that is so ken brown.to talk about it. >> little tongue in cheek. >> we're trying. >> it's not a good business anymore, is it? >> if you look buried in all of these documents is a bunch of financial information about this law firm. what it shows is business is pretty lousy, business of incorporating companies down by two thirds in the last few years. business of issuing bear stock, this old thing if you don't have to register a company, if you physically hold the shares you own the company, down from 6,000 to 170 now. it's a tough business for them. part of it is there's been a big global crackdown. >> it's the age of transparency, can't hide anything any more. >> the banking system has gotten more sophisticated and communicates better and u.s. started to crackdown own terrorism funding after 9/11. and then the global organization has kicked in. it's been very tough. if you're an american who lived overseas, you have to file forms every year. if you don't file them, the penalties are awful. >> that sounds

joining us to explain is ken brown from "the wall street journal."'re going out on a limb here. >> oh, come on. >> let at the put it differently. for years people have been saying it's going to pick up. that hasn't taken place. but why do you sense there's a paradigm shift now? >> first of all, i'm not saying we're going to get big booming inflation. i'm saying this is something investors are missing. this is not priced into the market. a lot of things are priced into the market. earnings are decent and the markets are up, bonds, all that stuff is doing well. inflation is not priced in. there's all this evidence. the reason why inflation was so low the last year or so, the dollar was stronger, commodities were weakening. now what you're seeing is those are over and the labor markets are very tight. all i'm saying is the next 12 months you're probably going to see wage increases that's probably going to feed through to inflation more than the market expects. >> it's plucked from the headlines. we see verizon offering the union a 7.5% wage increase whi

charles: leave it there, senator brown. >> for ken and others, we're not all conservative.re americans first. charles: and lou dobbs is the number one american. he's next. . lou: good evening, everybody. i'm lou dobbs. the moneyed republican elites ramping up efforts to subvert the will of the people and at any cost prevent donald trump from winning the republican nomination. new reports tonight that anti-trump billionaires are pumping millions of dollars into super pacs that are lighting up the airwaves with attack after attack on trump's candidacy, but the republican front-runner just keeps getting stronger in the polls. a brand-new new york one-baruch college poll shows trump with a

the traders telling us the volume is light and i wonder lch to the point ken brown was making yesterday doesn't feel that many people are talking about it or paying attention. am i wrong? >> you're not wrong for sure. there's less attention on this number because it has been so consistent. it's been the same story for so long in this very range, just above 200,000. the unemployment rate ticking up for good reasons, pick going back into the workforce. the firming up of the market throughout the day shows that we've been cleared to think of good economic news as good for time being and modestly good and ism number being above 51 is a big deal too because industrial sector has rallied hard for two or three months in anticipation that that industrial recession might be bottoming. >> how many times have we said caterpillar leading the dow? as they say, never short a dull market or maybe the fact that the number isn't the fixation of the nation anymore means you know, that we've come to a healthier place. >> i think so. i mean, the dialogue of the conversation of the first quarter of the year

ken brown of the wall street journal is back from spending time in hong kong and lived over there and he points out that we are still not over the financial crisis whereas other economies have moved on. >> we still debate what ended the great depression. i mean, what happens with financial crises, there's so many things involved, i appreciate paulson saying he didn't think it was banks, it was policies. we ignore all of the government incentives put in place for mortgages et cetera. did you read jail jail my dime on's letter, we don't do fha loans because they default so much and so expensive, that's a government run program, full of incentives to buy homes and boy oh, boy causes a lot of trouble. >> it does. the current and former heads of e federal reserve converged in new york city last night, a rare event. steve liesman was there. >> the first time three living former and current fed chairs appeared at the same time, call it fed all-star night as janet yellen was joined by her predecessors and they were on stage and alan greenspan joined via satellite. yellen rejecting the charge

brown. >> for ken and others, we're not all conservative. we're americans first. charles: and lou dobbs is the number one american. he's next. . lou: good evening, everybody. i'm lou dobbs. the moneyed republican elites ramping up efforts to subvert the will of the people and at any cost prevent donald trump from winning the republican nomination. new reports tonight that anti-trump billionaires are pumping millions of dollars into super pacs that are lighting up the airwaves with attack after attack on trump's candidacy, but the republican front-runner just keeps getting stronger in the polls. a brand-new new york one-baruch college poll shows trump with a commanding 43-point lead in his home statement one week before new york's primary election. 60% support for trump compared to kasich's 17%, cruz's 14%. we'll take it up with billionaire investor wilbur ross who says if donald trump is the nominee, he will indeed be supporting him. >>> also tonight, the chinese military deploying fighter jets to an island in the south china sea, the subject of claims by a number

