hi, everyone. welcome to "on the money." i'm becky quick. getting ready to ring in the new year with two with of the smartest guys in the room. the biggest disruptions from 2015 from the way you pay to the way you drive. walter isaacson weighs in. global hot spo what happens to oil, russia and europe next year and what it means to you. s our conversation with thomas friedman of the "new york times" and happy returns. what to do with the izod sweater with the strange size or the thing you will never use. "on the money" starts right now. this is "on the money," your money, your life, your future. now becky quick.

>> those stories in judgment but first the stories in the headlines th >> thank you, becky. here's a look at what is making news as we head in to a new week "on the money." investors got a nice gift this year. in the santa claus rally. i stocks made history with the dow closing above 18,000 for the first time ever on tuesday du the holiday shortened week. the s&p hit a record, as well for the 51st time this year. that's a record. stocks powered by a strong economy in the u.s. and easy money from the fed. the markets continued to rise and set new records on friday. america's economy is powering along at a stronger pace than expected. a blowout number for the final reading of the third quarter gross domestic product came out this week. it showed the economy grew at an annual pace of 5%. that's the fastest we have seen in more than ten years. consumer spending and health care led the way. and if you are looking for signs of inflation in the economy there wasn't much in a

traditional christmas stocking. the pnc, consumer price index found the price of the gifts mentioned in the 12 days of christmas rose only 1%. the total $27,000. the biggest jump was a big one, though n the price of geese a laying. $360 from last year's total of $210. that's inflation. happy new year, everybody. now back to becky with the rest of the show. >> thank you, bill. with 2015 days away we are focusing on the business trends and innovations that we could be reporting on in the new year. what better guide than the author of the innovators and steve jobs legacy, steve isaacson. >> who do you think the disrupters, where will they come from next year? >> i think part will come from the industry so well which is financial services and banking. it takes four days to move

money, sometimes if you are an average person to use things like checks and credit cards have transaction costs. i'm looking for ways people will be able to transfer money pretty quickly. people will be able to buy things on the internet and some forms of cybercurrency building on the more narrow bitcoin craze that hit a few years ago. >> those sound interesting, i believe in that. is that something you use right now, mobile payments? >> i use all forms of mobile payments and have a card which means i can give not only my daughter but also younger friends, kids from new orleans who are struggling after the hurricane, you know, i can give them something that is a visa debit card where i can put the money on it because they are unbanked. i know most of us watching shows like, this we don't think of people who are unbanked in society but want to be part of the economy. it's like globally. once you open the market to the

next billion people coming on-line and the next billion people who can make, you know, cell phone, text payments and that sort of thing, i think it changes the economy quite radically. >> let's talk about a story we have been following the last several months, the massive decline in oil prices. that's throwing off kinds of ripples in to the economy. i wonder how you think it plays out in 2015. >> for two reasons, one we have an oversupply and smaller demand than people thought and also for geo strategic reasons it was clear dau saudis weren't going to cut production because it helps their geo strategic goals right now to have lower oil prices. every silver lining has a cloud and the cloud, as saudis know it will kout cut back on fracking and alternative energy in the united states. this is hugely important in our attempts to contain russia and putin's ambitions.

so loi low oil prices are great for the american consumer, great for american geo strategic interest but not good to develop alternative sources. >> what happens? does that stuff fizzle out and go away or do you think it has staying power? >> you take elon musk, one of the great innovators of our time. he is doing batteries and electric cars over the medium and long run we all want batteries and electric car cans even with oil prices low it is no longer in our dna to want to drive around in suvs and hummers and burn gasoline. so i think you'll see alternative transportation fuels. obviously unconventional sources of natural gas is huge for this country. i hope we will start to export more oil, exporting liquified natural gas. this will be a great thing for our country and that help us fooirnltd find ways to do things

like solar, wind, batteries, new electricity. we'll become a more innovative nation as we experiment with other types of energy production. >> who are other innovators you would watch alongside elon musk? >> i was reading "fortune" magazine's piece on larry paige. not some google and larry paige a good innovator but when i talk about how steve jobs disrupted the computer industry or whatever, i think can a big, established company be innovative and disruptive. i like how google looks for ways to be innovative and disruptive. we had a lot of social media plays over the last ten years. maybe the next ten years will involve physical objects like batteries, but also health care, disruptive ways to use big data in health care to do

