mohamed: correct.nd now, we are going to live with the consequences of having pursued too many objectives with an imperfect policy tool. charlie: what is left on the monetary side for central banks to do? mohamed: they need to get out of being the only game in town. if they don't, they will go from being part of the solution to being part of the problem. this generation and future generations will have an economic outlook that is much more dire than now. charlie: you explain this "t" concept. tell me what it is. mohamed: the road you are on will end. there is no doubt the road we are on now which has been artificially supported by central banks where we have borrowed growth from the future, that is going to end in the next three years. the exact timing is very hard, but i cannot see it last for more than three years. this is from someone who believed in the new normal, the concept that we can have a low growth world forever. i don't think we can. what is critical about it is there is nothing predestine

mohamed: it is.wed for two reasons, interest rates were very low, so they over borrowed and now they will adjust. having said that, if you look at some corporate's, the markets have tracked that. stephanie: that is a good thing. as opposed to high yield last year at 5.5%, which was not a good thing. mohamed: it is a good thing, but the one issue to remember with emerging markets, they have a very weak base a dedicated investors, so they can skip over quite easily. david: let's go to sovereigns, oil. there are a lot of countries that are really hurting on oil prices. mohamed: if you are looking at venezuela, nigeria, you should not worry -- you should worry. you should worry because they have little reserves, quite a bit of debt, and they cannot adjust terry much. stephanie: we are always worried about venezuela and nigeria and now it is worse. mohamed: but don't generalize. there is saudi arabia, and they will come out of this overtime. david: russia? mohamed: i would put that close to the first grou

this shooting happen in a draw mohammed contest. >> they won the contest and depicted mohammed saying you can't draw me. and the cartoonist responds that's why i draw you. >> we have to express ourselves. we stop drawing, we are unfree. >> and america is unfree. many outlets refuse to show the cartoon. >> this is a new's story. i assumed every channel would show the cartoon. >> they don't want to be killed. >> i don't either. charlie heb do wanted to support free press. but then? >> the gun men shot their way up and down two floors of that building. allah. >> and before that a dutch film maker critized in a movie. he was murdered on the street. a danish cartoonist tried to speak in a free speech event. people rushed the podium and screaming allah akbar and punched him. he attended another event where a terrorist shot at him and missed. >> one man was killed and three officers were wounded. all over the world people are killed for criticizing islam. and so now even charlie hebdon car tonnist will not draw mohammed. >> and she said no one should draw mohammed because it is offensive to

mohamed el-erian. do a quick check on how the markets are trading right now, 10 minutes away from the closing l. we are now down about 2%, but coming off -- slightly well above the lows of the session. anddow is still below 16000 the nasdaq, remember the law -- remember a lot of the selling has been happening in momentum shares. the stocks taking a hit like apple, their indexes looking to close down about 3%. much more ahead on bloomberg markets. more of our special report is next. betty: as you can see we are just minutes away from the close on this really turbulent session. we seem to be stuck at this level. remember the dow has been off by as much as over 500 points. today the lowest levels we have seen since august. i want to bring in my colleagues and take you through the close on this day. scarlet: nobody must belong on a three-day weekend. just like this european policy risk a couple of years ago, who knew what the european elites would come what -- what come up with over the weekend, now it is

the attacks were carefully planned. >> my name is ali mohamed. >> reporter: this man, ali mohamed, wasied a californian in 1985 and became an american citizen. he joined the u.s. army. >> at the same time that he was a u.s. army sergeant and actually working at special forces headquarters in fort bragg, north carolina he was also intimately involved with al qaeda, training bin laden's bodyguards. >> ali mohammed had done what they call casing of the american embassy in nairobi in december of 1993. a five-year span between casing and operation. >> reporter: and listen to what ali mohammed said in a u.s. court. >> my surveillance files and photographs were reviewed by osama bin laden. bin laden looked at the picture of the american embassy and pointed to where a truck could go as a suicide bomber. >> reporter: shortly after the terrorist attacks on the two u.s. embassies this man, abdul raheem al nashiri, approached bin laden with a new scheme. two years of planning followed. on october 7th, 2000, in the yemeni port of aden, two al qaeda suicide bombers steered their small boat up to the

