decisions this week c.n.n. suspended one of their political contributors his name is roland martin for making a series of off color tweets and here they are the first one is if a dude at your souple superbowl party is hyped about david back h. and m. underwear ad smack the issue out of him that is with the hash tag super bowl the next one ain't no real brother is going to buy some damn david beckham underwear also the super bowl hash tag and i think this is the one that started the most controversy who the hell was that new england patriot they just showed in a head to toe pink suit oh he made needs a visit from hash tag team whipped at ass. so there he was suspended this guy was suspended for these tweets but this is the same network that allowed one of their contributors to publicly condone peeing on the dead taliban i

think we have that that clip can someone explain to me if there's supposed to be a scandal that someone pees on the corpse of a taliban fighter someone who was this is part of an organization murdered over three thousand americans. i drop trial and do it two that's me down short on time so the first case led to someone getting suspended but the second case it seems. that the ball how does that make that well i mean roland martin is in a pretty small brotherhood of african-american journalists here in the united states i mean i know him a lot of people my friends know people line up on weird sides of this but the bottom line is this and this is this is just my theory roland martin was not hired by c.n.n. to make provocative crazy comments dana loesch was people like erick erickson are i mean i know that sounds strange but hear me out they were hired to basically

provide that kind of talk radio lunatic point of view especially with the marines peeing on the taliban and i spoken about this on our t.v. before that kind of sensationalism and that kind of of news product dominates the airwaves in the united states and c.n.n. and it was just taking advantage of it when erick erickson talks about how it's great to see another hippie taste that wasn't what roland was doing he was at a super bowl party stupidly tweeting some fairly pigheaded comments because those comments go towards you know traditional cultural abuse even death of gay people. so you know so there's the difference so roland was suspended because of this kind of you know with this and then tweeting it to the universe and the power of social media personified there they that's there with dana loesch that's her

character that's her role this wasn't roland's role role and stepped out of that role and role and got smacked for it now maybe they'll be a. threshold of professionalism now at some of these cable networks where people will quasi stuff like that i don't know if that's going to happen frankly i think roland's going to be back on the air next round of primaries are saying well he certainly is paying the price at least for. the president there's so much nice to have you on the show as always that was journalism professor at georgetown university christopher chabris. well you've heard about the military industrial complex but there's another system that's pumping money into corporations while harming average americans some refer to it as the obesity industrial complex it's this system that contributes to the obesity epidemic in the u.s. so while the health and well being of americans suffers who is benefiting well as you'll see corporations are raking in the dough from the fattening of america and

not only are politicians not stopping it it seems they're feeding the problem for more on the fattening of america and the fat cats that benefit benefit from it i'm joined now by raj patel from the institute for food and development policy he's also the operator of starved and stuff they had in battle for the world food system . hi there raj so you know when somebody is overweight there tends to be this this tendency to blame that person for letting it happen or blaming the parents for letting their kids get fat because there's this perception that when it comes to what you eat what you put into your body you have a choice but how much choice do people really have these days when it comes to ingredients in the food that you buy. that's a great point there is i mean if you cruise the aisles of the supermarkets you'll find that. if you go to the breakfast cereal aisle the sort of preponderance of cereal that we are encouraged to feed to our children has sugar as

a primary ingredient and we've been noticing in the united states really over the past forty years an increasing trend towards obesity and overweight to now now to the point that the majority of americans are overweight and about a third of americans are obese now that's a that's a relatively new phenomenon and it's one that has. some level it's about consuming more calories than you burn and we're encouraged certainly by the industries the profit from this to think of this as an individual failing we need you know we are encouraged to think of the fact that we are so overweight in this country as a sign that we are deficient in willpower and so that there's a big industry not only in selling us food that makes us fat but also a billion dollar industry and selling us food that makes us thin as well and sometimes these these industries exist side by side unilever for example owns ice

cream companies as well as weight loss brands but the fact is that the choices that we have are structured much more by the companies that make money off selling us calories and they're selling us that means to get rid of it than they are individual to do about our individual joints and speaking of choice there's a lot of times it's the poor people that apple last choice has talked about how often it's the poor that fall victim to this as. well that that's it i mean it seems paradoxical that in the united states where as i say i mean the majority of people are overweight and in the united states at the moment and people are often shocked to hear this about fifty million americans. go hungry that's a got me for forty nine million the most recent year were what's called food insecure but it's not surprising that hunger and. obesity and overweight are neighbors and the reason that we're the way it works is like this that if you are

