we have an exclusive with jamie dimon, ray dalio, and we'll also be talking to the ceo of peloton. that's coming up next, but next we got an opening bell as well i am the twisting thundercloud. i am royalty of racing, i am alfa romeo. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ rowithout the commission fees and account minimums. so, you can start investing wherever you are - even on the bus. download now and get your first stock on us. robinhood. >>> as markets continue to make more history, stay tuned for our interview with ray dalio he's been outspoken about reforming capitalism over the next few years also, jpmorgan's jamie dimon talks trade, the economy and the 2020 election. the opening bell's in six minutes. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. by the way, she's the it wasnext mozart.g day.

it's not ray dalio, just like it's not carl icahn. it's the footsteps of those guys and they're being played out by goldman or morgan or whoever did the hedge. now, i thought it was interesting, scott, that dalio said it's not a negative bet he's not betting on a big fall in the market, which is probably correct as the gentleman next to me just said, steve. >> we saw, i said gentlemen, meaning both of you. a billion and a half out of $150 billion is a small number. but we don't know what strike prices it could be a very big -- >> anyway, we don't have any such net bet >> right >> net bet that the stock market will fall. >> right >> people look at the $1.5 billion and go, wow. it's a hedge fund. it's supposed to hedge >> exactly >> but he's doing what we all suggested is that you take advantage of such low volatility to buy protection. >> that's right. >> ray dalio on "wall street journal" reporter to report what ray dalio said about the story that was written about what bet he allegedly had until ray dalio said it's not on the case. t

what he is thinking of fed fund titan ray dalio, trickle down economics is not working. the author himself. we'll be right back. ♪. charles: breaking right now the white house responding to reports that phase one of the china trade agreement won't be signed until next month at the earliest. the administration saying quote, negotiations are continuing. progress is being made on the text of the phase one agreement. we'll let you know when we have announcement on signing location. sounds reasonable. >>> elizabeth warren war on billionaires getting pushback from one of the biggest names in finance. jpmorgan ceo, jamie dimon says she uses harsh words, some say vilify successful people. i don't like vilifying anybody. i think we should applaud successful people. warren firing back with a tweet. it is simple. jamie dimon and his buddies are successful in part because of workforce and public services we all pay for. it is only fair that he and his billionaire friends chip in, to make sure everybody else has a chance to succeed. former reagan economist art laffer. this battle i

ray dalio has been a billion dollars on a big market drop by march. the wager was set over a span of much. ift would payoff bridgewater either the s&p 500 or bridgewater declined. bridgewater is the world biggest hedge fund. softbank is looking for a way to reduce the size of a 3 billion-dollar offer for we work. that was part of its -- for we work stock. the move would be designed to limit the amount paid to wework co-founder adam neumann. employees were outraged with the deal given to adam neumann. elon musk would probably like to do over. he unveiled tesla's long-awaited electric pickup truck but it did not go as planned. two of the trucks armored windows were shattered. you can see it right there. for a while, the truck was the number two trending topic. truck starts at just under $40,000. i am viviana hurtado and that is your bloomberg business flash. time for bottom line. alix: we will take a look at companies worth watching this morning. art hogan of national securities and sarah hunt of alpine woods. would you buy that car? sarah: that is not

hard to argue with ray dalio. he is a likeable and smart man. met him a few times. even if the market pulls back 10% by the year, major indices are you will double digits even with 10% pull back. you have to take things into perspective. he is short the market. he thinks things would fall by next march. how quickly we get back in? if we pull back, like 10% last year, in february we were right back where we were. charles: rick, heather, both stay right there. this huge story, tesla unveiling the future venture, cyber truck, with cheering fans. no media there. in addition to a battery span of 500 miles. it boasts that it had armored glass. tesla boss elon musk, he wanted to brag about it. of course not everything went as plan. jeff flock outside of the tesla design center with more. wow, this was a demonstration for the ages. reporter: i'll tell you, i have got to give him credit, if this had been detroit, one of the big automakers, they would have tested this 50 times, all kinds of eyeballs on it. musk said, hey, throw a metal ball at the window. it will not break. m

