willem sels from hsbc private banking.g up, david solomon joins us for an exclusive interview here in berlin. do not miss that conversation in 30 minutes. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. matt: good morning from berlin. i am matt miller. this is "bloomberg daybreak: europe," and these are today's top stories. u.s. stocks hit all-time highs on every major index as treasuries tumble and trade optimism sweeps across global markets. xi jinping reiterates china's commitment to economic openness. we are live in shanghai. does goldman sachs ceo david solomon share the optimism over trade? i will speak exclusively with him right here in our berlin bureau on the european open in

in lebanon private banks have finally reopened after 2 weeks they initially had closed their branches during weeks of antigovernment protests around the country the bank closures made the lives of normal lebanese even the heart of employers haven't been able to pay their workers salaries lebanon is $1.00 of the most heavily indebted countries in the world and some fear a run on the banks would cause complete economic collapse the demonstrations were aimed at widespread government corruption. and now to some of the other global business stories making headlines today the keystone long pipeline in the u.s. state of north dakota has been shut down due to an oil leak more than 9000 barrels of oil off thought to have seeped out the pipeline that has long been controversial sparking regular protests from local environmental groups. alcoa launches its new streaming service on friday apple t.v. plus as its cold engine to muscle in on an increasingly crowded streaming market still dominated by netflix but featuring more and more rival companies the new service costs 4 $1.99 a month and will be

and just briefly in lebanon on private banks have funny because i've been up to 2 weeks a close during weeks of antigovernment protests branches that just reopened when full protest is the locked themselves in the headquarters of the lebanese association of banks barring others from leaving or entering still many locals are believed just to get their hands on some needed cash for the 1st time since the middle of october. nice doing business with. the. first girl to get over. on the show that it was as it were going. in support of. what's able. to be able. to trust the famous naturalist and experience. to celebrate clicks on the front $250.00. lying on the floor in a church discovered. 3. expedition in blood on the team. plane . welcome to the girl next new to chat. good line of story. with exclusive inside. the must see concerning parts culture in europe took. place to be full curious minds. do it yourself networkers. so subscribe don't miss out. oh. place. a place. after the fall of the berlin wall no summer night double. play. play. play play. this is it every news life or girl in jo

and just briefly in lebanon on private banks have funny because i've been up to 2 weeks a close during weeks of antigovernment protests branches that just reopened when full protest is the locked themselves in the headquarters of the lebanese association of banks barring others from leaving or entering still many locals are believed just to get their hands on some much needed cash for the 1st time since the middle of october. nice thing business with. the 1st. go indiana. roads factories cities their numbers are increasing while the forests are decreasing how can they be protected how can reforestation be done right. from the climate for wildlife for humans the forest is a dire importance. that people put. you on facebook and twitter up to date and didn't touch. the boss and it says if the guy you don't need to keep a day about the bones both for the older mets and home the foursome for some small closeness he made that nickname up later that was the bottom of the valley that the last dragon was were called the harlem. river on. the back. after the fall of the berlin wall the night. th

and just briefly in lebanon on private banks of funny because i've been up to 2 weeks a close during weeks of antigovernment protests branches that just reopened when full protest is the locked themselves in the headquarters of the lebanese association of banks barring others from leaving or entering still many locals are believed just to get their hands on some much needed cash for the 1st time since the middle of october. nice doing business with. the family. eco indiana. rollers factory cities their numbers are increasing while the forests are decreasing how can they be protected how can reforestation be done right. for the climate for wildlife for humans the forest is a dire importance. of a new small d w. it's all happening good job with a few. your link to news from africa and the world your links to exceptional stories and discussions can go on with some speed of discussion going program back from foreign examinee from the z. tower i would say definitely comes from africa join us on facebook w africa. go to the girl max channel. goodbye no stories. with exclusive sites. the mu

for private banks has already helped more than half a 1000000 women across india. demand is very high for these micro loans. even though the interest rates are comparable to those of a conventional bank. the process is simple customers apply for a loan online using an app. every customer gets that own digital account. and then your bella maintains that she's not a charity. i think we are a catalyst for their growth and that's what i would like to see because if you pay us with principal and interest when i helping them in any way i would just try and provide them with a broad out that would support them to do all. this is a chance for people to break free from poverty a chance that they might not have got from anyone else. i. will gladly cheat. this week on global team comes from mexico. given. to. me not my name is iran i'm on a well and i live in sup on how to school. you know like. any camp or any order my free time i like to do take on dole the martial art and play video games where walls. ok out there what makes me happy is being with my friends my family and m

