peter: 1.50. jonathan: jim keenan, winifred cisar, peter tchir, thank you for joining us. from new york city, that does it for us. if you are stateside, enjoy the long weekend. over in london, see you next friday at 6:00 p.m. this was bloomberg "real yield." this is bloomberg tv. this is bloomberg tv. ♪ francine: mark carney will soon end his term as governor of the bank of england. carrying the u.k. economy through crises and years of brexit related uncertainty. a high-stakes, divisive issue that has been impossible to forecast. good preparation for his next job, tackling climate change. born in 1965, the young mark carney dreamed of greatness in the world of economics, getting a doctorate at oxford. carney spent 13 years at goldman sachs, then entered public service, eventually governor of the bank of canada.

peter: that takes us to washington, d.c. because bill gates took pride in the fact that microsoft did not have a d.c. office for a long time. brad: he did take pride in that and then learned there were clearly better things in which he could take pride, and we are in 56 capitals around the world. peter: you conclude your book by saying technology innovation is not going to slow down. the work to manage it needs to speed up. brad: we really believe governments need to speed up. i used to come to washington. people 15 years ago here didn't understand technology deeply. many times today, they often do, they understand it much better and to some degree, politicians get a bad rap. i think journalists look for the opportunity to point out, here is a politician who didn't ask the right question or didn't ask the question the right way. i think that is a mistake. i don't think it is accurate. you don't serve anybody well whenever you criticize them for asking a good question the wrong way. the truth is, we have regulators and politi

peter: thank you for your time. joining us now is ellen weintraub, a commissioner on the federal election commission. how is it that you were chair of the fec during a republican administration? >> it is a bipartisan body and was designed that way. it is supposed to have three republicans and three democrats, or no more than three members of a single party. right now there is a problem because there are only three commissioners. the chairmanship rotates. last year, i was the chair. this year, a republican is the chair. peter: next year, will you be the chair? >> i hope it will not come to that but a democrat will be chair. peter: what are you doing here at the conference? >> i am here to talk about technology and elections. there is a lot of interest in the role of technology in our elections. i know i'm one person who is concerned. i think there a lot of concerns related to technology. there are concerns related to hacking. i am also concerned about how messages are being conveyed to the american people and whether

peter: amen. lemonis: ...and you have your community, and that's all that matters. ♪ what's happening with the marina? have you sent them an invoice yet? rick: yeah. we got the invoices out. lemonis: how much was that? rick: about a quarter million. lemonis: okay. have they gotten it yet? rick: oh, yeah. lemonis: they're in receipt of it. rick: they're in receipt, but they won't sign, you know? lemonis: okay. well, you still got it, so... lemonis: so how do you think that's gonna play out time-wise? rick: there's a hearing date on the 20th. lemonis: the owners of the marina have now received a proper invoice for their past-due fees. it'll take a while to resolve this issue, but there should be some money coming to the town sooner rather than later. ♪ part of the reason i needed to come back to grafton is to close on the bank building that i bought, and i also wanted to hear from kim exactly what her plan was to open up her own small business in this space. so what's the plan? kim: well, the pl

peter: 1.50. jonathan: jim keenan, winifred cisar, peter tchir, thank you for joining us. from new york city, that does it for us. if you are stateside, enjoy the long weekend. over in london, see you next friday at 6:00 p.m. this was bloomberg "real yield." this is bloomberg tv. ♪ john: hello. i am john micklethwait in davos. if you are interested in the rise of protectionism and the consequences to the world economy, then there is no better place to look than singapore. the free trading hub that has remained the friend of china and america until now. please join me for a conversation with lee hsien loong, the long-standing prime minister of singapore. you sit in the middle of two big things, you have the u.s.-china relationship or the lack of it. you also have this current tide of nationalism, protectionism. you are unusually open and reliant on free trade. can we begin with u.s. and china?

