching in the coming days. david cameron will appear before the parliament and make his argument against a brexit. the panda's light of the most since 2010 as investors weigh the possibility. there is a congress in barcelona. , republicans hold their caucuses in nevada where donald trump is continued his -- believed to co

and secretary john connelly at that point put a nice twist on it saying the dollar is our currency and your problem. the expectations were that the dollar would lose credence and nobody would want it. we have been humilitated and it would be replaced by the mark, then the yen, and then the euro. this was during the ben bernanke era creating uncertainty. but the dollar maintained purchasing power and more so on world markets. really the reason the people have faith in the dollar really two reasons. it has friction power in the united states and because it is based in a country where the laws and legal systems are trusted and the transparency, for instance, some people suggested that the chinese currency will be the new reserve currency but no one knows how much chinese currency is out there and no one knows the debts of the banks are. they don't have that transparency. the dollars' strength rest on the strength of the american economy and system and the lack of the gold back hasn't affected that. class carter stegal separated banks from investment banks. that was eroded and done away wi

these are places we think there could be downside on currency and on assets. guy: johnevens, we were mentioning him. they are not worried. they are worried about us. one of the risks they were talking about was the european banking system. they liked my notes saying there wasn't a systemic crisis. a lot of their debt is denominated in euros and dollars. another thing they were talking about was the replacement of the central bank governor. these are things they are worried about. unsustainable growth wasn't on the list. guy: but you look across the skyline, cranes everywhere. ramin: exactly. construction all across the city in istanbul. this might be unsustainable growth in turkey. because it is funded by external debt which may be difficult to roll over once you get a weakening of currencies, if the lira does start to weaken, this will become a real problem. that could be a trigger point for the next crisis after the oil problems we and seeing -- we've been seeing. guy: when you think about what is going to happen in countries like russia, in brazil, john paul smith ta

john quincy adams and joseph henry. no, you all know but it's good to remind ourselves that james smithson gave 100,000 pounds, which translated into $500,000 in u.s. currency and ultimately into 105 sacks of gold. and he said that that money should be used in america for a quote, the increase and diffusion of knowledge among men. and john quincy adams, we have to thank him, and i certainly thank him. i think he is greatly underrated as a president and as a congressperson, too. john quincy adams shepherded that money through, and often resisted and reluctant congress. john c. calhoun wanted to return the money to be to england because it would expand the role of the federal government in the states. and it would also be unwise to take money from a foreigner. [laughter] be once he got it through congress, once he had to persuade congress again to take the money because it fell into the hands, temporarily, of president van buren secretary of the treasury, and he lost most of it in the shady arkansas bond deal. and he had come and now john quincy adams had to get the congress to put pressure on the treasury to restore the money, and that fortunately happen. i

john quincy adams and joseph henry. you'll also but it is good to remind ourselves that he gave 100,000 pounds that translated into a 500,000 of the u.s. currency and ultimately 105 sacks of cold and he said that money should be used in america for the increase and diffusion of knowledge among men. and we have to think john quincy adams he is under rated as the president in and congressperson he shepherded that money through with an often resistant and reluctant congress. calhoun wanted to reach her nominee to england because it would expand the role of the federal government in the state's and also unwise to take money from a foreigner. [laughter] once he got it through congress he had to persuade them again to take the money because it fell into the his temporarily and of president kim purine secretary of the treasury and he lost most of that in the shady arkansas bond deal in the now john quincy adams has to get congress to put pressure of the treasury to restore the money and that is what happened and i especially have to thank joseph henry as a pioneer that we never touch a computer or push a little but an owner selfie owner never even tur

john. >> health care are remain a hot sector. >> valentine's day,old man sax, doing terrible this year. you can still get in on the currency shares eta up 15% this year. >> bye. >> this video that came out from iran, showing the sailors, some crying. what do you make of that? >> i think it's disgusting. i think they're disgusting. secretary kerry should be absolutely shamed. >> donald trump ticked off after iran releases a video of u.s. sailors crying in captivity. after iranians were seen mocking those same soldiers. hello, everyone. jerry women is

