michael: so nice to meet you, marcus. lemonis: nice to meet you. michael: michael woods. lemonis: michael, do you dress like this every day? michael: every day. ramona: every day. lemonis: you look like a million bucks. michael: thank you. lemonis: so, tell me about ashtae. ramona: we are a multicultural hair-care company. we only sell directly to beauty salons. lemonis: okay. you're not in any retail? ramona: right. michael: we service salons door to door. lemonis: and when you say "door to door," go to a salon, meet somebody for the first time, shake their hand. michael: correct. lemonis: and what region do you do business in? michael: south carolina. that's where the bulk comes in. lemonis: if michael's going door to door, and that's how he's generating his revenue, it's kind of obvious to me why they haven't broken outside of the carolinas. door-to-door selling is wildly inefficient. taylore, what do you do here? taylore: a little bit of everything. lemonis: well, what is your actual job title? ramona: well, right now, taylore is a little in limbo. lemonis: what does

it may be that president obama knewhat michael flynn -- that michael flynn was dealing with foreign governments for profit without disclosing that, and feared he would not be the good public servant on behalf of the united states, especially somebody with very sensitive security clearance, we about your contacts with foreign governments, they know something that our government doesn't know, and it leaves us very susceptible to blackmail. -- on a background investigation, people are investigated for whether they are susceptible to blackmail, because if they are, and you have secrets, someone can use that as leverage to get you to behave in ways that is not in the best interest of the united states. as for michael flynn leading guilty to a crime he did not commit. we have evidence of what he told the fbi during the interview in 2017 which directly contradicts what is on recordings of his conversation with russian -- with russian agents. to say he is not guilty is just wrong. it is objectively recorded. host: one of the headlines coming out of yesterday's hearing, the front page of the washington

joining us now to discuss the michael flynn perjury case. that case before the full court of appeals in dc circuit yesterday. can you just start by reminding viewers why it was before that full panel yesterday. >> this is very much a process. prejudge panel in the district court, the district of columbia a court appeal has granted a motion for mandamus. it is an extraordinary remedy that tells the judge, we must do something or not do something. and they directed the judge flynn or dismiss case. but happen yesterday in the full court, all ten judges to decide this case re- heard it. ... ... the reason this case is being heard, it is an unusual posture and that after pleading guilty, michael flynn, the justice department is dismissing the case. and so for that reason, the judge is required to give permission. there is a court rule that said in the case to be dismissed with leave of court. so he scheduled a hearing to hear more about it before rendering a decision. and then leapfrogged that decision and led to the court of appeals to say he mu

and adding these unconstitutional burdens of process to punish michael flynn judge sullivan discarded any semblance of the unbiased impartial adjudicator this court extolled in the 2019 chapter of the case saga and the cornerstone of any system of justice. >> barbara mcquaide some legal terms in there but among it she said general flynn is a defendant without a prosecutor. in our legal system how can a case keep going if the justice department a longer wants to prosecute that case? >> ordinarily it is the prosecutor who has full discretion and for good reason. knowing their resources and priorities and factors that a case called crocker and one of the key pieces of language in the case is the prosecution is entitled to a presumption called regularity in the absence of evidence to the contrary. this showed very unusual evidence we do have a case where the evidence is strong. when he starts showing discomfort with pleading guilty to judge us if he so wants to plead guilty many months later and he said yes he does but then when i knew it turn a general comes along it throws out the work

to michael about his recruitment. obviously michael is a great ambassador for the university of north carolina and one of the greatest players of all time, not just as a tar heel but in all of college basketball history and all of basketball history. basketball is important not just at unc, but in this state, in this region, in our community and definitely here on campus at unc. the acc has grown. it was called tobacco road because so many of the programs were based here in north carolina. basketball is very important. it's part of the culture. it's part of when you come to school at north carolina. a lot of people that come here come because they want to be part of carolina basketball, men's basketball, women's basketball, carolina athletics in general. athletics is not the primary reason people come to the school. getting a great education is always going to be the primary mission at unc, but basketball is part of that. it's part of the fabric of the community, part of fabric of life in the acc, and people do take i

michael was good enough to loan us several items from his collection. we also found some great artifacts in our own files of letters that coach smith sent to michael, things he wanted him to work on, a recruiting card that coach smith kept on every player he recruited. first, on the card, it is mike not michael, and his nicknam is "magic" jordan. people did not know until they saw that card that in high school his nickname was "magic" jordan. on the other side of the case we were very fortunate that michael let us. weather was nba all-star games. m.v.p.'s, national player awards he won here in north carolina. one of the items was a recruiting letter that was the most talked about items because of the great respect that michael has for a coach and the duke program. it is certainly one of those pieces that people come in, they look, and they go, why is there a letter from duke university in the north carolina basketball museum? they see it is a letter about his recruitment. we are very fortunate. michael is a great ambassador of the university of north ca

