we are live in tokyo with warren buffett. as you know, warren buffett has preferred omaha over the financial centers of the world he does visit from time to time. that is what he is doing this week he is in tokyo this week first time he has been here in 12 years he has come because he wanted to check in on the five trading houses that berkshire bought a position in back in august of 2020 august 30th, 2020, he announced he accumulated a 5% stake in the five trading houses in japan that is big news, especially in japan, but around the world. the companies on the screen here those are the five major trading houses responsible for so much of the japanese economy. they do everything from importing energy and materials and textiles everything the nation needs for financing for everything beyond that in all places in the economy and including in manufacturing and beyond the five trading houses are known as the sosugosha we knew he bought 5% back in 2020 in november, we found out he bought an additional stake in each company bringing

again, we are with warren buffett in tokyo, japan right now. n talk about inflation and what's coming and what's going, but we've got the cpi number coming up i think you probably have better information than janet yellen or jay powell just in terms of what's happening on a day-by-day basis. you have so many big businesses that berkshire owns outright have we seen the worst of inflation? is it rolling over, coming down steadily >> inflation is always a possibility. and i mean extreme inflation it's a possibility i mean, just look at the countries and what they've done. i don't know how many times. and they can lead to terrible things, led to terrible things in germany and you want people to trust their money. i mean, if they really have a flight for money, the economy doesn't work but in 1942 when i bought my first stock, i mean, we were going to pour money into people's pockets and they couldn't buy anything. they couldn't buy cars, they couldn't buy -- i mean, they couldn't buy washing machines or anything else but they had money flowing in to

andrew, thank you for joining us >>> warren buffett just sold taiwan semi, one of the best companies.move >> i think taiwan semi conductor is one of the best -- well, it's the best in that field and one of the best companies in the world. it's a fabulous enterprise but i do think that there is a danger there to some there's actually a danger of seismic action with where they are located, but that's a low probability. >> shares are lower today. on a new report questioning domestic expansion so much news >> i'm going to try to get there it in 60 seconds the new report says that tmc, the largest contractor in the world, is considering slowing capacity in taiwan that news is causing the stock to drop slightly but a taiwanese economy minister has come out today denying that story, saying plans have not changed. given the chips company's recent march revenues, which fell 15% year of year, one analyst says any slowdown in cap x shouldn't come as any surprise research says worldwide shipment of computers dropped so recent sales figures shows that it's not immune to what is going on in the eco

. >>> plus, warren buffett looking to japan for opportunity looking to take bigger stakes in trading houses there. >>> and alibaba pulling back the curtain on the a.i. ambition looking to take on chatgpt we are live in china for a look at that tech. >>> it is tuesday, april 11th, 2023 you are watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange." i'm frank holland. a kickoff of the hour with the muted start in the united states green across the board up slightly for each indices this after the last start to the trading week the dow and s&p with marginal gains and nasdaq ticked lower. >>> we begin with the benchmark 10-year treasury yield at 3.39 down 50 basis points from where we were on march 10th. the collapse of svb. we are still seeing that inverted yield curve that spread has narrowed just a bit in the month of april. we are watching the energy complex. always looking to oil. wti is $80 a barrel. up pounds 50%. brent crude at $84.50. up .50%. >>> in crypto, bitcoin crossing back above $30,000 right now, we are seeing bitcoin at $30,100 ether

warren buffett says he is considering more investments there.otes to keep rates unchanged and pushes back on that rate cut expectations. alibaba enters the fray with a new ai model on the heels of similar debuts from others. it is risk on. in asia investors are shrugging off expectations of a rate hike by the fed in may. we had the bok standing pat for a second time in a row. in terms of benchmarks in asia, australia up 1.3%. minors are tracking higher on the back of newmont getting a bid from new crest. the governor says no change as of now and getting a boost from warren buffett, saying he might increase investments in japan according to the nikkei 225 in korea standing pat. kospi up 1.5%. the weaker dollar lifting asian currency. the japan nikkei -- the japan yen in higher territory with a dovish boj it's about the yen. for more let's go to mark cranfield. and a rate strategist at bloomberg intelligence. mark, what has changed? >> some investors would like to think the hard work has been done and some asian central banks were early in the rat