john. >> health care are remain a hot sector. >> valentine's day,old man sax, doing terrible this year. you can still get in on the currency shares eta up 15% this year. >> bye. >> this video that came out from iran, showing the sailors, some crying. what do you make of that? >> i think it's disgusting. i think they're disgusting. secretary kerry should be absolutely shamed. >> donald trump ticked off after iran releases a video of u.s. sailors crying in captivity. after iranians were seen mocking those same soldiers. hello, everyone. jerry women is says why aren't we smacking them with new sanctions? also, ben stein and adam lashinski. you saw the bulls and bears guys, jerry, you are here. >> listen, let me tell you. we have to do something. this is a case where i don't think donald trump is wrong at all. we need to reimpose those sanctions. why? not because of the embarrassing pictures. right? we paid $1.7 billion to get four hostages back. this is out of control. this is a country that wants to be the state sponsor of terrorism for the planet. these are bad guys. >> somebody argued they became more emboldened, it was so

kuroda, finding it difficult to debase their currencies amidst the financial market turbulence and the concerns about the global economy? something we last johnklethwait. -- we will ask john micklethwait. betty: he is standing by and you are standing by t -- and what mark carney's game plan is going forward. lagging inflation is the crux of this issue. >> we are setting the drug on inflation from external factors on the short term would involve to rapid and acceleration in domestic costs, one that would risk being unsustainable and generate undesirable volatility and output and employment. considerations, they are sitting inflation to target at around two years and to keep it there. betty: are the walls closing in 2016?rate hike in john micklethwait joining us. john: i can see that mark has cleverly got behind much mature with possible expectations of what it is. andever i say will be wrong prufrock almost immediately by -- market but it feels like proved wrong almost immediately by the market it seems like 2018 or 2017 blood talking about. as mark this problem, said mobile the different central bank governors trying to debase their currencie

and secretary john connelly at that point put a nice twist on it saying the dollar is our currency and your problem. the expectations were that the dollar would lose credence and nobody would want it. we have been humilitated and it would be replaced by the mark, then the yen, and then the euro. this was during the ben bernanke era creating uncertainty. but the dollar maintained purchasing power and more so on world markets. really the reason the people have faith in the dollar really two reasons. it has friction power in the united states and because it is based in a country where the laws and legal systems are trusted and the transparency, for instance, some people suggested that the chinese currency will be the new reserve currency but no one knows how much chinese currency is out there and no one knows the debts of the banks are. they don't have that transparency. the dollars' strength rest on the strength of the american economy and system and the lack of the gold back hasn't affected that. class carter stegal separated banks from investment banks. that was eroded and done away wi

john -- cine: lancey guy: caroline hyde, great stuff. up next, talking about britain's future is playing out in the national currency.becoming weaker and more volatile. we will discuss that next. ♪ guy: and insisting morning for the pound. elation ships with the eu is taking a toll on sterling. joining us now, richard jones. who would've thought boris johnson could have such an effect on the foreign exchange markets. shock, drop indicating rate it is that boris? richard: i think boris is a part of the broader source. even within the cabinet, i think a vast majority of the cabinet will vote to stay in. it is not unanimous. boris is a big figure it you look at the -- the big dashboards is a big figure. hans: richard, i am looking at the pound dollar, pound euro. we are seeing big moves. walk me through the moves. it wasn't priced in last night. is it just more volatility? richard: i think it is a bit of both. volatility has been rising as of late. shameless plug, i wrote a piece of the weekend saying i think that is the big thing that is going to characterize the next four months. sterling volatility will remain high.

