smith ofgressman adam washington state, bob is on the phone from virginia, good morning. er: you are the best moderator on the whole tv network of anybody. host: thank you. smith, representative vladimir putin is really mad because they removed the economy he had in the ukraine. their plan was to bleed the ukraine completely dry. can we trust the new government in ukraine to go with our support and not turn on us? putin will tryr to cut off the ukraine's ability to ship in and out of that country. guest: i think that's a little bit of a misconception. i don't think russia views ukraine with that level of us to live. they don't view ukraine as an enemy. they view ukraine as a satellite. they believe that ukraine should be part of russia. vladimir putin believes they should be dependent upon russia and dependent on the eastern orbit. what set him off is when the ukraine looked like they were going to trade with the eu and were moving toward the west. i think that's a ridiculous miscalculation and it does not we can rush at all. -- russia at all. russia wants to control ukrai

adam smith and his time and hours designing the decent society. and then after mind in the market cannot i worked in these more jewish oriented themes. i continue to think about and right about the history of capitalism, the march issue of the journal foreign affairs in the 2013, a piece called capitalism and inequality, what the right and the left get wrong which explore some of the long-term themes of the history of capitalism. i'm still working on it. it is a big topic. >> is there a date certain when it was founded? >> no. in fact, one of the interesting fallacy's i think in writing the history of capitalism, one that has now been dispelled is precisely this notion of what the was a starting point. the beginning of the 20th century there was a big debate in germany between mocks favre and vendor some bark about to was most responsible for the origins of capitalism. pyridine protestants and the way that there were five or was it juice? actually, it's more accurate to think about capitalism as an extension of a process that has been going on for

thinker called "adam smith and his time and ours: designing the decent society." and then after "the mind and the market" came out, i worked for a while on these more jewish-oriented themes, and i've continued to think about and write about the history of capitalism. last year in, i think, the march issue of the journal foreign affairs in 2013 i had a piece called capitalism and inequality, what the right and left get wrong. that explored some of the long-term themes in capitalism, and i'm still working on it. it's a big topic. >> host: is there a date certain when it was founded? >> guest: no. in fact, one of the interesting fallacies, i think, in writing the history of capitalism, one that's now been dispelled among some historians, is precisely this notion that was confined starting point. in the beginning of the 20th century, there was a big debate in germany between with two men about who was most responsible for the origins of capitalism. was it puritan protestants in the way that faber thought, or was it jews? actually, it's more accurate to think about cap

adam smith, political editor for the tampa bay times, the man who will be up -- i don't know. we'll see if we're up late. we had to look up the recount provision just in case. you never know. >> remember, overseas ballots could be ten days away. >> see, something else to look forward to. thank you, sir. >>> turning now to new developments in a search that's both unbelievable and unprecedented in modern times, entering a fourth day with not a single sign of that massive boeing 777 that vanished off the coast of malaysia. this morning we're learning more about those two passengers that had boarded the flight with stolen passports. authorities say one of them was an iranian teenager, apparently trying to migrate to germany, with no known terrorist links. the other man has been identified by interpol as a 29-year-old with an iranian passport. information is still becoming available on that front. the inspector general says they're looking at several scenarios for what happened on boa board. >> we are looking into four areas. one is hijacking. two, sabotage. three, psychological pr

congressman adam smith, thank you for your efforts on capitol hill and thank you for your time today.k you. >>> coming up, since 2008, congress has voted to extend or expand unemployment assistance 12 times. can they make it a baker's doesen? it's up to john boehner. that's straight ahead. when folks in the lower 48 think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. thousands of people here in alaska are working to safely produce more energy. but that's just the start. to produce more from existing wells, we need advanced technology. that means hi-tech jobs in california and colorado. the oil moves through one of the world's largest pipelines. maintaining it means manufacturing jobs in the midwest. then we transport it with 4 state-of-the-art, double-hull tankers. some of the safest, most advanced ships in the world: built in san diego with a $1 billion investment. across the united states, bp supports more than a quarter million jobs. and no energy company invests more in the u

all right chris well in the title the book you make a reference to wealth of nations ok adam smith's seven hundred seventy six classical liberalism economics do we currently have a system in adam smith to recognize in some respects yes you want to keep the great wheel moving you know what freight will will that was adam smith's descriptive fin other words it's a great wheel of commerce and finance and the reason that the fed the other central banks printed all this money over the last few years to didn't want to wheel to stop that stuff it's really the simple way he warned against people colluding you know in a way moral sentiments that's right and you have groups like the davus or build a bird or these other big con maps these obviously opportunities for these guys to collude as well it is so adam smith was the means by which we democratize credit we opened the game up we took money away from the king so let's talk about another piece of the puzzle here because during the banking crisis there is this idea that whack a mole where a lot of the bad debts would end up back in the fed's

