it is all up. the reason they are so desperate is because of the fast-growing broadband operation in the new emerging markets with younger generations. they want to access the internet and it looks like it is the prize asset to have. whoever is the loser may collapse the market altogether. >> thank you very much. the french politicians and ceos are gathered today for a conference. this follows a week of political turmoil. the resignation of the president's government. we are on site with the latest on how they are responding to the political change. is it a surprise for the business lobby in france? that the business executives are very happy about the cabinet reshuffle and it was well received here with the people i have been talking to since yesterday. they say the economic ministers signal the prime minister to continue their pro-business policy. the president introduced a responsibility pact with tax cuts for companies. those are exclusively to the deal and one of the biggest utilities in europe. t

the unemployment rate is up. it gives the doves a little bit more ammunition ahead of jackson hole which kicks off today. >> the conundrum is markets. by 3%. bond yields are rising. stocks in the u.s. fell by retraced the losses. the dollar up as we know. volatility down. gold down. mixed messages in the market. the bond markets are telling us rates are coming sooner. the stock market does not seem to care or does not believe it. >> or the stock market says great. the economy is doing better so get ready and consumers, go spend. >> stocks will rise. latest data on the chinese economy was just released. the numbers were not too good, were they? >> not as good as we expected. it still came in at 50 points which is a little bit of expansion. there are some up to mists -- optimists out there. we were expecting 51.5. 50.3 was a big drop and it is a big drop and a big difference from what we were expecting. turn theough to shanghai composite on its head and you saw an immediate reaction across the aussie dollar. a lot o

failing,s the u.s. is not expect the european economy to capsize. >> if we look at equity markets, they have all had corrections. americans have not had anywhere near the level of correction. do think there's more to come or is this a good catharsis? >> this is a good catharsis for sure because we are in the middle of the summer lull. it is a volume vacuum. even for the people that are worried, there are some hedges to consider. it makes more sense to be long equity in emerging markets. we always see substitution effects. sanctions lead to substitution and adaptation in emerging markets -- and emerging markets may benefit from this. we could see china or taiwan benefiting. now the moment of disgrace is more in eastern europe. if you look at it, the proof is in the pudding because of job politics. asia hasy markets in fared pretty well. they're one of the best performance. >> will they continue to fare well if we see an increase in rates in the united states. they had a moment of disgrace in january. crews

but the public -- that is, the gist of my distillation of the argument is the public outrage at the nsa probably hit a high-water mark, is what i would say, at the height of the snowden coverage, and that world events are likely to push the public away from that, further and further away from that, more likely to do in that direction than to push them more in the direction of laura's camp. that does not speak to reflection of policy reforms. they have been made and there will be more tweaking on the margins, and certainly if there is umph or any new action, it will be much more tailored and restricted and the original 2001 . it is not to say that the public will force the politicians to be unrestrained, but it is to say we are moving more in the direction of taking more risks to confront terrorism than it is accepting more risks from not confronting terrorism. >> at the political science convention, the relationship between law and politics. judges will often decide cases somewhat differently, based on circumstances. perhaps press, at least in terms of what it publishes. there is a rela

in spain, the problem is that the spanish market is not connected into the european system. e re-exporting elsewhere. lithuania is in the process of lng.ssioning a foloating >> thank you very much for joining us. professor michael bratcher joining us from warwick business school. --ll to come, pop protection p ot protection. it is coming up next on "the pulse." we will have more when we come back. ♪ >> welcome back. thees arising after company's ceo promised growth in the future. this is on digital playoff -- payoff. optimism for the future. >> at last come the digital play -- atto be bearing fruit last, the digital play seems to be bearing fruit for ladbrokes. they said, let us get inrationally and play -- play and then we will continue. they are shutting stores on high street. is getting away from the shops to the online space. your computer, your tablet, your smart phone. revenue was not quite there yet, in terms of the area, but they are adding customers. the world cup really did help them in this respect. upy are up 48% in sign thanks to the world cup. half of those are

all the business is. hand, speaking just a few people, i will say that roger allman, they seem like some of the smartest people around, see you get the sense -- >> arguably they have been on m&a. >> the talent goes out the door every civil day. that is a risk of anyone. -- every single day. that is a risk for anyone. max abelson, to every month. the rise of china. ♪ >> good morning, everyone. "bloomberg surveillance." coming up, an interview with penny pritzker, she is the secretary of commerce, with michael bloomberg. look at that 7:45 this morning. the u.s.-africa leaders summit in washington, d.c. bloomberg.d much to talk about this hour. futures -5. here is adam. >> tom, a 70 two-hour truce has begun in gaza. israel has pulled out all that strips. as early military says it has completed its mission to destroy the tunnels used in palestinian attacks. the militant group hamas has accepted this truce brokered by egypt. the cease-fire, however, broke down within hours. 4500 troopsays along with hundreds of