john. >> health care are remain a hot sector. >> valentine's day,old man sax, doing terrible this year. you can still get in on the currencys eta up 15% this year. >> bye. >> this video that came out from iran, showing the sailors, some crying. what do you make of that? >> i think it's disgusting. i think they're disgusting. secretary kerry should be absolutely shamed. >> donald trump ticked off after iran releases a video of u.s. sailors crying in captivity. after iranians were seen mocking those same soldiers. hello, everyone. jerry women is says why aren't we smacking them with new sanctions? also, ben stein and adam lashinski. you saw the bulls and bears guys, jerry, you are here. >> listen, let me tell you. we have to do something. this is a case where i don't think donald trump is wrong at all. we need to reimpose those sanctions. why? not because of the embarrassing pictures. right? we paid $1.7 billion to get four hostages back. this is out of control. this is a country that wants to be the state sponsor of terrorism for the planet. these are bad guys. >> somebody argued they became more emboldened, it was so obvio

currency markets. it's interesting we're standing in front of exxon-mobil because john davidson rockefeller said more moneybeen lost by people in properly searching for yields than in all of the bank robberies in human recorded history. >> i love that. >> somebody tell mike santoli that. >> the zero interest rates and negative interest rates cause more overcapacity. >> funny you should mention that. you've been pounding the table on japan for a long time. does this make it more compelling or not? russ loves it right now. >> i love japan. i think they've got the restructuring story and valuation story and growth story. we will see how china opens next week having been closed all week with the lunar new year holiday. japan lives next door to one of the world's great deflationists right now, china. japan needs to step on accelerator as far as structural reform. they've done the monetary and currency. it's strange to me that the yen has been rising after they cut interest rates to negative which they did on january the 28th. the people have been piling into yen as a sort of haven currency like the dollar and l

carl icahn and john paulson may find out now that hey -- now that they have won seats at aig. and the yen soars. japan's currency this in 18 years. we will see what this means for global trade. david: welcome to "bloomberg ." i am david westin. stephanie ruhle will join us later. matt miller is here with me at the desk. matt: thank you very much. helping us kick things off is bill bailey, head of u.s. operations per it also former white house chief of staff, also secretary of commerce at one point.

currency was excessive. >> he had spot in 1957. i assume he got credit of the saint lawrence freeway. he had the farewell address. he wanted to talk about space for a minute. john f. kennedy comes in and he gets this very quickly with alan shepard. we'll put a man on the moon. kennedy got sok involved with space at that time >> he had a great sense of the importance of the american prestige being upheld. he said if there is somebody who can tell me how to put a man on the moon, i do not care who he is, i will back him in full. he was there at the time when some a new nations were created in the late 1950's. sputnik was the prime example of this. it was said that under eisenhower, one effort after another fizzled. thought as kennedy believed that it was conceivable that america could do something that the soviet union had never succeeded in. if the united states did so, it would move ahead of the soviet union. that is in the international family. >> to remember where you were for kennedy's inauguration? were you moved by that taking >> you know, i did not follow that very closely. that he would seize upon an opportunity as the first democrat in the white house s

carl icahn and john paulson may find out now that hey -- now that they have won seats at aig. and the yen soars. japan's currency has not had a week like this in 18 years. we will see what this means for global trade. david: welcome to "bloomberg ." i am david westin. stephanie ruhle will join us later. matt miller is here with me at the desk. matt: thank you very much. helping us kick things off is bill bailey, head of u.s. operations per it also former white house chief of staff, also secretary of commerce at one point. bill cohan also joined us for the hour. we are delighted to have both of you here. kicking us off right now is vonnie quinn. state johnretary of kerry and his russian counterpart agreed on a cease-fire and a meeting in munich. they also agreed to airdrop humanitarian aid to syrian cities. still be planes will able to attack islamic state. in oregon, the last four holdouts in the occupation of the wildlife refuge go before a federal judge today. they surrendered to agents yesterday. now that they are battling one-on-one, more differences between democratic presidential candidates are emergin

currency hedge, digit and index of 17 are sent to redirect dirty. because it is such a bargain. maria: john reserve raised interest rates and now we've got japan negative? >> i mean, the market is concluding this week that no it can't and that is why we see the dollar drop and why we see bond yields go 2%. one other point about negative interest rates. we look a lot of central banks for the explanation for this. when i see interest rates going negative around the world is an insight into human psychology. people are so reluctant to put their capital to work right now that there basically being paid to do it by the rest of the market. that just tells us how skittish the world economy is right now about doing any kind of investment at all. >> i want to take a contrarian view here because the fundamentals of the economy are quite strong on looking at the jobs report. john mentioned earlier the market has been wrong before. back in september about whether the fed would raise rates are not. considering the forecast for 2016 i don't see how they go the entire year without raising rates. i know we

