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Speaker 2: back to the FED right now? Julia Cornado's perfect to
Speaker 2: do that. President of macro Policy perspectives a major duty
Speaker 2: at BMP Perry Bay in the trenches of the financial crisis.
Speaker 2: Is well, Julie, I've gotten off the beat. Does the
Speaker 2: economic data this week?
Speaker 3: Game change? A data dependent FED?
Speaker 4: Probably? Game change is too strong because they're meeting next
Speaker 4: week and we already know that they're not going to
Speaker 4: do anything, but they are going to give us some guidance.
Speaker 4: They are going to give us a new forecast, and
Speaker 4: they're going to we'll get a press conference, and so
Speaker 4: it might help set the tone as to you know,
Speaker 4: when we heard from Chaer Powell last week, he said,
Speaker 4: it just needs a little bit more, just a little
Speaker 4: bit more progress to confirm they're on the right track
Speaker 4: and build their confidence before cutting rates. That doesn't sound
Speaker 4: like a very high bar, but if we get a
Speaker 4: setback in inflation, he might sound a little you know,
Speaker 4: more on the stern side us versus on the hopeful side.
Speaker 2: And now your inflation report for the day, and that
Speaker 2: I followed carefully. The loadstone of my house, which is
Speaker 2: a price of dog food. You know what it costs
Speaker 2: you what it cost to do vet Bill and Kennell
Speaker 2: fee up with a proper fancy upper east side dog
Speaker 2: food has gone from twenty eight dollars to forty four
Speaker 2: dollars over a good five to six pandemic years as well.
Speaker 2: Juliet Coronado an update from doctor Coronado on the CPI.
Speaker 4: Look, we have made a lot of progress, but in
Speaker 4: the first quarter of the year we often get some
Speaker 4: firmer prints. We saw that in January. We are going
Speaker 4: to see probably a little bit more of that tomorrow
Speaker 4: in the February report. We're looking for a point three
Speaker 4: on core. That would still bring the annual rate down
Speaker 4: a couple kits, but it would lead the three month
Speaker 4: annualized rate up, So it would be kind of neither
Speaker 4: here nor there. I think in terms of the FED,
Speaker 4: it would not be particularly worrisome because you know, year
Speaker 4: on year, we're still making progress, but it would all
Speaker 4: also say there's no rush. And then you take that
Speaker 4: with the Friday employment report. You know, I think that's
Speaker 4: going to matter more Tom, the the jobs data. If
Speaker 4: that shows signs of you know, the perfect goldilocks labor
Speaker 4: conditions are starting to cool off a little bit, that
Speaker 4: might give the FED more urgency versus if that continues.
Speaker 4: And I would say Friday's employment report it was a
Speaker 4: mixed bag. You know, the jobs number was strong, lots
Speaker 4: of downward revisions, and a pretty notable uptick of the
Speaker 4: unemployment rate. So you know, I think they're kind of in,
Speaker 4: you know, where we're getting closer to where those risks
Speaker 4: are getting balanced.
Speaker 2: And we'll talk about this on my podcast out now,
Speaker 2: Single best idea look for that.
Speaker 3: Later this afternoon, I'm going to talk to.
Speaker 2: Doctor cornetto about annualized three month annualized twelve month annualized,
Speaker 2: six months annualized.
Speaker 3: This, I know is foreign to you, Damien. Annualized is
Speaker 3: very analzed thing.
Speaker 5: Well, here for me show I mean, for me, it's
Speaker 5: not just about it's not just about inflation in the US.
Speaker 5: It's about inflation abroad. I mean, this week we also
Speaker 5: see Brazil, Germany, India. I think at the end of
Speaker 5: the week we see France, Italy, Poland. I mean, Julia
Speaker 5: talk to us a little bit about inflation dynamics outside
Speaker 5: of the United States.
Speaker 4: Well, that's an excellent point. I mean, we have seen
Speaker 4: progress globally, and you know, it's sort of widely thought
Speaker 4: that China is now a disinflationary force, given how much
Speaker 4: how lackluster their growth is and how much capacity they have.