private by buying all existing s. and p. 500 stocks doesn't matter what they pay for it doesn't matter what that number is because they're buying it with money given to them from the central bank for free and once they take all these stocks private we all then have feudalism or neo fatalism and if you're not part of the inner circle of the top 110th of one percent you will be living in a no man's land slugging it out on the street corner deafening in the street and acting like you live in san francisco every single revolution throughout most of our history going back to the french revolution the american revolution what you need is the upper middle class those are the people that you need to start to rebel against the oligarchs the clue kratz their aristocrats and this is what you can see in the data here looking at what wealth richter at wall street dot com dives into the data that the fed released and proudly they thought they were being very trance . and showing how great the economy as well as at an all time high is 107 trillion thanks to all their money printing but today the share of the one percent is nearly 4 percentage years higher than the share of the 50 to 90 perce

joining us now is the hsbc private bank chief market strategist.ff with you and look at the risks for 2020, where do you see market -- do you look at liquidity or is it more about valuations? >> the most important thing for 2020, i think it is less about the cycle because i do think we are going to avoid the recession. you probably want to be in a neutral position in terms of cyclicality, but one needs to be diversified because it will be that uncertainty, the political and geopolitical risks that will continue to be there. if people are not diversified through safe haven bonds, they need to find it somewhere else, in hedge funds, and private equity. francine: when you look at the trade wars, will it continue as it is, or will we see a reprieve in 2020? obviously at is political question, i believe. at this moment, it is rather uncertain how president trump wants to play the trade word -- the trade war card. our assumption is likely that he will take a step back and we are seeing that he is quite interested in striking a deal short-term with china,

but he's now accused of using private bank accounts to launder millions in dirty money for criminals if convicted he could face 20 years in prison. >>> in some health news, it's shaping up to be a worse year for the flu than usual. the cdc is reporting flu activity in 30 states. that is the most in a decade for this early in the season. california, louisiana and maryland, you see there in red, are seeing widespread flu activity. doctors urge everyone six months and older to get a flu shot. >>> in sports the nba is a melo place again. carmelo anthony returned last night as a portland trail blazer after sitting out the past year and hit his first shot and finished with ten point, the blazers, however, lost to the pelicans. >>> check out this kid who put on a basketball shooting clinic at the lakers game. max is just 10 years old and during this 30-second shooting contest, he knocked down a pair of three-pointers from nba distance. you see him there. the crowd went crazy. he only missed one shot. good job, max. >> also incredible the laker girls showed off their new recruits during the

. >> reporter: aaron said the intruder demand his private banking and email information and put headphones on him that played calmingat music along wi instructions to use denise's work and text her work to say she was out a couple of days and let his work known the same and said he was given nyquil and valium to knock him out and told to say in one spot in his living room that was outlined in red duct tape and monitored by a web cam. then he said the intruders left with denise. his story sounded so implausible police wondered if he made it to hide something more sinister. at first blush a woman is missing and husband or boyfriend said she is abducted the first thing i think maybe baups i do this for a a living he is the one who did this. >> you look at the significant other.at he is a suspect? is he making it up? what is going on here? what is the real story. >> reporter: police treated aaron less as a victim and a murder suspectss and confiscate his cell phone and read him his rights. they were suspicious why he ratedus 11 hours before calling 911. >> aaron bquinn, it took him hours. it w

and joseph quinlan, he's joining us the head of market strategy for merrill and bank of america private bankh for y'all to be here with us today joseph, i'll start with you. what do you make of this market here we had a little punch into the close. did that give you some confidence that we've sort of settled down our worries about trade negotiations, earnings are good, feeling a little positive going into a new week? >> courtney, everything's falling into place good employment numbers, china growth is coming through i think the big surprise bob pisani just talked about, europe is growing as well all the pieces are falling in place for a year-end rally good earnings, better than expected so we're going to grind higher we've got some headwinds for 2020, but right now in the fourth quarter, this looks pretty solid >> josh, what do you think about the small caps there we saw the russell 2000 up 1.75% today. >> i think small caps have been one of the sore spots for this market you can throw in the transports and the financials but a lot of these things are starting to resolve to the upside they w

