Without power. It was horrible. Ive been through storms before. This was the strongest harshest storm ive ever seen. Were going to be without power. We dont even know, you know, its too early to even get an estimate. If i would have known that it was a cat 4, a direct hit, wouldnt stay. You learn add leed a lesson think . Oh, yes, i think a lot of people did. Trees and power lined toppled around the region making it difficult to get around. Were in downtown albany where a massive amount of businesses were destroyed. This is the fate of 126 trees throughout leon county which is where tallahassee is located. Youve seen the destruction. We have unbelievable large amounts of water and food and everything that people can want. The electric companies have been terrific. Theyre already working. Fema right now, our focus is search and rescue. Getting access to the areas that have been hardest hit. We have a massive effort to get out to people. We still could have threats to life and property today from michael because of the rain. We are awaiting a big visitor. Kanye west going to be visiting with the president. Theyre going to be discussing a range of different issues. Everything from Prison Reform to Gang Violence in chicago. All right. Welcome back. Lets talk about stock markets. U. S. Stocks opened lower again this morning. One day after a more than 800point drop in the dow. Thats the third biggest point drop in its history. Now, look, stephanie, this is twothirds of a percent. You and i understand the percents are more important than talking about cents because the dow is high. This is persistence. And there are regular folks kind of worried about their retirement now. We havent seen any volatility in such a long time and the market has been roaring for such a long period of time. Its certainly not a time to panic. Now, the broader s p 500 index this normally mimics portfolios in basically all of our 401ks, this sucker has lost nearly 5. 5 over the same time period. Over just this last week or so. Yep. Some people are calling it october selloff. Its led to selloffs in markets in europe and asia. Its spooked by u. S. Interest rates. When you see Interest Rates going up, there are a lot of investors who start to move their money out of the stock market and into what are considered safer investments. Which is also a good thing because Interest Rates were so low for so long, stocks were the only game in town. That wasnt necessarily healthy. But because you couldnt make money everywhere else, you saw people pile into stocks. In fact, when rates were set so low during the obama administration, and, remember, they were set low because the economy was suffering. We were coming out of the financial crisis. Trump criticized that. He said youre hurting savers. He accused janet yellen of all people of doing this because she was hooking up obama. Right. Fast forward, here we are, and i use the president s words, not ours. Yes. Strongest economy ever. Things are so big and beautiful. And he takes credit for it. Thats when the fed and others start to move Interest Rates up. Which is what theyre naturally supposed to do. All right, so the problem might be with the pace at which this is going. Joining us now is john harwood, cnbcs editor at large. John, as we were just discussing, the natural course of events is that as Interest Rates go up, the market will slow down. What we saw last week was a fairly sudden surge in what we call bond yields which are Interest Rates. There are some people saying weve got more to go. So Interest Rates are going to keep going up. What does that mean for people with Stock Investments right now . Well, people with Stock Investments are going to see risks associated assets, unless valuable, and people being drawn, as you guys just indicated, to safer investments that now pay a little bit more interest than they did before. Interestingly, this is precisely what donald trump as a candidate in the fall of 2016 said janet yellen was preventing to help obama and hillary clinton. He said, you watch, if they raise Interest Rates, stocks are going to plummet. He said it was a bubble. Well, Interest Rates are going up and were seeing stocks correct a little bit right now. Heres what doesnt make sense to me. There are lots of reasons you could point to. Interest rates could be one. It could be the imf warning of Global Growth slowing down. In part because of the tariffs. You could say look at these Tech Companies with trillion dollar valuations and people cashing out. But whats interesting to me is even if the president wanted to play politics here with the midterms 26 days away, the president could and it wouldnt be true, he could say see, the market is getting scared about this blue wave that you speak of and if you elect those democrats, theyre progressive, theyre not going to want the economies to do so well. Theyre going to hurt business. Now, that wouldnt be true, but it would fit why are you giving them ideas . But it would fit with the president s narrative and people might say, well, look, my stock portfolios done so well under President Trump, maybe hes telling the truth. No, hes choosing to go after jay powell his appointee. His own fed chair. To say that jay powell is out of control. I assure you and i dont know jerome powell, it is first time in his entire life hes been called out of control. Hes been called out of control. Powell is not out of control, youre exactly right. The one consistent pattern for President Trump is when things go bad, when a negative event happens, he tries to make clear it is not his fault. But theres just smarter excuses is all im trying to say. Well, you know, hell probably use those an hour from now. You know, the president will say anything to deflect responsibility. Yes. As we get closer to the election, maybe hell say this is fears of democrats taking over. But for the moment, he is pointing to