united states. monetary policy triggered a regrowth in united states economy, and people are seeing that europe has d from the united states, and they are looking to employ the same method. mark: when you hear a story, say what has been happening in greece, does that give you cause for concern? do you fear contagion that could be insightful -- and tactful on your business? alan: that will actually lower production costs in the area and we make a product that goes into solar cells autos, silicones, consumer products -- all of these products have been growing rapidly, so production cost is what is key to us. a weaker currency over there will help us become more competitive in that environment. mark: you talked to us about some of the industries that could see the most benefit from the merged companies. you talk about consumer products. if you are a consumer, watching this interview, you are saying what is this going to mean for me. alan: we are creating a highly competitive producer. since we sell to the silicone industry, through our synergies we are becoming a more competitive producer, so if you ar

draghi has to say and whether europe can finally start joining the united states economy as an engine of growth for the planet. we'll have to wait and watch on that one. back to you. >> all right. thanks so much geoff. greatly appreciate it. >>> and still ahead on "way too early," game on in chicago after mayor rahm emanuel fails to get enough votes to avoid a runoff. how something that never happened before in the windy city happened last night. >>> plus taylor swift shows her love for the big apple in a big, big way. what the pop star has done for kids in new york city. >>> and speaking of which check out these pictures of the hudson river. manhattan encased in ice as the south braces for even more snow. bill karins is here with the latest on the winter's wrath, straight ahead. >>> the incoming scud or the debris from it wrecked a two-story building that was housing u.s. soldiers setting off a huge fire. again, at least 12 are dead. there are supposedly many many injured. pentagon has confirmed that a missile has landed at what they called a military barracks just outside of duran.

i thought it was a provocative piece that what david is arguing is that united states economy now is r than anyone else's economy in the world. you have a situation where oil prices are down very low. it is hurting regimes like iran hurting russia as well. united states couldn't have a stronger card to play than it has before. he is saying start playing that card now. >> thank you very much mark murray, as always. >> thanks. >>> let's go to a disturbing story from missouri. four adults under arrest accused of taking part in an elaborate, terrifying kidnapping of a six-year-old family member all in an evident to teach the child a lesson about stranger danger. "today" show willie geist has more on this bizarre story. >> reporter: according to a police report the six-year-old's mother grandmother, aunt asked a 23-year-old, a family friend to kidnap the boy. the reason, to scare the six-year-old, teaching him a lesson about being too nice to strangers. >> they asked him, can you do this for a family favor, our son is too nice, too open too polite. >> reporter: monday he was walking home f

we need him to intervene for the good of the california economy and for the good of the united states economy. >> they are closed for the holiday weekend. were also closed last weekend. it's estimated a lock out or strike could cost the u.s. economy $2 bill yoon day. >>> oregon governor is officially being investigated. the u.s. attorney's office issued it just hours after he resigned yesterday. they are looking into allegations that his fiance used her influence for personal gain. he reportedly got more than $100,000 in consulting fees while all along advising him on that policy. kate brown tax over as governor on thursday. >>> well san jose is making a hard pitch to try end a heated battle with pensions with city workers. the police department has been at the center of this. officers blame pension cut for huge turn overs and a staffing shortage. they have been seeking $50 million. the mayor said he's willing to meet the workers half way. >> i am confident only way we get to a solution is by negotiating. certainly it's our job city leadership to take the first step to build the bridge half w

they need to get involved because we're talking about $3 billion a day that this hurts the united states economy. that's something we really can't afford when you is a perilous economy to begin with. we need to do something and do something fast. i think what they announced this weekend, sending the federal representatives over there will help. we need to make sure we get both sides to the table and work a deal that works both sides. i think it's there and the deal can be done. we need to make sure that the federal government puts pressure on both sides to move a little bit. >> congratulations on a fabulous quarter. waste management on fire. good to see you, sir. >> thank you jim, by the way. >> yeah. go ahead. >> by the way, being from new orleans i'd be remiss not to wish you a happy mardi gras and i saw you had your birthday last week. happy birthday. >> thank you on both counts. i appreciate it david. a lot of good things happening to this stock. a lot of good things happening to the company. i think it goes higher. >> coming up whether it's in your palm on the wrist or right before your eye

