lemonis: hey, tom. tom: hey, marcus.do is i wanted to go over that tailgate trailer that you guys were working on. tom: yes. lemonis: with the waycross facility getting sorted out, i wanted to head back to tampa to see what tom and nancy were working on. i gave them the task of coming up with a new product, and them working together is important to me. tom: all right, let me pull up the file here. lemonis: and so, did you do the sketches on these? tom: yeah, i did the sketches on these. i did a -- nancy: hey, guys. lemonis: what? amber: i can't get past your khaki pants. [ laughs ] nancy: hey, do me a favor. walk through the shop there and grab the guys, okay? real quick -- i want to go ahead and pass this out and let everybody take a look at it, okay? and then we're gonna go into some [bleep] right now. you see, this is a customer-service order. there's an imaginary tammy that works for this company in one of our dealers that he will not allow me to meet! whose phone number is tammy's?! whose number is this on tammy's p

have you heard from tom?" and he said, "no, but he didn't show up at work. >> reporter: what's going through your mind? is there concern or just, oh, maybe he's at the gym? >> tom would never miss a morning of work. >> reporter: linda jumped in her car to to retrace her husband's steps, hoping to find him. she never imagined that search would lead where it did. >>> when we come back, linda's heartbreaking discovery. >> i saw his car. i was like oh, my god. >> he had gone to gym. in fact, he was still there. >> i'm like wake up. what are you doing? they're looking for you at work. i was like oh, my god, this can't be happening now. >> reporter: tom kolman wasn't the kind of guy who didn't return calls from his wife and he always showed up for work. his family says he loved his job as a physical therapist. >> he was always dedicated to, you know, his work. and he loved it so much, he went to get his doctorate in physical therapy. >> was he the type of person who liked helping people? >> he did. elderly people ju

and tom's mother sandra.o time to get creative. >> it had been my experience when i had worked in the narcotics section of the sheriff's department that often people throw away valuable evidence. >> dove asked his fellow detectives to help him because he decided to search schrauben's garbage. so what did they tell you when you came up with that idea? you're crazy? >> i think their first idea was i'm really starting to lose it now. i'm wanting to dig through someone's trash. >> so faithfully once a week he got up at daybreak and made the hour-long journey to schrauben's home. where a truck would bring it to this nearby parking lot. >> we would have the truck dump the trash in a somehow of a pile here regardless of the size. >> right on the tarmac. >> right on the tarmac, scatter everything out. open every bag. get down on our hands and knees and slowly sift through every piece of paper that looked like it might be a document of some kind. >> and that's how dove's team found this coffee-stained phone bill, show

called tom. i told tom, the door's locked.e would call his mom and get back to me. >> according to brett, tom called back within minutes with a backup plan. >> he said his mom's going to go out that night and it needed to happen tonight because his mom can't take it anymore. if we didn't do it, tonight, mom would do it. >> they returned at 9:00. the story was he dropped his friend off at the house and drove around the neighborhood while his friend snuck inside and stabbed jack jesse to death. >> we had walkie-talkies, and he called on it when it was done and to pick him up. he had blood on his we looked for a place to clean himself up. i believe there was a del taco we found to clean himself up. >> the information he provided, if we could corroborate what he said, would blow the case wide open. >> police questioned his friend. he denied everything. he said he wasn't in the car, wasn't at the scene. he didn't kill jack jessie. so he was allowed to walk. and investigators focused on building their case against tom and sandra by

tom: let me bring up a chart. tom two dollars a share up $200 plus a share.he moving average and reinvented itself. yesterday saidds once again, tencent has to reinvent themselves. if they look for that if, what is the new life going to be? -- what is the new like going to be? alex: tencent is one of the big , which is theeo response to tesla. they have yet to have a car selling. electric cars is a new platform through which it could pump its services. it thinks that as well by the amount of money it is spending audit. tom: do we know the auditing of tencent? is there a transparency of management? look, they report exhaustive earnings. we have got the full numbers. i am not a forensic accountant so it is not for me to say. i think we will have good clarity on where they are heading. tom: alex webb, thank you so much. coming up, what have we got? the markets, the recovery, futures up 24. we have got bank earnings, mr. diamond will report. the balance at sheet of jpmorgan, go police the headline data -- go beneath the headline data. the conversation today on ca