early insight on what to expect from warren buffett, berkshire hathaway's coming needing. r barron buffett expert will tell us what he's seeing next. - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org. ♪ ♪ do the work, before the work. bodyarmor lyte. more than a sports drink. for back pain, i've always been a take two and call in the morning guy. but my new doctor recommended salonpas. without another pill upsetting my stomach, i get powerful, effective and safe relief. salonpas. it's good medicine. as a business owne

what is on the mind of warren buffett? bircher's annual meeting only a few days away.ven though inflation isn't beaten yet the yield on our bonds is get a big hut. where do you find the best return for your cash? we begin with three things investors ought to be thinking about right now. big tech stocks led the week's market rally. now investors are turning their focus to the wednesday rate hike decision. the bank turmoil isn't over. depositors yank their cash out of first republic. is the contagion contained? introducing can view. what to expect from the biggest ipo of the year as johnson & johnson spins off its health business. ben levisohn, carleton english and andrew bary. the s&p continues to inch higher on the surface, not much is happening. kind of boring. ben: the stock market had a microsoft landing, pardon the pun. microsoft had great earnings, alpha that went up 1.7% after it earnings, meta jumped 13% and these big stocks are doing the heavy lifting for the stock market. that is why all three major indices, the s&p, the dow and the nasdaq finish tire. jack ot

they heard warren buffett talk about it today his companies except for insurance are weakening, that the economy is coming off, which means that i don't think you want to put new money into the market >> our headliner today, the wharton professor, jeremy siegel, who is back with us. we're so glad to have you, professor, on this day you said a couple weeks ago, quote, i can't be optimistic until the fed gets it and there's no sign they do yet. how do you feel hearing these comments we've gotten today and what you might here in the days ahead? >> yeah. i mean, i believe the fed has already done too much. i've voiced that for the last six months the trajectory was way too high by the way, speaking about the core, if you actually put real shelter prices in -- i mean, from apartment lists, zillow or the case-shiller number, core has been zero inflation for the last four to five months so it really wipes out the core if you use real shelter prices instead of the, as we know, dramatically lag prices that the fed is using so really core is not a problem. they shouldn't have raised last time

i wanted to ask warren buffett that one that would have been a good one. airline fares, absolutely.ousehold furnishings. we see the pressure in the -- you don't want to own a single stock in the household furnishing industry because the pressure is so phenomenal against them, and that comes out to be a problem. so, i look at this, and i say, you know what? other than shelter, which is still definitely an issue, david, if you're going to raise rates because of this, you don't care about this. you're raising them because of something that you see that we don't. >> and what would that be? >> well, i mean, maybe the possibility that we have really gotten over the banking crisis and people don't want to say, hey, it's over, but you're willing to make bets that people aren't going to lose their deposits you feel a little too confident. there's new confidence post-what happened >> so, based on this cpi number, which essentially was in line in terms of year over year and the estimates, you think the fed's done >> no, i think austan goolsbee was very rational in saying, this is a wait number

people are using it to plan vacations. >> warren buffett or jimmy buffett? ipt said warren! i asked chat gpt to write a poem for you guys about paul the weatherman. it gave us all the weatherman with charm and grace brings sunshine to every face. rain or shine he forecasts it all, his forecasts and predictions we heed and call. vern the sports anchor with energy in my brings the game to live every night with play-by-play and expert analysis, he leaves us in all and complete bl >> the effusive, truly effusive praise for authoritarian leaders from former president donald trump during an interview last night on fox news. here's what he said. >> president xi is a brilliant man. if you went all over hollywood to look for somebody to play the role of president xi, you, couldn't find -- there's nobody like that. the look, the brain, the whole thing. we had a great relationship. ♪ ♪ ♪ muscles on that man ♪ ♪ like a major leaguer ♪ ♪ guess i'll look the other way ♪ ♪ on how he's treating uyghurs ♪ ♪ thirsty for some jinping ♪ ♪ xi's got the look ♪ >> the look, the bra

becky is live in tokyo with warren that would be becky quick and warren buffett, and we're going to beis, to the oracle of omaha ending in the first hour we'll be joined by buffett's heir apparent it's wednesday, april 12th, 2023, and "squawk box" begins right now. ♪ >>> good morning and welcome to "squawk box" right here on cnbc. a very special edition of "squawk box" this morning. i'm andrew ross sorkin along with joe kernen. joe is in times square at the nasdaq becky is in toky

apparently warren buffett used it to write a song for him in spanish.ns. >> warren buffett or jimmy d ch for you guys about paul the weatherman. it gave us all the weatherman with charm and grace brings sunshine to every face. rain or shine he forecasts it all, his forecasts and predictions we heed and call. vern the sports anchor with energy in my brings the game to live every night with play-by- (upbeat music) - hi everyone, and welcome to legal help center. this is where we have professionals standing by to answer your questions regarding personal injury. so if you've been injured in an accident that was not your fault, like a car accident or a slip and fall, we can help.

