west texas crude right now at 29.34.on par now with brent crude, perhaps the best indicator of the lack of demand around the world, it's more widely used when you have those two forms of oil. why they're the same price, there's something amiss in the oil market. and let's bring in jo ling kent, adam shapiro, mike murphy, and mike, it looks like bad news is good news with this china thing. 6.9% growth last year? i don't believe it. probably closer to 4. who knows? you always call china is ponzi scheme, right? >> i call them a ponzi scheme. ashley: yeah, go ahead. >> i call them a ponzi scheme because that's what they are. you don't get accurate numbers. they said this morning, we needed money to pay some old debt so they're printing money to pay old debt. look it up in the dictionary. that's a ponzi scheme and that's what they're running and they continue to run so the government owns 52% of their stock market. they allow it to try harder, and the circuit breaker, whatever it takes, that's not the recipe for success, that

barrel oil, this is what a few hundred million dollars worth of idle drilling rigs look like in west texas. >> ahead on sunday morning, the flip side of low oil prices. >> the busy bee we are watching this morning is samantha bee, she is preparing for her debut as a late night tv host. yet still found found time to speak with us. >> former daily show regular go. finally a woman in the boy's club of late night television. looks like she knows just what it takes to make it. >> the hair is kind of my look. >> but i just got all my haircut off. >> trust me, it is very attractive. >> samantha bee's "full frontal" approach to comedy. after we finish our tea, merlot. >> the rock group coldplay is warming up for a very high profile performance next sunday night. and they are leaving nothing to chance as anthony mason will show us. >> on an la soundstage, coldplay has been rehearsing for next sunday's super bowl halftime show. >> you basically create the stage the same size it is a super bowl stage? >> yes, hopefully. >> the audience, a ga million son three. >> i think three gazillion actually. >>

a little bit of snow in west texas one to three inches expected there and throughout the deep south thunderstorms not severe but? strong. today with 60s even 70s south towards georgia and northern florida. behind the front it's a different air mass cooler and less humid and set to return during the day tomorrow lasting for really two to three days and warming weather coming into the weekend. but you see really where the chill is. 28 chicago, 28 in south dakota. cool air for wichita and dallas in the 40s. 49 little rock and 53 atlanta, here's 52 here in the triangle at the airport. let's take a look at the upper level winds a trough of low tomorrow. also small chances for rain mr. the morning during the afternoon commute it will be dry. this trough delivering colder air on thursday but it's short lived and friday we begin to the 60s. cooling off a south west loft for sunday, monday, tuesday into wednesday next week but here comes another trough off to the west on wednesday. the area bringing the next front with a chance for rain and friday next week the chill returns talking about sunday, monday,

i asked folks in west texas was the difference between regulators and locusts. the thing is he can't use pesticide on the regulators. this old west texas farmer said wanna bet? we will pass the fundamental tax reform. a simple flat tax. [applause] every american can fill out their taxes on a postcard. when we do that we should abolish the irs. some of you might be thinking all this makes sense. those words, bernie and common sense, it is like a matter and antimatter universe will cease to exist. i can't say that the you can [laughter] . simple principles live within your means. follow the constitution. can we do it? scripture tells us there is nothing new under the sun. it is very much like in the late 1970's, the jimmy carter administration. the same failed economic policies the same naive foreign policies. the very same countries, russia and iran, openly laughing at and mocking the president of the united states. what is that analogy give me so much hope and optimism? we know how the story ends. millions of men and women rose up and became the reagan revolutio

oil dropped less than $30 for west texas, 29.70. gold up $9 and 20 cents. >> lauren: this is how the dollar is trading against some key currencies around the world. you see strength in euro and yen. >> nicole: right now 2.05% as now everybody forecasting maybe just one rate hike for the year 2016. >> lauren: intel is a stock to watch today. intel made progress in the fourth quarter but not enough to satisfy investors. the company should more chips in the quarter but there are worries about gross margins offsetting demands. they are nearly 5% late yesterday. down 6% right now in the premarket. intel shares down almost 11% in the last year. >> nicole: let's take a look at the headlines of today's edition of the wall street journal. china higher to buy ge appliance unit for $5.4 billion. the move will allow to expand its business overseas. goldman reaches 5 billion-dollar settlement over mortgageback securities. by land air and now sea, amazon looks to arrange ocean freight. amazon also temporarily dropping the price for subscription s

