To me, context is about pattern recognition.

It's connecting the dots.

It's giving readers an ability to synthesize

a number of different perspectives

so they can understand how the greater whole works,

because nothing really occurs in isolation anymore.

I'm Tim O'Brien and I'm the senior executive editor at Bloomberg Opinion.

On our platform, we ask tough questions and solve complex problems with the facts in mind.

Start exploring our opinion coverage and more at Bloomberg.com slash subscribe.

Who you put your trust in matters.

Investors have put their trust in independent registered investment advisors to the tune of four trillion dollars.

Why? Learn more and find your independent advisor.com. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene always with Michael McKee.

Daily, we bring you insight from the best in economics finance investment and

international relations find Bloomberg surveillance on iTunes sound

cloud Bloomberg dot com and of course on the Bloomberg Bloomberg. Jacob Frankel, he's a former David Rockefeller, professor at the University of Chicago,

governor of the Bank of Israel, and now of course with J.P. Morgan International.

Professor Frankel, thank you so much for joining us this morning.

I want to go to Brexit on a first order condition.

We have endless guests telling us the current account deficit dynamics of the United Kingdom

are key. You are truly one of the experts in the world on this.

Are you concerned about the depth or the duration of a current account deficit in England.

Well, obviously, current account deficit, if they are too long and too large,

...