mike. hello michael. nice hair cut. ben: yes, short. mike: yes. [laughter] it grows back in a day. good morning, it is cool outside. relatively speaking to what we have had over the summer and first few weeks of september. the temperatures came down a good amount. 49 degrees is the actual temperature. 59 central park. not at the low temp for the morning. 65 montauk. it is cooling down for everyone. 12 degrees cooler at central park. 10 degrees cooler in us up will. it is on the breezy side too. the winds coming in from the west 5-12 miles per hour. the wet weather that we had coming through yesterday, well, it is moving on a the showers are cruising into the new england. temperatures are actually back to where they should be for this time of the year. the high up to 72 degrees. windy too. the temperatures are going up to the mid 80s in a couple of days, but for today it is feeling like it should actually. christina is in from ines. christina: good morning. mike. not much going on early this morning. we are looking at the maps. new jersey 3, turnpike for the most part not looking so

he is comedian mike michael. let's start the show. >> an art exhibit is forced to remove an anti-isis diarama. the passion for freedom art exhibit outside london was set to experience the terrorist group with sylvanian dolls. no longer. they removed the inflammatory pieces. this one is called isis invading a picnic after police said it would require an extra $55,000 to secure the event. but all is not lost. we are brave enough to show you the works of the london-based artist. here is isis interruptiing your favorite television show. and here is isis invading a gay pride parade. mimsy said the images summarize the mentality of religious fundamental list. they are blowing themselves up for a cause that is thin and childish. >> that must be a britain toy catalog. >> i was reading that going i should probably know what that is. that is probably one of the smart british references people toss around. >> i did a quit look. it appears to be like a sears catalog. >> very good. i was very moved by mimsy's artist re. i tho

. >> charged with third-degree murder in the 2013 death of baruch college student mike michael deng and they injured him during a hazing ritual and then called national frat reinstef getting the dying teen immediate help. >> agency as including fbi, homeland security and secret service getting ready for pope francis visit next week. president obama and pun general assembly will also be in town. a traffic challenged week. >> football and teams arriving. crazy. >> so pearl jam here that saturday and pontiff. we can handle it. when i talk to yankees, beyond verge of another collapse, they bring you back in don't they? sunday they win and wednesday comeback to tampa bay heading into the 9th. down to the last out. a-rod at the plate, and he's going to belt a game tieing rbi remember he has to be the guy now because mark teixeira out with that fracture in his leg going to tie craig for 21st place on all time list. more importantly tie the game after brian mccann was intentionally walked obtained, he's got called up from triple a since may 27th out of here. if -- he's yeah 25 or 26 if you have

one is a man who is not here today but most people in the room know, big mike, michael cummings, he was one of my guides into the gains of the community, he and on great christian who will be here and i started to do community-based research and i got to know them and i really i think i say this in the book and i will say it out loud, like falling back in love with an old boyfriend or old girlfriend or what ever the case may be and watts was a place that mattered to me in a profound way. so that was the twisty half by which mike asks me to be the social worker. i will be candid with you. project fatherhood groups all over southern california. jordan downs's group is unique in several ways and one of the ways in which it is unique is it is the only group with a female coach leader, michael cummings, willie freeman, here he comes, elementary but that is how. ordinarily it wouldn't happen. so i to say it with deep committee and it is my deep privilege to be to be long to these men and this community. so, so we have our cover person, this is the gentleman who's wonderful face adorns the cov

let's go out to tom and mike in the radio studio. michaelor our economic indicators. commonwealthin financial network. when it is time to change the conversation, talk with a broker who is ready to listen. visit, what.com to learn more. income and spending. >> income and spending and spending up 4.4%. what than forecast. the prior month revised july higher. it is up higher. july revisedy with higher to inflation data tied to the spending and income report still below the fed's target. again, consumer spending drives the economy. august up .4%. that is the bloomberg first were desk. let us go back to new york. michael: we also get the fed speak today. phil dudley supposedly speaking at this hour. they did not give an advanced text. the markets will be glued to the bloomberg screens, waiting for headlines. morgan stanley said this morning that dudley says yes, janet yellen is right and we will raise rates this year, it will not be a big deal. if he says i'm still not convinced, it will significantly move markets. tom: i totally agree with you

like mike. michael jordan that is. >> first the humble reaction from taylor swift's brother after the vmas, and alex is back with the two talkers. >> it pays to have a big sister in the music business, ask austin swift, taylor swift's baby brother. he recently graduated from notre dame, and you can see him there. his sister invited him to the afterparty following her performance at the sunday's music video awards, and lorde said after the party, austin leaned down to say to taylor, we grew up on a farm! this led to her tweeting out the proof from their family's pennsylvania farm. >> a long way. >> sure! >> how incredible. what a journey for them. >> they are grounded and excited to be there. >>> fans of the movie "space jam" can now own a major piece of memorabilia, but it won't come cheap. the basketball jersey michael jordan wore is going up for auction next month. that's from "space jam," and the official description of the extra large jersey says it has signs of wear and minor staining, but is a spa

