racial and economic inequality in america. >> poverty and dysfunction we see in those communities can be traced to a very difficult history. >> reverend jesse jackson joins christine romans on "your money" which starts right now. protests in streets of america crying out against racial inequality away from the courtroom. there can be no debate. racial inequality exists. african-americans lag far behind whites. the u.s. is a country where the unemployment rate for black americans has long been double the rate for whites. 43% of african-american households own their own home. compare that with 73% for white house holds. the only color that should matter when it comes to money is the color green yet the economic

disparity between black and white is simply undeniable. in 2011 the median net worth of american households was more than $110,500 for whites, almost 18 times the median net worth of african-americans, about $6,000. that grab grew significantly in the wake of the financial crisis? why the disparity and what can be done about it? talking race in america is never comfortable. it's a discussion long overdue. reverend jesse jackson founder and president of rainbow/push coalition has seen it all from historic marches of martin luther king jr. to running for president in the 1980s to watching barack obama become the first african-american president today. nice to see you. an important conversation we're having about inequality of wealth. inequality money in america. what is the number one factor, in your view, the number one factor in your view, 50 years of progress we have not made

progress on money? >> we are free but not equal. as a matter of fact, free but less equal. i think one evidence was the housing collapse. we were targeted, stood and clustered based upon race. we won the lawsuits but the lawsuit did not compare with housing lost. in chicago, jobs out, the industrial collapse, a big factor in it. this past summer they cut pel grants, summer pel grants. last year, 800 students, this year, it has 500 summer pelle pell grants and where dr. mar ttin luther king went to school, it had to go on furlough during the spring break because lack of access to capital. lack of access to capital is a big deal. >> it's not one thing, it's a lot of things really propelled forward more recently by the housing crisis. when you look at the recovery,

even in the recovery, you see people with money, people with jobs, people with homes doing great. there's one group of america making a lot of money right now and everyone else is falling behind. >> the banks are doing better because they got bailed out. the insurance company is doing better because they got protected. those who got bailed out are doing much better. 21,000 auto dealership, 800 black dealerships five years ago now 200 out of 21,000. that's not the only one. black soft drink franchise. the stuff that make up the guts of middle america and then you try to get -- general motors has 4,000 dealerships, 2200 african-american. the whites who got those dealerships got them in per p perpetui perpetuity, you can't even buy them anymore. >> let's talk about social mobility that keeps me up at nights. this is supposed to be the land of opportunity. america, the place where your ambition is the thing that can drive you a talent and

opportunity america gives you. several recent studies challenged this notion. one report from puew finds socil mobility is on the decline. that means the u.s. is not the best bet to move up the economic ladder if you're born poor. the rich stay rich more often in this country. that sounds distinctly un-american. my question to you, feels like one america, two economies. is it racist dividing us about moneys or class? >> based upon race you have less access to education, you are more jailed. now, you have the case in chicago for example the prisoners, the county makes $3 million a year off prison collect telephone calls. the poorest people get the ca s calls. the other is prison labors on the rise, in south carolina 20% of all prisoners. some kids in cook county jail have been there 3 to 5 years

waiting for pretrial detention. what it means you go through a big new york town, i went through a month ago shows blacks and whites use marijuana the same level. blacks three to four times likely to be arrested. then it's more difficult to borrow and get a job and housing and scholarships. >> we know all those credit and background checks 40% employers do background checks. i kcan definitely see how that s something that holds somebody back. >> we do best on the football field. why do we do so well in those areas? because in those areas of life most americans really see, the playing field is even, rules are public. >> that's an interesting point. >> the referee is fair and playing field is transparent. >> when the playing field isn't even you can't score. >> that's an interesting point. what is the one thing we can do to take this moment right now, people on the streets, people talking about race, uncomfortable conversation, talking about it again and

