onlyjoined by the one and nouriel roubini.k about what you have called the rise of the machines. you write, the microchip may well replace the human brain. are we talking about the terminator here? robots going to be taking over? i hope not. >> in the long run, many things will change. in the short-term, what is happening, technological innovation is increasingly capital-intensive. say 1000 machines are 1000 robots, one or two workers manning those machines. any guy sweeping the floor right now can be replaced by a robot who can do it cheaper. >> but how -- >> i think it changes the technology and they are putting that into services that are labor intensive, whether it is health care or government or finance or real estate or retail. slowly, slowly there will be machines and software that will replace human beings. >> but haven't we been saying this for decades. i feel like you could look at a movie from 40 years ago saying, robots will take over the future, and they haven't. changing with manufacturing and services. for examp

we will be back with nouriel roubini and lee sachs.e will be speaking about the outlook to the u.s. economy. talks plus, what are liberals progressive sang such terrible things that we will look at president obama's latest appointee from wall street. ♪ >> welcome back. we are back with nouriel roubini and lee sachs. take a look at the state of the u.s. economy. we went from global to local. >> the with the economy is doing better than other advanced economies. the labor market is improving. ares a the downside of u.s. external and external. lower its base station, lower growth. as some point the fed will decide the commendation of lower global growth and stronger dollar might imply [indiscernible] >> i agree. most of what is going on in the u.s. is positive. we do have exposure. obviously, we can't be the only engine of growth in the world. we talked about what is going on in japan, china, all the other list of five plus things in nouriel's list of things we should be afraid of. itancer only impact us -- can certainly impact us and we

too little too late says nouriel roubini. >> the way alike to characterize this, the bank of england started to cut rates in october, 2008 and it took us into march, 2009 to work out quantitative easing. this is six years and counting, worked out. you must be joking. we have deflation, we have overly tight monetary stimulus. what are you doing? and try to push their currency down, what do you think everybody else's going to do? the united states mint a clear they are watching the currency. have first the plunger a really long time ago. definitely too little too late. you a big believer in the values of quantitative easing? on tanktaking action balance sheets. >> cutting interest rates and doing qe. i have the interview that bernanke did and they asked what would the point have been if the fed had an active. counter factual is huge. in some sense, you can look at there is somefull deflation coming. 10 countries are in deflation are very close to it. this is not good. >> the stimulus was hugely important. there seems to be division within the ecb. we intend rather than expected balance

. ♪ >> nouriel roubini on "market makers." most interested in the linkages of europe to america.n important conversation later this morning on "market makers." this is bloomberg "surveillance," i'm tom keene. brendan greeley and leslie picker. in on a monday for scarlet fu. welcome to the show. >> to president is disappointed in how sony handle getting hacked. george clooney is disappointed in all of us. they did not lose consumer information, they lost their own . let's take a look at a research report from pivotal research group. pointing out how what happened to sony is likely to change what other corporations do. one, executives are going to discuss last of her e-mail. you will have to stay closer to the home office. their companies, a lot of things --k revealed about things deals they had with the new york times. discussions with partner companies are going to become less full of trust. it is going to be harder to offer unique terms to each customer. it is a difficult thing to offer a premium. the idea that we will use e-mail less. it is a game changer for everybody. >> i do

referencing, the currency market, where the dollar will go versus essentially the rest of the world -- nouriel roubini us and i want to play what he said about the dollar. >> everyone else in asia, from taiwan, they are using monetary policy, and now europe and other central banks will ease monetary policy. no one wants to have their currency appreciate relative to n.e ye eventually all the pressure goes on the dollar. >> you agree with that? >> he is right. no one wants to appreciate. to continues going to move, and that has been the big call for the last few months. my only word of caution is be careful. large currency moves tend to disrupt something. you cannot have the currency market carrying the whole burden of adjustment for this divergence in economic performance and policy. something else has to come in and so far it has not. >> could it be big enough -- ascensione be enough in the u.s. dollar that it derails our momentum? >> i do not think it derails omentum as much as it causes political issues and we started talking talk again about currency wars. that is a concern if it moves too much. it

i spoke with nouriel roubini yesterday and he told me that too many of the jobs are low-paying part-timeven low-paying full-time jobs. the u.s. economist at bloomberg and the wage growth is the micro economics of job supply and demand. do we agree we are at a 2% wage growth level? >> wages have been stuck at 2%. >> three to get used to that or his or hope. 2% is reflecting a relatively weak economy to this point and 2014 it changed. that is telling us we will see stronger to come. >> brendan has the blunt instrument, this chart know the other chart. back ampensation civilian years and we are now where that green box was. remember the lake -- late 1990's with inflation adjusted as a late time for rising wages and when you look at the gdp numbers we are not where we used to be but there is a glimmer. >> can we stick with that chart for a second? we talk about wages growing per hour but one of the real stories is computer software that has allowed wave driven businesses to manage those hours down because you cannot get the hours you want. we're looking at loft it bargaining power. >> the po

decision before nouriel roubini, we will go to jonathan farrow in london. ♪ >> good morning, everyoneal, this is exciting. this is the first launch of something new for america, hearkening back to the 1960's. this is orien, now twice delayed, a boat down earlier, and now a wind violation with a window to 9:44 this morning. on top, looking oh so familiar, is a capsule for four ath naughts. it is unmanned today, as they begin the fragile testing looking out beyond 2020. the goal here, obviously to go to mars and into lunar orbit and astroid research as well. but it's a throwback, isn't it? >> it is. i want to get back here to earth. >> shall we come back to either? let's go to our top headlines as we await for orion. >> god bless you, scarlet fu. tough years ahead for europe. the j.p. morgan chase c.e.o. says they face a drag as policy makers struggle to enact reforms, while china will keep meeting short-term growth dithes. die moan was speaking yesterday in washington. he predicted yours of sub optimal growth in the region. sony pictures found the source of the sign air tack where seve