Space. Oil getting a bit of a reprieve. The concern is you have even more oil flow if the opec deal comes to an end. We want to get you todays market moving news from new york as well as washington. We want to start with the latest pmi data. Factories around the world suffering one of their grimmest months on record in march. Fbloombergs Michael Mckee joins me for more. Theres a lot to dig into. Give me some of your takeaways here. Michael mr. Rogers word of the day is contraction. Across the developed world, they are pretty bleak at this point. Some of them not as bad as thought because of a quirk in the data, but lets go through the data right now. Anybodye hardest hit of i the virus, and now the hardest hit in terms of the pmi number. Eurozoneance, germany, u. K. Are also in the 40s, which marks contraction. New orders of production crashed, but there is a quirk in the data where supplier delivery times are linked. However, in this case, there are no supplies to deliver, so it makes
Fed started in 2009 after tim geithner left until 2016 and before that he was with Goldman Sachs for about 2025 years the fed shouldnt enable donald trump you know trump isnt a trade war and thats why bill dudley responded to this is like this trade war with china is crazy we shouldnt cut rates in fact we should raise rates if anything hes almost suggesting anything to get rid of trump like we should overthrow the guy well trumps new trade war tool might just be antique china debt collectors of pre communist debt are lobbying the white house to force beijing to pay up president Donald Trumps next move in an increasingly fraught trade war with china could be one for the history books literally the trumpet ministration has been studying the unlikely prospect of reviving centuries old claims and chinese bonds sold before the founding of the communist peoples republic this was a 1911 and it was used to fund the construction of a rail line between hunk who won and once the communist revolut
A few months globalization the dollar is a shoe right so the loss of western germany that steamy globalization this came in with trump in 2016 that he the idea of monitor is ation the global Central Banks cooperating to put out a currency unit of account that was better than gold is a 6070 year experiment that is now collapsing which is leading to d. Dollars ation as b. Countries like russia move aggressively away from the dollar and buy gold and dig globalization simultaneously as far as these chinese debts that were issue 19 a leaven or 99911. 00 and are now being sought after for for repayment i would imagine what would happen is that simply u. S. Will default on some bonds to china. Approximately a trillion dollars worth and claim that well were just making good on the debt say you owe us to use to justify a default again dollars ation. Well yes there are some weird people involved some crazy texan sort of pastors and stuff like that and they are encouraging that they are claiming
Imagine what would happen is that simply u. S. Will default on some bonds to china. Approximately a trillion dollars worth and claim that well were just making good on the debt so you owe us to use to justify a default again de dollars ation well yes there are some weird people involved in this some crazy texan sort of pastors and stuff like that and they are encouraging that theyre claiming that with inflation an Exchange Rates in history that is actually worth a trillion dollars with by the way happens to be how much debt that china owes that owns of the u. S. So they own a trillion dollars with the treasuries and like lets just cancel it out but you mention the localization and for thousands of years weve gone through globalization and then d. Globalization globalization d. Globalization weve weve gone through these constant cycles humans constantly do that assistance we do this in markets that. Why Technical Analysis and sort of that sort of thing also when you look at the history
For some quite the same to accuse a particular country the latest on these stories you can head to our t. V. Dot com kevin owen he is coming in about 59 minutes from right now but in the meantime stay with us for the Financial News in the. Or this is the kaiser report where in paris you know so many people referenced the mary antonov quote let them eat cake and then you know historians have gone back and they said you know its actually my cake its brioche brioche you know that so i brought in actual poem my god what a mess we brought in actual brioche this is a brioche for the sliced there at the patisserie and so this is what she suggested that the peasants this should be eating because they had run out of pan you say this is a brioche is a slice of the nicer version of pan theres a few in the cupboard lets throw that to the peasants and maybe theyll shut them up but. I believe there had been a wheat disaster because of the. Volcano and i in iceland had blown and caused bad weather ye