dalio, that was ray bridgewater associates cochair and cio. it's time for your latest bloomberg business flash, a look at some of the biggest business stories in the news. carlyle group is considering a bid for the iconic british boot maker doc martens. bloomberg has learned carlisle is in the early stages of deliberations. other bidders could emerge. blackstone group is getting out of its bet on sigel family rental homes, selling office were many stake in invitation homes for roughly $1.7 billion. that sale coming days after democratic presidential candidate elizabeth warren accused blackstone and other firms of profiting from the housing crisis. talks for is holding sales of its consumer health business. it could be worth $30 billion. ceo paul hudson is trying to rejuvenate the french drugmaker and gets a strategy update december 10. that is your latest bloomberg business flash. still ahead, we head back to the new economy forum. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this

alix: into that point, ray dalio was speaking overnight, talking about china-u.s. relations, echoing that same thing. if we get a trade deal, there's still a lot of stuff to work out. here's what he had to say. ray: there's a trade war. there's a technology war. there's a geopolitical war. and there could be capital mores. -- capital wars. that is the nature of the environment. how that is approached is going to determine what our futures are like. alix: i understand you were partying at that event, it apparently. [laughter] i'm not sure it was partying. a sickly, ray dalio was saying this is the new environment where the two sides are in conflict in a lot of areas. he wasn't saying we are going to war. he used that term -- the use of that term is kind of unfortunate. but there are conflicts in these areas that have to be managed well, or it could end badly. one thing that isn't dental -- that isn't getting a lot of press this morning, henry kissinger was there. he said we could have a catastrophic outcome if the two sides keep going in a contentious manner. we can

ray dalio was one of the speakers, and he talked about something that is quite war betweenapital the u.s. and china. have a listen. ray: there is a trade war area there is a technology war. there is a geopolitical war. and the could be capital wars. that is the nature of the environment. how that is approached is going to determine what our futures are like. vonnie: when somebody like ray dalio says that, and clearly he has quite the record to say the least in finance, how seriously do you take it? do you believe it is true, that there might be capital wars? jeremy: you are right, one has to take what he says with a degree of credence, and certainly consider the potential ramifications of that. -- i think that is a realistic backdrop in the sense that it is something that has been framing the backdrop of some of the trade negotiations, and some of the thorny issues with relation to ip theft, for example, because that is an example of china trying to short-circuit some of their economic advancements. in a world wind there are, on occasion, a degree of scarcity for capital, there could

vonnie: i want to play some sound from a gala that ray dalio attended. i want your impression of what we should think when we think hear something like this. war,ere is a trade technology war, geopolitical war, and there could be capital wars. that is the nature of the environment. how that is approached will determine what our future is like. it thathow scary is somebody who is so responsible for capital flows, is so good at doing what he does, so vocal about it, that he thinks there could be capital wars? bill: i think he is right to be worried, particularly, i look at it from the standpoint of capital investment. there has been a significant decline in chinese outbound investment everywhere but particularly the united states. the reality is, this administration's policy to businesses has been, stay here, don't invest abroad, invest in the united states. not everybody pays attention to that, but it has a chilling encouraged it will the new buzzword, which is a decoupling of our two economies. amanda: how quickly do you think that might show up, how mig

that's according to ray dalio. he decried the current policies that are leading to rising gas -- gaps in wealth and opportunity. he said money is essentially free for those who have money and it is unavailable to those who don't. flight attendants for united airlines are balking at flying on the 737 max 8 without a global safety record. it is working to get the plane cleared by the faa by the year's end. the head of the eu regulator plans to decide by january. the labor group representing the workers once the regulators on board before the plane flies again. after zeneca is teaming up with one of china's largest investment banks on a $1 billion biotech fund. that's as the u.k. drugmaker works to build a presence in the fast-growing market. it's working with china international capital to target support for drug and diagnostic developers. certainly we have to invest more in china. look at the momentum we have experienced. fueling ourontinue growth in china. the needs are enormous. >> global news 24 hours a day on ai