Speaker 4: So globally, you know, we are actually in a much
Speaker 4: better place than we were this time last year. And
Speaker 4: it is across you know, across regions. So again we're
Speaker 4: not back down to pre pandemic, but we're certainly moving
Speaker 4: in the right direction. And most central banks, not just
Speaker 4: the FED, with the exception of the BOG of course
Speaker 4: always the outlier, but ult central banks are considering moving
Speaker 4: off a very high spot rate. So that you know
Speaker 4: in acknowledgment of some of this progress.
Speaker 5: Well, Julia, we also see inflation data out of Sweden
Speaker 5: on Wednesday, and as we know, the RIX Bank might
Speaker 5: be the very first developed market central bank to move.
Speaker 5: I think the market's present pricing is something like a
Speaker 5: sixty percent probability of a move by may you know,
Speaker 5: forget about inflation though, I mean you mentioned Japan. I
Speaker 5: want to talk about Japan and what we're seeing in
Speaker 5: Japan ahead of this March nineteenth meeting. What do you
Speaker 5: expect there?
Speaker 4: Well, you know, look, Japan has been both kind of
Speaker 4: gradually pivoting away from its ultra easy stance, but very
Speaker 4: very patient in doing so. So yeah, so, so you know,
Speaker 4: will we will we actually see a move? I am
Speaker 4: not the Bank of Japan expert. I think it's you know,
Speaker 4: they're going to keep evolving and rotating. Whether this is
Speaker 4: the meeting, that's that's I'm certainly less component to put
Speaker 4: a stake in the ground on.
Speaker 3: That, right, Julie.
Speaker 2: I take it back to the data this week in
Speaker 2: retail sales, the consumers sixty eight sixty nine seventy seventy
Speaker 2: eight percent in my household of GDP is is well,
Speaker 2: tie in your GDP call right now with the actual
Speaker 2: retail sales statistics three month annualize that we've.
Speaker 3: Been seeing, the consumer is buoyant. Am I right?
Speaker 4: Well, we saw some retrenchment in the January retail sales.
Speaker 4: Remember we saw a decline in core retail sales. I
Speaker 4: would say consumers have really kind of gone back to
Speaker 4: their pre pandemic norms in the sense that they're spending.
Speaker 4: They've got jobs, they've got income, and they're spending. But
Speaker 4: what we hear, what we see in the inflation data,
Speaker 4: what we hear anecdotally the Fed's Beige Books certainly shows
Speaker 4: it right right. The consumers are price sensitive again. They
Speaker 4: want to deal, Tom, they want to deal.
Speaker 2: Okay, Julie, I'm running out of time. I don't mean
Speaker 2: to be rude, but the it's root Monday in RESI,
Speaker 2: doctor Cornado, is you're coming in with like a two
Speaker 2: percent real GDP and you pop on disinflation and all
Speaker 2: of a sudden, are you modeling out a subpart nominal GDP?
Speaker 4: You know, Actually, we're kind of optimistic on the productivity
Speaker 4: side of things, so we actually do think that this
Speaker 4: productivity rebound is not just a one off that it's
Speaker 4: a better trend this cycle. So we've got GDP running
Speaker 4: around two percent with a FED funds rate at five
Speaker 4: and a half percent. That's not too bad, right, And
Speaker 4: it's also the beauty of it is that it's non inflationary.
Speaker 4: So this is solid growth that isn't necessarily inflationary that
Speaker 4: brings nominal GDP slowly gradually back down to the four
Speaker 4: and a half five percent zone, the sweet spot where
Speaker 4: the Fed wants to see it. I think that's where
Speaker 4: we're heading in the first half of this year.
Speaker 2: Yeah, I was watching the Oscars last night, Julia, and
Speaker 2: the answer is, nobody's on speaking terms.
Speaker 3: Are you in Constance Hunter? And speaking terms? Is it
Speaker 3: working out at macropolicy?
Speaker 4: And I speak all the time? Really, we taxed, we speak,
Speaker 4: we zoom, we do it all Tom all the four
Speaker 4: Very good.
