p. david bull, thank you very much. thank you and thank you for watching. we're going to take a break. we're back in half an hour. the, who's the join me every 1st aid on the alex simon show. and i'll be speaking to guess in the world, the politics sport. business. i'm show business. i'll see you then. me the i am i guys are, this is the cause report summer solutions where we focus on the solutions. not so much. the problems, stacy, right. we are joined by jeff booth author of the price of tomorrow. jeff, welcome to summer solutions. and i want to tell you that we've been discussing over the past few weeks. michael berry, the well known hedge fund manager, star, you know, the subject of the film, the big short. he recently warned of hyperinflation and is shorting us treasury's standard and our legendary head to a manager, as well as warning of very high inflation and is shorting the us dollar. janet yellen, however, says there will be no hyper inflation and you kind of agree with yellen, probably not for the same reason. but tell us why what your position is, in terms of you see deflat

commentator anthony, whether he's in the middle and then on the right that we have doctrine form an e p, david pool, and you're all very welcome. dave. if i could start with you, isn't it a good idea just to encourage people to get this back seem regardless of how you do it. yeah, of course. absolutely. i'm pro people having the same, but this is yes. and now the, you turn from the government and i've never seen a government do so many you 10. now back in february, in the teams, the hallway is the vaccine minister. castleguard. he said we would not need co fit passports. and clearly what is happening is that big clubs and bars and restaurants are going to be forced to use these coven passports to allow people into entertainment venue. and the real worry for me about this is you're going to create today's society as you were saying in that package, there will be those people who com to have a vaccine for medical reasons or maybe for their own reasons, or maybe because they younger and they haven't had that practicing invite yet. there is therefore going to be a to to is this is, i see those peo

. >> dollars a p i equity budget state assemblymember david chiu and phil tamed stood alongside the founders. i hate friday to announce the newly allocated funding designed to ensure the a p i community is safer. what we're announcing today. >> is a historic unprecedented investment in communities to combat the hate to combat the violence and move us for. >> of the 156 million dollars in state funding a 110 million will be put toward a p. i victim services and prevention, not just in the bay area but across the state and the states not just providing money. >> on top of that, we're doing additional data collection on racial equity because even even with the 6,000 incidents. i've always believe that that's probably only one percent early, 10% of what's going on that we're doing more data collection. through. you see riverside to make sure that we get a really full picture. >> while p i hate has skyrocketed this last year it's nothing new. this is how we're going to combat anti-asian hate and how with a 156 million dollars. this may not. and but it is certainly an incredible step forward among

. >> dollars a p i equity budget state assemblymember david chiu and phil tamed stood alongside the founders of stop a p. i hate friday to announce the newly allocated funding designed to ensure the a p i community is safer. what we're announcing today. >> is a historic unprecedented investment in communities to combat the hate to combat the violence and move us for. >> of the 156 million dollars in state funding a 110 million will be put toward a p. i victim services and prevention not just in the bay area but across the state and the states not just providing money. >> on top of that, we're doing additional data collection on racial equity because even even with the 6,000 incidents. i've always believe that that's probably only one percent early, 10% of what's going on that we're doing more data collection through you see riverside to make sure that we get a really full picture. >> while p i hate has skyrocketed. this last year it's nothing new. this is how we're going to combat anti-asian hate and how with a 156 million dollars. this may not. and hate, but it is certainly an incredible st

ex-communicated from the union how the civil war created a separate catholic america and editor of david p. conningham's soldiers of the cross the authoritative text the heroism of catholic chaplains and sisters in the american civil war. and he has recently published an article in the albemarle county magazine titled black virginians and blue the untold stories of albemarle counties us colored troops. please join me in welcoming, dr. kurtz. thank you very much gary for that introduction. thank you all for being here today. it's very exciting for us to finally get to show you the website. and here it is. we've given so many talks about this project. we've just heard a wonderful talk from dr. veren and so i'm just going to give you the the basic tour of the website so that we can get to your questions that you might have about the what doctor veron said or about what i'll show you right now. so black virginians in blue is is a project that started back in 2016. i want to say it was dr. veron's idea. in fact, and it benefited from some early research by a local historian the guru of all thin

