tell us about well it's a bubble that's very similar to i guess all the other bubbles in history of the developed nation you have an excessive amount of debt chasing funding as i said that either heads inflated value and offer tissues where you the dead is the student loan. system credit system in the u.s. particularly and the assets of the deployments that the loans of funding. the diplomas have both in my opinion and from and of medical perspective even inflated a fictitious value and the debt is excessive it's very easy to attain and it's massive it's approaching that of the subprime bubble at its peak which was a roughly about one point three trillion dollars the student loan. debt market is piercing the tree and mark and increasing by roughly you know hundred billion dollars or so per. two thirds of a quarter every other month i think at this rate so really looking somewhere above maybe it would be past the subprime. bubble level in terms of aggregate amount what makes it interesting is this is a different type of debt because the state is not dischargeable. so it's and it's ba

gerri: a housing bubble bursts, even the green energy bubble. is a bond bubble next?will break down in 60 seconds gerri: do you remember the.com bubble? the nasdaq lost nearly 80% in the two-year market selloff that ended in 2002. as investors decided maybe earnings do matter. then there was the housing market crash. now, some believe that we are on the cusp of a bond bubble. investors began to turn to bonds. it was assumed to be a safe haven and many believe that too many of us have put their savings there and the consequences could be dire if rates were to spike unexpectedly. don't get me wrong, yields move higher last week, but not to the stratospheric levels. they rose to just over 2% before falling below that level. many were considering, what would happen? what would happen if the federal reserve took away the punch bowl and allowed rates twice today. "the wall street journal" says that bond prices are more than usual because rates are so low. prices are even more sensitive. it makes the price more volatile and here is the matter that according to "the wall stre

it's the bubble wrap monster. you can make a bubble wrap monster.l these great things you can do with bubble wrap. you can also use it as cushioning. you can pop it, of course. you can wrap your favorite male anchor and co-anchor in some bubble wrap. >> oh, yes. >> among journalists, a bubble wrap is a story of little substance or consequence. and there are all these things that you can do, rob, with bubble wrap. you can paint it. you can wrap it. you can make bubble chocolate. >> 21 years and you wonder why i don't have any emmys. >> we've got to call the emmy committee. it also works as really good plant material. >> this is a poor wrap job. >> you can make a bubble wrap road. you can make a bubble trap. it can also be a sumo bubble. you can use it as a costume. you can burst them. you can burst them, rob. >> this is wonderful. this is really -- this is just like we planned it. >> and you can also play bubble wrap volleyball. it's endless. it's endless what you can do with bubble wrap. >> what do you think? >> now they got the duct tape out. >> it

as the bubble burst?id-2009 is your price certainly they deserve a lot of the blame, but there was a lot of belief in silicon valley. [talking over each other] gerri: they wanted to do right, is that correct? >> certainly there was some of that, but let me bring up one part of the second is particularly aggravating and chaps my hide. what happens if the fiscal cliff bill. it is more the biofuel scam. it's been going on for years. they havbeen giving a a lot of this to the cellulosic ethanol industry. they have never produced any quantity of fuel, was mandated by congress, and they slap down the epa. epa has been mandated that refiners use over $8 million of cellulosic ethanol, even though last year they produced 20,000 gallons. >> it doesn't work. >> sorry, thank you, gerri the one you are fantastic and come back anytime. gerri: the average price of a gallon of gas is up 2 cents over the past two weeks. $3.35 as the average. that is also up 6 cents in just one month. los angeles has the highest at $3.71.

2000, 2002, bubble, crash. 2007, bubble, crash. we're getting a bubble and crash about every four or five years, so this is what we have when you go over a demographic cliff. remember japan? think back to japan. japan went over the demographic cliff, peak and baby boom spending, peak real estate boo. they had a bust. guess what? 22 years later real estate is still down over 60%, still drifting down. stocks are down nearly 80%. not that far off their low. they keep bubbling up and going down to new lows so this is the new normal given that baby boomers are aging and the next generation is not only not in the workforce yet largely but they are not as large when they do, so we're never going to see real estate prices at these levels again and won't see stocks at the level we saw for a long time so to me this is not unusual at all. >> you're looking at the demographic changes, and certainly that is a big sort of, you know, determinant, but what about the determinant that there's all this money in the markets, very few alternatives to u