Speaker 2: I saw a Constance Hunter with the Consul on Foreign
Speaker 2: Relations the other day. Good to see macro policy perspectives
Speaker 2: out on the streets of New York.
Speaker 3: Julia Coronado there right now, and this is great.
Speaker 2: It's sort of like the week after the employment it's
Speaker 2: a little less there's some economic data this week, but
Speaker 2: it's time to just like reassess the markets.
Speaker 3: We did that with Brian Nick, with Francois Trahan and
Speaker 3: now joining.
Speaker 2: Us Michael Purvis of Tall Back and as well Damien's
Speaker 2: got You know, folks, you got to see this in
Speaker 2: the studio. You really can't see this on YouTube, but
Speaker 2: you know, it's like Blomberg Business of Sports. You're worse
Speaker 2: than Scarlet's bring in like thirty pages of notes.
Speaker 6: I do, and I highlight everything. I'm a very big
Speaker 6: young The only note.
Speaker 2: I have is my coffee and donut message. There go, Lisa,
Speaker 2: thank you. I mean look, I mean it's like Lisa's.
Speaker 3: Taking a photo here for social of your When are
Speaker 3: you doing this during the weekend?
Speaker 5: I mean no, Actually I tried to wake up early
Speaker 5: on the Monday morning. Okay, have a cup of coffee,
Speaker 5: come in early and get ready to care.
Speaker 3: You're building in purpose.
Speaker 2: But I'm talking to the architect from Columbia first, I mean,
Speaker 2: Michael Purvers. How many people do we have a studied
Speaker 2: architecture in school? What in God's name did they do
Speaker 2: to Central Park South? They got billionaire's row. You get
Speaker 2: this gorgeous tapestry in Manhattan like Paris? Yes, and instead
Speaker 2: we put six seven, eight tall pointy skyscrapers. So Ken
Speaker 2: Griffith can wave to me, yeah, we destroyed the Manhattan skyline, right.
Speaker 7: Do you remember when the Aol Time Warner Building was
Speaker 7: being built, a huge controversy. Look at that building now compared.
Speaker 3: To those right buildings building, the.
Speaker 7: Empire State Building is now looking cute, right, and the
Speaker 7: Christier Building.
Speaker 3: I look in promortion.
Speaker 2: But to you, seriously, to you that have really studied
Speaker 2: the art of this of architecture in Columbia, is the
Speaker 2: solution that we have to build ten more of those tall,
Speaker 2: ginormous skyscrapers to balance it out.
Speaker 7: Apparently someone in the city government decided it was you know,
Speaker 7: I guess it brings in a lot of money and
Speaker 7: it pays other bills.
Speaker 5: But I think, yeah, no, I mean, look, you know,
Speaker 5: we could talk about architecture all we want here, but
Speaker 5: for me, it's all about the architecture of financial markets.
Speaker 5: And within the architecture tom is volatility, which is you
Speaker 5: like that? So I mean look for me, I mean
Speaker 5: I look at volatility, but in all its forms, Michael,
Speaker 5: as you do. You know there's fxvall which is really
Speaker 5: really low. You've got equity ball and equity ball appears
Speaker 5: to be ticking up. And during the break we were
Speaker 5: talking a little bit about some of these ETFs, these
Speaker 5: buy rite ETFs, these these kind of vol embedded ETFs.
Speaker 5: I wonder if you could talk just a little bit
Speaker 5: about what you're seeing there, the flows that have been
Speaker 5: There's been a lot of flows going into that type
Speaker 5: of product. How do you think that's impacting market? Is
Speaker 5: that suppressing ball of current levels?
