started a new tech company about advertising and getting what you want the advertising now will do a little monetary policy touch with matthew yglesias so facing. welcome back to the new center here in moscow top stories now. russia says there's no alternative to the un envoy peace plan in syria as russia proposes an international conference to resolve the conflict. in spain confirms it will last for funds to help the country's beleaguered banks self promotion she talks with eurozone ministers the grid says the loan it needs is much more than the fourteen billion euros recommended by the international monetary fund. and russia. wins the french open crowd marking have victory and all four grand slams. about the news

team with more stories in the meantime we returned to washington and the and initial. good lumber tour. was to build a new its most sophisticated. fortunately doesn't sound anything mission to teach music creation and why it should care about humans in this this is why you should care only. hi guys so here we are at netroots and obviously one of the big topics for discussion here is the economy a lot of talk about unemployment a lot of talk about tax policy not so much when it comes to monetary policy if anything they have one panel about the federal reserve but it seems like it's more of an introductory class to the fed then a real honest discussion about it and so to talk more about that with me is matthew

yglesias from slate and also author of the rent is too damn high so matt thanks for joining me tonight and you know why do you think that is like i just said that we don't really hear a whole lot about monetary policy or debt and deficits interest rates when you're at a progressive conference like netroots but you know for a long time i think the federal reserve was doing its job fairly well and the economy was plugging along very stable ie you know for decades and so it sort of slipped out of you people start to think of it is very arcane because like all policy you know it's a little complicated so a little technical but it sort of completely fell off the political agenda and people are only now just starting to remember that this institution is probably the most powerful force shaping the labor market and so in that sense you know one of the things we keep hearing about this election in november is it's going to be a referendum on president obama's economic policies what about ben bernanke is policy as you know do we need a referendum on the fed chairman as well well i mean exactly we should the primary institution that's responsible for sort of stabilizing the economy for fighting

unemployment things like that is the federal reserve not something that the president the congress deal with directly and we've lost a little bit of sight of that but the president has also lost sight of it he spent a long time not nominating members for the fed board he simply reappointed the guy he didn't heard it from george w. bush didn't sort of deliver change in that front and he's paying the price for it do you think that ben bernanke he has a way over president obama meaning bring about this in more of a historical perspective you want to talk about the relationship between clinton and greenspan right where greenspan had this ability to on. issue threats is going to have that all i mean he may you know it was very clear at the beginning of the clinton administration that alan greenspan wanted deficit reduction and he wanted deficit reduction as the price for sort of monetary policy that would fight unemployment whether that same thing is happening now we can't really know but it seems like it may be one factor that motivates the white house toward sort of

deficit reduction agenda in that sense i mean if you look at the economy right now it's just not good news anywhere right we had another horrible jobs report for the month of may if you look at europe and what's happening unemployment is at record highs not only that we're seeing growth slow in india we're seeing growth slow in china and russia as well so. what do you think is in store for the global economy well you know it's a very rocky situation and we saw a testimony this week from central bankers in europe in the united states where they've looked at this slowing growth they said you know it's a problem it's really bad but they don't really say that we're going to do anything that they that they don't quite seem willing to sort of step on the gas and try to help stabilize things even though everyone agrees that the world economy is moving down that direction. but ben bernanke i mean in testimony he says that that they're ready to act if need be right finally someone is saying that we need to pay attention to what's going on in europe but how much more can the fed really do right if interest rates are already at zero meaning is another round of quantitative easing really going to do more than perhaps provide or you know

a really temporary boost to the markets well i think the kind of fun davies saying that they've done has had a big impact but there's a lot that you can do and it has to do with influencing expectations of the future and try to make a clear statement that he wants to see an economy with more demand in it and if that produces a little bit of inflation if you have millions of unemployed people go get jobs and start commuting to work and start moving out from their parents' basements you know gasoline prices will go up rents will go up and the federal reserve needs to say that they're ok with that but that's a healthy sign of covering the economy and that will help give a boost to to investment. real estate to investment in expanded production and really could accomplish a great deal but they haven't been willing to take that step but do you think that people have become a little bit too dependent on central bankers i mean obviously we still have this attitude of too big to fail on wall street if you think about it and i mean same thing and i know that the markets are volatile you can't necessarily base everything on how the stocks are reacting rad day but if ben bernanke he gives