tell me what those bubbles are. >> well, the bubbles are the government that bubble and the dollar bubbleassive increase in borrowing that we have seen in the last few years. over a trillion per year, and the dollar bubble, which is a massive increase in money printing. those are certainly helping pump up the economy, but they will pop. gerri: and what happens when they do? >> welcome all of the others come down. if you look back to our financial crisis, we started pumping these things up big time, printing money, borrowing a massive amount. it helped keep the stock market up, real estate, consumer spending, private credit up, but all the bubbles come down. gerri: tell me what the dominoes are. all that debt out there, the fed's, all kinds of liquidity in the economy now. the bonds, bonds are expensive. yields are low, low, low. at some point someone will decide, i will sell these because i can do better somewhere else. >> well, first, what is interesting is the fed has manipulated the market. manipulated the bond market, so it will try to buy the bonds, but it will come a point when that

kids: bubble! yes. b-b-bubble. wow, that's a really big bubble. heads up, dog!ts) (barks) narrator: be careful, dog. remember, that bubble could easily pop. uh-oh. (howling) (humming) huh? (howling) (grunts, chuckles) hi, dog. (laughing) don't! that tickles! dog, are you all right? we saw you fall from the sky! (barks) ah, he's fine, frog. (sighs) that's such a relief. (howls) but i think he wants something. i know. he wants a bagel. no, he wants a baby bottle. i believe he wants a bubble. okay, dog, what do you want? (barks) hmm, he wants something that starts with the letter b. oh, he's making a circle with his ears. so what he wants starts with a "b" and is round... uh-huh, uh-huh. okay, and now he's bouncing. so what he wants starts with a "b," is round and bounces. uh-huh, uh-huh. let's see, um... uh... b-b-ball! (barking excitedly) all: oh, a ball! well, then dog, now that we know what you want i think it's time to... all: ...build a word! ♪ ♪ ♪ it's time to build a word ♪ ♪ let's build it, let's build it now! ♪ (squeaking, twanging) kids: ball! ♪ yeah, we

. >>> bubble trouble. a 5-year-old girl suspended from school for threatening to shoot a friend with a hello kitty bubble gun. >>> and it's inauguration 2.0. ♪ you make me feel like i'm living a teenage dream ♪ >> the celebrations have started. >> are you excited to be here for the inauguration? [ cheers ] >> but the burning question remains, what and who will the first lady be wearing? ♪ my heart stops >>> good morning. >> burning question. everybody wants to know what she'll be wearingment >> everyone is talking about that. by the way, this is january 20th. the constitution mandates that every four years on this day a new president must be sworn in so before noon in the blue room at the white house barack obama will take the oath of office in a small private ceremony. tomorrow the big public swearing in. coming up, we're going to talk to george stephanopoulos about how much the president can really get done in a second term. >> their ceremony will be a bit more subdued than a four years ago. >> a little

conditions and now they have this amazing piece of as they described it white ice with rich with bubbles it sounds almost taste it doesn't it doesn't taste it now we understand that it's been a russian team of scientists who've been there but it's actually it's not an international team so what sort of things are they trying to find out from this water that they've just government yeah i mean as a as i said earlier it may may think by society's eyes not the case it is a huge place here in tactic that absolutely so but what they think the scientists think from this team and from other teams trying to do similar things with different in different legs is that perhaps this huge ice sheet for twenty million years has locked this underground. subglacial lake it's essentially sealed it off from the outside world and that means that if they can extract the air in those little bubbles they can try and form a better picture of what life was like on earth if there was much of it around to that place twenty million years ago they may even be able to find traces of bacteria maybe even more complex l