another, a political talkers are i p can and joy and neil, but david can lifestyle talk live again. must talk radio. just be this on your trump railway. we now here know if it has to come back. there cannot be the same drum roll on and on and on and on. even if you buy into it, even if you believe it, even if you love it still more to life and just that. and if radio is the great entertainment media, that it is, and it is, and we have to get broader, we have to be able to provide all kinds of lifestyle issues that affect everybody. it's arguable that a virus is not political. now, it became political. but the fact of the mattress people still needed information in didn't matter which political party they felt they are affiliated with. the fact is that the wife continues with many, many tentacles coming out from r b. and where those tentacles reach will be determined by what receptors are out there. if there is talk radio receptors out there and they're willing to take him lifestyle issues, important issues, by the way. it's not that politics is the only important issue and everythin

. >> dollars a p i equity budget state assembly members david chu and phil ting stood alongside the founders of stop a p. i hate friday. >> to announce the newly allocated funding designed to ensure the a p i community is safer. what we're announcing today. >> is a historic unprecedented investment in communities to combat the hate to combat the violence and move us for. >> of the 156 million dollars in state funding a 110 million will be put toward a p. i victim services and prevention, not just in the bay area but across the state and the states not just providing money. >> on top of that, we're doing additional data collection on racial equity because even even with the 6,000 incidents. i've always believe that that's probably only one percent early, 10% of what's going on that we're doing more data collection. through you see riverside to make sure that we get a really full picture. >> while a p i hate has skyrocketed. this last year it's nothing new. this is how we're going to combat anti-asian hate and how with a 156 million dollars. this may not. and hate, but it is certainly an incre

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with the s&p 500 up 13%, year to date. david? >> rebecca, thank you. >>> next here tonight, the biden administration in a dramatic move, rallying its european allies to accuse china of working with criminal hackers as well. in a massive breach of microsoft's servers last spring, and businesses around the world. the accusation similar to the claims made against russia by the u.s. but so far, no threats of u.s. sanctions against china. china denying the accusation. >>> now to the countdown to lift-off. jeff bezos on the eve of his historic flight. and tonight, the 82-year-old woman about to be one of his passengers. she studied to be an astronaut in the 1960s, and she's finally heading to space. here's gio benitez. >> reporter: with a fist bump, jeff bezos and the crew of three are suited up. >> feels good to be in a flight suit. >> reporter: just hours to go until that launch tomorrow morning. blue origin has conducted 15 successful test flights, but never with a human on board. bezos, his brother mark, 82-year-old wally funk, and

see s&p -- tsmc gross margins missed estimates. david: let's look at markets.theast asia -- in a couple of minutes, we will talk more about the virus situation. in vietnam, the numbers are surging, as you can see from what is happening on your screen. the market has already fallen quite a bit. we're looking at the first couple of minutes in vietnam, the ho chi minh index. we can talk about malaysia and indonesia, which just opened as well. so far, we are not really getting that sort of inelastic reaction you would get six or 12 months ago. we are up by 35%. that is about an 8% or 9% drop from the peak. also coming up anytime now, the next couple of minutes, is the bank of japan. rate decision, we are not expecting a lot to change. they are well short of their inflation target. that is one place where inflation is not an issue. we are headed to the lunch break in tokyo. we are starting our blogs to give you some context come up with numbers and analysis from bloomberg expert editors. keep it here. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustr

p 500. this is called the filibuster. davidostin of goldman sachs going into last weekend, i think we are at 180 days now without a 5% drawdown. so drumroll, could this be it, the tech earnings coming up a little bit later? put it on a plate for you. go on. . lisa: thank you. the filibuster is if anyone wants to get on the show, just send us an email that says jon is right, and you will come on this show. so you can keep filibustering now. [laughter] jonathan: if i had to call this market the way julian had to call this market, i would be absolutely terrible at it. better off asking the questions. the s&p down five, -0.1%. from new york city, what a lineup we've got for you. big tech reporting after the close a little bit later. we have apple, or soft, we have alphabet -- apple, microsoft, we have alphabet. this is bloomberg. ♪ laura: the two koreas have agreed to rebuild ties. that could lead to a possible opening for president biden to push for a breakthrough in nuclear talks. north korea's kim jong-un and south korea's moon

