tim stenovec is with us. what do you see? tim: good morning from west texas.it is about 69, 70 degrees, wind is seven mph. it is a cool morning and i see a lot of people who are excited about what is going on today. locals tell me this is the biggest thing that has happened in the decades of living here. the town has about 2000 people. but also tourists who are totally unaffiliated with blue origin. people are interested to see what is happening. sitting here for the last hour, several people have stopped just ask me, where is the best place to watch this? someone came to my car and said he flew in from new york city to watch this, the second blue origin lunch he has seen. it is doing the job jeff bezos is hoping it is doing, of inspiring people. tom: what is the significance -- we have seen the fumes off the rocket -- of liquid oxygen and liquid hydrogen? it is very traditional rocketry. tim: what is interesting is the technology has not changed in terms of propulsion significantly in many years. there are a lot of similarities between this and earlier types

tom: she has the same line as tim stenovec yesterday. jonathan: you really are reminiscing. tom: john, i thought you killed it. you are way prepared. jonathan: i feel like this is disingenuous. you had a great night last night with matt miller. tom: we did. that is in from berlin. jonathan: i understand we have reestablished that connection with frances donald. francis, have we got you? frances: we have reestablished connection. jonathan: part one -- gdp call for next year, what is that? frances: i do not even forecast 2022 gdp at this point, because a range of outcomes is incredibly large. what we need to be forecasting is the 10 year yield, the shape of the curve, and what the infrastructure packages going to look like. this is a key when you are a buy-side financial economist -- how will the deviations change? we've already seen the peak. we will see disappointment. the biggest challenge is what will happen to chinese policy next? that we hit peak macro is not a surprise. anyone who can do year-over-year new this was going to happen. what was a surprise is how tate chines

and then on the way down, as i was talking on tv with emily chang and tim stenovec, there it was flyingrhead. the moment the wheels touched the tarmac, that sense of risk and danger went away and you can actually feel all those virgin galactic employees loosen their shoulders a bit knowing their crewmembers were back safe. it is astonishing. kathleen: it doesn't mean it's not risky. thank you for sharing that with us from new mexico. now for a quick check of the latest business flash headlines. the world bank and imf are outdated, it was said and require a massive overhaul to bring sustainability to the developing world. he said the world bank and imf would be more useful as insurers to reduce risk for private investors. private equity firm lone star funds said to be looking at a deal to acquire aoc. sources say an agreement to buy the composite resin business could be announced in the coming days. a surge in activity has contributive to a deal volume of 2.5 trillion dollars in the first half of the year. softbank's second business fund invested $13 billion, including investments in at