terror by bubbles, the small pink hello kitty toy gun is an automatic bubble blower.st days ago when a 5-year-old girl said they should shoot each other, the school called it a terrorist threat. >> i think people know how harmless a bubble is. >> it's just bubbles. >> it's only a bubble gun for a 5-year-old. >> reporter: administrators at mt. caramel elementary in rural pennsylvania took action, suspending the girl for ten days. later reducing that to two. the family's lawyer says the psychological evaluation calls the girl normal. but now her record isn't. >> the mother has tried to get the girl in another school since this time, and they won't take the little girl because of this mark on her record. >> reporter: the attorney says the girl did not have the hello kitty bubble gun with her. so was this all a big misunderstanding? after all, it's a new world where parents and school administrators are on heightened alert after the mass shooting in newtown, connecticut. >> she's not aware of what connecticut is, what death is, what shooting is. >> reporter: the school di

there was no bubble gum. she was referring to a hello kitty bubble gum which just sheets bubbles.ubbles don't hurt you. even the school psychologist appointed by the school came to the conclusion that said she has no harmful or predatory intent to. the comments made to her friends about the bubble gum. does not have those risk factors identified for violent behavior. why won't they strike this from her record? why won't they a sponge is? gerri: i wa to bring in sharon . about a month ago. are these school officials responding, over responding to what happened? >> you can say there are over responding, but they have gone completely off the chart. you can respond responsibly, but these people lobbying complete the funds. this is a 5-year-old kid, five years old. does not have the requisite to do anything of that nature. yet they labeled her as a terrorist threat. hello. a terrorist threat? i mean, they have to think about what they do. they have to use their common sense. they don't. they just react. our schools need a lot of work, and the need to revamp how they're teaching our kid

terror by bubbles. pink hello kitty toy gun is an automatic bubble blower but just days ago when a 5-year-old girl said she and a classmate should shoot each other with bubbles, the school calls it a terrorist threat. >> i think people know how harmless a bubble is. it doesn't hurt. >> it's just bubbles. it can't harm anybody. >> it's only a bubble gun. for a 5-year-old. >> reporter: administrators at mt. carmel area in pennsylvania took action suspending the girl for ten days. later reducing that to two. the family's lawyer says a psychological evaluation calls the girl normal but now her record isn't. >> the mother has tried to get the girl in another school since this time and they won't take the little girl because of this mark on her record. >> reporter: the attorney says the girl did not have the hello kitty bubbles gun with her so was this all a big misunderstanding. after all, it's a new world where parents and school administrators are on heightened alert after the mass shooting in newtown, con

or a classic bubble about to burst, taking us all down with it? the evidence is dramatic, on both sides. on the one hand, breakneck urbanization-- building ten new york si on the other hand, ghost towns, empty housing developments. recent headlines report that chinese exports are back on track. but, they also feature co, uponritie thches of the politically plugged-in, stunnin inequality. yes, wages are rising; a middle class, burgeoning wealth everywhere apparent. but, mounting protests against unlivable wages and working conditions. in our 2005 china on the rise series we documented a shanghai tower taller than the empire state building. but, last year, china's broad group, erected a 30-story energy-efficient hotel in 15 days and now intends to put up j220, a 220-story tower more than half a mih, taller than dubai's burj khalifa. while the burj took tom cruise just moments to scale, it took five years to build. j220 is slated to rise, toe to tip, in 90 days. sure evidence of a china >> the world's tallest tower was in kuala lumpur, not far from >

>> well, the student debt is just part of a larger bubble, the higher ed bubble.have student debt that's over a trillion. i guess this is the show to talk about trillions, and you have on the supply side, you have universities going deep into debt. you have a system where the economics are unsustainable. the outcomes are questionable. the inefficiencies no longer cut it. if you look at the tech bubble and the real estate bubble, this has all the same makings; right? you know, what's stunning, the "wall street journal" had a statistic a couple weeks ago that the cost of higher education has gone up four times the rate of the cost of living since 2001, and twice that of health care. gerri: yeah, it's absolutely way out in front of inflation. absolutely true. i think you look at what's going on with the colleges. it's astonishing. it's almost they are warring to get students. what do they do? they build out what they offer of the you know, they have sushi bar in the lunch room. they have an olympic sized swimming pool. it costs money. because the government's involve