the democratic race, plus governor john kasich and a conversation with ken burn beside his new bowmentary on jackie robinson. >> brown: officials are investigating a s at airbase lackland. two handguns were found in the room. the motive is not known. also in texas today air, homeless teenager was arrested for the murder of a freshman at the university of texas in austin. david begnaud is there. >> reporter: police say the figure seen on this surveillance tape is mechaiel crinner. police officials say at 9:38 p.m. sunday night, the suspect followed the victim, who was seen looking down at her cell phone. criner has been charged with the murder of 18-year-old haruka weiser. >> we saw things in the camera that connected him to this crime, and from there, we went and picked him up, and here we are. >> reporter: do you have a confession? >> i'm not going to talk about confessions. >> reporter: the chief insists the murder was random. weiser was last seen on campus sunday night. monday she was reported missing. tuesday her body was found in this creek. thursday police released the surveillance tape. how quickly after the v

ken rogoff coming up. stay with us. ♪ tom: churning and range brown, the forex report. -- and range bound, the forex report against the euro. francine: coming up shortly, it is "bloomberg ." david, what do you have on the show today? david: we have citi earnings coming out on the program. scott minor of guggenheim, and christian omani of oppenheimer. rousseff's possible impeachment in brazil. that is coming up on "bloomberg ." tom: let's talk with ken rogoff about our single best chart. this time is different. this is not in ken rogoff's book. maybe it should be. , to bring upmple the chart here of two decades of work. g7.sed to have real gdp, larry summers talks about secular stagnation. is that what we're looking at in this chart? ken: i think the primary things going on our demographics and the aftermath of the financial crisis. if you use the word secular, i our growth isces fast is as good as -- tom: you have the same optimism as professor gordon? ken: i am much more worried that productivity will be faster than they can handle. francine: as long as we are not in a recession, even if we have s

governor jerry brown is scheduled to travel to los angeles monday when he'll sign legislation raising california's minimum wage to $15 an hour by the year 2022. i asked ken jacobson, chair of the uc berkley labor center how significant is the passage of this wage hike? >> this is a very big deal. when it's all phased in, we estimate 5.6 million californians will receive wage increases as a result of the law, and on average, a 24% increase in their earnings. $3,700 a year. it's a big deal. >> who are these five to six million workers? what's the profile? >> they're breadwinners. 96% are over the age of 20. 37% have children. 55% are latino. on average, they bring home about half their family's income. >> years ago, people were earning minimum wage tended to be kids flipping burgers. that's not the case anymore. >> the profile of low-wage workers in california has really changed over the years. nearly half of low-wage workers have at least some college education, and that's a real change from whatcritics say thi job-killer. what does the data show on this? >> there's lots of good research on the impacts of minimum wage laws, and what we've seen is minimum

brown, charlie chaplain put together. that's what came out in "purple rain." i remember you alluded to a time he gave a private concert. it was -- kennce with beyonce, it would be one of his many great moments on screen, but we got there, he goes do you guys want a private concert before we meet, and we of course said yes. he did, he put two chairs in front of prince and the band, did a whole concert. afterwards he looked at me, looked at me as journalist, you have to sign a release, you can't talk about this ever. i said no, prince, you have to ask me for release before you did the concert. i am now free to talk about it. >> i can't imagine that. incredible experience. david wild, thanks so much. more with david in the next hour. >>> up next, prince's influence in the music world. tributes pouring in for a musical talent from another musical talent gone too soon. ♪ ♪ and can you explain why you recommend synthetic over cedar? "super food?" is that a real thing? it's a great school, but is it the right one for her? is this really any better than the one you got last year? if we consolidate suppliers, what's the savings there? so sho

brown has declared a state of emergency there. kpix 5's cate caugiran on why the town says it need the government to foot the bill. cate. >> reporter: ken, i'm standing in one of the most affluent towns in the east bay and they say they had no choice but to go to sacramento looking for a handout all to fix that massive sinkhole right behind me. moraga's sinkhole has turned into the town's money pit. the estimated cost to fix it, $3.5 million. >> we are still stabilizing it. we are keeping an eye on it. there's going to be upcoming rain so of course we're very conscious of that making sure the runoff is being diverted properly. >> reporter: money is on the way after governor jerry brown declared a state of emergency for contra costa county to help repair last month's storm damage. and moraga says it need it badly. >> this wipes us out. it wipes out every reserve we have. it put us in a position where if anything happens like an earthquake, which could happen. >> reporter: the mayor says the town as reserves are not enough to cover the repair bill thanks to low property taxes. according to the town, moraga's average family income is aroun