a press conference then suddenly everything shoots back up after everybody was worried about spain yesterday let's say well exactly but i mean that's a sign of central bank failure you know monetary policy is always important but when it's being done correctly it doesn't move markets because people just expect it to be done correctly and so the banks the financial system wall street is all looking for other things that are outside the system it's because they haven't been consistently doing their job well they were instead always sort of on the edge of our seats trying to see what's he going to say right now it ought to be boring unfortunately it's become to enthuse. too interesting i mean that's interesting because we were we are in this era where you know the federal reserve used to be something that was kind of a mystery because it had lacked any transparency for most americans now we at least got some audits when it came to who they bailed out and how much money they gave to them now you have ben bernanke giving press conferences these teaching lectures that are posted on line is this a new era of the fad of the fagot to try to be cool i mean you also have this kind

of ron paul wave of people that are really interested in abolishing the fed but nonetheless they're at least talking about it wouldn't these mean response to taking a lot of criticism has been to try to become more open to becoming public to teach these college classes to speak more and you know that's nice but the main reason he came in for all this criticism is that the state of the economy is so bad and which really want a central banker who doesn't effective job of stabilizing demand which point no one cares about or you know criticism is limited to some cranks you know a couple of press conferences can't make up for years of mass unemployment i want to go. back to something that i mean part of the problem here is that we have an economy you know where demand is of course an issue where we do have this fun employed generation that's now living with their parents how do you put that into perspective with you know what it is that you write about too in terms of the rent being too damn high for going to live in cities and how you know commuting everything really stalls our ability to grow i mean it's a huge problem if you look even now in a depressed economy in

a very let down construction market there's still lots of places words extremely expensive than if you were allowed to throw up some more apartment buildings in the san francisco area in the new york area around boston you know people would live in the price of housing and major american cities is through the roof and we have the ability to build more houses for people but a lot of times people say you know they want to walk renters from coming into their neighborhood but they don't like it if young people move in or lower income people and so they've zone people out of a lot of these desirable neighborhoods and you know it's a long term problem but it plays into our short term how does that play into housing which if you ask me is the most. underdeveloped part of the we nobody talks about how that affects our economy and why we're still in this right there right now you know it's linked in we had for the past several decades sort of policy around the idea of homeownership and of inflated home values as a way to sort of build wealth into building we ought to see it as part of the cost

of living that you know people need to be able to afford a house to live in to have kids and to fit their family into and it's not a source of wealth to have houses be expensive and then to have people borrowing against the houses and taking out these mortgages and that sort of process it ran aground but we haven't yet built that kind of that new housing economy that's built around you know just having enough space for it and the meantime i guess you and i we both live in d.c. and it's not a cheap city so we're just going to have to keep paying rent there's way too damn high all right matthew yglesias thanks so much for joining us tonight from slate and author also author thank you. one of the big things here at the net roots nation conference is that it's about activism we want to know how to get young people specifically if you ask me engaged in politics or whatever it is that their cause is and one of the ways you can do that especially these days with this generation is by using technology and so today we have a very cool guest who's got a company called loud sighs this is calm i'm sure who is the founder of loud sauce

and so con i guess to start off by telling us what that is i mean it simply an interesting name doesn't tell me much about it out so i think it's funny the name actually came from a crowdsourcing thing but it kind of means the sauce that makes things louder i think you know allowed sauce is a way for crowds of people to raise money specifically for buying advertising space for things that are under promoted in the culture so it could be for political causes it could be for nonprofit organizations but basically you know set a goal of like five hundred dollars a thousand dollars to spread the word among your friends and then if the goal is reached then we'll actually put an ad on national t.v. or put up a billboard or you know have a make a video that by media for a video that actually reaches people that wouldn't see it on facebook or twitter it was so this far i mean how often does it happen that aside from when you pass this along to your friends it becomes this advertising campaign that people can actually see out there at the time that i was to reach the most people was in october where that occupy wall street movement was kind of you know happening and somebody made