it's only a small fraction of businesses that make it, so again, a striking feature of the united states economy, we have the surge in good times, surge of entrepreneur shim and ship. the flexibility part. well, what this means is that there's lots of restructuring going on in the united states economy as a result of this. and the u.s. has been quite flex bable and fluid in terms of being able to move workers to other kinds of productivity uses. and the fluidity has helped, we've got to remember, it's not just businesses expermenting. workers themselves. a key way workers build their careers is yob hopping. we know particularly young workers, the way they find the right match it's not just at the high-end, it's all over the place. where earnings go up and where again, they find good, lifetime careers is through lots of job hopping. so it showed at least cause us concern that we see now in the data, several indicators i'll say of drk ynamism and fluidity down, especially since 2000. some have been going on before that. but it's especially since 2000. we've seen a decline in entrepreneurship. actu

what's going on, intervene for the good of our california economy and for the good of the united states economy. >> port of oakland and 28 others are closing for the long holiday weekend. contract talks have been dragging on with no progress reported in the negotiations. it's estimated a lockout or strike could cost the u.s. economy $2 billion a day. >>> sfo has been busy, in fact they have set a record for passenger traffic. here's a live look at the airport. you can see why. you can fry in and out of this place on mow -- fly in and out of this place on most days. more than 27 million travelers went through sfo last year and that tops the previous high set in 2013. >>> the airport could set another record this year. several articles are planning to add flights. sfo accounts for more than $6 billion and 36,000 jobs. >>> the turf at levi's stadium is about to go into a deep freeze. the field is being transformed into a hockey rink for a sharks game. and kpix 5's len ramirez got a sneak peek at what the field is going to look like. len? >> reporter: well, veronica, from out here, levi's stadium d

infrastructure but also on other growth projects, for example, the digital economy as i think of the state of the digital economy in the united states. there is a lot of things to be done about the europeans now. i would say that free trade agreement, a conclusion of the free trade agreement will go a long way to effecting growth. germany will? outcome out very forcefully in seeing the negotiations between the e.u. and the united states and free trade. it's in our own vested interest, the interest of the united states and the german interest. we're dealing with g-7 agenda with health issues. what sort of lessons have we drawn from the terrible ebola epidemic. one is that the international organizations and international community has to be quicker in reacting to such situations, and we're also interested, for example, in seeing we're happy to see the conclusion of the conference in germany. we dealt with security issues. it is true that germany celebrates the anniversary of reunification. this could not have been possibly or achieveable without transatlantic partners and we'll always be grateful for this. it is one case in po

but first, the president of these united states gave a speech about the economy in the motor city -- the next president of these united states give a speech about the economy in the motor city. john, how did jeb bush do? >> he did all right. not great. >> the prompter. >> it was a piece of symbolism going to detroit the inner area, talking about mobility being more inclusive. that's a good place to start. >> the last few presidents gave speeches that would wow the crowd. he was very loose during the q&a. i still say the strength of the messages it can be given during the general election. it takes a lot of guts to run for your party from nomination and say exactly what you would they if you were the nominee. he did that. >> he talked about immigration. he did not use the words common core, but he talked about education standards. he clearly said, i am not going to give an inch of those things. >> and once again, rand paul put out his previous policy positions and welcomes the debate. i think mr. bush did himself a lot of good today because he showed who he is and that it is the key --

the economy is growing at a much better rate than most of the developed world but within the united states it isn't an economy with broad opportunity as there should be. i think the provisions in the budget provide the first step to solving that. some of the characterizations of the budget had a bit off. it isn't about being against one group and for another group. it is about making the system work for everyone. and the truth is we have distortations that allow those with the most income to avoid paying taxes on the same bases all of us do. let me use an example of stepped up base and compare to the way we pay taxes on ira and 401-k. for anyone who needs to use the assets they build up for retirement you pay income tax on that. if you never need access to your savings, to your accumulated earnings, you can pass it on tax-free. that is not right. our system ought to treat all earnings in a similar way. it isn't against anyone. it is for everyone. >> thank you. >> mr. johnson? >> thank you mr. chairman. you know welcome, mr. secretary. as you know you are also serving as the managing truste

