because of a computer software in another attempt of august 2021 never got off the ground because of corroded valves. it may of 2022 i reached the international space station but happy shoot system issues, no one aboard of any of these lights you have just been under jeff bezos blue origin for the flight since 2022 on sunday we will follow all of this on "mornings with maria" 6 - 9:00 a.m. eastern weekdays on fox business. i hope you will join me every weekday for that i will see you sunday on the fox news channel 10:00 a.m. eastern lifer "sunday morning futures" exclusive interviews with south carolina senator tim scott, doug burgum and porta congressman anna paulina luna and byron donalds that is live on fox news channel sunday 10:00 a.m. eastern. i will do it thank you for joining us this weekend i'll be a great rest of the weekend. i will see you next time. >> "barron's roundtable" sponsored by global x etf.

♪ >> welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead i am andy and for jack otter. the world economy is slowing down as global government debt levels spike world bank david malpass is sounding the alarm on why it's a major concern. then the buzz around green energy is getting louder but don't count oil and gas out yet, the expert panel will impact the future of the energy sector and dive into her smart investors to put their money. later the bond king does not like bonds anymore will look what he's buying instead the expert panel and three things investors are to be thinking about right now on the "barron's roundtable" ben levisohn, andrew bary and meghan.

the big news the dow cracked 40000 at the close real drama because it was nip and tuck at the very end. last week we asked you why the market was up he was bad news initiate proximate cause this week. >> this week we have bad news without good news for the stock market first we had inflation weaker but also a weakening economy and that was clear from her retail sales number that came in below expectation that was when you got the good news or bad news is good news reaction from the market. >> also cooling overall you saw the gdp number for the first quarter and jobs this is a good sign for fed officials looking for the lower consumer demand coming down and controlling inflation a little bit better. andy: is a goldilocks situation, i know that's a cliché but right

now things are looking so good i'm finding bad pockets there are stories everything is great everything to you by works gold crypto, stocks savings accounts are yielding great numbers, too good? >> the market as well on sentiment and when it gets too much of what direction you want to think about going the other way and the little bit happening under the surface when you see utilities that a good week not the best but some of the best sector this month and they're doing fantastic and staples are doing the same thing another defensive sector, that's a little bit of the defensiveness going on even though some of that has to do with deals. another big story terrorist from the bottom of the administration what's up with that. >> the bite of the administration of raising tariffs on $18 billion worth of goods this is aluminum steel that we talked about before but

also semiconductors and medical supplies in the big issue is 100% hearsay announce on electric vehicles and 25% against ev batteries in the battery component this comes as we tried to tamp down the known inflation, inflation is usually a component when you sit there and talk about tariffs that can be attacks on consumers. >> this is the inconsistency of the biden administration policy on green energy we want to encourage adoption of electric vehicles putting a hundred% tariff on chinese elected vehicles i brought in the market and they have been blocking and development for another mining project which is critical to the green energy. they have been talking out of both sides of her mouth. >> it's an election year end the tariffs are playing into some of that but no doubt the chinese government is subsidizing

manufacturing vehicles and while no chinese branded cars currently we have seen this really taking place in europe so i think there's a get ahead of the situation before it becomes a situation scenario happening investigating india, brazil hit the chinese would tariffs this is something going around the world. >> summer elon musk i'm sure. >> we want to shift gears and ask you about the great mystery of the week on wall street are concerned warren buffett. >> we got news about the ministry stock that bursts under brookshire hathaway has been accumulating they requested confidentiality for the end of last year basically we found out what that stock is in brookshire has accumulated 6% stake in the big property cash with about $7 billion. buffett has been selling a lot

of stocks in the last quarter he was trimming apple and getting out of hp and paramount but it's a business he knows very well in brookshire has been involved for 50 or 60 years and is probably the best run most profitable leader in the pnc business. >> will he buy the whole enchilada crymac that's an interesting question i think you might like to buy a and is an elephant size acquisition that he's been seeking in vain and it valued $100 billion in brookshire has 200 billion of cash to play with and i think it be a good strategic fit for brookshire to make financial sense. is he interested in is seller both companies won't comment but intriguing confidentiality he turns 94 in august we doesn't have a lot of time to pull off the big deal.

andy: great stuff the global economy is limping along with rapid government spending is skyrocketing that world bank david malpass' warning about the risk and what can be done to im (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. (marci) so, how long have you lived here? (opponent) over forty years. (marci) and how are the restaurants around here? are they good, bad, meh? what's the average household income? is there a mall? i don't know. a hair salon?