or a classic bubble about to burst, taking us all down with it? the evidence is dramatic, on both sides. on the one hand, breakneck urbanization-- building ten new york sized cities by 2025. on the other hand, ghost towns empty housing developments. recent headlines report that chinese exports are back on track. but, they also feature corruption, the riches of the politically plugged-in, stunning inequality. yes, wages are rising; a middle class, burgeoning wealth everywhere apparent. but, mounting protests against unlivable wages and working conditions. in our 2005 china on the rise series we documented a shanghai tower taller than the empire state building. but, last year, china's broad group, erected a 30-story energy-efficient hotel in 15 days and now intends to put up j220, a 220-story tower more than half a mile high, ten feet taller than dubai's burj khalifa. while the burj took tom cruise just moments to scale, it took five years to build. j220 is slated to rise, toe to tip, in 90 days. sure evidence of a china >> the world's tallest tower

researchers found this out after observing the people holding bubble wrap popped more bubbles. it is unclear why cuteness has this affect. but an author suggests that it is possible seeing a wide-eyed baby triggers our drive to care for that creature, but since the animal is a picture the urge may be frustrated. that frustration could lead to aggression. what examples were suesed in this study? stuff like this. >> and this? or this. >> that was me playing the piano. >> and this. even this. >> and this. and maybe this. even this. >> i want to slash this glass table and every window in this room. sherrod, how angry are you right now, and is there anyway to use this to your advantage? >> those adorable things made me hate not only illegal aliens -- >> why do you have to bring that up? >> i want to hold them and cuddle them and since i can't, i want to punch them. >> i thought you were for immigration reform? >> i was until i saw that puppy face. >> i like how you will go after illegal immigrants. >> if the immigrant goes the puppy can stay. >> i am good for that. i am good for sch

why isn't that a bubble? >> there is a bubble in credit. look, i was just thinking this morning when you look at investment grade credit or high yield it sort of looks like 2007 all over again. there you had real estate market where people were getting loans to buy homes that had no business qualifying yet the money just kept coming their way. we're looking now at a high yield market in particular where it doesn't matter the credit quail quality. they can issue a triple c toggle and the money flies off the shelves. it's almost like we're getting to that re-pricing stage again in the credit markets that we saw in the real estate markets simply because people are getting money that probably shouldn't be able to borrow at such low rates. >> bill gross put out a tweet today and i'd love to get your reaction to it. he says, these are his words, great rotation? january flows at pimco show few signs of bond stock reation. first of all what do you think of that and second of all if there is to be this rotation, a large number out of bonds and into

it's the first thing you see the more the background we've all been printing money so these norms bubble of liquidity out and people always talk about how inflation is not going anywhere at a more mature can all take place but the fact is that time and time again we've seen that inflation is too narrow a measure that you will preserve freshness to narrow measure you should look at us of bubbles i believe one of the critical ultimately few us bubbles of course if you don't think about equity office in asia it is one of the nest of nations where it will go i don't think was in markets currently bubbles but i do think more money will flow into some of these markets are restored become quite bubbly in terms of twenty thirteen you've already mentioned that japan was printing money is already tried this approach we know the federal reserve has also tried this tactic what else can be done and you see more printing of money in twenty thirty then what needs to be done in terms of the global economy to get it moving again. i'm afraid of a bit old fashioned here i think what needs to be done is a m

the car designer bought the "lincoln futura" with its bubble top for áooe-dollará in customized the caron the popular show for two ed - years in the mid-19-60's. now the batmobile is expected to rake in seven plesaent this weekend ...but some very cood weather is on the way here's emily gracey with hee ssywattc . forecast. &p you can ,3 you can be in harge of your own &p i-radar is now available at foxbaltimmre dot com. use the inttractive tools to prack coming storms down to your street. go to foxbaalimore dot com and click onni-rrdar dean pees is willing to go tt extreme measures to stop tom brady...the former olyypic athlete he wants to sign to next in sports unlimited... 3 3 3 th [ male announcer ] now at your neighbighborhood sub: the big hot pastrami melt. we perfected the pastrami sandwich -- filled with hot, juicy pastrami, pickles, yellow mustard and bubbly melted cheese. all piled-high on our signature freshly baked bread. made hot, toasty and just for you. and don't be afraid to put your spin on this deli style deliciousity -- add your favorite ingredients, like spicy jalapeñ

