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Consolidation makes sense in a growing world, but what we have right now

is consolidation is taking place in a flat world and that's more concerning.

The big issue is the role of government.

That's where the differences are.

That's where the American public is conflicted.

That's the key issue I think that this election is going to pivot on.

You don't want to be out of bonds because you want to be sure that you've got a less volatile

portfolio so don't be out of fixed income even though those rates are low because

fixed income plays a really important role in your portfolio, especially in retirement.

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

Bloomberg Radio.

Good morning everyone.

Michael McKee and Tom Keene.

It's thrilled to have you on board with this on economics, finance, investment,

on international relations, on the studio apartment I can't afford in Midtown Manhattan.

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