inequality and looking at money and inequality. >> johnson opened the war on poverty in appalachia to deraciallize the debate. you have these hard working zones of coal miners. the area where the president was to organize it you cut public housing, close private housing, close post office, close all the dealerships, close trauma units, guns and drugs and jobs, and it's just a zone of wasteland. that's where you have the balance coming from. you need to target the jobs, education and transportation because if you live in chicago, if you can't get public transportation, because they cut it, you can't afford private transportation, jobs are -- you can't get the jobs as a disconnect with people trapped in live writing the jobs are and you simply can't grow. >> reverend jackson, thank you. the economy in black and

white, one america, two economies. the divide can often be drawn along racial lines. i want to bring in zain asher. zane recently spent some time in one brooklyn community. you saw this firsthand. you saw how people were stuck in it right now but really looking for a better tomorrow. >> i went and found a community that desperately wants in on this economic recovery. we know the s&p 500 is up 18% so far this year. we know jobs are coming back at rate of 200,000 a month. you go to places like this and they will say to you, when i get rejected from a job, is it because the name on my resume was javon that it wasn't even looked at? absolutely heartbreaking. i spoke to one guy trying to change that. his name is martin allen, spent 30 years in jail for robbery. said i made some mistakes and it's my job to help young black men and women find work. >> reporter: stocks hitting

record highs, housiing recovering, unemployment falling but much of black america left behind. >> what we see everyday is people struggling to put food on the table. >> reporter: at 13.7%, african-american unemployment is more than double the rate for whites. martin allen is trying to change that in his low income brooklyn community after turning his own life around. >> i was in prison, finishing up a sentence. i saw my stepson come through the same prison walls that i was in. right then, something went off in my head to say enough is enough. >> reporter: he started his own construction company and began offering training classes, opening his doors to the homeless, ex-cons and any else interested. he estimates he's placed more than 2,000 people at job sites around the city. >> it changed my life dramatically. as a mother, i felt like there was nowhere else to turn. i was stressed out, crying, i

didn't know what else to do. >> reporter: learning what else to do is where financial advisor ryan mac comes in teaching people in this community about saving and investing. >> they really think it's not for me. i can put money under my mattress and continue to use this check cashing place. >> we don't see how the market is going up. we don't see that point. all we're getting is what comes down hill,s which the crumbs from the rich man's table. >> reporter: even middle class blacks lag behind whites when it comes to investing. a 2010 survey of households making at least $50,000 a year found 79% of whites were in the stock market versus 60% of african-americans. the housing bust made catching up even harder. african-american households lost 53% of their median net worth from 2005 to 2009 compared to just 16% for white house holds. with housing stabilized, max sees opportunity.

>> how can we get in on this recovery? the first thing we have to do is start establishing credit immediately. start paying your bills on time. you have to start budgeting, start getting a stable job. >> reporter: a stable job like the ones in construction martin allen hopes will be a bridge to something better. >> we try to tell all the people, look, go to work right now but use that as a stair step to take you to the next level. four, five, six carpenters can get together and form their own little company. >> reporter: as i was leaving the interview, one guy tapped me on the shoulder and said we all heard of trickle down economics. why isn't this recovery trickling down to us. another man said he was 47 years old when he opened his first bank account. on one hand you have stock market highs benefitting the upper middle class and the other hand, 25% of african-americans don't have a bank account. >> more people are living paycheck to paycheck in america than exposed to the stock

market. >> more jobs coming back we talked about are low wage jobs part-time. it's not exactly a fair recovery. >> thank you for that piece. up next, the motor city goes bankrupt, what this historic filing means for the people of detroit? >> a percentage of our wages every year into that. it's not something being given to us. it's our money. you know throughout history,