the united states is 25% of the world economy economy, controls all the oceans and bears responsibility by default in some way for everything. however, the question of europe is a european question. the attempt to shift the burden to the united states is the same as shifting the burden of the civil war. one of the things that happens when these crisis happened is what happened in russia ultimately was russians doing. what happened what happened in the united states is ultimately the american doing. the gdp of europe is greater than the united states. the idea that have the united states engaged in trying to rebuild russia and be reason to deeply of the united states can be shown to intersect with everything that happens. it cannot be held morally responsible. if you want to talk about the fact that the united states did things that may have moved nations, i we will fully agree. if you want to say that absent the united states this would not have happened, i don't think that is true. what happened in happened in russia had a great deal to do with germany and the european union and the eu

problem that the united states had when we were founded, a we were called the united states, emphasizing the states and not the nation. we had a problem of this sort, which is the economy of the south and the economy with the moral understanding of what the united states meant and we met at gettysburg for a great conference. and we agreed with much blood and violence and horror that this was one nation under god, indivisible. with hopefully liberty and justice for all. who will die to preserve the european union remap who will go to gettysburg and where will the grand army of the republic be raised from? and there is no center of gravity beyond an economic center. the basic reality of europe, which is a continent of nationstates who share this remains the case we have just seen the decision by the european central bank to do what is called qe. it's a little too late but it's interesting to see how they do it. the european central bank will not distribute this money. each of the national banks will print the money and they are allowed to buy only their own debt. why is that? because no nation wants to take part in the default of another nation. no nation wants to be lia

united states had. when we were founded we were, quote, these united states, emphasizing it was the states not the nation. we had a problem of this sort, the economy of the south and the economy of the north divers, moral understanding of what the united states meant, divers and we met at gettysburg for of great conference and we agreed at gettysburg with much blood and violence and wars that this was one nation under god, indivisible, with hopefully liberty and justice for all. who will die to preserve the european union? who will go to gettysburg? where will the grand army of the republic be raised from? there is no center of gravity in europe beyond the economic center. the basic reality of europe a continent of nation states. tiexiera note who share note fate, remains the case. it is interesting how they have to do it. the european central bank will not distribute its money. each of the national banks will print the money and they are allowed to buy only their own debt because no nation wants to be liable for another nation's irresponsibility. each nation wants to control how it spents. they don't want the european central bank to decide what

the economy grew 2%, significantly less than the united states when normally we tend to grow a bit more than the united states when the united states does well. that's really for me the central issue. can he get the economy to grow? has he been so severely weakened that he won't be able to? and is he able to have a new beginning? there is nothing to indicate that he is being able to do this charlie. rose: al hunt on the story with shaun donovan, director of the office of management and budget, anthony foxx and a look at mexico. >>> funding for "charlie rotes" is provided by the following: >> rose: funding for "charlie rose" has been provided by: >> rose: additional funding provided by: >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> charlie, the obama administration unveiled it's $4 trillion fiscal 2016 budget with projections for revenues and spending out for 10 years. here to talk about it is the man who assembled it shaun donovan, the director

this was same problem to united states had one we were founded and recalled these united states emphasizing the states. we had a problem of this sort, which was the economy of the south and the economy at the north the verge, the moral understand what the united states meant diverse and we met at his work for a great conference and we agreed with as much blood and violence in order that this was one nation under god, indivisible but hopefully liberty and justice for all. who will die to preserve the european union? who will go to gettysburg? where will the grand army of the republic be raised from? there is no center of gravity of europe beyond the economic center. the basic reality of europe, which is the nation -- a continent of nations gave to share no fate remains the case. we've just seen the decision by the european central bank to do what is called kiwi which is print money. too little too late, but they will print money. it's very interesting to find how they have to do it. the european central bank will not distribute this money. each of the national banks would print the money and they're about to but only their own debt. why? because no nation

