they have seen some of the greatest members of history recently favor altman be defeated. so what makes us assume we are so different? they are fiercely independent, as though had we understood the mechanics we could handle it very differently to strengthen our own footprint education, health schemes local government i was that a former christian college members of parliament and everyone was so grateful to the americans so wire lee wasting millions and millions of dollars which in the end ends with iran haiti does? >> host: you write in "the thistle and the drone" of the survey of american and afghan soldiers this is how they view the americans americans, they always shout and yell and they are crazy and u.s. soldiers swear at us constantly it saying a few they do not care about civilian casualties, they p all over right in front of civilians including females. >>. >> guest: this is what the americans thought of the afghan forces there turds we're better off without them i don't trust the locals they could be sleepers of whatever like to it meant iraqis are smarter but th

blair ephron, roger altman. and honeywell chief david cody y. these guys?ll three have been sitting in on regular conference calls with the white house. they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top stories. steve? >> thank you, michelle. disney posting better than expected earnings and revenues after the bell. the company says it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks. ceo bob iegory was on cnbc's "closing bell." >> you had a lot of ins and outs. basically, the trendser good. we had strong results at our domestic parks. the bookings have been pretty so

altman who is our founder here at hover. i'm going to just ask a.j.o cross the street without getting killed and take my picture in front of the building here. on three, wave. so we just took that picture

evercore's founding partner, roger altman. >>> in the headlines this morning, royalty pharma is makingn $11 a share bid to acquire elon. it hasn't received a formal response, but acknowledges it has been unsuccessful so far in its efforts to engage with the drugmaker since making that offer. shares rising this morning. take a look. also today, voluntarily recalls all lots of anemia treatment in the u.s. by royalty pharma. the drug is used to treat anemia. shares of affy defendant's exhibit madz down sharply in early trading this morning. >>> and hewlett packard announcing it's making a tablet that uses google's operating system. the hp7 will be in a similar size to the amazon fire. hp had a failed attempt back in 2011 with a device based on palm's web os software when it bought that for a nice sum -- actually, it paid way too much. there it is. joe. >> i don't know what amantis is. but anemia is dialysis patients, i don't know how this competes, but i want to mention lowe's, which is reporting results this morning. lowe's reported 26 cents a share at 3 cents above estimates. same-store

let me begin with roger altman in boston. we're taking this before the state of the union address but the economy's not going to change that much between now and then. and i assume you have an idea of what the president is going to say. was it important for the president to say? >> well, i have not seen the speech charlie, but i would like to see a pathway to agreement on the tax and spending issues which have preoccupied washington now for the ug long es period in the past three months and facing us with the sequester of the continuing resolution and so forth. do i expect to see that pathway in other words in the real world? i don't. i think the presidencies himself as riding high. he won the election decisively. he got a deal on his terms as the whitehouse sees it on the fiscal cliff. he got the republicans to retreat on the debt limit. i don't think the republicans are going to play with government shut down either and so the presidencies himself riding high it seems to me and he sees the republicans in a disorganized and

oil which sustains the western way of life but saudi arabia i am convinced will be critical in the altman resolution of what is the proper issam between the radical jihad best and the more modernizing thought san that battle goes on in saudi arabia. to try to understand this society it is like somebody coming here to right to a book about america you could not go to washington or new york and claimed to understand america. i knew i had to get out of riyadh and that was permitted i went all over the country by saw all kinds of people the royal family but very poor people, and then, women, old people and it was in advantage to be a woman because you could talk to both a western woman in saudi arabia is basically an honorary man. men are prepared to talk to you even the senior religious officials who believe it is wrong to be in the presence of a woman who was not your relative. in the beginning i had a one month, one entry visa and i got a three month e. said then i was given a five-year multiple injury be said then i came and went as they chose i did not have to deal with the government. i

i think altman is correct.oposed and what we're going to propose again this week is to make cuts, to have revenues, to make cuts, balanced package, about $100 billion over ten years, do it in a way that will not harm the economy but will get to the fiscal discipline that we need. >> do you think the other question, this big picture question, if you were a surgeon, you could find $85 billion in the discretionary side that is duplicative or waste or whatever. you're not saying that we couldn't find a way to do that, are you? >> i think that's correct, joe. the problem is, that the republicans in the house of representatives, we can't put a bill on the floor. they can do that. they can put forward a bill that says here are how we're going to cut the $85 billion. they haven't done that. we've been in session now for two months and the republicans have not put a single bill on the house floor which they have sole responsibility for doing, which have accomplished the objective, and replaced the sequester. everybody a