tom: thank you. .zing how two laptops in the keene family have broken in the last 48 hours. upift to the market, futures . next screen, if you would. the vix, 22.34. yen gets my attention. a weaker yuan over the last few days. gold gives way, down six dollars. nejra: it really is showing risk. 600 up.ta, the stoxx i wanted to show the lira and the indian rupee. in rupee has been crucial this session, weakening on this standoff between the central bank and the government. is central bank independence in question? 1.1%, butt crude up overall oil headed for its worst monthly loss since 2013. tom: mexican peso weaker over some domestic policies. to the bloomberg right now, we've got jane foley. anthony dwyer will join us in the next hour. high-yield really quite good. , and this is a better perfect high-yield market. this recent leg up gives everyone's attention and a modest pause. the link with equities somewhat tenuous right now. nejra: some people saying credit is the next big drop off. some saying you

tom etheridge, nice to meet you. >> tom, how are you?good. >> this is the headquarters for worldwide trailer? >> this is the headquarters. >> did a little research. the product you guys make is good. >> yeah. >> now, how much--how much revenue is your company doing? >> we did 4 million last year. >> and so how much of that actually fell to the bottom line? how much did you make? >> maybe 400,000. >> how many will you make a year? >> about 125 trailers a year. keep in mind, not all trailers are food trailers. even though that's what we specialize in, we'll build emergency command post trailers. we've built mortuary trailers, casket trailers. we're pretty good at what we do, marcus. we've been doing it for a long time. >> who's that? >> that's kita. >> that's kita. that's the shop dog. >> yeah. >> whose dog is that? >> mine. >> it's my dog. >> no. >> [laughs] >> no, that's my dog. >> your dog, his dog? >> no, it's mine. >> oh. >> used to be my dog. >> no, it was ours, and she stays with me. >> oh. >> we were a couple for 20 years, but we'r

tom: very good.orrelations of the market gary shilling is legendary for price change and his multi-decade call on lower interest rates is the call of a generation. you and i remember the tipping point of deficit to gdp. where is that tipping point today, 5% deficit to gdp? , it is globalized world higher than that. tom: a bigger number, a worse or number? >> probably right now. the u.s. is a safe haven. it is true recently that foreigners have not been buying treasuries the way they were earlier, but when you look at global troubles, there is a great willingness to hold treasuries. u.s. banks, the only asset classes increasing our treasuries. at 85% level, gary shilling would suggest we have to get to a larger deficit to gdp before the angst clicks in. defined what dollarization is. all those dollars in debt abroad , what does he mean? >> in countries like turkey and , it seems muchs more economic for them to borrow private dollars to fund sector activities or public-sector activities, rather than is

tom: is there one here?00 companies in 2015 use supermicro products and it's such a small piece of the supply chain. you bring up the military. what half r what happened is they end up in elemental which was acquired by amazon in 2015 to expand what became prime video services. guess who else uses elemental, which is a video processing service? fantastic software but use supermarc, o hardware and that's d.o.d. and others and we don't know where it goes beyond that but happens to reach customers with sensitive government and corporate secrets. francine: i'm going to read out part of the third paragraph. first of all, congraduates on an outstanding piece of investigative work and urge everyone to go on their website and open it up and read it. on the server's mother boards the testers found a tiny microchip not much bigger than the grain of rice which wasn't part of the board's original design. how many of these things are tested? does it mean that we need now to test absolutely every particle? joel: it really

tom: thank you.ladelphia eagles coaching office after a loss. john hudak is with us. are we going to get gridlock? john: the republicans controlled the house, senate, and presidency and there is gridlock now. imagine in a few months if the democrats take the house back, gridlock will increase. very little will pass congress and very little will be entertained in the senate. how does the u.s. deal with saudi arabia in a convincing way without upsetting president trump? john: it is difficult for the u.s. to deal with saudi arabia. congress has play an independent role. it is a separate branch and it needs to speak with the type of unified voice that the administration cannot muster the ability to do. congress has a role to play, even in the space around sanctions and they need to do that whether the president likes it or not. francine: are we looking at sanctions and are they going to be real or just sanctions to give an idea they are putting sanctions? quite a feware republicans and democrats in the s

tom: we are below 200,000.per numbers that are higher than what carl riccadonna is used to. say, we areou looking at equities, do we sustain that? i think we are still enjoying the surge the economy has enjoyed from the tax reform, which has resulted in gains in earnings and has helped the employment picture. and a labor pool shrinks skilled labor becomes more difficult to find, wages are up. that is going to go through 3% soon. we are not going to be sustaining -- that number is more like 175 for the next 12 months. tom: you can hardly see this on the chart. we have got the moving averages clustered in. in 2010, is a blowout number. are we going to see a blowout today? 350, 340? that number was related to all of these flips higher to conduct the senses. of people are higher for the playoffs, right? howard: the wages were low. with faster gdp, you get faster hiring. we are having constraints in the labor market. even if you're having a fast quarter, you might not have those robust payroll gains. workers are not

