head of macro strategy. >> let's take a look at top stories at this hour.analyst is prediking apple will hit $1 trillion market cap within 12 months. he cites the launch of the apple potential for an electric car. the stock price at around $127 values the pane at around $744 billion. quite the call here. >> i think of interest to me on that note is particularly what he is saying the growth in china. so far apple in china has been a very high end product but as we see upgrades coming through it's starting to grow more and they have a great relationship with china mobile. he didn't site apple tv going forward. >> and the watch also he mentioned which will be the interest of a new product in five years for apple. >> absolutely. so $1 trillion still a long way away but we start to get bullish calls and tie them to the big types of headlines. now facebook has been in talks with several media companies about hosting their content inside the social network as opposed to he redirecting users to an external website. facebook plans to start testing the new for matmat

if you look at macro and the way will focus on macro, we have done well.r of underlying areas that performed well. we made a strategic shift to focus on client businesses and that is working for us. >> manus cranny joins us now and a bloomberg report, richard. richard, you look at the results that beat and all of the other news that looks good. then you see this big, big provision of $750 million, is in negative this morning? >> and certainly is. this weight of litigation and estimates from morgan stanley, for example 45 .4 billion pounds more for barclays. -- for 5.4 billion pounds more for barclays. the ceos said they would come hopefully and in the next couple of months but he doesn't have clarity. it is in the regulators' court pretty he has to play by their game. investors will like to see coming back ideally. >> it is like sitting in front of dugan at credit suisse. heavy set aside enough money -- have you set aside enough money? they can't give you another month -- they can give you the answer, can they? >> i have had this book is the regulators go

take a look at the macro picture ov overall, crude oil getting a bounce back today above $46 a barrel2 to the upside nearly 5%. gold prices up about a percent today as well. we'll watch that trade happen and the dollar index in a rare move we see a down arrow for the dollar down by about 1.25% to 9795. again, below that 100 mark interesting right now we'll see a bit of reversion to that trade that we -- the trend we've seen over the last few days. back over to you. >> crude higher. one of the reasons we see stocks moving higher. we want to get all the traders on what's going on with the market but first breaking news from steve liesman. >> thanks very much. atlanta it fed president dennis lockhart saying that a liftoff in the june, july, september meetings are under serious consideration, these were comments that he made to reporters following a speech in georgia this morning. he is also saying the dollar represents a growing but still modest concern. he sees growth in the 2.5 to 3% range. context on lockhart. a r centrist followed closely because of that. not a hawk or dove. he has t

cyprus is really a set of the macro in a very small economy.f qe can make a difference because of the small open economy. qe is designed to take government assets off the balance sheets of investors and forced them into slightly riskier assets to encourage lending. i think the world is over borrowed, we have seen leverage the lot across the world in seven years and we have an issue in terms of the amount of debt during but the entirety of the world given the level of qe, government expenditure and government deficits, it is manifesting itself in a huge debt pile. >> before looking at the bond you have a third of the eurozone with -- what does that mean for the banking system across the eurozone? >> i think the world and the economies of europe are generally over borrowed. we have to find new way of doing things we probably have to go for extended tenors on mortgages and larger balloons in the end. we have to start looking at new things. when the same things faster and doing more of the same things is not proving to be resolving this crisis and

reforms take a bit of time in macro. it doesn't wait for the effects to play is self out. and consolidation of banking sector, an important point. they desperately need to consolidate. a major credit crunch, qe will not work out currently unless the banking sector is back in place and can start lending. jonathan: you are hopeful they will do it? joseph oughourlian: i think so. i think they will do it in the coming months. the effect of qe is incredibly powerful. the lowest it has ever been. the incentive for banks is quite strong to start lending again. jonathan: stay with us. after the break, we will talk about political risk. london house prices. we take a look if the upcoming vote has investors spooked. the ftse 100 is a little higher. you have big moves and standard life. we talk about that after the break. ♪ jonathan: good morning. jonathan ferro i am. -- i am jonathan ferro. some stock movers. h&m shares up after it beat estimates. 15% higher in local currency. holcim in focus. they said they are willing to revisit -- they point out no other aspects of the deal will