j. Powell and that is at least consistent with the line of rhetoric he was using in 2016. In fact, throughout the period of quantitative easing, President Trump, as he was trying to build his political reputation, was saying this was harmful to the economy and the fed should if they werent trying to protect all right, ill ask ali a question. So we can all sit here and say this is preposterous, it makes no sense. But does it make sense . We have seen the president s rhetoric spook all sorts of people. Ceos. Political leaders. You know, on both sides. What if this actually has an impact for him . What if somewhere in the recesses of Jerome Powells mind and his team, theyre like, we dont need this drama, and what if it actually causes them to slow down . Couple things. I think people who arent president who think Interest Rates are too low, always want someone else to raise them when theyre not president. I think everybody who is president , when Interest Rates are too low, never wants anybody to raise the Interest Rates, right, because its only ever bad for you. People have these no one does what President Trump is doing and for us to chuckle and say its foolish, were the fools. Somebody did, john harwood. Im trying to think of which president complained . Was it h. W. Bush who complained when Interest Rates went up in the month before elections . Yes, he complained about Alan Greenspan shcorrect, thats right. Not being accommodating enough before the 1992 election. He thought the economy was in difficulty difficulty, actually the recession ended while he was campaigning for president. He did not reap the benefit of that. He later grumbled it was partly greenspans fault. Its not like trumps the first person to do this. Hes just done it more loudly. Heres my question for stephanie. But answer, could it work . Yes, i got out of the prognostication about what happens to donald trump when he says things in business a long time ago because im wrong. He always says if that happens ill grow an agro. Im going to need to grow an afro. We did identify that Interest Rates go up, stocks often go down. You said one, we havent had vo volatility in this market for a while. Which is normal. Two, some of these Tech Companies are nuts, valuations. And this trade war. This trade war is having some effect it may just be a time to get logical and take a breath. Market volatility is normal. Its only a big drop by comparison. Because we have been going one way, up, for such a long time. Exactly. Yes, and, you know, everybody is hearing from their brokers right now a note of caution. That the market is pretty highly valued. And so its not like there arent rational reasons for this to be happening. The market is high. The expansion is nine years old. There are reasons for this to happen beyond simply rising Interest Rates. And, stephanie, youre exactly right, the tariffs have something to do with a somewhat slowing global outlook. You know, when we have a guest say stephanie, youre exactly right, i like to stay on that conversation we have to go. We actually have some swearing about to come up. John, thanks. Actual swearing. Not swearingin. So please be worned. Kanye west just finished meeting with President Trump at the white house. Yes, there are some profanities in here. The greatest of all time. And what people dont know, kanye, everybody knows, right . Does the world know kanye . People kanye, what people dont know about you . They say, first of all, hes the best football player. But they say he was even better lacrosse player. You think so . Ha . Never thought about it. Ive heard he was even lo well, its great to have you. Thank you. Kanye, its great to be with you. Great to be here with you. And these are two friends of mine. Kanyes been a friend of mine for a long time. And jim jim came out of nowhere and he said, i like what the president s doing a long time ago we met, right . And i just appreciate it very much. And, you know, if you look at the employment numbers, if you look at the median income. If you look at every single indicator, were keeping our promise, jim. Thank you. I like north korea too. Well, hes turned out to be good. Guy i like. We had a little dialogue. And the secretary of state just came back, mike, just came back from north korea. We had very good meetings. And well meet again. Were doing good. No more nuclear testing. No more missiles going up. No more nothing. And its that was headed to war. That was headed to war. To me, it seemed like yes, so close. I spoke to president obama. I will tell you, that was headed to war. And now its going to be i believe its going to work out very well. Stopped the war. We stopped the war. We saved millions of lives. You know seoul has 30 Million People. You dont realize how big. 30 Million People right near the border, 30 miles off the border. Millions of people would have been killed. And i will say chairman kim has been really good. Really good. And weve made a lot of progress. Its nice that you say that because thats a big thats a big thing. These folks were covering they were covering north korea not i think not very promisingly. And there were a lot of problems. President obama said that was his biggest problem. And i dont say anythings solved biggest problem we solved one of the biggest problems there was a big it was a big solving. And not solved yet but i think well i think were on the way. [ inaudible comment ] no, no, were well on our way. In a short period of time, jim, very short period of time. You know, i left singapore three months ago and we made a lot of progress. Its very good. Thats one of many things. I appreciate everything with you. I tell you what. Kim was in. Mrs. Johnson. We got her out. She was very unfairly treated. And there are many other people like that that with us today, a prisoner that was focused on he had six life sentences and they have him next to the unabomber doing 23 at what did they do . What did he do . Why is he in . Yes, tell me. Allegedly its for conspiracy from prison, from state prison, you know, its alleged, but we do believe even if he did commit those crimes, the sentence was overly broad what was the sentence . Six consecutive life sentences in the most secure prison in the world also known as the clean version of hell for basically what is he super max, colorado. They house the unabomber, al qaeda operatives, things of that nature. How old is he . 