michael? mikeeeting which was so much of a narrow call that nobody really knows how they are going to go. is stillnchflower with us, a monetary policy maker at the bank of england. you talk about that they will go in and discuss stuff and all the they wantents tell me to hear the discussion but given the complexity of the statement, don't they really have to get this ready in advance? isn't there a lean already into the meeting on which way they will go? danny: there probably is. the likelihood is that there was a proposal on the table that was discussed. eventually it will come down to a vote and deals, if you like, will be done and their movements in the data over the last few days. a close call. i don't think they should go. i'm not sure what the decision will be and i think the chances are they will not go. summers oecd, larry have been chipping in and saying they should not go, so there will be lots of pressures on them. people may change their minds. the last thing you want in this decision,

mike. >> michael, mic sanity tolly here. and a lot of other people have been pointing back to 2013, the fed decided not to taper in september as expected, they did end up doing it in december but between those two points people say there's no way they are going to make this move in december. is this a parallel situation? are there differences now? i think there are some parallel points to this. i think if they had said in the statement that they just cited strains in global financial markets and as we know markets can look good one day and not so good the next, those strains do co-dissipate fairly quickly which would open the door for december. i would just say they pointed to economic risks as well and low inflation over the next several months. so i think that makes it a higher bar for december, but your point is taken, december is not totally off the table, it may very well happen i just think there's other scenarios that could push it to next year. >> one of the odd things over the last couple months is stanley fisher's

michael. very patriotic. mike: why not. happy labor day. juliet: are you awake yet? ben: he saw hamilton last night and was out late. mike: it was a great show. ben: it is hard to get the tickets. mike: yes, they cost a lot and you have to wait a long time. thank you to my pal. happy labor morning, folks. changes are coming at us here. it was sunny and warm over the majority of the weekend. 71 is the current temperature at central park right now. 68 newark. here is where the changes are taking place, the dew points are creeping up again. we had a break and now it is working back up. 64 dew point at central park, not too bad but on the sticky side again. winds are coming from the southwest again at 3-8 miles per hour. late last week we had a northeast wind and bringing the temperatures down and now they are going back up and high pressure is sliding offshore and allowing for shine and southerly flow and bringing back the heat and the humidity. the storm chances won't with be a problem for us. it is going to be sunny and a hot. we are going up to 88 degrees and a lot o

speaker' ceremonial office. , who isay the monsignor the official translator for the pope, monsignor mike michaelsres from inside the capitol building. this is quite a complex event involving most of the television networks in cooperation all across the city. more than 20 separate feeds coming in from all across the .own we will have coverage of the pope speech before the -- the pope's speech. we will have coverage of the before the joint session of congress. the scheduled time is 10:01 eastern time. once it is over when he goes out to the speakers balcony to visit with the crowd there, as soon as we have the opportunity we will open up the phone lines to your reaction to the message the pope delivered here. members of congress have already been commenting about this day. earlier today we saw a picture of patrick leahy, the seniormost catholic member of the united states congress, the senator from vermont. he took a picture of his wife on the speaker's balcony and posted on his balcony -- on his stockr feed, marcel takes of the crowd. the estimated crowd between 40000 and 60,000 people. here is an

mike: really laboring. [laughter] ben: everybody get out their violin for michael. mike: working for all of the newscast. see. good time charlie. [laughter] ben: take the rest of the month off. juliet: need four coffees. mike: next week too. there you go. [laughter] love it. i get no sympathy like i'm like my turn. show you what's up. first of all i stepped outside o. it doesn't feel that bad to me. maybe i'm getting used to it. you can tell it might be one of the last hurrays in terms of the heat and humidity. 76 central park. in poughkeepsie. 59 only in monticello, and typically we should be dropping down into mid-60s so to see mid-70s it is definitely warm. mainly clear sky here on the radar and satellite nothing to see here at all. we have to back it out to find anything other than the heat and humidity what we're featuring for next couple of days is the heat and humidity. for a little while to come here but it does take a break for us u as we head into the weekend. but today pretty hot. up to a high of about 9 drags we might hit 90s if that is the case we'll have a heat wave on our hands because we

back to tom and mike. michael: it never ends.ready to listen, call visit commonwealth.com to learn more. it is a busy data week. today and tomorrow, adp, 200,000 jobs. steve says. and we could use that. -- a yawner. build of the is speaking at this hour on market liquidity. the fed distorting what is going on in the markets these days. are they? the headlines, it is on bond liquidity and fed qe may have affected recent measures of liquidity. it did not move the markets all that much. >> when you talk to most on traders, they will tell you it has had a secondary impact and increased low on the bond market. the question is whether this is the right information going change worth this has to going forward. it is something that needs to change going forward. tom: you look at the behavior of america. what does that mean, first of all? >> leverage can be good and bad. if you have too much leverage, a short duration structure, yourng over the debt, credit quality is going down. the higher your credit score is, the better you are. the mo

