Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.

I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and

I'm going to explore the lessons we can learn when creativity and ambition collide

with competition and power.

Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts,

or wherever you get your podcasts.

This is Bloomberg surveillance.

You can't take fiscal policy out of the political process.

It is the political process and essentially it's gridlocked in most countries.

The massive flows out of active and into passive have, I think, created more irrational pricing at the stock level than we've seen in some time.

This is the end of the oil age in the 21st century.

So the 20th century is the age of oil. The 21st will be the age of electricity.

Bloomberg surveillance, your link to the world of economics, finance and investment on Bloomberg Radio.

Good morning, I'm Michael McKee, along with Tom Keene.

It is 7 a.m. on Wall Street, 7 p.m. in Tokyo, where overnight nothing happened.

And that is news, the Bank of Japan decides to stand Pat adds no new stimulus and that is disappointing investors worldwide today.

The no monetary fix D.T. sending the nique down seven tenth a hangover that has

continued in the u up in the euro in europe and the u.s stock six hundred right now

down by a.5% 3.5 points rather that is 1% on the day

the Dax is off by 50 points that is half a percent the euro is down from

yesterday a little bit stronger a little bit weaker rather but it is at this point

a little changed on the day 110 86 the footsy is down by

...