i love popping that bubble wrap. >> i never knew there was a bubble wrap appreciation day. >> there isle wrap association that we don't know about. >> i'm sure there is. the building is wrapped in bubble wrap. >> exactly. well, the fun continues. the only thing i can talk about right now is what is going on on our sentinel radar and that is a few scattered showers out to our west and some fog this morning that definitely could impact your morning commute. be aware of that. just a few scattered showers popping up near front royal, charlestown as well. just i little further to the west over areas and we are seeing this. overall, just letting you no he that it is there and once again the fog which is pretty patchy and some areas affecting visibility so do be careful. here is a look our temperatures. we're 44 degrees at reagan national airport. 48 at fredericksburg. we have a mild day coming our way. 46 at hagerstown. look at martinsburg at 50. 52 at winchester. 36 at gaithersburg and that is the same at baltimore. so wow, what a variance we have. up and down the mid-atlantic, pretty much

we report you blow bubbles. >>> her trouble began with bubbles.nia kinder gardener has been suspend editor telling a classmate she would shoot her with a pink hello kitty gun with blows bubbles. the school suspended her for 10 days for issuing a terrorist threat. after a parental protest they reduced it to two days and the incident was dropped to, quote, threatening to harm another student. says the family's attorney, it is laughable. let's discuss in the -- >> lightning rooooouuuunnnnddd d lightning round. >> what is happening to common sense? the world is going mad. >> greg, i think it was a perfectly logical decision to throw this punk out of school for 10 days. >> why is that? >> because she is obviously a terrorist threat with the hellly hellly -- with the hello kitty gun. everybody has to be treated the same otherwise they might sue. this is perfectly logical. >> this is a real crime that schools are forcing families to blow their money on a lawyer. >> the whole thing is just so ridiculous. the saddest part is this mom wisely tried to get he

yale researchers found out that people holding bubble wrap popped more bubbles watching cute images thaner. it is unclear why cuteness has the affect. but seeing a wide-eyed baby or rolly polypuff has a desire to care for that creature. frustration could lead to aggression . what examples of adorableness were used. stuff like that is a next one. oh. it it is on the crotch. next. or this. that was me playing the piano. even this . this. can oh. maybe this. oh, it is. [laughing] even this. i want to smash this glass table and every window in the room. sharod. howangry are you right now and is there any way to use it to your advantage. >> those adorable made me hate illegal aliens. >> i want to hold them and cuddle them and then punch things . >> i thought you were for immigration reform. >> i was before i saw the puppy. i like how you are going after illegal immigrants. >> illegal immigrant can go but the pupep stays. >> when we watched the videos, i look over and dana goes like this. oh. literally made that noise and that made me want to punch things. oh. oh, it is a long day. >> it was a

bubble burst bubble burst.arkets. >> ron insanna why do you think harry is wrong? >> where to start? the last time i was on with harry on november 8 he said it would be the european debt crisis and fiscal cliff that would start to bring the market down and take us to 6,000 over the next two years. harry, i watched your tape just before i came over. >> i didn't say the fiscal cliff. that is temporary. you don't get a 6,000 crash over a fiscal cliff, ron. i'm sorry. >> harry, it was in the tape i just watched. but anyway. >> then let's play it back. >> i asked them to. but apparently they don't have it. here's -- >> i said the dow is going to go to 6,000 over the fiscal cliff? >> you said we had a european sovereign debt problem, spain was likely to be the larger trigger. >> that i said oh, yes. >> the fiscal cliff would be one of the contributing factors. >> yeah. a contributing factor. short term. >> i mentioned both things. >> how about something real here? >> corporations with $1.7 trillion worth of cash. ban

who doesn't appreciate bubble wrap, rob? >> we have a less serious show that comes on before this one. those of you who have never seen "world news now," that's a little taste before we put on the tie and get fancy and formal for "america this morning." >> i like your bubble wrap outfit. it was a nice ensemble. >> finally going to get that emmy. >>> next on this monday morning, why a stretch of the mississippi river is closed again this morning. >>> plus, the president and hillary clinton, a wide-ranging interview. getting lots of buzz this morning. >>> and new details in one of the nation's most famous unsolved murders. [ male announcer ] when you're at the corner of "i'm a new parent" and "i have no idea what i'm doing," you need a hand. well, walgreens is innovating to help. by making prescription refills this easy. and we're bringing our pharmacists out front to answer your questions. at walgreens, we'll do more than help you get well. we'll help you stay well and live well. because that's what it really means to be at t