68. Hes 68 years old . 68 years old. And really, the reason why they imprisoned him, is because he started doing positive for the community. He started showing that he actually had power. That he wasnt just one of a monolithic voice, that he could wrap people around. So theres theorys that theres infin mitt amounts of universe and theres alternate universe so its very important for me to get hoover out because in an alternate universe, i am him and i have to go and get him free. Because he was doing positive inside chicago just like im moving back to chicago and its not just about, you know, getting on stage and being an entertainer and having a monolithic voice thats forced to be a specific party, you know, people expect that if youre black, you have to be democrat. I have a i have conversations that basically said that welfare is the reason why a lot of black people end up being democrat. They say, you know, first of all, its a limit to amount of jobs. So the fathers lose the jobs and they say well give you more money for having more kids in your home and then we got rid of Mental Health institutions in the 80s and 90s and the prison rates just shot up. And now you have shiraq, what people call chiraq. Just talked to the superintendant. Met with michael, thats romes righthand man. I think its the bravery that helps you beat this game called life. You know, they tried to scare me to not wear this hat. My own friends. But this hat, it gives me it gives me power in a way. You know, my dad and my mom separated. So i didnt have a lot of male energy in my home. And also, im married to a family that, you know not a lot of male energy going on. Its beautiful though. But theres times where, you know, its something about, you know, i love hillary. I love everyone, right . But the campaign im with her just didnt make me feel as a guy that didnt get to see my dad all the time like a guy that could play catch with his son. It was something about when i put this hat on, it made me feel like superman. Thats my favorite super hero. And you made a super cape for me. Also as a guy who looks up to you, who looks up to american industry guy, nonpolitical, no bullshit, put the bleep on it, however you want to do it, goes in and gets it done. Right now, you gave me the heart to go to adidas. Because at adidas, when i went in in 2015, a 4 Million People losing 2 billion a year. Now we have a 38 billion market cap. Its called the yeezy effect. And i went to casper. We had a meeting in chicago. And i said you have to bring manufacturing on shore. Not even on shore, into the core. Its not about the borders. The core of adidas, and chicago is the core of Middle America. We have to make Middle America strong. So i have the balls. I have the balls to put on this hat. I mean, this adidas thing made me a billionaire. And i could have lost 200 million walking away from that deal. Even with that, i knew it was more important for me to take the chance of walking away from that deal than to have no fathers in chicago with no homes and when we do have Prison Reformation because now its not rehabilitation. Because we didnt have the abilities in the first place. We didnt have anyone to teach us. We had no one who taught us, right . So its more important than any specific deal, anything that we bring jobs into america. And that we provide a transition with Mental Health and the American Education curriculum. That larry hoover also had a curriculum he worked on. We have montessori curriculums. The waldorf establishment had a curriculum. We have meditation. Theres a lot of things affecting our Mental Health that make us do crazy things that put us back into that trap door called the 13th amendment. I did say abolish with the hat on. Because why would you keep something around thats a trap door . If youre building a floor, the constitution is the base of our industry, right, of our country, of our company. Would you build a trap door that if you mess up and you accidentally something happens, you fall and you end up next to the euna bomber . You end up you got to remove the trap door out of the relationship. The four gentleman that broke the 13th amendment. And i think the universe works, its perfect. We dont have 13 floors, do we . So the floor gentlemen broke the 13th amendment didnt look like the people they were amending. Also at that point, it was illegal for blacks to read or africanamericans to read. And so that meant if you actually read the amendment, you get locked up and turned into a slave again. So what i think is we dont need sentences, we need partners. We need to talk to people. I was diagnosed with bipolar disorder. I was connected with a neuro psychologist that works with the athletes in the nba and the nfl. And he looked at im going to go ahead, drop some balls on you. 98 percentile iq test. Whether it was counting eight numbers backwards off im going to work on that one. The other one, 98 . Tesla, ford, you know. So he said that i actually wasnt bipolar. I had sleep deprivation which can cause dementia 10 to 20 years from now, i wouldnt even remember my sons name. So all this power i got and im taking my son to the sox game and all that. I wouldnt be able to remember his name from a misdiagnosis. What we need is, we can empower the pharmaceuticals and make more money. Thats one thing. Ive never stepped into a situation where i didnt make people more money. So we can empo