matt: getting away from the east-west debate about ray dalio -- debate, ray dalio came out saying extraordinary monetary policy is responsible for increased income inequality which is a problem we see here as well. i spoke with the deputy ceo of deutsche bank. deutsche bank has famously railed against negative rates at least for the last few years. he says one of the results of negative rates is also the income inequality we are seeing drive voters these extremes. what do you think about that? marcel: i think they are barking up the wrong tree. you need to look at the root causes a polarization and it has nothing to do with monetary policy, quite the opposite. monetary policy help create 11 million jobs. you had an employment miracle. we have record high employment and record low unemployment. wealth inequality has not increased because of monetary policy. simply, the bottom 40% don't have any wealth. we need an honest debate at the root causes and this has more to the system between employers and employees. we have an unusually large low wages sector in germany. it is really more of a politica

around middabridgewater rest.er ray dalio put ito it's wrong, i want to make it clear that we don't havech any et that the stock market will fall. "the wall stre journal" said e arti made it clear that the trade wasn't a bearish bet the market but h rather age against exposure to the equity markets. it's the word hedge weant to focus on. the stock market is close to all-time highs. should you hedge your portfolio? maybe you already are. and don't realize it.in jo us tonight is five-star nd manager thomas um. president and ceo of the plum balanced fund. tom, welcome. what about this idea? hedge funds tend t make very concentrated bets. so they need to hedge often. t wha about the average investor out there? should they consciously hedge their portfolio? >> i think you should aays be hedged, bill. always the possibility that the market could go down. so you have to prepared for that but the way that most of us prepare is by having a balance ourportfolio. balance makes sense for your life, for your dietor your exercise. it makes sense for your balance the risk and the return potential. >> wha

ray dalio founder of bridgewater associates says that's not the case dalio fired back saying to convey us as having a bearish view of the stock would be misleading the whole back and forth is thinking if you're betting on the pull back, what's the best way to play it right now. dan has some ideas let's get in the money, dan. >> it depends on time horizon. whether it's true or not, bridgewater is engaged in trading all the time around a lot of their positions hedging, directional, who knows what the heck it is. when you think about a headline like that that a lot of traders and investors were talking about, it gets me thinking about let's look at the pricing of options a little bit with the stock market teetering at all-time highs, it's up 19% we have a little more than 1 month left in the year there's a chart of implied volatility that tracks the s&p 500 and you see that it's trading near one year lows that's the price of options right there. if you look at the spikes over the last year, i think that viewers of this show will also kind of understand that those spikes correspond with de

ray dalio saying the world has gone mad and the system is broken. he's talking about money being essentially free to those who have credit worthiness and unavailable to those who do not. sean taylor from dws is still with us. it is essentially what has been driving the global economy. it is kind of like just constantly feeding the heroin addict and refusing to take the heroin away. >> it is, but i think we are getting to the end of that. we can use monetary policy. particularly in this area of the world, where we are not getting earnings in. in the u.s. at least the companies have delivered earnings. the rest of the world is struggling to deliver earnings. the u.s. earnings delivery has been helped by this low credit. rishaad: they've also been buying back shares. >> and that has been a huge part. rishaad: not so much in the previous quarter, but in other ones before that. >> and that will be more difficult. hence why we've got a lower earnings forecast going forward. rishaad: when you have money which is free, you also don't make those decisions th

on stage, today's luminaries, including bridgewater associates' ray dalio. ray: i think the period we are in is unique. we are 10 years into -- let's take technology. artificial intelligence and so on is replacing people, and it is great for the whole, but it changes the nature of the environment. and that is going to happen. a very important implication in the years ahead. as far as the short-term debt cycle, or the business cycle, we are 10 years into this expansion. many of those stimulants that happen will be dissipating. we won't have more interest rate cuts, better material, you won't have more tax cuts and so on. and this is true around the world, as we have our obligations. we are coming into this period that is a big sad. not a debt crisis in that way. a lot of obligations that are coming at us, particularly in mature reserve currency companies. they include tension obligations, health-care obligations, and the like. large deficits which will have to be monetized. there is a reserve currency issue. of course we have the external conflict, or the iss

that is from ray dalio, not mincing his words. he said that at the same time that money is essentially free for those who have money, it is essentially unavailable for those who don't. that contributes to the rising wealth, opportunity, and political gaps. let's get back to patrick armstrong from plurimi wealth. i have a great chart looking at u.s. stocks compared to the rest of the world. the top position is being tested. this goes back to monetary policy and the limits of it. how much do stocks grow from here? patrick: u.s. stocks will be driven by earnings growth. there is no scope for multiple expansion. the s&p 500 is at 13.5 times. the only time it was higher was september of last year and in the spring of 2000 before the tech bubble collapses -- collapsed. not complete the unprecedented, but the president where we were did not lead to good things -- precedent where we were did not lead to good things. stocks, overall, are too expensive in the united states. francine: are we going to get a correction? patrick: i think we are