is this bob doing the wire transfer or somebody hijacking hills private bank account based on a user. and password so we've gotten better at that. the good news most consumers, they can't lose $150,000 to $500,000 in their account and that can make it whole it becomes more of an issue when a corporate account gets hijacked and some kind of unlawful transfer occurs and sometimes it's hard to claw back that money we learned that with the bank of bangladesh when $81 million was traens forred via swift. a lot of that money was, in fact, lost. >> kevin, i have not seen -- knock wood i have not seen the giant headlines about some huge retailer that's been hacked lately this used to be a matter of -- you were involved in a lot of forensics. have they gotten better, hushed up what are you seeing? >> when you deal with ceos after they have a breach, one of the first things they'll tell you we can't go through that again. that can't happen again. a lot of folks that have taken the walk down the victory lane, victim lane, i mean, they've learned lessons and do a lot of tweaks to their program.

this is important because john augustine of of course, huntington private bank is going to name some must buy. they are cheap right now. buffett does not like to overpay. and they are best in class types of brands. so you have got to stay tuned for that. we'll see if mr. buffett is listening. charles: i can't wait. 128 billion. you can buy a lot of stuff. 4816 a share. beat the street $400 a share. >> real quick one, if you invested 1000 bucks in 1964 when buffett started to take control of berkshire, that would be worth, i did the math, $17 million. 1000 bucks. not bad. charles: i can't wait to see what he might or should buy. tooks tune into the "the claman countdown" at top of the hour on fox business. >> see you then. charles: huge day for markets. all three major indices hitting all-time highs. we're on pace for record closes. as we head into the final hour of trading. where should you be positioned not just for the rest of the day, maybe for the rest of the year. izes your car insurance so you only pay for what you need. that's a lot of words. only pay for what you need. ♪ libe

graduate of west point and is currently senior vice president and adviser with bank of america private bank. all three are with us live today. >> and welcome back to this special veterans-day edition of "halftime report" live from the the women's memorial. with us now, ladies thank you for being with us today. >> thank you. >> i'm going to start with you, patricia. 13 years in the army. how did this group come about? >> so it really just started reflecting from my experience leaving the military. i figured out now i want a career in financial services. and just during that process just naturally i realized i need to learn about what i'm getting myself into. having mentors helped me i found was extremely important during that process. i think that's something that a lot of veterans will benefit. we created women's veterans to create a network so veterans in the industry can share that information with women veterans that are thinking about making the same transition. >> are we getting better with hiring veterans? >> the hiring effort is absolutely getting better. i think women need to come i

the bank index has gained 15% in the last month and among private banks, you have gains coming in forg well. the september quarter data will be coming out on november 29. economists are pegging growth rates of sub 5%. rishaad: what about some of the ofer stocks you are thinking or seeing waves? >> heavyweight reliance continues to be in focus. stocks seen trading at all-time high levels. the stock also eclipsed british .etroleum it's up another 3% in trade. it is that there will be 3% tariffs in the next three weeks. credit suisse has said they expect annual cash flow of $1.5 billion from the price increase and they've also raised the target price to 1400. all three players have the potential to significantly alleviate stress. remember, these price hikes will come for the first time in the last three years. neutered margins were under pressure as a result of raw material costs. on a year-to-date basis, it has given you returns. under has found reporting, and we are seeing negative reactions. shifts tonow fundraising, which management has said they will be having a bond meeting soon an

manages the $17 billion at huntington private bank. john, go for it.t should buffett buy now with the money? >> well a couple of ideas for him. crown castle is one. that is a cell phone tower company, that would nicely fit into his portfolio. another one is utility, but in a growth area of the country, next era energy is also building into the solar and into the wind business. and then constellation brands would be a good fit with the coca-cola acquisition. those are three to buy. one glaring one we would add to, maybe not buy the company, but one global brand that our equity team noticed he doesn't own, boeing. boeing is a huge u.s. based global brand that almost seems to us to be a glaring hole in the "oracle of omaha" portfolio. those are ideas for you, liz. melissa: when you're talking about swallowing an entire company, i'm assuming you don't mean boeing. it has a market cap of 197 billion. he has 128 billion. outright purchases of companies, he is itching to do that. he hasn't been able to because he feels, that the valuations are way too rich ri

