roubini 2020. much more to talk about with nouriel new roubini -- nouriel roubini. please stay with us.♪ ow tom: this morning, forget $200 billion of goods, your new taxes $20 billion becoming $50 billion -- who knows? taxes. million in new no word from beijing, but they will retaliate. quiet markets as the turkish lira weakens. mr. erdogan distracted as he and demilitarizeeed to syrian border. and the perfect 2020 storm -- we look at it with professor roubini. in new york, i am tom keene. in milan, francine lacqua. what did you learn in milan? francine: i learned, first of all, that there is a little bit chiefst among european executives that u.s. investment banks are stronger than them. i also learned from david herro that he is adding to some of the earns in europe because he sees they have a. and not everyone on my panel useful a ship that is for banking unions. sewing ofeving -- deutsche bank has comments as well. sebastian: the president has ramped up the trade war with china. the u.s. will impose a 10% tariff on about $200 billion worth of goods on china next week. beijing vowed

joining me to discuss, economist nouriel roubini. he's called by "foreign policy magazine" one of the top 100 global thinkers. he predicted the 2007-2008 housing collapse. you have concerns about where we are on the horizon. but characterize where we are in terms of the economy. >> the economy in the u.s. and globally is doing well. next year the will be slightly less than 2%. but i expect a slowdown and likely a recession by 2020. the next two years things are fine, but then we'll have a significant slowdown in growth. maria: why? where -- how do you get there for a slowdown and recession in 2. > in -- in 2020. the third quarter looks like around 3%. the economy is growing around 3%. this year and next year, 1% of gdp. consumer confidence is better and business confidence is better. but most of of the movement from 2 to 3. the way they designed it to 018-2019. and it's a cliff. the stimulus goes away and the beginning in 2020. and it will get bigger and bigger by 2025. the 3% pushes you below 2%. around 2.pay the, and 1.pay the by 2

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nouriel roubini joins us as well later today. don't miss that at 11:00 a.m. u.k. time.omberg. ♪ matt: welcome back to "bloomberg markets." this is the european open. let's get a check of what's going on across europe. in terms of equity indexes right now, gains on the iberian peninsula, or at least in spain. can't see portugal there, with the green corner. we see france gaining 0.4%. italy up, as well as germany. it looks like a little bit of a loss in london, which is why this market is slightly mixed. indeed, ireland is down about 0.25% right now. still with us is peter chatwell, mizuof rate strategy at ho. we will send someone to rediscover portugal for you. meantime, what is coming from mario draghi, speaking at harris paris at an-- event. he's not supposed to talk about monetary policy, and he's talking about future efforts needed to reduce npl stock. that line is interesting. it goes to the heart of the concern around italy, around the banking sector there. see any movement on that story soon? peter: i don't see any structural impetus behind it, for the banks to b

they had nouriel roubini out, dr. doom. neil: oh, yeah. >> that is always fun. >> when dr.kes a lot of appearance i start doing that with my hands, i think this market will start to run. people say oh, it can't last so long, it can't last so long. there must be a black swan out there. to dennis' point there always is. i think the market still has good legs right now. neil: i mentioned as we are going in what is going on with washington, kavanaugh drama, everyone talks about, all financial networks, news networks rivet on the hearing, i know generally i'm told smart guys like you don't focus on outside developments, what if they don't go to script? what if they don't go as expected? all of sudden what they thought was certain, he makes it to the supreme court, what doesn't happen? >> i think what ends up happening politically it will inenvisioning rate the right to go to the polls in anger on thursday in november, i don't think the market is anticipating. the market understands and expects fully the house goes to the left. that the senate remains with the republicans. propen

claudia tenney and ceo of delta will join us along former aol ceo steve case, plus economists nouriel roubini assess where we are in terms of the strong performance. first the top story right here and that's emotions running high on capitol hill, supreme court nominee brett kavanaugh and accuser christine blasey ford testifying before the senate judiciary committee offering drastically different accounts during the high-stakes hearing, watch. >> i don't have all of the answers and i don't remember as much as i would like to, but the details about that night that bring me here today are the ones i will never forget. they have been sere intoed my hemry and have haunted me episodeically as an adult. the laughter, the laughter between the two and they're having fun at my expense. >> dr. ford, with what degree of certainty do you believe brett kavanaugh assaulted you? >> 100%. >> 100%. >> less than two weeks dr. ford publicly accused me of committing wrongdoing at an event more than 36 years ago when we were both in high school. i denied the allegation immediately categorically and unequivocally,

nouriel: i don't think much is going to be left. some people say that maybe bitcoin is going to be left. francine: thank you so much. el is the chairman executive of roubiniiates. i will be here throughout the day for more exclusive interviews. nejra: fantastic coverage. qatar's economy minister has described the embargo of the three neighbors as a blessing. >> i can't tell you today that qatarbargo or blockade on by our neighbor from economists point of view is behind us. we are doing excellent. in fact, from an economist's point of view, it is a blessing. met our we reached or growth target, which was 1.6%. our total export increased by 19%. total trade was increased by 16%. total surplus increase by 48%. thatorld bank will expect qatar will be the highest growth in the region, 2.8% or 2.9%. 2022.il growths a huge opportunity. matt: the drop we have seen an emerging markets assets has been a huge story 4s. has that affected your portfolio? the drop in emerging-market assets? when you look at emerging-market equities, currencies, the problems from argentina to seeey to indonesia, do you kleinsose falls under and prices, opportunities to go in and pick up