Is Deutsche Bank Going The Way Of Krispy Kreme? Now On The FDIC Watchlist. Deutsche Bank Was $119 a share in 2007, now only $11. Money for nothing – Italy monetizes (creates) 500 million out of nowhere. Will democrats at the FED become election year political? Thanks for listening to this week’s McAlvany Weekly Commentary.
The McAvaney weekly commentary covering monitary economic and geopolitical news events. You've got the near unus of recession which is closer by the day. A potential emerging market meltdown. I guess if you said well what does it feel like. It feels like the music's been playing for quite some time and if this game is the game of musical chairs you may be eyeing a chair very very eagerly in fact I would go ahead and grab one if you can choose a shiny one. I would grab one of those in particular. Now here are Kevin Orrick and David McElhaney welcome to the Michael Delaney weekly commentary I'm geben Orrick along with David McElhaney Well David while we were burning up here in Durango you were burning up in the Carolinas. You did another seventy point three. This time it was a relay but it was half Iron Man. You were doing it with a guy just a little bit younger than you. Can you tell us about it. 19 years old. I wanted to introduce my nephew to triathlons and he did fantastic. We had a great time between the Italian food pre race there in Chapel Hill and Mr. dumplings which was amazing Chinese food in APECs afterwards. We had a fantastic week. Well it may have been amazing mainly because you were just amazingly hungry. Yes. I tell you what I was also amazingly hot. Humidity does things to the body that just normal temperature does not do.
And I was thinking about this on the plane back if you've ever been in a dry sauna versus a wet sauna a wet Sonna tops out at about 125 and you're baking yourself to death at 125 in a wet suit. You feel like a boiled egg dried sauna. You can take it to 165 before you feel the same way about a forty point differential between dry and wet and it didn't matter that it was only 85 degrees outside. It was the 87 percent humidity which was absolutely crushing. But we had a great time we had a really Fanta. Dave you've been on trips before where you've gotten a call from your wife saying the dry season has caught up with us. We've got a fire in your you're what is it. Twelve hundred fifteen hundred miles away and we really did Friday afternoon while you were gone we saw that wisps of smoke that just our heart sank because you know we're at 30 percent. You're talking about humidity. We were at 30 percent of what we normally would be from snowpack and from rain we knew we were going to have forest fires and we're in the national news right now. You guys haven't been evacuated yet. I haven't been evacuated but we have friends who have been evacuated. Like you said when you got home it smells like a campfire. Well I left on Thursday and had a business meeting Friday morning in Milwaukee Wisconsin. Great group convene and lose her in college. You did a commencement speech. Well exactly that night gave a commencement speech Friday night and it was absolutely fantastic. I learned a lot from the folks that I was with and just enjoyed the atmosphere a bit coming home after this weekend.
I mean it does smells like a campfire smells like when we've been camping the forest fire north of us is gabbled up about 2500 acres and smoke is everywhere so we do have friends that have been evacuated. We're a long ways from it but it's a serious fire. There's no snow this winter. Right now the fire is about 10 percent contained. So it's a bit of an issue. Well it's the real praise that we have lost in a structures or lives at this point. I mean because obviously it's a very hot area and it's fuel rich has what they call it you know now you know while you were gone also you know first quarter GDP numbers were released and GDP can sound like such an incredibly dry subject. You know we brought in Diane Coyle who wrote GDP a brief but affectionate history. It's a book completely on GDP if you recall but GDP is a very politicized number. In other words not just the Obama administration not just the Bush administration but now under the Trump administration we're seeing a little bit of finagling that probably is giving a misread. Yeah I would encourage you to go back to the archives if he didn't listen to the interview with Diane. It was great. Gives you some background as to the importance of GDP how it's migrated and developed over time what it is today versus what it was you know 20 30 40 50 years ago. So we had the revised numbers last week two point two versus the previous two point three. And that's really no big deal.
But the revision for intellectual property that was significant I remember talking about that in 2013 when they added that. That's right it went from three point six and they bumped it up to ten point nine. And that was a commentary. You're right. 2013 which is when they changed the GDP statistic and included intellectual property as a brand new component and it was added under the Obama administration because GDP was sluggish.