Bloomberg television. We welcome all of you. Lisa abramowicz and i in new york and mr. Ferro in london. Jobs report tomorrow. We are going to do a spacex launch supposedly in 45 minutes. You know what i need from you . I missed you so much. I need a tots update. They are dealing at tottenham, no question about it come with what is going on. Have they finally lifted themselves into the final four . The big clubs, but weve experiment within the United Kingdom is having the fans back, just a few, and trying to work out what capacity we can push that story. Maybe as the League Starts again in the next couple of weeks, hopefully we can build on it through the season. Tom i will say this, and im not kidding, nobody has done it better thans the premier league. The jobs report is a grim number. Jonathan and it speaks to the economic pain. Perspective really matters, and that is what i got to weeks off. You saw more layoffs coming from cardirlines, some Credit Companies putting limits on Consum
Stuff. And it wasnt just americans who were in the situation but so too were our trading partners around the world. They didnt have enough income to buy all the commodities we were producing in our fields and all the wonderful things our factories were making. So by the end of the 1920s the American Economy went bust. You all know the stock market crashed in 1929 and the World Economy went bust as well, a worldwide economic depression set in that lasted between 1929 and wasnt officially over until 1942. What was called the Great Depression could be considered a crisis of abundance. It brought attention to purchasing power and in doing so it ended up politicizing consumption. We talked a lot about how consumer culture rose to be at the very center of american culture. And i keep telling you we need to consider politics, and today is the day we will think about how consumption became plit politicized. So heres a graphic that typifies the usual story that historians tell about the Great D
It. Of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. Here in europe, also waiting on the latest developments from jackson hole. Just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. Tom 120 Miles Per Hour maximum wind, but the landfall of 160 was extraordinary. The shape of the storm has changed as well. With our first word news in new york, here is ritika gupta. Ritika good morning. It is one of the most powerful storms ever to hit louisiana. You were just discussing hurricane laura, it made landfall near cameron, louisiana with maximum winds of 150 Miles Per Hour, plus there is a threat of a catastrophic storm surge and flash flooding. There is concern that damage could leave areas and uninhabitable for months. It will also shut down a third of the regions Refining Capacity. Winds have died down but laura is still a categor
It was also what came out of pmis. Taylor we had great pmis data. Really showing a divergence between the pmis that you were looking at out of europe where that recovery now seems installed. Most of the analysts said the pmi in the u. S. , dont take us one piece of data as the endall beall, but coming in higher than expectations and that existing home sales data, huge, not only talking about the move to the suburbs but the prices and demand, really something that shows the Housing Market not only in a recovery, but booming. Caroline we were hearing about the potential in real estate and diversified assets. Talk to us about those bets you are making. Where are you looking in that area . Christopher private equity is slow right now. There are not a lot of transactions. People cant travel and do their due diligence. The estate, we are on commercial side, not the residential. What is the value of a mall right now . The departments remain strong. The Office Market is uncertain because none
Most countries who believe its a great promise, a great opportunity and some of the u. S. Media, some of the u. S. People who are wagging Information Warfare on russian vaccine we were not expecting anything else we are not trying to convince the u. S. White House Republicans and democrats blame each other for the impasse over a multitrillion dollar rescue plan as early futures point higher. President ial candidate joe biden chooses Kamala Harris. President trump is quickly on the offensive. One of the reasons it surprised me, she was very she was probably nastier than even pocahontas to joe biden she was very disrespectful to joe biden. Good morning let me take you through some of the Market Action were witnessing on the boards today it has been a bit stopped on the board. Investors here just picked up on some of the caution that we were witnessing on wall street as that market wrapped up sharp effectively a lot of the design is the impasse on washington negotiations republicans and d