p. morgan and blair. that's actually what happened with j. p. morgan and the consortium of other banks did. in fact pro pop the whole iraq economy to the tune of about 2 and a half 1000000000. not 20000000000 other bit nervous that day. then 6 months after he left office, blair from a signed by a j. p. morgan for $5000000.00 every year. i was just trying to enlighten the public that there was corruption involved and not just bad decision making. i'd like to find out how this gentleman managed to access the court. there must be a back door in because they don't go to the t at the time and there was a court room directly underneath the court room. the player was in and it was left on not. so i went through that run up to so as far the fosgate i'm in to the, to the door that called itself, by this time my heart was pounding like, you know, it's really going mad. and i actually lost my courage for the moment i went and sat down in a low and a bathroom. i found the toilet that i did actually ring my mother and said, listen, i'm here. what should i do?

p. morgan, and that is j. p. morgan to pay $920000000.00 fine for manipulating precious metals . that was september 29th, 2020. and on november 24th 2020 us regulator, find j. p. morgan chase $250000000.00 for fail. i was $1200000000.00 and $5.00. yeah. ok. he gets away with it because the government relies on jamie to do things like sensor general friend in overt action of political corruption, overt political corruption, the kind that the us says that they invade countries to stop or we're going to invest. this country has been billing through and feedback going through what we need to protect when the baby. oh, here's a guy is openly corrupt and spending billions and stealing and sensory and breaking the law. but he's all we look jamie. oh, we love jamie. well, of course we do have censorship resistant money now, which is bitcoin. but in terms of this, obviously it's a hyper partisan sort of environment, especially right now in the united states where we're observing. and there are a lot of people under this article and they're really happy like house the country is super happ

p. morgan for $5000000.00 every year. i was just trying to enlighten the public that there was corruption involved and not just bad decision making. i'd like to find out how this gentleman managed to access the court. there must be a back door in because they don't go out for tea a time and there was a court room directly underneath the court room. the play was in and it was left on not. so i went through that run up 2 floors by the fire escape and then to the, to the door that called itself. by this time my heart was pounding like, you know, really going mad. and i actually lost my courage for the moment i went and sat down in a low in the bathroom. i found jane's toilet, but i did not. she ring my mother and say, listen, i'm here. what should i do? you think i should still go in? my mom said yeah, go and you will get another chance and i think that's it. i mean, augustine said that hope has to be from dollars, anger and courage, anger the way things are encourage to see that they don't remain the way they are. either wa

p. morgan but he was dissing bitcoin in 201-320-1420. 15. 20. 16. 20. 17. 2018. 20. 19. 20. 20. and now in 2021. as you predicted, he capitulated and he's saying, a big clients going to 10 x in the next 5 years. yep. yeah, yeah. jamie diamond was critical, a big claim. and starting when it was a $200.00 a coin. it's now around $45000.00 coin. it's adding as he points out 10 x from here. so he's looking for up to a point or 52500008 coin. and i've been telling you for years i had this recurring dream about jamie diamond. he would be coming toward me and a deserted match and in the hamptons, and for years he just got closer and closer. and then finally, this week he was in view. he was there on the floor weeping and sobbing, and begging forgiveness. and like a good big corner i forgive jamie and now he's one of us. he's now a bitcoin are and welcome your daughter was here a lot sooner. she's obviously got her mother's brains.

p. morgan but he was dissing bitcoin in 201-320-1420. 15. 20. 16. 20. 17. 2018. 20. 19. 20. 20. and now in 2021. as you predicted, he capitulated and he's saying, a big one is going to tax and the next 5 years. yep. yeah, yeah. jamie diamond was critical, a big claim. and starting when it was a $200.00 a coin. it's now around $45000.00 coin. it's adding as he points out 10 x from here. so he's looking for up 245-250-0008 coin. and i've been telling you for years i had this recurring dream.

