dividends safe, but robert shiller's out there today and he's a nobel prize laureate economist who i really really like. he basically said let's take at the stock market. you know, we're pricing it, everything that's perfect with the trump presidency. but the down side is we're just as big. yes, there could be foreign police haphazard mismanagement. there's some uncertainty there, but yeah there is some upside, but he also said there is some downside. danon: alright, we're watching kind of the end for yahoo here. nice payday though from mismire.rob: yeah, it's kind of sad.danon: it's very sad. this was kind of like the big tech company around here for a long time, and i kind of feel like the start of things for the bay area.rob: yahoo, excite, lykos . . .uh, that led to things like google. so ultimately, marisa ma after traveling to eight different cities for 8 different games... the warriors returned to oracle for a 3-game home stand. right now against philly... steph curry is celebrating his 29th birthday. he received cake featuring a mouth guard and pi symbol... being that his bir

dividends safe, but robert shiller's out there today and he's a nobel prize laureate economist who iy really like. he basically said let's take at the stock market. you know, we're pricing it, everything that's perfect with the trump presidency. but the down side is we're just as big. yes, there could be foreign police haphazard mismanagement. there's some uncertainty there, but yeah there is some upside, but he also said there is some downside. danon: alright, we're watching kind of the end for yahoo here. nice payday though from mismire.rob: yeah, it's kind of sad.danon: it's very sad. this was kind of like the big tech company around here for a long time, and i kind of feel like the start of things for the bay area.rob: yahoo, excite, lykos . . .uh, that led to things like google. so ultimately, marisa mayer. (brittney) coming up the seven day forecast. tonight kron4 goes in depth on psychedlic drugs being researched in the bay area... for their potential to help people suffering from depression, anxiety, and p-t-s-d.(pam) new at ten: kron' 4s gabe slate met with a woman taking ps

we are going to drill down into that with robert shiller.h with david westin and jon ferro in a little bit. the u.s. to economist has written thoughtfully over our single best chart, which is a decline in manufacturing. is there any number of ways to show this? i did this chart a decade ago. this is population adjusted manufacturing. here is where we are right now. is ain population, here long-term technology and productivity improvement. a steep decline on a long basis. "withust screams to say her now on manufacturing." >> the big drop we have seen since 2001 coincides with china's dissent. removing the shackles has put itself. china has been punching below his waist for sometimes -- for some time. we don't even have to point to currency manipulation. china is just artificially honing itself back to that point. china took some jobs, no doubt. the other point is productivity increases. the best thing is you want to bring back jobs. is there is ar good correlation between the wealth of countries measured by gdp per capita or something like th

coming up, next is robert shiller, lobo -- nobel laureate.atching bloomberg. ♪ ♪ >> the politics of d.c. test the patience on wall street. republicans health care reform could imperil tax reform. the biggest one-day drop this year, and treasuries rally. continuing to unwind. crude reality for commodity reducers. losses of $50 per barrel. good morning. live from new york city to our viewers worldwide, welcome. i'm jonathan ferro. alongside alix steel. let's get straight to the pictures this morning, softer after the biggest one-day drop so far in 2017. 0.68% on the stoxx 600 and treasuries treading water after the last couple of weeks. dollar-yen 111. overnight, the lowest level since november. continuing lower today. the vix moving higher but still up only 15% in the last two days. gold pretty much goes nowhere but that is your check, brent. do we roll over? i have to think volatility will pick up. >> domestic u.k. politics. the scene right now in there in that room. facing questions, facing a quick -- a squeeze from the north, >> in negotiat

this is something robert shiller has put forth. it is above the long-term average here if you go back to 1995. maybe we need a new ratio. a trump adjusted price-earnings ratio. it's really hard to pinpoint exactly how much optimism or animal spirit is being baked into valuation. --ther it is the schiller pe you can pick any number of conventional or unconventional valuations right now and they all point to optimism, higher than average valuations. some supported by very low interest rates. rates will remain pretty low and that will be very supportive of valuations. there is some optimism built in. how much? is it justified? it is difficult to quantify the how much but we do think it is justified. the progrowth agenda, certain elements of it individually in the power of the combination of fiscal spending, tax reform and deregulation could really drop to the bottom line pretty significant. bringing corporate tax rates down to 20% could add 12% to s&p earnings. there's heavy firepower associated with some of these initiatives. mark: i

the last time robert shiller heard stock-market investors talk like this in 2000, it didn't end wella "new era story" of technological transformation: the internet had re-defined american business and made traditional gauges of equity-market value obsolete. today, the game changer everyone's buzzing about is political: donald trump and his bold plans to slash regulations, cut taxes and turbocharge economic growth with a trillion-dollar infrastructure boom. ( mark )( rob )loser: oil hits three-month lows as inventories continue to rise . .. oil prices fell to three-month lows on tuesday after opec reported that crude inventories in developed countries had risen above the five-year average in january despite production cuts by some of the world's largest exporters. u.s. crude (clc1) slid 82 cents to $47.58 a barrel after dropping during the session to $47.47, also the lowest since november. ( mark ) ( rob )loser: yahoo's mayer to get $23 million golden parachute . . . yahoo . detailed a golden parachute of $23 million for chief executive marissa mayer as part of her planned departure f

robert shiller robert shiller coming out and saying stocks are way overpriced. s&p futures off by three points. over 2.6%r yield around the highest level since 2014. the dollar is a touch stronger as well as crude. i want to focus on what is happening in the u.k.. you have the ftse 500 moving higher despite the fact the pound is getting hit -- or because the pound is getting hit. up .5% and dollar pound -- #can dollar at an eight week low. he have to look at that weather -- you have to look at that to see -- i would be remiss if i didn't touch on valiant. this is a two-day chart all what happened yesterday when we heard they were selling out. that stock down 15% in nearing the record lows. how low can it really go? we will dissect to that later. david: he doubled down and now it does -- it did not work out. alix: so much drama for so long and now he does it. david: this morning in england, we had surprising news out of the bank of england as the deputy governor resigned in the wake of news she failed to disclose her family ties to barclays. here to explain how t