david: the dow, s&p 500 and nasdaq all closing at new highed today following the steepest lost in threeks. today's bounceback pushed the major averages into the green for the week, up for a third week in a row. >>> well, the cdc releasing new guidelines for schools, but the rules are not relaxed for everyone. wait until you hear this. ♪ ♪ knowing he'll be okay. goes a long way. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. rush hour will never feel the same. experience, thrilling performance from our entire line of vehicles at the lexus golden opportunity sales event. lease the 2021 is 300 for $379 a month for 36 months. experience amazing. for $379 a month for 36 months. hi, verizon launched the first 5g network, and now we want to be the first to give everyone the joy of 5g by giving every customer a new 5g phone, on us, aha! old customers. new customers. families. businesses. in-laws. law firms. every customer. new 5g phones when you trade in your old ones. and if you're not a customer, we'll help cover the cost t

david: the margins of the s&p have been superb for well more than a decade. 12% net margin for the s&or technology stocks. technology companies are always vying to attract talent, but i do not think you have the wage pressure that you see at lower end pay businesses. in the real economy where there are some -- supply chain shortages, digital businesses are meeting demand fine. and it comes to the most important ingredient about nhhzí digital one, semi conductors everything, that is what is in demand and we see pricing power and volume demand for semi conductors and it is about delivering it. the tech companies are better positioned when it comes to supply chain shortages. romaine: that is a rational case to be made. we are having this conversation at a time when regulatory concerns are swirling in the u.s. and abroad, and now apparently in asia. i am wondering if that has to be modeled in some way into these outlooks? david: it is a good question. i think there is an opportunity in eastern technology, china technology stocks right now, i think the opportunity is too big to ignore. whi

those multiples, david, right now even at 20, 21 times for the s&p 500, that multiple is under some risko you. >> remember when tractor supply was the key to this market. >> tractor supply is a fantastic company and it's also the key to people who move out, the hybrid people who go to the country, and that was a fantastic quarter. very little volume. >> yeah. >> before we head to break, let's give you another look at a one-week chart of the ten-year note as we pointed out, of course a number of times this morning, the yield is down you can see dramatically, 1.21 this of course also amidst that fall in stock prices by the way, let's finish with a two-month chart of the dollar i think -- index there you see that coming up right there, just down a bit we'll be right back. ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory. no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm.

david westin. guy: union to the cable show -- tune in to the cable show tonight. bloomberg radio. s&pp. nasdaq is up. have a great long weekend in the united states. we will be back on monday here in europe doing it all again. looks like it is going to be a great we this is "bloomberg." ♪ this is "bloomberg." ♪ can in tanglewood. ♪ can in tanglewood. ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. >> from the world of politics -- >> get it done for the american people. >> to the world of business. >> i do think there will be some tax increase down the way. >> this is balance of power with david westin. ♪ david: welcome to "balance of power." big numbers out for the jobs

david wilson. what do we have? dave: what we have is the comparison between the s&p 500 and its 200 a moving average.t indicator for more than a year. stephen sutton meyer at bank of america ok look and saw what happened historically when the s&p 500 stayed above the 200 day indicator for the entire first half. eat some 34 cases going back to the 1920's when that happened, and only 13 of them actually managed to stay above the moving average for the entire second, so you have the potential for some dollar weakness. tom: so i should go to cash? dave: i am not going to tell you what to do, tom. tom: got it. thank you. anything else you would like to add to this? dave: the average is 13% higher. that is how much the s&p 500 was about this moving average because if you look friday, it was also 13% higher. that has kind of held up. that's the question of when things catch up between where the s&p 500 is now and what the trend has been over time. lisa: i was noticing in the "wall street journal" oracle this incredible x -- article this incredible x petition for profit increases. this is according to facts