please join me in welcoming peter carmichael. [applause] peter: good morning. crowd: good morning. peter: every time his thoughts drifted to past battles, charles's hand started to tremble. he had passed through the ordeal of the overland campaign with his comrades of the one 47th new york, and even though he could not shake the dark memories of what he had seen and done, he looked back on the battles in the wilderness of spotsylvania with a sense of pride. that was a place where he had earned his badge of manhood. something that had eluded him before the war. he had believed people hadn't had a high regard for him, including his family. he once wrote to his wife, he thought of himself as the black sheep. it appears that was largely because he had struggles with alcohol. in the summer of 1863, he was drafted into the army of the potomac. his first day in the army, he hopped off the train, was given a blanket, ordered to sleep on the ground, and woke up the next morning, wrote a letter to his wife, explained to her he needed to get "out of this fix." [laughter] peter: arriving with

peter: what was the outcome? james: the outcome was that we , the fbi, through the department of justice, became involved in litigation with apple about that because apple has a different view about whether it should be required to alter how its systems worked in order to be provide us with that access, so the doj agreed, we went to court. in the lipid core process, a third party came forward and said they thought they had a solution that would enable the fbi to get into the phone without having the assistance of apple. they came forward, provided us with the solution, we tested it, and assessed that it worked for that particular iphone and therefore, as a legal matter, t.e case was moo we didn't need the assistance of the court anymore took off her shower ejected so the department of justice were fired to withdraw the suit -- were required to withdraw the suit. peter: as a societal matter, do you still support the idea that we need to get into that phone? james: well, i guess it depends on what you buy that -- m

juan: peter quickly. peter: i just want to respond. because were dealing with a very complicated human situation. were talking about migration for immigrants or refugees. when dealing with human beings and make choices. even under extreme duress i would argue that many of the people coming up from central america listen to conversations like this and here people here or elsewhere who are unwilling to make distinctions in their rhetoric on the way they talk about policy ought to be between when the motives of somebody was looking for work, somebody was looking for temporary work to save money to go back home for somebody who is playing domestic violence partly from their lives. there's a whole lot of complicated motives there. the people, from central america are other parts of the world of mark migrating to europe, have complicated and mixed motives which is why i would agree with elisa, that we do have to do due diligence to make sure they find out with those motives are. some of those motives are people really seeking to come up here

peter: right. the farmers, throughout much of american history, the farmers of the south are not keen on tariffs because they rarely help them. they increase the cost of goods. and occasionally they will protect them, but jefferson was not for tariffs. jefferson was not for creating a big government. the coffers was not something he was offered. he eventually has to eat his words and become a person who put tariffs into place, but not initially. hamilton is looking at supporting the urban northeast with factories that are located and the tariffs are protecting them. the efficiency in the united state certainly at this point in the late 1700s is not very great. and caused of labor in the u.s. is always extremely high. this is one of the, well, maybe two things you can say about the u.s. throughout the entire history, there is a lot of land and not many people. and because of that, labor is consistently very high. and in the u.s., people keep turning to new techniques, greater efficiency machines in

peter: you have 100 of these in 20 countries? brad: more than 20 countries, more than 100 data centers. microsoft is one of the largest but google, facebook, apple, are all building more and more of these data centers. it is where we are all storing our data. they become the largest consumer of electricity in the world. peter: if i send any mail from microsoft outlook from here in the office to somebody in the office, does it go through the microsoft data center? brad: it doesn't have to. you can use it in a form where you write it on your own server computer in your office or stored on your laptop, but the world has moved to the cloud over the last decade. it is cheaper, more secure, you are always going to have the latest technology, you are not going to have to upgrade it yourself, you can rely on the microsoft cybersecurity team rather than someone in your office. so the world is shifting and most technology is moving in this direction. peter: what is a cost build one of those buildings that you say is the size of two footbal

peter: we need to own that. that's congressman collins said earlier, we need to get off our behinds and stop being so polite about this. this is almost a life-and-death and death situation for us. barbara: if we look back, adam smith told us a couple centuries ago that markets work. they worked with the butcher, the baker, and with the pharmacists. and they work with the consumer and the patient. let's keep that in mind. look at the laws of supply and demand. nobel laureate smith said those are god-given laws, so we should keep that in mind. peter: so it is wealth and health of nation. david, you live and practice in colorado. how would a system of socialized medicine impact your ability to help patients? insanepeter, it would be . i am a shoulder and elbow surgeon. i get to operate all over the world. i have been in operating rooms in vienna, all over europe, south america, asia. ,ne thing we know is the truth in socialized medicine, waiting times are disastrous. in the canadian health care system, the surgeons