can use the night vision goggles is a good thing, and the issue is what they do with it, and the optics, and what it looks like is very important and to pretend otherwise would be foolish, and by all means, if they had them to use technology the fight crime, let them use it. it is a good idea. >> and we may be on the fox news alert here. what do you think, charles? >> well, we should point out that the reason why -- >> i will take it as a compliment. >> some of the issue at ferguson besides the obvious cultural socioeconomic issues is bad policing, and regular old bad policing, and botching the whole thing. >> and yes, that is certainly a more compounded series of compounded problems, and the militarization came after bad policing, and most recently after the riots. when you talk about the economy of the places, ferguson's economy is going to be shot for years because of the riots. people don't understand the deep economic impact on a already difficult situation. >> i am glad you brought it up. >> at some point, i will say this, if the police force cannot handle it, you do have to escal

one of the man is while the court unanimously said that in every case when you are considering an accommodation you have to weigh the effect on third-party. >> where is that? what factors do you some fold that and under? is that part of the compelling state interest requirement, or substantial burden require mental? where is it? >> i've think the answer is every upper provision, we have said that it should inform the court's interpretation of the council. >> if they wanted you to balance the interests of the religious objector against the interests of other individuals -- and made no reference to that of all. they said unless the government has a compelling state interest. >> a compelling interest analysis certainly doesn't require consideration of the interest of the parties. of course, what the congress said in explaining how it was to work was that it was to strike a sensible balance between claims for religious liberty and governmental interests. and, of course, lee is one of the pre smith cases them pro

the demand is there. i think the larger types of companies bond through cheap corporate bond deals, which are below two percent. >> really quickly, food and beverage took a lot of heat. that's not the reason for your call to go underweight. >> the reason we are underweight has to do with this cycle. these were safety stocks. they're valuations got been up to high levels. you can buy love towns on five times earnings. >> there we go. he stays with us. we will get more from him in two minutes time. here is what is coming up. all about geopolitical risk, but it is hurting some companies. the profite off that falls more than 50%. in two minutes. ♪ >> welcome back. and onstreaming online amazon five tv. here is a stock that is on the move. eighta up right over percent. projectingorecast sales of 11 billion kroner. it just so happens the man sitting next to me hold this stock. you must be a happy man. >> i am happy. it has beaten the figures. the market likes the numbers. this company makes affordable luxury pro

with the law. it is also likely at least some of them are people who are members of the public who are injured by these things and could sue. my view would be it is a challenging case for the house to bring, even if they do have a vote. if i had to bet on a court upholding the standing of the house, i would not give them more than 50-50. >> what do you think? can the speaker, the house, sue the president? >> my answer is surprising. i would say yes. they have sued the president over and over again. i don't think they will be successful. i think he is attempting to make an important case. i think president obama is not afraid of it. he is suing me for what? doing his job. that is the debate for him -- between him and the congress. reality is the president has already been stung by the supreme court's wrist -- recent decision. they left a little window for him to do what he needs to do. i think everybody knows the president has been supporting this idea of executive power because he has been stopped by rep

go to where the crowd is. we on -- we're such fuddy-duddies on the right, we're lecturing young people what i we award they liked or watched instead of saying what you do withee free time is not study hayak. you watch nbc? you watch cbs or abc? you go to web sites like buzz feed. instead of going where the round is we're on the street corner with the sign saying, the end is near, and expect everybody to resinatas. if we want to spend our money, spend our money smart and stop worrying about local tv. by the way, everybody my age tivos. you go through the commercial. it's magic. >> everything that you have said to us today is true, and i sure everybody understands completely. it appears as though pretty much the fix is in. the low information voters are not us or most of our friends, although we do have these friends, and so i have two points. point one is, how do we reach the low information populace when we can't get around the media and we can't get the information out and for those of white house have friends

the inside than it is on the outside. this points to another fundamental failure in u.s. policy, which is, oddly enough, very much unlike the previous administration. in fact, it is the reverse. here we have an administration that is focused almost exclusively on conflict resolution. negotiations, final status, that is it. to the total neglect of any sense of conflict management. i think any real, viable peace process has to have both. george w. bush gets criticized for doing too much conflict management and not enough conflict resolution. we can criticize this administration for focusing exclusively on conflict resolution and ignoring conflict management so that -- part of that disconnect relates to gaza and hamas. we do not have a policy for gaza and hamas. we have to wait for that to play itself out. obviously, where a lot of people in washington say, it was only 1800 gazans who died, palestinians see it as 1800 of their brothers and sisters that were killed. in terms of how israel conducts warfare, the whole, if we com