china is engaged in the proverbial handoff on state control to what adam smith would call the invisibleand of the market. that is a good thing. the fundamental is that there is a set of reforms underway which should be good for certain industries. financials and energy should benefit. now might not be a bad time to look at it given the uncertainty around the region. into thatuld you buy country? do you buy also possible companies that are based in europe but with a lot of exposure to china? >> you can certainly do that. that has been historically a nice way to invest in china. i would break it down into two categories. one would be on the currency side. people ask a lot of questions on it recently. the other would be the equity side. on the currency side, the won has come under pressure. it is moving towards a free-floating dynamic. that should allow for appreciation of the currency. china runs a current account surplus. if you look at the demographics in china, china needs a stronger currency. foreeds more wealth supporting elderly parents. on the equities side, take a step back and as

it is like adam smith with everybody works selfishly for their own benefit. in the baby boom we don't work, but we ray selfish for our own -- we are selfish for our own benefit. we are such a much nicer generation than the greatest generation. we just want to give the world a hug and a drug. we don't want world war ii and we don't want world war 3. >> i think you invented stress. remember we -- we call things stress now that used to be life, right? >> not really. our parents were interesting about this. they did worry. not in the way we do. they smoked while pregnant and had a couple of extra for the drive home and turned us loose in the backyard with lawn darts, but in a crime free neighborhood they are locking every door. they had specific worries. they didn't have the luxury of free range worry the way we do. we are anxious about everything. but we also invented drugs. it is all okay. >> it is true though. i am married to a russian and it is like being married to somebody from the previous generation. she looks at me like an alien being. >> peanut allergie

congressman adam smith, a democrat from washington state, thank you for being with us. host: we will take you live to the floor of the house. c-spanverage is on onc-span two. the speaker pro tempore: the house will be in order. the chair lays before the house a communication from the speaker. the clerk: the speaker's room, washington, d.c., march 27, 2014. i hereby appoint the honorable rob woodall to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: the prayer will be offered by our chaplain, father conroy. chaplain conroy: let us pray. eternal god to whom we see what we could be and what we can become, thank you for being -- giving us another day. send your spirit upon the members of this people's house to encourage them in their official tasks. be with them and with all who labor here to serve this great nation and its people. assure them that whatever their responsibilities, you provide the grace to enable them to be faithful in their duties and the wisdom to be conscious of their oblig

. >> adam smith, he is he an economist back in the 1800s, he -- >> what was it again. >> lay. >> it's hot summer. >> do you know what the debt is right now? >> no. inform me, please. >> it's like 17 gazillion. >> hey, look at that. >> 16 trillion. >> oh, [bleep] >> grade the president on overall presidential leadership? >> he is such a woos when it comes to the republicans pushing him around in congress. >> i killed usama bin laden. a plus. >> we will go with the b. he ain't the best but he definitely is not the worse. >> what? >> shake that ♪ ♪ >> what's your major? >> fashion merchandising. >> how is my collar. >> it's good. >> it's awful. >> what do you mean? >> put it down. it's not cool. >> i thought i was hip. >> no. you are not hip at all. >> girls, you are looking at a man with a tremendous problem. >> do you ever watch bill o'reilly. >> no. >> you have heard of bill o'reilly. >> you have heard of bill cosby? >> that's a genius at work. >> my dad is going to watch this and be so embarrassed. >> i'm too young to -- >> how did i get chosen for this interview? >> i got the funnie

also congressman adam smith, the lead democrat on the house armed services committee, will discuss national defense policy. "washington journal" begins live at 7:00 a.m. eastern on -span. the house is out for the evening. but earlier today members passed a bill that would change the process for the president to create national monuments. tomorrow work's expected on two bills. one on medicare payments to doctors and another relating to aid for ukraine and sanctions against russia. the house returns live thursday at 9:00 a.m. eastern here on -span. >> we are on the brink of enacting an independence bill for the disabled of america. they will henceforth i think look to this day and the day when the president of the united states signs this bill as the independence day for those who have been disabled. but who have a willingness, a desire and who are qualified and have an ability to productively participate in america, in the promise of america and in the pursuit of happiness. mr. speaker, there were some concerns raised about this bill . there are those who will present a motion to recommit th