united states. my worry now is that those imbalances are going to start rising again. u.s. economy is finally starting to perform in a healthy way and our trade deficit is widening. probably say the december numbers were somewhat disturbing, so it's definitely an issue we need to focus on. one aspect is the exchange rate where we have an intense dialogue with china and there's been a certain amount of progress in terms of china letting its currency appreciate. at this point i feel the bigger issue is market access. china remains closed in many important sectors, both in terms of trade and foreign investment. i think it's in china's interest to open up those sectors. it would have a significant effect on the united states' economy and the united states would benefit from being able to export more and investment in china. so, i think that's where the dialogue is now and that's why things like trans pacific partnership and potential by lateral treaty these are very important because they would signal china is serious about opening up and meeting international standards. that are appro

for example, the digital economy, the state of the digital economy in the united states. there is a lot of things to be done by the europeans now. i would say that a free trade agreement, the conclusion of a free trade agreement would go a long way towards boosting growth. we know you're very much engaged in the asian pacific area. and germany will come out forcefully in seeing that the negotiations between the eu and the united states on free trade agreements are pursued in a vigorous manner. it's in our own vested interest in the united states of the interest but also in the german interest. we're dealing basically on our g 7 agenda with health issues. let me just mention one. what sort of lessons have we learned for example from the terrible ebola epidemic. i think the one thing we've learned is that the international organizations, the international community has to be quicker in reacting to such epidemics and the g 7 can give a very important contribution to doing this. we're also interested, for example, in seeing them be successful. we're delighted to conclude the

benefits united states economy.w markets 90 miles from our shores are ready for industries like agriculture telecommunications infrastructure technologies. both countries will enjoy greater opportunities for cultural exchange. on both sides of the aisle historically there has been strong support for stronger u.s. cuban ties. we have worked together with our public and members. on monday we were in the house with jeff flake and jerry moran and now we are in the senate working on these issues. we met regularly and we will continue to try to do that to foster this process. this is a historic opportunity. we need to foster the kind of change that will be critical for the united states and for cuba. congresswoman anna eshoo. >> thank you. good afternoon everyone. thank you madam leader for calling us together today and for having the important sense of time and putting together a delegation at this time from the house to cuba and then onto the dominican republic and to haiti. i will be very brief on my roll and part of t

i think if the states in the additional economy in the united states. there is a lot of things to be done by the europeans. i would say that a free trade agreement would go a long way towards increasing growth. we know that you are very engaged with the asia-pacific area. germany will come out very forcefully and seeing that the negotiations between the eu and the united states on free trade agreements are pursued in a vigorous manner. it is in our own best interests and it is also in the united states enters. we are dealing with the g7 and initiative with health issues. what lessons have we drawn from the terrible ebola academic? -- epidemic? we have to be quicker and reacting to the next epidemic. we are also interested, for example, in seeing david be successful. this has just been completed it in germany so successfully. we have dealt with security issues this morning. this year celebrates the 25th anniversary of the reunification of germany. this would not have been achievable without transatlantic partners and the support of the united states of a

digital economy i think of the state of the digital economy in the united states there is a lot of things to be done by the europeans now. i would say that a free-trade agreement, conclusion of a free-trade agreement would also go a long way towards boosting growth. we know very much you are engaged in the asian-pacific area and there are a lot of trade agreements there as well and germany will come out forcefully seeing that the negotiations between the e.u. and united states on free-trade agreements are pursued in a vigorous manner. it is in our own vested interests and interests of the united states but also in the german interests. we are dealing basically on our g7 agenda with health issues. let me just mention one. what sort of lessons have we drawn, for example for the terrible ebola epidemic? i think one thing we've learned that is that international organizations, the international community has about be quicker reacting to such epidemics and g7 can give important contribution to doing this. we're also interested, for example, in seeing gavi be successful. we're like to conclude

economy. if i think of the state of the digital economy in the united states, there is a lot of things to be done by the europeans now. i would say that a free trade agreement, the conclusion would also go a long way towards boosting growth. we know that you are very much engaged in the asian pacific area. there are a lot of free trade agreements there as well. and germany will come out very forcefully in seeing that, the negotiations between the eu and the united states on free trade agreements are pursued in a vigorous manner. it's in our own vested interest, and the interest of the united states, but also in the german interest. we are dealing basically on our g7 agenda with health issues. let me just mention one. what sort of lessons have we drawn, for example, from the terrible ebola epidemic. i think the one thing that we've learned is that the international organizations, the international community has to be quicker in reacting to such epidemics, and the g7 can give a very important contribution to doing this. and we're also interested, for example, in seeing -- we're happy to be able to