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detroit. detroit was once the wealthiest city in america. it world war ii it went from manufacturing cars to manufacturing airplanes, ammunitions and tanks. literally, the people and the industry in detroit changed the course of history. and thursday, this week, after

years of manufacturing job loss and economic decay, the arsenal of democracy filed for bankruptcy. cnn's poppy harlow has been covering the story from detroit. she joins us now. how does bankruptcy work for an entire city? this is the largest municipal bankruptcy this country has ever seen. >> reporter: that's right. this is the largest municipal bankruptcy by far in the history of this country, 18$18.5 billio in debt how red in debt this city is, unprecedented. the way it plays out in court is yet to be seen. what we do know is this will mean pretty steep cuts for bondholders here but also likely cuts for retired and current city workers. their pensions and their health care benefits hang in the balance. that's what so much of the focus has been on here in detroit today in the wake of this

bankruptcy. what is it going to mean for people counting on those pension checks to come in. here's what kevyn orr, the emergency manager of the city of detroit who made this decision along with the republican governor, rick snyder said, look, people have to take these cuts in the near term. but in the long term, what you will have is a city that gets back on it's feet. you have 78,000 abandoned homes here. 40% of the streetlights don't work. the average response time for police officers is 58 minutes. it's unacceptable. what they're saying is we can't pay what we promised. by not paying all that back we will eventually have more money to put into city services. that's this upside but there is pain to get there. >> so much pain. what it means for city pensioners and retirees and active duty city workers as well. you're talking about firefighters who breathed smoke spore 20 years and put bbq b-fo

years and their pension and everyone has to take a haircut. >> reporter: we don't know the numbers. that will be fought out with lawyers in court over the years. i just interviewed the manager. i said is there any way to get out of pensioners making concessions? he said, no, they have to make concessions whether pensions or health care benefits. i calling up with some people down here upset. one is janet who worked for the detroit libraries for 32 years. i put in my part of the bargain, they need to put in theirs. she's so angry, she's among some of the retirees trying to sue to block this. here's what she told me. >> reporter: we are now in bankruptcy. >> i guess my pension is in jeopardy. >> reporter: in jeopardy. >> which means to me serious repercussions for my life. >> reporter: like what? >> i believe at this point it would mean i would lose my home.

>> reporter: your home? >> you know, like some people, i have a very large payment on my home. it's not an outstanding pension, it's a pension i can live on comfortably, accompanied by my social security, and, yes, my home's in jeopardy. >> reporter: these are real people with really big concerns, christie. i talked to a retired police officer here. he told me this is a mess and we will fight for what we are owed. >> this is such a sad sad story. we'll focus on this in the protest and talking on this program and you, too, what some of the business owners and people in detroit are doing to try to lift their city up and there are a lot of exciting things happening. coming up, do you know what this is? your kids do. not the latest digital device. this is an electronic cigarette. is it safer than the alternative? dr. sanjay gupta joins me next.

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the old-fashioned marlboro is getting competition. if you look closel you might notice more people puffing on electronic cigarettes instead of the real thing. following this growing trend. >> when was the last time someone lit up next to you in a restaurant in new york city. can you even remember? that may be changing because of these. electric cigarettes. sales are soaring and big name investors are getting on board. ♪ you've come a long way baby >> it's been decades since cigarettes like virginia slims were considered trendy and fashionable and men like this could light up at will and given a carton of cigarettes was considered and appropriate holiday gift. >> it looks so bright and colorful under your christmas tree. >> reporter: now with disaster posted on every pact, a new gen

ra genration of smokeless cigarettes is gaining support. >> this is remarkable. >> i know. >> and heating up a smokeless vapor and to some in the health industry who worry about their safety, sales are rising. e cigarettes are expected to double this year $1 billion market with dozen os of brands to choose from. investors who used to smoke out opportunity in trendy dot.coms are smoking out start-ups. sean parker is among the investors pouring a whopping $75 million in into enjoy, one of the leading cigarette makers. bedford slims, a smokeless cigarette starter based in brooklyn is attracting interest. >> i started with a $5,000 investment and i raised about $15,000 during the course of the year. >> reporter: don't think big tobacco isn't sniffing out an opportunity. >> today, we're unveiling a transformative product, digital