joe, stephanie and john, marg reet reed, union bank private bank, and rob of ubs private wealth management. so stocks, joe, pushing to new highs. you've got the president who is probably going to tout a strong economy, high gdp, low unemployment is he going to give the market another leg up i think you and i used the phrase coiled spring here we are, we are springing higher, with very good reason. i think when you're looking at the steepening of the yield curve, the un-inversion, if i could create a word, the un-inversion of the yield curve, there's been a significant rebound in yields. and then earnings, and steph talks about earnings all the time eps gross was expected to be negative, 3% to 4% we came in down only 1%. so i think there is a lot to present a very fertile environment for the capital markets. every asset class is higher. where is the tax law selling going to be when every asset class is higher? here we go into the end of the year. >> i'm going to quote the great josh brown, because i'm old enough to remember august. and there were specials in prime time on cnbc markets in tu

bank. the taxpayer money is currently held in private commercial banks that often engage in socially and environmentally destructive practises, fundamentally against the values of san francisco. a public bank would allow the city to have a more local control, transparency, self-determination and expect investments in affordable housing, small business development, loans to low-next house holds, renewable energy and reducing student debt crisis. sanfrancisco should lead the pact and this moves us closer to realizing the creation of a public bank. the legislation will engage key banking, fiscal and lending experts to a planning task force and bring on a consultant for the business plan which will come to the board's consideration is approval. i am so appreciative of the san francisco public bank coalition for their ongoing advocacy and our state policy makers for passing landmark legislation. thank you also to the treasurer for the work his office did on the feasibility study and for being willing to engage with my office on this issue and thank you to my colleagues who are cosponsored this, supervisor wa

skembri in some way was creaming off some of the profits of this, and squirreling them away into a private bankma. this, again, of course, he denies. also, mr mitzie is charged with the same sort of thing, or accused of the same sort of thing. the businessman who left in his yacht, he owned a company called 17 black, which was registered in dubai. it is alleged that that company was a conduit for these illicit payments to people like him, and mr mitzie. skembri, and mr mitzie. again, i have to stress these are all allegations, nothing is proven. but given that some of these allegations are now involving people with immense political or economic power in malta, doesn't malta have a sufficiently independent and powerful police service and judiciary to take this on? no, in a word. there was a report back injune by the parliamentary assembly of the council of europe, which is a big european watchdog, and it specifically pinpointed the weakness of the police, and it signalled one of the big disadvantages of the multi—system, which is so much power is concentrated in the office of the prime minister,

morgan private banks head of market strategy for asia. many respects, you think the best approach is to tune out the noise and stay the course. >> there's a certain amount of that. our view is that the u.s.-china trade tensions are part of a larger structural issue. the risk has come down on further escalation. we think tensions will probably persist. china, weerms of heard this plan from the pboc, it's going to increase adjustments to ward off some pressures. what are you expecting to see? course,ng the potentially. they have maintained easing bias, but we haven't seen real response from a growth perspective. we think there are a lot of valances -- balances that are well-known, housing prices and other asset bubble prices. shery: we have seen some measures in china. recently, there was the one-year lending facilities reduction. how much has that filtered into the real economy? , about five small basis points. they have been tinkering and trying to push down domestic money market rates within china to lower the cost of retainment of the e

we've got citi private bank p global head of investments, david bailen.hatever we get, as a one-off, that it's weighted by the gm strike, but it's the trend that will be more important that the single number. what do you sunshine. >> that's exactly t right. there's a lot of noise in the data for what's going on with the strike and impacts on all of the other companies involved in the manufacturing of the cars and all of of that. so this will be -- could be an aberration number. people are concerned about the trend. they're watching it closely. they want to see that things are staying relatively consistent. if we have a much lower numbering i think people will be concerned and the market is looking for things to be concerned about. neil: with the strike itself, affected upwards of 50,000s gm workers, tens of thousands more in ancillary industries, suppliers, what have you. is that going to wallop even the earnings component of it? >> i would doubt that it would wallop the earnings component by itself. this will be a very short period of time. that can be p