tom: very good. exciting to be at the imf asked madame lagarde announced a new chief economist for the international monetary fund. wonderful as well was the gentleman who wrote a textbook to this study, -- rogoff. chief economist, reset spelled. the possibility that china and the u.s. resolve their differences would be an upside to the forecast, and at some level, i think it is not surprising that we are more tentative in our optimism then we were 10 months ago. tom: table published a green book, a redbook, a yellow book. chris, let me start with you. in the similarities to the massive divergences of 1998, the major message is developing countries versus the em tensions that are out there. are there whispers here of the ?hosts of previous crises >> i think we are getting into one of those environments were u.s. interest rates are getting neutral or even tight next year. talking about india, and energy importer with energy prices high and the dollar high as well. that is a double whammy for those em

tom: thanks so much.gn minister of turkey stating very quickly that they had short, but productive talks with mike pompeo. he also goes on to mention the topics include the journalist, syria as well. headlines beginning to come out. let me to a data check. what a lift yesterday. negative four on s&p futures. euro slightly weaker. vix coming in with a vengeance. forget about the rest. i am fascinated with the continuing negative yields in germany. -0.58, down from .52. that really gets my attention. francine: so it should. is an interesting story because they have less stability when it comes to politics. germany is also trying to shield a lot of their businesses from a brexit tax fallout. what i'm looking at today is earnings overall. that is giving a nice lift to some of these european stocks. they are paring their advance on wednesday, but still higher. investors trying to figure out what these earnings mean. nothing has really changed. the underlying of this positive news from earnings is still with tr

tom: thanks.g the news of a saudi investigation into the disappearance of mr. khashoggi. a lot of news on sears and dell. markets, it is the perfect time to speak to an international economist, someone who has done work about your markets. he is carl weinberg of high frequency economics. -- back, carlpark weinberg goes to the yield. page four or page five of a weinberg note always campuses yield. what does yield tell you now? carl: the fed is hiking rates and that is putting upward pressure on yields. a good bidng europe on bonds, other than italian bonds. rise ineeing a general yields which tells us there is concern about inflation driven by oil and that ties into your story about saudi arabia. tom: let us go to hr. this is the way -- go to a chart. this is yields back 60 years. 10%, 11%, 12%. down we go. have we broken trend? carl: not yet. we will not. fed tightening will push up yields over time. looking for an inverted yield curve in the near term. in europe, we are not seeing it. in germany,

tom: thank you. what we have seen this week from saudi arabia, washington, and turkey. benjamin harvey has been in charge of our operations for bloomberg news in turkey since time began. incredible with perspective. what is the next step for mr. erdogan in this crisis? >> i think the turks have presented some evidence to the u.s. at this point, i think they are waiting for the trump administration to come up with and sort of response ramp up the pressure on saudi arabia. tom: walk us through what mr. erdogan and his government would like to accomplish. i don't understand what their goal is with washington and president trump, and i don't understand the relationship with the royalty of saudi arabia. what does turkey want to accomplish? >> turkey has a very complex relationship with saudi arabia. on many issues, they are on opposite sides of the spectrum. particularly over the approach to the muslim brotherhood. turkey has become the base for the muslim brotherhood. saudi arabia sees them as a major se

tom: this is critical.t in the last 12-24 hours from a statement we heard through the week? , we are seeing at the moment, good interest to buy dollar and the classic risk off proxies outperforming. news, we will probably see a little bit more of that. tom: very good. elsa lignos, thank you and sebastian raedler. this is a fascinating discussion as we see market movement again. futures at -35. mick mulvaney, fiscal conservative, he is director of the office of management and budget. fiscal conservative. the 9:00 hour. let us look at data across equities, bonds. yields on the screen, a lower 10 year yield. through 112. this is "bloomberg." ♪ francine: mrs. bloomberg surveillance. tom and france -- this is bloomberg surveillance. relief in the tech sector was short-lived. alphabet down after reporting a second quarter of sales below estimates. amazon also missed revenue targets. out for bed is down about 5% ahead of the u.s. market open. -- of the we will be back is down about 5% ahead of the u.s. market open

tom: there you go.g engineer on the shop floor in building five. tom: you are boring and did power systems and the financial guys came in. what did the financial engineering guys get wrong as they show to the door? there were a lot of things. when i left and i had the honor of working with jeff welch, was a tremendous friend and mentor and i/o a lot to him and the opportunities at general electric going forward, home depot etc.. we lost the intensity that jack had and the accountability. he talked about, let's have people with energy. tom: financial controls? a positive way. we had responsibility and accountability. we had operating views and attention to detail. ned in theat wa transition from jack to jeff. some of the cornerstones of general electric were gone, appliances on the way out, transportation, nbc universal. now we hear medical systems and health car sys than what i remer it is heartbreaking. francine: it's a different company, but a different environment. it is more difficult to run the com