the party is over. e miners are sensing. >> if you can decide whether or not or how much to spend. that is what newcrest did. loss.illion terrible result. a loss is a loss of but you have to look at it. despite the mind -- very strong. this aggressive expansion. they went heavy into. that has been the story of new crest. >> australia is really filling it. what sort of level do they need to make money from? >> about 1200. they say 1250. it could be stronger at 1250. you would be watching around 1500. around that. beautiful little margin as well. how do you describe the result? one analyst was say it was garbage. [laughter] he was saying a lot more. he used a word other than that. i am polite. >> tell us about some of the deals. 600 billion of deals going on in australia to mining. we are talking about. it is all in the construction phase. tax revenue. >> the investment phase is where it happens. getnd the points where you to and you have to look at what is happening at rio tinto day use all of the great m

the literature is getting deeper all the time to our own research is getting more sophisticated. already between the first mapping the cost of non-europe in march and the second edition that came out in july, we were able to adjust our calculation from 836 billion to 994 billion, and that was mainly as a result of the further work that has been done on the two aspects of the single market. in the more general classic servicesrket goods and and capital. we have done quite a bit of work, and i think klaus alluded to this in terms of the financial crisis. what the opportunity cost is of preventing a future financial crisis, we have had a very conservative analysis, and builds up to over 100 billion in any year. we have had a number of different headings. unemployment, coordination of fiscal policy, a common deposit guarantee scheme. projects,ambitious the one supported by the majority of you, potential gain could be considerable. taken the view expressed in the impact assessment study that was done for the european billion andf 60 then we have a number of other minor ones. where we h

on board with the tax play. it is the board's duty to try to get the best possible deal for its shareholders. you have got to argue the case when a company makes a tax in version move. what some people are saying is warren buffett, the man who has made a case that every american has a duty to pay taxes in the context of mitt romney and his 14% tax rate, what is he that wouldng a deal take tax revenue out of the hands of the irs? it is going to revenue canada, not the irs. it is not as if burger king is not going to pay taxes in america. of course it will. but at a corporate holding company level, it will no longer play by uncle sam's rules. it will play by the canadian rules. overseas buffett will not be trapped.- if it is successful expanding internationally, that will become an issue over time there it is very interesting. we will continue to cover this throughout the day. it is so wonderful having a canadian on board. said angry messages when i tim hortons's coffee is mediocre. >> is a matter of taste. the donut is

is that the way the english language is just? >> by the word happens may not always be an apt phrase to the phrase to happen, constitutional phrase but it is a natural use and if i may give you a counterexample but if congress enacted a statute in the summer of 2008 that said the federal reserve is invested with all powers necessary to do with any financial emergency that may happen in 2009, if an emergency first arose in november 2008 i don't think anybody would interpret that statute as denying the federal reserve the authority that congress conferred. that's because may happen -- may happen will cover every situation of a persisting state but it's a natural reading of the cover so. as jefferson said, it's certainly susceptible of being interpreted to mean -- >> general verrilli, we've taken you off your starting point. your starting point was what constitutes a recess. your position is that it can be an interest section recess. if you look back historically, congressman and then that continuously. and then they went on horsebac

the second is security. there are american personnel at risk of these isis forces coming in and doing horrendous things if they get their hands on americans. it would be benghazi times 50 and the third is strategic. iraq is a slow moving that sass territory andmoving disasterand we haven't figured out a way to go in. when you have the three factors converging that pushes the president into action. why here? why not a place like syria? the factors don't add up. it is a kind of alchemy. you can't put a doctrine or formula on it. a key phrase is obama saying we can come in and use precision air strikes and drops to high pressure the needy people and beat back the fighters and maybe to blunt isis' momentum. a case-by-case call. he made a hard call here. ii don't think you have extrapolate too much out of this. >> peter baker called iraq the freezinggrave yard of american ambition. is that true at this point? >> obama is the fourth president in a row to call for intervention in iraq. it is an argument that one cou

he is on the trajectory from the west. >> it is provocative and the story that i tell but how much economic activity is happening but the book is all about maps in a way of thinking about orientation. but that has long been ridiculous but i contend they are part of the problem. likewise it is very normative it is one direction it is live your and that is how we should be and i disagree with that. there are elements with advanced economies or wealthy societies that are problematic and i documented a few of them you think about oil dependence and over the average household's sole to the extent consumption is an issue the of the economies where consumption is constrained and it is obvious there is something behavioral to look at. and innovation is something we've talked about so much and it is always meant to be a little misguided like silicon valley where you have super cool iphone applications that will track whenever but innovation toward trivial issues. i wanted to focus of the all the economies there the most incredibly important of our time with energy consumption being very important. h

there is some optimism there. the question for erdogan, what does he due to continued growth in this country. years.he last 10 or 11 4% this year. to 2%.s put it closer inflation is a problem. he seeks to consolidate power, may erode some of the independence of the central bank and that may mean putting pressure on the central bank not to increase industry, to keep money easy as turkey continues to grow. 10 -- theo make the country the 10th biggest economy by 2020. right now, it is the 17th. >> i was having a conversation saying it was important in terms of the prime minister, in terms of flexibility, and in terms of openness to change. who are you hearing he might appoint? >> this meeting is going on now justice and development party and they are asking themselves the question, can the current president be installed as the prime minister? he could be able worth against erdogan's party. will he muster the party to take on -- will he muster the courage to take on erdogan? august 28 is when the new president has to be i