on food stamps on supplementary assistance in order to be able to make ends meet for you and your family then what you're going to do is try and spend money on on as many calories as you can you try to spend money on as much nutrition as you can get and a dollar will buy you about four hundred calories of coke but the dollar will only buy you about seventeen calories of lettuce and when roughly you know a dollar fifty is what you get in terms of food stamps per meal of course you're going to try and make those that make that dollar count in terms of calories and if your calorie options are limited then of course you're going to be heading towards buying food that rich in the kind of empty calories that are going to lead to overweight and obesity i mean this is a global problem of course and but certainly in the united states we see it very acutely that overweight and poverty are often go hand in hand and meanwhile it's the big business says the big food and pharmaceutical companies that are raking in

the big bucks why do our politicians allow this to happen well i mean give it's clear that in the united states we have the best government that money can buy and the power of the agriculture lobby is immense now while we do have some shifts in the most in the obama administration toward supporting the kinds of food that are slightly healthier than industrial that's pretty produce food we still are having you know we're at the labor level of having fights over whether the ketchup on pizzas can be considered a vegetable and you know when debates that the u.s. department of agriculture at this kind of level it's not surprising that. i mean though that's a sign of the power of the agriculture industry to. the federal level. food safety and the health of american citizens and raj i just want to jump in because i want to show you something that might exemplify all this take

a listen to cooking show host paula deen on the today show i was diagnosed three years ago and i will go on a regular physical exam with my doctor that i had type two diabetes and i'm here today to let the world know. that. it is not a death. i'm working with a very reputable pharmaceutical company. so we don't have that much time raj unfortunately but here's an example she's been diagnosed with diabetes and if you've seen what she's cox it's not hard to figure out how that happened so now she's going about this you know going on about this great pharmaceutical company that's going to treat her which she has agreed to work with now she is making money off of her own illness and so are the pharmaceutical companies we just have a little bit of time but this is another example of this problem of this obesity

industrial complex absolutely less than one in three kids belong today in america will develop type two diabetes that you won't get in the months from launch films you guys i'm sorry sorry to cut you off we are out of time we'll talk more about this another time but that was a rush to tell from the institute for food and development policy we'll see you right be right back here in a half hour. los

angeles to chicago to birmingham twenty trauma centers have closed since two thousand severe problem is not enough inpatient beds not enough urgency department beds and not enough nurses to man those deaths to take care of all the people who are the only real health care system that we have in the city of los angeles is the los angeles fire department in fact when i started my venture is a firefighter i didn't want to do your mass and i started out going to just do fire fighting it's about eighty two percent of what we do the far the problem is medical but we had a rescue couple weeks ago waited four hours for big i've waited sometimes three hours but i wouldn't say it's a francis in lynnwood for four hours and fifty minutes standing against a wall with patients and we have a federal law that mandates that you can't turn no one away who seeks care and emergency room. we have the most expensive health care system in the world and it's probably valued

the least. good afternoon and welcome to capital account i'm lauren lyster here in washington d.c. here are your headlines for thursday february night italian prime minister techno crowd mario monti has been in washington meeting with barack obama today meanwhile greek leaders scraped together a deal on austerity but they may face the same problem arguing about this again three months from now fractures in the e.u. continue to appear as leaders try to keep it together but does any of this matter or does the likelihood of a european disintegration have to do with something else entirely will explain and

is the same thing that moves markets what moves women headlines is the same thing driving the dow what drives hollywood producers to make movies like this. dream. and forget jobs or the eurozone crisis is the dow really the best indicator of who will be you as president we'll hear from robert proctor he's founder of elliott wave international and states and federal officials have finally reached out foreclosure deal a twenty five billion dollars settlement with the five biggest banks guilty of abuses of abusive practices like robo signing signed on now it's billed as helping homeowners but no mean prince says this is yet another example of only good for the banks you'll hear why let's get to today's capital account.

so as we watch the eurozone debt crisis and look to what politicians or technocrats are doing to keep europe together or as we watch the two thousand and twelve u.s. presidential election campaign and look at what candidates are saying or as we try to analyze what the economy and economic news means about where the stock market is had the market is headed what is the outcome of the events like this has to do with something else entirely the same thing that dictates hemlines you're right thing rising here in the early sixty's.

