what is middle-class to josh wright?l question is what are middle-class skills? what are skills that get you in middle-class and get you to stay there? the contract in the 20th century is broken now. you cannot graduate from high school and go to a factory worker a graduate of the management. you have to develop skills to work with robots and not just heavy machinery. tom: ohio middle class is different from florida middle-class right? josh: you're talking about upward social mobility and the ability of people who do not come from a a lot of advantages to rise through the ranks. brendan: you don't know it, but you're seeing the chorus to "allentown" by billy joel. tom: whatever out what is, the bottom line is that what he just said is the theme for both parties moving forward. josh: are they going to come out with policies that explain how they're are going to help regular people acquire those? that is to be seen. brendan: let me make a correction. "nebraska" is a springsteen apple. you need to get your agenda. tom: i kn

matt: eric green from td securities and josh wright, thank you to you as well.head on the bloomberg market day, we will hear from mohamed el-erian hear what he thinks the christine lagarde's comments. that is next. ♪ matt: welcome back to bloomberg market day. i am matt miller. i am pimm fox. right to julie hyman with a look at what is moving the markets right now. julie: i wanted to focus on commodities. i also want to point out one of the biggest decliners in the s&p 500 has to do with energy, chesapeake energy. have an analyst saying that it should be a short, the company could become severely distressed over the next 2-4 years and calls that it has any equity value at all. the shares down more than 3% right now. if you look at the bloomberg terminal, you can see the already existing short interest. already a very heavily shorted stock. that short interest now at 24.5% , the third most shorted in the s&p 500. broadly, take a look at crude prices today, because the .ove we are seeing is notable this week crude on pace to snap a record 11-week winning streak, t

josh wright and our team saved the most important new information came from the. dot plot. similar to what was signaled in march. the fed remains data dependent. it appears to be increasingly comfortable that a notion of a modest increase. wasn't that always the plan? projections as low as five basis points. clearly, the market expects the fed to remain fairly tame. >> it was about the dot plot yesterday. there were not any big surprises. the market really focused on where so many of those dots came down. a lot of us were surprised or interested to see that the fed held so firm to its view that is likely to be to rate hikes this year. matt: a good-looking dot plot. i like the forward years. the fed itself will say it doesn't have much faith in such forward guidance. olivia: it looks like battleship. it's in the trajectory of rate rises. more gradual than we previously thought. one thing i want to ask you about -- matt: it's amazing how much janet yellen precipitates this by saying exactly what we are extrapolating now every single time she speaks. josh: a candidate for gett

josh wright joins us now more and away that disrupts is a bad thing and not a good thing. good thing in the long run. in the short run, it changes the way we measure economic activity. they could be new forms of economic activity that current statistics are missing. you think about what is going on with airbnb you are sharing your home and car, but you're taking assets that were formerly purely possessions and now putting them to commercial use. in theory, we should see as much investment in building new hotel rooms and taxicabs. that is the first order effect. in the longer run, that should free up capacity to invest in other acid -- assets. matt: i wonder this -- if this changes the way we measure gdp. are we under or overestimating gdp? josh: we are missing some of the capital expenditures and ways that might grow over time. right now, the sharing economy is estimated at less than .1% of the u.s. economy. that is a very small amount of this point. this activity will only grow over time. one of the things that is interesting as an economist is how this is not just a chall

wright now. >> you know josh has done some very bad things. and he's -- he's very sorry. >> reporter: that doesn't wash for many who watched the duggars tell fox news' megyn kelly how their teenage son molested young girls in their house years ago. among the victims, josh's own sisters. social media lighting up, some voicing support but most slamming the duggars. accusing them of rationalizing the abuse. >> this was not rape or anything like that. this was like touching somebody over their clothes. there were a couple of incidents where he touched them under their clothes. but it was like a few seconds. >> reporter: the parents waited more than a year before they sent their son for counseling and reported it to the police. >> it was after the third time he came to us we really felt like you know what we have done everything we can as parents to handle this in house. we need to get help. >> reporter: but abc news legal analyst dan abrams says the parents may have broken the law by waiting. >> it could have been josh duggar charged with a crime,