. >> adam smith, he is he an economist back in the 1800s, he -- >> what was it again. >> lay. >> it's>> do you know what the debt is right now? >> no. inform me, please. >> it's like 17 gazillion. >> hey, look at that. >> 16 trillion. >> oh, [bleep] >> grade the president on overall presidential leadership? >> he is such a woos when it comes to the republicans pushing him around in congress. >> i killed usama bin laden. a plus. >> we will go with the b. he ain't the best but he definitely is not the worse. >> what? >> shake that ♪ ♪ >> what's your major? >> fashion merchandising. >> how is my collar. >> it's good. >> it's awful. >> what do you mean? >> put it down. it's not cool. >> i thought i was hip. >> no. you are not hip at all. >> girls, you are looking at a man with a tremendous problem. >> do you ever watch bill o'reilly. >> no. >> you have heard of bill o'reilly. >> you have heard of bill cosby? >> that's a genius at work. >> my dad is going to watch this and be so embarrassed. >> i'm too young to -- >> how did i get chosen for this interview? >> i got the funniest feeling so

this is the quote i begin with from adam smith, father of free market economics from 1776. one of the duties of the sovereign is to maintain public institutions and public works without which the wonders of the free market would not be possible. and what i look at is initially a couple of case studies beyond health care and some thought experiments. what would these industries look like if the government had not intervened? what would the computer industry look like if we didn't have an internet which you can say what you want about al gore, but the government did, in fact, create the internet. we had personal computers before the internet, before the internet was commercialized. 1984 was when apple introduced the first mac into be computer, but the -- mackintosh computer, but the industry would look nothing like it does today were it not for the internet. the interstate highways did the same thing for automobiles, particularly trucks and buses. the satellites that the government launched made tv way we know it today, particularly cable tv. and mortgage support, fannie mae

joining me is adam smith and "washington post" columnist and senior fellow of government studies at theings institute, a.j. dion. >> you're our guy on the ground. you wrote, i believe yesterday, or maybe it was today, sink and jolly both tried to argue repeatedly that the race had more to do with local politics than it did national. nonsense. if that is the case, what was the effect of that and that rhetoric and that dialogue on the voters in florida's 13th district? >> well, first of all, sink and jolly really didn't control the campaign. there was so much outside spending, $9 million from outside groups. those were the ones overwhelmingly on tv, and their messages were overwhelmingly negative, and on the republican side, it was overwhelmingly she's a cheerleader for obamacare, she's a cheerleader for obama, a liberal. and on the republican side, it was you can't trust her with entitlements, you know, about obamacare, clearly, this was a national election, no doubt. >> let me ask you, though, do you feel that depressed turnout, people were less enthusiastic about the race? if you look

who said that best but that "thetarian, adam smith, in wealth of nations."uty ofthe first two the sovereign is protecting the society from invasion of other independent societies. reagan called a strong defense budget the vital margin of safety. we are losing the vital margin of safety all around the world. we are not going to get peace through strength. we are not devoting the budget to it. we are not going to peace through weakness either. we will get what we see today in the ukraine. vladimir putin has a strategy and obama has nothing. to has a growing defense budget and ours is striking -- shrinking. look at the middle east. russia's puppet, assad, is still in power. there are threats to our best ally in the region, israel. iran is working with russia and running rings around obama, clinton, and carry. -- kerry. islatin america, russia reestablishing influence in cuba and venezuela, threatening our own hemisphere. it is not just a russia that is the problem. in china, there a major military buildup. they're building their first blue water naval capabilit

host: congressman adam smith is the ranking member on the house armed services committee. thanks for being with us again. guest: thank for having a. host: let me ask you about the situation in ukraine and the concern by nato officials that russian forces might move further into that country. do you share that same fear? guest: i think we have to be concerned the way russia is a massing troops along the border. they have been a troops on the border with estonia which is of greater concern since estonia is a nato member. this is a very troubling situation. russia has violated international law and violated treaties they have signed. i think it is incumbent upon the rest of the world to condemn that and bring economic sanctions down on russia to make it clear that this is not acceptable behavior and we will do our best to hold them accountable. host: this is a quotation from the nato general -- is, it's difficult because -- do we want to start world war three over crimea or ukraine? we hopey not but what is that russia will come to its senses and not want to push this. even a

adam smith my colleague at the tampa bay times has said that toss a coin kind and whichever side comes up, do not be surprised. he says there is momentum toward jolly, but when you aggregate the polls out, there is a edge towards sink,. . if the republicans get to the double-digit lead in registration turnout on election day, they're probably going to win. if the democrats hold the below seven percentage was cover the democrats will probably win. what is the difference between seven percent and 10% of republican turnout? we will see tonight. host: you mentioned the outside groups that are involved in this race, here is a pie chart from the center for public integrity here in cdc talking about campaign spending. only a third of the campaign spending was controlled by the two candidates themselves. the other money coming in from the outside groups. is there anything to read into this outside spending leading into the 2014 election in florida? guest: a lot of groups have a lot of money to burn very for all of the money that has been spent against obamacare, you wonder how much of that has