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>> the global economy is facing the slow down as government debt levels continue to search the world bank projecting global growth to slow down to 2.4%, the united nation is out with an updated forecast expecting growth of 2.7%, my guest writing a wall street journal op-ed they are undercutting growth and could cause further slowdown

former world bank president david malpass joined me now, global government debt may seem abstract to many of us but spell out the problem and tell us why we should be concerned about it. >> there was a period when government was borrowing heavily in the u.s. of course still is in that props up gdp growth but it doesn't really create wealth for the long-term and doesn't create business investment and that's what's missing in the world economy now and it's especially missing in poor countries around the world which gives rise to the fragility around the world. andy: what is our responsibility, what could america do and what should america do about the problems it's really something on us to fix. >> i think it's for our own good and for the world's good and from our standpoint we have a

huge flow of capital into the u.s. government and it's making the decision for people's lives so right now they're making the decision to borrow short-term which puts a huge burden on small businesses, they have to compete directly with u.s. treasury and with the federal reserve to borrow in the short-term market, that means they cannot hire workers and they cannot reinvest in their businesses, our own good we need to do this and i think we have to recognize that one of our markets in the world is going to be foreign economies and what is happening right now the u.s. government is crowding out the whole rest of the world in terms of their investment rates. it allows the topline numbers to look okay but if you look underneath and small business are hurting in the u.s. so they

are abroad. >> let's switch over to the u.s. we sell numbers about the u.s. federal deficit. you are concerned as well but people are always concerned as is something finally coming home to roost. >> at tickets much worse now and you can measure that in terms of the national debt as a percentage of gdp so it has gone up and it's doubled as a percentage of gdp sense i first started harping on this in 1990, what that means the government is taking more than its share in doing it through taxation and through debt in both of those hurt small businesses it's a crowding out getting more and more intense and also goes into the regulatory as the government gets more and more money what they do is pop it into people that will write regulations to regulate businesses to make them get more of their money to the

government and i think were in a dangerous spiral right now. >> you said changes needed in washington but the stock market hit a new high and inflation is cooling and employment strong, what's not to like about that. >> be careful on the stock market, often times people are talking about the s&p 500. if you look at the russell 2000 it's been severely underperforming and that shows up in the small business bankruptcies, the difficulty of starting business and the mid-cap companies earnings growth has been severely hit by the rising interest rates so the big companies are able to borrow in the bond market which is favorably a bias by the government and the government is doing everything that it can to prop up the s&p 500 but that leaves the rest of the economy strained that's why we see so much problem with affordability.

andy: a quick last question. if donald trump is reelected would you anticipate he would get rid of an independent federal reserve? >> absolutely not there has not been any indication of that there was one story and one newspaper that was on source that said that but the independence of the fed is helpful because it allows the defense of the dollar and that allows the u.s. to grow faster than everyone else. we are in a giant global competition so having the fed do a good job is really important, now recognize they were way behind the curve on raising interest rates they stayed at 0 two long, that is part of what were paying for now but were also pain for government spending and regulation. andy: thank you very much for joining us david not pass, good to see you. the green push is gaining steam but the oil industry is not done yet where to invest in the energy secto

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>> the shift to green energy is in full swing for oil and gas as of role to play a top energy investment experts to breakdown the industry and look at ways to invest in traditional fossil fuels and renewable alternatives. it is the barron's cover story this week. it is interesting oil, renewables, waited they fitting together should you invested one, together, both, what is the big picture for the world business. >> things are doing decently if you look at oil prices, they are under $80 a barrel and probably going to stay around at 75

because you don't have a ton of production, u.s. is at record level but it will not be going much higher, russia which is pulling back on production in saudi arabia good about opec in line with not overproducing and as long as that going on in a time when demand is good to be higher in people are driving to the u.s. in one of our participants thought it was a 25% chance the oil prices could go to $100, right now it's looking pretty decent. andy: what about the geopolitics and wars. >> i didn't mention that because it's not having much of an influence right now it's partially because this is not the 1970s in the u.s. is pretty much energy self sufficient at this point in all of russia's oil which is not coming here is going to asia and it doesn't need to go through the channels that it did before in regards to iran and needs to be able to export the oil to so we will not do anything to jeopardize that, for now geopolitics is not priced into oil the all the panelists say

