i think that's the dark horse and a scari thin >> john freeman with cfra research, thank you. >> thank you. >>> now to interest rates. james bullard said today that rate cut may be warranted soon. that's a quote. bullard cited global trade tensions and weak inflation, and manyn wall street seemed to think the interest rate futures market may have already priced in several cuts this year. sm steve lie tells us, the looking at so something far worse. >> reporter: several forecasters are now convinced the u.s.ea economy isd for recession as a result of existing and 24re9end tariffs from the trump administration. citing rising trade protectionism,forecasters responding to a new survey fro the national association of business economics. it's up from 15% this year morgan stanley wrote in a report, quote, if trade tsions contin to escalate, we believe the global cycle will be in recession in three arters. kevin hassett indirectly said the new tariffs would hurt the u.s. economy. >> i can say if folks are tuning up theirodels to wor on it today, i think one of the things you see especially in

joining us now is another analyst who covers alphabet john freeman from cfra and has a buy rating on ock. so, is it that simple, john? some of the parts is worth more than the whole or is there a beautiful synergy when you put them altogether? what would you rather have >> here's the thing. i definitely agree with you. thank you for having me this morning. i agree with needham that some of the parts would definitely be more valuable and break up along the very sort of clean lines with youtube and the search business, but i don't think that regulatory risk is the most likely or the most damaging. i think an intrusive, you know, regulation of google's core search business which represents 80% of its revenue is the more potentially damaging, you know, outcome with really kind of unintended consequences. the reason is because for google and for facebook, as well, they pose a real risk and influence and power now over politicians themselves who are writing this legislation. that was kind of the new sort of also twist from the judiciary committee announcement last week that was, you know, t

stocks, dan ives is managing director at webb bush securities and john freeman, tech analyst at cfra.ing. >> do you think something is going to happen here, that washington is going to do something that will have a material impact on the stocks? >> right now the bark is worse than the bite. the street sees that in terms of the reactions, but it does feel like there's more pressure and the drum rolle is growing from the beltway to big tech. the broader worry it's privacy today, but does it ultimately lead to more doj anti-trust, the next step. right now we think the bark is bigger than the it >>the is the issue that these companies get broken up or that they can't just acquire, they won't be able to acquire anything in the future or that cost of privacy and all of the tools that they have to put in place will be expensive? to the extent there's a discount on the stocks right now, it's a discount for what? >> yes so i think, here's the thing, i think that the different kind of risk that you're seeing now is what is worrying investors and, you know, perhaps sort of inserting a discount i

let's bring in mary anne marsh, former senior advisor to john kerry, james freeman assistant editor ofrial page and lisa boothe senior fellow with the independent women's voice and fox news contributor. good morning to all of you. what is the "wall street journal" saying this morning on this? >> well, we're happy the tariffs are not going in. i think everyone in our economy should be happy. it's good the president took yes for an answer from mexico. this is a country that has already given him a lot of what he wanted on the trade deal and now making meaningful changes to how they enforce their southern border to how they treat migrants seeking asylum in the country. the good news is he is not adding new taxes to american consumers today. >> bill: say something good, mary anne. >> might be hard. i will pick up on what james said. it is a good thing more tariffs weren't put on mexico. look what happened with the tariffs on china. goldman sachs says the brunt of the tariffs have been borne by american consumers and business. interview earlier with california where they are stockpiling mon

freeman. real economic challenges remain, but cultural tourism h been a major factor in the growth. >> well, i don't think it's because of the weather. a>> brown: johnonomist based in melbourne, australia. he first came here in 2001 by accident, and has since returned 22 times. now, he's written a book about its downtown redevelopment, ando lessonother small cities. >> well, you have to have something that you can authentically promote. in this case, it's the blues. >> brown: something real. >> something real. it's n just the music, but certainly the blues, that's one ro the lessons. you got tote it. you've got to get people engaged and, increasingly the clarksdalians themselves are now recognizing what they have here >> brown: you mean they didn't before? >> they grew up with it. they didn't realize that something could be so appealing to people beyond the city limits. >> brown: in a majority-black area, those visitors are overwhelmingly white, as are many of the new businesses-- and akthe challenge here is to sure the benefits are spreaden evly. >> lot of people depend on the festival. >> brown: archie buford is owner of our grandma's house of pan