the >> tom: that is true. she is an absolute superstar, and she was going out of the top of her game. she has served in this role as u.n. ambassador during two of the most tumultuous trance formative years in u.s. foreign policy. i think she will be very fondly remembered for someone who demands respect on the world stage, a forceful and articulate you a spokesperson for u.s. interests. she was always come from entry. even when she disagreed, she was also always very forceful but respectful by the scenes. her fingerprints are all over where u.s. foreign policy has been. >> harris: when you look at the high level of departure, if you will, from this president within the ambassador, when you say heads of state in the oval office, and this powerful person of the u.n.'s outgoing -- >> it's a fascinating moment. it happens on a day when we thought we would all be talking about brett kavanaugh being sworn in last night. for the people talking in washington who are close to her, they'll say she has been saying for qu

tom: thank you.nversation on judge kavanaugh or trade, he could even be on butlatest repair our volvo, far more importantly, all you need to know is the democrats in the district of virginia is why planes are gone time that reagan. how many joins us times a day international questions your office, what are you going to do about reagan, you must get 10 times a day. most of the time it's airplane noise rather than helicopter noise. on the edge oft your congressional district but it's a part of the buoyancy of the city, and reagan is doing well. rep. beyer: it's doing very well in dallas has suffered. dulles has suffered periods underutilize and very expensive. i'm sure would expand the budget deficit out to $10 trillion. your thought is the senate battles over judge kavanaugh. get beyer: i'm so easier to through this credo into a judge will has when i been reading the emails back-and-forth from my classmates from 50 years ago a very divided. i can't remember seeing a country is divided between who beli

tom and i are good friends. i met tom about 15 years ago. tom was very good friend of my family, antrim and so forth through the office of hawaiian affairs and it's interesting how our paths have crossed again. my research began i would say almost 15 years ago and that was just pounding the ground in getting things done. i used to be an officer in the army. i would apply a way of looking at information through military lens and that's what i began to understand hawaii. i would say may collegiate research began in 2002 that were refined that research into the phd level i wrote law journal articles on the topic of hawaiian sovereignty, the lack of annexation thus the word occupation. when we speak of occupation, occupation is a fact, but what i bring into the fold is the rule of law with the law of occupation as it applies to occupiers and i take hawaii's history were not just hawaii's history but the history of international law as it existed at that time and track it forward. we call the intertemporal law. with the events with that event and

tom: thank you so much.how coordinated are central banks right now? we saw the president's comment yesterday about chairman powell. themselves?bank for ken chairman powell avoid the em conditions you write about every day? >> i think a good man of resilience is in the u.s. economy complement of the tax cuts. even though em stress will intensify because tariffs weigh on china, that keeps the fed on track. tom: what i hear interview to interview is an oddness to this market. what is the oddness when you look at the coordination and linkages between equities, bonds, currencies, and commodities? of the u.s.ience economy in the context of so much stress outside the u.s. and the outperformance of u.s. assets. there will be a re-coupling of these economies lower and the assets lower. i don't think that time is now. the latest data out of europe is looking like trade policy in the u.s., the trajectory will persist. francine: how much longer? that keep pushing back point. if we had another quarter of lower pmi, highe

tom tom was -- tom was questioned by the team. >> tom and paul manafort our friends. -- are friends.igher associate of manafort's helped tom manage his appearance on television for the trump campaign. left the campaign, he briefly worked as a consultant for colony. you see the's touch with guys who are now in legal trouble -- guys were inith legal trouble, but there are no implications this has reflected poorly on tom. paul volger. carol: and why companies cannot afford to fire workers, but are we training instead. jason: "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek." carol: you can also listen to what's on the radio -- us on the radio. jason: and in the bloomberg business app. ol: president trump blasts the central bank for the intention to keep raising rates. he said he may be regrets appointing jay powell. but he is hardly the first fed chair to feel the heat from the white house. emo openser's new mo a window into how past presidents try to impose their will on the fed. carol: we talked to christine harper. volker haspaul worked for six presidents. h

tom: thanks so much.ly week to say let's agree position where we are with futures at negative seven, dell futures at -79 right now. futures bit of -- dow at -79 right now. the vix at 24.47. much worse in the gloom of thursday and friday. the dow settling 24,688. is a little ahead of the doubt in terms of gloom. renminbi ever closer to seven yuan. this is what i am looking at overall. european stocks started to weaken, largely ignoring some of the mixed picture across asia and slightly weaker u.s. futures. some traders raining and expectations for tighter fed policy. what i am looking at is euro after germany's governing parties fall of the lowest result in decades. delivering another blow to chancellor angela merkel. back to european stocks brushing of a mixed a session in asia. a slightly bigger picture. the stoxx 600 has risen for the second time in three days. joining us now is rupert harrison. as always, thank you so much. what a day to come and because we are also expecting the budget from the u.k. m

