and glenn hubbard who's the dean of the columbia business school and was one of the advisers to georgebush. and i want to talk a little bit about the world economy, and i want to start -- oops, i want to start with the emerging markets. so a couple years ago i think one would have said that the developed world was faltering, that thank god for the emerging markets, china, india and the rest of them, they were providing the global demand, and we in countries like the u.s. and europe better get used to this because we are going to be less and less relevant in the futures we merging markets. and -- with emerging markets. i would say in the last six months maybe there's been some rethinking about that. so my question to you is, is the golden age of emerging markets behind us, and what are the chances, the factors that the next decade won't be so pleasant as the last 20 or 30 years will be? let me start with you. >> well, you know, if you look back over the last five or six years, even africa had, you know, over 5% growth rates. and while, you know, there's been a slowdown, if you look at s

my friend glenn hubbard distinguished economist is worried about frothiness. i don't know.frothiness. gold prices. >> we're not there yet, larry. the other thing -- >> go ahead. >> i don't think we're there yet. but there's a potential for a melt up. but as i said, most likely scenario is that earnings will drive the market higher and hopefully not in a frothy fashion. >> all right. >> one thing that does scare me -- >> got to jump out. thank you. good luck on the search for health insurance. up next on can you identify, low in a weak job market i can't think of anything dumber than doubling the minimum wage, guaranteed to create higher unemployment for the very young and minorities who are at the bottom of the scale and need a break for opportunity. when will people learn. we'll discuss all this coming up next on the kudlow report. americans take care of business. they always have. they always will. that's why you take charge of your future. your retirement. ♪ ameriprise advisors can help you like they've helped millions of others. listening, planning, working one on one.

accuse me of labeling print as venerable, which tells you what it's like to be a reporter, and glenn hubbardthe dean of the columbia business school and was an advisor to george w. bush. i want to talk about the world economy and i want to start with the emerging markets. a couple of years ago, i think one would have said that the developed world was faltering and thank god for the emerging markets, china, india and the best of them, who were providing global demand. in countries like the u.s. and europe better get used to this because we will be less and less relevant in the future with emerging markets. and i would say that coming the last x months, maybe there has been some rethinking about that. so my question to you is is the golden age of emerging markets behind us? what are the chances were the factors that the next decade will be so pleasant for emerging markets as the last 20-30 years have been? >> even africa had 5% growth rates. there has been a slowdown. if you look at some of the biggest countries, it looks like i will have a good third quarter. china came in at an annualized ra

and glenn hubbard, the dean of the columbia business school and was an advisor to george w. bush. i want to talk about the world economy and i want to start with the emerging markets. a couple of years ago, i think one would have said that the developed world was faltering and thank god for the emerging markets, china, india and the best of them, who were providing global demand. in countries like the u.s. and europe better get used to this because we will be less and less relevant in the future with emerging markets. and i would say that coming the last x months, maybe there has been some rethinking about that. so my question to you is is the golden age of emerging markets behind us? we think growth in the emerging markets will be over five percent and we think that will continue. we will not see the 10% growth rate that we saw prior to 2000 and eight. a lot of the fundamentals are in much better shape than we even knew. thoughtand eight, we that america was going to go off the deep into with the financial crisis, they have kept a five percent growth rate all the way through. i w

fisher, who accuse me of labeling print as venerable, which tells you reporter,like to be a and glenn hubbard, the dean of the columbia business school and was an advisor to george w. bush. i want to talk about the world economy and i want to start with the emerging markets. a couple of years ago, i think one would have said that the developed world was faltering and thank god for the emerging markets, china, india and the best of them, who were providing global demand. in countries like the u.s. and europe better get used to this because we will be less and less relevant in the future with emerging markets. and i would say that coming the last x months, maybe there has been some rethinking about that. so my question to you is is the golden age of emerging markets behind us? what are the chances were the factors that the next decade will be so pleasant for emerging markets as the last 20-30 years have been? even africa had 5% growth rates. there has been a slowdown. if you look at some of the biggest countries, it looks like i will have a good third quarter. china came in at an annualized rat