private equity. investment banking advisors. m&a advisory. that one, the survey caution would be across the board. ivate equity and hedge fund, there is a lot of capital there. private equity is everywhere. that is why that is outperforming the rest of the sectors. the worst is equity. equity traders. all your we have seen big street decisions being made across the aboutanks, globally banks what they are doing in equities business. the has been a big question m ark. bonuses could fall as much as 15%. the bright if you are getting a bonus, you are getting a bonus and you have a job. shery: you are not getting laid off. is alsoechnology changing a lot of those businesses. i wonder to what extent those businesses are choosing to invest in technology over talent through bonuses. hannah: that's an interesting question, touches on one of the big things that we were talking about. we have this series of record revenue quarters, and a lot of that was driven by interest rates. now interest rates have been falling. the banks have been investing billions in tech along the way but now we are looking at cost cu

morgan private bank equity portfolio manager. happy monday.nd the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. jonathan: from new york city for our audience worldwide. i'm jonathan ferro. "the countdown to the open" starts right now. ♪ jonathan: coming up, stocks .allying the latest u.s. official talking up trade talks. there ramp ipo back on. lift arabia planning to the largest oil provider in rehab. donald'srbrook out of for violating company policy. good morning. here is your monday morning price action. four straight weeks of gains on the s&p 500. we had another 18 points to futures, up .6%. in the fx market, euro-dollar down to 1.11 $56. treasuries lower, yields higher. let's begin with the big issue. inch

bank of india. it is impacting more the private sector. i hope that the banks have private sectors. e decision-making process. that was state bank of india chairman rajnish kumar. indian markets have just opened after yesterday's public holiday. let's go through what to expect from today. markets are returning after yesterday's holiday. how are they looking on the open? start.s a negative the focus now shifts to the macros. they did have the industrial production numbers for the month of september, which came in with a factory output of contracted of 4.3%. which is the lowest we have seen. for thexpectations monetary easing for the bank of india . i am talking about the markets right now. you have the nifty index trading around the levels of 11,900. banking stocks have been outperforming the last few days. you have the banks sitting with gains of 2%. the syntax is sitting with gains. -- sensex isx sitting with gains. rishaad: we have a group packaging company. we have one that makes generic pharmaceutical products. is correct. let me start off with this, which has been in focus since

as a late comer to the presidential race, one of them is how does he explain his work at private equity firm, banke private economy. there is a place for business in our lives. but it is also true that capitalism generally has a lot to answer for. thats is so. and we need to be able to confront that. that's exactly the work i've been doing. i've done that same work in other business settings before. cheryl: let's bring in former white house deputy brad blakeman and democratic strategist, kevin chavits. let's start with you, kevin. some are saying he's obama 2.0, others are saying he's another version of mitt romney, with the drag on his name. how does he fit into the primary? >> well, it's interesting because it is so late in the game and because in a lot of ways he's going after sort of the base that thrown their support behind he joe biden. he he's looked at himself as the heir to the obama legacy. they're close friends. because it's late in the game, he'll have to find a way to raise money pretty quickly. he's going to have to with lightning speed get his name id up. while he was governor of ma

another person who's also a non-bank and therefore that person spending power goes down yours goes up when europe the opposite happens overall they don't think the level of private debt matters they're wrong because when you borrow money from a bank it's not borrowing from somebody else's bank account it's creating debt on one side which pushes up the banks assets creating money on the other which produces a billet is which is your deposit account you then spend that money so if credit is positive it boost demand it creative negative it reduces demand and that's been driving the actual malfunctioning of the american economy for the last 30 is completely ignored by mainstream economists so we want to get at it to the level it was back in the fifty's and sixty's when profit was about 40 percent to 70 percent of g.d.p. that's sustainable because we ignored it it's now it reached 170 percent during the financial cross now 150 percent we're living in a credit stagnation will have too much profit right anyone up with this a so-called minsky moment where the debt is used to finance these assets that are used to collapse collateral to increase the debt by. and it goes o

it's a private bank. how do you view value? basically, it is time to spend a little.ime to get into value now versus a year ago. what do you tell your clients? alex: at the moment, we are looking a bit more at cyclicals. we take a long term, but also a bit of a short-term tactical in the u.s. as well. some of the boiling up we are seeing in markets on the back of reduced tail risks around recession and around geopolitics. alix: do you feel like your clients would want to get more invested now, take on more risk? or just diversify what they have? alex: the clients i generally deal with are in asia. i think there is still a bit of skepticism around the trade talks, particularly in hong kong as well, given the stress we are having their. there is skepticism about taking more risk on at the moment. alix: really great perspective. really appreciate you joining us, alex bolt, jp morgan. sarah hunt will be sticking with me. withur to otto is here first -- viviana hurtado is here with first word news. viviana: president trump will not impose tariffs on autos in europe, accord

