hi, everyone. become to "on the money." i'm becky quick at the world economic forum where we will attack to some of the smartest people around. tom friedman on why plummeting oil prices is not necessarily a good thing. bill gates and bono on attacking retirement savings. and what you should do no matter what your age for your retirement money.

your life, money, and future. this week, reporting from davo switzerland. they host the annual meeting of the world economic forum where leaders in business, politics, and money gather. what goes on at the meetings? that's what we're here to cover. >> they descend on the town to talk about how to improve the world. this year's theme is mastering the industrial revolution. also on the agenda, discussions of some of the biggest challenges affecting the world including terrorism and income inequality inequality. it is by invitation only. it includes 40 heads of state like david cameron, high pro

chairman and ceo jamie dimon. leading the delegation is joe biden and john kerry. the world economic forum is sometimes criticized for the secrecy around the event. also, parties that give attendees a chance to mingle and have fun and get to know each ore. >> oil prices have continued to fall and send the global markets into a slump. what is behind the worst start to a new year in recent memory? in all time? thomas friedman is here with his insight on what is happening. >> you wrote this week that when it comes to dinner parties you're not much fun these days. >> i can ruin your dinner party, breakfast, or take out for your in-laws.

episode, what if it is really being propelled because so many eras are ending a the same time. the end of 10% a year chinese growth. the era of high oil prices. between $80 and $100. since the mid '90s we have gotten used to that. the era of the american two-party system. the american union. these are real bill lars. . if you look at all four, they're not collapsing. but there is cement falling off of the pillars and there are a few cracks. i'm wondering if that is not what is rattling the market so much. what if all of this happens at a time when america is not the dominant power it was, and the traditional adult that can fix

might not be available. >> let's talk through a couple of those things. $80 to $90 oil. that is terrible for consumers, but it seems like it should be fantastic. countries that are importers of oil, it should be great, right? >> i look at your websites and others in the morning, and say oil is down to $20 now and markets are down 500 points. people will tell you it is not a reaction to the low price of oil, but it is a proxy. >> china's growth is not 10%, but it is the second largest company in the world. >> whatever the real number is, the economy is not just shrinking. this is the cause and the effect

it is one driving by domestic demand, an economy that will not be sustaining state owned industries, it will defend pend more on the private sectors. and if you get masses of unemployment, people taking to the streets, what does that mean for the stability of china? >> when you look at that same political instability bhap is happening in the middle east. the refugee crisis, that is the kind of thing that i really don't have an answer for. >> we now have more refugees internal and external since world war ii. they're flooding toward europe. we're in winter now so the flood is slower, but once spring comes, we have every reason to believe it will be a title wave. some are saying if you don't

funneling them your way, we may put up a fence. then you have a european union that was meant to be a perfect engine for the free flow of people, goods, and services. that does not work any more. the european union is the united states of europe. and two united states are better than one. and we're talking about the promotion and substanance. they amplify america. what if it blows up. >> give me a reason for hope and optimism? >> because you cannot walk around here, meet young people

businesses, who don't tell you that it is just amazing how easy it is to be a maker today. leveraging the cloud. that for no money i started this ngo. i started this business. i started this collaboration. today the important balance of power in my view is between makers and breakers. the breakers get a lot of attention. isis, we hear about them every day. there are so many more makers than breakers. the balance of power, thank god, is still in our favor. >> tom thank you very much, it's always great to see you. >> thank you. now here is a look at what is making news as we go into a new week "on the money." >> it was a wild week for your money if you have any in the stock market. the holiday week saw them close at the lowest level. the markets had a modest rally

the producer price index, a key measure of inflation fell in december dropping by a tenth of a percent in part because of lower energy prices. the federal reserve closely watching inflation and wants to see about 2% in the economy. and g.m. is going where they have not gone before. they're launching a car sharing service called maven in chicago and new jersey. they hope to compete with companies like zip car. >> if you have been watching the wild swings in the stock market and you're worried about your retirement, you're not alone. everyone should have a plan in place to deal with the drops, spikes, and volatility. joining us with more is sharon epperson. for people who have been watching along at home, what is the type of plan they should have if they're watching their investments go down? >> the first thing, you're on a roller coaster ride like this, don't make any rash decisions.

have, but not take action until you figure out what your goals are. you need to figure out what your risk tolerance is and your capacity to take risk. how much risk must you take to meet your goals. for many people that will mean staying invested in stocks in some way or another. >> as you go along the time line for someone who is a millennial, someone who is about to retire, how should that change their action at this point just depending on their age? >> when you're starting out it seems like you have nothing to lose. you have so much time for that money to grow and to ride out the ups and downs of the market in the next several decades. when you are talking about someone who is generation x or so in their 30s and 40s, they may say i have a lot of competing interests here. i'm trying to save for my retirement, education.