cigarettes. >> reporter: the makers of camel, winston and sal lem cigarettes rolled out views. they're not worried they will turn away from traditional cigarettes yet. >> there is no cannibalization. we have to provide smoke-free alternatives. >> reporter: smoke-free alternatives are only lightly regulated by the government. there's nothing stopping them from being advertised on tv and magazines. without government intervention, big tobacco may be back on the air waves in a real way. >> it is confusing because they look like cigarettes. some people think it is great. this is a way they can safely smoke or get them to switch from traditional cigarettes although the companies themselves are careful not to make that claim. former smokers said it took me so long to break that habit i don't even want to open the door a little bit. a lot of debate. >> the packaging is click like a

lighter and -- the tactile experience. >> concerned about minors seeing this, issue, bringing back the cool to smoking people worked hard to separate out. >> thanks for that excellent point. e cigarettes are growing more popular. what are the health risks? i want to bring in dr. sanjay gupta. give it to me straight. are they safe? should users be wear? >> since 2007 when these have been out, they haven't really registered health complaints. that's not surprising because sometimes it can take time to register these health complaints. the real answer we don't know because this isn't regulated like a drug. typically if you have a drug, you have to prove and go through safety trials ahead of time. something like this, the product gets out on the market and if health complaints start to come in, it is subsequently investigated. when we looked into this, when you talk about tobacco, you're talking about lots of different chemicals, heating them and

lighting them and potentially releasing cancer causing qualities of them the concern. here, you don't have many chemicals. you may have nicotine and may have chemicals that cause the vapor but still not enough data. >> so much, like the click of the top almost sounds like the old-fashioned lighter, the look and how they feel and faintly how they smell. could they be an effective aid to help people quit smoke like the nicotine patch or gum or something people could get addicted to, people start trying maybe wouldn't have been a smoker and they like it. >> i worry about the latter part what you're saying. there's two reasons. one will surprise you. you mentioned the nicotine patches or gums, those are designed to give you a certain amount of nicotine and taper it off. that's how you get off smoking, the goal. here with the e sigs, it's not clear how much nicotine people

are getting. some of the researchers we talked to said it was every ten puffs they are getting nicotine. most is vapor paid up of things like propylene glycol for example that needs to be investigated more. i'm not sure it's a very effective smoking cessation device. in part the surprising reason it doesn't give that much nicotine, the brands we looked at. >> a trend to watch, financial trend and health trend. sanjay gupta. don't miss your appoint with dr. gupta every weekend, saturdays, 4:30 p.m. eastern and sundays, 7:30 in the morning. coming up, not everything you do on your cell phone is privat private. >> you should assume everything you are saying is being intercepted. >> that's what some hackers say. how to protect yourself next. t for bringing us together. find out why more than two million members

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it's a popular technology for extending cell phone coverage and it had a major security hole that went undetected for years. so joining us, hi. >> it happened in a network device. a network extender is something you take in your home if you have bad service and put it in there and get better service. spoke with a bunch of hackers. this is a verizon device who were able to tap into it and see basically everything you're doing on your phone. i want to show you how they were able to hack my text messages first of all. check this out. i've got a phone right here. i can text your phone and you can use this and intercept and see exactly what i'm text messaging. >> we see your text message after it leaves your phone, before it reaches the carrier and recipients phone. >> i will text him now. i'm sending it. >> before my friend gets the text, these guys are reading it on the computer.

