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Working age population, it is very hard to sustain a high growth economy. meanwhile, the american economy continues to surprise on the upside, and growth is higher than expected and inflation is dropping faster than predicted and employment numbers continue to be very strong and despite that the country has lost its aaa rating from one of the major credit rating agencies which pointed to high debt and even higher political dysfunction. the problem for america is not its economic fundamentals which remain very strong. it's that there is a second shock that america has been reeling from. the tru...

Upside. growth is higher than expected, inflation is dropping faster than predicted and employment numbers continue to be very strong. and yet despite that the country has lost his aaa rating from one of the major credit rating agencies when pointed to high debt, and even higher political dysfunction. the problem for america is not its economic fundamentals which remain very strong. it is that there is a second shock that america has been reeling from. the trump shock. the united states has seen the rise of a populist demagogue who threaten tos destroy all institutions that stand in his way an...

Years ago, the stock market panicked and then went right back to normal. and that's exactly what's going to happen this time. because where are you going to take the money? take it out of treasuries and do what with it? you're not going to put it into banks. there's only two other major economies that have a aaa rating, to it's going to have, this in my mind, no effect on day-to-day investments -- neil you know, you think, dave, to that point, just to clarify, we are a haven, i understand that. we always have been, we make good on our commitments. people know when things get dicey, they park t...

Our political system is very fractured and you saw that, for example, two years ago in the failed coup d'etat. this is really as probably as divided a country as we have seen since the 1850s. >> so as you know, i mean, there are three major credit rating companies, including s&p, and now you have fitch, who has put the u.s. on notice for a potential demotion from its aaa rating. even if the u.s. government avoids a default, do you think the u.s. deserves to lose its top tier rating with fitch or the other -- with moody's? >> well, fitch and moody's have to speak for themselves. as i said, when...

What have you all been told about, if a deal comes about, what will the process be? will you all come back, will you have a briefing when you get back, will the briefing happen virtually? how is it going to shake down? >> i expect if anything happens, chuck will do a conference call with all of us, just because of the difficulties of trouble. we will all be scrambling back as fast as we can. i believe they want the bill to start in the house and bring it over to the senate, but that's still to be determined. then with any luck we can vote it through before the markets really begin to panic. be...