and that is in the stock market. when you're talking about someone who is near retirement, a boomer, there you want to scale back a little on the stock allocation, but not too much. look at what they say is a balanced portfolio. 50% is in stocks and the other 50% is a mix of bonds and short-term investments. about 10% in the short-term investments. here is the part that may surprise some folks. when you're in retirement, you should still have money in the stock market. you will still need growth. the first couple years of growth, that is certainly the case. what about the second decade you're in retirement. you need money in growth assets for that. >> what if someone is completely uncomfortable being invested in

appropriate time not to have money in the market? >> if you need money in the next fife five years, you should not be in the stock market. if you don't have an emergency fund, you need to put money there first. >> up next, we're "on the money." is a cure for cancer getting close sner and leaders in technology and sunshine are accelerating research toward a breakthrough. and then fortune, fame, and giving. will talk to bill gates and bono about their hopes for 2016. and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying

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welcome back. with more than $30 billion in federal funding, the national institute of he feel is the leader, they are trying to find

diseases around the globe. dr. francis collins is joining us. you were here on a real mission of hope. you talked about how we were going to cure cancer. you said president obama wants to make sure we advance this. we have been hearing it since 1971 from president nixon, what gives us more hope this time? >> for me as a scientist, i do believe we're at an inflection point for cancer. canter is not one disease, it's hundreds of diseases and we will make progress at different paces. we do have newer eyes about how to find answers, treatments, and cures compared to a few years ago. maybe people are sin kal. when it was declared we didn't have a clu. now we have their number. >> how much of this is because

you're the former ahead of the human genome project. >> that is a big part of it. cancer is a disease of the genome. it happens because of mistakes in dna that happen in vulnerable places that cause a cell to grow when it should have stopped so we can look at the tumor and say what genes are involved in that person's cancer and how can you match that with a strategy to stop that growth or kill those cells all together. that is a new concept. we didn't have the ability to do that until the technology came along to make it possible. >> so we're on the cusp. >> that is part of it, and i think the ability to activate the immune system. we're all probably fighting for little cancers every day, but sometimes the cancer cells get clever and they hide.

see them. but we can help by teaching the immune cells hey, look over there, there is a problem. we have to take them to school and break down the camouflage. with melanoma, leukemia, lin lymphoma, we're seeing advancements and you want to figure out how that works for pancreatic cancer, brain cancer, colon cancer. we can get there, but it will take a big push. >> what about research on other chronic diseases like alzheimer's and diabetes? >> we're making progress on the fronts, it has been a big shot in the arm that the congress came through this year with an increase in the budget. we have been really squeezes, losing ground. an extra $2 billion.

time when we have to many problems. they said let's push hard, we got an extra $350 million. we're finally seeing real evidence of benefit for clinical trials as long as you start early. you don't want to wait until someone has far advanced symptoms and lost memory. people at high risk, maybe before they have shown any symptoms. >> you mean stall the disease or reverse it? >> we don't know yet, we're in the early months of the trials. can you actually reverse it? goal. but after a lot of failed trials, that field is turning around in a big way. >> dr. collins, thank you so much for your time. >> thank you for having me here.

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get an auto insurance quote and see why 92% of our members plan to stay for life. welcome back. one is a rock star, the other is the richest man in the world. they both are fighting poverty around the world. we spoke with bill gates and bono in our "face to face." >> in this group that bono built, it has red as part of it. and that organization is really telling the story about progress, people meeting their commitments, getting them to see the work first hand.

was fighting extreme poverty, but for some people that is very complicated. so we invented red as a gate way drug to activism. people were very upset with what they were seeing with the aids crisis and the united states is now leading the greatest intervention in the history of medicine. it is remarkable. and i don't think they know just what you have done. and it took not just the left and the right, but corporate america. and rock and roll people are saying getting sniffy about corporate america, but it wasn't about the money, right? it is real money, real money and real lives saved. but the real agenda going on was twul actually all of the advertising

>> let's talk about the final markets and turmoil it is made for a pretty dower group of people here. bill, last year you wrote about how we're making massive progress in the world and we're really taking on inequity and this is a very hopeful time. how do you spread that when we have this kind of a backdrop. >> we are making progress, the innovation coming along, new vaccines or connected farmers with better advice, all of these taking are africa and india and taking poor people and lifting their lives up. they solve acute problems.

for some companies that is a real blessing. for others it is a huge challenge. but you know, it is not like a tragedy that things are less expensive than they have been in the past. >> the paris attacks this year, i know you had to cancel a couple shows, and you reached out to the band that was playing -- >> we were rehearsing a mile from the first explosion. so we were evacuated. all of our people were safe eagles of death metal were stuck, and it brought home the nature of terrorism. but with locals now gone global. so we're kind of familiar to it

feeling or the feeling of defiance. a joyful feeling in paris. with that energy, you can defend europe. and that sense of being european came as, i think if you bottle that, there are not many problems you cannot fix with it. >> up nekts " xt "on the money." we'll look at your week ahead and how the stock market ended the week. its sleek design... is mold-breaking. its intelligent drive systems... paradigm-shifting. its technology-filled cabin...jaw-dropping. its performance...breathtaking. its self-parking...and self-braking...show-stopping.

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for more on our show and our guests, you can go to our website. >> here are the stories that may impact your money. early season peaks. on tuesday the federal reserve open market committee begins a two-day meeting. the first since they raised interest rates last month. thursday is durable goods and also 31 years since "we are the world" was recorded.

gross domestic product for the fourth quarter of 2015. that is the show for today, i'm becky quick. thank you so much for joining me. next week, move up to business class. we'll show you a new way to get a upgrade on your next flight without the sky high fees.