around there are good reasons to be fairly optimistic and to be opt stickimistic about the united states economy's really done a remarkable job of recovering from what looked like it was going to be the most massive crisis, close to the mast massive crisis we've ever had. it was a very serious crisis. did not come close to matching the great depression and for that we have to thank the people who made the policy decisions that kept us away from that. so i'm optimistic about the capacity of this economy to do well over the long run and about the current situation. >> stan fischer, thanks for joining us. >> thank you steve. >> kelly, back to you. >> thank you so much. that's our steve liesman with the fed vice chair stan fischer, and, steve thank you so much. interesting the contrast between his remarks, especially at the end on that optimistic note and what we heard from alan greenspan yesterday but i guess you would imagine the fed vice chair to strike that kind of optimism. >> i think the key headline, it's about time to raise rates. that's what mr. fischer said. zero interest rate policy is fa

for educated economies like the united states, we are going to be a big beneficiary of that. my worry about jobs in the next 10 years is going to have a bigger impact in these rising population economies that are just beginning to find a route towards the middle class. these economies have been based -- if you talk about the emerging market, most of the emerging markets, their economy growth was based on cheap labor. even in china today, china was the largest purchaser of robotics of any country in the world. china's wages have gone up considerably. their middle class has grown dramatically. china, to remain competitive now, has to start having more efficient factories, which means less even labor, which means more mechanized processes. i believe the manufacturing process worldwide is going to change, but the engine of this ingenuity in the united states and over a long cycle will have displacement -- in the long cycle, we are going to be creating men and women who will be able to deal with this technology, to deal with -- charlie: more leisure time? larry: we have an aging po

for example, the digital economy, the united states there is a lot of things to be done by the europeans now. i would say that a free trade agreement, for example, would also go a long way towards boosting growth. we know you are very much engaged in the asian-pacific area. and germany will come out forcefully in seeing that the negotiations between the e.u. and united states on free trade agreements are pursued in a vigorous matter. it's in our own best interest and united states and german interest. we are dealing basically on our g-7 agenda with health issues let me mention one. what sort of lessons have we drawn from the terrible ebola epidemic? the one thing we've learned that the international organizations and community have to be quicker in reacting to such a give a important contribution to doing this. we're also interested for example, in seeing be successful and being able to conclude the replenishment conference and just completed in germany so successfully. then we dealt with security issues this morning, it is true germany celebrates reunification. this would not have been

i think for educated economies like the united states we are in the next ten years we are going to be big beneficiary of this too. >> my worry about jobs in the next ten years it will have a bigger impact in the rising population economies that are just beginning to find a route towards middleÑi class. these economies have been based and if you talk about the emerging market most emerging markets were based their economy growth was based on cheap labor. even in china today, china was the largest purchaser of robotics of any country in the world. china's wages have gone up consider my as we talked aboutxd the middle class has grown dramatically there. china to remain competitive now has to start having more efficient factories which means less human labor which means more mechanistic processes .. and so i believe the manufacturing process worldwide is going to change, but the engine of this ingenuityçó is in the united states and over a long cycle, not a short cycle we will have displacement in the short time and in the long cycle we are going to be creating more and more men and women

united states related to the growing of cotton. but if you look at it as trade in the united states the majority was cotton. the united states matter to the global economy because of this. that is how the united states came to play an important role in this was literally on the stage. >> i have had the pleasure of reading the book and i don't want to give too much away and i have lots of them and nothing but tremendous respect for the work. so one of the central issues that you're trying to deal with here is the great convergence. and you kind of preview this argument or introduced it to us in the talk. but the great convergence required a certain kind of state and the europeans had other political structures in other regions of the globe. it made me wonder, are you sort of implying there that they're other political formations and capable of the same sort of violence the europeans states are capable of to perpetuate to create capital populism? and also was it because we had this very violent state in creating this world i was left to wonder what you thought were how you kind of think about liberalism. is it just simply like an ideological cover for a y