michael? mikemberg television, the president of china has arrived at the white house. he and president obama shaking hands and striding forward for introductions to u.s. officials, shaking hands with vice president biden, his wife, and secretary kerry. they will then go up to the platform. national anthems will be played. they will review the troops and speak. we will try to bring you some comments as the state visit gets underway in washington. we might mention, with inflation running at a 2% rate in president xi's china. tom: the moment of it within economics. clearly, everything we have read is that the politics of the moment trumps economics. i would note right now i see michael froman in the photo. you wonder about trans-pacific debates, leaving china out is part of the interesting tensions ambulances of these -- interesting tensions and nuances of these talks. they stepped to the podium. mike: president obama and president xi on the south lawn of the white house reviewing the troops in front

tom: where is probabilities right now, mike mckee? michaelre starting to get into the range of market perception, rather than being buffeted by headlines. move.: but that means a something has to happen at the end of next week when the fed press release and a press conference there, you will move one way or the other because 30% is not a typical placing for action on the part of the fed. michael: the interesting thing i have seen is that people are looking at this as the start of the fed tightening cycle, and they have hearkened back to 1994 or even 2004. the fed says over and over again it ain't like that, we are not going to go very high, we might be one and done for a while. the turnover rate will be low, but people do not seem to buy that. steven: if that means into the early part of next year, fine, but the fed has no history of -- michael: even if it is 1%. even if it is 1% for the cycle, the 2-year note has a little bit of pricing. be a remarkably shallow tightening cycle. tom: why is this happening now? -- thereapan and china is almos

on the left. >> we'll pull up to mike. >> don't follow directions. judge michaelas starting to get hot. >> it is hot out there. it was hotter yesterday. >> at first he's like i'm not wearing this, but now. >> so a.m. egg, people just joining us, what time did he actually leave? >> started at 8:00 in camden, and he's been walking ever since. so coming up on hour and a half here. >> all right. >> mike? >> oh, my mike, i just keyed his car. oh, oops. >> there you go. >> i just keyed this car. >> how are you doing? >> my mike fell. hey, make sure you spell it with a h. >> we have insurance. >> what's up? >> look at you. >> how are you doing? >> what's your name. >> stacey guards nerve. >> oh, i know you, how are you doing? let me see your badge. >> okay, what's happening? good to see you. you work at the school district in ready for school? >> absolutely. >> yes? >> yes, yes, yes, getting red. >> i looking good. looking fresh. i'll say hello to bill anderson. it will be right in the back of my head all day. >> hole on, look at this, could i have some, the whole thing

she has been a resilient bu ll, hasn't she michael? mike: they have not taken away the punch bowl.it is party time, i would imagine. to finishll continue the week as strong as we can. global correspondent. when he was at tulane university he broke down his senior project. a global macro correspondent. brendan greeley -- brendan: i have to say, that the professor who taught me my grow at tulane university does not remember me, and he definitely gave me a c. i will say the three rules that i learned from the control room, do not saying on air, do not look surprised when the camera finds you, try to get to the guests sooner. thank you. >> this is bloomberg "surveillance." it is 8:00. janet yellen and her colleagues go beyond dovish. the reason behind their decision, and what it means. i michael mckee, along with tom keene. we have a market check. if the fed is worried about global growth, so are we. starting in asia, the nikkei 362 points. in europe, the stoxx 600 is awful by 1.8%. six points on the day. in germany, down 2.8%, 290 points. that pressure transfers to the s&p. that is a

michael: that is what they tell us. i want to bring in our editor, mike regan who is also in studio with us. catalyst forat the the selloff is china, what are you hearing? manufacturing the data from china but also the week market there, the shanghai composite was down almost 5% at one point during the day. reported, the government comes in later in the session and tries to prop the market. all they could manage today was a drop of 1.2%. even with the government intervention, they are having a hard time keeping the stock market afloat. the other story is the volatility itself becomes a catholic -- catalyst for the market. tracy alloway has an interesting piece on bloomberg.com about risk-parity funds. as volatility picks up, these funds pull in their leverage. they have money they borrowed to buy assets. they pull back on that because volatility is higher than what they've modeled four. there is semi-automated trading that is reacting to signals in the market, not looking at fundamentals, not looking at eco-data or earnings outlooks. olivia: this is somet