why ray dalio is warning of a coming capital war between united states and china. >> and taylor shift not shaking it off her feud with two well-known music executives and she is taking it to new heights "worldwide exchange" starts now. >> i've got a feeling we'll be hearing a lot of taylor swift this morning i'm dominic chu in for brian sullivan this morning friday november 15. dow up by about 95 points and nasdaq up about 37 we are on pace for the fourth straight positive week for the dow. yields have come off their highs. 1.85% for the 10-year benchmark wise two-year 1.61% we are watching the difference between two-year and ten-year notes. let's go worldwide the nikkei up baut 7% and the shanghai off and the kospi seeing a big move there. hong kong economy has plunged into the first recession in a decade as violent protests paralyze the city. the second straight reading of contraction. we are possibly now, if you look at some measures, in recession in hong kong in european trade, the dax up .3 and cac up .6. this morning, it's trade dominating the headlines white house economic advi

dalio's remarks? >> we don't agree, i don't think anything in the forecast that would suggest the market is going to tank, if you think about what what would make markets tank, walk get away from trade deal and probably going forward with the december tariffs, that might be somebody that would certainly create a lot of negative sentiment in the market, that's not our base case, we think that they'll be some sort of a deal that struck or an economic recession and we certainly don't have that in our forecast either, we disagree with that forecast that the markets are going to tank by march. maria: pretty good backdrop actually. >> we talked about the consumer doing well, the big question with this china trade fight has been do ceo's hold off on investments, do they do nothing, do they move manufacturing out of china and stake their claim someone else, what do you see now as you look at companies, earning reports coming in, earnings calls happening, what's the message out there on investment by companies

. >> larry, is ray dalio right to think this war is going to be multi-tiered and it's going to extend to other areas like technology and capital regardless of what happens short term with ag purchases and other trade deficit related things >> i absolutely agree. ray is spot on what we've been telling clients is if you think about this phase one trade deal, while we think that will get done and it's very important because it will show some progress and it will serve as a catalyst for the equity markets, the bigger picture is what he's talking about and there is not only an economic but also a military technology and financial market type of relationship that we need to work out with them i think what's important is that this is going to be around for years to come and if one thing has come from this trade war it's that we have to have a cordial working relationship with china because there's really no winners when you have these wars and that was starting to happen with the trade and now that we've got some progress, hopefully we'll be able to avert those worst case scenarios. >> is th

the world has gone mad with free money according to billionaire investor ray dalio. hea post on linkedin, decried the current policies leading to rising gaps in wealth and opportunities. he says that money is essentially free for those who have money and is essentially unavailable to those who don't. looking at a potential deal to take the company private. it could become the largest buyout deal in history. it recently held informal talks with private equity firms. the drug company has a market value of around $55 billion. walgreens and kkr declined to comment. softbank is disclosing the damage from its bets on we work uber, leadingnd to the investment powerhouse's first quarterly loss in 14 years. it comes as they try to raise a successor to its measure -- megavision fund. to the u.k., where philip hammond is quitting parliament after his expulsion from the conservative party for voting against boris johnson. he will stand down at the elections on december 12. he hit out at johnson for not allowing a wide range of you within the tory party -- of views within the tor

. >> this isn't necessarily a conversation of capitalism versus socialism it's the likes of a ray dalio or marc benioff suggest that capitalism itself could be tweaked, maybe my word more than theirs >> of course everything can be tweaked. these are nails. i tried to break it down into the allocation -- the allocation or reallocation of wealth on the one hand or house of representatives of the system should be run by the government is two bifurcated things the label is distracting i think that's what the debate is about should there be private health care or the government administered system? on paper it looks like the government system would be effective but it's that profit motive that makes sure you get the best people in the jobs, people work hard, longer hours than they should, you get rid of incompetent people, you reward people who work especially hard or are especially good, you shut down things that don't work, even if it's in some congressman's district the private sector can behave in ways that people in government cannot so no shade on the people in the government my dad wo