>> it is not that the detachment is costing us. the general conventional wisdom that other people are looking at this and this oneou are letting area play out over here. it could be the opposite. if we go back into iraq, you could take your eye off asia, which is even more important. you could take your eye off ukraine and russia. >> how do you define our isolationism as we look at the summer of discontent? >> i don't buy isolationism. there has been such a threat of interventionism that anybody who suggests a slightest bit of pullback is tarred with the label of isolationism. ron paul was and i shall wish and asked -- an isolationist. go backe do not want to into iraq is not isolationism. >> and putting american lives at risk. >> you started off by making comparisons by making comparisons and ferguson, missouri and iraq. are we hoping for an endgame in ferguson? >> it has been 150 years since the civil war. the federal government and the national polity has yet to fully integrate the south into the broader national consensus and pr

and the financial impact as you can see is the current is $1,250,000 and the change, is really neglectible, and our commission goes up and the commissions into the sheriff's department, and the general fund go up, and that is in return, we invest back in the welfare fund, and but what we are doing is significantly dropping the cost of all of the price points of goods and services providing by keefe and so that is the contract for you. and it is a win/win, to say the least. and again, i think that it is consistent with the other reforms that we are making to really ring in what has been a unfettered unregulated practice between corporation, private companies, and jail systems. more than happy to answer any questions. >> colleagues, any questions? >> okay. >> supervisor? >> yes, i thank you for this and just a quick question, it says that the contractor shall provide a minimum of 5 percent of the food offered for purchasing, and so, just wondering you know, as we have been talking so much about healthy food options here in san francisco, whether there was a desire to increase that amount so

jack is right. the second thing jack is right about is i think for a vast majority of american people, majority, %, 65% the two parties as presently constituted do not represent their views. the parties are not as they ed to be, a coalition of dispretty world -- disparity views coming together and represent more ideological groupings and i was trying to suggest earlier and jack said it, frankly, if not better than i did, the parties are so rigid, so narrow and so nym attacks ad homi and someone like jack who may be pro gun and responsible, the democrats will attack him for being pro gun and the republicans will say probably he wants to spend more money than we should. the other thing that happens, and again, i think it's part of the discussion, is the civility that i dare say c-span has always encouraged over its 30-plus years, and the civility that i think is so important in politics is largely, largely dissipating, if not been eliminated from our system. so the idea of having debates, sometimes even c

it is now the law. i think it is obvious, certainly from a european perspective, we our more tools to manage management online. google does a decent job try to muddle through the implications of this decision. but i think them through that it behooves -- i think it behooves them. europeans are skeptical of american coaches -- american approaches to privacy. we need to figure out ways to address those concerns. i think one way to do that is give users more tools. approachtly american is the right to reply. that is something that is easy enough to implement and it has worked in other various legal regimes we have had. there is nothing stopping people -- we all have things on the internet we probably would like to get rid of i always think about the fact that i have a bad review on ebay from 1999. i also have a response that tries to give my explanation for why someone gave me a bad review. >> i have this entrepreneurial idea that i want to bounce off of you. i am a lawyer interested in free expression and

this is not the proper forum. f that is your precondition, japan has to come to terms with its own history before we have a summit meeting. what is the connection? you come in and you demand this and that. have we ever done that to your country? that is uncalled for. is that your precondition for the summit meeting? thank you. that is my question. >> is there any other question? >> scott thompson with samsung. i'm serious about the connection -- curious about the connection between trade and you politics in the sense of tpp in particular. assuming korea joins, could it improve market access between korea and japan and lower prices? to lessen tensions on the bilateral security front, is there no connection between the two or could negotiations in the format even heighten tensions between korea and japan along the way? >> the gentleman over there. >> hi, thank you. i wanted to ask if you could share your thoughts on japan's negotiations to resolve the abductee issue. >> one more. >> the gentleman over there. >> georg

for that is the notion that isis is the threat. we have this problem of jihaddist from bag dan to damascus and the administration's attitude i think is much the same. it's attitude in sprivet much the same as what we've seen from ambassador pickering and lures and crocker who wrote in the "washington post" which said we have to ban together with all of the like minded states in the renalen that are hostile to isis iran being first and foremost among them so we should come to accommodation with them. we heard in the huffing on the post recently expressing what is a very prevalent view in the defense department and we hear from many other significant figures in the policy world. that's how i think that they see the region. personally i think this puts them in a very contradictry position. let's just say for the sake of discussion that our number one goal at the moment is to counter isis so the administration's answer to that is what we need is a change of prime ent, a change of minister in iraq to have a government that is more inclu

