A huge weight of growth that simply cant be sustained indefinitely and thats whether by the students themselves coming on board well by the windows its a huge increase in the private debt load on the economy and its falling on the people who earn the least money and its setting them up for being able to participate in the rest of the economy life which is also driven by did so i think is one form of it is going to basically a. Student debt is going to make it impossible to keep boosting Household Debt so the Financial Sector is eating itself im so old i remember the 2008 financial crisis and if you recall the sub prime debt bubble up and we have this global meltdown the student debt is already bigger than the subprime debt bubble. That was about an on trillion dollars when you look at it went from 6 to non trillion between about 22000. 00 and fog so were not talking the same sky loving christian debt were talking they did go on turning in income and then when they graduate they grudge.
We want to tree we want to be transparent thats our nature our nature also does get restricted by maff and usually declining empire does not like globalization so much because they no longer when america is no longer winning back in the late late 1800 and early 1900 of course the United Kingdom was a great empire and it started to lose the trade. Global trade didnt favor them as much as it was favoring others so i think china definitely wants globalization because theyre the rising power they like trumps bluntness whether or not you yourself or anybody in the audience or any voter likes trump or not what im saying is that he keeps tweeting hes signaling not only to his potential voters but also to the chinese negotiators that hes easy to read at the poker table that is global trade because these are the. And theyre used to dealing with this honest politicians everywhere around the world and at the u. K. Of course they decided to get out of the global was ation a while ago but theres th
What does that mean . Hello and welcome to bloomberg daybreak asia. Im haidi lun. Betty i am betty liu at the mobile headquarters in new york. Weve got one i clearly watching what is happening in the korean peninsula. In the meantime, we are watching what is happening here in tax reform and u. S. Markets. It looks like tax or formal possibly passed by the end of the year and markets will move higher,. I want to pull up a chart that shows perhaps a little bit of a warning sign. It just shows you the valuation of snp stock versus the euro stoxx 600uro companies. You can see how the valuation so muchinues to widen, so that it has some investors saying even if stocks rally, maybe there is better value in other parts of the world, particularly europe. Maybe it is europes time to shine next year. Haidi absolutely. It is interesting, this idea of momentum and sentiment driven rally we have seen. Haveore record highs we seen overnight as we get closer to closing out the year. Usuallyet period
Following yesterdays rout john ferroli and dan sculley join us. Happy friday to you both a lot of debate this morning about the jobs number, and the degree to which it tilts the macro debate whats your take its more of the same, which is strong job growth, low unemployment, but disappointing wage numbers which is the story weve seen a bunch of times over the last year or two i dont think this does much to resolve the debate growth looks good. The question is where inflation is going the wage numbers dont scream out that theres a whole lot of inflation worries for the nrt nearterm. Dan, do you agree how long can that dynamic last i would say we had solid news in particular in the manufacturing jobs sector this morning. We may continue to see that as we get infrastructure announcements into january potentially some changes in capex trends as we have fiscal tax reform and tax changes the broader takeaway for our team is that were seeing a rate of change inflection in job growth going back
Reaction. Plus on media week selloff, subscriber losses, advertiser declines weighing on companies. And the morning after well recap the gops best debate moments last night, the big winners and the losers. First up, the jobs number. The u. S. Economy added 215,000 jobs in that month. Unemployment remains unchanged at 5. 3 . Weve been watching wage growth average Hourly Earnings up by five cents. Thats about 2. 1 on the year. Just a smidge below the estimates. The Unemployment Rates, 5. 261 is not far from being rounded down to 5. 2 . Coming into this, i think a lot of, you have this core set of economists saying you dont need a strong number. You need a weak one to put it back. The interesting question for the next couple of hours is how many stock Market Participants are there with those economists that a rate rise is coming. If theyre not there, notable monitors of sentiment, if theyre not there, if they make that transition, what will that mean for the stock market over the next mon