. >> ben bernankey e-y talked about inflation in japan 10 years ago. talked about inflation at the i.m.f. five or six years ago. why is ben gross talking about it now? why can't we reflate? why is it so hard? >> in japan it's been difficult. we know the demographic situation is much more severe than anywhere in the world aside from taiwan. we don't have the same aging problem which leads to less and less demand going forward and so japan is not a typical petree dish, but i think what is necessary in the united states is fiscal spending. to be fair, the fed has talked about fiscal spending until their blue in the face, not only bernanke, but yellen as well. i think we need to spend money. what we spend it on is the question. how we elect our president going forward is the question, but infrastructure, health care and to my way of thinking, u.s. spending on a universall basic income which is probably five to 10 years in the future. in order to support an increasing jobless element in the u.s. society. >> what have you learned about the use and the effica