a thirty second video on the streets of new york somebody found it put out loud saucier is six thousand dollars and unlike less than a week and then we were able to air a national t.v. and even aired on fox news of all places and that because of the moment of that it also had a. media it was on t.v. the story itself was interesting and i think that's what's what's amazing about the time we live in is that social media is very powerful for like organic spread but then when money is involved it becomes even more interesting like regular people are spending money to try to buy advertising for things they care about it's sort of like mainstream media is interested in the. story is good and so you get this kind of double hit of like earned media plus bought media to reach not just like a few you know the few hundred people in your network but actually millions of people for that and to get the word out there and you know i think that's really important but. i mean do you consider yourself a competitor to the big advertising firms out there because i feel like every step of the way when you see some kind of a new project when you see progress guess who's usually trying to block it i mean

for that you know whether it be on capitol hill you know where else it is the big industry they don't want competitors so for i don't think we're really competitive i think eventually perhaps might be seen as i think actually we made is you know cut out the mad men which is more in that spirit of like you know let's actually pack the the advertising industry but i think realistically the advertising is going to stick around forever there's money to be spent there trying to reach people and i think allows horses is a sort of creating is a new. customer of advertising like people who never have traditionally thought of even using the media or just regular people artists musicians will start to actually realize they can spend money in strategic ways to use everything so in some respects the advertisers will be happy there's even more money being spent on advertising like a new a new we're creating even additional market ok but then you hit upon something where yeah sure if you want to talk about advertising there's always money to be

spent but is there necessarily money to be made for her firm like yourself i mean if you look at what's going on in silicon valley right now with so many of these tech companies national networks you want to talk about the five i suddenly everyone's wondering if there's a bubble of there's a lot of real value in it because you got to now have the what comes next yeah well i would respond by saying that most of the infrastructure around technology and advertising that's been built over the last twenty years with silicon valley is very specific about what optimizing targeting for the people that are already spending money and you know facebook's the the epitome of creating a. service that for users is free except we give up all of our information so that they were going to be targeted by advertising and that's mostly the carmyle that's not going away time soon so i think what we're doing is actually completely different we're saying like forget all these like crazy millions of companies that are all trying to optimize for targeting for this let's go from like one side which is the advertisers to the audience we're saying let's just talk to the audience and

let the audience start to actually target themselves like in some respects the audience is best positioned to understand what the audience wants and so if we actually start to give some of that power of targeting and advertising and open that process up in the same way that in the internet as a for so many industries i think that a higher percentage of the online population will start to realize who maybe we can reach you know my people like my mom in ohio or people like my uncle you know a person of faith in mississippi and instead of only like the big boys trying to target messages we can sort of begin to understand how we reach each other i mean look this is this is further down the road but i think actually we have a chance to really you know reduce the amount of spending and wasteful spending happening out of ties and so that what's actually what the media of our times be used for is more things that people actually value and finance them how important are young people into this entire equation because people like you know my stuff to

me even really relate to the general kind of advertising that carry more i mean i feel like there's a lot of pressure turning family out of pharmaceutical commercials that are out there but you know but what about here not what about younger generations they just don't care and i feel like you know whatever's out there in the mainstream meanings to reagan and then aren't you know it doesn't relate to people like yeah i think you're right that you know that the old ways of marketing in terms of the old school t.v. . are lower working less less effective and i think that's why there's i think young people are more attuned to like authenticity and culture that you know because we. we exposed to so much advertising we were young we sort of are more media literate that young people or than the average like sixty year olds and so we kind of see through the. power of the board of advertising and so that's why i think there's a chance for something like wildfires to succeed is that we're not trying to promote stuff just because we want to make money for some company like this is about promoting authentic culture and so i think that young people are critical to