p. morgan but he was dissing bitcoin in 201-320-1420. 15. 20. 16. 20. 17. 2018. 20. 19. 20. 20. and now in 2021. as you predicted, he capitulated and he's saying a bit coin is going to tax in the next 5 years. yep. yeah, yeah. jamie diamond was critical, a big claim. and starting when it was a $200.00 a coin. it's now around $45000.00 coin. it's adding as he points out 10 x from here. so he's looking for up 245-250-0008 coin. and i've been telling you for years i had this recurring dream about jamie diamond. he would be coming toward me and a deserted match and in the hamptons, and for years he just got closer and closer. and then finally, this week he was in view. he was there on the floor weeping and sobbing, and begging forgiveness. and like a good big corner i forgive jamie and now he's one of us. he's now a bitcoin are and welcome. your daughter was here a lot sooner. she's obviously got her mother's brains. but nevertheless, you're, you're welcome. i'm showing you this is max kaiser laser eyes at jamie diamond. of course, you know, i said the house that the money built is

p. morgan leonard and p s. p. investments are pouring money in just not being up family homes. financial. dr. blackstone is buying whole partners of america for $6000000000.00. the company own 17000 homes, not interestingly. the company allows tenants to buy their rentals in the u. k lloyd's banking group plans to buy 50000 homes over the next 10 years. and retailer john lewis planned to build 10000 rental homes. but there is some pushback against giant landlords. berlin will be holding a referendum in september that would allow the local government to buy 240000 properties from germany's biggest publicly listed residential landlord. while let's talk to one of those campaign is dr. joanna kusha, who is a research fellow in urban studies at kings college, the university of cambridge, and she's joining us 5 kite from berlin. thank you so much for being on the show with us. so why has the city decided to vote on seizing these properties from the company that owns them? but linda, besides, can use the power they ha

p. morgan for 20 years and i hope to bring some of that background to the fight. and i would really nice to have you in the stream introduce yourself, global audience. yeah. hello everybody. my name is dr. terry, i'm the scientist. my background. i used to work up in the tips for the climate change is impacts on the pendant frost and how that accelerates. the feedback that speed up, the climate change process. and i kind of started, i didn't want to study the problems anymore and it stayed away from the solution. so now i see research climate communications and how we can improve public understanding about what's happening and get more people in goals and taking action . talk more about that in just a moment, then. hello, welcome to the stream. introduce yourself to our dance. i'm professor rupert read. i teach philosophy at the university of the thing where i work alongside some of the world's leading climate scientists. i used to be a spokesperson for exxon, and i wrote a book called extinction rebellion insights from the inside. all right, so audience, you as y

p. morgan, hundreds of millions, billions of dollars. the fines for essentially committing financial fraud. and it's been replete in the financial sector and people say, well there's no, there's nobody getting injured. there's no, as a victim was crime when warren buffet and charlie mongo commit fraud. but this is the, this is what happens is that it sends a green light to all corporations to mimic what happens in the last 3 bags by simply ignoring the rule of law and making the constitution pay to play. so it's straight up being it's freedom of speech is a service you know, you have to pay out for freedom of speech is what they're saying over there and facebook. mark zuckerberg. so you know the jokes on america now because the status of the united states around the world. now, i can't imagine that ever being lower where you have the taliban openly mocking the u. s. and cowboy church, you left f at $85000000000.00 with the hardware here. well, you know, that's 165000 rate of return based on, you know, going back to the 911 cost of half a

p. morgan that pay an effective 4 percent tax rate. that's something the american people could get behind. and maybe steve could get behind it because, you know, i was in the reagan administration, i get the idea of getting the government off people's backs of reducing taxation. but there are some things that are worth paying for. and if biden would pick out the things green energy, you know, the, you know, having, you know, greener energy, we need it because we have global warming. if you pick out those things, scotty, i think you might get everyone's support. even steve, where did david david point steam? why is it just that simple? why can't you do just those clean things that everybody can get by and why does a washington d c ever do that what david just said? sounds like a really good campaign speech to me, but when we get up on the hill, that's not what we hear time and time again. why not? well, it's a great idea and if they let david and i work it out, i can probably get a deal done. i agree with david that there will probably

i'm kelly evans, and here's what's ahead a wobbly month for markets as the dow and s&p slide today. morgan join us to explain why just ahead the president's tax plan includes more than 80 tax hikes and changes to fund the budget, but there are three that raise the most money and have the biggest impact on corporate america. >>> and the nfl season does begin this week and a number of betting names coul