a 34 handle on west texas intermediate. oil is breaking down this morning.national relations is unfolding into our economics finance and investment. will join usonery and stephen roach later as well. stay with us, worldwide on "bloomberg surveillance." ♪ markets are affected by finance and deflation at international relations. vonnie quinn will keep you abreast of the news. right now, a data check. down.p futures are joints branch down, that wasn't true two hours ago. the handle is one dollar away. let's go to the second board. two-year, -0.38, nowhere near the lows it yielded there. the dollar canada, if you are in the nhl and you are paid in canadian dollars, you are not happy. you want a trade to the new york rangers. francine? francine: thank you. it is all about the data check. we talk a lot about data, that it actually translates. in the last hour, i spoke to the man behind the gloom and doom. in china, it was evident already for two years that the economy was slowing down. optimisticrnally aren't managers who have to advertise their products to make m

brennan and west texas center media approach a $29 handle.s to the market , and the one-way way fed as you want depreciation. in istanbul are investigating an explosion in one of the city's major tourist areas. at least 10 people are dead. good morning, everyone. this is "bloomberg surveillance ," live from our world headquarters in london. with me, francine lacqua. front and center, there is no bid on oil. francine: and we are trying to understand when we can call it bottom and what happens after that. tom: kevin noris was wonderful from barclays in the last hour. spot on about the supply dynamics. now on turkey, here's is our first word news with vonnie quinn. beene: as we have mentioning, 10 people are dead after an explosion in turkey. it happened in an historic section of istanbul. the government says 15 people were hurt. said ite-run tv network was probably caused by a suicide bomber. two majorfered bombings last year, both blamed on islamic state. the head of humanitarian aid for nse united nations says syria in besieged towns need muc

it goes from october, west texas is down 33%.reading your book that this decline does not affect our financial system. into americanplay banking? >> it affects it quite a lot. number of service companies are being forced to essentially accept linkage in revenue because the customers don't need the services. you are seeing less production and less drilling. over time, the banks will have to rationalize the medium and smaller credits. good bit of loss especially coming out of the larger banks. we put out a piece this morning on canada which is one of the strongest credits in the world. the banking system, the housing sector and a number of other sectors are predicated on strong oil prices. tom: thank you so much for coming by this morning on short notice with your thoughts on libya. we will continue with christopher whalen and look at global wall street especially with the announcement of the barclays announcement. there are challenges of employment within the new wall street. futures are doing a little better. ♪ tom: what a day, l

born and raised in west texas, this is the fourth bust he has >> he knows it will end. as he looks for work every day, he just wonders when. >> how hard is it to keep your morale up? >> it is over. i don't -- i don't have anymore value left. i am out of pride. i have a beautiful wife and two good babies to take care of. i do it because i want to be a good husband. i will be a good oilman when it comes back around. >> ahead. >> >> osgood: and now a page from our sunday morning almanac, january 31st, 1961, 55 years ago today. the day a chimpanzee would before. for that was the dana is a loaded ham the chimp into a mercury capsule for a sub orbital rocket ride from cape canaveral. it was a trial run ahead of america's first manned space mission. the rocket lifted off just before noon, but within a minute began veering higher than intended. 115 miles, ham soared 157 miles up. the ground crew monitored his vital signs as he experienced both more weightlessness and stronger g forces than planned. >> in the end, ham's capsule overshot the designated atlantic ocean landing spot