talk to me about how sensitive the united states economy is to what's happening overseas. r? how do you put it into context? >> so the u.s. economy is still a very big mostly domestic economy. it has been for a long time. trade channels are bigger than they used to be but still we're mostly a domestic economy. so yes what happened in europe and around the world is one number. but it's not usually the determinant number. and so while it is interesting to think and imagine how this might help europe and others how it might play out for the u.s. economy. but i don't think that the magnitude of those effects are enough to sort of derail the kind of growth and the kind of performance that we've been seeing. >> it's kind of funny. we could import a whole lot of what's been happening in europe through traders and inputting the fear from over there. but in terms of the ships and their hard goods, there's not a lot. it's like, we're one of the least sensitive developed economies in the whole world compared to -- britain is 27% to 30% of their gdp. we're 13% or 14%. >> multinationals

of course jordan as you mentioned has a strong ties with the united states, and united states have supported jordan economy and military for years. for those two reasons jordan feels now the government should respond quickly to at least please. opinion and calm down the situation in jordan in particular and move on toward more contribution of the other players of the coalition. >> what are the dangers in this for jordan? first of all being involved in the coalition's fight against isil in the first place but secondly of upping its commitment. >> because of course, jordan will not be capable to be -- to act or to be in this -- to play this role basically because this is, you know, a consuming war and in the last six months, basically, there was an effort from 60 countries, 20 of them, they had meeting january 22 in london and they will have a meeting on the eight of february and another meeting on the 18 of february in washington, so jordan cannot play the role itself. it has to cooperate with other countries. the united states of course is one of the many players and without having united states onboard, j

economies. and secondly, massive reduction in hours of work. we went from average hours being 3000 hours to under 2000. neither of those in the united statesneither of those conditions offered at the moment. we are a mature economy we haven't slow growth. we have a new report about the member economies. we are facing a future of low gdp growth rates over the next decades. we have big barriers to the reduction of hours in the united states. we cannot just assume that we are going to be able to absorb. we really -- it is -- if this sector wants to be able to not only promote gains in the narrow but also have the whole thing work out in a way that doesn't yield public good, we have to be thinking about those larger labor markets. >> i will hop in here. some of this is the way we want to look at the market. if you're looking at something and we have maxed out what we are capable of doing in the market place, i think that this is a bigger problem. but if you look at it as, the pie is so much bigger than we realized. i will give you an example, our chicago team reported back in 2013, that they added 25,000 rides to the economy in chicago. they d

what do you in your colleagues see on that agenda and is the united states poised to lead the global economy since some people have said here on bloomberg that we are the least dirty shirt in the world. we are not where we want to be but the u.s. is showing signs -- signs of momentum. >> you heard it awful lot about the united states about a home for the global economy is one of the leading lights in the global economy. we are thrilled to be in that position and would be even happier if the global economy was firing on all engines, but at least there is a recognition we are leading the way because of the choices we made in fiscal and monetary policy that put us in this place. >> the chairman of the council of economic advisers joining me in the studio. a pleasure to meet you. up next, we will the latest world news and speak live with the head of the centers of disease control and prevention about an effort to get the measles outbreak under control. ♪ >> it is 15 minutes past the hour. let's check bloomberg world news. in the war on terror, the u.s. says intelligence has not been able to dete

percent of jobs in the local industries in the city that are a size typically in the united states the sector of our economy is the weakest performing we're losing jobs in a typical city of our size would have the relative performances that is a key finding i think in the study goes a long way for the demographics of san francisco the way it does that the type of jobs it supports in job i apologize for the jair in the corner what we wanted to look at was for each industries how do the jobs line up in terms of the education that you need to work in the industry or the employees in that industry typically have and how much do necessary pay one the key finding the industries that are doing well in san francisco the creativity cluster and the other clusters either provides high paying scombrobz for people or provide low paying jobs generally important people that don't have formal education i don't remember the exact number somewhere in the area of 70 to 75 this is quite a low wage creative industries wells the financial and professional service industries tend to offer more medium and particularly high wage bu