mike. >> remember michael jordan's jersey in the space jam movie. it is up for auction.ing bid will cost you at least $10,000, to get his jersey that he wore as part of the film. >> who would do that. >> that is starting bid. and it is listed on an on line auction site invaluable.com. >> it is next month and jersey does come with the shorts, you get a package deal. >> if it comes with the shorts i can see paying $10,000 for it. >> right there in philly, where was harry styles spotted last night. >> their concert is tonight, right. >> they are already here. >> well, harry styles was hungry for some pizza last night, we will show you a picture of him in the pizza shop where do you think he went. >> you'll to have show us. >>> well, rocking chair upgrades, one inventor gets creative the chair that fits the entire family at the same time. >> i love this idea, why didn't we think of this, seriously. >>> presidential response what the white house really thinks of kanye west running for president. >>> one direction is in town, they are on the road again, tour, hits the link, to

michael has been helpful there. came into the studio. and our studio, of course, not multi-million fox news channel or sirius studios with the bells and whistles. it's a renovated conference room. four mikes up. basic board. and michael was looking around saying, you want to put soundproofing here or there, but it -- it has technically been very basic. we have a box we take out on the road to do remotes. we have a bureau in city hall. we broadcast live from city hall. very low investment. we're seeing traction on advertising, cross-sell, as well as some radio-specific buys. >> i strongly advise anybody who is not familiar with herald radio to check it out, because what they're doing is definitely a clear-cut example of the future and the potential of audio media mixed in a multi-platform setting. i applaud you for that. alan colmes, you are a friend of mine for years, so i know you personally. >> what? >> don't try to be funny! well, alan is really a very funny guy. so whenever people say to me, i get so angry at him. he is such a nasty [ expletive ] i -- i get very upset. >> did you just call me a. [ expletive ] ? >> no, i didn't. they did. now we said it twice and they're going to have

chunk mike chun michael deng died two years ago. ten are due in court today. police plan to arrest 37 men in all. >>> as new york city gears up for the pope's arrival, there's a new effort to help the homeless. mayor de blasio and cardinal doeclan announced the archdiocese ll house up to 150,000 homeless people. it's part of a bigger initiative called opening doors. it encourages religious leaders to provide safe haven beds for those who need them. mayor de blasio talked about it when he joined us live earlier this morning. >> we are going to work with the archdiocese and with churches all over the city and with all faiths, really, with houses of worship of all faiths to help get homeless folks off the street to give them a better opportunity. this is inspired by pope francis. >> the beds will be at archdiocese's own facilities >>> up next, we'll see what'se aheaenon the "today" show. >> don't forget to follow us on facebook and twitter. you're watching "today in new york." back to school? how about...back to blinds! during blinds to go's early fall savings sa

michael bloomberg. he knows people close to mike and michael bloomberg may be thinking about it. >> i know the whole backtory on that tweet and it's no good. >> no good. >> you heard it here first. no good. >> we're first on business worldwide. >> you heard it here first. first on cnbc right here. >> coming up, the state of the individual investor, a unique take on the little guy from td ameritrade's ceo. that's next. actions. they speak louder. we like that. not just because we're doers. because we're changing. big things. small things. spur of the moment things. changes you'll notice. wherever you are in the world. sheraton. >>> cfo of td ameritrade and member of the global cfo council and you are retiring. >> unbelievable. >> how does it feel? >> it's a strange feeling. i think i started delivering papers when i was about 12 but it feels a little different. >> when you started it was about $100 to trade a share of ibm. now it's down to $9.99. do you see it being free? >> i've tried free. i don't see that as being an inhibitor to clients that are going to trade. different people have run at it and trie

mike, i think you wanted to respond. michael: i just wanted to say that the picture that david presented of lower level technical experts being committed to their job and thinking the best of all this, in contrast to -- and not being influenced by political considerations, and higher level officials having a different view, is built into the d.n.a. of the obama administration. of course it exists in any administration, to a certain extent. but it's really heightened in the case of the obama administration. i think everybody now recognizes this. for a while it was only i think critics of the administration who said this. now i think everyone can see it. there is the president and four, five close people around him, and then there is everybody else. and the president and his closest advisors are often not sharing with the everybody else, some of their greatest concerns and calculations. we saw just in the last couple of days, there's a fascinating article in "bloomberg" about the russian move, the russian military move in syria. a