you can see it is racing around 150 miles per hour across the gulf of mexico. heels of this in west texas. because things are moving so fast, we are not exactly host a strong - - sure how strong it will get. storm prediction center has a low risk. here is our category period we are nowhere near the high stress and we are looking for a low-end threat ahead of our storm system that will move in later in the day tomorrow. a mix of clouds tomorrow, late cloud cover, and look at the sunshine on saturday. our forecast issues different aspects shows different aspects of the storm and this one is showing it faster progression, holding a little bit of thunder toward tampa. other models show this getting weaker and not even getting here. have run into with a fast-moving jetstream. i have 40% rain coverage and i am going to favor the later afternoon and evening on saturday. we will be updating videos in our newscast. moving toward sunday, s unday, your warm day will be tomorrow and we will get very close to 80 degrees and the bottom will fall out as a big arctic air mass builds up. i have no freezin

. >> in west texas, $30 a barrel oil means a deepening economic disaster. >> what is this? >> it is a drilling contractor's yard. >> now, during the boom, what would this have looked like? >> empty. completely empty. >> oil field consultant mike rasco, this parking lot for drilling rigs symbolizes the american oil and gas industry going broke. in just the last year, more than total, down 60 percent. >> so each one of these rigs represents how many unemployed people? >> i would say 1,000 each. >> each one? >> absolutely. >> and how many do you think are sitting here? >> we quit counting when they got into the 30s. >> on the road between midland and odessa, it is all there to see, the collateral damage caused by low price oil. >> the auction lots for heavy equipment no longer needed. for the repossessed cars and trucks of the people who have lost their jobs. the pump jacks that aren't pumping. >> a gallon of water is worth more than a gallon of crude oil right now. >> really? >> yeah. absolutely. >> that's another drilling rig that is north of town. >> until he was laid off l

and weather in west texas, froz frozen precipitation.ther impacts, drier in the northern plains and then to the north, drier and warmer into the great lakes. it's interesting to see how it will impact the northeast because we'll see an impact as well. not as much cold air, but wet conditions and some snow as well. >> how long do you think this el nino will last? >> at least through the winter months as it peaks. for the northeast and the great lakes, it means more icy conditions than snow. particularly as you start heading off to the great lakes. the el nino will last into the early spring, but what's interesting is the next phenomenon that we're expecting to occur is la nina. that's known for having more of an amplified atlantic hurricane season. remember in 2005, that was la nina. so this entire year 2016, looks like it will be a year for extreme weather. >> 2005, not a great year with rita and of course -- katrina, correct. let's go to the other side of the country. california's drought. will any of this help them there? i know that w

nino and jetstream, they are lined up and stormed to is already moving to west texas. that will be here by sunday morning. the jetstream is pushing these things along. saturday night until 3:00 on sunday, showers are forming and we could be watching vocals. by sunday morning, the isolated tornado threat could not be ruled out. by the afternoon, early showers, and whatever you are doing, it looks like we will be good. sunday morning will give us some issues and early saturday, low clouds are moving on through and that includes an isolated sprinkle. early sunday morning, showers will move through, it will have wind and isolated tornadoes. south florida may hit the third time of their potential tornadoes. sunday morning i the lunch hour, left our fuzz leftover storms, the highest threat for severe weather south of sanford. the timing is about the same. and it hit around 10:00 on sunday. sooner in the day, make sure you have your weather ready array ready to go. the others went off on our phones. it was all lined up for the same alerts earlier today. and with the forecast

west texas intermediate and brent crude both down 12 percent in the first week of the year. analysts company stocks also feeling the pressure. while parts of brazil have seen decent rains in recent weeks, our reporting partners at pro-farmer say drought remains very serious issue in parts of brazil. the leading soybean state of mata grosso is very dry...however three quarters of mato grosso saw between 3 and 8 inches of rain in the last 10 days. while the center west district - which is brazils largest soybean region - has a rainfall deficit. it's about 60-percent of normal. traders in chicago are watching closely. <"forecasts for northern brazil do call for rains off and on over the next few weeks, just about everybody will get at least some rain out of it. but until now the rains haven't been that beneficial. in mato grosso the state government did say that almost half of the crop is in poor to very poor condition, so definitely some losses there."> meteorlogist say el nino appears to be past it's parched region of brazil.

