to the american empire well then that's why it's interesting that peter coy economics editor of bloomberg is now asking is it time for a regime change that's not very poor asking that question is bloomberg news asking that question yes well that's right and because the the writing is on the wall as the saying goes the other countries are looking to the dollar rise that's the phrase that has become popular in the last few years dollar as asian china russia definitely on the dollar is asian camp they are hoarding gold they're building a gold as the play dollar rise they are looking for the dollar to trade significantly lower. and so yeah you're right in the mainstream media is pointing out the fact that we've been talking about it for a while checking our heterodox economist sources but now the heterodox has become the orthodox well based on his suggestion in the title the tyranny of the u.s. dollar i don't think these nations that are dollar rising i don't think they care about the price of it i think they care about the tyranny of it is what he's suggesting i think what we've suggested an

mainstream media might say so this is quite alarming for a mainstream media headline and it's from peter coy business editor economics editor i'm sorry bloomberg and his headline reads the tyranny of the us dollar the incumbent international currency has been american for decades is it time for regime change and it's a very bizarre just two paragraph article and it doesn't really say anything other than this sort of paragraph by the latest tally of the european central bank america's currency markets make up two thirds of international debt and alike share global reserve holdings oil and gold are priced in dollars and euros or yen when somali pirates hold up ships at sea as dollars they demand and threats to be cut off from the dollar base global payment system strike terror into the life of iran north korea and russia it's no exaggeration to say that the dollar's primacy is at least as valuable to the us as a couple of aircraft carrier strike group well there's a direct correlation between air strike carrier groups and the dollar the dollar has no intrinsic value it has no trade value trade

to the american empire well then that's why it's interesting that peter coy economics editor of bloomberg is now asking is it time for a regime change that's not very poor asking that question is bloomberg news asking that question yes well that's right and because the the writing is on the wall as the saying goes the other countries are looking to the dollar rise that's the phrase that has become popular in the last few years dollar as asian china russia definitely on the dollar is asian camp they are hoarding gold they're building a gold as the play dollar rise they are looking for the dollar to trade significantly lower. and so yeah you're right in the mainstream media is pointing out the fact that we've been talking about it for a while checking our heterodox economist sources but now the heterodox has become the orthodox well based on his suggestion in the title the tyranny of the u.s. dollar i don't think these nations that are dollar rising i don't think they care about the price of it i think they care about the tyranny of it is what he's suggesting and i think what we've suggeste

unemployment at a new with more than 7 million unfilled jobs that's impossible. ,we got some input from peter coyompanies have trained employees for centuries. apprenticeships, journeyman. it was on a decline according to the bureau of labor statistics data. in 2009, data showed a pretty steep decline. one of the reasons is that companies were afraid. they put all this money and time into people and they would just be plucked by someone else. today, the evidence is that there has been an uptick in trading, not huge, but it is on and up tens -- an uptrend. carol: how come? is it such a tight labor market? peter: as unhappy as they are about the possibility of someone free riding on them and poaching their people, they have no alternative but to provide some of their own training. jason: what does it look like on the ground from what you can tell? what are companies doing that is working when they put these lands in place? peter: the big theme is experiential learning. a lot of people are not good at classroom kind of education and they learn better when they do stuff this idea of an , apprenticesh

we got some thoughts from economic senator peter coy. the idea of training companies -- employees is something companies have been doing for centuries. apprenticeships, journeyman. it fell into decline according to the bureau of labor statistics for long time. most recent figures showed a steep decline. one reason for that is that companies were afraid they would put on this money and time into people and train them up and they would just be plucked by somebody else. i'm looking at what is happening today. the evidence is that there has been an uptick in training, not huge, but it is on an uptrend. carol: how come? is it such a tight labor market? peter: yeah. as unhappy as they are about the possibility of someone free-riding on them, they have no alternative but to provide some of their own training. jason: what does it look like on the ground? what are companies doing that is working when these plans are in place? peter: people learn better when they do stuff, this idea of an apprenticeship. it's not just entry-level work. it's on up.

mainstream media might say so this is quite alarming for a mainstream media headline and it's from peter coy business editor economics editor i'm sorry bloomberg and his headline reads the tyranny of the u.s. dollar the incumbent international currency has been american for decades is it time for regime change and it's a very bizarre just two paragraph article and it doesn't really say anything other than this sort of paragraph by the latest tally of the european central bank america's currency markets make up two thirds of international debt and alike share of global reserve holdings oil and gold are priced in dollars and euros or yen when somali pirates hold up ships at sea as dollars they demand and threats to be cut off from the dollar base global payment system strike terror into the life of iran north korea and russia it's no exaggeration to say that the dollar's primacy is at least as valuable to the us as a couple of aircraft carrier strike group well there's a direct correlation between air strike carrier groups and the dollar the dollar has no intrinsic value it has no trade value

mainstream media might say so this is quite alarming for a mainstream media headline and it's from peter coy the business editor economics editor i'm sorry it bloomberg and his headline reads the tyranny of the u.s. dollar the incumbent international currency has been american for decades is it time for regime change and it's a very bizarre just two paragraph art.