good morning, david. 12 points difference in the s&p.r is, modest response. the sector, defensive tone with consumer staples, health care leading early on tech up slightly banks typically weak happening going into earnings season the week before and week of earnings season banks sell off even though the bank numbers are overall excellent. very toppy airlines slowly trending downward this is in-line with a sort of peak reopening story united's weak with a downgrade at one of the wire houses and other airline stocks also weak royal caribbean, hotels on the down side. earnings season starting key story here is very, very high expectations. normally we get these numbers. analysts have numbers, expectations in theory, mother of all earnings reports here. talking earnings for second quarter 65% above second quarter of last year those numbers are absolutely huge as this seeing a big, big move whisper numbers 80% year over year remember, gone, now back again underestimating actual numbers and anticipating really huge numbers coming in. so far th

jon moeller will become the new ceo of p&g moeller worked on the consumer goods company since 1988 when hired as a cost analyst for the food products division david taylor has been ceo since 2015 and marred with a proxy battle taylor was victorious from, but lost a board seat. he has been at p&g since 1988. his entire career. >> i remember my father worked for decades at the same company. there is more portability. it is good for workers >> i have been here 19 years in november i can't believe time has flown >> bertha, you won't know it by looking at you have a great morning see you later on. >>> president biden is laying out strict guidelines for federal workers as the delta variant is laying havoc on the unvaccinated we have tracie potts with more >> reporter: dom, the president is saying use your covid money to get the shot. he is suggesting $100 as incentive to get the shots in arms he laid out the plan for federal workers and contractors. we're talking as many as 10 million people that they would have to attest that they have had the vaccine or they can't travel for work. they have to social distance and wear masks and test up to twice a wee

p as well. we need david larson, looks to me like this is a summer melt up led by big tech.a month ago, a nice period this summer. coming off the monday drop we saw a big recovery against most sectors of the market, not all those names are acting the same. some are doing well and some okay and some poorly. i think it is a broad market doing quite well right now. stuart: is it a melt up? is that fair to use that expression? >> to the extent that a melt up means a bubble that ends up bursting, i don't think we are there yet but everything going up together and i am concerned as i have been for some time that you will get a melt up doesn't end well, some of the more speculative parts of the market. stuart: it is a lot of fun on the way up. granted there is a way down at some point but on the way up you have a lot of fun or at least i am. we love the dividend plays that you give us. you give us stocks that pay a high dividend and the rising dividends. i noticed the first on your list today is ibm. tell me about the dividend. >> hopefully you heard something this week because the

we thought david kostin was a crazy man at 4400 on the s&p 500 . we are at 4400 now going into tuesday. tom: it does go back to the reaffirmation of earnings. when you suggested apple, microsoft, alphabet, google, the rest of them really matter to the empire s&p 500? -- would you suggest that apple, microsoft, alphabet, google, the rest of them really matter to the entire s&p 500? jonathan: i would. right now we are at 1.2954%. tom: washington almost with another stimulus in the infrastructure. mentioned that wonderful idea on labor participation. it is two americas. lisa: it is eking its way through washington, but not fast enough or some people. tom, you said you were in cash. so was everybody else. numbers coming out showing $17 trillion of deposits. this perhaps supporting all asset prices. what indication are we actually getting at this point from markets? tom: overnight repose, but i call the trust market, that very short term paper up a little bit to go through $1 trillion would be a huge deal. let me do the real yields here. the 10 year rea