tom: wilson at morgan stanley putting a dampener on things saying it is not the central case yet, the 20% correction for the s&pis looking like more of a realistic possibility. the flipside of j.p. morgan. manus: absolutely. they are channeling their inner ellie goulding. you have asian stocks, turning to understand what an evergrande default will look like and we are starting to think that might happen but it will be contained. s&p 500 dealing with this differential between jp morgan that says buy the dip, it was a technical blip yesterday, a little more than a glitch i assure you. bitcoin down by two point 56%. you noted this morning, the dollar is overvalued. citi long the dollar on e.m. to hedge. tom: another essential story, surging energy prices in europe causing chaos, turning attention to renewables. wind speeds in europe below average this year, leading to a greater reliance on natural gas. that together with a global supply crunch has pushed gas prices even higher. a record in the u.k. yesterday. as a result, coal power plants are coming back online. some of our guests have weighed in on the crisis. >

i'm kelly evans, and here's what's ahead a wobbly month for markets as the dow and s&p slide today. morgan stanley is taking u.s. equities to underweight. they'll join us to explain why just ahead the president's tax plan includes more than 80 tax hikes and changes to fund the budget, but there are three that raise the most money and have the biggest impact on corporate america. >>> and the nfl season does begin this week and a number of betting names could benefit. we've got all the stocks to watch. we start with the markets today. nasdaq outperforming, dom, but bitcoin getting all the headlines in the past hour or so >> the trade for the nasdaq right now is interesting because it's only up about a quarter of 1% and normally i wouldn't make too much hay of this but i get to put the golden star because it hit a record interday high earlier day. holding above the 15,000 mark. the dow down about one-half of 1% 4527 the last trade in the s&p if you take a look at bitcoin that kelly was just referring to, we had a sharp drop. you can see here at one point it was getting down toward the 42,000

p, right? >> j.p. morgan and there are others, as well. john najarian, you must think that the selling is over in the market that's commodity-related stocks, related to china and whatever else because over the last two days you bought rio tinto. you bought freeport mcmorran, you bought bhp and vale. those are all down substantially over the last month. bhp is down 20% in the month vale is down 23% in a month. rio tinto is down 27% since the beginning of august. tell us about the moves that you've made and what the statement is that you're making. >> well, i think a lot of these, scott, really started getting hit when people were betting on how big the stimulus package would be and they were sort of haircutting it against afghanistan and what was going on as far as political capital so i think some of these were just overdone, and i do think that there will be demand for exactly what freeport and vale and in particular bhp and rio tinto, as well notice these weren't just gold mining plays or anything like this these were metals and minors t

p. marcus at jp morgan talking about buying into the cyclical's, the rotation is coming back, reinforcingiew that he thinks yields bottom last month. the lowest intraday of last month in early august. going into cpi, attends our 133.60. yields are up. what happens when the fed will spec? look at what this -- what happens when the fed pulls back? germany and italy, just below 100 basis points. we are doing okay even though the ecb has talked about reducing bond buying. the spread between germany and italy, still pretty narrow. just a break of 100 basis points. let's finish on this, the commodity markets. triple digit crude. i don't want to let this one rest. we had francis from the bank of america on this program yesterday talking about triple digit crude on wti. $70.98. his base case is going out to the middle of next year. he is saying if we have a cold winter, we could get there sooner. can you imagine if we have triple digit crude amidst a conversation about higher inflation in america? the fed can strip out whatever they want, you are going to feel that. tom: you sound like lisa. jona

p 500. getting your attention, morgan stanley advising the gdp tracking number from 6.5% previously. that is quite a revision. tom: it is a good precursor to get to brian. it is a 90 day one off. when do we see that? i am not sure how they can say it is a discrete quarter slowdown. >> what they expected, a sharp slowdown. they thought it would be evenly distributed. a lot of it has come through the month of august. the ongoing problem we have not worked through, demand is fantastic. supplies is not. we have seen that in every data point this year. september was important because we saw -- we thought these difficulties would ease and heal. september, in the eyes of so many people, it is so important. tom: payroll tweaks for tomorrow from -- brian, you see them bring down assad d august. how do you adjust and invest to the uncertainty of q3? the uncertainties of q4? >> we believe there would be a slow down. when you think about how disastrous the session was and how quick the recovery was, it is strange investors were extrapolating that event and you heard a lot of talk about higher in