of letters that coach smith sent to michael. things that he wanted him to work on, a recruiting card that coach smith kept on every player that he ever recruited, and one of the great things from that cart is first of all on the cart as mike, not michael. on the second is magic jordan. his nickname, magic like magic johnson. until people saw that, a lot of people did not know that high school, michaels nickname was magic jordan. >> on the other side of the case, we were very fortunate that michael let us go to his home in chicago and pick out several items to put here in the museum. whether it was nba all-star game trophies, mvp of the all-star game, national awards that he wanted north carolina, one of the items that gets a lot of mention is the recruiting letter that the coach sent michael. it's probably one of the most talked about items because of the great respect michael has for the coach and the duke program has gone on to great heights as well. it is certainly one of those pieces that people come in and see and say why i

michael: that is the issue. the question that comes up, certainly they cannot do a lot more stimulus, but they can keep rates low. the question is does jay powell talk about average inflation targeting, that has been the wall street expectation, the idea they tie their policy moves to a rate of inflation that runs above their 2% target in order to let them bring unemployment down, which is what they have been doing. it is not their formal policy. maybe he will sort of outline that and at the september meeting we will hear more about it. that will be the question for investors. tom: michael mckee will go off and have the man of the mountain breakfast at the pioneer grill and he will join us in a bit to drive forward fed speak. we are thrilled to bring you megan greene, at harvard kennedy school, a senior fellow. brilliant work with market economics and acute analysis into the broader theory of what we are doing in economics and how it links into finance and investment. megan, thank you for joining us. issue,to go

michael mckee advances the discussion with mr. kaplan of dallas. michael: thank you, tom. good morning. thank you very much for joining us today on bloomberg radio and television worldwide, and thank you for not wearing a tie and not making, adhere. [laughter] -- not making tom look bad here. robert: i try. michael: there are those who safety framework review changes all well and good, but what makes you think you can even get to 2% inflation, let alone over it since you have gone a decade without getting there? robert: it's possible that it will take a while to get to 2%. disruption inbled particular are limiting the pricing power of businesses, and inflation has been muted for close to 10 years. articulationpolicy is really a reaffirmation of the situation we have been operating in an hour decision functions for the last few years. it is not a radical shift yet it is an affirmation that we have been in a more muted inflation period. we've been alert that that could don't you policy articulation as a radical change. it is a reaffirmation of the way we have been operating.

michael: no. this year, we've already lost over $1 million, and it'll likely lose another couple hundred thousand in the next few weeks. lemonis: what do you think the break-even is right now? what does it need to do to break even? michael: somewhere around $400,000 to $500,000 a month in revenue. lemonis: why is that number so high? michael: running the operations here without her taking salary or anything like that is over $100,000 a month. lemonis: that's rent, the employees, not including cogs. michael: not including cogs. it's including the equipment, right, which is all leased, the rent. lemonis: the company is bleeding money because the overhead established for the revenue, you can't outrun it. what i would've expected rachel to do through the process is start out, probably, making cookies at home and then go commercial kitchen, where other people can actually share the expense. if she outgrew the commercial kitchen, she would start making phone calls to co-packers. it's a way to increase p

michael mckee is here with more beer michael: -- michael mckee is here with more. michael: we got mixed messages. song,b is seeing the old to you in september -- singing the old song. they did not know what was going to happen with the virus. here is what the minutes said. thets september meeting, governing council will be in a better position to reassess the monetary policy stance and policy tools. this would provide more clarity regarding medium-term inflation outlook and prospects for economic activity. they have had a sharp initial rebound because they controlled the virus and the economy came back and so some people going into the meeting felt they might not have to spend all of the 1.3 5 trillion euros they set aside to buy bonds. but some were saying, wait a minute, let's see what happens with the virus and with the economy and from the stories we have just seen, it appears they were right. the prospects for the economy have darkened and it will be interesting to see in september what they do. that is the opposite of the message we got got from the fed last

." >> your husband michael. okay. i'm sorry to tell you, ma'am, he's been killed. >> she's like poison candy, attractive on the outside, but deadly on the inside. >> she was pure evil. >> he fell in love with her. he thought she was the end-all, be all. >> she had everything she wanted, but she longed for one thing more. >> this guy was going to be killed. >> then it happened, her new husband, police say, murdered in their town house. >> something happened at her house and she needs to get to the house fast. >> was this crime all that it seemed? >> she played such a good game that people didn't know. >> a surprise was coming. >> you don't know what to think. >> and it would arrive from beyond the grave. >> oh, my god. >> there has not been a story like this ever in our county history. >> is she the villain? is she the victim? who knows? that is what makes her riveting. and she is infamous and probably will be forever. >> hello and welcome to "dateline." when dalia and mike first met it was instant fireworks, an immedi