good to see you, mohamed.elcome back to the program. >> thanks for having me on. >> could you put in perspective what happened today and what it means for the individual investors? >> so think of a car going down a road. and the driver had assumed the road would be very smooth. and suddenly there are many, many bumps because the road is no longer being resurfaced. and that's what's happening. markets have been ignoring lots of economic, political and geopolitical issue on the assumption that the fed would always have our back covered. now, that assumption is being tested, and the result is higher volatility. the higher the volatility goes, the more selling you get. so we've entered a new regime if you like of a lot more volatility up and down and a buy sort of down side. >> a lot of the focus this week, so far this year, mohamed, as you know, has been on china and the possibility of a real sort of financial meltdown in that country. how do you handicap that probability and what would it mean if there is a full

mohamed el-erian -- by his book, out today.kets will be back in just a moment. ♪ scarlet: welcome back to bloomberg markets. alix: it's time now for the bloomberg is this flash, look at some of the biggest stories in the news right now. indiana may have lost as much as $60 million in revenue thanks to religious objection laws. a dozen conventions picked cities other than indianapolis over the upper of the legislation. played a says surveys role in the decision to locate elsewhere. the move would allow next are to acquire the tv broadcaster after months of negotiation. they are said to be close to agreeing to a package that would include a $50 million breakup and no extra money. twitter has a new chief operating officer. after ofntment comes board lost four members of the executive leadership team over the weekend. scarlet: let's check in with the theets desk and look at biggest ramy: winners in today's rally -- weight watchers. interesting. every time oprah winfrey says she loses weight, the stock see the above bad today is no

mohammed jamjoom joins me from iraq.ohammed, saudi arabia accuses iraq of meddling in everybody's business at least everyone in the region. there are a lot who say saudi arabia does the same thing. >> absolutely ali, that's a very good point. it's kind of funny because the charge of meddling which has been used by saudi arabia against iran seems almost acquaint, considering how much tension have mounted up in the last 24, 48 hours. saudi arabia is just as vested in the area as iran is. you speak to almost any average man or woman on the street they'll tell you they believe a lot of problems in the middle east stem from the fact that saudi arabia and iran are involved in the seeming unearnedding proxunendingproxy . one of the main reasons for that is, major faction he are backed by either saudi arabia or iran. saudi arabia backs as many people they're interested in groups whether they be religious groups whether they be armed groups in the region as is iran, and that is something they are known for throughout the region a

mohammed. >> thank you, mr. mohammed (clapping.) good evening and welcome. >> so my name is felicia john's and he. a member a leader of justice for mario woods coalition and we stand before you as intelligent peep not refuge or criminals we stand before you for justice justice so far mario woods in that again, our demands are one to have you fired chief suhr or you to resign one of the reasons we want that is again, the display of your refuge cops they displayed and intimidated and tried to bully a community

brian: michael ramirez, have you ever drawn a cartoon of mohammed, and if you have not, would you? michael: you know, i haven't. and i wouldn't. i probably wouldn't, to be honest with you. cartoonso humorous samehe sake of humor the way i don't do controversial cartoons just for the sake of controversy. the purpose of cartooning is to send a message to the audience that will not be overshadowed by the controversy surrounding it. where there may be an opportunity to use mohammed, just the fact of having that in the cartoon would overshadow the point i was trying to make and take away the effectiveness of

mohammed. >> thank you, mr. mohammed (clapping.) good evening and welcome. >> so my name is felicia john's and he. a member a leader of justice for mario woods coalition and we stand before you as intelligent peep not refuge or criminals we stand before you for justice justice so far mario woods in that again, our demands are one to have you fired chief suhr or you to resign one of the reasons we want that is again, the display of your refuge cops they displayed and intimidated and tried to bully a community this is what they do on the

mohamed: we have to avoid two things. first, leverage.vironment that will force the leveraging. be careful on opportunities that are highly leveraged, including companies that need to refinance in the short-term. secondly, crowded trades. there is reason why apple has gotten hit particularly hard, which is if you are commonly held by lots and lots of people, to become the atm when people are try to reduce risk. be careful of commonly held the names. they will overshoot on the way down but that will create opportunities. scarlet: got it. in terms of momentum stocks, the same names -- facebook, amazon, netflix -- did very well last year and they are coming under pressure this year as a lot of people have incentives to pare down their holdings. do you go back to things that worked when the volatility was just beginning? mohamed: yes come of those are the names -- they were commonly held, popular names. ownership became too brought. shaken people are being out from the crowded trades commendable overshoot on the way down -- and they will over

mohamed: we are seeing markets become more volatile. we see economies responds less and we are getting less growth out of the system. movements tocal come more extreme. wherever you look, the 10 -- the pensions are there and these are pensions with a regime that is ending. it is hard to say when it is going to end, but it is clear one we would have tipped way or another and that has massive implications for how you position yourself. you think the fed is going to say tomorrow? i think the fed will not do anything. it will neither continue to raise rates, nor will it panic. second, i think it will mention the market volatility and mention the weakening of global conditions, but it will not make a big fuss. it will say we don't have any evidence that is contaminating us, but we are keeping a close eye on it. did.ll not do what the ecb it will not try to signal it will loosen policies. betty: why not? will they lose credibility? they don't want to be -- to bed: they don't want forced by the market to change their policy stance. that was un

