Vix at 16. Jpmorgans point this morning was typically, you have the s p down two plus maybe a dozen times since covid. Couple of those were in the depths of covid but generally, its when the vix was about 20 unless we get a shock, maybe the selling is going to end soon if youre looking for why today, theres a slew of reasons. Started overnight in china with weaker Economic Data across the board even though we got a rate cut there, which should be supportive top data in the u. K. And in the u. S. , the data was mixed retail sales, a lot stronger but markets quit trying to figure out whether good news is good or bad news is bad because it keeps the feds hiking rates higher for longer that 1 control group number that feeds into gdp, thats something people were talking about for a monthly gain that was double the expectation and signals the consumer is still in good shape even though we got new York Manufacturing going back into negative territory and showing a lot of pain there you see go
He saw the introductory video. You do have an idea but i love to do a state of the union on how square is doing and usually had a pretty positive Quarterly Earnings report, your stock is up 96 yearoveryear and are starting to make money on things like peer to peer payments. How much are you processing the monthly . Monthly, i dont believe we give up those numbers you can give it out now if you like to i could but i wont. [laughter] since you started square nearly a decade ago, nine years ago, what has been the most significant or surprising change you have seen happen in the business . In our business or the industry . Both. When we started we were having an offsite today and tomorrow and weve been discussing a lot of the companys history and where we are going and one of the things that we started with was we were trying to solve our competitors problem which was he cannot accept credit card. We got fixated on building little device that you can plugin to his smart phone so you can ac
Parliament holds its final vote on Prime Minister mays legislative program. This is bloomberg surveillance. S happenay. Theyre rising for the first day in three. Investors shrugging off the prospect earlier of the prospect of higher Interest Rates. Stocks have inched lower in the last few minutes. The euro continuing its upward movement against the dollar. Draghi bolstering bets that the ecb is preparing to unwind. Sterling gaining for a sevenday. Best run since april 2015. Mark carney says the Monetary Policy committee may need to begin removing stimulus. Crude oil gaining for a sixday. U. S. Crude production easing pressure on opec led efforts to drain this global glut of oil. Lets get to the first word news. Banks haven announced larger than expected payouts for investors. Jpmorgan, citigroup and bank of america led the way and unveiling plans to boost stimulus and stock buybacks. It is the first time every lender has cleared the regulatory hurdle. Shares across the industry the tru
Today i will be talking to professor lisa servon from university of pennsylvania and author of unblinking of america that was just released this month. Thanks for having me. Host why did you write the book was written for . Guest i rode it because i could not understand originally why alternative financialservices like payday lenders why so many people were using them in the course of my research i learned that banks were not serving the lowend and i also realize there were some good alternatives coming on board part of the first book i have written that is not academic eroded for the policymakers, those working for financialservices industry and you and me that may not be happy with the financialservices theyre currently using. Host what do mean by alternative Financial Service providers blacks what is that and why is it called alternative . Guest ic consumer financialservices industry into three components one is a mainstream component the second is alternative checked cashiers or pa
If you lead with an issue, lead like you have conviction, you can get peoples attention. Its amazing. Thats why sometimes i shouldnt say this on the air i fantasize that maybe joe shoot all the Political Consultants because they dont understand how you get a message across in a way that the American People can grasp and say, yes, this is the way we should go. Host you have been talking about the flat tax for a long time. Your second book what flat texas resolution. Your moe recent book is reviving america. What is a flat tax. Guest it takes the current code, get rid of it. A couple years ago the taxwriting committee in congress, tried to rationalize the current code. The bill came in at 997 pages, which tells you all you need to know. So bury the tax code but the epa may not allow it, its so tox. But throw away the code, put in a sinkle rate. We friend the book 17 . General his exemptions for adults and children, nobody gets a tax increase in this thing. For example, a family of four,