this because young people are the ones that actually are able to generate high quality videos themselves like they know that's not the know how to do it you know they do it yeah and they also have the networks and the shared trust to be able to say hey guys this is worth chipping in twenty five bucks so that we can help reach people that are not our friends and i think that it fits more and more clearly with the culture that's rising right now online you know they want they want to just promote social causes and i promote their cool friend that's doing some kickstarter project or their or their friend that has a company on etsy that's selling interesting stuff like those guys don't do any advertising right now i can be on some of the board want to marry you know very interesting idea and i guess that's what this place is for right is to get my winnings new ideas and share them so much learn about loud thoughts thanks so much for joining us thanks so much. you know how 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 realized everything you thought you knew you don't know i'm sorry welcome to the big picture. down the official antti happily cation. i pod touch from the chops to. life on the go. video on demand on my old costs. on a ship. all right guys it is time for happy hour and tonight we're doing our happy hour here at murphy's bar in providence rhode island we're here for the net roots nation conference and so joining me this evening for happy hour first next to me and nato

green comedian who's also got a new album out called the nato green party that we have julie on for a lotto post absurdity today also comedian and david pac-man who you guys know host of the david pacman show so let's get started for get started medo he did me a favor control this for me throughout the series to when i got to work on the no i think it's what a gentleman i think you know. ok guys so people are going crazy over something that president obama said while he was at another fundraiser at the home of the creator of glee and they're trying to decide if they think it may have been a sex joke or not he basically was talking about push ups between michelle obama and elena generous and said i want to thank my wonderful friend who accept a little bit of teasing about michelle beating her in push ups but i think she claims michelle didn't go all the way down and that's what i heard let me set the record straight michelle outdoes me in push ups as well and so some people are trying to decide if the president made a little a little you know b.j.

joe talking about going all the way down what do you think i think it's about time you made to be just right for the whole entire presidency i mean let's do a little with b.j. just probably a sexual double entendres old it's a real know about you know the stimulus package you were talking about missiles that all the stuff i mean there's probably a lot more of these where you know they don't think i'll just leave them there like missiles stimulus. whatever that obama is just for you are do you go over this with the what is. good you know there's room in the freezer so to speak. ok i made that joke you probably didn't i don't think i was probably didn't make that joke is i mean it and let's not talk about the first lady that way. but who knows i think it's unfair to fake the whole point because people are so obviously desperate for the president to make a joke. our next story is here there are a lot of stupid criminals out there i think we find this out all the time and this

story isn't it's not funny because someone got hurt you know i mean these two people are being investigated. or perhaps strangling this nineteen year old girl but it is the things that were found on their computers and what they were asking which makes them seem like a stupid criminal that are for example some of the questions are what's on those rags that make people pass out another question could you kill someone in their sleep and no one would think it was you and that of course there was thirteen ways to poison someone on paper basically just certainly reserve posts and everything of the out already spout and on their computer are they to this tragedy the truth so they have to go to. it marty we need to lose the dewey decimal system and go to why bernie would open up starbucks when you were the burger and people such as you actually had to do some work to do so and went to yahoo why not google

without you having to make so they were using the whole to visit they use. yahoo answers as an ad done com which does seem a little outdated laws because a lot of those questions they're just internet troll with right i mean the questions are just put up there just to see what you have to sue not everybody who actually asked one of these questions is really playing and killing some no but these guys are not yeah i would hope not well we know we don't know because there's an investigation that is going on but they're accused of strangling in one thousand year old for drug money. so clearly they didn't get the answers that they wanted about the chloroform clearly they didn't find out whether the put on the rag for a killer you have to do so sort of what. you are just going to google is over things it's not just how you which is the press is where the fun to kill so was it just tells us how inaccurate some of these answers are right because if you're searching for how to kill someone and get away with a stranger the news definitely not on the list of the markets right fingerprints

that that would be on you know it is yeah it's definitely not on the list so they if they're guilty are horrible people and also i don't know how to use the internet properly you know it's just sad i guess that this is what people spend their time doing on line a way to get away with it is just. very good very good. very good maybe they would have been maybe they would have been found out how things better passwords had a better protection system online i mean lately we've seen a lot of leaks right recently linked in profiles godley i think there was some dating website that got leaked to and so here's a piece on the atlantic where they're asking if it's the end of the password as we know it because this guy who invented the five crepes back in one nine hundred ninety five his name is henning camp he just wrote his personal blog saying that the entire system he created is obsolete that people need to create new password

