Exact number of the troops are what the rules will be, but said they would support Afghan Forces rather than do the fighting for them. The state department has told russia to close three buildings in the u. S. , including a consulate in San Francisco. The move is in retaliation for the russian decision last month ordering washington to cut staff at its embassies and consulates in russia. The state Department Spokesperson said today that the closures needed to be completed by saturday, over however the u. S. Does not plan to expel any russian officials. 12 People Killed and 14 others injured when a fivestory building collapsed in the indian capital of mumbai today, after torrential rains. Another 25 people were trapped in the debris. Local management Officials Say that heavy flooding in bahir has killed over 500 people, hundreds of thousands have been in relief camps across northeastern India Following the seasonal monsoon rains. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im mark crumpton. This is bloomberg. Julia live from bloomberg World Headquarters in new york, im julie chatterley. Joe im joe weisenthal. Scarlet fu is off today. We are 30 minutes from the close of trading in the u. S. Julia u. S. Stocks rising, the radio zillions with the resilience of the economy, but the dollar turning lower. Joe the question is, whatd you miss . Julia it was not just bad weather, it was that planning, why the only major u. S. City is without a zoning code. And top advisor for donald trump wakes up each morning to a growing problem that will not go away. We look at a major problem for his familys real estate business. Investors gear up for the jobs report tomorrow. We have the information you cannot miss before the numbers come across. Border wallumps will probably be delayed past the funding deadline, according to white house officials. Last year after a rally in phoenix donald trump suggested a Government Shutdown might be necessary. Believe me, we have to close down the government, we are building a wall. Let me be very clear. The democrats in congress, who oppose a border wall and stand in the way of border security, you are putting all of americas safety at risk. Julia oops. Here with what it means for the debt ceiling is our congressional reporter in washington dc. Erica, not only the debt ceiling, but we also have the financing required to help with the Hurricane Harvey fallout, so if you add all of these things together, something had to give and it looks like it is the wall. It does look like Hurricane Harvey will smooth things over in congress, it is a popular measure. It could be about three different pieces of a package needed in order to help the victims. They can become vehicles for other things like the debt ceiling, the building to keep the government open. We got a white house official to acknowledge with those in congress have already been saying, the fight over the border wall is not happening in september. If a shutdown was to happen, the victims of harvey would be impacted as much as fema and other parts of the government, urban and Development Model needed in the recovery effort and a shutdown would be a black eye for the president , said he will not be able to do that battle as he talked about to get the border wall funding anytime soon. Joe essentially, the need to Fund Recovery for harvey becomes the offramp, because there was a view that there was no way that border wall funding was going to pass and the white house said that it would not, it would be willing to close the government over it, but you are saying that the growing perspective is that they need to fund the Harvey Recovery supersedes all of that. Erik that is right. The offramp is how the members of congress have expressed it, basically saying it allows donald trump to save face, saying i still want the border wall, i can have the fight in december come have the fight later, but right now we need to help Harvey Victims and avoid the shutdown. Basically it is a get out of jail card right now. And they could use a combined ability raise the debt ceiling through the next midterm election, the next time when we get to this border wall funding fight in december we do not have the added competitions of the debt ceiling that could rattle the financial markets. Julia get out of jail free, i like the idea of that, a graceful way of turning around for President Trump. Dream, us about the speculation all week that donald trump will end of the program. And it will clearly be controversial. Going headtohead with some big ceos in the country. Will we see it next week . Erik it is looking likely that he will allow the current dreamers, those who have applied for a temporary work permit to stay until those expire, but at that point to sort of open them up to possible deportation. That could be extended. There is leeway. Nonetheless, there will be a Major Political fight, some backlash from democrats over that. Thesegument there that people who came here as children, undocumented, put themselves forward and registered and now police know where to find them and this is sort of like breaking up with them. It is certainly playing to the donald trump base, his core supporters, 34 Approval Rating that he has now, a big part of the court wants to see this program, daca, and it appeared joe ended. Joe thank you very much. Julia houston is falling, the fourth largest metropolitan area in the united states. It is larger than the state of new jersey and it is situated in an endless swamp, as one explorer put it. Editor in his latest stories says the city is suffering from a lack of a plan to deal with chronic flooding. Great to have you on again. Great article. We want everybody to read this. You say houston is making itself more vulnerable than it should be, for many structural reasons, so lay them out so we get a sense of your arguments. I do not want to seem like we are blaming victims. They are going to a terrible time right now