>> no, said barbara, it was all ex-husband michael wolfe's doing. his guilt, she said, make sense of his strange behavior during their time in arizona, particularly the weekend david disappeared. a weekend when, barbara says, that her ex-husband was not with her at home. >> he would always go on business trips and every time i asked, he would tell me, don't worry about it, it's -- you know, i got business to take care of. >> but she knew nothing at all about the murder, she insisted, until the penny dropped during a conversation years later with her father. >> i'm like, i wonder what he's doing or i wonder if he's coming back, you know, i wonder where he's at or what happened. and he would just be like, you don't have to worry, you know, he's not around to bother you. >> what was that like to deal with? >> very, very rough. you know, it's like, it's my dad. i couldn't accept it. and what satisfaction did it get, you know? did it satisfy him? because it sure didn't satisfy me. >> still, in december of 2007, it was detective velasquez who got what she

michael: that sounds about right. my forecast is calling for through the end of next year, but when you think about when we can sustainably achieve 2% inflation, which will be a precondition for the rate hike, could be several years. five years seems about right in terms of when we can generate higher inflation. you talked a little bit about inflation and whether we could see some inflation sooner than that. in july, we had a nice top in inflation. as we settle into more of a normal, slower recovery, i expect disinflationary forces well predominate and for that reason, it will be quite some time before we see 2% inflation. i would expect rates to be at this level for some time. kailey: are the disinflationary forces powerful enough to offset the monetary stimulus we have gotten? michael: on the unprecedented fiscal, you are right. a lot of that was paid out in the second quarter of this year and we are undergoing a bit of a ppp,l cliff right now with expanded unemployment benefits, some of these things are rolling off

michael: no. they can take a victory lap and say we are creating jobs, but clearly the rate of job growth has slowed down. higher than we got during the great financial crisis. tom: way too high. muchel mckee, thank you so , always wonderful on these dynamics. linking this report into the financial markets, jeffrey rosenberg joins us. portfolio manager of the systematic multi-strategy fund. let's look at systematic right now and i see higher yields. is that a modest adjustment or can you say we will pull back from those lower nominal yields of the last number of days? jeffrey: i think it is a modest adjustment and earlier you nailed it when you link the report not the implications for monetary policy, but to the implications for fiscal policy. when you're looking at the bond market in the yield reaction, you have to go out a lot of decimal points to see the reaction to this report. this is not about influencing monetary policy. monetary policy has been clear it will be highly accommodative. they a

with that data is michael mckee. michael: we are looking for the retail sales numbers. the census bureau a little slower getting them out. we are now seeing retail sales are coming in worse than expected. up 1.2% in the month of july. the forecast was for a 2.1% gain. autos a little better than expected. range for the 7% june. the control group, this is the one economists watch, retail sales control comes in better-than-expected at 1.4%, up on the month of july. that compares with the .8% forecast and 5.4% increase in june. it is not as good during the month of july as june. things have slowed down. this will be interesting. it is obviously distorted by who has been at work. 7.3% in the is up second quarter. unit labor costs up 12.2%. had lower people who paid people off the payroll increased the cost to businesses. take a look at what went up and down during the month. motor vehicles and parts dealers were down 1.2%, which is kind of a contrast with what was expected because unit sales have come in strong. furniture and furniture stores were flat on the month. building

michael steele, what did you think of the punches landed? >> well, so the punches were in some cases pretty good. they had some definition on joe tonight. be that's just -- i think more the combination as opposed to any one singular punch. so yeah, i think in that regard, the joe biden campaign probably has to come back and respond to some of that tomorrow. but overall, i still think this thing missed the mark simply because elections are about expansion, conventions are a way to create the backdrop for that. don't get me started on the white house as a backdrop. but the whole idea is to create the kind of momentum coming off the presidential -- the president's moment, the nominee's moment that carries you. i don't think it carries him as far as some may be saying, as you alluded in the intro. even fox was kind of like yeah, it was good speech, you know. >> michael, fox is not feeling it. we even have a little bit of that. >> yeah. >> i want to bring in liz on the fear, because that was a big theme. but donald trump is the incumbent. so this

michael baca voted for john kasich. their idea to vote for a more moderate republican instead of the state's popular vote winner to prevent donald trump from winning the white house. one vote counted, the other didn't. the plan didn't work. but their decision to vote faithlessly. that would linger amid controversy in court filings for four years. >> where this gets wouldn't this be really interesting, frank, to be combustible if what happens if they were to shift the outcome. >> in 2011, two electors flipping would have flipped the results. i think we will see a series of elections, we will see close results going forward that makes this election much more important in the future. >> they are playing a dangerous game. the american people have absolutely come to expect when votes with cast on election day, the presidential election is decided. to undo that 220 years of history it would defy expectations and constitutional expectations. >> that's why the supreme court added it to its docket. >> the supreme court will neve