she was in the robert altman film. in a film i directed where she played the matron of a crack den. >> jimmy: really? >> she had one line. she won't stop saying it. >> you owe me money, bob. [ applause ] >> jimmy: nicely done. i hope you're in the movie. it's going to be very disappointing if he's not in the movie. >> and she takes credit for my entire career. >> jimmy: sure, why not? by the way, she must be very proud of your art. you had a big art show in berlin last weekend. >> i did. >> jimmy: it was all your art. >> yeah. >> jimmy: it's called gay town. why is it called gay town? were you in gay town? no, you weren't in gay town. >> the show was paintings. it had blankets. it had videos. that's a painting of the water polo team from my high school. >> jimmy: is this you on the water polo team? >> no, i one on theater polo team. i wanted to be, but i never -- >> jimmy: that's your actual water polo team, huh? now this one -- >> that's a painting that -- of a hunk calendar that we did senior year and i was in the hu

"outfront," daniel altman, economics professor at nyu, it political columnist for "newsweek" and "the beast." you listened to all this talk about all these dire implications, is it real or is it scare tactics? >> some of it is definitely real. if you look at the figures we're looking at maybe 70,000 kids getting kicked out of head start programs. we're looking at a $1.6 billion cut in funding for the national institutes of health which does research into life-saving medical procedures and drugs. it's going to be $1.1 trillion in cuts over a decade, we're looking at maybe 4% of the federal budget overall. that's serious. when you think about the unemployment rate, 7.9%, 92% of people are employed, cut out 4% of the federal budget, that's going to have a big effect on the economy. >> the transportation secretary ray lahood spoke at the white house briefing today. all of you listen to this. >> there has to be some impact in order to save $1 billion. $1 billion is a lot of money. >> let's be clear, it's less than 2% of your budget -- >> it's a lot of money, jonathan. where i come from, wh

joining me now, editor of money news altman wealth report. welcome back to the show. make the comparison for individual investors. you want of money market fund? what do you do with your money? >> were also you going to put your money? previous market tops that interest rates were not as low as they are right now. we are at historic lows, so you're not going to make any money competing with inflation and the rise. gerri: but the stock market. what is good about stocks right now? >> what is good about stocks right now is you have yields of two, three, 4% on a lot of major household names out there in stocks. but also the valuations are still fairly reasonable. setting to get a little more toward overvaluation, but we are not there yet. a little above average, historical price-earnings ratios, and dividends are still there right now as well. gerri: i look at how this is getting covered, this rise to the . the stock charts are something else, are they? beautiful pictures. my point is this, and i want you to hear this. people who are individual investors in the market

josh altman is her agent. the home covers 8,500 square feet, but that's a lie. i know this. six square feet. only waist high and it's missing some walls. >> how will he fit in there then, jane? all right, jane, thank you. >> bye. >> okay. what? >> love jane wells. >> did you play with barbie dolls? >> no. actually, i did. i had a ballerina barbie and i ripped the crown off and created a hole on her held and i didn't play with her anymore. >> lobotomy barbie. >> anyway. you tweeted them, so we're trading them. up next, we hit the twitt twittersphere to answer your tweets, next. timizers. how? by building custom security solutions that integrate video, access control, fire and intrusion protection. all backed up with world-class monitoring centers, thousands of qualified technicians, and a personal passion to help protect your business. when your business is optimized like that, there's no stopping you. we are tyco integrated security. and we are sharper. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. i

danielle altman is an economics professor at ncu. daniel, one thing to acknowledge here, finding $85 billion should be no problem. $85 billion is a really small chunk of the change we actually need to find. so even if you cut from the right places, if you cut the right amount, it would hurt people, and i think we have to be honest about that, but the cuts we're talking about right now impact a lot of people, but brutal and dangerous for the economy? >> well, the thing is this. that it's $85 billion until the end of this year, but then we have these cuts maintained, and enlarged in some cases, going forward over the next seven years. so we've got almost $1 trillion in cuts. so if the sequester goes forward -- >> but over that ten-year period, you have to multiply that times ten too. >> but expectations of future spending and economic activity and consumption. and that's why they could have an effect, and why the markets are probably a little bit worried about them. but, still -- >> but brutal, dangerous? >> i think they will be for so