david: we should a graphic to your point. there's europe and s&p. japan is nowhere to be found. what about e.m.? india and southeast asia, something that has come up in our conversations. >> we are selective on the just like i said on china, we are more positive on onshore hs rather than offshore markets. for southeast asia, we like select orchids. it is also quite controversial given it is highly sensitive to the pandemic. we do think it is a good recovery play. if you think it will help contain the pandemic and we think that thailand would be an interesting story. david: do you need to revisit that assumption that the recovery trade will continue? >> we constantly monitor the progress so absolutely. david: jp morgan, head of asian equity strategy. vonnie: beijing is keeping an open mind on g7 talks aimed at reining in trade abuses like forced technology transfer and trade distortion. china says their scope for an agreement hopes it will be adopted by wto members. if they cooperate, it could be the most significant trading reforms since 2001. president joe biden is toughening u

david faber. record high for the s&p today as q3 begins. s&p going for six straight wins.ry ism out a couple moments ago rick santelli. >> yes, ism on the manufacturing, this is a june read we are looking for a number below 61 close. 60.6 a little bit light 60.6, that is the lowest level going back to january, actually. january when we were 58.7. so a bit of a digression the high-water mark has been march at 64.7. remember anything over 50 is expansion. these are still solid numbers. prices paid zooming. 92.1 historic number. new orders, 66.0 and finally, considering that we have the big employment report tomorrow, it's very interesting to notice that the employment index dipped under 50. 49.9 49.9 we haven't dipped below 50 since november when we were at 48.3. this is not a good dynamic in front of the employment report i understand we seem to have a lot of job openings. we seem to have a lot of people. we can't seem to put them together and quickly, construction sending out also, down 0.3 of 1% we were expecting the other way. last time we had a number this big was febru

david. stocks were down. the dow off 260, the s&p 500 dropped 37. nasdaq fell 105. ♪ >> shannon: breaking tonight, pfizer says it will seek authorization for a third dose of its covid-19 vaccine. the company says another shot could dramatically boost immunity and possibly help ward off coronavirus mutations. research from multiple countries shows the widely used covid-19 vaccines offer strong protection against the highly con take just delta variant. but virus-fighting antibodies naturally weaken. wane. antibodies jump after a third dose. calling on u.s. olympic committee to call out athletes who get political. first, here is what some of our fox affiliates arranged the country are covering tonight. fox 5 in new york: michael avenatti has been incidenced to 20 and a half years in prison. the controversial lawyer found guilty last year on charges he tried to extort up to $25 million from nike. avenatti will also face unrelated fraud trial in los angeles as well as a separate trial next year in manhattan where he is charged with cheating his former cl

p 500 these days. that is as the dividend yield comes down. tom: davidhave to leave it there as we go to massachusetts. this year, a different boston pops, they travel to their hollow ground. there is no question the most historic summer place in america for classical music. romaine bostick is --, it was a final concert among other things, and you will grace his presence this weekend. romaine: i'm honored to be here. this is the summer home of the boston pops, their venue, tanglewood. on the stage behind me, in a couple days, we will have a real star-studded event. a legendary soul singer and a new breed of singer out there, jazz, standards and everything in between. they will be under the helm of keith lockhart, the conductor of the boston pops here. a big celebration of our nation's independence, but also, a real celebration of our reopening. this will be the first major event at tanglewood since the pandemic shut everything down. there's a lot of excitement here, a lot of people want to get out and want to be with their fellow americans and they reall

david george, robert w baird senior research analyst. jonathan: 4368 on the s&p.rom new york, this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. united arab emirates has resolved its standoff with the open bus coalition. a delegate tells -- the opec+ coalition. a delegate tells us the deal will get a new reorder. if the compromise is ratified, that the -- that opens the way for more oriole being pumped -- more oil being pumped. it will have impact on every corner of the economy, from how people heat their homes to the cars they drive. every industry would be forced to cut pollution by at least 55% from 1990 levels. you can -- new combustion engine cars would be illuminated. democrats on the senate budget committee have agreed to a 3.5 trillion dollars spending plan that would expand medicare and provide more generous childcare benefits. the legislation would carry most of president biden's agenda into law. the agreement is a win for budget chairman bernie sanders. he has pushed for that expansion. an increase in iphone shipments this year. th