>> you can see right here, looks like an outgoing sms from this identifier sent a message to this phone number with the message, hey, what is up? >> you can see my face right there. i'm clearly shocked. you will text someone and some guy in a room with a computer is exactly intercepting that. i will say it got even worse. i was asking what else can due? they can look in your browsing history. i don't know if you ever looked at your bank account statements with your phone, they can do that. he was able to record one of my calls. check this one out. >> what else do you got? >> how about a voice call? >> let's call. hi, andrew, how are you? >> i'm great. how are you? >> i'm good, i'm good. >> i'll play it back for you. >> hi, andrew, how are you? >> i'm great, how are you, laurie? >> whoa. the idea you could be walking down the street and call family member and someone could record

that conversation, very eye opening because this flaw existed for years and people could have done this. how often do you send picture messages? quite a bit. they were able to send a picture i sent to someone before it even landed on their phone. check this one out. >> you can see pictures if i text someone a picture, right? >> right. let's do a picture message. >> all right. >> your phone used a picture to send a data message. we intercepted the data connection, logged it, grabbed the picture out of it and showed it on the screen. >> what does verizon say about this? >> they said it was fixed. the demonstration cnn saw was for an identified issue that was fixed earlier this year and it prevents the netted work extender from being compromised and there were no reports of customer impact. if you do have one, all i can say is make sure to update your

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another week, another record high for stocks. but are you missing out? i'm kristichristine romans. this is your money. did you miss your chance to run with the bulls? not those bulls. i'm talking about the bull run in your investment. 20%. that's how much u.s. stocks have climbed this year. a 20% gain in any other aspect of your life would certainly get your attention, your weight, your paycheck, your gas prices. but your stock portfolio, perhaps the only way to build

wealth in america right now is on fire. that's only if you're invested. the problem is half of the country is not invested in the stock market. maybe you're still scared the bulls are going to gore you? that's what the last recession felt like. plus, good paying jobs are scarce, wages stagnant. extra money to invest is hard to find, i know. what if you had a million dollars? >> i would put all of it into one stock and invest administer aggressively. >> i don't really follow it so i don't know what's going on. >> i wouldn't invest in the stock market. i don't feel secure in the stock market in the united states. >> i keep the money under my mattress. >> under your mattress! most of us don't have a million dollars to invest unless you have high interest credit card debt. but you probably can put some money to work. it has to be tailored to your needs. keith is a friend of the show

and money manager. what are your friends asking you now? are they scared? use another metaphor. kids with a bowl of jellybeans that can't stop eating right now? >> the reality is the base of answers you just had there is quite representative of the institutional basis. people are still scared, precisely why the stock market keeps going up. people are fighting last year's war. you made another great point. if your weight was up 20% you'd have issues with that. in this case, the stock market is up 20% for the right reasons. jobless claims on the downside and stock market on fire. in terms of real economic advice or your portfolio, you have to get out of bonds. that's another thing people have to pay attention to. sell bonds because growth is rising and something people should not lose money. rule number one, don't lose money. >> so many people said what should i do with my 401(k), up 11 to 14% this year.

the end of the world trades like gold and bonds, people should be scaling back their bond exposure? >> we've actually told people to sell their entire bond exposure, the biggest risk so far. if the biggest risk is perversely growth, that's fear itself. if you're down 25% you're long bonds and losing money you have to get out of that stuff. if you want long growth, sell bonds. >> we just got free financial advice from keith mccullough. annie is a reporter from the "new york times." something interesting, ben bernanke talking about how congress is holding back growth. the first thing he said in his testimony this week is congress is holding back growth. congress budget, the sequester's future. raising the debt ceiling, all

these things. will congress get out of the way and not be a roadblock at some point? >> at this point, it seems very unlikely they will do this trillion dollars in cuts called sequestration, $85 billion this year and keep on for the next decade. there isn't a lot of motivation on the part of congress to get rid of those. we have to raise the debt ceiling this fall, around halloween and maybe it is a trigger to get congress to take care of other issues, tax reform and fannie and freddie. right now, congress is really stymied and not a lot is getting through. they started on immigration and that stalled out. they have to act with the debt ceiling and the hope is that spurred them forward to get past this lack of momentum they've had. >> the fed chief bernanke this week said the plan to pull back on stimulus is dependent on the economic recovery. does that scare policymakers in washington who have the wind of the stock market at their backs