the loop." i am betty liu. it is 26 past the hour, which means bloomberg is "on the markets." n futures. right before the opening bell, equityal modments, futures were up earlier, even though there was lots of turmoil in europe. of the economic reports out of germany and france, also jobless claims came in worse than excited. bloomberg is back "on the markets" in 30 minutes. let's count down to the open with the top 10. the only stories you need to know about today. olivia sterns and julie hyman join in. number 10, amazon, the retail giant announcing this morning it is opening a fulfillment center in hell for you. the company opened its first center in the state less than 10 years ago. amazon shares are down nearly 20% so far this year, olivia. >> number nine, mark, the second-largest u.s. drugmaker won u.s. approval for a new insomnia drugs. the sleeping pills would have fewer side effects than review spells like ambien. i am also hoping they have fewer side effects. >> a lot of people do. >> number eight is kohl's. second-quarter earnings beat analysts' estimates. lower incen

if that is the situation, our case is simple. then, you have, under due process, a notion that when you are married, that attaches all sorts of rights. you have important parenting rights and child-rearing rights that are recognized by the supreme court. for history, that has been transportable across state lines. that is a separate argument and there is a fundamental right to marriage recognition that is transportable. then, there is another line. it is equal protection. if you have an unusual situation like section three of doma where the federal government always accepts something as a marriage and same-sex couples, they say we are not getting into the business of marriage. that is unusual discrimination and requires special consideration. when the court applies that test, not putting a doctrinal label on it, it says that that type of discrimination is a violation of equal protection and it is a principal p urpose to oppose inequality. is not whether or not a state defines marriage. it is about a pattern of practice over time t

declared that the question is the timing. this is the right time for them to be doing it. the primary target is disruption of baghdad for now. there are all kinds of other operational difficulties that are affecting companies operating in kurdistan. one of them is being able to sell the oil they produce. they cannot offload or offload in the middle of the night. does the changing dynamic on the ground change the dynamic of whether or not the kurds will be able to sell their oil as it becomes more important for baghdad to work with the kurds? does that relationship change? >> the level of risk has gone up across the board. incursion,this tiny the level of risk for curtis dan and the export of oil out of and thean -- kurdistan export of oil out of kurdi and it will bep reflected in the price. all of that needs to be factored in. what we need to watch for is whether there are further incursions that solidify this level of risk. whether there was more risk that makes it more costly for companies to be there and export the oil. >>

the biggest concern is the uncertainty. it is not knowing whether this is going to run on for another few weeks or months. they're looking at numbers not just for this year, but for 2015. typically, historically, does it take for tourism to rebound was a conflict like this settles down and resolves? >> the people who look at the industry here have told me they can be six months. it can be a year. year less tourists this and expect that to remain a problem throw the rest of 2014. the big problem is planning for 2015. how do you go about knocking on doors around the world, saying come to israel, it is safe? >> because you have to wonder if they're going to offer more promotions which might end up hurting them in the end. >> absolutely. the hotels, some of the more high end ones, have not -- kno cked down prices as well as airlines. some of the small businesses, like the guy in the story, he was focused on showing people around the city, he's trying to develop new domestic customers and arrange things like scavenger hunts for i

the law. it is also likely at least some of them are people who are members of the public who are injured by these things and could sue. my view would be it is a challenging case for the house to bring, even if they do have a vote. a court to bet on upholding the standing of the house, i would not give them more than 50-50. >> what do you think? can the speaker, the house, sue the president? my answer is surprising. i would say yes. they have sued the president over and over again. i don't think they will be successful. i think he is attempting to make an important case. i think president obama is not afraid of it. he is suing me for what? doing his job. that is the debate for him -- between him and the congress. reality is the president has already been stung by the supreme court's wrist -- recent decision. they left a little window for him to do what he needs to do. i think everybody knows the president has been supporting this idea of executive power because he has been stopped by republicans for

the volume is there a of the businesses there. is is day regular standard size business envelope is $0.90 over the counter. to dollars $0.22. there are hundreds of millions of dollars on the table. says the only plausible reason i can think they say we want to classify as this instead of this is topline revenue because topline revenue of the parcel is higher than a flat. last year strategic planning 2013 this is online it says the post office makes three times more money on a flat ban a parcel. three over one. said the post office makes more ready if these numbers are correct in doing this out lower-cost then doing this. three times more revenue. by? very simple it fits in the flat trade is easy to audibly we approve and we cannot make this that a square box is not a machinable flat we have tested we have volunteered to work with the post office. >> i appreciate it. i will not draw you into the debates of that is as secure delivery location with the benefit your company or not but they took on your side of the ideal first we will r