ters michael e is here live next. with the freestyle libre 14 day system, a continuous glucose monitor, you don't have to. with a painless, one-second scan you can check your glucose with a smart phone or reader so you can stay in the moment. no matter where you are or what you're doing. ask your doctor for a prescription for the freestyle libre 14 day system. you can do it without fingersticks. learn more at freestylelibre.us. you can't claim that because it's inanimate! people ask me what sort of a person should become a celebrity accountant. and, i tell them, "nobody should." hey, buddy. what's the damage? i bought it! the waterfall? nope! a new volkswagen. a volkswagen? i think we're having a breakthrough here! welcome to caesar's palace. thank you. when you're miles from home... ...your bank should help you check on your account to see what's free to spend. henry... virtual wallet® is so much more than a checking account. easily see what's free to spend. and put money aside for your next big purchase... like a t

michael joins us now. what happens if the dollar persists lower, what happens to ag exports globally? >> that is the prerequisite for higher ag prices. exporter, highest ag especially with soybeans and wheat. a dollar decline is key. some of the key drivers that have been supporting the dollar for the last 10 years like in outperforming stock market and higher yields are still in place. alix: yes, however in the short-term, humor me and say you get a weaker dollar than a stronger rialto, does that incentivize more exports of soybeans? they have had a good relationship with china, or not? that has been incentivizing exports from brazil, but if we can get a weaker dollar that will incentivize exports from the u.s.. that is a prerequisite for higher soybeans, weaker dollar. alix: how much more upside can we get? michael: soybeans around 950 but might get to 10. i still see soybeans mirrored in that range between eight and $10 a bushel. alix: what about corn or cotton? they are also wrapped up in the trade war

mina, michael and simon thank you all so much. simon you are going to have to get your say on the us presidential election next time. whoever wins, the biggest issue they are going to have to face as the economic cold war between the us and china. policy and that is something that will some up the difference between the two. thanks to something that up so briefly. goodbye for now. we had the heatwave and now it is cloud and drizzle in the odd rumble of thunder in the distance and that is what we have now got for at least 24 hours and possibly the next few days, very sort of cloudy, rainy, showery and thundery weather and the humid air is still coming in from the south. it is swelling around an area of low pressure. here is a closer look and you see that moisture in the cloud coming in from the south and basically this area, this bank of cloud is going to be stuck across much of central and southern britain through the rest of saturday and within it there is a loss of drizzle and rain at times but also the possibility of thundersto

congratulations, michael, willow. judge has made his decision, so i have no choice but to accept it. and we'll leave it at that. right. thank you so much, nelle. alright. i've got other clients to see, and i know you all want to spread the good news. nelle: except i'm not finished. you may have won this round, but i am still wiley's mother. so no matter what the judge says, i will always have a part in his life. so much for taking the high road. alright, let's go. you could have had wiley. you could have had your son, a loving little boy with a great smile and endless curiosity, who's happy all the time and makes everyone around him happy, but instead, you chose to hurt michael because for some insane reason, you thought revenge would be more rewarding than loving your baby. i feel sorry for you. yes, well, i'm gonna head home, which is also, thankfully, a bar. julian, it would be great if you could wait for me. we have some things to discuss. whatever you say, dearest. i'd like to talk to nelle alone. of course. you'

it may be that president obama knewhat michael flynn -- that michael flynn was dealing with foreign governments for profit without disclosing that, and feared he would not be the good public servant on behalf of the united states, especially somebody with very sensitive security clearance, we about your contacts with foreign governments, they know something that our government doesn't know, and it leaves us very susceptible to blackmail. -- on a background investigation, people are investigated for whether they are susceptible to blackmail, because if they are, and you have secrets, someone can use that as leverage to get you to behave in ways that is not in the best interest of the united states. as for michael flynn leading guilty to a crime he did not commit. we have evidence of what he told the fbi during the interview in 2017 which directly contradicts what is on recordings of his conversation with russian -- with russian agents. to say he is not guilty is just wrong. it is objectively recorded. host: one of the headlines coming out of yesterday's hearing, the front page of the washington

for more, we go to kenosha where we're joined by michael bell's father, michael bell, sr. whwho led the campaign to change the law. welcome to democracy now! this must be horrifyingly familiar to you. while you have jacob blake laying handcuffed in a hospital bed as a result of being shot by white police officers seven times at point-blank range in the back, you must have gone through a lot of deja vu in the last days withth your familily. tell us s the story of your so michael. >> first, thank you for hahaving me on n your show. i want everybody to know i am a retired military officer. i was a pilot. i'm coming at it from that perspective. i flew combat m missions in t te different conflicts fofor our country so when my son n first t killed, it was really hard for me to believe that a uniformed person would do that. becausee e everybodydy i was associated with wowould never he done something like e that. it was really sad that i did not even believe my own daughter's version of it. it took me about 10 weeks or so befo i i understood the truth hardeneduse i wasas so as a p

