mr. buffett would do this to you. some people cannot confront conflict. mr. why i left work share hathaway. i agreed upon it and shook hands. i resigned. i was leaving. he was offended that i was leaving. why he chose that method to attack me -- i think it does serve your point. if we go for the jugular, you said that there are that hearing transcripts. to presuppose and then to edit the kind of presentation that you want takes on the bias that you have. the left would rage if it was done to them. >> think about the issues. a black supreme court nominee. that is the problem. >> this guide. we love the outfit. i made mistakes. everybody made mistakes. really to a critical point here. an article in the journal. a whole new set of regulations. america was built on freedom for the enterprise. the justice department shut down a big energy merger. these next few months will be very different. america is exceptional. the founding fathers realized that socialism does not work. has never worked. let them choose. free enterprise. let competition determine outcomes. thou

mr. buffett is -- he's talking about stuff that should be common to investors. what carl icahn, the point he's trying to make is there is a risk that without fiscal stimulus, without real economic growth, that we're going to have a blow-off, an asset bubble created by artificially low interest rates. i'll make one quick point. i believe that if u.s. yields go lower, it's not going to be good for risk assets either. look what happened to japanese equities earlier this past year when rates went negative. the stock market got creamed. >> you do think there is a day of reckoning coming? >> of course. kudos to dan for saying -- you know, you can't trade that. and so with all due respect, you know, with all due respect, god bless his soul, carl, i mean, that -- he's not a macro trader. he does interesting things on that front. to say i feel bad, i'm scared is exactly the opportunity that created in the first quarter. i think you're at a place that i think yields that go lower are going to put more upward pressure on equities. if you're dealing multiples, et cetera, pe

mr. buffett about a lot of things including what he thought about the gdp numbers.he lousiest growth we've seen in two years. economists are already writing this off saying don't worry about it. already in the current quarter seeing a much stronger gdp read. obviously warren buffett has his own ideas about that. so many businesses that reach in different directions. and he's got thoughts on that as well and we'll have more of that coming up just a little later this morning on squawk. we have a packed show from here. the next hour. the ceos of two companies. we'll talk to them. and at 7:00 a.m., berkshire board member sue decker will be sitting down with us. we'll talk to her. >> becky, looking good to see you. >> you too. good morning. >> -- yesterday. >> miss you guyed too. >> jumble yesterday. >> i didn't see -- >> brutal. >> still smarting from your loss two days ago. >> and i've said this before. icahn, i've known him a long time. and i've told you he's never ever not said that the stock market is in a bubble. ever. and i just checked to see how long ago the fir

mr. buffett has the views he does. this is a great franchise. it's a trusted brand.ned in a lot of ways it's the kind of company that a lot of startups want to partner with because american express cardholders spend two, three, four times more than other cardholders. >> chris, what's the most significant move for this company next, quickly? >> i think it's expenses on the billion dollars of expense cuts they expect by the end of next year. that and management if they can shift some stuff around. >> chris donat, joining us. thank you. >>> qualcomm shares are falling. despite better than expected earnings. we're going to hear from the ceo next. qualcomm shares roughly flat right now. >>> amazon took on netflix by announcing the streaming service. now, it's taking aim at the cable industry. those details are also coming you on the "closing bell." >>> welcome back. closing out the big six here, we've got an earnings alert on united. let's get to phil lebeau with the numbers, hi, phil. >> hi, kelly. united airlines reporting earningses of 1.20 per share. that beat 1.08 pe

mr. buffett and what matters is it's post the meeting. we can ask about all the news flow from it along with bill gates, who is a board member. when he's saying people are immature and stupid for asking about coca cola investments, have you to listen to what else they are going to say. plain-spoken, very smart. richest men on the planet. back to you. >> i like when he said this country can't be stopped. that's wonderful. thank you so much. >>> and -- >> well -- >> there we go. live television. >> go ahead and take this. >> no problem. >>> it may not be the most exciting topic to talk about. trade deals. where exactly each republican candidate stands on trade. obviously it's been something donald trump has been talking a lot about. but what do these trade deals mean to your wallet? your pocketbook and potentially, your jobs? we break it down coming up. the e-class has 11 intelligent driver-assist systems. it recognizes pedestrians and alerts you. warns you about incoming cross-traffic. cameras and radar detect dangers you don't. and it can

mr. warren buffett doesn't know. the people who are making stock price quotes don't know.he leading economist in america doesn't know. he must know something nobody else knows. i don't know where he gets this information but maybe he's getting it from people whispering in his ear. if we are heading for a recession, he doesn't know. there's no sign we're heading for a recession and if we are, he doesn't know and there's no way he's going to be able to fix it. cutting taxes is not going to fix it. renegotiating trade deals with mexico and china is just a way to start a gigantic recession. i mean, this is a very scary thing. by the way, your previous guest was saying he's tired and needs to rest. maybe he could take a few days of rest, talk to some economists who are actually sane, and get some ideas about how the real world works. his ideas are just bouncing off the moon. >> clearly economic forecasts don't square with what he said. he had to have known economists would come out to set the record straight. isn't it a risky move for him to say these things then in that case?

a top candidate to replace warren buffett as the ceo of berkshire , jain.y is expanding a replacement has not yet been named, but they will have that person report to mrin. the headquarters and research campuses at dearborn michigan. no word on how much more will be spent in the next 10 years to rebuild and improve the nearly 7.5 billion square feet. your business flash update. as we head to a break, we have a live shot in washington, where house speaker paul ryan is expected to speak at any moment now. ryan is planning to officially, again, but officially rule at any bid for the presidency. he has made this comment before, but he is expected to make his announcement on this tuesday afternoon. we will bring you the highlights on bloomberg tv, and you can check out the bloomberg live go. ♪ carol: welcome back to "bloomberg markets," everybody. i and carol massar. to step ups expected to that podium at any moment now. that is from the rnc, and he is expected to rule out any good for the president. it looks like we are beginning asbegin that process, and mr. ryan stepped up to that podium, we will take you there. stocks in rally mode today as crude pushe

buffett to other -- anyway. but -- >> why haven't you been able to get it done? >> two reasons. one is that we haven't had the -- because of -- as i kid the president. i say, mr. is landing on your desk but locusts. we haven't had the clear space to do nothing but talk about how unfair the tax system is as it relates to the tax expenditures, loopholes we want to eliminate. consequently what happens is a lot of people can go home, if you're a republican, and say these democrats are just going after business. well, if i sit here and explain to everyone -- i don't have to. your camera crew and everybody is bright. and i say let me tell you what carried interest is. this means you're making -- you're paying at 30%. they're paying at 17%, and they're making -- some of them made a billion dollars. 28 made a billion dollars. do you think that's fair? well, maybe, if they do something super special with that billion dollars that makes it -- that's why they should be rewarded. they're playing with other people's money! you know. what you do is you charge for -- if you take a risk to start a business and you make money, you pay less taxes, because you took a risk. you u