let's go straight to the burning issues in private markets. banking on illiquidity.ts on risky companies. cross-border trade. looking at the state of asian investment in u.s. real estate. and we speak with the chief executive

with bank of america merrill lynch private bank. gdp is gone. law put out a fabulous essay on the inequality. how unequal our way as we go into this election? care inequality, gender inequality, are pretty inequality. , people are angry and upset. insecurity, about whether it is trade or immigration, hasn't gone away. americans wholion don't have a high school education, who are in the workforce. even the lowest labor components in terms of skills is getting a pay increase. that will not settle anything, but it is a start. tom: these are seismic shifts in america. let's go to the seismic shift in china. this is one of my favorite charts, not chart of the year but maybe chart of the decade, and with the backdrop of dr. kissinger speaking at our forum, china gdp, this is a long chart, that is linear and persistent. we are at 6%. the merrill lynch view of next year may be sub 6% and joyce chang models out somewhere in .he distance a 4.5% economy if we persist at vector, what does it mean for the global economy? but i agree with joyce t

but carrie lucas said let private companies like bank of america do just that. his and saying not enough? >> absolutely. as is the best of american capitalism, it's a mix between the public and the private. it's a beautiful thing that bank ever america wants to pay its workers a better wage and share greater earnings in the form of higher income and hopefully benefits. we need more employers to step up. >> neil: not every employer can be bank of america? >> many employers are reporting historic earnings. we need the government to push people to say in the united states of america if you work hard for 40 hours a week you should be able to take care of your family and too many families can't do that. >> neil: that's a good point. let's say a small, medium sized business owner, not everyone is a fortune 500 company. >> absolutely. this is something bank of america can afford to do to keep and retain good workers. other companies have to have different strategies. not all workers want higher wages. some want other compensation, more benefits or more leave time and mo

ating up, steven wieting citigroup's private bank.orning, yields are lower after the ever higher yield dash. year-endor is the slumber beginning? huddles with hong kong officials, what to do next and into this weekend. the cfa institute delays their december exam in hong kong. it is a day of rest, more impeachment testimony tomorrow. this is bloomberg "surveillance," from new york and london. we just did a little bit on the general election. am i right that there is a quiet in the dash to december 12? francine: there is a little bit .f quiet a lot of -- quiet a lot of media are trying to inure out about voting december. it is more about how many people turn up. this is a whole other set of problems we have in the u.k., and it could affect voter turnout. tom: december 12, looking forward to that. learnedbloomberg has that the sticking point and trade talks between the u.s. and china, the u.s. is demanding that china spell out how it plans to reach $50 billion a year in agricultural imports. china is resisting. china has lifted a ban on

limit ofnts to the these measures by the pboc, targeted to ensure that banks lends more to the private it simply is not coming to fruition in the way that many officials in the people's bank of china would have liked. look at the aggregate financing number for october. it came in at $88 billion u.s. but it is the weakest number since 2017. it is a fourth consecutive month of slowing expansion of adequate social financing. -- aggregate social financing. look at the new loans number as well. that jumped to the lowest number in 2019. this credit data now puts the pressure on the pboc to act more aggressively than it has been in the past. nejra: the world's third-largest economy also adding to global growth concerns. japan reported an unexpectedly sharplyrd-quarter missing estimates as the global flow hit trade exports. chris: .2% growth is never a good thing, but there are a couple of reasons why japanese policymakers may not necessarily be overly concerned about this slowdown. so, first of all, we have got a significant rundown in inventory. there was a hit from trade. that is not a surp

i spoke to jill garvey of hunter private bank. is a interesting that create a state charitable organization. hasn't seen a state do that. there you go the blue states are complaining once again. you have to keep in mind a little bit more expensive here. so wages are a little bit higher. the percentage of taxes are slightly higher. when you have a a generic 10,000-dollar cap it affects the state as little bit more. that sentiment echoes what the new york attorney general from new york attorney general james said in a press release and i quote, this cap has already put a heavy burden on hard-working middle class families of new york. new york will not be bullied into paying more in taxes or changing its vital public invests because of congress and the president's partisan choices. another sentiment from the new jersey governor phil murphy, said a very similar thing too. he said the trump administration continues to the irs as a political weapon which affects thousands of hard-working residents of new jersey and similar states. to pu