pharmaceuticals. things that kbnt done in a garage or dorm room but will take collaborative innovators. >> i wouldn't have put north korea on the list until the last couple can of weeks but what they have done is phenomenal, a mass eu wakeup call to american business that look out. you better get your house in order and you are protecting your information. >> not just american business. we need to develop the next set of protocols, next set of rules of engagement that we're going to use for cyberattacks because this is not an attack on sony pictures. it's not just an attack on american business any more so than a nuclear missile or conventional missile of hitting a shipyard in new orleans would be just a business attack. so our nation and the west have to figure out how we can have rules of engagement, just like for nuclear weapons and for many other chemical, biological weapons. sometimes people break the rules

of engagement but we need to know what we will do as a nation when people attack us. >> another thing we need to figure out is how we are dealing with cuba. the president kicked things off with changing and opening the relationship. how does that look for business and who comes out on topper? ? >> i think it is wonderful. i have been to cuba many times as a journalist with "time" and cnn. it is an interpret nurial country. every time you walk around old havana you see the restoration of the city. i thought it was wacky to try decade after decade something that wasn't working which was, you know, the sanctions and the isolation of cuba. instead you send american express, hilton hotels, time warner cable, american businesses in there and obviously it bends the arc of history towards freedom and that country will open up.

there are a lot more repressive and tightly held weird countries in this world. the notion that we were going to continue to isolate cuba and keep american businesses out of there seemed strange to me. i think it is the worst thing to happen to the castro brothers. i think once american business gets in there it will be like it was in the '40s and '50s a thriving sglield always a pleasure to talk to you. >> peck i can, thank you. up next we are "on the money." what will the world be watching in 2015. we will look at the global hot spots with thomas friedman of the "new york times." and later, why do you have a receipt will be one of the most asked questions after the holiday season. what you noud show to make your returns simpler. don't worry we won't tell them you are returning them. as we go to a break look at how the stock market ended the wee ♪ ♪

♪ >> looking ahead to 2015, what are the big stories we are watching around the globe? "new york times" foreign affairs columnist thomas friedman is joining us right now. his book is available in paper back. thank you for being here. >> great to be here, becky. >> there are so many problem spots around the world i'm not sure where to begin. if you had to put your finger on the worst what would it be? >> no question. >> russia. it is led by a man lying to the world and himself. dangerous combination. >> what is he telling himself that is incorrect? >> something deep and profound about this moment. putin believes in spheres of influence. this goes back centuries. russia is entitled to sfeers of influence on its border and it has a view of it like an honorary degree. something you can hang on your

wall. this may be true of millennia but not today. today we have people of influence. what you see in the clash between ukraine and russia today is i think the most classic modern clash between these emergent people of influence in the square of kiev and this guy with a 119th century of sphere of thinking. >> that's an interesting point. the idea of dividing the world up. this is the new map, redraw it. >> what am i, some part of a flock of chickens that you can hand over to your vice president or son? they don't buy it in cairo and they don't buy it in kiev ooet sdpler the difference today is technology allows them to exert their voices. >> that's right. emergent citizens and the that's something he doesn't understand. she fighting the market, mother nature and moores law all at the same time. he is fighting the market. not a good year for oil.

fighting mother nature. bet his future on a natural resource that if we burn it all we will burn up the planet. fighting human nature. people in ukraine are looking at poland, their four times our capital income. we'd like to be more like him than this guy and he is fighting moores law because technology is driving down oil and renewable prices at the same time. that's not a good bet. >> it is not a good bet. he has suffered, his people suffered in terms of the economy. >> nationalism at $110 a barrel and $54 a barrel are two different things and i think we will see that. >> if we look at oil prices i wonder where you think the spillover effects are. it has been great news for consumer and will continue to be so. i don't know how that changes the geo political map. >> just got a tax cut. certain countries that have paid

a long bet on oil will be under pressure. this year, we will see a lot of geo political moves. already saw one recentry with cuba and america basically upgrading their relations. that's about cuba being dependent on 100,000 barrels of oil a day from venezuela. >> do you look at the changes with optimism for 2015 or nagging fear in the back of your head of the unknown and what happens? >> i think it will be net optimistic. the price of oil and personal freedom operate in opposite directions. price of oil goes down, price of freedom goes up. i think we will see that. >> i know you are the foreign affairs columnist but you watch what happens here in our political system too. we just got through an election and seems like we are back on the cycle for 2016. >> the president has taken with