most of these big macro events don't mean a lot to sales and profitability of companies.es stock prices. >> hang on. scarlet, you have jim numbers. >> along with the rest of the carmakers, they are reporting disappointing sales. an increase of 4.2%, an analyst for looking for 5.9 percent. chrysler had a smaller increase in anticipated. maybe the falling gas prices did not push people to the showroom to buy more cars. they did prompt people to buy more gas guzzling cars, but not cars overall. >> it's just going to affect the mix. we see that in higher-margin suv's. gm makes a lot and ford makes a lot more on an f150 than they do on a small car. >> that is going to hurt the euro. that pushes the dollar higher. that does impact companies especially the tech center. microsoft says they are having issues. >> it is fairly quickly reflected in prices. we see it in the sales numbers of companies and that gets reflected in their earnings. if you think the average person or a professional can game -- this is what happens and how much of it hasn't shown up in the bottom line, that i

dean curnutt joins us from macro risk advisors. ♪ tom: good morning. bloomberg "surveillance."g from new york city. olivia: ted cruz throwing his hat in the presidential ring. the first major candidate to enter the race for 1600 pennsylvania avenue. cruz made his announcement on twitter. he will launch his campaign at liberty university in virginia. singapore morning the death of its first elected prime minister. lee kuan yew served 31 years and turned the state into one of asia's most prosperous countries. he was 91 years old. a you and officials said -- a u.n. official says yemen is on the brink of civil war. shiite rebels seized the third-largest city, they already control the capital. all u.s. military personnel are evacuated. the rush is on to visit cuba. a sense of urgency before mcdonald's invades havana. the company saw an increase in january. 600,000 u.s. travelers estimated to visit cuba every year. cuban officials estimate that would arise to 1.5 million if all restrictions were removed. regulators have questions for nissan. the automaker recalled almost one million

. >> obviously we have the macro view of what is going on in texas, it feels there's a larger macro view in terms of new regulation on fracking this week, we have neutrality coming out what does it say to you and how fearful are you that the administration is starting to ing toing to circumvent the law and takes things into action. >> that's our concern. the fact he's going around congress violating federal law and going around the constitution is actually our biggest concern. you mentioned many of the issues we're concerned about. in is just one example. this is really the reason we filed this lawsuit to stop the president from going outside his constitutional duty because if he can do it on this issue, which some agree with some don't, he can do it on any issue and then you basically make congress irrelevant. >> well thank you very much for your time attorney general from great state of texas. appreciate sir. >> yeah, thanks for having me. >>> over now to the middle east and i call for healing from israel's president saying the newly formed government will work for every israeli citize

and how about the public sort of the public hearing would it make sense to combine them so that your macro the record not only for say the candidates controlled committees but other regulations your got on the priority list. >> well. >> is doable do you think. >> with respect to the report issues i think we want feedback in terms of what is most valuable to the public how guidance works with the regulation and that sort of thing with this really and also with the prop j we're talking about you know some important constitutional issues i'll be worried about sort of giving them a short trip if everything is combined together. >> any other questions or comments from the commissioners? i echo commissioner keane's st

you look at macros the way we have refocused our macro business. a number of underlying areas in investment banks are performing very well. >> it is so passe. it is all about declines. that's how i would sum it up. he is reshaping the investment bank. he is matching -- clients on one side to clients on the other side and not carry too much inventory. heavy bonds. trying to reshape and recrop what it is they do within the investment bank. i'm not a mathematician but it takes heck of a job to get from 2.7% up to 12% and they said they were well ahead in the first quarter and they are not planning any further job cuts as it stands. >> thank you. the very latest on barclays. >> the world's currency is focused on general eve i've today. bloomberg is there as well. -- geneva today. our man on the ground our petrol head of the day, hans nichols. who have you spoken to so far? >> well, with spoke to a lot of c.e.o.s, guy. i'll tell you who i haven't spoken to. some of the scantily clad models draped over some of the automobiles here. i can't find a reason