peter: mr. baker, another thing in the news is the foreign intelligence surveillance act court system. is it working? james: fisa, foreign intelligence surveillance act, is definitely in need of modifications and reform in a lot of different ways. there are two different things to think about. there's the law and the process by which the government implements the law. and as the inspector general report recently revealed, there were significant mistakes, omissions, errors, in particular that the fbi committed, that i am not going to defend, and are not acceptable. and so the inspector general, the fisa court, the fbi, the justice department, are focused intently on that right now. i think that is a good thing, and if changes need to be made to the process, then so be it. that would be a good and helpful thing because the american people need to have confidence that that system works, because it is critical to protecting their privacy and security. stepping back from that though, in the current d

peter: 1.50. jonathan: jim keenan, winifred cisar, peter tchir, thank you for joining us. from new york city, that does it for us. if you are stateside, enjoy the long weekend. over in london, see you next friday at 6:00 p.m. this was bloomberg "real yield." this is bloomberg tv. ♪ mark: i'm mark crumpton with bloomberg first word news. federal prosecutors have decided not to file any charges against former fbi deputy director andrew mccabe. the justice department's inspector general had accused him of repeatedly lying about authorizing a subordinate to share information with a newspaper about an fbi probe into the clinton foundation. mccain has denied he intentionally misled anyone. is 2018 firing was politically motivated. defense officials are standing behind her decision to divert nearly $4 billion in funding for military aircraft and other programs to help pay for a walk on the u.s. mexico border. some in congress and the move was illegal. defense secretary mark t. esper border security is national security, and our national security is our mission. the pentagon als

peter: it's a huge growth area. for a long time a lot of us thought there was a lot of talk on the topic, is the money moving and is there action? i think there's been a paradigm shift. e.s.g., you'll have to prove what you're doing and investors are asking for it and they want to know. there's various ways to do it and i think the e.t.f. market will be at the forefront of that. we've seen some bold statements from black rock, from goldman that this is really changing the way people invest. francine: what do you look at for an e.t.f. e.s.g.? is it like a part ruble and part something else? peter: there's a basic way you exclude things people don't like for whatever reason. but i think that's pretty rudimentary. it's about the data now. francine: there has to be an active one, right? peter: not necessarily. you can put e.s.g. in a transparent index and there's a fair amount of it out there. esmci has done that with their families. right now where the active and passive worlds are meeting on this topic is the data. wh

peter: really? dr. panagopoulos: and other countries in the world where voting is not a choice, you have to go vote and there's no guarantee that those individuals are going to make wise choices. they may even cause outcomes to occur that are less desirable for whatever reason. and i think one thing to acknowledge, and i do believe we should get as many people as possible to vote. and i'm committed to that as an individual and as a scholar, trying to think about this and study it, right? but i think it's important to point out that if we do raise voter turnout dramatically, this will look like a different country. the kinds of policies that people support, the kind of views that are out there, the kinds of issues that politicians will support, et cetera, could look very, very different and in some ways, maybe not in necessarily in the ways that we expect. and i think that's partly what the knight findings show is that these nonvoters may not look like we think they look like. this data dispels a lot of

money laundering scheme 45000000000 yen into ukraine peter from the e.u. u.s. i.m.f. where is that in my mind i didn't buy it in well 100 got a little got a sliver of it exactly let me go to david where the money go you know damn it i mean from the ukrainians perspective you know america's their new ally but from washington's perspective ukraine is a new client state that's the rub that is the difference here go ahead absolutely well and i think is just hilarious you know because we can only guess how strongly at war that statement of all true grain was because as washington examiner writes. we're flying our own. piro taught these woman from n.p.r. and mary louise kelly do is think americans really care about your green of course they daunte is the answer from the washington examiner but ukraine from my campaign on exactly ukraine is important s. of poor against russia so let me remind you of another phrase from then super warsi who hates on payola drum so much about nancy pelosi never the less valuable she said russia it's about russia it's not about ukraine it's abo

[applause] >> thank you peter. i'm open to compliments, if you look at my copy all the way through, you can tell i was engaged. when i get to the end of the book and i've used up to independence, it's probably a sign it's a hell of a book. i was early lucky reader, peter got me a copy over christmas and i spent the holidays with. it's a work of history asyou just heard . and it, history is an act of making diverse and sometimes divergent sources over here into an understanding and maybe a set of narratives that are relatable and analysis that can make you as you said, reimagine the world and understand a new, in this case the world of war and that was my experience that i don't want to talk about history, at least notdistant history . i want to talk more about now and the more recent observations since the persian gulf war of 1990 and 91 and the so-called, as the military calls it global war on terror since 2001 and bring events that peter has related up to the present time. are there any recent veterans in the roo