at this point? >> it hasn't thus far. ben bernanke said this before, the fed is pushing on the accelerator as much as it can, buying assets and desperately trying to get investors to invest and the economy is looking better but not much. the growth is fine not great. it won't bring the unemployment down really really fast. ben bernanke wants congress to do more. they've been recalcitrant. they haven't listened to him. it seems unlikely congress will go on a spending time any time soon and deficits remain high because where we are in the cyclical recovery. >> keith, let me ask you with macro and global issues, should people be more worried when to get out of this dream run or how to get in if they're not in already? it's a really interesting time to be talking about your position in the stock market and these big asset qulasclasses. >> the reality people are in two

asset classes and get out of bonds and get in stocks. if you missed it, you missed it. get over it and get on with your life. at the end of the day, you go back to what bernanke is doing. to a degree, it's fear mongering itself. i think washington's actually scared of growth. for him to blame policymakers, you know if he just got out of the way and got on with it. if the tapering, got on with it, you know what would happen, dollar would strengthen and interest rates rise just like we saw in the 1980s and 1990s and everyone wouldn't spend their day being worried. that's a top down central planning issue we need to get rid of and get confident and we need to let markets clear. >> thank you for your perspective. see you soon. what else happened this week that matters to your money? give me 90 seconds on the clock. it's money time. >> corporations are sitting on record piloes of cash.

don't expect to see it in your paychecks next year. employees can expect raises just under 3%. the hardest working country in the world is mexico, followed by chile and korea. mexico workers log about 500 hours a year than american workers for a fifth of the play. mcdonald's workers may want a side of fries but they told the food company, hold the advice. the financial guide advised getting a second job, offered no budget for food and allocated just $20 a month for health care. five years after the wall street meltdown, ira balances are at a five year high. the average kitty more than $81,000, up 53% since 2008. the agency set up to protect consumers in the wake of the financial crisis is finally getting a leader. congressional republicans stood in the way of elizabeth warren's brainchild for years. >> this is not the case.

>> so she beat them and joined them by winning a senate seat in massachusetts and this week, richard card drordray was final confirmed by that same senate as the first director. remember skechers shape-ups. they have to pay-up $40 million for falsely advertising those shoes would tone your booty. coming up, buying, selling or pawning, this guy's negotiating skills are hard core. >> i'll give you the whole package, everything including two chain saws, four nail guns, golf clubs and crowbar, 800 bucks all together. >> sounds good. >> thank you. i'll have my guys write you up. >> les gold from hard core pawn teachies me how to get a deal. a. book a great getaway now

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for some the yeast way to make a buck is to sell their

stuff. this guy is ready to talk numbers if you have something he wants. >> some old liquor bottles. some old albums. stamp book. don't you think it's worth something? >> no. a whole lot of nothing. >> i told you it wasn't worth nothing. >> you need to watch your trap because this is worth everything to me. >> it don't matter, they don't want it. >> it's only worth what someone will pay for it. others stand a better chance at big money. >> i have a compass here. my mother has a friend who gave her this early century compass. >> how much did you really pay for -- really take for this thing? >> $150? >> okay. how did you come up with that number? >> well, i don't believe there's a great many out there. >> let me go see. back in a second. >> how much was that thing worth? >> $30? $30. >> les gold is sthaer of "hard core pawn" on our sister network trutv.

and businefor what it's worth, business wisdom from a pawnbroker. how to do business, negotiate, be a good negotiator. when's the number one rule? >> be a good negotiator. >> how? >> very simple. three easy steps. emotion. selling something, bring the emotion out to the buyer. as the buyer, have no emotion. you will pay too much. know your bottom line and know when to walk away. that's any kind of deal. >> everyone, no matter your deal, you must know how to sell. >> well, you need to know how to negotiate whether you're a seller or buyer it is all the same thing. >> how do you remove the emotion from the sich weigh? the woman in the clip. this means something to me. you are telling me it means nothing. >> i'm emotionalless. when people come in, they try to get the emotion out of me and

