Joining us this hour. Heres an interesting thing. Sort of a personal thing, but also a news thing. Right before President Trump was impeached the first time, i published a book called blow out and the weird surprising to me thing about blow out is that tended up being oddly well timed. I had no idea it was going to be well timed when i set out to write it, but thats how it landed. It was a book about the Oil And Gas Industry and the political power and geopolitical power of that industry. And a big chunk of that book was about all of the craziness and Corruption In Ukraine. And of course, then, right at the time the book came out, all the craziness and Corruption In Ukraine ended up being the setting, like the Playing Field for what President Trump got impeached for the first time he got impeached. I did not intend it to land that way. It was fortuitous and i hope helpful to people trying to figure out that landscape while we were looking at that first impeachment. Now, of course, mr.
Well timed. That is how it landed. A book about the Oil And Gas Industry and a big chunk of the book was about the craziness and the corruption in the ukraine. Then it was the playing field. I didnt intend it to land it that way. Well, now of course mr. Trump is being impeached for a second time. And it is kind of uncanny, a lot of the things that i wrote about in the book that came out in the first trump impeachment. The whole reason that i wrote the book is because we were consistently underestimating the sway of this one industry. How much sway it has over politicals and governments here and around the world. I thought there was a need for a explainer and how the industry could explain. If something is happening that does not make sense on the surface it helps to look at the industry and see if they are maybe The Hidden Hand, when politics fail or governments are bad. This is a place to look. One thing to say here is the hidden power that is making it possible or impossible and call
All about the craziness and Corruption In Ukraine. And of course, then, right at the time the book came out, all the craziness and Corruption In Ukraine ended up being the setting, like, the Playing Field for what President Trump got impeached for the first time he got impeached. I did not intend it to land that way. It was foretuittous, and i hope, helpful to people trying to figure out that landscape while we were looking at that first impeachment. Well, now, of course, mr. Trump is being impeached for a second time, and its kind of uncanny a lot of the things that i wrote about in that book that came out during the first trump impeachment. Theyre sort of coming home to roost now. The whole reason i wrote that book is because i think we were pretty consistently underestimating the sway of this one industry, how much sway the Oil And Gas Industry has over politics and whole governments, both here in the United States and around the world. And so, i thought it would be helpful. I thoug
Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy report
Inflation and pmi. A brutal bond selloff. Called it here on the show yesterday. Yields up seven basis points. Time now for the global exchange, where we bring you todays market moving news from all around the world. Joining us from hong kong is bloombergs stephen engle, from , and london, tadeo guy johnson and dani burger, and in washington, kevin cirilli. In hong kong, protests are intensifying. Stephen engle joining us for more. What can he tell us on the ground . Whats happened . As you can see over here stephen as you can see over here, police have formed a line. There have been some sharp words between officers and people on the mezzanine level looking down lotsthem, keeping lots of of swearwords in cantonese going back and forth. This is a cleanup operation by the police after what was a very raucous national day celebration, if you will, or commemoration of the national day in china. Here it is a very different feeling as protesters, tens of thousands of them, came onto the stre