. >> thank you bearing now we'll hear in mohammed nuru the director for public works from san francisco. >> thank you like the mayor said over the last few months all the agencies have been working to present prepare for the upcoming storms as part of work we've done over the last few weeks had a couple of sandbags give away gaze and 15 thousand sandbags were given out we still have a large supply of sandbags and any residents feels their vulnerable to any kind of flooding through the garage or door or the back of their house come to our yard chavez a large number to supply people and in addition our crews are scheduled to work around the clock performing inspections of trees any potential tree hazard that the public seize they should let us know when we have storms we're vulnerable to branches and trees falling so call 311 number will allow us to get and work on that emergency preparation for the storm it is fall and with the fall we all see the leaves with a little bit of wind the wind leaves can clog our cap baselines so if you see any catch by an that has a number of leaves again ca

mohamed: yes. remember we have had massive influence on central banks, including encouraging companies to buy back their stock. major have had distortions in the financial system. part of the point was to push asset prices higher in order to trigger the wealth effect and that in turn triggers higher investment and higher consumption. it is a regime slowly being dismantled. the fed is stepping out of the game and others are having more problems. be careful when you look historically in terms of earnings. the major question is can we navigate a regime change? finished the graph of earnings here. if you want to take at the -- take a look at the terminal now, you can see what earnings look like. versus theearnings gains in white. this, you canze see it is stark in hindsight, the amount of growth we've seen versus what is happening in stocks. you were saying there is a regime change, but all that we have seen is not new. the selloffs for that we are seeing are not new in the industry. we see hedge funds

irshad, mohammed, thank you very much. this is a fascinating conversation and i'm quite grateful for the exchange of juice. thank you very much. thank you all. >> president obama unveiled an array of measures today tightening control and enforcement to firearms in the u.s. using his presidential powers in the absence of legal change he is implored congress to pass. an emotional president obama wiped tears away from his eyes as he recalled the 20 first graders killed in 2012 at sandy hook elementary school. >> all of us should be able to work together to find a balance that declares the rest of our rights are also important. second amendment rights are important. but there are other rights that we care about as well. and we have to be able to balance them. because our right to worship freely and safely, that right was denied to christians in charleston, south carolina. and that was denied jews in kansas city. and that was denied muslims in chapel hill, and sikhs in oak creek. they had rights, too. [ applause ] our right to

and as mohammed jamjoom reports, from a camp that many of the yazidis who were displaced simply don't want to go back anyway. >> reporter: for carson and his family, all internally displaced yazidis, returning home wouldn't even begin to help. >> translator: if my family isn't there, i don't have the heart to return to sinjar, because my heart is broken. it's like an open wound that salt was pored into. >> reporter: he shows us a picture of his oldest son whom isil kidnapped after storming sinjar in august 2014. his daughter, daughter-in-law, and grandson were also taken. written on every face inside this tent are stories of unrelenting pain, unbearable loss. his sister-in-law had two of her children kidnaps, a 14 year old, and a 3 year old. she has no idea if they are alive or dead. >> translator: how can we go back in we can never go back? i can't sleep a single moment at night thinking of them. >> reporter: at the camp in iraq, many have become accustomed to living in a kind of purgatory. children, women, and men steel against the bitter cold with a knowledge that worsening weather

also called the mosque of omar where it is said mohammed was called to heaven. merely puzzle on a know it street to another place of sanctity. enter thewho never harrumph custom for fear of desecrating the holy of holies come here to explore which is said to be found as part of the foundation of a solid temp. they have come to this, the waiting places the turn-of-the-century and have stood before these stones to you and lament the downfall of the israelite empire. ♪ announcer: and next on lectures in history, west virginia university professor kevin gooding talks about the idea of religious freedom. in particular,

brian: michael ramirez, have you ever drawn a cartoon of mohammed, and if you have not, would you?ichael: you know, i haven't. and i wouldn't. i probably wouldn't, to be honest with you. cartoonso humorous samehe sake of humor the way i don't do controversial cartoons just for the sake of controversy. the purpose of cartooning is to send a message to the audience that will not be overshadowed by the controversy surrounding it. where there may be an opportunity to use mohammed, just the fact of having that in the cartoon would overshadow the point i was trying to make and take away the effectiveness of the cartoon. so it is not that i am not opposed to using mohammed, but i am more for ensuring that the point i am trying to communicate gets to the audience. brian: this is a personal question. we will talk about your book. are you really the brother of two sisters who are medical doctors, and two brothers are as well? michael: i am. and their spouses are as well. the only way i can get them to show up at family reunions is i say, "i deal with politicians and congress, so i am sort li