dalio saying capitalism in its current form is broken, that has to sway middle class voters to trump, to biden, to someone else. how does this work? >> absolutely. you look at the proposals that warren is putting out, you have wealth taxes, medicare for all which would inevitably result in taxes on the middle class itself, these things are polarizing. she's betting on being able to win over the radical left base, but that's not going to be enough to score her an election. so, yeah, if you look at the map in 2016, a lot of these blue collar voters, a lot of the middle class workers went from trump instead of hillary for the exact same reasons. lauren: that's exactly what hillary clinton said at a book event. she said the democrats need to elect someone who could win the electoral college. who is that candidate? >> yeah, as of right now it looks a lot like either biden or trump. the new york times actually had a pretty interesting poll this past weekend that narrowed the race down to about three playing fields. you had trump versus biden, trump versus sanders and trump versus warren. i

the question, are they seeing the light or preemptive like the ray dalios of the world, you're right we need to do something because they're so afraid if they simply sit there the far left will completely take over and change their lives? >> maybe that is the case. maybe people are worried they will be outed they haven't been giving enough. social media has been great at that showing who is giving it, who doesn't. i'm glad people with more are giving back more. i would like their motives to be pure and good but the money still works. charles: it does. cover of this week's "time" magazine about the elites falling apart. the overton window that has shifted no matter there has been a major shift and a lot of very wealthy folks calling it guilt, whatever, starting to sympathize with the notion their success has come because we have paved roads and they should be giving back more. are you okay with us going down this path? >> okay with the fact that what the people are feeling that they should give back to their communities? i'm okay with that. charles: not just give back with the communi

ray dalio speaking today said this about what the fed can do from here or maybe what it can't and how it could be stuck. i want your reaction to what he said. let's listen. >> i think the system is pretty much stuck. you can't raise rates, because as a result of the stimulation, companies and various entities have a lot more debt. so it is stimulated, the borrowing and the purchases have produced the stimulus. you know if you do reverse it, it will have the effect of causing prices to go down. fair is that fair >> it depends on the underlying circumstances. if we have a shock surprise, you're not going to have a choice. it depends on what's counter acting not just price variables in the market. but i do think the fed is a a point of stasis. they have to save some and put the nuts in the tree they have described cuts so far. the one thing i would hate to see here is i don't want to go to a negative interest rate regime. what do we do on the fiscal policy and let the american neural spirit run. i think we are in very good shape. i want to ask you one more question. it's on negative rate

dalio, a man like myself took the giving pledge i believe and done very good things with his money. i don't think he's recommending socialism. we have to deal with the problems this is why i took the giving pledge i want to give it -- i have -- the greatest joy i get in life, is to see my kids and grandkids grow up in good health philanthropy can do. excuse me. the last i have to be is emotional but i don't know if i answered your question i think the election is very, very important and if we tilt to the left it's going to be a very big negative for the stock market it will be a negative for multiples. it will be negative for profits. i think elizabeth warren comes across to me as a hater basically. she wants to do something damaging to business, damage to wealth people, she seems to resent wealthy people. bernie sanders the same. i see it differently >> let me -- the final question because we're having some technical stuff again. since you're ending with what you just said about elizabeth warren given all that you said and how you think about it and how others think about it maybe

talk about very famous hedge fund manager ray dalio. this story caught eye of all the traders. "wall street journal" saying he was betting against the stock market. and dalios firing back saying it is wrong. i want to make clear we don't have any such net bets that the stock market will fall. pretty definitive there. moving on to walmart now. that company betting big on china. over the next five to seven years. go on to read the rest of it. we explained that we were not betting against it. they have said that it would turn by march. that is what they thought he had said. walmart is betting big on china. doubling down with 500 new stores. they will remodel 200 stores. now this is an area they get a lot of growth in. triple the level of sales growth they get here in the u.s. of a. this will be the world's largest grocery market by 2023. you can see why walmart would be betting big there. back to you. connell: gerri, thanks. melissa: no backing down, a bombshell, we can't say bombshell anymore. a massive report from the doj. it shows how far china is willing to go to take on the u

