The press the Mainstream Press what we were we were accused of talking about heterodox economics when we pointed out that the phrase financial repression is just a euphemism for stealing and people say well its the debts heterodox economics you know say the c. And b. C. Or a. B. C. Or n. B. C. Or b. B. C. Because its not orthodox its not what all of the elite in the economist who go and get their doctorate from universes chicago is not what they think right now the heterodox are becoming mainstream because of this phrase called financial vandalism so people are out right under recognizing the fact that the policies of in the Interest Rate setting whether there are 0 or negative its about transferring wealth up its about moving trickle up financialization where the bulk of the economy is earnings go to the top 110th of one percent now i have often used the phrase financial terrorism that will probably become in vogue in the next 6 to 12 months weve said that we have. Global empire of de
Heterodox economics when we pointed out that the phrase financial repression is just a euphemism for stealing and people say well its the deaths heterodox economics you dont say the c. And b. C. Or a. B. C. Or n. B. C. Or b. B. C. Because its not orthodox its not what all of the elite in the economist who go and get their doctorate from universes chicago is not what they think right now the heterodox are becoming mainstream because of this phrase called financial vandalism so people are out right under recognizing the fact that the policies of in the Interest Rate setting whether there are 0 or negative its about transferring wealth up its about moving trickle up financialization where the bulk of the economy is earnings go to the top 110th of one percent now i have often used the phrase financial terrorism that will probably become in vogue in the next 6 to 12 months weve said that we have a global empire of debt and. That is its currency its the us dollar since 1981 weve had no gold
Francine welcome to bloomberg surveillance. These are the markets. The stoxx 600 gaining a touch. The u. S. 10 year yields going to around 2 . Deutsche bank after the massive overhaul gained one point 7 . We did have a little news out of the german Industrial Production data. Bit of gaining a little temper on some of these markets. The market is going toward 2 . Coming up, we heard from the associate general chairman, what he had to say about the fed, ecb, and more. Lets get to the bloomberg first word news. The lira swamping after president erdogans decision to replace the countrys central bank chief. The dismissal has fueling concerns over the regulators independence. In a meeting, erdogan reportedly told policymakers to get behind his conviction that higher Interest Rates cause inflation. This morning, greece has a new Prime Minister from the right Democracy Party. The election handed him a mandate to tackle the nations chronic woes. New democracy is set to get a perlman treat major
Were close to setting a record for Second Quarter and they did that here are the important numbers people are focusing on this afternoon. Total deliveries at 95,200 the model 3 numbers, this was what everybody was focused on of all of these, 77,550 for some context here, wall street expected 74,100 so they blew past that number. Model s and x stronger than expected, coming in just over 17,000 theres good news regarding the backlog. In the release, tesla says orders generated during the quarter exceeded our deliveries, thus we are entering q3 with an increase in order backlog. Elon musk said for sometime theres not a demand problem now theyre saying there really isnt a demand problem we are seeing an increase in the number of orders that are out there. This is the chart that shows the increase in model 3 deliveries remember how it fell off in the First Quarter . Thats what sparked everybody saying, look, there might be a demand issue here, why are they not fulfilling as many deliveries
Central banks are a primary focus, an seen the initial focus this week. Ecb mario draghi is due to address people in sintra in just a moment well stay tuned for that piece coming up in a short while the Federal Reserve is expected to keep Interest Rates on hold at its twoday policy meeting that begins later today. Invest and economists said there remains a high likelihood of a rate cut later in the year analysts from bank of america, jpmorgan and bmo forecast the cut in September Jpmorgan and bmo said they also expect another move in december. Goldman sachs and citi, they dont agree with the assessment. They say their best case is that the fed will take no action at all in 2019. Theyre calling for a cut in june, so thats tomorrow well see what happens here in europe, the ecb flagged it will postpone any rate hike until the middle of next year. Low inflation has hampered the eurozone in recent years and the central Bank Launched a fresh round to boost the central bank. Annette joins us