Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea and our single best idea is when
Speaker 2: there is tragedy, we go to the science of aviation
Speaker 2: with Bloomberg Intelligence. This has obviously been a commitment by
Speaker 2: Bloomberg for well over thirty years. It was definitive in
Speaker 2: Dallas with George Ferguson and Mary Schlangenstein, and we just
Speaker 2: build out an ability to look at Boeing and then
Speaker 2: out of London and down to Paris to look at
Speaker 2: Toulouse and Airbus. We're committed to the coverage of aviation
Speaker 2: and today was a very difficult day. We thank Danny
Speaker 2: Lee and Bangkok who was absolutely spectacular on Asia in
Speaker 2: the reach from the Pacific rim over to Mumbai and
Speaker 2: Amenabad to speak after this terrible plane crash. In particular
Speaker 2: George Ferguson yeoman's duty, not in Dallas, George Ferguson definitive
Speaker 2: in the industry and Oslo at a conference. We thank
Speaker 2: him for giving us some real wisdom on the seven
Speaker 2: eighty seven, the seven seventy seven and our safety to fly.
Speaker 2: Francis Donald stopped by with RBC Capital Markets wonderful to
Speaker 2: calculation of GDP Francis Donald on these uncertain.
Speaker 1: Times, Well, there's all sorts of measures of uncertainty, and
Speaker 1: no surprising, whatever measure you're using is at an all
Speaker 1: time high. And what that means for forecasters but also
Speaker 1: for businesses. My clients, the CEOs that I talk do
Speaker 1: you hear from them? What I hear is we have
Speaker 1: to risk manage around downside and upside. We can't have
Speaker 1: one scenario that we base our business operations on. We
Speaker 1: have to plan and prepare for a wide range. But
Speaker 1: this uncertainty, it is not actual policy that is problematic here,
Speaker 1: although yes, there are some elements of it that are problematic.
Speaker 1: It's what is the game that we're playing. We cannot
Speaker 1: write the playbook until we know what the game is itself,
Speaker 1: And so forecasters and businesses are actually operating with much
Speaker 1: ward wider set of scenarios available.
Speaker 2: Francis Donald of RBC Capital Markets, the vice chairman and
Speaker 2: the former vice chairman, Richard Clarita of Columbia University, and
Speaker 2: of course all of his work at PIMCO was with
Speaker 2: us today. This before the June eighteenth FED meeting. I
Speaker 2: asked him a question I'm certain I've never asked him
Speaker 2: before Richard Clarina on gold.
Speaker 3: I'm following this pretty closely because the purchases in the
Speaker 3: official data, the purchases of gold are large, and they've
Speaker 3: been picking up. I'll share an anecdote with you. I
Speaker 3: was in Asia ten years ago seeing a very sophisticated
Speaker 3: official investor, official institution investor, and we were talking about
Speaker 3: gold even then. This is like twenty fourteen, twenty fifteen,
Speaker 3: and that was in the context of Kiwi Infinity, and
Speaker 3: I said to him, well, why invest in gold. You
Speaker 3: can buy inflation index security. It gives you a hash
Speaker 3: against inflation. And he looked at me and he said,
Speaker 3: gold doesn't default. And so I don't think the US
Speaker 3: is going to default either, but certainly we have seen
Speaker 3: that allocation. And again talk about back to the future.
Speaker 3: I mean central backs have been holding gold as a
Speaker 3: reserve for hundreds of years, and so we're sort of
Speaker 3: getting back into that mindset.
Speaker 2: Richard Claire to there on gold. I really never thought
Speaker 2: I would speak with one of our great academics on
Speaker 2: monetary theory about gold. But there is the surprises of
Speaker 2: surveillance and your commute across the nation, across Canada, serious
Speaker 2: exem channel one, twenty one, Humbled by that old technology boy.
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