mark gilbert also here. we have to start with oil. correlation, and we would talk more about oil. the correlation is crazy. is this a function of the markets? there is a growing political element. so -- francine: between the u.s.? simon: -- simon: i have been being used by the fact the transmission mechanism. this is quite astonishing of the course of the last year for an exchange markets fairly ignored them. that i find concerning. francine: there is a very strong correlation. the fx market is ignoring it. equities need to selloff or on depending on the price of oil. marco one is the collapse of opec. -- mark: one is the collapse of opec. , why?her part of this they need the money. so that tells you something about the economic backdrop. .t is not just oil it tells you about the macro picture. even at $30, keep pumping, because we need the cash. francine: what do we know about the macro picture. i want to show you what is priced in and what we are expecting of the european central banks. we are talking about possible hikes from the f

paul kazarian and mark gilbert are still with us.i think the next crisis will kickoff. we will be back in talking about greece in the next recession from the eurozone. paul: we have a minor conflict. we are bondholders. that's my disclosure. issue with the current financial minister is that they are all focusing on -- in public -- on debt numbers that don't make sense. no one uses future face value, it's ridiculous. greece's debt is not 300 plus, it's really only 68. saying they didn't get debt relief in 2016, they did. they got so much debt relief, it canceled out the 21.4.. we should also ask them to give you a copy of paper he distributed in brussels, which i'm happy to do to the eurogroup. he said that number is meaningless, he used it as a misunderstanding and they should use a much lower number and the that was sustainable. that's what he distributed in private. i have a copy, and happy to share. it's up on one of the websites. this issue of when a crisis -- we're not trying to sell books or get speaking engagements. not saying

pfrom gilbert arenas agaga on exhibit. p>> mark: we have the cleveland phall cheap trick and education pactivities there. pcleveland19.com you can get pticket information. pbut it's members this friday pcoming up. p>> this friday. p>> mark: very good. pcraig harris ceo of the rock 'n' proll hall of fame. pwe appreciate it. pit's been a long day. pyou've been everywhere. p>> i have been everywhere. pi keep seeing the same people. p [ laughing ] p>> mark: i know. p>> romona: good to see you, pgreg. p>>> the perfect woman revealed paccording to a new study. pwell, i don't know. p>> romona: yes. p>>> and trade talk continues. pand tony and i are discussing p. p>>> now for a quick timeout with promona and tony. p>> romona: tony, we are talking p>> tony: what's the biggest ptrade in cleveland the last pthree or four years? pwhen we traded for you from pchannel 3. pthose deals don't come along pevery day. p>> romona: you cannot say that. p>> tony: those don't happen. pall this talk about kevin love. pfire away. p>> romona: you are so bad.

gilbert and chris justus. we also have aly myles and asheville and the skycam showing fog and rain and our photographer mark lyon out checking on conditions on the roads. first, let's get with dale in the weather center. dale: we have watched this big storm march across the country and it is always unknown as to who will be impacted the most. we are getting rain this morning. you good downpours in pickens county, anderson and hart county. also, northeastern georgia has a line of thunderstorms from atlanta to greenville. a lot of this is impacting areas south of the i-20 quarter -- corridor. let's go to meteorologist chris justus. these are flash flood watches and wind advisories and warnings out for the area. let's find out how the storm will impact the southeast. chris: we have the latest computer model and it shows the heavy rainfall over us and will continue to push east. another round moves in between 7:00 and 9:00. it could have heavy rain and gusty wind with it. as it pushes eastbound through the afternoon, it energizes east of charlotte and that area from greensboro, they it phil, raleigh, down to myrtle

gilbert hour. thank you for joining us. see you next time. ♪ mark: i'm mark halperin. i'm john heilemann. "with all due respect" to ted cruz, we will need you to the campaign tomorrow, around 9 a.m. that would be great. ♪ it looks like somebody has the case of the fridays, sports fans. keeping with the finest south carolinians tradition, the presidential campaign is turning to a lowdown, pre-staging a primary that look like a combination of kill bill 1 and kill bill 2 but more bloody. donald trump has taken a big south carolina lead. he is at 36% compared to ted cruz at 20%, marco rubio with 15%.