so you can see a little shaken but skirts got higher as a decade went on as you can see there what is the deeper thing moving all of these trends skirts markets events is social mood measured best by the stock market that is just the theory behind the work of robert proctor he's founder of elliot wave international and author of this book conquer the crash you can survive and prosper in a deflationary depression i spoke to him earlier and for viewers who may not be familiar with elliott wave theory i asked him first to break down why he believes social mood is the driver of all of these things. well that's not an intuitive way to look at things most people sort of default to a mechanical way of believing that causality works in society it's the primitive way that we learn how to cope with things if so ball is rolling down a hill or stone is rolling down a hill it could crush you you know that it isn't going to change direction on its

own volition so you can jump out of the way most people feel society changes in the same way it's going to go in one direction unless something impacts what i was troubled by with this explanation is the idea that these impacts seem to come from nowhere under that idea now the words what causes the actions in the first place and when i started studying the stock market and and different social action such as the growth or contraction in the economy or the kind of music that people listen to those sorts of cultural things i found that they tended to have been flow together so i began to realize that there's something else going on and i think what's happening is that they're in dodge's slee regulated waves of social mood. that arise naturally among human beings when they're in a social setting and that rather than the events of of society determining the general mood of the population i think it's the general mood that actually dictates the character of the actions that people take in

a social setting so it's a completely different way of looking at things and as you said at the outset it extends the stock market the way the macro economy is going a lot of political trends and the more frivolous things such as popular music trends and movies and so on and it's completely fascinating how do you measure it though using elliot way. well unfortunately we cannot put electrodes in everyone's brains it would be very nice we can picture directly what i've noticed is the most sensitive measure of social mood at least that i can find and also the one where we have excellent back data in fact going back two hundred years in this country in another hundred years in britain is the stock market and i think there's another reason the stock market is so good at reflecting social mood and that is that people can react very very quickly to changes in their mood they can buy and sell stocks now these days with a push of a button certainly with no more than a few hours contemplation or maybe calling a broker whereas some of the other things that may result from a change in social mood such as the changing business conditions take time to

effect so if someone decides it's time to expand my business you may go i have to go borrow money or rent more space hire new people and that takes a few months and guess what that's why recessions follow downturns in the stock market recovers follow up turns in the stock market they do not need them i think it's because of this delay in expressing social mood and it's so interesting that with social mood putting pressure on all of these different things that you named that the barometer for that is the markets i want to go into some of these examples though of putting markets aside let's look at some of the cultural examples that i have everyone may remember goldie hawn in lathan in the sixty's i want to play a clip of that for the audience sure if. ok. let me larry king see if this. is so this was the late sixty's she's wearing a little short skirt i say this is driven between

a combination of nice legs and maybe women's liberation movements that were gaining steam you say this is the bull market explain why. well i was the first one to come up with that idea that's been around since the twenty's but i think social nomic theory explains why there's truth to the idea when the mood has been swinging positively for a number of decades people reach a. feeling of euphoria in essence and they express it in many different ways over valuing stocks is one way that people do it and people dressed with more color a lot more colorful things such as in the mid sixty's they also dress a lot. of women dress with less less clothing let's see in the mid sixty's you had . bikini's where the big thing i mean they were making headlines that was so daring you know and as you say short skirts in the late sixty's they certainly returned in the late ninety's and watch any of the m.t.v. videos by women you know they were barely dressed for most of those and when times

are different difficult and i don't just mean the economy with but when mood is depressed you find i'm actually skirts for example in the seventy's coming along also we've we've looked into colors we find that grains browns and blacks are more popular during a bear market periods or depressed periods so there are so many different things we've looked at we looked at car colors we looked at the popularity of james bond movies all all these things seems to have been flow with the very same thing which is the stock market but i'll add one more thing yes the new studies by others are beginning to confirm this this observation you probably heard about the twitter studies the boleyn unmounted i think that liat you know they're terrific because they found that the change in mood that day detected in the twitter messages actually preceded change in the stock market by a couple of days and that's exactly what social nomic theory says they should it's totally fascinating and just what you said about mac makers it's interesting because those actually come back in style in the last few years and we know what

the economy and stock market has been doing and behind me i just have a life magazine that showed the headlines of rising from nine hundred seventy so enter think. stuff there but let's get back to the markets because there is this concept that we really see in the mainstream news that that news drives markets and i want to just give a couple examples our audiences for mail your but just let's bring up some headlines of that they can say so this one says u.s. stocks advance as greek leaders agree and then you know one from a couple weeks ago says stocks drop with euro on greece concern dmitri want to jump in here for a question there robert yes so this is something that we often poke fun at a lot on the show which is that in the morning the u.s. will be saying that the markets are rising due to x. y. z. and then the same thing will be attributed to a fall in the market a few hours later in your experience looking at this over decades what is the connection that you see between stock market movements and the news cycle what you just pointed out we've seen many times you can actually times the news is precisely