i'm michael holmes. appreciate your company. now, the latest on the other coronavirus hot spots around the world. the country with the second-highest case count is brazil, with more than 3 million infections. and the virus has claimed more than 100,000 lives there. a grim number that took only a few months to reach. mexico has the third-highest global death count. more than 52,000, and recorded more than 475,000 cases. and iraq's health ministry reporting more than 3,300 new cases on saturday, bringing that country's total to more than 147,000. well, with the u.s. about to hit 5 million coronavirus cases, more states want the option of mail-in ballots for the november election. but president trump. he doesn't like the idea. he continues to sow distrust in and make false claims about mail-in voting. and blames the democrats, in the process. here is part of what he said on saturday. >> they even want to force states to implement the controversial practice, known as ballot harvesting. very dangerous practice. meaning, they would al

michael mckee, thank you very much. bloomberg's international economics and policy correspondent, thank you as always. let's continue this conversation trivedi, goldman sachs cohead of global fx and commodity research. digesting not just reaction to powell, but also the news out of japan. we do see the yen climbing more than 1% from where it was. i did hear some voices suggesting if abe could get igo, the yen would strengthen. if that because continuity is expected here in japan? what is driving the yen this morning? kamakshya: thanks for having me. i think that is absolute right. i think alyssa continuity is key from a market standpoint or a yen standpoint. the overwhelmingly dovish monetary policy that has yield curve control -- you know, bond buying orchestrated by governor kuroda at the bank of japan, he still has another look couple years, so that should ensure some continuity. also there is the likelihood that there may be an election later in the year in japan, and there isll be that going to be a new candidate,

michael? >> far from over, will. thank you so much. >>> now we'll turn to what is looking like a revolution in the country of belarus, a former ru. hundreds of thousands o demand demand the ousting of the country's longtime dictator. patrick reevell is on the ground for us in minsk. good morning, patrick.escenes. on sunday there were over 100,000 people were estimated to have just flooded into minsk all demanding that president alexander lukashenko step down and that new elections be held. it was the biggest political protest in the country's history. euphoria on the streets here late into the night. people really seeming to feel that they're close to toppling a leader who's been in power for 26 years. you can see they're back out again behind me now outside state television demanding it be switched off, but lukashenko is still very much in power here and dismissed demands he hold new elections saying that won't fear among people here when we ask about a possible russian intervention. >> all r

we will go to our colleague michael mckee. michael? >> thank you, david and thank you for joining us. thisld like to start with morning's data, an unexpectedly large jump in the consumer price index. that started or at least contributed to a debate on wall street about whether all of the stimulus is inflationary. some people even talking about the possibility of stagflation. is it a reasonable discussion? >> i think it is very premature to be concerned about a significant increase in inflation. i would say i am still actually ourerned that we will have 2% inflation target. inflation is a sustained increase in prices. i think that we are seeing in some of the monthly reports is some things have been scarce because of the pandemic. other things in abundant supply. we are seeing things like airline tickets in some other areas where it does not really reflect low cost growth but actually reflects the cost rupture that occurs when we have a pandemic. i think there will be relative price changes that will increase and make the reported numbe

michael. i do want to say however, mike, you have proven my point. years ago i wrote an article about the importance of knowing how to recount movie lines and plots to really make it in the national security and foreign policy field. any of that again. now you go forward and you'll see how awesome that is actually important. it's usually the godfather. so mike i like to ask you a couple of questions. in the past couple of months you been really busy at home writing a few great. one essentially talked about the problem of reciprocity in the u.s./china relationship. think you talked about how twitter as a platform they're using twitter here in the united states as a platform. they prevented the use and china itself or it could you talk a little bit about that possibility customer can second like you to comment a little bit more with the recent and talks about the possible cold war between the u.s. and china. there's some criticism of that , they wrote a letter to the editor he had the term not h

michael: they are somewhat equal. a lot of people look back at 2000 and say the markets are looking like 2000 today, and it was a smart decision in 2002 by bonds and salt stocks. the difference is bonds were being propped up by unrealistic expectations of earnings growth. today, that is not the case at all. very differently, the market is being held up with the belief that rates will stay low for longer. change, thatto would change the outlook for stocks and potentially hit some of those large-cap growth stocks. but if rates are going up, you don't want to be buying bonds. i think you want to be even come in that rates are going to stay low, and that will help the growth part of the index maintain these rich valuations. areexpense of stocks today the higher-quality stocks as well, which is -- alix: it looks like we are having some connection issues. really good, michael. appreciate your time. this is bloomberg. ♪ guy: from london, i am guy johnson. this is bloomberg markets. let's talk about an interesting story. ma