[applause] peter: mike bloomberg will get the job done. mike believes our public stewardship of public lands, water, and the air we breathe is not only worth continuing but it is integral to climate change arresting policies. i am supporting mike bloomberg because he has been helping make the world greener, cleaner, and better for many decades. and he has done this work before. [applause] i was born and raised in and just outside of new york city, and i can tell you mike was an absolutely tremendous mayor of new york. [applause] in new york, he cut emissions 13%, making it the cleanest it had been in 50 years and he added 850 acres of parkland to the city. [applause] at the end of 2013, 76% of all new yorkers lived within a 10-minute walk of a park or playground. unlike the president, mike bloomberg believes in climate change and has been attacking it for years. [applause] peter: unlike the president, mike trusts facts. [applause and cheers] peter: he believes in science and he puts the health of our country first. we need a leader who wil

joining us, peter navarro. assistant to the president, the president's trade czar in the white house. peter, let's start with -- i know you are busy -- >> a wake-up call on steroids. lou: let's talk about that. what are we going to do about the absence any production capacity for pharmaceuticals in this country? i want to focus on that. peter i'm going to ask you to respond to my question. that's what i'm going to ask you to do. >> go ahead. lou: you missed the question. >> you asked about the production facilities in the united states. lou: how are we going to respond to that. >> vaccines are what we'll need. we have five companies here in the u.s., a manhattan-style project to get us the vaccine hopefully as early as next november. get 50 million doses. it there require effort in research and development. in terms of the treatment, there is a drug that looks promising. the thing that we need absolutely to do is get that into clinical trials. we have been having trouble with the chinese cooperating on that. so

hello and welcome to crossfire where all things are considered peter lavelle briggs it is a reality in the u.k. is finally out of the european union now what kind of relationship will the u.k. have with europe and the u.s. also secretary of state mike pompei oh asks do you think americans care ukraine. cross talking some real news i'm joined by my guest he. is a political analyst and editor at you know so many internet media project and in london we crossed the markets papadopoulos he's the editor of politics 1st magazine crosstalk rules in effect that he can jump in anytime you want and i always appreciate let me go to marcus 1st in london well it took 1316 days but the u.k. is finally out of the european union the next 11 months will be very key what can we expect and i want to focus on ship with the united states go ahead marcus. well now that britain has left the year in union the hard work begins because last time the one happens next it's office opportunities to the u.k. for example for cool since it's in c. league anus primacy and recency to construct a sensible and coherence im

peter: i think it is. if you look at the market, we had a selloff on fear of the unknown, and then things got a bit more clear. markets are beginning to think maybe this won't be as bad as we thought it might be. as a consequence, they rebounded quite sharply. if you look at measures of equity volatility, it's been pretty low. all in all, it sounds very complacent to me because we don't know how far this will go, when it will end, how it will end, how quickly recovery will be. a prudent investor should probably be taking this off the table. the only reason they haven't is because they have nowhere else to go. they want the yields in equities delivered. if they had an option, they wouldn't be there. guy: there is belief that central banks around the world will step in. paul: but also governments. measuresose supportive sophie was mentioning, singapore and around the region, it has been a similar discussion, whether it will be the right stimulus to address the problems caused by the virus. you have people un

you know their problem is russia is in a peter rabbit. restless and this is yeah in china now as well but west listen this is what the west is doing to itself you're exactly right i mean west listeners it's this neo liberal policy that we've all been living under it's the mass immigration it's the destruction of religion the structure of family the censorship the woken the identity politics this is all coming from the neo liberal west west listening is the neo liberal west destroying itself but like you said peter it's russia's fault it's china's fault everyone else's fault that's what's this this is what they're doing to themselves they're they're destroying their own society that they have built and they're doing it in an incredible unbelievable fashion you know what i find really in standing you know alice cooper used the word walk and woking is here but you know there's numerous reflection on the part of these elites and say much of the world would like to have traditional western values in their own lives and let the ok they strive f

now here's peter andres. good afternoon i am the director of the watson institute for international and public affairs, and i am so delighted to be here today to celebrate killer high. fantastic new book by peter andres. i just want to say as a student chinese affairs, i hardly need to be told about the relationship between drugs and war. i have course know the intensity and the feeling of china and the central humiliation that began with the opium war, but at the same time it's easy, for people like myself to think about the opium war as an anomaly or something very particular to a very particular time and place. i am saying i am guilty of thinking about the opium war that way. but great scholarship, truly great scholarship like killer high in a lot of the work that's done here at the watson institute forces me and us to see the world in a totally new way. this book, has forced me, and i think it forces all readers to really focus on the internal and expansive relationship between drugs and war. that relatio