as we call that bubble and well we're more. for the use them but going on margin of our boxes . and the proof you need is promoting you know the sort of use of credit which i think in the law more negative impact on the economy than anything i get there and when we get back we're going to get a break but i want to talk more about the ways in which the monetary system is misunderstood and perhaps lends itself to wrong predictions that we've seen in the past year or so as some are calling rush and then it all. any day's worth of u.s. spending can the projected new tax revenue from the physical cliff deal pay for take a gas do not google it will tell you after the break and put the fiscal cliff deal in contact plus more with our guests call in roach first your closing market numbers. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm charged welcome to the big picture. divine power in action. i am and she sees me a

why no bubble? you have some real smart market players out there saying that's exactly what they say. >> what and a half years ago on cnbc's web site i posted a note called "bond bubble basketbabbl cited a number of things we would continue to cite. can you imagine a demographically older population wanting to go down in the capital structure, which is to say take more risk. we can't. that's one of the major things. secondly, investors have experienced two shocks in a decade's time plus. 2000 the bubble burst and nasdaq cut in half and 2008, these things linger in people's minds. i watched the movie "jaws" in the 70s have been afraid to go in the water ever since. the public, the investing public, wants insurance and wants safe assets and the world of safe assets is shrinking. the fdic on december 31st had been insurance deposits in noninteresting bearing transaction accounts over $250,000 but those are no longer insured. the world of safe assets in that realm just shrunk by a tune of $1 opinion 6 t

from the sun so if there is none, ultraviolet light will be deteriorating, and it will start to bubble. all of the route jacks are the first signs of with a member in fails, so you want to check around those. all of those areas you have to check. anywhere there is penetration, those are the areas you really want to check. >> a flat roof like this with reflective coating needs to be recut it regularly. if you fail, the protection is gone and the roof deteriorate rapidly. it is not just silver paint, it is roof coating. so typically you need to hire the report to come back and apply a new coaching. you can say you want a uv- resistant coating, but it has to be compatible with what you have up there. roofs need maintenance. call and ask. if you do not do that, the life is short and pepper sibley. go over it and fix it up, that is a good savings. >> if you go up there in your coaching is not peeling or bubbling, it is fine. the group is good for 30 years. it needs to repaint every 5. if it starts peeling, that means it is time to do it. if it is solid, it is fine. >> you should climb into

you can try to identify bubbles. the rest and a lot of research on that. -- there's been a lot of research on that. the financial stability oversight council is made up of 10 regulators and chaired by the secretary of the treasury. one of whose responsibilities is to monitor the financial system, as the fed does, and tried to identify problems -- tried to identify problems that emerged. you're not going to identify every possible problem for sure. you can do your best and try to make sure the system is strong. when you identify problems, the first line of defense needs to be regulatory and supervisory authorities. not only the fed, but other organizations like the occ and fdic have as well. you can address these problems using regulatory and supervisory authorities. there is a lot of disagreement about what role monetary policy plays in creating acid bubbles. it is not a settled issue. there's some people -- asset bubbles. it is not a settled issue. we need to be open-minded about it and pay attention to what is happ

working because former asset bubble or what's more. or. marginal. and the who you need is promoting you know the sort of. credit which are in the long term more negative impact on the. area there and when we get back we're going to go to break but i want to talk more about the ways in which the monetary system is misunderstood as perhaps lend itself to wrong predictions that we've seen in the past year or so some more color and then it also still ahead how many days worth of us spending can have projected new tax revenue from the fiscal cliff deal paid for take a guess do not google it will tell you after the break and put the fiscal cliff deal in context plus more with our gas calling chill first or closing market numbers. free studio time free. download free broadcast quality video for your media projects free media oh god r t v dot com you . look. divine power in action activate this chakra it's. i am just so me it is we are under the control of those governing us if i were at the service of a space mafia i found on that date the magnetic fields