mina, michael and simon thank you all so much. simon, you are going to have to get your say on the us presidential election next time. whoever wins, the biggest issue they are going to have to face as the economic cold war between the us and china. policy on that is something that will sum up the difference between the two. goodbye for now. that's it for dateline london for this week — we're back next week at the same time. hello. we have now lost the very intense heat of the past week, but we haven't lost the potential to brew up some really punchy thunderstorms. and it is the southern half of the uk which looks like it could encounter some issues as they thunderstorms search up from the south in the afternoon. a band, if you like, of showers swirling their way across the south—west of england into south wales, the midlands and the south—east. if the sun comes out and warm things up a little, extra energy in the atmosphere will means that the showers turn very nasty in some places. northern scotland has the best of the suns

>> previously on "michael flynn" >> michael flynn resigning after the sortest tenure ever in that post >> retired general michael flynn pleaded guilty today to lying to the f.b.i. >> flynn's attorneys tonight filing a motion to withdraw his guilty plea >> the other side of the michael flynn story today are the actions from judge emmet sullivan who is attempting to proceed with possible prosecution. >> you never go near my husband. do you ( bleep ) understand that? don't you ever go after my ( bleep ) husband. >> and now, tonight's episode of "michael flynn." >> stephen: welcome to "michael flynn," where, just like every other prestige drama these days, we're not afraid to kill off beloved characters-- because in tonight's episode, we're bumping off lady justice. this morning, a federal appeals court ordered the judge to dismiss the criminal case against michael flynn. well i'm sure he's learned his lesson: that rich, well- connected people don't have to learn lessons. the order to dismiss the case without review is called a "writ of mandamus," which is also the name of a poorly receive

arguably, michael cohen gave all of that stuff to bob mueller and sdny, as well. and we haven't seen anything. does that mean there's nothing happening or does that mean it was a different sort of investigation? >> so, one thing to remember is first the special counsel's office did not have within its remit -- in other words, it had set limits that were put in place by the deputy attorney general and that did not include a sort of personal or trump organization financial investigation. you know, sort of classic white-collar investigation. so that was not directly within the special counsel's office. now, the southern district of new york could have looked at that, but one thing that is public is you'll remember, the skirmish at the sentencing of michael cohen, where the southern district of new york seemed quite displeased with his cooperation and said it really wasn't full and complete. so i don't think, just based on that information, my sort of educated guess would be that the district of new york is not looking at this and that the office that's really taking

michael: pretty much. that's one of the major problems. the fed doesn't like to talk about it, but a lot of money market funds have eliminated fees because they can't make any money right now with rates so low. you're not getting any return, so to keep their customers, they are getting rid of fees, and basically doing the job for free. tom: lisa, you have been way out front on this. we are not germany. we have money market funds that don't want to break the buck. lisa: and right now you have big companies getting out of the money market business because they don't want to break the buck. at this point, are people talking about more negative consequences from this perennially low rate regime then positive consequent is? michael: it is hard to say they are talking about negative consequences more than positive consequences because there certainly are some positive consequences to low interest rates. we are seeing that in the housing sector in particular. but financial repression, as tom has talked about for years, is a bad thing, particularl

mina, michael and simon thank you all so much. simon, you are going to have to get your say on the us presidential election next time. whoever wins, the biggest issue they are going to have to face as the economic cold war between the us and china. policy on that is something that will sum up the difference between the two. thanks to something that up so briefly. goodbye for now. that's it for dateline london for this week — we're back next week at the same time. goodbye. it is very cloudy across the uk right now. there are a few scattered downpours as well and will continue to see these storms over the next couple of days. very little change on the weather fronts. the air has become very stagnant across the uk and quite humid ever since the heatwave ended days ago in the south and central areas. we are seeing the same pattern day on day. clouds re—form in the south, move northwards and bring the threats of showers, downpours and thunderstorms. this is what the picture looks like this evening. you can see where the showers are

michael: they sort of made their own room. the fed has stepped in and done some extraordinary things that 10 or 15 years ago, we wouldn't have even considered. the lending programs are very broad at this point, by bondsorate directly. the thought is where can they go from here. it gets a little bit more difficult. they've lended to just about everybody at this point, and they've cut interest rates to zero. unless they decide they want negative rates, there isn't much more for them to do to stimulate the economy. it is about how they go about keeping rates low. lisa: this is exactly where i wanted to go. is the fed running out of tools? how much is that going to be a central narrative of this conference? michael: it depends on what you're talking about in terms of tools. if you are talking about ways to keep the economy going, to add additional stimulus, they can do more qe and put money into wall street to pump up the markets, but beyond that, they can't do a whole lot to add more stimulus to the economy. the difference now fr