"we've become numb," mohammed told us. "it's not easy to talk to your friends at night and discover next morning they've been killed." what will happen to you if you stay in turkey? "every time i go outside, i have this feeling i'm being followed," he said. "but i need to stay alive, keep getting the word out and not give in to isis." barbara kashmar is now seeking asylum in europe but still can't bring herself to bring her youngest daughter anissa that her father is gone. >> it's so hard. i don't want to die. i want to live and to do everything i can. >> reporter: mohammed massara left turkey yesterday and also now seeking asylum in europe, but, scott, he told us that other activist from the group remain inside raqqa, risking death to report on what isis is doing to their city. >> pelley: holly williams reporting tonight from istanbul. holly, thank you. in the northwest, they're preparing for a tsunami. did vladimir putin have a rival poisoned? and 100 and still playing. when the "cbs evening news" continues.m alherey er.

. >> thank you bearing now we'll hear in mohammed nuru the director for public works from san francisco. >> thank you like the mayor said over the last few months all the agencies have been working to present prepare for the upcoming storms as part of work we've done over the last few weeks had a couple of sandbags give away gaze and 15 thousand sandbags were given out we still have a large supply of sandbags and any residents feels their vulnerable to any kind of flooding through the garage or door or the back of their house come to our yard chavez a large number to supply people and in addition our crews are scheduled to work around the clock performing inspections of trees any potential tree hazard that the public seize they should let us know when we have storms we're vulnerable to branches and trees falling so call 311 number will allow us to get and work on that emergency preparation for the storm it is fall and with the fall we all see the leaves with a little bit of wind the wind leaves can clog our cap baselines so if you see any catch by an that has a number of leaves again ca

mohammed ali was a great talker. he was not a writer. they approached richard durham because, again, they liked his work, and asked if he would be the credited ghostwriter for ali's book. yes. saiam said he spent nearly five years working on it. out, it was a top seller, integrated into many different languages. the other thing about "the greatest" and that whole process, was that for four years, he followed mohammed ali everywhere. he interviewed him many times, interacting with his first and second wives. he was there, and he really got to know and really like mohammed ali. was a woman i'm sure people have heard of, toni morrison. ms. morrison said she liked working with durham because he was such a good writer, and she also liked working with ali. he flirted with her first. [laughter] but the only problem she said she had with the whole project m kept promising a manuscript and didn't deliver, because he was traveling the world with ali. at one point, they were talking about maybe getting another writer, but he was so good, and whenev

>>reporter: that's right, mohammed has lived in denver for 21 years but this market has only been open for three. and in the past month, mohammed says that his business has been vandalized three times, the most recent time, they caught somebody on camera. >> my name is mohammed, and i am >>reporter: he is worried about what tuition holds. >>reporter: police say a man set stock the shelves. the surveillance footage. a man in cam move with a stocking cap. there's a pause and then smoke starts to build as the man walks off. here's what thh truck looks like now. >> and he said that the truck -- set the truck on fire and walked away, i've never seen him him in my race. >>reporter: he's been targeting for his race and religion. >> i believe it's a hate crime, i believe someone set it intentionally. >>reporter: he thinks it's not over year. >> the three incident, the trash can, and then set on fire and the front door was broken and now the truck is set on fire. >>reporter: now he wants to live ineaghe% inrik here, it's g gcrigh%t th worth ofthis min tot.thh@that'se%h@t he says. h@is m at this

let's get more now from mohammed jamjoom in baghdad, and mohamed, you have reported ex-tentensive from iraq for a long time. do the fining reflect the sort of things that you have seen or been hearing about? >> reporter: absolutely. the sad reality on the ground here in iraq is practically everybody that we come across, whether they are government officials or aid workers or the internally displaced or refugees from neighboring countries all agree the situation is dire; that it is a vast humanitarian crisis that this country is experiencing, and they believe it is only going to get worse. i'll give you an example to reflect what was said in that u.n. report. in the last couple of weeks we were in erbil, and we met with many yazidis internally displaced persons. they had come there after isil took over sinjar. now sinjar has been cleared of isil fighters for about three months now, and still, the yazidis idp's cannot return. there's two reasons. one because there is no infrastructure to speak of in sinjar now, and there could be booby traps left behind. but also because mosul is still o