for example, the economy of the state of the economy in the united states. there are a lot of things to be done by the europeans now. i would say that a free trade agreement, conclusion of free trade agreement would go a long way towards boosting growth. we know very much engaged in the pacific area there are a lot of free trade agreement there as well and germany will come out forcefully in seeing that the negotiations between the e.u. and the united states and on free trade agreements in a vigorous manner. it's in our own vested interest in the united states and german interest. we are dealing with our g-7 issue on health issues of the let me mention one. one lessons have we drawn for example, from the terrible ebola epidemic. i think one thing that we learned is the international organizations, the international community has to be quicker in reacting. this could be a very important contribution to doing this. and we're also interested, for example, in seeing gabby be successful. we are delighted to conclude the conference that just completed in germany s

disruptive technologies the state of the economy, and how the internet of everything will transform your life. >>> finally, a fascinating preview of the next few decades in which the united states will stay right on top. you won't want to miss this. >>> but first, here's my take. president obama stands accused of political correctness for his unwillingness to accuse groups like isis of islamic extremism choosing a more generic term -- violent extremeism. his critics say you cannot fight an enemy you will not name. his supporters feel his approach is too professorial. far from being a scholar concerned with describing the phenomenon accurately, the president is actually deliberately choosing not to emphasize isis' religious dimension for political and strategic reasons. after all, what would the practical consequences be of describing isis as islamic? would the west drop more bombs on it? no. but it would make many muslims feel their religion had been unfairly maligned, and it would diss heart disheartened leaders that continually denounced them as a group that does not represent islam. the islamic state is islamic, very islamic. the essay is an intelligent and detailed a

despite the overall improvement in the us economy and the us economic outlook longer-term interest rates in the united states and other advanced economies have moved down significantly middle of last year. the declines have reflected disappointment in foreign growth and changes in monetary policy abroad. another notable development has been the plunge in oil prices for the bulk of which appears to reflect increased global supply rather than we could command. while the drop in oil prices we will have negative effects on the energy producers and probably result in job losses in the sector causing hardship for affected workers and there families it we will likely be a significant overall plus on that for our economy primarily that boost will arise from us households having the wherewithal to increase there spending on other goods and services as they spend less on gasoline. foreign economic foreign economic development could pose risks to the us economic outlook. although the pace of growth abroad appears to have stepped up slightly in the 2nd half of last year foreign economies are confronting a a number of ch

economies need to be adjusting. it's easier if your labor force is growing. united states is the only advanced economy where the labor force we will continue to grow at a healthy rate primarily because of immigration. so after about 2030 is not obvious that the chinese economy will be going faster than the us economy. a lot of lot of uncertainty depends on what these countries and societies do but looking out further is just as likely the us economy will need to emerge as the biggest economy in the world later in the century. just as likely as china being the largest economy later. >> quite a remarkable prognostication. >> a lot of uncertainty. were talking about scenarios >> is nice to be on a panel with the. you were about 30 feet high. thank you for that crisp explanation. what i would like to do now is go down and asked the 2nd main question simpler and is the same for all of you. to get the conversation started the conversation i know we we will have for you what should the united states do about the current situation? the have laid out a number of aspects. economic f

economy. the only that we have been associated with united states for the last 120 years, we haven't really developed any economy that would coast into some direction. are you are discussing which way to go as far as direction of our economy. here we are struggling to find if we do have an economy or not. we lived under the mercy and survived under the mercy of the federal government. we don't really have a strong economy. we do have a couple of galleries which rely solely on the availability of fish and the fishing industries. it is getting tough. it is getting to be a national issue with the chinese and other foreign countries who are trying to take advantage of the fishing industry. we are the victim of such impact on our economy. what we have been discussing this morning, as insular territories and commonwealth, we need to come together to find some ground within the relationship between the federal government and the territories of the commonwealth. we feel we have been left out many times, especially in our location, where it is 18,000 miles from washington. we are the furthest of american soil

economy. in the united states, there is a lot of things to be done by the europeans now. i would say a free trade agreement would go a long way towards boosting growth. we know you are very much engaged in the asia-pacific area. germany will come out forcefully in seeing that negotiations between the e.u. and united states on free trade agreements are pursued in a vigorous manner. it is in our interest and in the interest of the united states. we are dealing with health issues on the g-7 agenda. from the ebola epidemic, we have learned the international community has to be quicker and reacting to such epidemics. germany can give an important contribution to this. we are also interested in seeing it be successful. we are delighted with the conference just completed in germany successfully. we dealt with security issues this morning. this year, germany celebrates the 25th anniversary of reunification. this would not have been possible without transatlantic partners and the support of the united states of america. we will always be grateful for this. it is one case in point