tom: good morning.n new francine and london. edmund shing and peter chatwell. you guys are market guys. you have to deal with international trade. whether it is the usmca or the new unilateral or bilateral discussions with china. you atlet me start with mizuho and the idea of markets telling the politicians what to do. ,s that what we are seeing now the markets are telling the politicians, these are the global dynamics, and this is where we are going to price things? peter: that is normally will how things work. -- that is normally how things work. we price things according to the economic outcomes we see as probable. i don't see any change if there is government intervention with policy. it is only really in the economies, the less open economies where you can expect to see some sort of government intervention. it's all of this pushed aside because we are in more of g voting rate regime -- floatin rate regime? it is. i am seeing a very productive environment and rates. there is a lot more chaos in the

tom: we will move on., have pulledomberg out of the initiative in saudi arabia. we have pulled out as media partners. i'm thunderstruck by the above of flat out republicans doing better. can that be the mother of all shocks looking at the eighth district of minnesota as one example? is that is what is coming down the pike in 19 days? i'm glad you highlighted the eighth district at of minnesota. this is an interesting race. you have the republican trending to flip the house. the democratic congressman, it has not gone republican in years. then you have the democrat who is really trailing. why? steel. theses a district where plants have been opening and the republicans were counting on it. major shock if republicans got control of the house of representatives. i was speaking with democratic staffers last night. they are still ambitious in terms of what they might be able to flip, but the jockeying of the landscape in the financial services world is very much underway at the house. tom: fascinating, 19 days a

>> tom: what is the definition of stovepiping?ike some of the questions you're asking. [ laughter ] >> josh: here's some themes, here's some ideas you might want to talk about tony. >> lydia: so, isn't this place dah-dah-dah-dah-dah? >> josh: you didn't get to do that with tony. >> jerry: hated it. hated, hated it. >> anthony: what are you stovepiping content now jerry? is that what's happening? >> jerry: no. >> anthony: is that what's happening here jerry? has it come to this? i can't even trust you? [ laughter ] >> helen: if he got the sense that you were trying to sway a conversation one way or the other, get him to say something, it was a wrap. i mean, it was like you get the dagger eyes. >> jared: or like the inevitable wides, which essentially meant that the scene's over. >> anthony: go wide. want to go wide? do you want to go wide? yeah, go wide. >> toby: he called it. tony just called it. ♪ >> tom: well, food was a brilliant device because interview can just feel awkward or formal. where as if you share a meal with somebod

tom: charles?y, companies chains.sting supply it, companies are adjusting supply chains. laxe is a logjam in the .orts and air freight companies are adjusting and thinking through sourcing goods from other places. we speak to many of them, indonesia, vietnam, south korea, because in their minds, they are trying to protect their margins and do not want to push higher prices on to the consumer. tom: we have an economist and a guy running real money itself. dow.is a chart of for the the idea is the malaise. is the malaise incorrectly associated with president carter appeared his a 1910, 1920 malaise. what is the outcome -- forget about the drama of up or down, how close are we to slipping into a stock market that shows a malaise of growth? they are coming off the back of a strong year. they are coming off the back of a strong year. this is likely to pose the strongest gdp. next year will be modestly slower we think, but nothing to worry about. what worries us is not malaise, but we are bit close that

tom: thank you so much. bonds, currencies, commodities. the lift on the screen right now. doubt futures up 69 points. a little curve steepening. on to the next screen with a churn in oil. the vix verily describes yesterday's tumult. yen, and renminbi out near 6.17. the aussie bid. we are seeing a response in certain parts of the market. higher.ear move we have gdp coming in a little softer than expected. btp yields are moving higher as well. that is not off the gdp data. the cable study. stillot a recession, but challenging. let's look at the bloomberg. we have a series of charts. the vix with a six-day moving average. tumult of laste february. it was out at 30. we are not anywhere near that, just under 25. we have moved up nicely here. we are not back to the february fear. that said, we keep looking at the reasons behind this most recent selloff. my chart is behind real rates. so many people have said look at what real rates are doing for the direction of what happens next. the cushion has been erased. the