warren buffett will join live from japan starting at 6:00 a.m. eastern.look forward to seeing that here on cnbc >>> still ahead here, 2023 could be all about rezoglobalization. one strategist says the supply chain will be a boom for some foreign economies. >>> at home, small business optimism is sitting at recession levels and here is the dow map. 30 names there with microsoft lagging and caterpillar leading the way today. "the exchange" is back after this ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org. there are some things that go better... together. like your workplace benefits... and retirement savings

letter is warren buffett's income in 2010 was something like if you were an economist $12 billion and he paid a total of $7 billion in income taxes all perfectly legally, etc., that was 6/100 of 1% of his income he paid in taxes because of being able to shelter all legally. trump's tax returns which were released all i've never heard anyone they were illegally done or anything. all these once released that's just what the now if you had a low rate let's say a flat tax like did with jerry brown for 13% across the board with, no deductions, exemptions, exclusions you would have you would have buffett in 2010 paying about 1.6 1.7 billion and he'd be better off. everyone else would be better off and there'd be no warfare. everyone knows, you've got to pay your fair share. everyone. but when you start trying to steal from a group, they respond by trying to get around you and the rich have more money. they can hire more lawyers. accountants deferred, income specialists, favor grabbers, lobbyists, etc. and you don't have a chance. low rate. broad based flat tax is the way to go that's the no

. >>> but first a couple of legendary investors speaking out on the fed earlier here's what warren buffett had to say earlier today on "squawk box." >> i don't know what they should precisely do, nobody does. they follow conventional wisdom and all that, sometimes it works out, sometimes it doesn't. but since 1942 we made all kinds of mistakes in this country. we'll continue to make them but somehow the system works pretty damn well i'd rather own stocks than bonds over many years. >> chairman ed heiman expressed some caution this morning on the economy. >> in the recession camp you have the rates, inverted yield curve and money supply contracting. you need to take a step at a time and i feel confident the fed should pause and see what happens. >> let's bring in diane swank now. good to have you with us where are you on whether there will be a recession or not are you with ed hyman or not >> i am, actually. and i think, you know, the stresses that we've already seen are additional tightening in the pipeline and there are unknowns out there of how much tightening it will be and i actually w

, a new warren buffett, any warren buffett. i couldn't figure out if it was hubris or stupidity or maybe both in the end didn't matter, though everyone thought the march banking crisis was over, so there's no way the bank could handle the implications of first republic's likely collapse it was an amazing session because a vast majority of companies that reported put up really good numbers, and if not for first republic their stocks would have been worrying this was the impact of a quarter derailed because of first republic i think it's important to look -- let's put it into context. if you go back to the original crisis where silicon valley bank, everyone assumed they would be the next to go under, but these guys got the lifeline, from a posse of major banks. they didn't want anymore bank failures oats just too brutal for the bank industry. there was no reason to stay as a customer of first republic if you didn't want to they couldn't lock those people up and they were the ones that mattered that didn't keep the depositors from

i don't know banking turmoil contained -- >> i don't -- >> warren buffett, you watched the interview this morning he thinks there's another shoe to drop. karen's been saying it for awhile >> those stocks don't trade that way for not a reason we got a market flash we have to go to. steve? >> yeah, melissa, the financial times is reporting that soft bank is making moves now to sell most of its shares in ali baba that's sending shares down about 4% right now they look tesed at some filings soft bank has sold 7 billion so far this year of their stake and the goal is to get down to just about a 3.8% stake in the entire company. we've reached out to both companies for comment and i'll be back if we get more >> all right, steve, thank you steve kovach what do we make of this news karen? >> i don't know what to make of it i've been so afraid of ali baba since i owned it and sold it down a lot i don't know, i feel like -- day-to-day, you just don't know what the environment is going to be this is obviously a different thing, soft bank than the government, but i'm not there. >> i mean, they've

