david: cyber security is a blackhole. it is a blackhole to me and to everybody that does not have all of these security clearances. i recently did an interview with director, who has written a book. is way the cyber world over classified. until they start declassifying some of that stuff, people are not going to believe these warnings about a cyber 9/11. they are not going to know what the u.s. could do to defended this country against a cyber attack, and what the u.s. could do to retaliate. the truth is that the u.s. has been stockpiling weapons. --iously there no doubt if you look at technology, and the quality of the military, and you warfare,he weapons of the u.s. is far ahead of everybody? the u.s. is far ahead. we are number one. the really is no number two right now. but china really is on the rise. programcular, the space and their long-range ballistic missiles. which is this navy based on aircraft carriers. forward projection. if the chinese can pick off the aircraft carriers, that is a problem. programest new wa

blackhole. charlie: how long have we known about it?stein -- he could have predicted their existence with his own equations, but he didn't, interestingly enough. charlie: he was interested in them? neil: no. i asked stephen hawking over dinner, went in at isaac newton make certain discoveries with his own mathematics that he invented? his response was, einstein did not come up with black holes. you cannot think up everything. [laughter] charlie: what else did you talk about at dinner? neil: the conversation was slow, of course. charlie: i have talked to him as well. you have to submit questions. neil: this was just banter. the conversation is going. you might even send something his way, but then you keep your own conversation with others. later on, that answer comes out. you rejoin the conversation. charlie: what dazzles you about him? the triumph of his life? the quality of his mind? neil: all of the above. i'm glad the public on a glimpse in "the theory of everything." i got to see a prescreening of it. it was clear to me if there wa

scarlet: it's like a blackhole right now and they're making it up as they go along in terms of theirponse. erik: that is the bare case. the bull case would be that the chinese government can figure out a coordinated program of monetary and fiscal stimulus and reflate the chinese economy or at least reflate growth the way the fed was able to do here and int the ecb is trying to do europe. here's another thing i want to show everybody. jeff gun lock on the conference call the other day was talking about in his mind the probability or the likelihood that stocks would catch up to junk-bond prices. we can illustrate that great here are three lines -- that. here are three lines. you will see in just a moment, the red line is stocks. the yellow line is high-yield. this is the cdx, high-yield credit default swap index, and then the blue line of course is brent. if you look at high-yield and you look at brent, you see over the course of the past year they have track each other pretty well and for much of that year, stocks tracked brent and high-yield. in august we had a big selloff in stocks,