Speaker 7: Well, I I think it does until it doesn't, right,
Speaker 7: But you know, just as zoom, you know, step back
Speaker 7: for a second. If you look at the rate of
Speaker 7: cash equity volumes over the last fifteen twenty years, it's
Speaker 7: been flat. If you look at the rate of option
Speaker 7: at like just S and P options or all the options,
Speaker 7: it has been growing eight or nine percent every year,
Speaker 7: and then over the last couple of years take that
Speaker 7: up to you know, twenty five thirty percent. It has
Speaker 7: been just extreme. And when you have this huge rise
Speaker 7: of derivatives layered on top of very static cash volumes,
Speaker 7: you're going to get weird distortions to market structure. Yeah. There,
Speaker 7: and you know it was just when it was it
Speaker 7: four years ago, twenty eighteen. Oh my god, six years ago, Jesus,
Speaker 7: time flies where you had the XIV that shortfall ETF
Speaker 7: famously implode, and you know the Vicks the short squeeze there,
Speaker 7: the short of the short if you will, you know,
Speaker 7: it drove the VIX up to like, you know, forty
Speaker 7: six in a heartbeat, right, And I think with all
Speaker 7: these products you have to be aware of them. Some
Speaker 7: of them are actually pretty don't have as much of
Speaker 7: an impact on market structure.
Speaker 5: So I mean, can it happen again? We were talking
Speaker 5: about the dispersion trade. I mean, what would it take
Speaker 5: to get the Vics above twenty?
Speaker 7: Well, I you know, probably it starts that, you know,
Speaker 7: the dispersion trade just you know, it's been working great
Speaker 7: for the last year and a half.
Speaker 5: It looks what is that for audience?
Speaker 7: Yeah, yeah, so.
Speaker 6: Sorry, you know sorry.
Speaker 3: The dispersion trade.
Speaker 7: Is well, basically, it's it's it's it's it's a trade
Speaker 7: that did some option traders put on where you're long
Speaker 7: a basket of single stock volatilities and you're hedging that
Speaker 7: against index volatility, right, and and everything works great because
Speaker 7: you know, like over the last year, you know, you
Speaker 7: think about it like you have a huge dispersion of returns. Right,
Speaker 7: you had the Magnificent seven doing seventy five percent, you
Speaker 7: had the SPX equal waight up fourteen percent. That's a
Speaker 7: that's a recipe for like one stock or one sector
Speaker 7: is going to do well.
Speaker 3: I want to rip up the scripture.
Speaker 2: I just put this out on YouTube on live chat
Speaker 2: because you're expert at this. Michael Purvis on the market structure,
Speaker 2: the distortions of market structure.
Speaker 3: What is the market structure of bitcoin?
Speaker 7: Oh? The uh well, I.
Speaker 6: Think you.
Speaker 7: I was going to make equip that, you know, bitcoin
Speaker 7: going rallies to fresh time highs as it just does,
Speaker 7: doesn't make a sound, you know today, whereas you know
Speaker 7: just a few years ago, you know, would have famously
Speaker 7: broke twenty thousand, and every institutional investor had to have
Speaker 7: in a view on it.
Speaker 3: Is it a market structure or is it contrived?
Speaker 7: I think it's contrived personally. I I don't really way
Speaker 7: too far into the debate, but I do think there's
Speaker 7: a religious element to it, whether it's it's kind of binary,
Speaker 7: I don't I don't, you know, I don't really write
Speaker 7: on bitcoin other than pure technically, and you know, look
Speaker 7: at the technicals have certainly looked better here, whether it
Speaker 7: really you know, there Tom right now, there's there's probably
Speaker 7: a whole bunch of biotech stocks out there that you've
Speaker 7: never heard of that have gone up three acts in
Speaker 7: the last six months or whatever. You know. Like I,
Speaker 7: I do wonder whether whether bitcoin as a mainstream ass
Speaker 7: a class that thesis is is is really behind us. Right,
Speaker 7: So maybe it goes to two hundred thousand, but does
Speaker 7: anyone really care?