. >> michael, what'd you think? mike: not bad for a first-timer. he's standing up and that is a good thing. we have fantastic weather for the holiday weekend, perfect stretch of weather, look at the sunshine. saturday, sunday and monday nothing but the sunshine. not as humid or hot. the highs in the lower 80s tomorrow. beach day on sunday with the highs in the high 80s. enjoy it, you know what happens, school begins and back to it. today, it is just sunny and warm side. the temperatures are creeping up. they are not going to shoot up. right now, you have 79 central park. 80 newark. 77 belmar. there was one little shower right there over the southern sections of connecticut and right near westchester but now even that is fizzling out a little bit. the dew points are pretty high. 65 to 70 degrees. that is a pretty high number. it is not dropping down to well into new england. we have some of the dryer, cooler air working into the tristate as we head to the later afternoon and evening hours here for you. the winds, welcoming in from the northeast 5-15

scott walker, michael gram, ted cruz, mike huckabee, rick santorum and others attended the same debate. walker hit the same convention as carley fiorina. as for the democrats, there was an appearance on "the colbert show show". >> movie reel: you are a liberal and socialist, and people call you a liberal and a socialist. why will you not accept those two terms as the insults they are meant to be. [ laughs ] >> i prefer the term, actually, to be a progressive. >> donald trump hit back today at his critics. he's been under fire for failing to rebuke remarks by a man at a town meeting saying that president obama is a muslim. the front runner tweeted: line palestine randall pinkston has more about the town hall eftenlt event. >> we'll have fun, instead of making a speech i want to take questions. >> reporter: donald trump was taking questions from on audience. one was this. >> this man, i like this guy. >> the problem in this country, it's called muslims. we know the current president is one. you know he's not even an american. >> we need the first question. >> trump tried to deflect the q

greg: in the meantime, michael, what is going on, buddy? mike: keeping an eye on the wet weather coming into town. right now not that big of a deal. the northern tier has a flood watch going into effect. not just through tomorrow, but through thursday morning. an extended time of wet weather coming out of. some places seeing 4 inches of rain before said and done. it looks pretty wet here. not too distant future. not picking up much. our biggest piggish hours are here in the offshore waters. not much happening over the land areas just yet. 80% of us beginning the rainfall by 9:00 o'clock this evening. chances are picking up as we get into the day. seventy-five out at central park. sixty-nine. seventy-two in bridgeport, as well as montauk. and a lot of clouds. plenty going on out there. a lot of moisture. this guy has something to say when it comes to what will be happening with our weather. making a big mess over the tri-state. the moisture coming in keeps coming in. heavy downpours for the overnight hours. tomorrow starts off quite wet. it start

take a look at gorgeous sunrise that mike just mentioned from our michael & son camera.tty nice out there. high pressure is doing its job for today. and tomorrow. 63 degrees out there. that dew point interest the 50s. we like -- into the 50s. we like that. it will stay that way for tonight and tomorrow. winds are going to stay out of the north, northeast. a little bit of a breeze from time to time but that will feel pretty refreshing for this afternoon. into the 50s for white oak, laurel and bowie. bowie you're at 56 degrees. look at lovettsville into the upper 40s. we will see very similar temperatures to tomorrow. if you're traveling along the 81 corridor in the shenandoah valley, you have low visibility. dense fog out there so keep that in mind. high pressure is in place for today and tomorrow. it's the weekend where things get a little unsettled. rain chances look to arrive saturday night and into sunday. here's your forecast. 79 today. 81 for tomorrow. 77 for friday. and cooler over the weekend as we track the chance for rain and clouds will linger for saturday and

michael landon. >> incorrect. james carer. >> mike got 0. john, 3. 20 points each correct answer. you guys can head back to your podiums. take a look at the score. mike/brooke, third place. 70. don/john in second. chris/allyson have taken the lead. with 130 points. taken the lead. i say it again. this is breaking news -- chris cuomo and allyson have taken the lead. >> new day! >> a new day. coming up, team work, still anybody's game. stay tuned. [ cheers and applause ] at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. what did iran's supreme leader get in the nuclear deal? to start with, $100 billion. they keep their nuclear facilities and ballistic missiles. there won't be surprise anytime-anywhere inspections. and after ten years, restrictions are lifted and iran could build a nuclear weapon in two months. congress should reject a bad deal. we need a better deal. ♪usic: "thunder c

mike: i am michael mckee along with tom keene.d economic indicators are two by commonwealth financial, the and make highest in independent advisers satisfaction among financial investment firms four times in a row. commonwealth.com. as i mentioned, a lot of data. we are wrapping it up from the desk. >> it is trickling in with jobless claims up by 3200 than forecast jobless claims. it is below the critical 300,000 level since the beginning of large, pointing to a strong labor market. the government canceled the press lockups for the release and it is putting out the of the web, so it is trickling in and we are waiting for data on durable goods orders. tom: excuse me, are you blame this on pope francis? the slow economic it is the pope's fault this morning? : i will abstain from answering such questions. while we wait for durable goods, the federal reserve bank of chicago is in negative, so jobless claims, as we know, up by 3002 and 67,000 and durable goods orders, we are waiting and maybe the pope got an advance copy. i don't know.

