overall, especially when you look at third and fourth tier tooes, where there is just much building, are not going to see very much in the way of new property development. first half of the year, construction starts by area were down 15 eight -- 15.8%. >> leland, what do you think when you see that number? i think the biggest thing about property is not that it's going to be the growth driver, they don't want to falling off a cliff, they don't want to be the problem area. we've seen some very mediocre to so again,ata, property is not looking good, but it does not looking terrible yet. joe: another thing taking up his government spending. is this sustainable? will this work? stimulus got the interest-rate, reserve great requirement. we show that for the last two quarters that real interest rates are falling. there is not a monetary policy solution to china's growth worries. the fact that they can shift onto stimulus, tools? they do, but uncharted territory. alix: you were shaking your head, nodding in agreement. >> everyone says that they have tools in their toolbox come up for reduct

and i want you to talk about that, but the fact that the cia director's e-mails were recently oomph tooes that add getting something passed in congress? rep. eshoo: every day, something comes out relative to cyber security. threat, it is a taking place around us both in the private sector, name brand companies, and the public sector. privatehe issue is of a sector, 10% is the government, federal government functions, including intelligence communities, the defense community, are all very sensitive and important. billions of information -- consumer information have just gone wherever it's gone. what i am struck by is what analysts have instructed, that there are two main pillars relative to cyber security that need to be honored. 90% of these breaches are due to two actors, a lack of hygiene in the system and a lack of security management. and so my legislation directs itself towards these two pillars. them to come up with standards in cooperation with homeland security and -- i'm trying to remember the other agency. morecongress has paid attention to, i think, is what you do in the afterm

conclusion the north korea, which is not nearly as technically capable as the chinese or the russians how tooethey were the ones who hacked into sony pictures. >> chinese have been accused of doing this for industrial espionage. so if it all goes down. if they succeed in hacking us in a cyber attack on the nation. then our cell phones don't work, right? >> that's the easiest part, bill. your electricity doesn't work. your lights don't work. your refrigeration. >> all computerized now. >> well, it's all in the electric grid. if the electric grid comes down, everything in the city like new york that runs on electricity which is just about everything is down. >> all right. so then we have zombie apocalypse. the blackout in the 70's. so you have disorder, an arcky, all of that do you foresee that happening? >> it is entirely possible. the only people who can stop it from happening? the military. >> military would have to be called in and all of that. >> that's exactly right. the patrol car is that the department of homeland security does not have a plan for the civilian population in the event tha