mr. kaplan was kind to mr. summers about the worry about a permanent stagnation, do you see that?ith any form of what larry summers is saying? andrew: i think secular stagnation is an extreme statement. i have been talking about a nor -- new normal for economic growth. the economies that have done the best, average growth over six years in the u.s. and the u.k. has only been about 2%. that is not stagnation, that is growth and unemployment has come down. there has not been good enough growth to create new jobs but when they talk about stagnation it is almost as if we will get no growth and i think that is to extreme. tom: what did you learn yesterday? ofand anti-inflation kind central bank, and now you have what is a self-described centrist in charge, kaplan says he is not a hawk or a dove and he changes his mind as the economic data changed. it will not be a one-way boat now. , -- a brilliant idea congratulations on that interview. we have more to talk about and so much of that is the perspective, andrew sentance as we look at global march it -- markets. ♪ the only way to get bet

mr. kaplan we'll hear from the permit holder now. >> >> john with the law enforcement of reuben, junius & rose here on behalf of the appellant a point of procedure two appeals we get 14 minutes we'll not use it thank you very much. >> so thank you, commissioners the permit before you is the final step in the process to syllable a renovation of a little on 8 palm avenue the project was originally approved in late 2014 and early 2015 and generally is exterior renovation some interior alteration were embarrassment of the windows and doors an additional garage door the enlargement of some of the decks and the excavation along the south property line for a grammar assess the original grade link the first level the down one level access to the basement now as discussed unfortunately, the excavation contractor who was hired excavated what was beyond the permit that contractor has been fired and the project sponsor is trying to resolve issues with the southern property line not differences in the technical resolutions to this problem for other reasons the parties were not able to get to a private

mr. kaplan: investors are reacting to corporate profits and expectations of corporate profits and i am mindfule fact that corporate profits in 2015 were down in the s&p. there has not been a lot said about that, but it actually declined. and in those first couple weeks in the year last year, some of the estimates last year for corporate profits in 2016 have been revised somewhat down here again, this is as much -- down. again, this is reflective of the rest of the world, as it is of the u.s. economy. so i am not surprised the markets are going to pay attention to other things. mark: and "bloomberg best" continues with another exclusive interview. we will devote the rest of the program to erik schatzker sit -- >> everyone knows blackstone is the biggest manager of alternative assets. if i ask you as number two, would you know the answer? it is brookfield. the canadian firm with its headquarters in downtown manhattan. >> this is the big complex on the water. eric says it has amassed more than 220 $5 billion in investments in 30 countries. ceo has drawn comparisons to warren buffett. >> investors

mr. kaplan: so, as a monetary policy maker, you have to watch these market moves, but you have to realize they may or may not reflect what is going on in the underlying economy in the united states. betty: well, joining us now with a view from newport beach is mihir worah from pimco. he helps to comanage the total return fund, which beat 87% of its peers. great to have you with us on our program. you just heard the dallas fed president saying that the markets may or may not reflect economic fundamentals. do they, or do they not? mr. -- mr. worah: good morning, betty. right now, there is uncertainty around what the fed is likely to do. will it hike a couple of more times, four more times, and boc is doing.he e there is some uncertainty. we do think u.s. continue to grow at a healthy pace of 2% to 2.5 percent, and that is fine, but clearly the market is unsettled right now. betty: so, have they been exaggerating or over-exaggerating the concerns -- or do you feel the markets are accurately reflecting the uncertainty you just described? mr. worah: markets sometimes tend to overreact. and at

mr. kaplan: investors are reacting to corporate profits and expectations of corporate profits and i am mindfulthe fact that corporate profits in 2015 were down in the s&p. there has not been a lot said about that, but it actually declined. in the first couple of of weeks, some of the estimates last year for corporate profits in 2016 have been revised somewhat down . again, this is reflective of the rest of the world, as it is of the u.s. economy. i am not surprised the markets are going to pay attention to other things. mark: and "bloomberg best" continues with another exclusive interview. we will devote the rest of the program to erik schatzker sit down with bruce flatt. i am mark barton. much more to come on "bloomberg best." ♪ when you're on hold, your business is on hold. that's why comcast business doesn't leave you there. when you call, a small business expert will answer you in about 30 seconds. no annoying hold music. just a real person, real fast. whenever you need them. so your business can get back to business. sounds like my ride's ready. don't get stuck on hold. reach an expert fa

mr. kaplan we'll hear from the permit holder now. >> >> john with the law enforcement of reuben, junius & rose here on behalf of the appellant a point of procedure two appeals we get 14 minutes we'll not use it thank you very much. >> so thank you, commissioners the permit before you is the final step in the process to syllable a renovation of a little on 8 palm avenue the project was originally approved in late 2014 and early 2015 and generally is exterior renovation some interior alteration were embarrassment of the windows and doors an additional garage door the enlargement of some of the decks and the excavation along the south property line for a grammar assess the original grade link the first level the down one level access to the basement now as discussed unfortunately, the excavation contractor who was hired excavated what was beyond the permit that contractor has been fired and the project sponsor is trying to resolve issues with the southern property line not differences in the technical resolutions to this problem for other reasons the parties were not able to get to a private

mr. scott kaplan who once visited the statue of liberty in 1992. let's have a listen. so, scott, thanks for coming on "monumental." >> thanks for having me, adam. >> so, put me in the driver's seat here. you get off the ferry. >> mm-hmm. >> you set foot inside the statue of liberty and what do you see? >> well, i mean, the first thing >> mmm. the steps, right, right. for those of you who aren't familiar, there are steps. >> and, and, and, more than just five or six of them, adam. there were hundreds, if not thousands of steps. >> absolutely incredible. and now, these steps, they were going up? is that correct? >> yes, yes, yes, up, up, yes, yes, up. >> fascinating. and could they also be used to go down? >> pardon? umm, down? >> yes, the statue steps? >> oh, well, it's just this once, a while ago, but if i, i believe so. i do think they were dual direction steps. >> seth: fascinating. and you know i don't know if you caught this, can we take another look at that website. that podcast was 4 hours and 33 minutes long. [ light laughter ] all right folks, let's cut to the

our first conversation with robert kaplan of the dallas fed. we will have mr. caps on with us.th us. "bloomberg surveillance" ♪ francine: this is "bloomberg surveillance". you're looking at live pictures of london. s next week will be -10 degrees celsius. tom: all that is is cold in fahrenheit, very cold. francine: let's get to the bloomberg business flash. >> anheuser-busch inbev, the biggest bond sale ever to pay for its takeover of miller. billion, according to a person familiar with the matter. dell may makehael as much as $4 billion from a government effort to buy back airwaves. michael dell has been buying independent tv stations. they plan to buy them and sell them off to wireless operators. of brookfield asset management and in an exclusive interview, he spoke with us about his firms investments and potential threats to the business. for anyiggest risk organization like ours is liquidity. scary for most organizations because liquidity was drying up. the good news today despite all the issues around the world, liquidity is generally freely available. >> you can watch mor