besides myself and mr humphrey i represent your corporate investigator peter humphrey and activist peter darlin have since been released they're now turning the spotlight back onto the platforms that aired their confessions accusing chinese state media of human rights violations the media are not just innocent bystanders forced through broadcasts these things they help make to help produce them to help extract them. it's no secret china has ambitions plans to extend the global reach orbit state own a t.v. network. but there are now growing calls for the international community to hold its journalism to international standards actually they are not media we are a part of his punishment and. yet thousands and yet you know. so well what i don't like about lamb when keith never intended to be an activist. but these days he's a regular at pro-democracy protests in hong kong and an outspoken critic of the chinese regime. up until 2015 though lamb led a quiet lie. if managing this bookstore on a busy streets in hong kong. it served a nice market customers came looking for gossipy political book

peter: a very big presence. if you look at these classic deep value sectors, oil and of course banks, which we discussed a little bit, it is around 20%, 25% of the ftse index, three times more than the average across the global index, whereas the u.k. has small weight in vast growing areas, 2% of the index. stock in that classic deep value space, which at the moment is challenged, low valuation, that we think around half of the discount of the u.k. compared to the rest of the world is a function of just francine: the sector exposure. francine:where do you see the most -- of just the sector exposure. francine: where do you see the most exposure? is it in sectors? peter: the operation spreads are wide, not as high as pure growth, which is where we have more extreme valuations, but we think trying to find areas that have some growth but have lost the highest valuations is the right place to be. particularly looking at companies that are cash generative with reasonable yield. a lot of that cuts across industries, bu

i couldn't help but hug peter and tell him thank you. he's one of those guardian angels you need to have in your life. i didn't deserve to be on death row for three years. i didn't deserve to be incarcerated for five and a half years. i have a lot of horrible memories, and i'll never be the same person. >> the judge decides tape and transcript aren't gonna be used, the wife, key, is not called. what kind of case do i have? >> i gave the prosecutor those videos where sloane had spoken in contrast to her trial testimony so that he knew that if you put her on the stand, i was gonna cut her off at the knees. >> i wasn't recanting. i questioned it because whether he did it, didn't do it, at that moment i didn't know. i mean, it was such a horrible crime. but my thought also was he wasn't alone. >> sloane did struggle with >> sloane did struggle with this and i think the culmination all became a reality the day of his arrest. >> i didn't want to believe that was a possibility. he showed up. he's skiddish. and i said, did you kill them? did you

joining us, peter navarro. assistant to the president, the president's trade czar in the white house. peter, let's start with -- i know you are busy -- >> a wake-up call on steroids. lou: let's talk about that. what are we going to do about the absence any production capacity for pharmaceuticals in this country? i want to focus on that. peter i'm going to ask you to respond to my question. that's what i'm going to ask you to do. >> go ahead. lou: you missed the question. >> you asked about the production facilities in the united states. lou: how are we going to respond to that. >> vaccines are what we'll need. we have five companies here in the u.s., a manhattan-style project to get us the vaccine hopefully as early as next november. get 50 million doses. it there require effort in research and development. in terms of the treatment, there is a drug that looks promising. the thing that we need absolutely to do is get that into clinical trials. we have been having trouble with the chinese cooperating on that. so

peter: where did you place your market when it comes to privacy? as chairwoman, do you have certain criteria that are no crosses for you? rep. schakowsky: we put out a draft to all stakeholders. friday was the deadline. hundreds of stakeholders from industry to consumer groups have responded and they all have -- that was really important to me. we did that with the republicans. now, some of the things were in brackets that we aren't agreeing on yet. the people who really care, work in, use the internet to have an opportunity to respond. i don't have antitrust, but i have consumer protection in my subcommittee. the federal trade commission, many of its functions are overseen and regulated in my subcommittee. and clearly, the federal trade commission needs to be spruced up in order to deal with this issue of data privacy. it's literally, been, well, at first, we thought it was just an unregulated world, but now we see that actually it is regulated by -- we call it self-regulation by the companies. you know, in england, they have 500 professionals wor