going the market economy was basically created in the sort of sixteenth century handicraft premise adam smith for example never would have fathom that we would have the largest industry in the world today being the financial sector and people trading and gambling and having the gambling casino economy that we have today with equities and futures and currencies. this is a carcinogenic adaptation of the underlying premise of seeking the widget gain as it were from economics one hundred one so it's completely outdated in other words and it's not going to handle the problems we have today with. a billion people starving three billion in poverty the huge water stress that is rising the energy crisis in demand we will have another billion people on this planet another fifteen years these stressors will not be resolved by a system that actually wants inefficiency to keep it going right now can you explain to our viewers what this guy's movement is. because i guess movement is a global sustainability advocacy organization and in short we get to the root of what is underlying most of the social proble

a check on the market and a look at one maker, smith & wesson. adampiro at the floor of the new york stock exchange. first the market, what are you looking at as we go to the bell? >> look at the s&p 500. it has not been able to break above the intraday high. it just can't do that. it has crossed over the unchanged line. roughly 40 times today. trying to find some direction. just waiting for the final jobs numbers on friday. smith & wesson up 17%, up 15%. americans loving their handguns, smith & wesson doing just fine. dow jones industrial average down 36 points, barely half a percent. cheryl: we are pushing session lows. we will see you in just a little bit. talk about cutting through the haze, looking for opportunities in new smoking products. washington, d.c., council has just voted to decriminalize marijuana. users will no longer face jail time for possession the drug, instead slapped with a $25 fine similar to a parking ticket. it appears many local governments are going in a very different direction when it comes to e-cigarettes. yesterday los a

adam: thanks for giving us perspective on the ipos. cheryl: sandra smith is watching google, announcing a new partnership with where rebel tech google glass. sandra: with this eyeglass maker, this is a stylish company google is opening, and sunglasses, and google's internet connected glasses a little more cool and stylish than you and i go. it is based out of italy, but designed to develop the connected glassware which so far is only available as an expensive prototype in the u.s. google glass is of interest to a lot of people, it would record a video, e-mail, search the web and stylish glasses to potential millions of customers. google had jumped earlier and came off as a lot of shareholders are analyzing what the deal means, a 4% on word of this deal. wall street analysts are big fan of this move with one saying, quote, the challenge of convincing consumers to wear consumers on their face is a fashion problem. a technology problem. we see things play out with the stock but the special glasses can be bought by u.s. presidents, according to google's web si

smith, a tough combination. they know how to win. i have got the cardinals. ♪ >> this is "lunch money" and i am adam johnson. of thrones" held a premier event for its fourth season. tom keene was right there on the red carpet talking with the stars. >> we are here at the premiere. the richest guy, the more money than the gods. >> rose is wicked and a nice man. >> what is the skill set, the best practice you have, that you have brought? a workout? >> i am very lucky. >> it is amazing and feels like we are making a 10 hour movie every year. the way we shoot it and the scale of it all. it will one day be over and i will kick myself really hard. >> what is your advice? people are watching worldwide. they have kids who want to do acting and screenwriting. what is your advice on doing it right? >> go with your gut instinct 100%. if you have an instinctual reaction, go with it here chances are, it is right. >> in the beginning, i have never acted before and it was this huge and surreal experience where you just went up in a plane and you went to a cool location and hung out with actors. it just got cooler and coole

our own sandra smith has the highlights and low lights from across the country. sandra: that's right, adamtopping the list, washington, d.c. that's right. it share the top spots with san jose. each spot averaging plus four on the economic confidence index over the last two years. san francisco hold the number three spot. while silicon valley, d.c. and san fran are feeling good, the rest of the country is worried, very worried. jacksonville, florida, had the lowest confidence reading with a negative 25. pittsburgh and oklahoma city also at the bottom of the list. even energy rich texas is concerned. texas governor rick perry joined maria bartiromo on "the opening bell" this morning talking economy in his state. maria: it seems job creation has not been a priority here. if there was one policy decision that can be made on the federal government's level, what would it be? >> open up the xl pipeline. that is a quickest in the president can do to put people to work and impact the economy. sandra: two cities in his state, austin and dallas, each had negative readings in this gallup poll. welwhil

cheryl: matt smith and phil flynn, i just got a new nickname, thank you very much. appreciate it. adammadison avenue at the intersection of silicon valley and wall street. advertising is all about the numbers. cheryl: no one knows that better than our next guest, an exclusive interview with the man credited with creating the media agency, 28% of the world's mobile that expenditures. groupon ceo irwin gottlieb. in the new new york, we don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com cheryl: the advertising industry is becoming a lot less like "mad men" and a lot more like wall street. the man at the forefront of this change, irwin gottlieb, known as the king of ads. he is credited with the creating infrastructure how advert