you are quite, thank you -- peter coy, thank you for breaking it down.omaine: paypal is reporting third-quarter earnings now. i need to pull it up. caroline: i will bring in the numbers. fourth-quarter adjusted earnings is 65 to 67. that is above estimates. they are boasting the earnings-per-share forecast beating on estimates and net revenue for .2 billion to 4.3 4.2 billion to 4.3 billion. romaine: it is all about the guidance and about the conference calls. this is what we hear from a lot of people is that what ever is reluctant -- written in the release, they want to hear from management. paypal is in fierce competition with square and amex. caroline: we have started to see a little love for these new age paper companies in the last couple of weeks. romaine: paypal was at the forefront of that. they are finally getting its due assuming they can keep pace with square and others. caroline: coming up, we mentioned netflix crushing estimates. to see is post earnings gain of apparatus, we will see what is behind the tech stocks next. this is bloomberg. ♪

peter coy, thank you. coming up, italy case to europe. prime minister says the government has discussed ways to lower the budget deficit targets for 2020 and 2021. we will have the details. this is bloomberg. ♪ is bloomberg. ♪ mark: i have your first word news. president trump remarks about christine blasey ford are drawing fire from both sides of the aisle. house push back against criticism that the president was mocking dr. ford when he addressed a rally in mississippi. she has accused brett kavanaugh of sexually assaulting her when they were teenagers. is by thean event atlantic magazine, lindsey asked what he thought of the president's comments. >> sometimes people are accused of something they did not do. president trump went through a factual rendition that i did not like and i would tell him knock it off. you are not helping. mark: the house also insisted the president was reciting what dr. ford said her and her testimony last week. controversy over judge kavanaugh's nomination has led tighten security at the capital. some senators

peter coy told us money is not what it used to be. uld it mean to have more private money? we are already seeing that happen to some degree with the death of cash. in sweden for example, it is only 13% of all transactions done in cash. the swedish central bank is looking at what happens in a world with no cash at all? the rise of cryptocurrencies is also, some people see it as a vision of, why do we need government money at all? but then the opposite is also out there, and that is what is fascinating. you can have such different ideas. it would be more government money because look at how badly the private sector seems to keep doing with all this lending, that the private money goes bad. and the fed steps in. another form of government money is the reserves and the banking system. it used to be $1 trillion or so. the size of the fed's balance sheet has increased massively in the financial crisis, and still is very slowly shrinking. carol: i think it is important you bring up the financial crisis, because you are seeing this private mon

we spoke with peter coy about the nasty surprise and what is worrying investors moving forward. r: the stock market has been remarkably calm.the five call list orders of the last 20 years have come since the beginning of 2017. people got used to the dow and s&p fluctuating in tiny little bits, trending upward over time. in thet of the blue first half of october, there were two days in a row where the s&p fell a total of 5.2% in back-to-back sessions. carol: everybody kind of woke up. peter: where does this come from? it as if a hurricane hits the sure that had not been on the radar. not that it was the hugest decrease ever, except in terms of the change from the background. according to goldman sachs calculations, the ninth biggest spike in volatility from a background level. jason: break it down for us. what did you see in those couple days as you talked to people? obviously, market experts everywhere scrambled to explain it, but also to do the big sweeping what it means pieces for where we are and maybe where we are going in the near term. especially because we are in the midst

coy, whoned by peter nabe conference.ifferences, between nafta and this new agreement? : the differences are not this indoor miss -- are not that enormous. how therd to see changes that it been made will justify such a radical reappraisal. there are changes. one of the big ones is that more auto content will have to be from north america rather than outside of the other countries to qualify for free protection. a bigger share of which have to be made here. one other one that is important is chapter 19. this is something the u.s. wanted to get rid of, canada wanted to keep. canada one on that. there were a series of compromises that amount to a more modern agreement. overall, i would say a somewhat better agreement, but not dramatically different. note peter, given the president's language about nafta, this sounds like a win for canada. basically nothing has changed. peter: there are some things. canada made the dairy concession, but you are right that canada got would wanted in -- got what it wanted in the resolution of t