pays a higher tax than warren buffett higher tax rate than warren buffett. that's the america we live in. the majority of americans cannot adequately respond to a $400 emergency. i don't know what kind of district brother briar in represents. but i represent people who live in the projects. people who live in public housing, where we haven't invested a dime in public housing and over 10 years, so this extraordinary economy that the brothers talking about doesn't trickle down to my constituents who live in eden wall projects doesn't trickle down to my constituents who live in the poor areas of mount vernon, yonkers, new rochelle, worchester and greenberg. so this glorious economy where the wealthy continue to hide trillions overseas and use the money for stock buybacks instead of creating new jobs. that's the economy that people are living with dealing with every day and then when we talk about inflation, these companies are price gouging, making record profits during the pandemic and post back them because they're raising prices even after we dealt with the

but warren buffett's also 92.ople are still very keenly listening to what he says and following his lead, so 90 davis is still very even more than agents so fascinating that warrant warren buffett is often you know he's out giving interviews. you know, we really don't see rupert murdoch in public. except will you know, perhaps at this dominion trial? can we talk a little bit more about the dominion trial because you address these revelations from the court filings that the damage is done, and you're right . in their own words fox hosts have been exposed as propaganda . if we lose this suit, it's effing bad, a senior fox staffer told me and you wrote the book on fox's in 2014 the loudest voice in the room that that you wrote, what else are you hearing from? inside insiders there? sure. yeah. no, i think this is really an existential crisis for the network regardless of the financial impact. um you know, reputational e. they've been exposed the emails that dominion has, um obtained in their discovery process. you kn

. >> that was the oracle of omaha warren buffett speaking to becky quick.buffett you see talking to becky quick over the situation and telling people to calm down with the banking situation. however, the fed has a different perspective. the banking crisis will send the economy into recession later this year. according to the minutes of the march policy meeting several fed heads weighed policy increases because of the turmoil. they decided reducing high inflation is important and p pushed ahead with the 25 point hike we have nick timiraos here with more >> thank you >> the fed has a bit of a different take i want to ask a lot of people believe we are heading toward recession and a lot of people believe we will get a quarter point rate hike in the next meeting. how does this compare to 2007 and 2008 was there a rate hike back then as well? >> no, this is unusual for the fed staff to present to the fmoc saying we are putting recession in the forecast. the base case is a mild recession. you did not see that before the recession of 2007 to 2009. through the summ

japanese stocks getting a boost from warren buffett in an interview saying he's looking at investing more in the country. manus: i think that will depend more on where monetary policy goes. bitcoin is above $30,000. apple did a little to unseat the tech trade yesterday. bitcoin still above $30,000. dollar-yen, the big move yesterday on the continued dovish and -- dovish and is. oil has stabilized, dropped over 1% yesterday, the imf morning on the weakest growth since 1990. ed morse says the market has moved from massive oversupply to tightness. we will not have a crash but a drop in prices. we know there was hysteria at the short end of the curve, the ide, the most since 1982. hedges shifting to a big bearish position and goldman said yields could trade higher. dani: the short treasury positioning happening just in time for friday's jobs report. we have a lot to catch up on. we have reporters from around the world standing by. the latest inflation print from china, the new boj chief comments, and the bank crisis. and of course text continued troubles. manus: let's deal with consumer

warren buffett wants to be big in japan. goodbye twitter and hello something called ask.ing app. >> used cars are at a battle for inflatta

this is why warren buffett is in japan. japanese companies are making profits that would make any american ceo gosch and i think that's underestimated by market conditions. dani: i was just pulling up a text you sent of this morning saying japan in 2020 is a stock trade in not currency trade. you expect stocks to double. is that going to be an outperformance of the rest of the world? martin: this is japan moving from a 00 world into a two to world. 00 is zero inflation for the last 20 years. and we are moving to 2% interest rate and interest rates, nominal gdp point of view, corporate profit point of view. the dynamics to taipan -- that japan are throwing at this are bullish factors of the inbound tourism that has gone down 1% of gdp and increase defense spending can add .5% of gdp. the potential is less than .5 and the boj forecast is for the growth level to be over 1% for the next three years. it is extreme the bullish and japan is only 5% of the world stockmarket. the u.s. is 45%. japan is the only country of any signifi