Speaker 5: Well, Michael, I mean, you know, I'm an emerging market
Speaker 5: fixed income guys. So because I cover fixed income, I
Speaker 5: like to look at foreign exchange. So let's talk about
Speaker 5: FX fall. And you know, for me, when I look
Speaker 5: at FX fall and I look out at you know,
Speaker 5: you know tenors you know called risk reversals that look
Speaker 5: at six months, one year, it's all about euro dollar
Speaker 5: that's the center of gravity in the FX universe. But
Speaker 5: over the short short term it's been a lot about
Speaker 5: dollar yen. I wonder if you could tell us a
Speaker 5: little bit about what your thoughts are heading into this week,
Speaker 5: heading into next week with the BOJ what's going on
Speaker 5: with dollar yen?
Speaker 7: Yeah, Look, I mean the the end certainly has been
Speaker 7: one of the more interesting cases in the correct As
Speaker 7: you know, Damien one of the more interesting FX pairs
Speaker 7: to be looking at. And I would also sort of
Speaker 7: note if you looked at goldfalls finally started picking up
Speaker 7: with his things, and there is a correlation. You know,
Speaker 7: you look at dollar yen and you look at you
Speaker 7: look at dollar gold and those two and to map
Speaker 7: together pretty well here. And I think, you know, certainly
Speaker 7: some of the gold bulls would argue that there is ah,
Speaker 7: there really is a It feels that, you know, look,
Speaker 7: you're not supposed to be with with with with rate hikes,
Speaker 7: still rate cuts rather still to come, but not coming
Speaker 7: that My god, Gold's playing.
Speaker 3: Purvose expertise. Which is market structure?
Speaker 2: Which is gold is central bank buying versus retail's disinterest.
Speaker 2: That's sort of the zeitgeist out there. What's the market
Speaker 2: structure of the Magnificent seven? Because they you know, they
Speaker 2: pulse on the Bloomberg folks might now Damien is doing math,
Speaker 2: purvis is.
Speaker 3: Expert at this.
Speaker 2: Lisa and I are just looking at the blinky red
Speaker 2: green trying to figure out if there's more red than green.
Speaker 3: It's really scientific. Okay, what's the.
Speaker 2: Market structure of Nvidia or apples, you know, disappointing.
Speaker 3: Here are they working in an normative way?
Speaker 7: Well, look, I mean I think, you know, broadly speaking
Speaker 7: for the magnificent I don't know what do you call
Speaker 7: it four these days? You know, But basically, I think
Speaker 7: after two or three years of massive valuation volatility and
Speaker 7: sort of trying to settle into the you know, where
Speaker 7: the long run interest rates likely to be, I think
Speaker 7: that process is largely behind us. So what I'm saying, Tom,
Speaker 7: is that you kind of followed the earnings growth. If
Speaker 7: the earnings growth is there in a cyclical stock, it's
Speaker 7: going to do well. If the earning growth is better,
Speaker 7: it continues to be outstanding in nvidio it's and video
Speaker 7: will get bid.
Speaker 2: Twenty seconds the Purvios SPX target here with this great one.
Speaker 3: We've nailed it on that.
Speaker 7: Yeah, well look, you know, I officially from December, I'm
Speaker 7: at forty nine hundred. I think, you know, fifty five
Speaker 7: hundred or even higher. I even think that if the
Speaker 7: if the earnings hold up, you could even at some
Speaker 7: point this year touch six k. You won't stay there,
Speaker 7: but I think you could touch it.
Speaker 3: So there we go.
Speaker 6: Do we get that on tape?
Speaker 3: Richie.
Speaker 2: We get that on tape Purvis with the Yardennis six thousand, Michael,
Speaker 2: that was great and international relations, and we've been honored
Speaker 2: Evangelist stent On with us recently on mister Putin. It
Speaker 2: pays to go with people that have decades of experience.
Speaker 2: Aeral Cohen is at the Atlantic Council and very quietly
Speaker 2: has put together a rezumi.
Speaker 3: That is extraordinary.
Speaker 2: You can go back to his book Russian Imperialism, Development
Speaker 2: and Crisis from just a few years ago to really
Speaker 2: get a foundation of his work on what we observe
Speaker 2: out of Moscow. Aeral Cohen, as simply as I can,
Speaker 2: what is the imperialism the Russian imperialism of Vladimir Putin?