we heard from the parents and now two of their daughters molested by son josh are speaking out as well. david wrightet set for round two from the duggars. jill and jessa defending their brother, josh who molested them when they were kids in an interview with fox news channel's megyn kelly, airing tonight at 9:00 the duggar sisters bristle at the idea their brother was a predator. >> i said victims. you fur roed your brow a little bit. do you feel like the victim of a molestation? >> i want to speak up in his defense against people calling him a child molester or a pedophile or a rapist. some people are saying. that is so overboard and a lie, really. i mean people will get mad at me for saying that. but i'm like i can say this. i was one of the victims. >> reporter: the reaction to michelle and jim bob duggar's explanation was taking heat. many lambasteing the parents for appearing to minimize their teenage n's behavior. >> this was not like rape or anything like that. touching people over their clothes. a couple of incidents under their clothes. it was like, a few seconds. >> reporter: on their real

and that josh was a young boy at the time quote, a little too curious about girls. david wrighto with more. good morning, david. >> reporter: this is the first time we have heard, at length, from any of josh duggar's victims. no question that the thoughts and feelings a expressed by these two young women, mothers and soon-to-be mothers themselves adds a whole new dimension to the deeply troubling story. >> i'm sad. this is my older brother who i love a lot. >> reporter: jill duggar dillard and her sister, jessa duggar seewald. never used the word sexual abuse in reference to their older brother, josh. >> he was a boy. a young boy in puberty. and a little too curious about girls. and that got him into some trouble. and he made some bad choices. >> reporter: their interview with megyn kelly aired overnight on the fox news channel. in it they talk about what josh did to them when he was 14 and they were 10 and 12. the two sisters defending their brother. >> people are calling him a child molester or a pedophile or a rapist, some people are saying. i'm like that is so overboard and

wright was charged with encouraging the suspect. >> that was peel williams reporting. the duggars are speaking out for the first time since reports of sexual abuse allegations against their eldest son, josh. the duggers sat down for an exclusive interview. they say when their son was a minor he improperly touched five victims including four of his younger sisters and another person outside of the family. >> 12 years ago we went through one of the most darkest times that our family has ever gone through and our son josh came to us on his own and he was crying and he had just turned 14 and he said that he had actually improperly touched some of our daughters. and it was -- >> we were shocked. we were devastated. i don't think any parent is prepared for a trauma like that. >> the duggars say none of their daughters was aware of what happened saying the girls were asleep at the time. it wasn't until josh admitted to touching one of his very young sisters that the parents sought help outside of the home. >> that same day he just was weeping and shared immediately what he had done and so we were weeping and the little one was like what's wrong? where's -- why is daddy and josh leaving. as we'r

josh, who inappropriately touched five young girls when he was a teenager. these sisters now saying they were two of his victims, and that they're being victimized all over again. abc's david wrightwant to come out and set the record straight. >> reporter: two sisters now coming forward about their family's dark secret. >> he was a boy -- young boy in puberty, and little too curious about girls. >> reporter: speaking to fox news channel's megyn kelly, jill duggar dillard and jessa duggar seewald defended their older brother, josh. >> he made some bad choices, but really, the extent of it was mild inappropriate touching on fully-clothed victims. most of it while girls were sleeping. >> we didn't even know about it until he went and confessed it to my parents. >> reporter: josh was just 14 years old at the time it began, jessa and jill 10 and 12 more than a dozen years ago. now, all grown up. mothers and soon to be mothers themselves. >> my parents came and sat down and told me this, i was like, really? you know, i'm sad, i'm shocked, because this is my older brother, who i love, a lot. it's like, you know, they're conflicting there. >> reporter: those conflicting emotions, very co