tom: thank you.cations of high yields come in, the curve steepening, not much movement given the closure in the u.s. oil finally weaker off that move we saw in brent. equities up. 30 year bond, a big 3.40%. mortgage changing decisions of their. francine: if you look at european stocks, they are following as there are concerns about italy's defiance of e.u. officials, adding to a gloomy picture across equities. i am looking at chinese shares, they are leading declines lower. i am also looking at the euro and it is moving on the back of this italian movement. tom: before i get to willem buiter of citigroup and the idea of the nobel prize winners and before we get to a discussion of economics, we must look at the politics of the weekend in the united states. on saturday, with mr. cavanaugh becoming a supreme court judge. on cbs face the nation, here is mcconnell. everybody knows i energized the democratic side for a variety of reasons. our energy and enthusiasm was behind there's until this. gave us the

tom hartman. >> tom sent me that endorsement and i've done a lot of things with tom, including one saturday i was sitting at home and, if you don't know tom hartman, he has the number nine radio show, he's the top ranked liberal radio show. he's an amazing guy but he slightly left of bernie sanders. he is pretty far down the over on the left but he called me up on a saturday, he emailed me and said, i have an idea for next week's show. you want to switch sides? so we got on radio and we switch sides. we argued each other's points of view. so he showed the respect they are. when you read that it's actually it makes me happy because he says you need to read it if Ãbif you're on the

that is the sort of favor tom does often. they call it friends of tom at colony. gates left the campaign, he briefly worked as a consultant for colony. you see these constant touches with these guys who are now in a lot of legal trouble but there , are no implications this has reflected poorly on tom. absolute must read on one of the most influential people in global markets over the past 100 years paul volcker. , carol: and why companies cannot afford to fire workers, but instead are retraining. jason: this is "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek." i am jason kelly. carol: i am carol massar. you can also listen to us on the radio. a.m. 960 in the bay area and in london on dab digital, and on the bloomberg business app. carol: president trump blasts the central bank for the intention to keep raising rates. trump says "he may be regrets" regrets" appointing jay powell. jason: but he is hardly the first fed chair to feel the heat from the white house. paul volker's new memo opens a window into how past presidents try to impose

tom: the growth story.tent, it is not a mistake, it is a thing that is going to challenge geopolitics and it is disruptive markets. when you talk about emerging markets, i am not worried about argentina or turkey being contagious. i am worried at the chinese leadership decides the right way out of the growth trap right now might be to devalue the currency because that will immediately have a knock on effect. tom: would you suggest they reaffirmation of the communist -- thender president reaffirmation of the communist party under president xi? he needs that growth to provide domestic tranquility. sebastian: exactly. the trade war has hit him at a time when growth by -- tom: president trump hit him? you view it as credit, putting sanctions on china has had an effect. they were already growing at the low-end of what they regarded as acceptable. now they're going to have to choose between either re-leveraging which they don't want to do because they just spent a whole year or so trying to do the opposite, or de

>> tom and paul manafort are friends.ne of the first things he did for manafort was hire and associate of manafort to manage his appearance on television for the trump campaign. after gates left the campaign, he briefly worked as a consultant for colony. so you see these constant touches with these guys for now any lot of legal trouble. but there is no indication that legal trouble has reflected poorly on tom as of yet. jason: up next, paul volcker. carol: and why companies cannot afford to fire workers, but are we training instead. jason: "bloomberg businessweek." jason: welcome back to "bloomberg businessweek." arol: you can also listen to us on the radio. 91 f.m. in washington, d.c. jason: and in the bloomberg business app. carol: federal reserve independence has been a hot topic this month as president trump blasts the central bank for the intention to keep raising rates. he said he may be regrets appointing jay powell. jason: but he is hardly the first fed chair to feel the heat from the white house. there is a fasci

tom: very good.w chairman powell's speech the other day. many presidents of the fed across america. is of the most interesting when mr. evans speaks. our guy johnson with charles evans. >> thank you. yes, chicago fed president charles evans. good morning. desk, i checked where december is priced. 72% was the number. function. are you comfortable with 72%? submitted a summary of economic projections and the median dot was six rate hikes this year. i am quite comfortable with the expected half embedded. i think my own take on a neutral, longer funds rate is 2.75%, so policy at a slightly 3%, 3.25%e setting at would be consistent with the good economy and inflation. >> you like the idea of a december hike? >> i am quite comfortable, yes. we are not supposed identify which dot is ours. >> a slight softening of inflation data, does that concern you? >> i think the inflation data picked up in a nice fashion, 2%, under, but has improved quite significantly in the last couple of years. we needed to provide e