the same and they just attribute does his reaction to the different direction well part of social mix theory is that people are not reasoning so much when they're making their investment decisions which is the you know opposite of the efficient market hypothesis what they're actually doing as rational as and it's very easy at the end of the stock market day when you already know which direction the market is going to attributed to this news event or the news of it but if someone only had the news in the paper nothing about that particular market they were after but they knew exactly where commodity prices were going exactly know exactly what happened in greece and so on they would not be able to predict what the stock market over so they're shooting a news to the market and anyone can do that it's rationalizing and i'd like to know when we're doing your show is unique because instead of generating those with those very headlines you're you're analyzing it i think it's terrific on think yeah i really appreciate that let's talk about keep talking about the markets let's talk

about the dow and what it's done recently because we've seen it hit its highest point since two thousand and eight i guess on the surface things are better since two thousand and eight but there are still a lot of problems i mean we have long term structural unemployment we have more officials coming out today saying europe's and recession there are a lot of reasons to be pessimistic so what explains the dow right now. well first of all under the the model that i use to try to predict the stock market at least in a probabilistic way the only way the model we completed form five waves down in march of two thousand and nine and i turned very bullish at the time when on television i said this is the kind of bottom that should lead to a substantial rally where there were only two percent bulls among futures traders in the s. and p. as reported by train futures dot com and those are the kind of things he wants and what ought to be on one side he says going to be a big rally and by the time it's over the economy will be in recovery because again

as we said earlier the economy legs are stuck or that people will be optimistic again because that's what's driving the move a change toward more optimism we'll also see the fed taking credit for saving the financial world and they've done that so all the things we expected so you were saying but at this moment we're also seeing extremes in mood and positive mood and this is the third time in the last dozen years that we've seen the first time was two thousand and two thousand and seven and two thousand and seven and again basically now things can stretch further but we're definitely seeing readings among individual investors economists money managers and all subgroups including futures traders and options traders all of them are on the extreme side of optimism and that doesn't mean the market is the peak you know next week but it means it's much closer to a high than a low so we're expecting that the things that reflect social mood have since follow the rally that's normal if the market turns down again they'll follow the market on

the way down as well interesting and just more broadly i want to play a commercial because you're talking about some more optimism i want let's look at a broader in society let's play that the approval commercial that people have been obsessing over this country can't be knocked out when we get right back out again when we do the world's going to hear the roar of our engines. at our second class about to begin. so emotional clint eastwood in that car commercial what does that signify about where society is and the moon well i'm not sure it signifies per se you know you can overdo this and i don't want to sort of come on like associate on just where they can find meaning in every little event. we should we want to look at things that we can quantify so so while that's a lot of fun and i love clint eastwood and so on you know you can tell that it's not one thousand nine hundred because a nine hundred ninety nine everything was great you know the central bankers were

on the cover of time magazine everything's under control they told us it was a new economy that the fed said we've control in interest rates and the money supply so perfectly that we have a goldilocks situation too hot not too cold everybody thinks thought things were great some of the no need for that kind of a better times but now there are things have been shifting for the last twelve years and people can feel it especially on main street i think you're now getting people you know saying hey let's let's pay attention let's try to recover from this but again those things are in terms of yes we can pull ourselves up you really can't change the way in social mood you can only observe them and as an individual you can either get on board if it's on the up side or get out of the way if it's on the down side. and as they say in psychology sometimes as a gar is just a cigar which could explain that commercial in the view of robert proctor author and founder of wave international. and still ahead find out if the stock market

will predict the two thousand and twelve presidential election we'll tell you what history says but first your closing market numbers. you just put a picture of me when i was like nine years old and just you know look true. i confess and i am a total get of friends that i love driving hip hop music and for. that he was kind of the guest today. i'm very proud of the role without you as playing. oh.

you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything is ok you don't know i'm sorry welcome is a big issue. what drives the world the fear mongering used by politicians who makes decisions to break through it's already been made who can you trust no one who is you know view with the global machinery to see where are we heading. controlled capitalism is called sessions when nobody dares to ask we do our t.v. question more.

welcome back sticking on this really interesting subject in the us in the seventies we saw horrific stagflation ery depression now we also saw a large scale horror in a different way. just as. texas chainsaw massacre recession not unrelated factors according to robert proctor founder of elliott wave international author of this book conquered the crash you can survive and prosper and a deflationary depression so we continued speaking we looked at what proctor believes wave theory means for movies and markets post two thousand and eight financial crisis today.