since we became an inflation -- thisr, there are recovery in the u.k. started after the recovery in the u.s.. we are catching up. we may have a little more flexibility in our labor market because more people have stayed in the job market in the u.k.. we will take our decisions and we are certainly informed about what is happening. we will take our decisions based on achieving our targets. inflation around the west? inflation is very low. it says something about the .odern economy >> what has happened is that we have had a beer he severe shark, to severe shocks. want to global demand. the other -- one is a global demand. the equilibrium interest rate that are consistent with achieving inflation targets and have an economy grow have progressively fallen over the inrs and aggressively fell the aftermath of the crisis. the ability of central banks to stimulate economies has been challenged. arguably, they have been catching up to provide that degree of stimulus. i would argue that both the u.s. and the u.k. -- what has happened in the last several years, be

here's what we know at thisr surrounding the investigati into the terror attacks curity forces >>> hi, everyone. gavin. i'm frank mallicoat. >> i'm michelle griego. here's what we know at this hour surrounding the investigation into the terror attacks in paris. french security forces raided an apartment building overnight where it's believed isis militants were living. authorities say the terrorists there were plotting a new wave of attacks. two terrorist suspects were killed and seven arrested. jonathan vigliotti reports that police may be getting closer to finding the mastermind behind the horrific attacks. >> reporter: heavy gunfire and explosions rocked the paris suburb. s.w.a.t. teams hit an apartment building looking for the mastermind of the terror attacks. >> i heard the -- some explosions, four or five explosions and then i opened the door and i heard gunshots, many, many gunshots. >> reporter: telephone surveillance and eyewitness accounts led police to believe that abdelhamid abaaoud may be hiding in the building. seven people were arrested but they haven't said whether the

focus thisre i would supposedly coordination, which sadly i do not think is going to occur. turner, thank you so much for your thoughts. we will be back with adair turner and luigi zingales. this is "bloomberg surveillance." ♪ francine: welcome back. this is "bloomberg surveillance ." these are live pictures of london, with the british banking association saying the u.k. needs to take urgent action to keep tanks in london. now it is time for today's single best chart. tom: i want to drop in a data check. markets are still adjusting off the carnage we saw yesterday. .he german two-year, -.37% copper continues this morning. to the marketght this morning after the excitement yesterday. the excitement yesterday is our single best chart. , an approximation of oil adjusted for inflation, and adjusted for rising developed nation wealth going back since time began. luigi zingales, the bottom line is we are back to where oil is cheap again. i know at some point that is good for society, but before that we have to get through a lot of carnage, don't we? in theyes, that i think united

just living two blocks to thisr. on the route you can see behind is the backups that are building approaching the key bridge along the street going towards the key bridge. backups continue. we seen a lot of weaving in and out of traffic. a from look again and you can see traffic trying to merge into one lane. or merge into a couple of lanes. people coming out of the turn lanes and try to get back into this thoroughfare lanes onto the key bridge. we are starting to see a little bit of movement that is very slow going. leon: good luck out there. alison: a ripple effect from the area. we have got weather that is still pretty mild. it will be changing. doug: we have the rain this morning which is like running 300 miles ahead of the cold front. that cold front will come through about 9:00 or 10:00 tonight. tomorrow the cooler air will the coming in. it will be windy and in the chilly air arrives on saturday. let's get started with a time lapse. still 63 degrees right now. you can see the cloud cover early this morning. th

military officers association of america, our cohost are this thisr this years -- for year's celebrationresentatives of our veterans service organizations. fellow veterans, members of our armed forces, ladies and gentlemen. as many of you know, president obama is scheduled to present the medal of honor to an american soldier tomorrow. captain retired florence t gruenberg. tomorrow will remark the 10th time in living service member has received our nation's highest valor award for actions in afghanistan or iraq. seven more were posthumously awarded the metal. the medal. at tomorrow's ceremony, president obama will address the specifics of captain grover heroism. but let me say that in the worst of circumstances and without hesitation, captain gerbert ber acted in a manner that saved the lives of many of his comrades. tragically he could not save them all. when he was informed last month that he would receive the medal of honor, he said, "this metal belongs to them. it's my mission to tell everyone thank you for recognizing me but this does not belong to me. it belongs to them. that's how