and we also have to remember that in the early 1800s the united states was still a primarily agrarian economy. most people and most founding fathers and politicians and other members of society were earning their living somehow through what we might call today biotechnology. and plant biotechnology was really at the center of that. the growing of plants and acquiring of new plants representative technology that could drive new forms of income and new innovation. this is instantly grasped by congress. wilks did not have to heart of the time securing some funds for the stewardship -- of these plants. from 1849 to 1850 congress had a perforated the funds and the -- had appropriated the funds and the first permanent greenhouse of the united states botanic garden was being constructed and completed in 1850. so the plant collection that was picked up during the expedition in the pacific found a permanent home on the block where we stand. it is always fun to think about how much money was expended a long time ago. the original greenhouse of the botanic garden cost $5000 in 1850. and a gentleman was

economy and the u.s. economic outlook longer-term interests in the united states and other economies have moved down significantlysince the middle of last year. the declines have reflected at least in part disappointing foreign growth and changes in monetary policy abroad. another notable development has been the plunge in oil prices. the bulk of this decline appears to reflect increased global supply, rather than weaker global demand. while the drop in oil prices will have negative effects on energy producers, and will probably result in job losses in this sector causing hardship for affected workers and their families it will likely be a significant overall plus on net for our economy. primarily that boost will arise from u.s. households having the wherewithal to increase their spending on other goods and services, as they spend less on gasoline. foreign economic developments however, could pose risks to the u.s. economic outlook. although the pace of growth abroad appears to have stepped up slightly in the second half of last year, foreign economies are confronting a number of challenges that could restrain ec

. >> when the united states was a developing economy it refused to sign treaties and had no protection foreign creators. charles dickens called it a horrible thing that scoundrel book sellers should grow rich. >> and you say he still made out. >> when dickens visited the united states on a lecture tour he played to standing room only crowd. the equivalent of millions of dollars. >> because they could buy and read cheap books and -- >> they fell in love with him. at his death a significant portion of his estate came from that trip to america. america became one of the most literate nations on earth because books were cheap. it helped us develop be the world power we are today. >> thank you, chris. coming up. who owns a joke? how do comedians deal with joke stealers? and how do ideal with people who steal my brand? >> welcome to 2020. i'm john stosz el. >> i'm john stossel. >> i'm john stossel. 73% of americans try... ...to cook healthy meals. yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day 50+. complete with key nutrients we may need.

united states. the last year the economy created more than 3 million new jobs and that's the best job growth in any single year since the 1990s read the same was true for manufacturing growth and in fact manufacturing jobs grew faster than the overall economy. the deficit cut by two-thirds energy production at an all-time high. all told business has created over 12 million jobs in the last five years and the best news of all wages have started to go up. so america is as well positioned as we have been in a very long time. the question is what kind of choices do we now make together to make sure that momentum is sustained? i have talked about it before and i want to emphasize it again during our conversation. i believe middle-class economics is what works. the idea that not only do we want the country as a whole to prosper but we want to make sure that every single person in this country has the opportunity. if they work hard they can get ahead. prosperity is broadly shared and not only is everybody sharing in that prosperity but everybody is contributing to that prosperity. in order to do that we h

economies need to be adjusting all the time. it's easier if your labor force is growing. the united states is the only advanced economy where the labor force will continue to grow at a healthy rate throughout the century, primarily because of immigration. so after about 2030, it's not obvious to me that the chinese economy will be growing faster than the u.s. economy. you know a lot of uncertainty, a lot depends on what each of these countries, these societies do. but i think looking out further, just as likely the u.s. economy will re-emerge as the biggest economy in the world, later in the century. i think that this is likely as china being the largest economy later in the century. >> quite a remarkable prognostication or at least possibility. >> emphasize a lot of uncertainty. so we're talking about scenarios. >> i want to say, it's nice to be on the panel with you. the last time i was on a panel with you was in taiwan except you weren't there because you had knee surgery. so richard has to do a vtc and you were about 30 feet high in the room. even when you're not 30 feet high your idea