make me believe and want to buy it. i have to look at it as a business perspective. i have 50 employees. they need to get paid and pay the light bill and the rent. so every deal i make is strictly a business decision. >> imagine if you work for les gold and trying to ask for a raise. from a guy that knows better how to negotiate. i'm trying to negotiate a raise at work. what is your advice? >> go in with a number. don't depend on your boss to give you the number. if you're making $15 an hour, go and say, i should get 16. >> shoot higher than you think you're worth? >> that's a decision you have to make. give the reasons why you want the raise. i'm a better employee. i have done "x" and "y." >> bring the evidence. >> exactly right. make sure that you have bullet points. tell the employer why you should get the raise. >> do you think men and women

negotiate differently? you have a daughter and a son who work with you. do you think women are not as good negotiators as men? >> i do not. they have to believe. you have watched the show, watch ashley. ashley learned from a great professional. me. she knows exactly how to negotiate. that's the key. it doesn't matter male, female. makes no -- >> sometimes women feel like they come off brassy or aggressive if they say this is what i'm work. statistics are clear. men are more likely to ask for more money from the first job than women and i say in my book, course of the career,omen make $500,000 less because she didn't know she could ask for a raise at the first job. >> that's what you said. they don't have the confidence. you must have confidence. you have to believe. in my book i talk about believing in yourself. making sure that you understand how important you are. i talk about my janitor. you know? here's a guy that works for me.

came to me homeless. he wanted $20 for a bracelet. i gave him 200. one of those things. i gave him an i don't know the next day. he cleans the bathrooms and so proud of it, the way he does it, that's what you have to do as an employee, give 110%. >> your store is in detroit. you travel around the country. a bit. what are you seeing out there? what are you seeing about how people are feeling? when they come to you, i mean, they come to you because they need money, because they're some cases pretty dire straits. >> not necessarily. they ant a great deal. >> they're smart. >> they're smart. that's key. you want the greatest deals. go to a local pawnshop. that's where you get great deals but traveling around the country, the economy's slowly getting better. >> you think so? >> i say that because my loan line is shorter. retail sales are still iffy.

because the price of gold has gone down, it's a viable option for people to buy. gold at $1,500, $1,800 it was difficult. >> i'm looking at you. you're worth less than. >> i'm always les gold. >> we hit the streets of new york for a lesson in hard core negotiating. watch les show me how to get the best price for a bracelet. i learned a lot. up next, les is more for a growing number of beach goers. the speedo has lots of fans and not everyone's taking the plunge. we'll tell you who's still holding out.

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with summer temperatures hitting sweltering highs, many americans are hitting the beach. expedia released an annual flip flop survey, the best and the worst of the beach according to beach goers, different countries have very different ideas of what's shofun at the shore. here's our richard quest. >> reporter: the flip flop survey is a fascinating account of how we all like to spend our holidays. what a diverse lot we are. 17% of germans have gone nude on the beach.

while 34% of norwegians find something skimpy like the speedos quite acceptable. other countries like the french are also partial to something like this. whilst most other countries particularly the americans want something more robust with gusseting. 90% of germans love to swim. and 52% of indians, well, they like to make sand castles. when it comes to our fears on holiday, 54% of americans fear that their wallet will be stolen. 85% of singaporeans fear sharks and some fear drowning. put it altogether, with fears and skimpy speedos, it's quite amazing that anybody ever manages to have a break. richard quest, cnn, on the

beach. we're here every saturday 2:00 p.m., sunday at 3:00. until then, find me online. that's it for me. hello, everyone. i'm fredericka whitfield. a look at the top stories this hour. a suspected serial killer is in custody in east cleveland. police believe he may have murdered three women and there may be more victims. details straight ahead. investigators in texas try to determine what caused a woman to fall to her death from a roler coaster. we'll tell you why she was scared before the ride actually started and what you can do to stay safe on those rides. and lefty, takes the british open. see mickelson's huge comeback and tiger woods' big fall.