currency. and driving our economy up and our gdp. that's what you guys are about and what we're about. >> okay. john thank you. great to see you.ork msnbc was a media partner at the forum. >> when we come back u.s. stocks rebounding in concert with higher oil prices. we'll talk strategy right after this break. i am the future. i provide for my family. i will use my education to help my community. i will inspire our next generation of leaders. i am a college student, but i am only 1%. only 1% of college students are american indian. donate now, and help our numbers grow. ♪ >>> the dollar tumbles pushing oil higher. speculation growing fed could hold off on another rate huge and rumors about an opec cut. we'll find out if this market is ready for a move higher from tom lee and jason trennert. >> tesla shocked shares 2k0u7b% in a year. with lower gas prices, skepticism is growing on wall street about the company's future. bob lutz joins us with his tesla doomsday scenario. >> knocking on the door step of spring. it's selling season with mortgage rates sitting at three years low despite the fed rate hike. is now the time to lock in

currency columnists. thank you very much for joining us. we appreciate it. i was not expecting to hear that. now this. john we reported a few minutes ago, isis may be using, they have made them and are using chemical weapons. >> he really did not say where and when. they have the ability to make mustard gas. isis spiders can make these and small quantities. they have used chemical weapons in iraq and theory up. this has been exploited into the west. we could be volatile to these attacks. it was a very real threat. they had this ability that is very frightening. >> former cia. you have panic. especially if you release it in various locations. >> difficult to combat as well. look at boeing. it is the biggest drag. the equivalent of taking 15 points off the dow industrials. >> counting practices. how do they come up with the cost and expected sales of these things. getting a closer look. jpmorgan downgrading the stock this morning to a neutral. the slowing sales and production levels. putting it all together. >> so far this year. the stock is already down 18%. six weeks into the year. a company like boeing ha

john. >> absolutely. thank you. >> listen, due to a perverse set of risk-off type scenarios, we are witnessing the dollar really getting tagged pretty good against the yen, and against the euro currencyf the big issues with normalization, of course, is the strength of the dollar. do you see any place for the fed to implement or use some of the current dynamics in policy? or is that just too flexible for an entity so big? >> i think what it says is they should try to continue on this normalization or whatever you call it. it's what they've got to do. they've been reacting to the turbulence in the markets in some sense causing the turbulence. if they take this opportunity to say we've got this strategy to normalize, it's out there, we're going to continue with it, i think that will create some certain certainty and be a good opportunity to do that. chair's going to be testifying the next couple of days. >> there's obviously legislation to try to make the activities in the fed according to some more transparent. maybe rules based. i know we've been down this road many times, john, but don't you think it's time that that occurs, or do you think that the lendl slative issues that congress

suspect this whole notion of a currency devaluation of further pressure what can you knew she rear its ugly head. as far as oil, supply and demand is a very very clear. maria: johnath come yesterday when we try today fact, there is no getting away with the fact she was uncertain about the economy. she could start lowering interest rates. how did you read yesterday's testimony? >> we are in a very strange feedback loop. except he was saying she is concerned about the ability of markets and what that will do to the economy. the markets turn around and say janet dove to his concern sell off even more. it is kind of reverse. on a day like today, we need to remember is some of the things yellen said yesterday. the job market has been improving. if you look beneath, core inflation is pretty stable "-end-quotes after being slow, looks like it's taken a nap before scored her. there is a lot of anxiety. i don't see the kind of fundamentals driving a collapse the way we had into a thousand seven. >> does this feel like 2008? >> no. just back to oil. is it a demand problem or supply problem? china's imports are up 8%. oil imports up by 5%. iran just undercut the saudi's oi