and i have gotten reaction from people saying, why would you dwell on the negative . This is not what it is about, it is about what they can do better. Going back to the early 19th century, it was built in a swamp and they knew it at the time. Houston has always had a cando attitude, the texan pride, and it has thrived. The fourth biggest city in the country and so much going for it. It has done it in an unconventional way, just by the build first ask questions later attitude. Cityally it is the biggest in the country with no zoning code. An as you say, houston has antizoning philosophy, but on the flipside to that you never hear about Affordable Housing crisis in houston, you hear about it in new york, in los angeles, San Francisco and washington dc and boston, almost everywhere else. Houston is good for the middle class. Peter that is the point, that is the upside. The downside, they have done it by pay much unbridled construction, including in places they probably should not be building. If you are going to live in a swamp, you need to make plans for it and you have got to have places for the water to collect when you have a big storm like this. Joe is it your assertion that you could have a sort of, build wherever with a few more roles that are more sound rules that are more sound . Peter i think there is a way that they do not have to get rid of the texan cando spirit, but within reason make sure you are accommodating nature, not fighting it. Julia one of the questions as well was the stunning facts here, less than 15 of individual homeowners actually have insurance. The fact they have been built on the floodplains, and looking at the lack of insurance, they can kind of record highs the problem here. That is a piece of it. Peter it goes back to fema requires Flood Insurance if you are within 100 for the flood zone, but many people affected by this may not have been in the flood zone, or maybe not carrying a mortgage, so they do not need to have the Flood Insurance. The number of people with insurance policies declined over the last five years. You know, you let it lapse. You think it is expensive, you can probably get away with it and then this happens. Joe the National Policy toward Flood Insurance is controversial. It is coming up for debate in congress. What is the direction of that program . Peter my coauthor had a great interview with the head of fema on this. And one of the things that he said, this is more on the topic of emergency disaster aid, rather than Flood Insurance, but the concept is the same. If you choose not to have stringent building codes, if you will run the risk that a flood will wipe out a lot of buildings, then you as a city should expect that the federal government is not going to come in with first dollar aide, there might be a deductible. You might have to pay with local funds and then the federal government comes in after you have paid your deductible. Julia is singapore, which is heavily impacted by monsoons, some kind of option as an example of a model that we should look at . Peter i mentioned it because it was mentioned to me by somebody who said, and i went back to get the data, singapore has doubled their population since the 1980s. At the same time the amount of land is extremely dense, the city state, and it is green and it has risen by 40 , improving its ability to withstand monsoons even while it was growing. Julia fantastic. Joe it is funny how often singapore is looked at as a model. We had the same discussion during the health care conversation. Peter and he cannot sit on the sidewalk. Julia because of the chewing gum. I want to bring up headlines crossing the bloomberg terminal right now. Donald trump pledging 1 million to Harvey Disaster aid. I assume that is his personal money here. Briefing, saying that he has plans to go to lake charles and the houston area, originally planned for this weekend. He is trying to get to those places he did not get to earlier this week because he did not want to interrupt those rescue efforts. Peter, great to chat with you. You can read his story with his colleague in the latest issue of bloomberg businessweek. I said it already, but good article and worth reading. Coming up, Jared Kushners family made big bets on a skyscraper in manhattan. And the debt burden getting heavy. We will be discussing it. From new york, this is bloomberg. Julia whatd you miss . About a decade ago with 50 million down Jared Kushners coming purchased 666 5th avenue. I was trying to change those numbers. They bill comes due in 2019 and the businesss position has become precarious. Thousands of pages of financial documents have been reviewed and caleb has taken a look. They purchased this several years ago and we have heard plenty of stories about their attempts to travel the world to try to get financing and it has been happening for a couple years, so i have they failed to do that . There are a few reasons. The plan they are going for is so expensive. They are going for a moonshot to save this aging tower. They can update the tower and use it as an office tower, maybe refinance it. That is not what they want to do. They want to knock it down, put in a fivestory mall, condos that would go for about 9,000 per square foot on top of that. It is to get really expensive ask and there has to be only a handful of partners that would really be interested in some they like that. Joe lets take a step back and talk about how they accumulated this massive debt. It was 2006, they put down 50 million on a 1. 6 billion loan . Caleb 1. 