>> when you look at the dollar not good for earnings but from a macro perspective it is being hurt. >> yes. international developments do matter so they watch this but globally i believe it's better but it's something holding back growth marginally. >> we were discussing today's moves in the market and people here discussing the moves saying that it basically looks like the market is expecting the fed to go later, maybe because of the strong move on the dollar. is that the wrong interpretation of what the fed should do here? >> i think it's exactly the right interpretation. now whether this is a enough of a move of the dollar is another question. you're absolutely right, a stronger dollar puts downward pressure on prices. what is interesting is the decline in the oil prices pushed down headline inflation into the negative territory and we're going to see the effect of the dollar on the core measure of inflation which is what the fed watches the most. we'll hear more about this next week of course but whether to go in june or later month, the stronger dollar lines up in favor of moving

and how about the public sort of the public hearing would it make sense to combine them so that your macro the record not only for say the candidates controlled committees but other regulations your got on the priority list. >> well. >> is doable do you think. >> with respect to the report issues i think we want feedback in terms of what is most valuable to the public how guidance works with the regulation and that sort of thing with this really and also with the prop j we're talking about you know some important constitutional issues i'll be worried about sort of giving them a short trip if everything is combined together. >> any other questions or comments from the commissioners? i echo commissioner keane's statement it is well done and helpful and seeing where we need to go one suggestion that i have is i know we don't have a formal committee on this commission but to the extent commissioners want to participate hopefully that will be welcomed by the staff i for example have those enforcement regulations have been near and dear to my heart maybe other commissioners you can reach out to

. >> so you've been macro history the o showncy dam we have a lot of mayors that were irish the firstyou know what our mayor is still making history everyday and our mayor was in cork and the grand mary of the st. patrick's day prayed in cork (clapping.) i don't know how many people have a river named after them in ireland but the lee river so this is our mayor ed on the other hand lee. >> (laughter). >> o insuring thank you for being the best protocol over in the city of san francisco yes (clapping.) well, everyone thank you and welcome to ore woemz the san francisco budget & finance committee our own city hall a warm welcome to you that raised the irish flag proudly (clapping.) i want to just give a personal thanks to our consul general from ireland 39 six phillip grant thank you for all you do to strengthen the economic of people ties between our city and, of course, the country of ireland we join the united irish society in kicking off the city's st. patrick's day celebration it is the one hundred and 64 mini anniversary of our celebration what a wonderful, wonderful time thank yo

you have to really like them because it's not caught up in the macro picture, not caught up with thelar, euro and all these things you're talking about. it's more bottoms-up, so fda's approval's helped. this is a farm system for pharmaceuticals. these companies and the things they're creating, the faa process, these pharmaceutical companies are looking like a aaa or aa team and bringing these prospects up to the big farm leagues. we like to buy on dips, we don't like to buy way up the way it is, but certainly, stay away from that dollar-denominated euro, all these things in the big macro picture. underneath the surface, biotech is a bottoms-up type of pick. david: hey, jordan, you're a stock picker unlike ken who likes the broad indices, i'm wondering about under armour. could their stock price be about to go way up? >> again, i don't know that information. it looks like it by the price action, and i loved under armour from the day they became public, i've also been long nike for years. nike's now extended, and what you have with under armour is one of these companies we want to high

from a macro perspective, what do you think it really is?conomy. and if you are predominantly an exporter, life has got a little more difficult because you're the priciest guy on the block nap is what the currency is about. is you're the priciest guy on the block so you have difficulty selling like you used to because your price went up versus everybody else. and you have to deal with it. from the standpoint of the macro economy, that's a success story for america. if the average american has got a job and is getting a raise which is the objective function for the fed and our economy is humming and you actually have people who are exporting having a little bit of a hitch in their get along, give that to me all day long. sfl >> at the the only way mario draghi benefits in this situation is from a currency war. the euro continues to get devalued, that will help his economies in turn. is there a point where we either import some of the troubles that they've had or again give this to you all day long with the great strong dollar unless it's mean

you're not a macro guy. i'm sure you have comments about this.you have some interesting things about a lot of individual issues especially about media. but all the way to catnip and all that. so you ready today? thank you. but one comment that we just alluded to from janet yellen is driving a lot of conversation today. >> just because we removed the word "patient" from the statement doesn't mean we're going to be impatient. >> okay. i can pretend i'm 4. i understand what she's saying there. that was enough, i guess leisman is here eventually and we're going to talk about this huge move we saw. 227 points after being down. how much were we down when it came out? >> i don't know. i was in a meeting. >> like a hundred points. >> so 300-point swing. >> the dollar regained almost all of its ground it had lost in crazy trading and then it backed off. everything moved around just from the -- i thought she deliberately decided to couch what she was saying about patience by moving to the other side and tempering those comments. anyway -- >> it's like taki

