Now, georgescu has a new mission. Having seen the worst socialism has to offer and what capitalism at its best can mean for those in need, hes urging corporations to return to pursuing the best for all their stakeholders shareholders, workers, customers and society at large. On todays big decisions, Peter Georgescu. Welcome to bloomberg big decisions. Great to have you here. Socialism these days. It strikes me you have a personal experience with socialism going way back in your childhood. Tell us about it. Peter well, i was prepared for socialism by being born in just as the Second World War started and i arrived in 1939 just as the war got to be big and real. I was born from romanian parents, both of them, one educated in london. My father became a petroleum engineer, came to romania, became general manager of the Largest Oil Field in romania which is owned by standard oil in new jersey. Exxon. The germans came into romania and the nazi supervising regime put him in jail. My father wo
0year, we probably have to be looking at a global recession. We are going to test 1 . A lot of things would have to go incredibly wrong to get the 1 . You have to have a recession to get there. The u. S. Economy could go to recession. Unless the market begins to price an additional cuts, the 10 year at most will drop down to the 160 range. The fed will have to ease again. The fed is going nowhere. If there is any sort of weakness in the data, you will see an outsized rally in bonds. Jonathan joining me, kathy jones, george bory, and in chicago, jim bianco. Jim, lets begin with you, looking out to 2020, it seems the consensus view is for rates they are or go lower. Where you come down in that debate right now . Jim i think thats probably right. Rates will probably drift lower. Thats been the story the last 10 years. Weve had no inflation, we are in a record expansion, we cannot generate any inflation right now, rates are down 75 basis on ts this year, at least the 10year yield. The path
David i dont consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . People say that running an airline is not an easy thing to do. You have weather to deal with, Energy Prices to deal with, lots of employees and so forth, but you grew up in a family of nine children. So what is easier . Growing up in a family of nine children or running an airline . Ed running an airline, certainly. Our family was great. I am the oldest of nine. And i was sharing with david earlier that when i was five years old, my mom we already six kids in the house, so nine kids sharing three bedrooms. One and a half baths. My dad was a dentist and had his practice inside our house. My mom worked for him. And so it was david wasnt that busy a practice at times, i guess . Ed he must have had some gaps in his
10 places to work. Doc you sign makes the glass door lift. We will talk to the doc you sign ceo about what makes the company so unique. Transportation, the self driving semi makes its first commercial freight run. We will hear from the company who performed this feet. Silicon valley is listening to your most intimate moments. It is the focus of a Bloomberg Businessweek indepth piece about how the Smart Speaker craze lets left users vulnerable to their conversations being transcribed. It was one of their most read stories wednesday. I spoke to bloomberg journalists about the story, including the devices, and use of contractors to transcribe intimate conversations. Lets hear from new york and San Francisco. We spoke to dozens of transcribers and contractors. Everywhere from ireland to india. They had ethical quandaries with the service. They were eavesdropping on a lot of siri alexa customers in order to improve the systems speech recognition by transcribing recordings we submit to the c
We start with the gender pay gap because campaigners here in the uk are calling today equal pay day. They calculate that from today, because of the pay gap with men, women are effectively working for free for the rest of the year. The Fawcett Society which does the calculations each year says there has been a slight improvement on 2018. But female full time workers earn on average 13 less than their male counterparts. There is high level support for change. A group of 100 top uk businesswomen including former royal mail boss dame moya greene, Dame Minouche shafik the favourite to take over at the bank of england and glaxosmithkline boss Emma Walmsley want a change in the law to give women the right to see how much male colleagues are earning. The gender pay gap is a lot worse in many other parts of the world women are paid 32 less than men on average according to pay data gathered by the World Economic forum across 149 countries. But campaigners here in the uk have long argued there ne