that thisr, let's say is a big turn in monetary policy and we are entering a long-term bond market -- what has not existed since high-yield bonds emerged in the early to mid-1980's. margie: i am not sure we are on term perspective to a higher rate. i think we may be on the way to deflation. i am not looking for long-term rates to go anywhere. even if short-term rates climbed by 25 basis points and maybe more in subsequent rate hikes, you see the long end will remain pretty anchor? margie: because of low inflation. what they have done with zero rates is forced money into financial assets that have not gone into real roots -- real growth into building new businesses. are seeing yield spreads widen out and why we are seeing some stocks wobble and crash. it is more delivered players that are taking the market down than the real economy. erik: that has potentially troubled banks, right? a flat yield curve is not helping the banking industry. margie: they will not make more in the interest margin and they will not have loan demand, partly because of regulations limiting it. even more broadl

the courts have said the states can restrict -- thisr -- [ inaudible ] >> the court will hear this case yet, either in late february or mid march with a decision by late june. so one way or the other, the issue of abortion will be coming from the supreme court in late june and potentially injecting it into the presidential campaign. >> thanks, pete. joining me now is carol tobias, president of the national right to life. are you there? >> yes, i am. >> i'd love to know your reaction to the supreme court taking this up. >> well, we are anxious to see what they will decide. many states have been wanting to place these kinds of limits on abortion facilities and to set up some standards for them. so we're anxious to see what they think should be done. >> the argument has been that it limits women's accessibility to health care, to reproductive health care, to abortions. what's the argument from your point of view and what would you want to argue before the justices at the supreme court? >> well, we have heard for many years from abortion advocates, they are being picked on, singled out, whe

. -- thisre is a tweet viewer writes that student protests used to be about the desire for free speeche new protest are a desire for closed speech. what do you think that person is saying and what do you think? guest: we have seen a lot of this criticism over the last few months, this idea that students are demanding that speech that they don't like being censored or shut down. i think there have been instances which fit that description. for the vast majority of cases, i will take issue with that description. many of the incidents and many beene protests which have described as being focused on censorship or shutting down speech, i would describe as robust criticism of speech. a call for a trigger warning in the classroom is not a call for the curriculum to be censored. it is a call for a certain kind of a relationship between it isy and students, and a criticism of faculty practices in the classroom and criticism of faculty is a right that students have. cases,, many of these what i am seeing, is that robust, aggressive, vigorous criticism of the speech of people in power is being ch

thisr: i appreciate opportunity.ne of the things that i think is really important about this is that people are calling in and denouncing what happened at the university of missouri. must understand that that university itself, that whole community, the faculty, the students, the football team, all said at the university of missouri was out of control when it comes to the history of diversity. i taught for 40 years at a university. there is racism on every campus. i do not know that everyone has to have a demonstration about it, but obviously, in this case, there was. and the university community itself, even the board of trustees, whatever reason they appointed this new president is because they are trying to address the problem. but the people who are calling in, their racism lays them to three things -- denial, resistance, and resentment. they resent the fat that black people are in this country. they resent the fact that black people want to have equal rights and be treated with dignity. you can hear it in their

thisr: my thought is about , i am a black man. old.l soon be 61 years when you start talking about the understand whyt we don't really address the problem. these young fellows make more money, 15, 14, 16 years old, then us. what interest do they have -- they make more money than i do telling drugs. -- they make more money than i do selling drugs. what interest do they have an education? we have got it backwards. .ids like guns we will does not do anything about guns. they know they have guns, they know they have drugs. let me say one more thing and that i will hang up. let's take isis. nobody talks about the basic fundamentals. where did they get the money? host: we will keep it to the topic at hand. guest: that young person who dropped out of high school to sell drugs, as you say, they may make more money for a short. -- they may make more money for a short period of time, but the reality is they will end up incarcerated. you see about 75% of your inmates are either has will or essentially illiterate. with that means is that they

when going to claim is under putinism we'v we have seen thisr presidential system that he inherited become even more super, super presidential by weakening all of these alternative sources of power set out in the constitution. weakening the parliament, civil society, taking control of the media, constructor with the collect article upon which weakens the power of regional leaders and so the that's on the formal institutional side of putinism. at the same time in parallel to the system is the informal political system which is made up of a series of competing plans that were networked together and they compete across institutionalize come across the lines between politics and economics, the resources and for influence and for power. i would say the combination of these two factors, the sort of electoral authoritarian if you have a formal political system and then the informal network system come into a political scientist which is one of the key quote-unquote findings about russian politics. i think this is a widely accepted point about post-soviet russian politics. it has many names. richa