now, michael cohen was convicted of multiple federal felonies. he was sentenced to three years in federal prison. he was released from federal prison in otisville to home confinement at his apartment in new york earlier this year because of the coronavirus epidemic. now, the white house is denouncing the book already. they put out a statement tonight calling it fan fiction, which means i don't really think they know what fan fiction is. the book is called "disloyal." it's not out yet, but we do have this first chapter, the fo foreword. i will tell you i do not know what he's talking about when he says in the foreword that he has evidence that trump did collude with russia. and that trump cheated in the 2016 election, quote, with russian connivance. we don't know what michael cohen means by that, but he says it is explained in the rest of the book. i also don't know what cohen means when he says he was tasked by trump with putting him in touch with vladimir putin through a secret back channel. i don't know what that is. i don't know what cohen mea

that, of course, was kind of a deal breaker for michael cohen. and a federal judge ruled that it was clear retaliation and violated his first amendment rights. so it is pretty remarkable how much the trump administration doesn't want this book to come out. to the point that a judge last month said this is something that i have never seen in my two decades of being on the bench. >> there is an excerpt from this i want to read to you from the forward in which he says trump also continued to pursue a major real estate deal in moscow, to insinuate himself into the world of vladimir putin. i know because i personally ran the deal and kept trump and his children informed as the president lied to the american people saying there is no russian collusion. i have no dealings with russia. there is no russia. is there anything in this book that is dangerous for the purposes of michael cohen? because he was invited to tell investigators everything he knew. in other words, is this color, is this stuff we generally knew in greater detail, or is there something

we don't know what michael cohen means by that. but he says it is explained in the rest of the book. i also don't know what cohen means when he says he was tasked by trump with putting him in touch with vladimir putin through a secret back channel. i don't know what that is. i don't know what cohen means when he references the sexual infidel at thisities of the pre. i don't know what he means when he says he was a participant in tax fraud with the president, although that one i think i may have an idea. i also don't know what he means by trump's, quote, deals with corrupt officials from the soviet union. again, i got some inklings there but i don't know what details michael cohen has and what he's going to spell out. nor can i illuminate you on what mr. cohen might mean when he says, golden showers in a sex club in vegas. i mean, that one i could -- i could try to illuminate you as to what that means. but frankly i would just -- that one, even if i knew, i would prefer to just wait for the book. i would rather do that in somebody e

tom: michael mckee with us. we'll get to dana peterson right now of city global markets -- of citi global markets. , lower yields off of the data as people look at what michael mckee is looking at. dana peterson is the global economy stalling out as michael alludes to? dana: it is really kind of on a rolling basis, depending on when the virus speaks in your region. weake still seeing very data. most economists are downgrading their forecast for regional growth for this year, and also the expectations for next year. they are also pushing back when they believe gdp level will return to pre-covid levels. anna: indeed. make the point that a rebound is not the same as a recovery. what kind of date do you have in mind? you can take this globally if that is meaningful. what kind of date do you have in mind for us to actually recover to pre-covid levels to the global economy? dana: it looks more like the drivenhalf of next year, mainly by china and the united states. yes, some of the high-frequency data have been a litt

michael cohen testified there to just one instance in which he witnessed that personally. and we know that cohen began cooperating with the manhattan d.a.'s office in the summer, meaning with investigators while he was in prison in upstate new york. if the new york grand jury finds a provable pattern of criminal activity, then there may ultimately be substantial charges for cy vance to bring. his office is urging the judge in this case not to let the president keep delaying this subpoena endlessly in the courts because that would end up being a kind of back door to the presidential immunity that the supreme court specifically rejected. joining us now are two reporters with an extensive history of reporting on donald trump's finances. david enrich is "the new york times" business investigations editor, also the author of "dark towers: deutsche bank, donald trump, and an epic trail of destruction." we're also thrilled to have back with us, "new york times" investigative reporter susanne craig, a key member of the reporting team that won the pulitzer prize in 2019 for its dee

michael collins, it is real simple. we are seeing inflation, but so much of that component is real estate. how do you see that dynamic folding through inflation into what fixed income does? michael: well, the real estate markets are seeing the exact same thing as a microcosm of the broader economy, were you are seeing more of a shift in the demand and supply of different goods. maybe it is difficult to find a bicycle or a fishing pole, and difficult to find a suburban home these days because there is so much demand, but the real estate markets in general, if you look at commercial real estate in almost any sector other than warehouses and logistic based, it is brutal. tom: let me ask you a really important money question, which is where is the shadow economy right now. where are the shadows of 2007 or even 2006 out here in 2020? yourel: i think if you put long-term hat on, you look at the trajectory of the u.s. and global economy, the whole developed world has been on a slowing trend for decades now, and it is driven by