ray dalio out with another piece, invest founder of chief water associates, wrote a scathing post. at the same time money is free, for those who have money, unworthiness, unavailable to those who don't have money which continues to rising wealth opportunity and potential gaps, your thoughts on that, because bob is making the money that there's so much free money and that's why investors are bidding shares of xerox, they will buy it anyway. >> ray dalio is right on the money, our society is so divided just pure opportunity, it's hard for a lot of investors to go out there and access the capital machine that's going on in our country right now, let's not latter ourselves and say that everyone has access to this money, if you have a major fund, the money is so pulled right now that you're seeing this across the economy, economy, excuse me. maria: what do you think, mark, he made excellent points in the article, he talked about central banks are flooding the market, lower future expected returns, it's going to have associatal impacts because pension funds, he write pension funds will h

it's not like the cowboys -- this is not that ray dalio wakes up and says, i want to buy apple. that's never happening that's not part of the -- >> then he doesn't act on his recession calls that we hype whenever he makes them in the last few years we've hyped a lot of different calls none of which -- >> i don't think that those calls per se -- first of all, i think a that we, i put it more on us than i do him. >> i would too. >> in hyping >> yes >> no, that's what happens >> we're doing it again today. >> mike's explanation is perfect. >> have you gotten hurt by saying yields are going to stay low around the world and there's a lot of macro -- >> very few of the big bond guys stayed long. >> mike's explanation is perfect with the nuance that puts are cheap. this isn't a bet the firm and you don't know what else the firm is doing and balance the risk on the other side. >> by the way, you want that you almost want people thinking just around the corner there's something you have to worry about. >> that's not new thinking over the last year. >> it's finance 101. if we didn't have

rishaad: we had ray dalio make comments yesterday and posted something on linkedin. you also have a presence in china, unlike many other social media -- you could say it is not social media, but you've got more of that, people getting political or saying things controversial on linkedin, how much pushback are you likely to get in beijing? olivier: we are in china doing the same thing. we are connecting people with opportunities, connecting them with jobs. on thek professionals platform engaging with people, customers, partners. the political space is really not what is coming into place here. it is a opportunity and connecting people with opportunities at scale. rishaad: the other thing we talk about a lot on this program is est and diversity inclusion. you claim you foster that. how do you do it? olivier: this is really important to us and in terms of diversity, the first thing you need to believe in firmly as a group and as a company is that diversity wins, so we believe fundamentally that diversity more diversity will serve our members better, customers better, sh

alix: that was bridgewater founder a ray dalio speaking in beijing. time now for bloomberg first take. we are going to give you the news. you get the trade and analysis from our in-house team of wall street traders and veterans. damian sassower, vincent cignarella, and joining us, marvin loh, state street global macro strategist. i had a plan on trade, but then lewis this news that capital.closing moore you will have stories about this. vincent: oh man. they were one of the most significant players in the 1980's, 1990's. wonderful story about moore capital. we are sitting like everyone on the street waiting for the o.j. simpson verdict, and nothing was moving, and the verdict came out. all of a sudden, the dollar collapses. why would the dollar move on o.j. simpson? moore capital used to deal through dean witter back in the day, and he hit the street with about $1 billion and sunk the street, just sunk the dollar, and took it all back and made a huge profit. i was out to dinner that night with three traders, banks that don't even exist anymore. [laugh

and ray dalio says the world has gone mad. the man who runs the biggest hedge fund in the world's has free money has led to crazy things, widening the wealth gap. joining me is bloomberg's sonali basak. ,et's start with our favorite and that is softbank. walk us through what we saw. sonali: the $6.5 billion is not so crazy relative to estimates. i think that's one thing in fairness to softbank. what was interesting, as many investments in the vision fund gained as declined. the reason i bring this up is the softbank stock is not plunging by any means because people factored in a lot of this. alix: that is a fair point. sondid hear masayoshi talking about that. >> time will solve the wework problem. we will make money once the wework building portfolio is allowed to ripen. profitability will drastically improve, and we can expect the cost to go down by half or even more. it is that simple. alix: i feel like that is what should have been said when they were trying to ipo. you arei think what seeing is the shift in tone. of cours

the dow jones is reporting that ray dalio now has a $1 billion bet on stocks, that they were going to fall by march. is it time to start