8 billion. Joe what is coming due . Julia what is their ownership . Caleb they now own about 50 of the offices and none of the stories and they owe half of the mortgage. The other half belongs to a realty trust that entered into a partnership with them in 2011 with the office spaces. Interestrate are going back up after the refinancing agreement and they have until 2018 to figure out what they are doing. Julia tell me something basic, money in, money out, down or up . Joe this is the essence of all business reporting, down or up . Andb interest is going up occupancy is going down. Right now it is 70 occupied, which is in part because of the design, because they do not want to bring in people if theyre going to knock it down. So it is that for sure. Right now the red is getting bigger. Joe now that family owns other properties besides this one, they have been trying to extract cash from those holdings in order to keep on with this one. What is going on with that . Caleb my colleague and i have reported a few things that are going on. They sold about 18,000 of these apartments in new jersey, maryland, which were not particularly sexy, but Good Business to purchase the tower back in 2006 and 2007. They have fewer of those and now they have a fractional stake in new York Properties that they purchased with a lot of debt, so their overall position around the building, it is a much larger part of their portfolio then it was a decade ago. Julia that is a good point. It is only one piece of the puzzle. I cannot believe we have not mentioned the administration or donald trump, because it is interesting to rise when the campaigning for the president ial election was going on. To what extent do you think that this is complicating the issue, the investigations going on, the sense that you just do not want to get too close to this, because we should make the point that Jared Kushner has separated himself, it is his father now dealing with this. Joe before he joined the administration, he was trying to help make the deals happen and now it is his father and the official president of the company is different now and he has divested himself from the company that owns it, but the ownership stake went back to his dad whom he is close with. You pointed out the phenomenon where we were able to charge them getting through more doors and into more meetings as Trumps Campaign star rose, but the deal is such a hard sell that they are not getting any investment. Caleb there was a great phrase in the article. Joe something like, investors who are not looking to make a profit. Which there are not many in the world. Maybe zero. What does that mean . Caleb the closest they got was has a chinese insurer that bought up real estate and the waldorf and evaluations are different there. So a high price for them, for the u. S. Real estate, or for u. S. Buyers is not for them, it is still some big of a bargain. And they are trying to get cash oout of the country and that is another issue. Julia i could leave you two talking. More questions. So good. You have to read the article. Joe caleb, check out his article on the bloomberg or at bloomberg. Com. Time for the stock of the hour, Dollar General extending a fourday slide as if all the most in a year after earnings showed the effects of increasing conviction among retailers. Oliver renick is here to talk about the company. Dollar general. A dollar store. [indiscernible] scarlet somebody watching over caleb. Not having a good day, down 6 , the most in about a year. If you look at it in the past year, it is a rough chart with up and down and it has generally done pretty well the couple years before, but now it is a volatile chart and a good spot to be in. This is somewhat company specific, but overall very industry sort of general if you will, because it is a story about retailers having to figure out how to get bodies in their stores and keep them there. And before we started, to answer your question, they break down into two categories, the sacred Dollar Stores and the real one, the real ones only selling products for one dollar. Im not sure of those still exist. Dollar general has different pricing, so markdowns for people to get inside and they hope that they spend more on the larger items. Right now the margins are streaking are shanking. Jump into the terminal. This is a look at where they are compared to peers. Where i am is the gross margin, they are above 30 right here in the blue bubble. On the y axis i have the growth. You can see this corner is not a good place to meet, it means they are trailing on margins and in the past 12 months the earnings are not looking hot. Put them together and that is why you have the worst of the year. Julia you always bring awesome charts. Oliver renick, thank you for that. Next, the Indian Government taking a gamble when it when cash would no longer be accepted as legal tender. What has been the payoff . We have the answers. This is bloomberg. Julia whatd you miss . Inflation cannot break above the 2 no matter how you look at it. Take a look at the chart, we had inflation this morning from the eurozone and we do have mario draghi next week said to give hints on what is going on as far as the millis is concerned as stimulus is concerned. We are looking at the blue line, core inflation. Excludesve cpi, that packaged holidays. You can see it goes a little bit bit nape the core level beneath the core level. And we have the purple line, fiveyear swap. I made the point earlier in the week and i wanted to illustrate it again. We have the ecb looking at this, below where it was when they initially announced qe. For all those people borrowing the euro and arguing for mario draghi to do more, we do not have the numbers. Joe here are some not so pleasant numbers, indian gdp has been falling below chinese growth and the reason it is interesting, remember the big demonetization plan by the government. They wanted to clear out all of the hidden money that was corrupting with bribes. 90 never sent of the cash has come back. 99 of the cash has come back. Market slowdown. Julia they are not giving up. The market close is coming up. Here are the averages going into a short break. Stay with us. This is bloomberg. Julia whatd you miss . U. S. Stocks closing higher with the s p 500 the racing a monthly loss erasing its monthly loss. Im julia chatterley. Joe im joe wei