david: i think it is. you look at operating margins for the s&p 500, the earnings reports that have come to the door thus farand effectively have of companies are acknowledging downward pressure on margins or get the other half of companies are knowledge and upward pressure on margins. you have the sell side calling for further margin expansion, and everyone on the buy side worries that this can't be sustained, so to me, the margins will set us free. as we get more clarity from management on what they plan to do, i think that will make the earnings picture very clear, and that will be useful in terms of how to allocate per folios -- allocate portfolios in the next few months. alix: thank you very much. some breaking news here, boeing stock by about 1%. an announcement they will deliver airplanes with 100% sustainable fuel 2030. that is interesting because the current plans offer biofuel right now, but there's not a lot of supply. what is that sustainable airplane? is it an easy kind of plaint -- an ev kind of plain? that is the next question in the market, but you need a completely different plane to do some

assembly members david chu and tilting our founding partners of the stop a p. i hate coalition this morning they talked about disturbing crimes here in the bay area, some that have resulted in injuries and death. money from the state budget will help nonprofit organizations that have been at the forefront of providing support services to victims of hate crimes. the money will also be used to address the causes of anti asian racism. now, some speakers today said that they feel the asian community is under attack. they say it's important to protect asian elders and provide support. victimsfamilies karl chan with the oakland chinatown chamber of commerce, said he himself has been a victim of a hate crime. i know that the family's been telling me they are so afraid every single day and when they're when they're children when the elderly are on the street, they're also worried and hopefully hopefully that they will come home safe. people have been attacking again our seniors and that cuts really close to home. i mean, it's we all experience. sit vicariously when we

david rubenstein. tonight's episode features jp morgan members. before we get to that, i want your take on these markets. europe, bigger than 3% drops. here on the s&p wiped off. not a huge amount but it has happened four times this year, and it looks like retail have boosted us back up to new records. what is going on? david: markets are obviously volatile but markets are up over all. when you consider how much they are up over the past two years, it is scattering -- staggering we can go up more. i would worry more about the markets when you see a sustained drop that goes on for several days. that is not likely to happen until you have an interest rate increase of some type or something that happened in congress that makes people worry about what congress does. i'm not worried about the market going up or down 500 points in a day. matt: it is all about rates and taxes. david: and general overall economic environment. no doubt covid is a factor, it went down yesterday because of the delta variant, but right now i don't think markets are affected by covid as they are with interest rates, what will happen in congress. amber: to matt's point on retail

david waddell, chief investment strategist at waddell & associates. amanda: we are watching markets put on a pretty positive display here across the s&p 500.road advances, most of the subgroups in positive territory. only utilities at last check moving lower today. financials rocketing higher p hops -- perhaps because of a possible move in the yield curve. 1.35 should be a big move. almost a 5% swing in the price of treasuries, so we are seeing reaction in parts of the market. we also see energy and materials be positive. as you note, tech is not suffering, despite the fact that that executive order may have implications across the u.s. industrial landscape. for what it's worth, the leak of this executive order focused on the rail and ocean freight industry. they are named in this sweeping order but are not the real targets. we might agree that the competitive forces in general would have investors and big tech taking the biggest second look. they might be waiting to see what comes next. what is on paper and what ends up being fact may be different. matt: absolutely. we saw this under president trump as well, a more erratic push against bi

p as well. so there is a lot going on today that we are still not clear about. david: a perfect example of the redistribution of wealth narrative that's taking place. were closing on $700 billion now in the asian sector. markets taken away the future earnings isn't going to benefit the regular chinese consumer, it have a look at some of these funds, as you can see the performance has really tanked, especially with these heavily weighted stocks on these benchmarks. rishaad: one analyst drawing down her ratings as well. one etf with 3.2% of chinese equities. compared to 8% in february. not exactly a thumbs up, is it? yvonne: do you ever wonder what is the motivation behind this? this seems to be about more than national security and data sovereignty. this is about narrowing the inequality gap. it's about improving the lives of people that have a lot of pressures when it comes to the cost of education, especially for their young ones. here's what we got from our guests in the last 24 hours on this issue. >> we are on the verge of having platforms and companies that are s