tom? >> erielle, thank you. >>> we turn to the other big story we're following tonight. a new tropical storm is heading into the gulf of mexico. michael, the 13th named storm of the season, formed just today, and could make landfall as a category ii hurricane. florida already in a state of emergency. once it makes landfall, there could be even more trouble because of another storm. rob marciano, how bad is this? >> the problem with this time of year, the storms develop quickly close to home. not a lot of time to prepare, and they develop quickly. it's already a 50-mile-an-hour storm. about 100 miles southeast of cozumel, mexico. expected to be a hurricane tomorrow night. and category ii by wednesday. key west, tampa, even charleston will feel the effects of this. it will be steered in part by the deep trough and storm that has been pestering the country's midsection all the week. flood watches from texas through des moines and minnesota. you see more rounds of severe weather through tuesda

vonnie: bloomberg's he tom keene has -- bloomberg's tom keene joins us. tom?e question is the impact. we have heard about the farmers and the midwest. you wonder what the impact of a trade war in gary, indiana. be president will not campaigning there. gary, indiana is a home of the nobel laureate of columbia who joins us. you folded right into a blistering this course on the elections. what is so important about your discourse is it is about trump and the republicans, but it is really about the democrat parties that you identify with. it is a breath of fresh air as we have not seen that. what is the democrat party getting right as they move through these elections? >> i think they are realizing that they have to have more than an anti-trump position, they have done a positive position to understand why the country has not been forming very well. why there is such any quality? it has part to do with monopoly power, and parlayed that we have not done enough to protect those who have been so badly effected by -- have donewhat others to us. it is not immigration,

♪ >>> tom cruise revved up for "top gun."e've got major scoop from the set. >> i've not told anyone in the world as much as i told you. >>> then john goodman's bad time. >> i just crashed for a couple weeks. >>> plus -- >> let me just paint a picture. >> don't let last night's kiss fool you. why there will never be a blake and adam truce. >>> then the women of "this is us" reveal the moments they were afraid to shoot. >> then the will ferrell interview full of laughs. >>> this is "entertainment tonight." ♪ >> tom cruise gets back on his bike for the "top gun" sequel. it's like we stepped into a time machine. tom hasn't changed. >> how is that actually possible? it has been 32 years since he raced down the tarmac. tom's still got it, the look and the need for speed. >> very fast jets. the motorcycle. i have not told anyone in the world as much as i just told you right now. >> it's one of the most closely guarded scripts in hollywood. now "e.t." can show you tom cruise in full maverick mode on set of the "top gun" sequel. >> i

live in pleasanton, tom jensen, nbc "today in the bay." >> thank you very much, tom.know you're working hard out there. >>> more than 1 million people are expected to gather in san francisco over the next three days for fleet week so expect a lot of traffic particularly if you're going to be trying to drive within the city. >> "today in the bay's" pete suratos joins us live from the transit center. the fremont street closure is a big reason folks really should try to utilize public transportation this weekend. >> reporter: yes, that's right. good morning to you, marcus and kris. it would not be a good idea to drive in to fleet week. sf mta is telling folks to use public transportation. fremont street is still closed as they do work on the sales force transit center, closed down after engineers found the two crack steel beams in the transit center. so the meantime the transit center is closed and folks will have to use the temporary bus terminal, they've been using that for the past week. of course this is only a few blocks away at main and howard street so that's why

so the first thing i -- you know, i just said, "where's tom?" i think i yelled, "tom." >> do you have any idea who or why somebody would do something like this? >> honestly, i've been just racking my brain. i mean, i -- we live a peaceful existence, uh, almost ridiculously simple. >> reporter: dr. william hunter, known as bill to friends and colleagues, ran the pathology residency program at nearby creighton university. his wife, claire, also a doctor at creighton, was in hawaii that day attending a conference. her husband had to break the awful news to her from the police station. >> how is your wife? crushed? is she going to be okay? >> she has a work mate that's with her. >> so she's not alone? >> no. >> that's -- that's -- that's good. >> reporter: the hunters had four boys, two grown, one in college and tom. jeff, a student at the university of nebraska in lincoln at the time lived closest. he says it was about 8:00 that night when he happened to check his phone. >> i had all these missed calls from friends, family. so obviously i knew some

tom? >> matt, thank you. >>> and president trump continues to hammer the issue of illegal immigration, doubling down on threats of military force, and turning it into his hallmark issue for the midterms. here's tara palmeri. >> reporter: president trump riling up his base on immigration, stumping out west for vulnerable midterm candidates. >> a democrat victory in november would be a bright, flashing invitation to every human trafficker, drug trafficker. >> reporter: the battle cry comes as thousands of central american migrants attempt to head north through mexico. officials there on alert. their response drawing praise from president trump. >> and i want to thank mexico. mexico has been so incredible. because now mexico respects the leadership of the united states. they haven't done this. >> reporter: the president blaming the democrats for causing the border crisis without any proof. >> it's openly inviting millions of illegal aliens to break our laws, violate our borders, and overwhelm