the owner there, mohammed is because he is muslim. clinic. this was at the creative treatment options behavioral health clinic at 64th and wadsworth. smoke could be seen for miles. the fire crews said the flames were so intense that they cannot go inside. >>> this is all that is left of an oklahoma home after it exploded. the explosion was so powerful that ittdamaged 50 homes nearby. officials say that the fire started near a gas meter and touched off the explosionn incredibly, only three people were hurt. % >>> this is what people are facing in the st. louis area. the flood danger is not over as the illinois river continues to rise. on tuesday and wednesday. it is expected to crest on thursday. president. -`declaration for missouri yesterday to help with cleanup efforts. >>> some people have good hearts, no matter the cost. a man risks his life to save a we will tell you the story next. >>> we have a story of those who have been dealing with temperatures well below zero to >>> it is 7:16. we are taking a looo from>> bill: pass. there is stil

. >> mohammed nuru. >> president harper present as well and mr. president you have a quorum and per the concurrence of the board we'll call the closed session, followed by the regular calendar and return back to items 3-7. >> excellent. >> so at this time you are scheduled to go into closed session pursuant to government code section 54956.8. we'll go ahead and clear the room.

time, they caught somebody on camera. >> my name is mohammed, and i am a muslim. >>reporter: police say a man set stock the shelves. the surveillance footage. a man in cam move with a stocking cap. there's a pause and then smoke starts to build as the man walks off. here's what thh truck looks like now. >> and he said that the truck -- set the truck on fire and walked away, i've never seen him him in my race. >>reporter: he's been targeting for his race and religion. >> i believe it's a hate crime, i believe someone set it intentionally. >>reporter: he thinks it's not over year. >> the three incident, the trash can, and then set on fire and the front door was broken and now the truck is set on fire. >>reporter: now he wants to live in peace. and now take a look at this truck here, it's got $50,000 worth of damage. that's what he says. he's a little bit worried that more serious crimes, something to do with violence. denver7. >> thank you, kyle. >>> developing tonight, arvada fire crews are working to figure out what started a fire at a substance abuse clinic this

we've now learned that the administration is releasing, or mohammed al amran al-shamrani, a citizen of saudi arabia. he was transfered to saudi arabia on january 11, 2016. apparently "the new york times" d gotten hold of documents

. >> mohammed nuru. >> president harper present as well and mr. president you have a quorum and per the concurrence of the board we'll call the closed session, followed by the regular calendar and return back to items 3-7. >> excellent. >> so at this time you are scheduled to go into closed session pursuant to government code section 54956.8. we'll go ahead and clear the room.

professor mohammed led a very interesting class. program yout this created looks like. >> this program looks really unique. we structure classes along with life experience. live at astudents to prison for seven full days as part of my course curriculum. that particular experience is just not out of the norm. the students are structured behind reading numerous things that govern and prepare them for this particular experience. it is our way of allowing real-life experiences to merge with what we are reading and talking about in the classes. >> let's take a look at the cots the students sleep on. what does the classroom look like gecko can w? , you wentring break to a women's prison and spent the week living in this prison. you are not completely sold on the idea of spending a week in prison. >> most definitely. , ia student of criminology was more focused on crime theory and things of that nature. when the class was presented to me, i immediately thought, what can i tell a parent about how to be a parent? i'm still under my own paren

a celebration party there and they might be among the casualties. >> it was not so very long ago, mohamedoke to a senior somali politician within the last nine months i think it was and said listen effectively we have defeated al-shabab. we have all of the major population centers and yes i have that some of the countryside but they are spent force and what is actually happening with the take or the battle with al-shabab? >> well, the resent attacks by al-shabab are anything to go by al-shabab is far from being a spent force. they have been attacking african union bases at the front operating bases the last of which happened this week, the attack far away from the kenya-somalia border where they killed dozens of kenya defense forces who are of african union peace keeping mission. al-shabab have lost its main centers and right now confined to the countryside but becoming more brazen and do not have access to the sea which they used to get armaments and supply of arms but now what they are doing is attacking african union and somali on forward operating bases taking with them huge supplies