p -- period, paid for over a 14 year period. if the republicans come back with a different rate, i am sure we can find somewhere in the middle. david: your job is to be a liaison with the business committee. what do they say to you? did they say i don't want a higher tax increase but i can live with something but don't quote me? gina: some have been for it. microsoft, salesforce, a number of companies have come out for it, in favor of the jobs package. others have said there are to be an increase in the corporate tax rate, everyone seems to agree that it is wrong that we have so many companies that paid no taxes last year and we have to close loopholes that enable that. a lot of people, maybe they feel 28 is a bit too high, 26, 27 might be a better number. but i have made dozens and dozens of phone calls to ceos across industry. they agree we need big investments in infrastructure. they applaud the president for calling for not just traditional infrastructure but they like the investments in research and development, broadband, technology, semiconductors and they know that higher corporate taxes are a way to pay for it. david: peop

get back to the markets. 10:04 eastern time a rally for the dow, nasdaq, s&p, not huge but it's a rally. davide past year. that is strong inflation. you're not worried about it, are you? you agree with the fed it is transitory. >> i'm very worried. it is not about inflation. what the bond market is telling us we're in for a long period of low growth. this excessive government spending is not inflationary. it is like japan. it is really disinflationary over time because it contradicts productivity growth. that is what i think our economy most needs. the ppi was mostly from energy related, very low prices a year ago. it has pushed things higher. there are pockets of inflationary pressures that concern me but the big term issue, i want to focus on is getting economic growth for the next five and 10 years. stuart: how do we do that? >> well i mean the playbook in history is very clear. you need rest regulation and taxation of the economy but i don't say that politically. i say that as an economist. economics are incentives. you need to have incentives for productive growth. but all that we get in

david hardin. thank you very much. as we head to the bell here, the dow and s&p, yes, they are closing in positive territory, just nasdaqown." "kudlow" is next. ♪ larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. senate democrats appeared to have agreed on a $4.5 trillion budget resolution, that includes 3 1/2 trillion dollars ultimately targeted for 51-vote reconciliation. i wouldn't exactly call this a blessing in disguise. let's first hear from hillary vaughn live on capitol hill with the facts, the facts and the details. good evening, hillary. reporter: president bide was he o

my colleague david kostin has been saying for a while now that he thinks that fair value for the s&ph where we are. one more point, and that is when you have fair value, there's no margin for error. if there are disappointments beyond interest rates, disappointed on opec, for example, over the last few days, that is when you start to see a big increase in volatility within the market itself. tom: so many would say that none of what we are living right now within your economic:.uó at cornell a few years ago. for example, and i do this for my colleague jon ferro, how do you respond to the confidence to invest given this colossally odd negative real yield? abby: great question that we are asking ourselves as well. the answer is very carefully. we are in an unprecedented period both with regard to an extended length of time for these negative real yields -- by the way, they have been bigoted real yields in europe now for quite -- they have been negative real yields in europe now for quite some time, and also with regard to nominal interest rates, so when we run our models , we are lookin

david kelly of jp morgan joining us as well. your equity market not doing much today. seven points on the s&p 500.ng a little more than .1%. the dollar breaks down a little bit. back down through 92. on radio and tv. i will leave the space for you. are you good? tom: didi. jonathan: you enjoy your time off. i will see you monday. lee-ann: the $550 billion infrastructure passage has cleared its first area of capitol hill. the senate voted to begin consideration of the bill. 17 republicans joined all democrats in voting for the measure. lawmakers expect the final passage to last into the weekend and even next week. the new chair of the federal trade commission is bowing to return the agencies trust busting roots. she told reporters she intends to use the fcc's -- the ftc's full arsenal to take on companies that prevent competition. she is not afraid to take on risky cases officials have shied away from in the past. china may be preparing for a period of prolonged tension with washington. beijing's new ambassador is a veteran diplomat known for pushing back against western criticism. they most recent