and let's hope it stays that way. andy: how do you play oil and gas. >> the energy stocks have been doing pretty well this year, the xle the leading etf is up about 15% which is topping the market many of the oil stocks are at or near new highs no bargains to be had but if you want to invest in energy i would consider the super major which is exxon, chevron, shell and bp in europe, exxon is the industry leader got an overweight rating from the morgan stanley analyst devin mcdermitt he sees the stock 140 live from 120 where it is now and rising cash flow and earnings in the coming years chevron has been out of favor the recently because they are trying to do has gotten hung up a 4% dividend in a reasonable

evaluation and european majors are supercheap, shell and bp eight times earnings, 4% dividend yields in the u.s. major, part of that has to do under a lot of pressure in europe from environmental activists and a lot of european owners know what i own it but there could be catalyst ahead in a potential merger of the two companies and some other positive developments for the companies right now. >> is there an a.i. play here? >> a.i. is helping to gas stocks because gas is used a lot for electricity production and using increased demand for electricity at least they would hope for and you have lng supply which will be ramping up in this country so you see stocks like eq t and big gas producers that are doing better and natural gas which was week is showing signs of light in the utility sector, the independent power producer by constellation has the biggest lead of nuclear power plants in the country had been on fire because basically companies are looking to basically get scarce power.

andy: meghan, renewables, used to be a thing, not so much. what is going on are there still places to play? >> i'm going to push back is a renewables are not a thing energy demand is up 2% and a.i. has something to do with that in the data centers there's been a significant shift in the power generation away from coal into new will bulls this is not just a young person talking about green energy, the shift is in the process of potentially tripling solar power in the u.s. by 2030, that is not priced in the most stocks at the moment. >> let's talk about stocks and investments in the sector. >> the sector is volatile and you have to be careful and play with the little bit of nuance butter panelists are bullish on the solar installer that we hear about and developer son ron lucas white mentioned, portfolio at gmo he like solar manufacture for solar and solar edge in the

bio field space that we were talking about darling ingredients and nest are some of the companies that he things are high quality with competitive edges. of course you don't just want to pick one player, you do need to pick a basket of stocks global clean energy etf might be the way to go. >> absolutely probably need diversity although diversifying this always happens. thank you guys, ben and meghan have a pair of investment ideas plus the bond king doesn't l (♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf.

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andy: now part of the show where we talk about investment, action

items. andrea i want to start with you and ask you about the bond market, tough times for fixed-income investors. >> bond set up the party most bonds are showing flat to negative returns and i might highlight treasury keep it simple around for a half% yield also mortgage security which don't get a lot of credit either half or 6% in speaking to bond kings you have the doubling over return fund which is a pretty good play on the mortgage market. >> speaking of the bond king and bill gross i was in california talking to him and he's the one who built pinko to the giant, 80 years old retired, there is bill gross but he does not like bonds is a bond bear markets always

looking for yield equivalents he likes mlps massive limited partners, oil and gas and some utilities that we talked about a.i. going on with con edison and dominion it's interesting to see a guy backing out of bonds. meghan i want to go with you and ask you about your pic here was sleeping european food giant. >> i'm stealing andrews pick in all given full credit but is looking at nestlé and i am as well as an interesting company, it is a sleeping giant as he calls it with this consumer goods behemoth includes nespresso, gerber and it's been a disappointment in recent years but the secure 3% dividend, it can't be too bad. andy: this is another yield equivalent? you also have that upside as well, food, i'm getting hungry do we have more food to talk about. >> more food or mel the maker of spam or mel has been a terrible stock but it jumped 15% after reporting earnings at the end of

february because it's finally doing the things that investors wanted it held onto the gain since then and earnings coming up at the end of the month it's looking really interesting take a look at her before the report. >> i want some more brands, did teamwork, applegate that is a healthy stuff. i did not know that black label bacon, skippy peanut butter. >> also your planters nuts. >> that is a great place to end right there is some nuts. ben, andrew, meghan, thank you very much. check out this week's edition of barron's.com that is all for us, see you next week on barron's the roundtable. ♪