Speaker 6: Well, good morning. First of all, I'm a great fan.
Speaker 1: As you know, Russian imperialism didn't start with Leazimir Putin.
Speaker 6: Russian imperialism started.
Speaker 1: In the fifteenth century when the Russians finally shook off
Speaker 1: the domination of the heirs or the grandchildren of Jengi's Han.
Speaker 1: They were occupied for over two hundred and eighty years
Speaker 1: by the Mongols. They were pretty good subjects.
Speaker 6: They paid their taxes in pelts, in hers.
Speaker 1: Of animals, they gave their wives and daughters to the occupiers,
Speaker 1: and it was the princess intermarried. So there was sort
Speaker 1: of a commingling of the Mongols and later known as
Speaker 1: the Tatars with the Russians. And then finally they shook
Speaker 1: them off. The Mongol Empire fell apart, and one thing
Speaker 1: they got from their occupiers is how to run a
Speaker 1: centralized state. And a lot of elements of the Mongol
Speaker 1: took from the Chinese were now in the Administrative government
Speaker 1: DNA of the Russians. And they never stopped sits. So
Speaker 1: for many, many years, for centuries, they would expand and expand.
Speaker 6: They captured.
Speaker 1: The peoples of the Vulgar Basin, of the Eurals Siberia,
Speaker 1: and they built the largest country on Earth and now
Speaker 1: puts it decided to put it together after the Soviet Union.
Speaker 3: Well, okay, let's Damien jump in here.
Speaker 5: Well, I just wanted to know, I mean, like, we're
Speaker 5: talking Russia here. But you know what's interesting is we
Speaker 5: have an election in Russia that's coming up this week, right,
Speaker 5: and we have some interesting happenings, specifically regarding the Valdi's
Speaker 5: constituency and his wife and the role she's playing and
Speaker 5: how I believe they're trying to get people to show
Speaker 5: up for the election at certain points in time. I
Speaker 5: wonder if you can just give us a little bit
Speaker 5: of color about what's going on on the ground within Russia.
Speaker 1: First of all, Russia had two very brief periods of
Speaker 1: voting in democracy, and after that they reverted to this
Speaker 1: Taarist pattern. Whether it was a red saw his general
Speaker 1: secretary like Lenin Stalin. You probably remember Brezhnev, the guy
Speaker 1: with the eyebrows. And then so the democracy after the
Speaker 1: Tsarist regim collapse, the Emperor Nicolas.
Speaker 6: The second eventually was executed with his family.
Speaker 1: That lasted all eight or nine months, nine months under
Speaker 1: under Yeltsen, Putsin's predecessor, who appointed which it wasn't.
Speaker 6: Really elected by popular will.
Speaker 1: He was first appointed as a heir apparent, and then
Speaker 1: they organized the elections dismantled doctor Cole.
Speaker 3: Just because of time, we got to get this in.
Speaker 3: I think it's really important. What is the size or.
Speaker 2: Impact of the Navalni constituency within Russia on a percentage basis?
Speaker 3: How big are they?
Speaker 1: Oh gosh, nobody knows. First, second, it's small. Third, Sometimes miraculously,
Speaker 1: these events and these people have oversized influence. So I
Speaker 1: do believe that both my good friend buddysniaimself who was
Speaker 1: murdered in twenty fifteen, and Alixei Navili, who was murdered
Speaker 1: just now, will have an outsized influence on the Russian
Speaker 1: people in the Russian history, and one hundred years from
Speaker 1: now people will remember their names, probably will teach these
Speaker 1: names in school. You know what's happening now is a sham.
Speaker 1: It's sham elections. It's just going through the motions to
Speaker 1: justify reappointment.
Speaker 2: I got to squeeze in this one last question, doctor Coen,
Speaker 2: And it's simple. You get out a map, you get
Speaker 2: in a current. Saint Petersburg, you go west. Helsinki is
Speaker 2: a cup of coffee away, and Stockholm's three cups of
Speaker 2: coffee away. What is the accordances to Putin that Sweden
Speaker 2: and Finland have joined NATO.
