new york times columnist tom friedman we'll be right back after a quick break. download the app and feel what it's like to get your money right. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones this is hannah, she's a posh virtual receptionist let's at the ready 24-7f it. to answer your calls and assist your clients. you can't be in two places at once. let posh answer. posh virtual receptionists. >>> world leaders descending upon glasko for a climate summit >>> breaking news, the head of barclays bank has stepped down over ties with jeffery epstein >> we'll tell you what you can expect with the supply chain pinch heading into the holiday season the second hour of "squawk box" begins right now >>> good morning welcome back to "squawk box. joe is off today let's show u.s. equity futures at this hour green arrows across the board. 177 points higher on the dow s&p 500 up 21 and nasdaq up 68 points moderna saying the fda has delayed the decis

. >>> joining us now, "new york times" foreign affairs columnist, tom friedman. is the author of among many other best sellers, why we need a green revolution and how it can renew america. so, tom, i don't even know where to begin really. but, you know, is there no depth too low for -- i mean, first of all, paul -- you know, congressman gosar is certainly in the pantheon of sort of pathetic figures who have served in -- in congress. um, but is there no depth too low? >> well, you know, i think depth is a good word, anderson, because i think we're standing, as a country and as a people, on a false bottom. what -- what -- what these incidents and the lack of response to them by the republican leadership tell us is something -- it's -- it's very worrying. we -- we're living in a fool's paradise right now. if this party is able to retake the house, the senate, and national power, we are in a very, very dangerous situation. it could be the end of our ability to legitimately transfer power, which is really the crown jewel of this country. we're -- we're standing on a f

. >> how did tom friedman put it -- you have to keep your belt on before of the suspenders?germany has a lot of coal we're the only ones shutting down coal. norfolk -- no one was ready for what's been happening. i was going to wear a suit for hall halloween, but decided it was not that special. >> some kids dressed up as you wearing suits, i think >> i'd like to see kids go as cramer. >> there was a woman once who went as cramer. >> really? >> yeah. yeah >> we'll get the real cramer and the real mav dash in a moment. back in a moment this is the new world of work. each day looks different than the last. but whatever work becomes... the servicenow platform will make it just, flow. whether it's finding ways to help you serve your customers, orchestrating a safe return to the office... wait. an office? what's an office? or solving a workplace challenge that's yet to come. whatever the new world of work takes your business, the world works with servicenow. esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outpe

tom: joining us now, eric friedman joins us, always some wisdom in his research.glass half-full and then you have a tendency in your modeling to say up and higher where you raise your estimates out a year, or even have three years? >> tom, good morning. we do think the glass is half-full and we are very optimistic. we are going to be predominantly based on earnings. that sends a story i know you have covered so well as a team. we started the year at $160. now we are north of $200. we actually think we will get even $230 next year. our viewpoint is that it is a glass half-full environment. the first quarter of next year, everyone knows there is a big basis. the question for us is whether the market will actually sell up starting in march, april of next year. tom: intermediate microeconomics course where everybody including me goes down in flames. it is about the word ambiguity. when the rate rises off of inflation flipped the equity discussion from optimism and resiliency over to a challenge. >> that was a tough class for me too, tom. if you look at the rate we are

tom: ben bernanke would say, as would milton friedman and anna schwartz, it is always, and every caseout the banking and financial system which is under stress. that is a good introduction to anastasia amoroso, for years covering eastern europe, and now with i capital network -- with icapital network with a much broader remit. link in a higher oil price, real inflation worries that mr. erdogan has, some would say self-inflicted, and the destabilization of turkey. how idiosyncratic is it, or can it be a contagion? anastasia: i do think at this moment, it is idiosyncratic to turkey. there's just too many issues that have been building up for too long. the current account deficit issues, the rundown of the reserves. when inflation is running at 20%, the last thing you do is cut interest rates. so this is a bit of a self-inflicted damage, and i don't think it is representative of the things happening in emerging markets, but perhaps identifying pockets of vulnerability is once again something we need to do. who has the twin deficits, who has low reserves, and who may not be able to withst