used in this process and that is similar to the bacteria that is used in the oil spilled consumption. >> i do not know sir, i do not know what is being spilled. >> but the bacteria that we do use, in the digestion process which is a mesofile is a very, standard, type of bacteria that we use in the industry and i have an example and in los angeles and chicago where they use the digestion, they use the same type of bacteria. >> commissioners? >> commissioner vietor? >> so, food waste? >> the... >> does it have the capacity? >> the technology, that we are building has full capacity to handle the food waste and in fact, in oslow in addition to meeting with the company, that owns this technology, we did tour a plant which is a food waste only plant. and it is a plant that was built to take all of the food waste for the entire city of oslow commercial and residential and generates energy, that is then turned into cng and fuels and the public fleet. food waste, definitely produces a lot more energy, by virtue of the process. and, so there is a lot more positive to it. and our challenge as w

the first is the silicon revolution. what is really occurring is taking the inert materials around us, silicon, and reading a level of complexity to it that rivals like itself. that's why we have all of our amazing gadgets and such. they are almost intelligent and this is just the first baby step in that direction. what we are doing is animating the inanimate world around us. if you project forward a little bit, it is mind-boggling to even think what will be possible in a short period of time. it's not surprising that this is creating a certain angst about technology. the second revolution that is occurring, every bit as profound, which is made possible by this first revolution, and that is the biotech revolution. what is happening there is that life, through us, through our cerebral cortex is, through all of our device, is learning the process, understanding it at an intimate level the processes of life at such a level that we can begin to intervene and tweak them and adjust them in ways. that is something that is the ce

the second part is the agregrate demand. it is captured in a good story about henry ford the 2nd and the head of the auto union touring an auto factor. ford is in a playful mood and jabs walter and says how are you going to get the robots to play union dues? and without a doubt he says how are you going to get them to buy cars? this was a phenomenal engine of demand in the past and they kept a lot growing. if the middle is hollowed out more does the demand dip? that is the definition of a recession and a recession is a spiral that is nasty. >> it is both from from what i can tell. there are not bigger advocates for trying to boost economy like we are. that is a business issue. we are talking about the long-term structural issues. they are not unrelated. the structural issues can lead to the drop in demand we are seeing so you need to address both of them. >> you can run an economy with a very small group of the elite at the top and a whole mass of fairly miserable people at the bottom. it is feasible. just a lousy society. sm

the job done. >>: mark is a the: 6 another strategy it's a week or so away. >>: joan rivers is and the new york city hospital this morning after and she went into cardiac arrest at a doctor's office. her daughter says that mama is resting comfortably now but would not give any more details on the what 81 years old this condition. >>: erica: we're more information on the wedding of bread and angeleno. abercrombie and finch will face all lobos by the retailer struggling to recapture the market. this is gene behavior that caught them on the wrong side of the trend. they thought the brand name shifted to cheaper. this abercrombie's merchandise margins have fallen from about 67% and 2007. they're still price higher than other teen stores. they compared purpose is of them selling $58 compared with a 14 $95 dress at age and m. >>: mark: 622 right now ober is expanding coming out where and when you can catch a ride. apple has sent out invites to the press for immediate events we finally know the date that the phone will be on vail. bulldog: if you're like me, you've been working like a dog all

see the marine layer is a down low on the screen. his system here is kind of pushing and former east and south the this is that this low pressure system is moving its way across southern california. here is the system that gave california that wet weather. were going to get some of the potentially in the bay area. it will fall late light rain for most people. here is where temperatures are right now. upper 50s low 60s don't expect any big changes are the next few hours. but eventually are temperatures will warm up to the upper '70's low 80s in the south bay. the more valley is only getting up into the mid '80s. 73 in san leandro 71 in hayward. the mid-70s is across the north bay. >>: the giants are finally waking up in new york. the giants hit four home runs in this game. the giants scored six runs off oakland a's. the pitcher threw his second career complete game shot. the giants with by a final of nine to nothing. nine this morning is our time for morning baseball. >>: in oakland a's are taking on the kansas city royals. the game ti

the index is up .4% since the coup. is it time to investor have we missed the boat? >> we are overweight on taiwan. if you look at valuations, it is key. >> 25% up year to date. >> very strong, yeah. so valuations are not strapped yet. >> the baht is strengthening as well. that might be a bit of a headwind going ahead. >> going forward, we are looking for dollar strength. i know you are familiar with that part of the world. how does thailand fit into an equity or photo if that all -- equity portfolio if it all? l >> there are three markets that we like, china, thailand, and indonesia. for us, thailand and indonesia. philippines is too expensive. excitingis not overly with potential rate increases coming later this year. >> then let's talk about indonesia a little bit. wi.have mr. jaco nexter he will be the resident, he is the president-elect, he is being challenged for that position. any chance of him actually winning? >> we will find out on friday. there have been a couple of hearings in the supreme court. the supreme court has indicated they want to see more proof.