the numbers in the 30s in west texas. it's cold out there at freezing. temperatures stay cold for the weekend. so the cold air is here to welcome in the new year. richard, what do you think about that? >> i like it. clear, clean, open up the windows, get fresh air, it's not bad. >> sounds good. >> thank you so much. >>> one of the most popular series "mash" died. the affluenza mother spending the night in jail. jail. i've smoked a lot and quit a lot, but ended up nowhere. now i use this. the nicoderm cq patch, with unique extended release technology, helps prevent the urge to smoke all day. i want this time to be my last time. that's why i choose looking for 24/7 digestive support? try align for a non-stop, sweet-treat-goodness hold-onto-your-tiara, kind-of-day. live 24/7 with 24/7 digestive support. try align, the undisputed #1 ge recommended probiotic. quilted northern works so well people can forget their bathroom experience. but sir froggy can never forget. "what's worse", he thinks... "that my arms can never relax or my eyes can never look away?" fe

in 23, covering a sloth of west texas, and flipped back and forth between the representatives, and theast several election resist. the way that it had a chilling impact was not that people had the i.d. to vote. but they knew it would be harder to vote. and more could be expected they would not meet the standards. if they had the idea. it should have been harder, that's the point. in places like georgia and tennessee, after voter i.d. laws get into effect. it doesn't prevent voting for fraud. there's more going on. what it is, it's become a partisan fight. most of the american people support it. it enhances voter confidence. i don't feel strongly of that, we need voter i.d. a majority of blacks. >> sure. first of all, there's no constitutional right. early voting, expanded voting, there's no correlation between which states or parties control them or have the features. for example, in new york, a very blue controlled state. it does not have voting. others states that are red have easier registration requirements, for whatever reason. similarly, early voting does not correlate to who com

an estimated 10% of adult dairy herd in west texas perished. and those are some of the headlines.this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. president obama has laid out his plans to take executive action in an attempt to cut gun violence. part of his plan will result in mandatory background checks for individuals purchasing firearms online or at gun shows. the administration is also calling for the hiring of 200 new federal agents to enforce the nation's gun laws and $500 million to increase access to mental health care. on tuesday, president obama spoke at the white house surrounded by family members of people killed in shootings. it was one of the most emotional speeches of president obama's presidency. at times he was wiping back tears as he remembered children killed by gun violence. >> all of us should be able to work together to find a balance the rest of our .ights are also important second amendment rights are important, but there other rights we care about as well, and we have to be able to balance them. because our right to worsh

west texas intermediate crude popped about 2% higher at the open but finished the day lower. 2016 is barely even begun, and it's already shaping up to be an interesting year. i'm erik norland, senior economist with the cme group in new york. >>> so, now let's check on how share prices in tokyo opened. the downward pressure doesn't appear to be so strong. analysts say some investors are hunting for bargain shares. nikkei trading lower down 0.5%. yen is weaker today. this is supporting market sentiment. dollar trading above 119 yen, recovering from an overnight plunge to below 119 yen. some traders are buying back the dollar against the japanese currency. the euro is still weak against major peers. china jitters and tensions in the middle east are adding to the risk-off mode. euro/yen pair trading at the lower 129 yen range. let's look at markets across the asia pacific region. the south korea kospi trading higher. in australia, shares trading down 1.1%. >>> leaders of japanese security companies are confident. they gave their projection at a new year's event in tokyo. the top executiv

on tuesday, the west texas intermediate hit a 12-year low at below $30 a barrel.rices start sdi in e laer half of . investors became waryf a prolonged surplus. opec decided to put off a reduction in output. prices recovered mid-last-year but slidft iran said it would raise its experts once economic sanctions were lifted. after summer, the trend sped up with concerns over china's fragile demand. and this year we began with a sharp drop in share prices in shanghai. investors are placing sell orders on crude oil futures. they're concerned about the global economic outlook and want to avoid risks. some u.s. investment banks warn that crude may hit $20 a barrel. the oil glut and weak demand from china continue to be a concern for investors. but markets in the u.s., europe, and china finished tuesday trading in the positive after recent volatility. and this wednesday morning, share prices here in tokyo opened higher. the nikkei is still trading higher, up nearly 2%, 17,554. investors are buying shares across the board after declines over the past six sessions. analysts

