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But because the debris field was spread out a little bit, my sense is in the report, in the press conference they talked about being in the water column. they were probably much closer to the bottom, but still above the sea floor. >> how does an implosion occur? why? >> yeah, so, they use carbon fiber for the tube part of this submarine. it's a relatively new material. very strong and has many utilizations. they were bolting on titanium end bells. you have the hatch and a window. titanium is something we used to build submarines before. it's not just these materials, but the inner face of thes...
Economy does not need any further upsets. >> and the u.s. economy is -- finish the sentence. jobs are strong. the economy is still growing. how do you characterize the economy right now? >> absolutely. just look at the jobs report from last friday. u.s. labor market is incredibly strong. unemployment at multi decade lows of 3.4%. still very strong. unfortunately with that strength comes strong wage growth can which is something that the federal reserve is trying to compress. as long as the labor market stays strong, it is unlikely that the fed will cut interest rates. so it is strong today, bu...