and presumably large sophisticated plans so either way i think if there's value contributing into us macro the best recommendation to the board. >> commissioners could a i offer one point for consideration it sounds like the current general investment containments called for review so it's a challenge to get a full vetting awhile staff is comparing the consultant and the fund to fund manager there is potential contract complications that lends themselves to the consultants review. >> nice clarification thank you. >> we have a motion all in favor, say i. >> public comment. >> no, i've taken public comment on it. >> deliberations by the commission all in favor, say i. >> i. >> passes unanimously thank you, everyone the commission will take a 5 minute break at this rate we'll be out of here at 4 in the morning (laughter) >> and no more said item no. 7 just 20 seconds worth of comments annual return for the calendar year a little bit over 7.1 and under our required rate of returns but slightly also underperformed benchmark but it did out perform the medium and over 5 and 10 and 15 performance

she understands that, yes, we have to work on macro issues but also, macaroni and cheese issues as well. for hard-working families, they are one in the same. it is hard to imagine the senate without senator mikulski. we over so much. but i am glad she is going to stay out there raising hell like she always has, and inspiring even more people to consider public service, because of the rewards that, despite all of the challenges, come to you. so thank you for everything, barbara. we love you, and we are grateful to you. emily's list has gone on to help elect to 19 women to the senate, more than 100 to congress, and 11 governors. in addition, emily's list has with your help, recruited and trained more than 9000 women from every background to run for every office, at every level. [applause] and aren't you proud to see governors like our wonderful maggie caps on from new hampshire, and jia -- gina romano don't you love seeing nancy pelosi stand up against efforts of politics, nobody fights harder for middle-class families day in and day out than nancy. didn't it make you want to cheer when i

the problem is that the flattener is kind of long in the tooth on a macro level, whether you look ats, fives to 30s, fives to tens, but they have been steepening as of late. so what does the fed want? in my opinion, the fed would like to see the curve probably steepen a little bit, give banks a little juice in terms of their loan portfolio, so they would most likely like to see the yield curve, which is about this steep right now, maybe as our rates went up, steepen a little bit more. but here's the risk. the risk is, on the flatteners. if you ever see a major move in short end rates dramatically higher, it's almost kind of what is now referred to as the lehman model. you can't get the short-term funding you need. when it comes to the steeper side, we have to be very careful here, because we have liquidity scarcity issues and high quality collateral like bunds and like treasuries. so what position should you have? most of the research of late, citi is being talked about today, says the flattener is the way to go and i don't disagree with that. the problem is it's how much and how lon

local 10 to one i want to support what with my colleagues forced i will free california have been macro it's a an important one we want to speak in favor of level two engagement and like to submit into the record the full text of our march 5 resolution to you the board for the divestment of fossil fuels from our retirement system i will summarize the resolution as follow whereas the burning of informs actually file will continue to cause grave long term after short term impact is to the safety and health of the s f e r f beneficiaries and will put an enormous drain on the public therefore, be it resolved the sf e r s immediately cease any not investments in fossil fuels that includes holding in informs fill fuels and therefore, be it resolved that we invest in renewable energy and therefore, be it resolved the board do you want the engagement immediately pa make monthly reports eliminating the risks to our retirement system and make a determination because you can whether engagement has the prospect of success at the end of 18 most and therefore, be it resolved most importantly that the

she understands that yes, we have to work out macro issues and also macaroni and cheese issues too, and for hard-working families, they are one and the same. it's hard to imagine the senate without senator mikulski. we over so much. but i'm glad she's going to stay out there raising hell like she always has and inspiring even more people to consider public service because of the rewards that despite all of the challenges come to you. so, thank you for everything barbara. we love you. we are grateful to you. emily's list has gone on to help elect 19 women to the senate more than 100 as you heard to congress and 11 governors. emily's list with your help has recruited and trained more than 9,000 women from every background to run for every office at every level. [applause] aren't you proud to see governors like a wonderful maggie from new hampshire and gina rolando leading the way don't you love seeing nancy pelosi stand up against efforts of politics with the security . nobody fights harder for middle-class families day in and day out than nancy does. didn't it make you want to cheer when

what macro things have to go wrong for a home depot to stop working here? crash, and i sort of agree with brian. i think a lot of the lousy news on housing related stuff is just bad winter weather news okay and you got other stuff, dock strikes, whatever. brian, i will be real quick about this, i'm looking at wages rising at 2% a year. that's not much. but hours worked are rising at 3%-plus, so total income for the average wage earner is actually over 5% with no inflation. and i just keep thinking when the weather clears up brian, you may see a very strong consumer, maybe a mini consumer boom. >> brian? >> it's entirely possible that you could see a consumer boom because, as you point out, wages are beginning to rise hours worked are beginning to rise as well and you add the two of them together. i think investors typically fixate a little too much on the average hourly wage number not taking into consideration that well, it also matters how many hours you work and that's been hanging in there pretty decently. so i agree with you. i think we could see some