japan's nikkei was the biggest move never asia in the overnight trade, boosted by comments from warren buffetthe billionaire told the nikkei newspaper he's proud of his investments, and they have increased their stakes to 7.4% and he's considering adding to his portfolio in the country on a programming note, they'll be joining our colleagues in a few hours live from japan for a special "squawk box" event. >>> softbank's ceo is set to sign a formal i a agreement with nasdaq to list chip designer arm which says a tent active deal was on monday. they reeled out an initial agreement. london is now tied with new york as the world's leading financial center, according to a new report from the city of london nicholas lions, lord mayor of london, told cnbc he has a plan to attract more investment in the environmental. >> we want to make sure we reverse this market which has undermined the success of the uk stockmarket for the last 15 years. so creating a big growth forngsd a $50 billi ion pound growth fu to put private equity into these countries can make a strong statement about our uk intent to keep

gill gates and warren buffett rounded out the top five. >>> the deadline to file federal and state taxes has been extended for most californias to nine bay area co than the pandemic years. >> a lot of things like the stimulus payments, advanced child credits, we don't have those this year. 2022 looks a lot more like 2019. >> the most common errors are missing or inaccurate social security numbers and misspelled names. it can be avoided by using tax prep software. >>> big cities across the stay are state are failing. san jose saw 68% of the people returning to its downtown area. that is good. san francisco the worst with 31%. you can see ityo aempt boosting the numbers. she hosted a block party yesterday with dancers, food trucks meant to celebrate the reopening of city hall and luring crowds back to the heart of the city. >> it's been a challenging couple of years. she owned a mexican deli in the heart of downtown oakland. >> waiting for everything to get to normal. >> reporter: her restaurant has been a fixture of the downtown area scene for the past 15 years. but like many other busine

. >> bill: warren buffett said bank issues are not over. no reason to panic.predicts no depositors will lose money. quite a statement right now. so there is no -- you get into this question of a moral hazard coming off silicon valley bank, right? they said we'll save the day. they did it 14 years ago and it looks like if buffet is right they'll do it again. >> everything comes out in the wash, bill. what i mean by that is yeah, sure, the fees that the banks are going to see go higher from the fdic will be on the banks. but what do the banks do? they will raise their fees so they can afford to pay higher fees. warren buffett was saying is that the increase in costs will fall on the banks because the banks pay into a fund for the fdic and that's what they are using to have the solution for silicon valley bank and signature bank. having said that banks don't just swallow expenses, they pass the expenses off. the end of the day i depositor did get affected because they raised prices because their prices are going higher. it is not a direct taxpayer cost, but it is

wall street also buzzing about warren buffett and some new investments in japan we'll have more aheadw's appearance by mr. buffett on "squawk box" 6:00 a.m. to 9:00 a.m. eastern time stayitus wh - psst! susan! with paycom, employees do their own payroll. - what's paycom? a magic payroll genie? - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly. i like getting paid correctly. >>> here's what's making a buzz today. warren buffett's berkshire hathaway upping its stakes in trading houses and the legendary investor said he might raise them further he told the publication he's planning to meet with the companies later in the week to, quote, really just have a discussion around their businesses and emphasize our support. our own becky quick will be live from japan tomorrow morning with buffett. we'll talk to him about stocks, economies, c

is paramount interesting in an m&a framework or not >> well, look, warren buffett has a big stake in't think he's in it because he thinks they're going to be a stand-alone company forever. i think that's a deal play who am i to say warren buffett is wrong it seems to me that the pure stock prices of some of these companies are very low i mean, warner bros. discovery got down to $10 at one point i was jokingly saying, maybe i should buy that. i think i could raise the money. paramount, it's around, what, $14 or $15 that's way down. these companies are at a huge discount to where they were. and as potential merger partners, they're very enticing. on the other hand, we've got a regulatory environment now where, is the justice department going to stand there and let any of these legacy, big media companies -- like could netflix buy paramount? in some ways it makes a lot of sense, but are they going to stand by and let that happen these are very visible companies in a very politically-fraught environment right now. >> it's good to see you. again, congratulations on the book you've got to

. >> this has been the mplace to be just yesterday warren buffett was saying at least insurance is goinghave a good year. >> il still has had a good year. if you look at the results more closely, the top line growth was there. the underwriting was there they got people to ensure stuff more they just took bigger losses given the events we have seen. so progressive, yes, it's steadily to the upside >> dom, thank you. >>> let's call it two points for those expecting a recession here in the u.s inflation showing further signs of cooling in today's numbers on the heels of yesterday's consumer read. and jobless claims hit their highest level in more than a year my next guest says the fed's hiking cycle is over let's bring in michelle garrard and c nbc's steve liesman. >> i think that's right. i don't know if it's two points for the recession camp, certainly for those of us who think the fed's heightening cycle is over. are we dug in that the fed couldn't go again in may you know, the bottom line is, it's like we felt last month you're really essentially at the peak, we talked about the numbers