. >> oat $30 a barrel you can't -- at $30 a barely of barrel you can't in west texas, you draw ohole straight in the ground and oil shoots up, you're still making a little bit of money on that? >> right except for one thing, in saudi arabia, their budge their all-in cost for oil, when you count for the fact they have to protect their oil fields surrounded by shiites and so forth, supporting their populace and keeping things calm, estimates are that their all-in cost are something like 80 to $100 per barrel and that's why you see the saudis borrowing money which they never had to do or rarely had ever had to do and basically going through burning up their reserves and you know, running huge massive deficits. this is not sustainable for them. >> let's talk about the world. you've got saudi arabia they're running a deficit, the gulf countries are all starting to run deficits, this has hit venezuela, iran, russia, but also norway and mexico. >> and hit the u.s. tremendously. what people don't realize ali is that oil yes maybe 250,000 jobs lost within the oil industry. but oil has tremend

some snow along the great lakes, west texas had a bit of snow and looking at rain across the deep south. when we see ran around here tomorrow morning and through early afternoon it's not going to amount to much. this front producing this will come through tomorrow morning so tomorrow will be far cooler than today. let's take a look what we can expect for the bus stop as the kids had out. there may be a little light rain in the area, might send some raingear. they aren't going to need their jackets all day, 43, topping out at 48 in the afternoon. we have talked about a bit of cooling coming. here are the winds and temperatures, where we saw the green today that's where temperatures were mild or here, thursday delivering colder air -the trough lifts out on friday so we warm-up on friday. over the weekend instead of a northwest flow delivering cooler air, we have a southwest flow off so we should begin to warm up. sunday we still have the northwest wind aloft so we should warm-up for that day as well, monday and tuesday should be met -- rather mild but here comes another cool surge that sh

not from the big player, that's over here in west texas and this will move across the certain plains, pick up moisture out of the gulf of mexico and up the eastern sea board and really intensify. we've got cold air coming out of canada and the water off the eastern seaboard has been running warm this winter. when you have that cold air up against the warm water, a storm will form and really intensify. normally without the arctic high pressure, this would come right up across the canal and it would be a classic situation of a foot of snow or more in metro boston but that isn't the case. we have high pressure and it's going to block the northward progression of the storm. so that's why it is a challenging forecast because we're right on the northern edge. and i think you folks in southern new hampshire you never really get into the storm. meanwhile father south, the south coast, you're in the storm. the storm, but still 3-6 inches. even out on portions of the cape and you come up the south shore the numbers will of drop off. 1-3 inches. north of town certainly route 2 north a few flurri

the benchmark west texas intermediate dipped to the lower $29 range in new york. traders placed sell orders after a sharp decline in shanghai stocks on friday. renewed fears of oil demand in china. they are worried increased iranian oil output will worsen the market glut. sanctions are expected to be lifted in the near future. >>> taiwan's opposition leader tsai ing-wen appears to command a strong lead going into the election, but experts say the size of her win and the number of seats her party takes in legislative elections could have a big impact on ties with china. nhk world's naoki makita reports from taipei. >> reporter: ruling candidate eric chu has battled strong headwinds ever since he entered the race in october. national party leader chu is holding his biggest rally of the election campaign. he's asking supporters to stick together until the very end. chu mobilized more than 70,000 people in taipei. >> translator: peaceful cross-strait relations are vital to ensure the people of taiwan have both social stability and economic prosperity. >> translator: t