Speaker 1: It is a geopolitical failure of Putin, just as the
Speaker 1: war in Ukraine is Utsin was fat and happy is
Speaker 1: selling fifty billion dollars of natural gas, billions of billions
Speaker 1: of oil, lumber, timber, the usual stuff, the raw materials
Speaker 1: of Russia always sold for centuries, and now she lost
Speaker 1: this markets, all this blah blah about how they're going
Speaker 1: to be a part of the Global South, part of
Speaker 1: what greater China. It is propaganda for the Russian people.
Speaker 1: In reality, Utsin created the hugest self inflicted wound for
Speaker 1: the Russian international Stin.
Speaker 2: Got to leave it there, Doctor Cohen, Thank you so much,
Speaker 2: Eric Cohen, thought provoking in Russia with the Putin election
Speaker 2: coming up. Good morning everyone, Tom Keen and the headlines
Speaker 2: and newspaper report.
Speaker 3: Of course, last night the.
Speaker 2: Emotion of the oscars, Like you know, there were some
Speaker 2: night high points for me and some things where I'd like, really,
Speaker 2: jim I'm a huge Jimmy kimmelfan, so I thought he
Speaker 2: nailed it out of the park.
Speaker 3: But let's be honest.
Speaker 2: For Lisa Matteo, the apex, I say, the apex of
Speaker 2: the Oscars was eight twenty two pm.
Speaker 7: Keola as ILOs kenosun.
Speaker 8: Juntos beautifully said. You see he's not such a bad bunny.
Speaker 3: Happy birthday, brother, Good ass ya, Thank you.
Speaker 8: International films enrich our cultural understanding by broadening our perspectives
Speaker 8: of the world and each other. Here are the nominees
Speaker 8: for International Feature Film.
Speaker 3: The Rock and then it was downhill from there. He
Speaker 3: got best tuxedo.
Speaker 2: By the way, is well Lisa Mateo, way in here
Speaker 2: now the rock made in early you appearance and I
Speaker 2: thought that.
Speaker 5: Was University of Miami grad.
Speaker 9: Oh that's right, football.
Speaker 4: Yeah, did you play football?
Speaker 3: Did you tune in last night?
Speaker 9: I was sleeping by like seven, it was still light out.
Speaker 9: That was a problem with his daylight saving thing. I
Speaker 9: totally agree, totally still daylight. But I missed that one,
Speaker 9: but I heard about it, so I went to watch
Speaker 9: go on to the rest.
Speaker 7: I have to do that.
Speaker 9: And I also saw a naked John Cena that kind
Speaker 9: of came out.
Speaker 2: Actually, I got a note from many years ago. He's
Speaker 2: been a fan of the show. Really was dressed when
Speaker 2: he wrote the note.
Speaker 9: Hopefully, well maybe not.
Speaker 3: Some people here thought it didn't really work. Did you think?
Speaker 2: You know?
Speaker 5: I don't keep score, but for me, if I I
Speaker 5: guess was keeping score. I only saw that Netflix won
Speaker 5: one award and Apple got shut out.
Speaker 6: Did you hear that?
Speaker 3: Yeah? My god, that Comcast. Congratulations to Universal and mister Robertson.
Speaker 2: The Comcast crew for having a act of that night.
Speaker 2: Let's get to you at the newspapers Lisa, what do
Speaker 2: you all.
Speaker 9: Right, So we're starting with surge pricing coming to more
Speaker 9: restaurant menus. All right, So we have these technology providers
Speaker 9: they're pitching these services allowed restaurants to change their prices weekly, monthly,
Speaker 9: depending on demand. Remember Wendy's got in trouble that customers
Speaker 9: had this outcry against it because they tried to do
Speaker 9: They were talking about maybe doing something like this. But
Speaker 9: these technology companies, they're putting out the software. Some companies
Speaker 9: are starting to see actually profits from this. The Wall
Speaker 9: Street Journal Cali Barbecue, they boosted its monthly delivery sales
Speaker 9: by fifteen hundred dollars by doing that. By adding this
Speaker 9: surge surge pricing, Dave and Busters are doing it. Some
Speaker 9: people aren't Apples. They're not doing it though.