a nice discussion around that, so keep an eye on 24,000, s&p futures just dropping and jp morgan stillive on stocks. earnings will trump any kind of taper. however we've got tax coming in from the biden administration but it's growth that will dominate. oil prices are higher. let's expand the story and discussion to natural gas and higher prices in europe. it's raising fears about supply security. good to have you with us again. >> the issue for europe and the u.k. is that there is low inventories a low wind output. this is a very fragile market and we expect it to last for some time. europe is running out of time to build up those gas resources before it gets cold. electricity is at a record high, 10 times the price it was at this time last year. the issue for this story is we're not even in the depths of winter yet. it's been a very mild september. as we get into the winter this could even worsen. but as i said, it's a fragile market, so should we have a mild winter, this in the rest of prices could plummet as quickly as they rose. for the most part, what we've seen from spain, italy

we are softer thereby a big margin compared to where s&p is right now. tom: morgantanley was a markdown on amazon. what does that meant to the end of 2022? it still advances 16%-ish, so that is a mark on their overweight on amazon. right now we overweight on what is really going on, and that is in the bond market. we start this our strong. gene tannuzzo joins us, global head of fixed income at columbia threadneedle. do you make portfolio adjustments now that we have seen this shift in the fixed income space? gene: i think this is an important time for the bond market. we didn't get a lot of new information from the fed last week. we thought the taper was coming. the market did, and the taper is certainly coming. i think what we got which was a surprise is that we didn't get this separation in the language as strongly as we expected from the tapering to the rate liftoff. powell told us a jackson hole there would be a substantially more stringent test for rate liftoff's, but what we saw was really one and the same, so that is putting a floor under how low yields can g

futures up not even buy 1/10 of 1% on the s&p, russell unchanged, the nasdaq positive. jp morgans -- jp morgan things slow growth is ahead. -- strong growth is ahead. yields lower at the long end, 26 .68. one .82 on the 30. -- 1.82 on the 30. it is a surprise on cpi to yesterday's session. we moved in -- tom: we moved in, 30 year level. i guess we could go the other way. jonathan: three basis points away. let's get to the china dashboard. take a look at a couple things, the-china, aussie-dollar, copper. -- dollar-china, aussie-dollar, copper. copper not doing much. aussie totally unchanged. the renminbi, average of the year 6.47. tom: we are in new strength, not record strength. 6.43 surprises a lot of people. i think it is unique. it is singular. i will not give it a pacific rim feel. jonathan: we are seeing stability in rubbish data and a problem with a major property developer in that country. china, 6.43, really stable. that's the cross asset price action. romaine: a quiet day in the premarket. her soft shares moving higher, a $60 billion buyback and a slight bump up in the d

ten, 15 minutes leading to a decline on the s&p. 0.5% decline on the nasdaq the dow holding on to .2% of gains. ♪ >>> welcome to the "closing bell." i'm morganstocks do settleinto the close the dow finishing higher by 72 or .2% i can speak today. i promise. the s&p finishing lower. 4443 the level there and the nasdaq the underperformer with the composite down half a percent. russell 2000 an outperformer up 1.7% and the transports up 1%. morgan stanley chief strategist mike wilson on why he thinks it's time to be defensive and the sectors to stick with right now but first breaking news on another fed retirement steve liesman has the details for us. >> thank you robert kaplan, the president of the dallas fed, announced moments ago that he'll retire as of october 8 kaplan, of course, was one of the ones that became a focus of a conflict of interest at the federal reserve. kaplan saying that because of the issues surrounding the finances, he made the decision to retire so as not to take focus from the federal reserve saying it's a critical point in the recovery unfortunately the recent focus on my financial disclosure risk being a distraction to