in terms of the driveway. this is the driveway as it currently stands, it is an extremely steep slope, i believe that it is more than maybe 2 and a half inch to 12, it is almost like a roof slope. the cars have a difficulty in getting in and that is really the reason why we are regrading the driveway. i think that if given an alternate to that, we would have liked to have keep the front facade as is, but regrading the driveway is trying to solve a functional issue. and the other thing to point out in this driveway is that there is retaining wall on both sides that are quite tall and it has been fairly difficult for the home owner to be able to actually pull up and unload things and etc., without actually banging the door into the retaining wall. and we would like to request the commission to consider the widening of the driveway, which is actually shown on the packets. and the idea here being is that you know, we do know and understand that we like to keep the driveway as minimal as possible throughout the city in res

the cease-fire is interesting. unilateral grade the israelis are saying we are just going to figure out what our objectives are and decide what to do after that. >> right. weekendelis since this disputed this cease-fire breach. israel said that hamas reached it. hamas essentially tried to capture a soldier. don't trustthat we hamas anymore. will end thislly operation whenever we decide to under terms that we decide. >> in terms of the implications of the diplomatic effort, what are they? israel's foreign minister just went on and he said we have to figure out what to do with gaza after this operation is over. he called on the u.n. to see about the u.n. taking over gaza. most middle east watchers would dismiss that as difficult if not impossible until hamas is no longer in control. israel has been floating the disarmsity that israel hamas and gaza exchange for economic opening and the end of the siege of gaza. there is an increasing debate about disarmament of hamas for economic improvements in the situation there. a

the drama is over. e have the details. >> it is sad that this run with these teams have to end, but all good things do come to an end. youth sports are fond of saying that there are no losers as long as you do your best. in williamsport, the kids competed in a way that will make what's already been a memorable summer even more so. >> the 13-year-old sensation monet davis leading the dragon versus chicago's south side all-stars. it was a nail-biter. >> pennsylvania flied out to end the game with the tying run on third base. chicago eliminates pennsylvania 6-5. the first all black team to make the tournament since the 1980's now has ultimate glory in its sights. >> it feels good, because it was 31 years, and some people thought we weren't even going to make it past eveningen also and now we're at the u.s. championship. >> waiting for chicago is the team that beat them 13-2 this week, the powerful team from the west, nevada. >> we're going to do some defense, some offense and practice and we're going to get

the jam up here is amazing. you may recall on monday with the c h p said that's why they did not open up on monday. well here is a classic example of what a vigil has it can do because there are no lanes blocked and the westbound direction. will >>: he tell us about 530 about 7:00 this morning and were at 7 and not making progress. but the driver was carrying grain at the time. the grain is still in the container and it did not spill over the freeway. their writing and saying possibly until 8:00 this morning until they can clear this. that is the result of traffic is still slow and go. westbound of 580 are still in their driving for seven or 10 m.p.h.. on the right side ivars the three lanes still shutdown's 580 be to the need all those lines to operate the big break. >>: lots is gone right now. they simply do not have the room to make a u-turn the day will give it a shot. if they cannot to do that they will have to shut down traffic before the next exit to allow the container to be moved safely against traffic.

the occupation is just. injustice. at the heart is systematic immunity. you have communities where -- that are located near settlements, military bases. anything where the occupation has infrastructure, this is where palestinian children particularly are impacted. i work fortion -- defense for children international palestine -- the only organization that focuses specifically on children. we started in 1991 to provide legal aid to children charged and is a rayleigh -- in israel he military courts. withinn are brought israeli civilian courts . the treatment is very much the same across the occupied territory. ,'s case is terrific but not exceptional. it is a typical case. document hundreds of cases each year. provide legal representation to kids. you have a system that provides little legal protection, little legal rights. they are arrested in the middle of the night from their homes. blindfolded. their hands are tied behind their backs. and 75 percent of the cases, there are some form of physical violet. -- violence. is set up to control people. the milita

those settle while the economy to redistribute that is the lifeblood of the economy is the essential role which is why all high functioning economies have governments which do that. here is one way to think that there are 205 countries on earth have a simultaneous experiment and 50 or 20 are working and you can name those countries. united states and canada and austria and germany and so forth they have high rates of progressive taxation and high amounts of regulation every place on earth where you don't have that you have a hell hole poverty-stricken because these are required for a capitalist economy. with redistribution is an important part of that. with respect to the book i of 500 pages into it and i've not finish but thomas has made the great achievement bridal believe it is economic or historical in the sense he has gathered the best set of data and the world has had about the accumulation of wealth and what he can show is a concentration of wealth is inevitable part of a market system. he misidentifies the causes which is the rate of return and the simple fact is the economy i

he was the best. is he dead at the age of 96. >>> and they will resume their schedule with an unofficial celebration of robin williams -- robin williams life. comedians will be back on the stage and they used to work here. the show sold out and they are working on details for a larger tribute to celebrate. >>> they also want to rename something after robin williams. assemblyman says he is very interested in the issue and will be exploring it further. they are known for their rainbow colored paint and the payment reminds them of the suspenders he wore in the breakout show mortgage and mindy. >>> -- morgue and mindy. >>> glasses -- classes start next week and when the students arrive, they will not have computers, crayon, paper or sports equipment. this school mostly serves low- income families. the principal is installing tough new locks even though they are not authorized but for it's part, the school district is installing stronger school doors. >>> we are following breaking news coming in right now fro