meteorologist dale gilbert and chris justus and aly myles in asheville and live looks in anderson and greenville. mark lyons is driving on the roads. first, dale? dale: areas of rain and fog across the area. temperatures climb to to the upper 40's and stayed there yesterday. breeze out of the northeast at 14 this morning. fog be in spartanburg. there will be areas of dense fog along with rain. we have seen pretty good downpours in greenville, anderson county and the break in parts of oconee county and we are not out of the woods quite yet. it looks like a lot of the energy and severe weather has gone to the south. southern georgia, south of columbia. we are under flash flood watches because of saturated heavy downpours that could lead to quick flooding of creeks and streams. in western north carolina, high wind warnings and winter advisories. produced out in columbia and newberry -- pretty stout in columbia and newberry. chris justus is looking at the threat for the day. chris: it will get very breezy today. the highest impact will be on the morning commute later this afternoon and evening. looks like

gilbert for the hour. thank you for joining us. see you next time. ♪ ♪ mark: i'm mark crumpton.g "bloomberg west." let's start with a check of your first word news. the leaders of the roman catholic church and the russian orthodox church sought to repair a fractured that has divided christianity. the pope and patriarch signed a joint declaration on religious unity. it was the first time a pope and a russian patriarchate ever met. president obama signed a bill that will hit north korea with more stringent sanctions for refusing to stop it nuclear weapons program. democrats and republicans joined together to improve it with a vote. the vote came less than a week after the north launched a rocket carrying a satellite into space.

gilbert kriswell. i wanted this body and the executive director to lobby our state officials like mark, and phil tang and david chui for money to go to the central subway expansion to the north beach. the south side of the city is cut off from the north side and i live at market and geraro and it is very difficult for me to get even over to north beach. i have to transfer to 3 different buses. so, that is my public comment to lobby for more money and what the surplus in the state you should have the governor, approve it. thank you. >> thank you and we have a card from bob flanhold as well. >> okay, so he will speak on the next item. >> so colleagues we have heard the public comment and we will close public comment and can we approve the legislative positions with the exception of this severed item? could that do that without objection? >> thank you. now, to ab 1641, and the connected items, supervisor weiner. >> thank you very much. excuse me, very much, and thank you for preceding over this portion of the meeting. colleagues, i ask that ab1641, and abx125 considered separately. and these are legislation

gilbert kriswell. i wanted this body and the executive director to lobby our state officials like mark, and phil tang andral subway expansion to theorth beach. the south side of the city is cut off from the north side and i live at market and geraro and it is very difficult for me to get even over to north beach. i have to transfer to 3 different buses. so, that is my public comment to lobby for more money and what the surplus in the state you should have the governor, approve it. thank you. >> thank you and we have a card from bob flanhold as well. >> okay, so he will speak on the next item. >> so colleagues we have heard the public comment and we will close public comment and can we approve the legislative positions with the exception of this severed item? could that do that without objection? >> thank you. now, to ab 1641, and the connected items, supervisor weiner. >> thank you very much. excuse me, very much, and thank you for preceding over this portion of the meeting. colleagues, i ask that ab1641, and abx125 considered separately. and these are legislation that would clarify that we have local co

mark crumpton. back to you. alix: emerging market stocks are falling for a second day amid renewed concern global growth is falling. scarlet: earlier today, mohamed el-erian and gilbertere on "bloomberg ." stephanie ruhle asked him. and i'mwe are seeing sure we will come onto it, but the banks and the worry about return of banks. japan has got a different issue than most other countries. people will not take their money out of the banks and put them into equities or spend it. this is them really throwing everything at trying to get people to take money out of banks. we saw some money markets being closed overnight. the fund managers giving money back to investors, which i can assure you is not something that fund managers do willingly. is ank japan -- i think it separate issue from a lot of the other markets. mohamed: i think martin is right, but we are in the midst of a perfect storm that precincts come together and you get the improbable. it's not the unthinkable. the first element of the perfect storm is concern about global fundamentals and corporate earnings. the second element about the perfect storm is concerned about the effectiveness of central bank poli