a little old notice, a treaty of amnesty and asean that opened the door to permanent restoration altman elevated a forum for engaging on high-stakes issues like the south china sea. we have encouraged india to look east policy as a way to weave another big democracy into the fabric of the asia-pacific. we have used trade negotiations over the transpacific partnership to find common ground with his former adversary in vietnam and the list goes on. our effort has encompassed all the levers of power and more that i have discussed. you can ask yourself, how can we approach an issue as thorny and dangerous as territorial south china sea without a deep understanding of energy politics, subtle multilateral diplomacy, hard economic statecraft and a firm adherence to universal norms. think about burma. a blend of economic diplomatic and political tools. the country's leaders wanted the benefits of rejoining the global economy. they wanted to more fully participate in the region's multilateral institutions and to no longer be an international pariah. so we needed to engage with them on many front

blair ephron, evercore partner roger altman, avenue capital ceo marc hasry and honeywell chairman andcontributions and the future of america. a one-hour special presentation at 7:00 eastern and it's only, only i tell you on "squawk box." >>> the dow pulling back from the mile stone 14,000 level. can bulls shake off european fears and get the rally back on track? >> times of market uncertainty we turn to our squawk market masters. ron baron and find out where they're putting billions of dollars to work. >> it's tuesday, february 5th. the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" everyone. we're here on cnbc, first in business worldwide i'm becky quick along with andrew ross sorkin and steve liesman. we've been watching u.s. futures as the equity futures at this hour and you're going to see after the big pullback yesterday you are starting to see some big gains today. dow futures up by 90 points. s&p up by over 9 points. of course this is all coming after yesterday's pullbacks where stocks had their worst day of the year. earlier today we spoke to jim

roger altman is the one that has to find the alternative deal. if he can find the alternative deal, he'll do well. >> and his pay scale is structured in such a way that he gets paid a lot more money if he finds an alternative deal. >> he's a capitalist, right? >> he is a capitalist. >> he was here last week. he said it last week and you weren't here. it was me, myself and i. there were three democrats on the set last week. the fourth one called in sick. >> the broad definition. >> brod broad, yeah. let's get a quick check on the markets. skol scott joins us now from the cme. good morning. good to see you, scott. what do you think here as we head into the week compared to last week? >> well, i guess you have to close your eyes and say full steam ahead. ultimately, we haven't had a blow up in asia. i'm not quite sure what these numbers are going to show us this week in asia. we have big numbers on the docket. it hasn't fallen apart like everybody want thad to. here we sit in the u.s. with everybody is buying hand over fist. i've been doing it a lon

roger altman on "squawk" this morning, i mean, everybody knows that it has to be dealt with at some point. the real question is, when, if it's ever going to happen. >> the president has a plan on the table, which is to cut some very important medicare, raise some rates for the various parks, including park -- you know, the drug giveaway. my dad's a veteran, okay? if you go to the va, you get the drugs much cheaper than -- the government pays full boat in medicare. the government wants to change that. he also wants to do a change in the inflation formula for social security. these are not idle. people want to know the president wants to tax, tax, tax. we could also do this carry interest. when i was a hedge fund manager, i was not able to convert ordinary income into capital gains. that's the new way to do it. ronald reagan felt that was one of the worst things you could ever do is be able to convert ordinary income into capital gains. if you believed in reagan, of which i did, you would change it. >> it should be changed. i firmly believe, some of my friends in private equity disagree. >>

and we want to thank the foundation, drew altman and diane roland and their colleagues and the folksone last plea for you to listen to this gentleman's question. [laughter] >> yes, i've heard recently that among developed nations the u.s. has fallen to the bottom as far as longevity is concerned. yet we're paying a lot more than other people. wouldn't it save substantial medicare costs if we veered away from the pill for every ill, that mindset that we've kind of adopted in this country and embrace, look at other measures such as prevention, alternatives and educating people on things like genetically-modified foods and the long-term dangers they can present? >> i don't know who wants to take this. this is, i mean, questions often come up about improving coverage of prevention sort of over the course of a lifetime and in medicare. um, and there's been a lot of in that, and there have been a lot of improvements lately. one of the sort of unfortunate realities of living in this town and working with the congressional budge office as a score -- budget office as a scorekeeper is sometime