david, major averages all under pressure today. looks like the nasdaq is down 1.6% the laggard in this market the s&p is down 1.5% and the dow is at session lows, 503. that will do it for us here on "squawk on the street" "techcheck" starts now >> bonds are what holds the physical world together or hold us together. >> yeah. yeah, i know i got it bonds. ♪ >>> happy thursday welcome to "techcheck" coming up on the show today stocks sell off. tech just leading the major indices to the down side plus google faces anti-trust, dozens of state ags including the a tech giant >>> we start with stocks tech and the broader market selling off this morning, back near loss of the day nasdaq on pace to snap a four day win streak down 1.5%. less than stocks are green but to keep things in perspective here stocks are still trading at higher levels than two weeks ago s&p the biggest winner since june 24th. hostile chinese government worrying investors u.s. listed chinese stocks they don't selloff this morning take a look at didi, falling $14 ipo price, 20% below its debut let's bring in mike santoli. help put us in this context where we were rough

p. 's to properly hold the prime minister and government to account to ask the tough questions. this thing that what we might see going forward is more opposition from outside parliament. david chin is a professor of international relations, a george washington university. he's also a former us ambassador here. he says it remains to be seen if the conflict and he will come back to hurt of the element. i think it's a little early to judge, you know how it's being viewed both internally and. ready and in the international community, i think it is a success qualified success or prime minister ivy. but with some caviar acts, and that is the fact that about one 5th of the constituencies did not participate in the election for either technical or other reasons. you had a boycott by several key political parties and there have been some 207 complaints about the election. but nevertheless, there was a high voter turnout and it appears as always, totally peaceful. the election, of course, took place before the military defeat and t gray. so we had no impact upon the election remains to be seen. what people think about the problems that the government now faces and great that may come

drug adviser david not pictured smoking cannabis on facebook was published on 14th november 29 on mail online following a story that originally appeared in the sun. a complaint made to the p b. c, that professor not son was smoking, a roll up not a joint in the picture was resolved on the grounds of headline accuracy. and the article was removed from the site. 2 days later, the levison inquiry took place in 20112012 you can find that full interview and everything from heroin to covey, with one of the world's top newer psycho pharmacologist on our youtube channel. well, the country infamous for opium production has been lamented on native nation media in the past few days. this after us troops ran from afghanistan on the cover of night. joining me now from dubai. he's got his sons, former ambassador to both china and pockets. son, ambassador john moses, i used to speak for afghanistan, foreign ministry, and is now vice president of the hard to major society about so thank so much for coming on. so they left in the middle of the night. i don't know what african authorities even thought about the fact they hadn't told the come on this on the u . s. base in afghan, it's done.

drug adviser, david not pictured smoking cannabis on facebook was published on 14th november 29 on male online following a story that originally appeared in the sun. a complaint made to the p b. c. that professor, not son smoking a role up, not a joint in the picture, was resolved on the grounds of headline accuracy. and the article was removed from the site. 2 days later, the levison inquiry took place in 20112012. and you can find that full interview on everything from heroin to cobra, with one of the world's top new or a psycho pharmacologist on our youtube channel. well, the country infamous for opium production has been lamented on native nation media in the past few days. this after us troops ran from afghanistan on the cover of night. joining me now from dubai is that kind of sons, former ambassador to both china and pockets. son, ambassador john moses. i used to speak for afghanistan, foreign ministry, and is now vice president of the hall to major society about that. thanks so much for coming on. so they left in the middle of the night. i don't know what african authorities even thought about the fact they hadn't told the come on is on the u. s . base in afghanist

drug adviser david not pictured smoking cannabis on facebook was published on 14th november 29 on may online following a story that originally appeared in the sun. a complaint made to the p b. c. that professor not son was smoking a roll up, not a joint in the picture was resolved on the grounds of headline accuracy. and the article was removed from the site. 2 days later, the level of inquiry took place in 20112012. and you can find that full interview and everything from heroin to covey, with one of the world's top newer psychopharmacology just on a youtube chat.