francine: just some of the conversation from the new economy forum, that was ray dalio, bridgewater associates cochair and chief executive officer. still in beijing is tom orlik. we talked about the u.s.-china trade war, but what are the consequences of lower for longer interest rates for the world economy? tom o.: i think where we are now, is a world where growth is -- the trade war appears to be in a truce, brexit appears to be heading away from a hard brexit outcome, so some of the concern about global growth has disappeared. the reality is the risks are still there, and extremely low interest rates in europe and japan, a little bit of space in the u.s. and china, but not much , mean that if we do have a bigger than expected fight into 2020, the monetary space to offset that will not be there. francine: how much more can china throw at its economy? tom o.: what has happened in part has been an absolutely critical chinese response. remember the 4 trillion yuan stimulus in 2008 during the sovereign debt crisis. we also got a big chinese stimulus that pulled china out of the slump and pulled t

dalio at 10:00 a.m., talking about the record rally and his predictions for social turmoil and the years to come. an exclusive with jpmorgan's jamie dimon and talking china trade concerns, the presidential race and a lot more. that's tomorrow right here on "squawk on the street. we call it the mother standard of care. it's the idea that if our mothers were diagnosed with cancer, how would we want them to be treated? that's exactly how we care for you. with answers and actions. to hear your concerns, quiet your fears, lift your spirits. that's the mother standard of care. this is how we inspire hope. this is how we heal. cancer treatment centers of america. appointments available now. cancer treatment centers of america. oh, wow. you two are going to have such a great trip. yeah, have fun! thanks to you, we will. aw, stop. this is why voya helps reach today's goals... ...all while helping you to and through retirement. um, you guys are just going for a week, right? yeah! that's right. can you help with these? oh... um, we're more of the plan, invest and protect kind of help... sorry, litt

. >> my pleasure >> do you agree with ray dalio's assessment of the economy and the state of the market right now? >> well, i will say, we've done a lot of work on periods where you get a lot of asset inflation when you're not seeing it as much in the real economy, as measured by things like assets held by households as a share of disposable personal income, which are at a record high and they do tend to -- those eras tend to correspond with eras of most metrics tend to be lower, productivity, even job growth so i would agree with that part of it. >> we saw another rate cut from the fed last week. do you think that's it are we done? >> yeah, i'm >> i think we have some technical issues with liz ann. >> we'll try to get her back i think the one thing that liz has done very well and pointed out is this bifurcation in the economy, and when we get her back, we'll try to patch it in but what she's talked about is that -- and steven weiss addressed this earlier, there's so much data out there now where you could pick, do you want to have a bullish view or a bearish view on one hand, you've go

dalio that will be coming from the greenwich economic forum that's coming at 10 a.m. eastern time. >>> coming up next, top stocks making moves ahead of the opening bell. we will be right back. >>> coming up, more reaction to our exclusive interview with boeing chairman david calhoun. are investors satisfied the company's on the right track fresh sit inghand analysis is straight ahead when "squawk box" returns. with every attempt to free itself, it only becomes more entangled. unaware that an exhilarating escape is just within reach. defy the laws of human nature. at the season of audi sales event. >>> welcome back to "squawk box," everyone we've been watching the futures. even after setting records for the s&p, dow and nasdaq, all three major indexes are indicated higher this morning. dow looks like it would open up by 62 points in part because of boeing shares a little higher. that stock is up by $4 after chairman dave calhoun spoke with us exclusively in the last hour. s&p up by another 5.5 points and nasdaq up by 20. >>> more than an hour until the actual opening b

ray dalio warning the conflict between the u.s. and china could extend to trade and technology. he said a capital war could be next. congress is trying to limit the amount of money flowing from pension and investment funds into china. in southern california, investigators are trying to determine why a 16-year-old boy pulled out a gun and opened fire in a crowded schoolyard. two were killed and three wounded for the shooter turned the gun on himself. .e is in critical condition supreme court justice brett kavanaugh told a conservative group he went through an ugly process to get on the court. he spoke to a group whose members helped beat kim -- helped him become a justice. assaultccused of sexual decades before in high school. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. scarlet: thank you so much. we have libby cantrill, pimco head of public policy joining us as we want to talk about what larry kudlow said. the white house economic advisor says negot