. >> do you think the sell-off of airline stocks i think big macro, demand is very high. there is skittish reaction this week and maybe into next week. people want to fly. they want to travel. >> i was on a plane thursday. it's packed. no one canceled their flight. i will say though we keep talking about the -- >> did you look closely at the pilots? >> i did peek in there. i will call them out and look them right in the eye before every flight and make sure. sometimes these nut jobs set off other nut jobs. we had a couple of incidents in asia. if something were to happen in the immediate future, could it have a detrimental impact on the airline industry. this weekend is about high crude off prices. >> if nut jobs set off other nut jobs i shouldn't worry about your flight or a bus you are getting on, a train you're getting on. if you are talking about a domino effect, that would be how it happens. >> i think the real -- this becomes a problem if this guy has, like i said, zero evidence -- if this guy has any terrorist ties. you are never going to weed out nut jobs. >> we d

and finally macro currency. you guys alluded to it there are headwinds here no doubt worldwide. >> are you concerned? do you feel in the next two weeks or so you're going have to come out and say we have to whack our estimates. the currency move has been tremendous. >> we already took our estimates down today. and i think people are underestimating strength that we might get in the back half when you have the combination of intel's new processor sky lake plus the release of win 10 that combo could have a mini cycle. >> let me ask if there is an execution problem at intel. the things you mentioned we all knew about. we knew the xp refresh was going to be ending. we all talked about it. we've known that the dollar is getting stronger. and if you know those two things, then your inventory shouldn't be building like that. it seems to me there is an issue with how the company is executing, maybe not so much what is going on in the world. >> yeah, i mean, i can't necessarily say when they made that statement in januar

mitigating the problem of working within a park and do other toxic things to the street including macro pain and suffering much better so i've said that many times i've taken off work because it's important to the viability of the neighborhood and have to horrible to have those cars in consul general and it is dangerous important the bikes and everybody else thank you (clapping.) >> thank you. next speaker, please. >> (calling names.) >> good afternoon, sir and good afternoon. thank you i'm dana fifth san franciscan my daughter a 6th generation san franciscan safer streets for bicyclists and the neighborhood that's what is bringing us here today it is a valid convenient effort sometimes beer not on the same side but we are here today the neighbors and the thousands of medical practices and music schools and bakers and pizza places where you can get our hair cut and other fantastic places to eat nearly all of those are traditionally mom and pop businesses and don't have penny arcadia nor wax museums this is a good services for the families and the feasted demographic the elderly with ove

i don't think the macro, you know wholistic studies are useful. >> per industry. >> you have to lookspecific industries, age groups. i work around managers and executives. what is happening to the top talent. so the wage gap is 52%. >> wow. >> guess what, women, if they make it to the levels leave or languish in the bottom level of leadership they are not making it to the high paying positions, and it has gotten worse was as we all know there has been a polarization of pay. there's a huge differential these days when what we get. >> and someone two rungs below. >> exactly. >> the wage gap increased. the solution is not really to beat up everyone about the general techniques but say look, in these areas sponsorship is what gets you. >> is and when you say sponsorship. that what we think of as mentorship. >> no, i wrote a book about this. sponsors do three things that mentors don't do. first off, they are willing to take a bet, use up political capital, allow you to walk around with their brand on your forehead. you are taking a risk. mentors do not do that. they add is it for you in w

. >> their telling them to maintain egress is not red-tagged macro maybe yellow tag certain places off limits but the fact they have a permit that is completely states maintain e ingressed it is habitable somewhat. >> is driver's license any public comment on this item seeing none, commissioners the matter is yours. >> it appears that almost moved i know the issue really is for them to establish a more detailed schedule there's going to be another permit they don't want that permit appealed timing is such that between now and the issuance of a permit requires sometime even for fire damage they haven't developed plans that will take time my suggestion is that this permit is almost completed that we allow it to be finished off they have a little bit of work left with the heavy suggestion they meet and establish a schedule and with the tenants. >> with the tenants so they can see when to move out. >> okay. we have a motion. >> i'm going to deny the motion for request i hope they take my suggestion. >> mr. pacheco call the roll. >> we have a motion on the floor to deny the jurisdiction req