michael landon. >> incorrect. james garner. >> mike got 0. john, 3. 20 points each correct answer.s can head back to your podiums. take a look at the score. mike/brooke, third place. 70. don/john in second. chris/allyson have taken the lead. with 130 points. taken the lead. i say it again. this is breaking news -- chris cuomo and allyson have taken the lead. 130 points. >> new day! >> a new day. coming up, team work, still anybody's game. stay tuned. 6: it's easy to buy insurance and forget about it. but the more you learn about your coverage, the more gaps you might find. like how you thought you were covered for all this... when you're really only covered for this. hot dog? or how you may think you're covered for this... but not for this... whoa! no, no, oh , oh! ...or this... ...or this. ...or that... talk to farmers and see what gaps could be hiding in your coverage. my heaven! ♪ we are farmers bum - pa - dum. bum - bum - bum - bum ♪ everyone is looking for ways while to cut expenses.s unique, and that's where pg&e's online business energy checkup tool can really help. you can

michael. >>> still to come, mike huckabee comes to kim davis's aid. and now civil rights advocates are comparing her to a famous civil rights icon. >>> and the details on the growing crisis since world war ii. the growing list of european countries meta is clinically proven to help lower cholesterol. try meta today. and for a tasty heart healthy snack, try a meta health bar. ♪ mother nature can turn in an instant; don't turn back. introducing the new 2016 ford explorer. be unstoppable. ♪ this is my fight song... yyou think it smells fine, butur your guests smell this... febreze fabric refresher eliminates all the odors you've gone noseblind to break out the febreze and breathe happy. . >>> pope francis called on catholic parishes and communities throughout europe to take in families fleeing conflict. in hungary the influx of people attempting to cross the border has authorities taking drastic action. richard engel has more. >> the hungarian government is taking a hard line against the migrants and refugees and police have been rounding them up and put

mike mckee never gets busting chops. michael: he would never do that.e say thank you to our guests. it was really quite interesting and carol on bloomberg radio will move things forward. i know on bloomberg television coming up asng" well. the dow jones up 54 points and 23 .52. the 10 year yield is higher yields, the theme this 1, 2 .21% and the janet yellen vocus on .7419. we are produced by richard truman, justin lowe, and boating, good morning. ♪ >> welcome to "bloomberg market day." to the fed meeting continues. we will see how nervous it makes the markets. pope francis has been critical of capitalism but some on wall street hope to win him over when week.its the u.s. next high and stores had been down in the dumps, but product earnings could upper sides of a luxury rebound. earnings could offer sides of the luxury rebound. scarlet: good morning. i am scarlet fu and we are 30 minutes into the start of the u.s. trading day with stocks rising in the early going chair with seven out of 10 industry groups by a by energy shares up right better than 1%. y

somebody like long-time valley investor michael kwatinetz, 25 once, just not as recently. mikearneds the title number one stock picker on wall street until he turned venture capitalist, his blog sound bites are read by smart investors and a general partner and has a ph.d. from cal berkeley, one of the most authoritative voices on education technology today joined by mike cia of investors business daily and [ inaudible ] graham of fortune. let me ask you the way i set that up, i want to look back at some of the things you've been through that the john co colelinsons have not been through. let's start with the premise is that worth doing? is looking back at the dotcom boom and bust or recession or credit crunch worth doing in this economy or is that foolish? >> i think it's always worth looking at the past for parallels and so it's of two perspectives. the thing you're mentioning are national-type trends, overall economic trends, but it's also good to look back to do comparison to prior iterations that approach the same thing. so we do that all the time. so if you look at how the

mike is here. >> perfect. >> hi michael. >> here we go. >> and off he goes. >> it is like we are seeing double herei love this kid, is that your sister. >> come over here. >> so cute. >> can i wear one of those. >> i love these things. >> you are such a cutie, thank you. >> come on over here, kids. >> he is afraid of you, mike. >> this shirt is perfect. we are about to go to quincy. you have to see this shirt it says meek mill and drake is of course, charged up. >> hoist your favorite, meek mill or drake. >> drake. >> we have a drake fan quincy, we have a drake fan. >> i'm a storm trooper, i'm a meek mill fan and i'm a star wars fan, it is force friday and guess what i'll tell you about what is going on here at target, star wars everything it's intelligent enough to warn of danger from virtually anywhere. it's been smashed, dropped and driven. it's perceptive enough to detect other vehicles on the road. it's been shaken, rattled and pummeled. it's innovative enough to brake by itself, park itself and help you steer. it's been in the rain... the cold... and dragged through the mud. introducing the a

rachel: so, mike, can you explain how this whole system works right here? michael absolutely. i am controlling each step with just a push of this button. in the backpack we have a computer and a cell phone. our engineers can actually tap into the cell phone, and it communicates how many steps, how much time the robot has been walking, and all these things. the bulk of the backpack is a computer. these are the batteries. we have hip motors and knee motors. on his right hand, we have our crutch interface. so he can actually engage the walk cycle by just hitting his thumb on this button here. jason: so i initiate a walk. and then my first step. rachel: how does it feel to be taking steps right now? jason: oh, it is amazing. it is slower than my wheelchair, but it is more gratifying. rachel: i understand you were able to walk down the aisle and stand at your own wedding due to the ekso suit? jason: what was great about it was that i did not tell anybody i was doing this. my wife knew, but all my guests did not know. so when things were delayed, they were getting antsy