adam: general motors changing its story, the company first learned about ignition problem causing more than 1 million vehicles to be recalled. sandra smiths joining us with more details. >> they knew of the faulty ignition switches dating back to 2001, three years earlier, to determine the full scope of the problem. it is evolving on a daily basis. when they first started getting reports of engine stalling that is when they first noticed the problem. in 2003 general motors dealer technicians eggs or a stalling and and it was 2004 the first year that gm previously said it first learned of the engine moving power due to this ignition problem. now we know it was 2001 and in 2007 gm received more reports of engine problems including at least one involving a fatal accident. three years later kobold productions was halted and in 2012 gm determined the ignition switch was related to 31 crashes and 12 deaths which brings us to the recall of this year, 1.6 million cars have now been recalled and develop along those lines general motors is now also saying even after the vehicle in its editions which recall are prepared owners should avoid wading d

adam: he has been one of the president's best friends in tech but mark zuckerberg is calling president obama over the nsa spying scandal. sandra smithe latest. >> he literally picked up the phone and called the president. facebook founder, mark zuckerberg lashing out at the government for its surveillance practices on his facebook page. they need to be more transparent about what they're doing or otherwise people will believe the worst. zuckerberg as we said also vented his concern on a phone call to the president and this frustration comes by the way in stark contrast to back in before ven when facebook and zuckerberg hosted the president for town hall meeting. zuckerberg and obama were chumming it up and laughing taking their jackets off and taking questions from the audience. zuckerberg concluded facebook post, call to action for interusers. it is up to them to build the internet we want. we watch facebook shares, down a percent today. still a heck of a ride at about facebook stock that started out year as 55 bucks a share. to about $67 today. adam, cheryl, this sentiment from suck suck we have one heard voiced from large technol

smith relaxes before his run while watching two tear up the track. >> couldn't ask for nicer weather. mid-70s, clear day, perfect day for racing. tommy adamsof the yellow car, the '69 camaro, and david hugo was the driver of the lumina in the right lane. >> the drivers get the green light and the race starts as it is supposed to. >> when the cars took off down the track, everything looked so smooth. both cars lobbed side to side, no unnecessary fishtailing and no stupid moves at all at that point in time. everything looked like it was going as normal for a drag race. >> gayland has been a friend and a competitor of both drivers for years having raced against them several times. he has great respect for their skills. >> tommy haas been racing since '69. he was a true racer. if the tracks were opened and there was something going on, he was there. david hugo was a smooth driver. they had a team that would do anything for you. as far as i know, tommy adams nor david hugo has ever, ever had an accident up until that day. >> both drivers' flawless track records are about to take a major hit with a heart stopping collision all caught on camera.

adam: i would buy a car from you. cheryl: the impact on new jersey, a research analyst coming up later in the show. these markets, the chinese economy is weighing on the major average. sandra smith joins us in studio with more. sandra: amazing how key what is happening in china is for u.s. equity markets. concerns in china weighing on the asian markets and overnight trading at ripple affect on european markets as well. china central bank preparing to cut the percentage of cash that banks have to keep on hand if the country's economic growth falls below their threshold of 7.5% set by the government, a move that would cause of flood of cash to be let into the system in the form of stimulus because the economy would be slowing down so much they stand ready to do this and that would be a good thing economically at least in the short term for china, that was seen as oh my god is falling down so much they are talking about doing this which is why we're seeing investors across the globe, tokyo markets, hang seng and hong kong, tokyo, look at this sell-off in their trading session, 2 bling 6% drop, the hang seng, over in china at drop of 2%. australian market's down and the ripple effec

celebrate the 100th anniversary of the smith leaver act, i want to give congratulations and recognition to the outstanding penn state extension team which is led by adam dean, chris and thank them for their important work to improve the lives and economic outcomes of countless families and businesses across the country. and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. . the speaker pro tempore: for what purpose does the gentlelady from california seek recognition? the gentlelady is recognized. ms. hahn: thank you, madam speaker. this month we join together as a nation to celebrate women's history month. we pay tribute to the generation of women whose current, perseverance, and leadership have helped build our great nation. from everyday working mothers to women like civil rights icon rosa parks, and labor activist, doloresa werta. our journey would not be possible without these great women and so many others who proudly took the seat at the table an front of the bus to chart the way for our nation's progress. but while progress has been made in gender equality, we still have a lot mor