. >> reporter: to bring the economy under control, ronald reagan implemented a policy under a macro economic theory labelled supply side economics. it called for a massive cutting of taxes, coupled with decreases in spending for social services. regan eventually lowered the tax rate for the wealthiest americans from 70% to 28%. the theory went that corporations and the rich would stimulate the economy by investing the savings into the economy, sparking spectacular growth. some called it trickle-down economist, critics called it videoedo chicks. ronald reagan had to -- video u economics. ronald reagan had to sign some laws. despite what george bush said... >> read my lips, no new taxes. >> he raised the tax rates for wealthy individuals. the dye had been cast, and a conversation around supply side economics and tax cuts dominated american domestic politics for the next three decades. perhaps no one person epitomizes the anti-tax movement than grover norquist, his organization for tax reform came up with the taxpayer protection pledge, a promise to oppose tax increase. it's arguably become an

the seventies happened bad years for theory and practice of macro-economics.thly fine-tuning of monetary policy created havoc in the economy as martin feldstein explains. i think the 1970s, in particular, was a decade in which monetary policy pursued the wrong goals, was based on the wrong premises, and got us into terrible trouble. it was money's excessive growth more than anything else, that brought us to the double-digit inflation rates. in the seventies, fiscal policy was not much better. by the time congress got around to changing fiscal policy, a tax cut or an increase in spending it was too late. instead of dampening the business cycle they were increasing the fluctuations in unemployment and inflation. by the decade's end, fine-tuning the economy was a thoroughly discredited idea. when paul volcker initiated policy designed to permanently quell inflation, he made much of the fact that the policy was for the duration. when ronald reagan embarked on the most expansive fiscal policy in history he locked it in place three years in advance. 1983 and 1984 we

i don't think the macro wholistic studies are useful. you have to look at specifics. for instance, i work around managers and executives. what is happening to the top talent in the economy. the wage gap is 62%. guess what. women, if they make it to the levels, they leave or languish in the bottom levels of leadership, they are not making it to the high paying positions and the spread has gotten worse because as we know there's a polarization of pay. there's a huge differential get... >> and what someone two rungs below gets. >> exactly. it's increased enormously. >> the solution is not to beat up everywhere about the statistics, but say look, in these areas, it. >> is mentorship. this. sponsors do three things mentors don't do. first off, they are willing to make a bet. use a bit of political capital on your behalf. allow you to walk around with their brand on four forehead. you are taking a rift. mentors don't go ta. they advocate for you where you are not present. the november raise review. there's one piping up saying you deserve a raise. they believe in you. third

non-english column we're talking about nearly 90 percent of our population who are english speakers macro at least 3 and above if you look at the which they understand i'm sorry the english population at the secondary level they're doing symsubstantially in the testing poor so i guess we need more details to look at what the the reasons we're thinking maybe the star test which we no longer use it, too 0 different for the english learners and because the english learners as a secondary level mainly newcomers or long term english learners so we just need more to look at the details or need more details from the district as well so this concludes the number pieces of that hallow point we'll go to the commotionaccumulation. >> i'm away wake now so the delack has come up with some recommendations there are somewhat general and we would have been much for specific and as we go over this material i think we come up with better recommendations so this set is as of this printing and so we're asking that, please to evaluate the structural programs especially, as it is with the density of english sp

yes, we have to work on macro issues, but also macaroni and cheese issues, too. phil: if you missed the whole speech, here is the tldr version. it was the banner version of the hulk with the ed norton version of the hulk. they were not very interesting hulks. mark: there were things she said last night that were inspirational, particularly for women who would like to see a female candidate. but if this e-mail sscandal was not going on, people would be saying high profile, most home-court advantage she could have and that was not the speech people wanted to hear. who do you want in your living room for four years? she was flat and slow. at her best moments she was not that interesting. i fell asleep twice during this speech. but i would not fall asleep during a bill clinton or george bush or barack obama speech. if that's the best she's got, the country will be sick of listening to her after a few months. phil: she was testing things in her last couple of appearances. was there no desire to test? mark: that crowd was ready to cheer and whoop and holler, as you sai