first off, let's check the cooler numbers, and this is mike and will lynn -- michael and linda. they have a question. we do seem to be dealing with extremes. barry, one of the significant totals, 2.7 inches of rain thus far. he will see a break really soon if it things have not wrapped up early. les says my plants are receiving call after 1.84 inches of rain. things are winding down for lest. bruce is talking about the moon tide. i want to remind you risk of more flooding for the south shore due to still the powerful strength of the moon. watch out for that, for the morning high side cycle as well. we have gray skies and fog to deal with. 73 with rain clearing the area, south, southeast, and the shift in the wind will keep the numbers lower today. 70 in sparta, 73 in greenwich and babylon, and you know, 75 we hit it, and technically we have hit our high. temperatures warmer, and this afternoon they will be cooler. dew points will be high. 60 to 70. it's soupy out there as well. did you see that? overnight the hour was 1.16 for the city. you can see the heavy rain for the twin fo

mike is. the idea of a serious discussion about the years of research put into this. michael: that is what you have based your entire career on, your study of the economy. not just investing, but how the economy works. tell us about your concept of the machine. ray: the same things happen over and over again. anything that has happened economically, it happens over and over again. it is a very simple machine. it is the same for an individual. a country is nothing more than the collection of its individuals or companies. there are three main factors. productivity, which produces income. you can spend what you earn. what you earn is a function of your productivity. for the country, it is the same as individuals. work hard, well-educated, you can be more productive if you were carter or if you are -- if you work harder or if you are more creative. we have debt cycles and there are two major debt cycles. a short-term debt cycle, which we are used to. recession, fed eases. increase do is they the spread between the short-term interest rate and the return of other assets. as a resu

mike. it's gotten very to the news flow. michaelinvestors make between the chinese stock market and the chinese economy? people who are in china would say there ain't much of one. tracy: for the recent time of history that was the case. it seems like they are converging now. finally, the stock market is for the real economy is. i would imagine it's in the past were the heavens diverging a significantly. stocks of ramped up to unbelievable levels. michael: the chinese government has been intervening to prop up the stock market. when you have a situation like that, there is no way to know where it's going to go next. i think that causes a ton of uncertainty in the market. , butught not just in socks we sought west week in the currency market when they intervened on the offshore u.n.. of the expected that kind of thing to happen. it caught people off guard. it's difficult for investors not knowing whether or not the chinese authorities are going to be there and how they will react to investments. we have seen a crackdown on short-selle

mike, phil and michael still with us and jonathan as well.alyst and professor at the university of michigan school of public policy, former democratic congressman, harold. we have a lot to talk to harold about. i think you've have three points on everything. >> new york cio, i don't. >> we've been talking about republicans over the past three days. ben carson stepped in it. donald trump always the focus on the conversation. democrats today seem to be all over the headlines, especially a pretty stunning new pole. can't tell whether it's a leading indicator yet or outlier. >> it's definitely worth looking at. out just an hour ago new pole numbers show the democratic pole nomination heating up. likely a three way contest including a candidate. >> see the numbers that surprise you. keep those numbers up. >> they do a bit. it speaks to, i think, michael said this morning joe biden whether he's in the race or out of the race, he's sort of in the race. democrats are hungry for a big debate. they're hungry to hear mrs. clinton lay out a vision. i thi

labor council mike is a terrific manager he's well liktd by all the employees and a good technical knows vehicles but i'm thinking labor council i don't know that's a lot to place michael in but to is a say mike next in order it out of park it was an example how she made her team better by working with us as a team as she also led the charge to pass the bond issue with her corroborate style she led meetings and visits for the mayor's key counselor and advisors on the long term needs jonathan if you would john was one the staff alicia showcased to gain support for this key initiative yes. she made her teammates better led the process not only to establish the management fixture but ear skill and persistence i don't want to say he invented but pioneered the use of something called the action law. (laughter) now the action law has become not only a function it is your at every agency meeting regardless of division but it serves to reinforce the essential organizational core values of respect for others in honoring our commitments again she made her teammates better alicia is the standard for treating everybody with respect there is no issue no grinds two small or insignif