his regulatory powers, struck a climate deal with china, a new diplomatic deal with cub and announced she on unilateral immigration reform. the initial reaction from the republicans hapz been hostility, grumbling, impeachment, all kinds of things you hear in the air. this is what i feel in my gut, americans like this. whether they like this specific policy i can't say. but they are tired of gridlock. president obama will get a bounce. this guy is acting, doing something, moving somewhere. >> do you have people you are positioning in 2016 in terms of who the front runner will be. >> it is too soon to tell. i think this year will be an a unusual year for both geo politics and technology. think of how we are ending 2014, seeing stuff -- every day a new hack, another dump of privacy. 2015 could be the year this accelerat

all of this cyberstuff. who knows what kind of candidate and issues that will produce when we are hopefully sitting here a year from now talking about 2016. >> i talked to "time" and talk aed about her magazine's voice for person of the year, which turned out to be the ebola caregiver this year. she said it is a parlor game where you try to figure out what is the most telg influential person on the planet for the year. if you were trying to put that tag on someone, who rises to the top? >> i think the person is the guy that basically invented the internet. it has gone farther, faster, deeper, cheaper and taken the world from connected to hyper connected and we see it more every day. it manages itself now in economics and politics and society. this is the big change. we're in the middle of i think a

glutenberg scale shift in how information is gathered and turned in to products itself. but this played out 200 years and this is over 20 years. i don't think human beings our ability to adapt is not good. >> i will admit. even trying to use cell phones it changes faster than i can keep up with. >> our kids as well. up next, we are "on the money." sweaters that don't fit and

christmas is over and the presents are open. it is the tough time of the year when you decide which gifts to keep and which to return. the companies have made policies more complex over the year. sharon epperson has good news for your money, your future about how to make returning gifts hassle free. sharon, has it gotten tougher this year? >> there are some restrictions with some retailers. overall a, yes. you have a little more freedom and easier return in terms of the amount of time you can take the gifts back and how much you have to pay if you have to return ship them. you need to be aware of restrictions. >> i worry about that. does the countdown clock start when someone buys the gift or

what if they buy it 30 days ahead before christmas. >> some retailers it will last until the end of january for return policy. that is lenient for what many have had in past years. the other thing to keep in mind is when you return the gift you have to think of whether or not you have to pay for it, particularly if you bought it on-line and some retailers offer free return shipping. they will pay for the postage and others will say yes but only certain items. check the fine print and the policy of the store to figure that out and maybe stricter returni electronics more than clothing. >> i guess electronics age. like buying a car and driving it off the lot. less valuable every minute it is off of there. >> exactly. >> are there ways to cut through the stress? >> first is to understand the store's policy so you are not frustrated when the road blocks come up. keep the gift receipts.

if the person went through the trouble of putting it x, hang o. if you get two things, you can return one of them and keep the packaging for electronics. keep the boxes and packaging, particularly for electronic it will b tough to return them. >> is there an app for this. >> there is a return. return guru. take a picture of a receipt and a it will keep you up to date by what time you have to return it. another is slice. if you give them access to your e-mail address they will take the on-line receipts and track those. the other people are doing are gift cards. you may not want the gift card. what do you do with it? can you get cash for it? >> yes, you can. >> really. >> an on-line service that lets you buy and sell gift cards. that is something to consider seeing if you can get cash for

the gift card. >> thank you, sharon. up next "on the money," a look at the news for the week ahead. americans are always looking for something. but what were we googling the most this year?

for more on our show and our guests go to our website and on

facebook and twitter. the case schiller home prices for october comes out. consumer confidence report is released on tuesday. on wednesday, pending home sales for december and the countdown begins. wednesday marks the 107th anniversary of the first new year's eve celebration in new york city's times square. ♪ should old acquaintance be forgot ♪ >> happy new year. first day of 2015 and the markets are closed to celebrate. on friday, manufacturing numbers index figures for december. finally, if you want to google what people were googling this year, this is what you would find, most searched for robin williams who committed suicide this year. world cup, most widely viewed sporting event two. ebola and malaysia airlines and flap pi bird rounded out the top five. happy hunting for 2015.

that's the show for today. i'm becky quick. thank you for joining me. here's some of the people that put our show together every week. some of the best in the business and i can't thank them enough. i will see you next weekend. ♪

>> who caused the biggest scandal in hollywood? kim and kanye million dollar wedding. celebrity split and who has already moved on. 2014 was a very busy year. hi everybody. welcome to "access hollywood". and our special 2 2014 year in review round table wrap up. i'm shaun robinson. let's start with the scandal and controversy that dominated the news and here to discuss i have my friends brian and cheryl lee we are going to start right away. just right into this with the story that keeps getting worse. and that is bill cosby. first of all, cheryl let me start with you