if the chinese adopt our lifestyle, we are all goners, we know that. it is not the third world anymore, it is the developing world. well, they are developing and they want things, too. the 21st century will be about competing for resources. there are not enough in a consuming world when there is no limit of appetite. it is a philosophic position. it would be interesting for people to live in a world as people did at the beginning of the modern era and centuries before. people were not relentlessly comodified, the way they are now. people should live in an environment where nothing is bought and sold, just to see what it is like. you know what that is like, within families. there are family that fight about inherited, property, but in any decent family, you are not buying and selling to one another, you are giving. that is a gift economy. it is predicated on the idea that some things have an unconditional value. you cannot put a price on it. we just said, everything is a gift in our city. you cannot buy or sell anything. there is no advertising. you are

i figured this because every smart person i knew told me italy was a goner.taly sold that paper this morning at the lowest rate in more than a year. it paid 1.819%. tax increases and kbrout initiatives. it seems to be working. think about it. 4 months ago, a fabled 7% being breeched. every time the ten-year touched that market, we got hammered here. we lost 400 dow points. i don't know if that paper should be trading any lower than that. i don't think i would be a buyer at 4% italian bonds. the fact is the italian market is ready and cheap source. it is a major reason why we are having the best quarter since 1998 in this country. it is a major reason schismly because it doesn't matter anymore. if italy doesn't matter anymore, the most important conclusion at the conclusion of this bill auction, the world is a better place. >> great stuff. next up on kudlow, let me play you a clip of ronald reagan in november, 1980. it is a favorite of mine. it's been used every year since. take a listen. >> that you would ask yourself, are you better off than you were four ye

. >>> we're back with decision 2012 and questions of whether newt gingrich is a goner. republican presidential candidate has gotten rid of his campaign manager, a third of the staff and cutting back the campaign schedule because he is low on delegates, cash? he plans to reach out to delegates one-on-one in an effort to win the nomination and at what he believes will be an open convention come august. in a radio interview this morning newt gingrich defended this strategy. >> until mitt romney has 1,144 locked down solidly i owe it to the people that helped me for the last year to represent their views and values and i find it fascinating, none of you guz call a football team or basketball team and say why don't you drop out? that's exactly why we're downsizing and we need to be able to stay in. >> we will bring in our political panel. steve, i want to read something from salon, the dilusions that sustain newt gingrich. they say what he is doing is accommodating a certain amount of reality without acknowledging it. this way he saves face and money while still getting to i

the rise of the ipad some saying the age of the cpu is a goner. others say that's bunk. we'll find out the truth. >> that's what we do here. we have the tiger mom and she's got a new article out about the rise of billionaire women in china. it's really interesting. that's also coming up. now to the markets, let's take a look at the stocks as they close out the week with a third straight rally. the dow is currently to the upside about .03%. s&p in the black and home builders for the sektd straight day are among the best performers. the nasdaq meantime inching closer to 3,000. it has not closed above that mark since back in december 2000. here, guys, is your stat of the day. the dow is up about 9% away from its all-time closing high of 14,164. that was set back on october 9, 2007. the s&p 500 meantime is about 12% away. well, our bob pisani is standing by on the floor of the nyse. you know, bob, after we got those better than expected jobs numbers, i would imagine there are a lot of people saying to you, bob, if the economy's doing better, why aren't we seeing stocks move

stored in a computer prompting some economists to predict the old- fashioned greenback may soon be a goner. >> there will be a time-- i don't know when; i can't give you a date-- when physical money is just going to cease to exist. >> reporter: economists like robert reich say the demise of cash has been happening ever since our financial fortunes could first be told by a piece of plastic with a magnetic strip. that was half a century ago. now? >> 95% of the transactions in america or more are... now have nothing to do with physical pieces of paper or coins. >> reporter: think about it. taxis, parking meters, tolls, even girl scout cookies. >> did you know we do a debit card now. >> reporter: they don't require cash anymore. all proof, argue some, that cash's days are numbered. >> 22 and 32 years from now, will cash still be here? i think we could put it in the grave already. >> reporter: author david woolman in his new book "the end of money" argues the biggest knock against cash is that it's costly. >> it's really expensive to move it, to store it, to secure it, inspect it, shred it, red

thought he was a goner and at this stage of the game, even though he lost his house, he says he's grateful. >> what did you think? >> i thought it was all over. >> reporter: i bet you did. >> yes. >> reporter: you know, you seem like you are pretty upbeat to me. are you a guy who says you lost your house but you kept your life? >> i'm a christian. the good lord was with me and i am glad to be alive. kireplace that. >> reporter: here's your example of the community pulling together. all of these power crews, out here in the driving snow that is starting, doing what needs to be done now. the most important task is restoring the infrastructure. if you can get a look at the awesome power, as the tornado came through here, knocking down all of these trees. a mother and daughter were killed on the other side of that valley. as we have driven around, the focused intensity of the tornadoes. you drive for miles, you don't see any destruction and you come to a location where the tornado struck down, all the houses are gone, all the trees are over and all the power lines have been knocked down as wel

the house is a goner. let me tell you something else. as we continue to look at the damage here, we're also looking ahead to the weather systems. rob marciano has been tracking this for us. i don't think you've been sleeping much. these things change all the time. we have three states, right, that are in possible direct path? >> yeah. more than that, ashleigh. this will affect a wide swath. the bull's eye is in a core of three states. we're already starting to see storms fire ahead of this system. severe thunderstorm watch has been in effect for parts of missouri and a warning just in effect a few minutes ago for jefferson city. so these storms will continue to fire. just thunderstorms that create some hail and high winds. the realtor nadeau threat will come later in the day as we get the main system. this low will intensify. a little different situation than the last go around. unfortunately affecting the same people. this will move off towards the north and east. tap the gulf of mexico moisture. winds coming in different directions. th