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michael: it is. if you go up 50 basis points, you are looking at losses on a price basis of 10% plus. the potential downside is enormous. the potential upside is very limited. it seems to us it is really not the greatest strategy. [indiscernible] tom: anna edwards, what mr. schumacher just said is absolutely critical. yield get a 0.5% move in you see ayear bond, reduction in the value of your investment. i thick a lot of people don't understand that. anna: absolutely. let depends on how negative it was when you traded in and how negative it is when you traded out. theme ask you about election in the united states and what that does to the curve you are looking at stateside. do we see a sort of textbook reaction to a changeover in power if that is what we get, or is there no book anymore, so strange are the times we are living in? michael: the textbook didn't do very well in 2016. having said that, if you look at history, typically when democrats take power, in particular if they get control of both h

kailey: michael mckee, to employment. what is the significance of the shift? michael: they are making unemployment much more specific part of the policy procedure. for the last 20 years or so, it has basically been based on the idea that in price stability, the 2% inflation target was how you should manage policy, you would set your target rate based on where you thought inflation was going. because they believe inflation dynamics have moved and will move slowly, they will set policy based on where they think they can get unemployment to. they will have a target, something like the idea that you get to this level and prices will start to rise, but it will be lower. they will let inflation run for a while, rather than reacting when it starts to rise, if they

michael and rachel, thank you both for taking the time to join us this evening. first of all with the front page of the guardian. exodus from france in a bid to avoid quarantine. we are now seeing as we speak, thousands of holiday—makers and travellers coming back to the uk. probably a lot earlier that they wa nted probably a lot earlier that they wanted to, michael. not a massive amount of notice from the government. no, there wasn't. last night when the message went out there was a message on twitter from grant chaps. they also blamed him for some confusion as well as some people thinking they did have till aam on sunday rather than tomorrow morning. i think he may have misspoken in an interview. being a little bit uncharitable there. we did know that this was kind of coming, unfortunately for that there has been taking up, the infection rate in france. they had their biggest infection rate, daily rate since lockdown had been eased yesterday. it‘s not been a huge surprise. but peoplejust yesterday. it‘s not been a huge surprise. but people just wanted a h

thank you, michael. >> go blue, michael. >> thanks, guys. good to see you. go blue. >> if you or someone you know needs help, you can find resources at cnn.it/covidmentalhealth. first, top of the program, we asked you this question. do you think schools should reopen? if you had kids, would you send them back and why? the majority of you, so far, have leaned against school opening. you will see some of the responses at the bottom of your screen, starting now. also, the bottom of your screen, you will see questions about covid that people are asking. joining sanjay and me to help answer the those questions, dr. leana wen, emergency room physician. i just want to note, at the top of the broad contact, cast, we picture of a very crowded school in georgia. we just learned two students were involved in taking those pictures and putting them on twitter, i believe it was. according to "the new york times," one of those students has actually been suspended for taking the picture. and for putting it online. and, which i just find extraordinary. that -- i mean, i gues

right why appreciate you keeping an eye on that one for us michael we'll get back to you on that michael maloof thanks again for your time on the big picture pleasure now an update on an important story we've been following closely here on this show and elsewhere on our t.v. corporate cutbacks are clobbering local news media and a while back we introduced you to digital news pioneer kate nagel who is news editor at upstart goal local prov dot com making waves here in the ocean state and she spelled out the dilemma that print media she's challenging face. does it really make sense to have barrels of ank on slabs of paper going through machines that have to be that have to be stored and that have to get put on trucks that have to be driven around and dropped off. you know the once proud providence journal had a weekday circulation of 200000 that's down to about 30000 wow ouch and as legacy media ticker with their business model the online paywall confronts consumers accustomed to getting information for free on the internet the problem as stated by a cautionary column and current affairs i

michael dowse. if there is a glass court, there is a certain ball, or a clay court, there is a certain ball, and then there is hard court tennis. wilson and michael dowse have on that for four decades. you use wilson tennis balls and nothing else. he was so good at it the united states tennis association dragged him into their combine to keep tennis magic going. we are thrilled michael dowse could join us. the background screaming every third head. congratulations on keeping it going. what have you learned from the other sports about what not to do in this u.s. open? michael: not to take it lightly. thanks for having me on the show. it is true the court is hidden away, hopefully it is not too noisy. what we learned is we have to take this serious and never take anything for granted and have great partnership and teamwork with the federal government, the city of new york and the state government. a lot of moving parts and we have to pull this together to ensure a safe and healthy tournament. tom: the