tom: right. fsdi doesn't cover it all because of certain restrictions , income limits and things like that. if you had medicare for all, of course, it would be covered. a lot of people, especially with intellectual disabilities, or people with mental health problems, don't seek adequate health care because it is expensive. it is not covered. they may not even have insurance but could cover that, so they get worse and worse and worse, and they wind up in emergency rooms. they wind up, sadly enough today, in institutions. what is a major institution today for holding the mentally ill? the jails. the jails have become our major institution in america for housing persons with mental health problems. really awful. but that is true. and because they don't get help, they don't have any medical help. >> that segues exactly to my concern, housing for people who have mental illness. there are no places in west virginia for people who are -- they are not violent, they just need to be in housing other than t

tom steyer as we reported.. the burlingame package was addressed to tom steyer..he is a well- known california democrat ... who has been a very active critic of president trump and republicans... he has held many fundraisers in the san francisco bay area, including at his home in pacific heights. tonight we are learning, steyer has released a video countering what he calls an attack on democracy in the nation... kron four's terisa estacio is in pacific heights for us tonight with more on this part of our coverage... (take terisa live) at this hour, we are hearing from tom steyer.. he spoke with our cnn affiliate... he is putting the blame on these suspicous packages squarely on teh shoulders of president trump. (take pkg) tom steyer, this is the probleme, he has created this environment, attacking the media, and attacking democrats, our democracy is under attack." kron four news obtained this advertisement released friday from steyer and his associates with need to impeach.com.... through a spokesperson steyer s

tom? >> rob, thank you. >>> next to the growing tensions over the disappearance of "washington post" columnist jamal khashoggi. he was last seen entering the saudi consulate in istanbul, turkey. he's believed to have been murdered, and president trump is vowing to punish saudi arabia if it's proved they're behind the alleged murder. and saudi arabia says they will retaliate that with force. ian pannell reports from istanbul. >> reporter: tonight, president trump threatening action if it's proved the saudi kingdom is involved in the disappearance of "washington post" reporter jamal khashoggi. telling "60 minutes" -- >> there's something really terrible and disgusting about that, if that were the case. so, we're gonna have to see. we're going to get to the bottom of it, and there will be severe punishment. >> reporter: the saudi government repeatedly denying any involvement, but now escalating the war of words in a statement, saying, "if it receives any action, it will respond with greater a

tom? >> kyra, thank you. >>> and as brett kavanaugh denies the allegations, which he called politically motivated, president trump delivered the same message in west virginia last night. here's tara palmeri.>> reporter president trump slamming democrats, taking his defense of judge kavanaugh on the road to a rally in west virginia. >> the entire nation has witnessed the shameless conduct of the democrat party. they've been on a mission to resist and obstruct and destroy, and you see that over the last four days. >> reporter: democrats on the attack as well, now questioning judge kavanaugh's temperament after thursday's testimony where he showed flashes of anger. >> this confirmation process has become a national disgrace. you have replaced advice and consent with search and destroy. >> reporter: democrat senator chris coons telling "60 minutes" -- >> it made me wonder about his suitability to serve on the bench. >> reporter: kavanaugh's opening statement blaming his political enemies drawi

tom kise a comedy want to begin? guest: first of all, andrew, congratulations to your continued efforts on staying sober and best of wishes to you. right now, what we are saying specifically run opioids is a ship --t of bipartisan bipartisanship nbc -- bipartisanship in d.c. has beenr partners extremely active in the space, solutionsly to find for opioid addiction and suicide, but to find solutions here in congress and around the states. we continue to look for these things. i would say that it is one of those things that we continue to strive for in making progress, but it will not happen overnight. host: emily barson, we continue to hear dire situations from the states. where are the bright spots around the country in terms what states are doing on the opioid issue? guest: sure. as tom said, this is definitely an area that is been a bipartisan interest. by interest, it is because it is reaching crisis proportions in so many states. you will hear people but republican governor kasich from ohio talk about the state o

tom: good morning. noted essay in foreign affairs magazine that said the west in particular the united states overreached in nato expansion. i know you disagree with that thesis. why should georgia be in nato? me who, it is not only disagrees. all the members of nato. , we feelof months ago that georgia will become a member of nato. of course, our top priority is to become a full-fledged member of the european union and nato. we have very concrete reasons for this. natorship of georgia and will make our region more sustainable and prosperous. influence --e best best interest for russia as well. tom: and why is that? please explain why mr. pugin would be advantaged -- why mr. putin would be advantaged? >> let me give you a good example. norway for example. nato,orway was joining there were some question marks. the scandinavian region is the most developed region in the world i would say. and brings stability prosperity. georgia and the wider region needs that. let me state an example -- an important geog