"the stream" is next. we'll see you in half an hour. ♪ @j >>> hi i'm lisa fletcher and you are in the stream. drones in the united states. there will be 30,000 of them flying above your head within the next 20 years. is america ready? ♪ >>> by september 30th of 2015, the faa has to have regulations in place to allow unmanned aerial vehicles, more typically known as drones into the nation's air space as the

what the scale of it is,s the one in 1,000. now the next step is migration. and in that case, under the circumstances a very hard issue to demonstrate especially when we're talk about the u.s. legal system. we're not dealing with refugee but asylum claims. where you have to demonstrate that you are escaping for fear of your life. and you may be escaping because police forces, security forces threaten you but not for political reasons, they were doing it for reasons associated to organized crime. that makes it a little difficult. however, i think it still constitutes if you escape gang violence, if you demonstrate it, it can constitute ground for asylum. there are other grounds when you can demonstrate. the problem is how many people that escape, that left their home countries able to demonstrate thate effectively. this is why some groups are are talking about refugee status because the situation is one of a critical mass of people who re just simply leaving in mass given they fear for their lives. none of the people we have lked to came without a smuggler. so

the kurdish army is and the ones from the air. all that is relevant right now and that seems to be a urning point not only with dealing with isis but the future in iraq. the fighters right now to rid northern part of iraq kurdish army. about is if the united states say, no new york on't do that and we won't help with you that. the overall reaction going to be if they get involved fight and start rolling them back >> we have seen that they are into the o get back fight. i first want to dispute the your question. we believe there's an important role to play in this broader fight. that's why they are included in the joint operation sent skprt united states the close o maintain military to military coordination that exists. he reason according to the assessment of our analysts, the we saw a -- a capability of iraq's security forces is that it was not integrated in way reflects iraq's diverse is a tion and that consequence of failed political leadership. when you have a political eadership that is not demonstrating a commitment to an in

the u.s. homeland. what is the truth? is the homeland under attack? u all presented what should be done or should be done. what is your assessment of what the obama administration will do? and going forward with congress demanding votes, what are the challenges the administration will face moving forward with whatever they plan to do? thank you. >> in answer to your question, it is hard to say what their policy is and they are going to do. you did have both the secretary of state and secretary of defense on the same page, saying isis is a threat. a serious threat and your nationally and potentially domestically. we have to do something about it. what is the truth? is the homeland under attack? you all presented what should be done or should be done. what is your assessment of what the obama administration will do? and going forward with congress demanding votes, what are the challenges the administration will face moving forward with whatever they plan to do? thank you. >> in answer to your question, it is hard to say what their policy is and they are

that is very bad. thedea is if we put all of these people on welfare and put them to work and they can live in a respectable way, we are all going to love each other. the white people gave these people the freedom. we did not bring them in america. there were slaves in africa. i was there. my nephew is over there. host: thank you for the call. guest: i do think our welfare policy has expanded exponentially and it has been destructive to people. this was the warning coming from the roosevelt administration. michael harrington talked about how it should be an ambulance system, never a transportation system. welfare is say that not necessarily related to downturns in the economy. increase in welfare participation occurred between 1965 and 1971 in the city of new york it went up about 500,000 to 1.6 million people and this was encouraged by the social activist. it was an attempt at -- when we began to see welfare, not as a social insurance or safety net, but as reparations following the riots, and let me quote

this is on the front page. this is on the opinion page. his has a tag with a logo that tells me it is someone's column. these things have blended in. with that these traditional differences have started to go away as well. >> the next questioner is anita shaw, the president of the atlanta press club. she coordinates investigative reporting for bloomberg. >> thank you. quick question. what new technologies are you both watching closely and think will potentially be the most disruptive? >> this is not a new technology but i will say i have become a heavy user and a fan of twitter. i find it an indispensable source of news and information. i haven't seen anything that is as useful to me as twitter. twitter has only existed for less than 10 years. well under 10 years. as i watch what is happening, that is something i am weighing against. what is going to have the impact of facebook? what is going to have the impact of twitter? i have seen interesting things, but i haven't seen anything that looks like it is as dominant as that. >> social media