michael regan is here. can you predict the recession? mike: it's an interesting dynamic.you have a correction like this, a drop of more than 10%. highs.record it doesn't always mean we are headed for recession. of the 40 corrections we have had since the 1920's, 13 of them preceded a recession in the economy. if the drop gets worse and we enter a bear market of more than 20%, then the track record gets a lot better. it's 10 of 13 bear markets pray looting a recession. as of now, it's less than a 50-50 shot. explain this, for sure. bars are shaded recessions. are corrections in the market. it's showing basically that every correction does not foreshadow a recession in the next year. olivia: the s&p has predicted 20 of the last? mike: if you think about recessions and corrections. their markets are a little bit more accurate. 10 of 13. if we get to a 20% drop, that's going to be more scary for the prospects. it kind of makes sense. everybody talks are at the stock market looking forward rather than back. trying to look at actual in the books data is very poor. olivia: there

mike's alley harris' brother david said that michael want stod just give back to the community. >>> he understood that his calling was in helping people who he could identify with growing into stronger leaders and stronger people. >> michael and both of his brothers attended menlo school as well. >> it is 6:07. wasn't to switch gears, get a look at our forecast for this week. hot all week? >> yeah, it's going to be really hot. as you look at the closet this morning try to figure out what to wear i'm giving you permission to wear white after labor day. it will be the perfect color to stay nice and cool today. we have a heat advisory in effect for all of these areas you're seeing shaded in orange much, the inner bay, north bay as well as parts of the east bay and all of the interior valleys will be hot from 11:00 to 7:00 as our temperatures get up to 100 degrees in los gatos, burlingame 97, inner richmond at 92 degrees, 98 degrees in napa and oakland 96 degrees, hayward 99 and livermore 103 degrees. yeah, this heat continues all week long so i will show you the rest of the microclimate f

michael o'keefe. >> reporter: cape cod district attorney mike cam o'keefe declined our request for an interview. >>ment had enough information to charge either one of the reines, or both of them, law enforcement would do so. and the reason they weren't charged was there wasn't enough evidence. >> reporter: even if detectives thought that todd reine was the master mind and asked john rams to kill shirley, why do you think he was never charged? >> i don't know. i don't know. that's what kills me. i don't know. >> he never even got questioned. >> reporter: todd was never questioned. not because police didn't try, but because he and his brother melvin refused to talk. >> tell folks how long this journey has been for you to see justice here? >> nine years. >> what would you say to mr. rams if you could? talk to him? >> do the right thing. just do the right thing. >> reporter: in april of 2014, after less than two weeks of testimony, the prosecution rested and the defense made the bold choice not to call a single witness. >> i felt very strong about simply making my final argument to the jury. and asking

mike: good morning. i am michael- among financial firms four times in a row. no 8:30 numbers this morning. number we have out, small business optimism rises to 95.9 from 95 .4, trivially below the 96 it was forecast. reasonable news but not a lot of change in the southern indexes. more hiring and not more pay. a little more capital expenditure and not more sales. cared we dof flat get the janet yellen fed labor market conditions index. i am not sure people pay a whole lot of attention. to all of youing on the radio worldwide are particularly those of you on television as we sima asked from our radio studios. today's proven once again i have got a face for radio. mike: i was not going to say that. tom: come in close. for those of you on radio, the headphones do nothing for me today. you need the fancy colored headphones. tom: yes. let's get that to economics and the debate of the moment. neilve been speaking to dutta. it is deal day. it is $2 billion. blackstone -- blackstone is to buy strategic hotels. six plus three

mike? >> i think michael steele, michael, did you have a question?n about what the hillary clinton campaign is about. what are they really seeing out there? are they being honest with themselves and not recognizing that she has no pulse with the american lepeople. how do they get a pulse for her? >> the reality is, you know, bernie sanders threatens her in iowa and new hampshire. as of now, he doesn't threaten her anyplace else. i said earlier, joe biden likes to say, don't compare me to the voters. compare me to the alternative. what they think they have going for them is first she's got to beat bernie sanders and maybe joe biden and then she's got to beat a field, a big field of republican candidates. but most of whom have high unfavorables with the general election electorate. higher than she does right now. >> think about what mark just said, the argument they're making is that the other guys stink. not that she's great, but bernie sanders is a socialist. you don't want him. we're the ones who can beat the republicans. >> they're also making the

. >> we want to see michael go toe to toe with riley. >> mike, cooler?ryone, the roof camera shows the exploritorium with a busy flag. that means business as far as feeling different, 17-21 degrees cooler today. we have a flash flood watch to the south, palm springs again because of what is left of tropical depression there. pore the most part, it will be quiet across the state, at 98 in paw strings and 88 in sacramento and cool dealer and lake tahoe is 78. safe travels. >> we are dealing with the closure in hayward eastbound, east 14th street off of northbound 238 still closed and the on and off-ramp, as a matter of fact, because of an officer involved shooting and this is the alternate. we have an accident northbound highway 101 blocking the middle lane involving to vehicles at tully road, and the delays are going as you get closer to the 280 and 680 split at alum rock and eases up to the closer you get to 880 and walnut creek, the drive also is loading as you make the drive from pleasant hill to highway 24. >> the san francisco bay is packed with plas