systems a lot more protections and i mean i don't know what is what is that tell you right because we do see passwords being leaked all the time yeah and you know i think even though people their passwords shouldn't be the first day i actually know people still have their birth date as their passwords or middle name and things like that so if you just eliminate those i think that number practical way way down . they kind of deserve it know if they're putting their birthday on still kind of as we were talking of the entire concert system i mean i'm assuming that what he's saying here is that you can still have a different password for every possible new use if you have that kind of incredible that. but it's just a crappy so what are they going to do instead of high stands you know what i'm going to there is no shoes to. your tribe in circular terms of the number two but it is rather this is empty five krypsis and i mean there's all kinds of he needs it so there's a strong words grambling are welcome to take you where they are

a little above my head but i would hope the people who are creating cars or exist know what they're talking about her because there's a lot of emerson's a lot of what ampersands ok if you go to one hundred keyboard you know it was a real shit in the end so i reworked those into my grassroots thanks for letting us know you know this is a national show you know. if anyone was or how i perceive it back then i'm pretty sure that he does give you an invitation it is necessary to have an assigned. book and if you're going. to nose ring in for service yeah that's true it's true here's what you have to say about this one. we live in a world where there's a lot of materialism really how you look becomes very important maybe a little less so washington d.c. believe me i live in washington d.c. but i'm from l.a. and you know it's a tough town in that sense but it turns out that recent conflicts surgery statistics show that there are thirty seven percent fewer americans who got nose

jobs in two thousand and eleven than there were in two thousand so nose jobs are on the decline however they're on the rise in certain groups like hispanic and asian americans and some people i mean this is just the bells taking they're saying this means that if you are jewish girls are getting nose jobs you know hearing about that and that is also as i say the less the fewer nose jobs the better but is it true for you so more people get jobs that are. getting there or there are obviously because there is an economy thing they have to pay part it's jobs going. it isn't to do with it is that you know in tough economic times maybe you're not going to think that that nose job or that tummy tuck in is really the most important thing to spend your money on it's when it's a recession so it sort of a district or maybe they'll have like a living social deal where you can get your nose job for like a like oh a cheaper amount or something five three parts or something get one free you know when you die with a look at them to live up to living it's up to look at it up must be i think

probably less you know the yukon of music always be it but also it's probably that there's a kind of turning the exotic looking women that are becoming more and more popular in popular culture or maybe some of these women now have someone on t.v. their nose will eat soup and they think of it as a trick if it is going to change because he was the no this is or it's all because that's a very exciting answer that's very well thought out i think it probably was just thinking that maybe we could open up like a like a quickie service like a place where people can go get all their plastic surgery needs done but i can't there's a very very shifty boob or something you know something like that you just drive and get everything done all in one place and they. are guys before iraq but i'm here to i'm kind of curious i was going to talk about more zombies because it just seems like every day there's a new zombie story that is out there and it's freaking me out and i think that it's creepy and oh what's happening in the world but you know any thoughts on the net

roots of what's going on here and think of all zombies are. totally zombies or i think there's a lot of all the consumption in the media between cannibal and zombie recently because really noticed that in a lot of these stories it seems like all of a sudden hannah montana the sense through their receding into different things and clean up you know these people are actually on the inside because they're not that not their natural not the living dead real thing as far as we know i think it's it's discrimination it's so i think it comes to nuclear energy i don't. think so or even some people are there. are there like a lot of what should you do as. sports lead ok finally getting the drill to be oh well you know this all because. there's a lot more in the way someone wants to know what i have to say next week on the sun i guess it shows you how far we've come though if you want to talk about you know the new and when they've actually talked about things like this as a zombie apocalypse and that's the effect of these villains and how never as a regular apocalypse isn't enough like

a zombie apocalypse so we've got to be the next big big big thing our guys i got to wrap it up but nato giuliana david thank you it's so much for joining us tonight this was fun.

russia would be soon which brightened if you knew about someone from phones to pressure it's. nice for instance on t.v. don't come.