Speaker 5: Wait waiting a little bit longer to get your pulled
Speaker 5: porks now, which it's got to be healthy. IDs sit
Speaker 5: out there in the sun for a little bit while.
Speaker 2: If you guys said brunch at the Breakers this weekend
Speaker 2: in Florida, you rang up. It was like seven hundred
Speaker 2: dollars for two people.
Speaker 5: You know, your bloody Mary at the Breakers cost forty dollars.
Speaker 9: There you go, right, Brooklyn making history. Yes, they have
Speaker 9: the first all electric residential building in New York City.
Speaker 9: So that means no gas stoves. The heating, hot water,
Speaker 9: that's going to be electric too. It's forty four stories,
Speaker 9: four hundred and forty units.
Speaker 7: It has a rooftop.
Speaker 9: Pool, it has a terrace, it has a GM retail stores.
Speaker 7: Well, the apartments all electric.
Speaker 9: Do you want to know how much it's going to
Speaker 9: cost a studio thirty five hundred dollars a month. We
Speaker 9: have a one bedroom, two bedroom going for about eight
Speaker 9: thousand a month. That's and a three bedroom eleven two
Speaker 9: hundred dollars a month.
Speaker 7: There you go.
Speaker 3: Welcome to New York, Welcome to Brooklyn.
Speaker 2: Thirty seconds here right now, guest stover electric. You take
Speaker 2: my guest stove away?
Speaker 5: Yeah, I get upset my mother. I was just going
Speaker 5: to say that my mom has an electric stove. She's
Speaker 5: been renting leasing a place down in Florida right now,
Speaker 5: and she cannot cook on it. She hates it's electric.
Speaker 5: She's out.
Speaker 3: There's new ones. I guess I don't know, wicked, wicked
Speaker 3: old school. Of course, I know it's a hot thing.
Speaker 9: You go, yes, okay, here we go. NBA looking to
Speaker 9: expand their europe options. Damon, you probably know more about
Speaker 9: this what I mean, but these are ongoing discussion between
Speaker 9: the NBA. You have the International Basketball Federation, the euro League.
Speaker 9: They're trying to figure out how to grow basketball over
Speaker 9: in Europe, right, So they've been talking about this, but
Speaker 9: for the first time, the NBA actually considering options that
Speaker 9: could exclude the euro League. So Sportico is saying that
Speaker 9: could include a new standalone NBA europe League. I don't
Speaker 9: I guess it was more talent over in Europe.
Speaker 4: That is that the I guess.
Speaker 5: So, I mean, look, they are looking for more talent,
Speaker 5: and certainly if you look at the recent drafts, I mean,
Speaker 5: all of the top players are coming from Europe. But
Speaker 5: I think it's more about trying to expand awareness, not
Speaker 5: necessarily in Europe, but in Africa as well, in the
Speaker 5: Middle East and some of these other hard to reach places.
Speaker 5: And I think that might be the.
Speaker 3: Basis for this. For this particular.
Speaker 9: Monday, No, it was Oscar Oh, we forgot to talk
Speaker 9: about I am Ken or I'm just Ken, the performance
Speaker 9: by Ryan Gosling at the Oscars that yes, I saw
Speaker 9: the replay of it. He had the pink cowboy hat,
Speaker 9: the whole pink rhinestone studded outfit.
Speaker 1: But it was really good.
Speaker 4: But he was raving about it.
Speaker 3: Yeah, yeah, they weren't suwer No Barbia well BHILLI Eilish,
Speaker 3: you know she did she did?
Speaker 2: You know she did a Barbie song as well. Yeah,
Speaker 2: you're going to go back now and watch a rock
Speaker 2: for the fourteenth. So I am silver Tuxedo.
Speaker 3: I thought that was a reach.
Speaker 6: It was fan very handsome.
Speaker 4: I love that.
Speaker 6: I love it.
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