wonder what warren buffett nose.uart: look at the percentage gains. exxon -- >> biggest jump in oil prices. go back to last april. stuart: bed, bath and beyond they tried to raise money to keep out of bankruptcy. did they get the money they need >> there was concern over especially into the weekend since they hadn't closed that capital raise of $380 million. in fact this stock has been all over the place in the pre-market today was up 18% at its peak, because they finally did close on that cash, but business going forward i think there's some concerns. stuart: got it, bed, bath and beyond is 41 cents, thank you, susan. coming up jpmorgan had advice for democrats about trump's indictment. roll tape. >> now is also not the time for democratic candidates to celebrate, to brag, to predict the outcome of the legal cases. if you can, i'd actually just put your head down and stay out of it for now. stuart: okay, maybe that's good advice but there's a lot of people in the media who are not keeping quiet, not keeping their he

it will be now, warren buffett said. when the tide goes out, you mentioned something else. rising rates. is that todd going out? and if that tide goes out a lot, so i would help you'll be prepared for higher rates. i don't know that's going to happen, but be prepared. you're not in that tide. you think the fed raises again in may two rates one of the short rate, i do not know what they're going to do, and obviously they may not because financial conditions, but they're also longer rates and that has a different effect and that the fed does not control directly that's controlled by global investors, sentiment, supply and demand and that's gotten bad for sovereign debt. okay so you know to me? yes you have a chance at long rates will be going up and people might get used to hire for longer higher for longer. get ready for that. i believe that is a i think it has a higher outcome of other people. i'm not predicting it right? is the american banking system truly safe and secure? yes. i mean, the banks have extraordinary liquidity extraordinary capital when they reported earning

i mean, warren buffett was obviously not on there saying, i think you ought to do this and do that.were a rogue bank they were a rogue bank, one of the largest banks in the country. they were rogue. >> right we should point out, net interest income for many of these banks was higher than expected certainly helping jpmorgan >> i'm glad you poipnted that out. >> breath better growth in revenue expenses >> you're very right >> net interest income came in stronger >> look, i'm looking at net interest income for jpmorgan, $20 billion. net interest income from wells, you got 13.3 i was looking for 12.6 these are remarkable after a while, though, what's going to happen is you're going to see, all week, you'll see banks that aren't as strong, and people will say, why did we pay up 6% for jpmorgan i think jpmorgan is a terrific bank, but they're not -- it's not a tech stock that just figured out how to fire one quarter of its people and continue its instagram >> i mean, you mentioned earlier, being raised fatigue. we got 20 names so far this season, 19 have beat, and that explains why we've

do you think warren buffett needs social security? i think -- let's start the highest level, i think warren buffett, bill gates, mark zuckerberg, i think all those guys could probably do without the monthly social security check because you said it in your question. it provides you with a measure of financial security. if you already have that financial security, is that something those folks should be willing to sacrifice to help those who need it? i think that something we should consider and we will have to debate with that level is and how you get there and that's with the political process should be about but to say we won't consider it, tell me what you will do. are you going to raise taxes? if we do raise taxes and spanned the amount of income covered by the social security tax in the medicare tax and all these things that apply to medicare, if we don't consider these things, the amount of taxes we would need to raise are astronomical. what do you do then and we have a declining number of people who are working. the number of p

maybe we don't make sure you join us tomorrow so you'll have time for warren buffe buffettment. "squawk on the street" is now. >>> good tuesday morning i'm carl quintanilla with jim cramer david faber is back. stocks biding their time ahead of cpi tomorrow. bond yields continue to rtal around in a range, 10.34 bitcoin back above 30k, a ten-month high roadmap begins with stocks treading water investors awaiting key reads on the economy. new york fed president williams says he sees no signs yet of credit tightening. >> warren buffett says he may buy more alibaba is getting into the ai arms race. perhaps no surprise there. china also slapping security reviews on ai products. >> let's begin with the markets ahead of tomorrow's cpi data everybody is taking a crack at it jpmorgan sees core up .5 >> we don't want that. it would just make it so he has to raise again what numbers is williams looking at we got numbers in the last two weeks which says a pull-up that's rather dramatic i think every bank is worried about it the big bank examiners are worried about their own jobs what a bad j