in one area which is what they did with the housing bubble in the us after the tech bubble the never let any of these bubbles truly collapse anymore which is a sort of keynesian sort of approach on things that they can somehow smooth out these bubbles by in the money supply but they don't seem to realize that whenever they reinflate the money supply in expectation that the. the bubble in for example housing they don't seem to realize that the money never goes to the areas where they the bubble just collapse so they're trying to they've been trying since two thousand and eight to reinflate the housing markets and the money has not gone there now the money's gone towards commodities words cold towards. things like crude and we're seeing it all over the world right now as people start to riot and protest against the rising price of food and this is all led by ben bernanke and central banks all around the world it definitely appears like they're doing everything possible to make the system collapse well the easiest market to manipulate is the stock market and that's what ben bernanke he

now what is that there is a bubble in the gold market. yeah i think that's a very very good question i mean there are some signs of perhaps a very early bubbling gold so if you look at the link between gold prices and the dollar gold price of generally outperform the dollar affects. partly i think there is a reflection of the economy credit crunch from people like on a psychological shifting gold so we do think that kind of makes sense in hawaii but there is this the sign of a disconnect between having said that we think you know prices can continue to rally on a kind of year by year perspective over the next three years we think so. perhaps we are not too far off in the end but we still think we've got a long way to go in this in this bull run and house expects supply to react to the rally. here we put out. just about a month or so ago from aren't the same so they look to all the gold projects that are coming through in the world and they found that they would actually be steady

can she run in a bubble? >> it's hard. for president, and they didn't let me run in a bubble. >> no, you can't. living in the bubble works when you're trying to build grass-roots support, but when you're on the national stage, you do have to answer these tough questions. this is hugely controversial, so are a number of other things. this is someone who has railed against, quote/unquote, government handouts, and it turns out they have received subsidy foss their clinic, for their farm. she received a federally backed home loan. there's something to be said for standing behind your decision, and if you can't, someone will answer the tough questions for you. if that's the opposition, i don't think it's a good play. >> i don't think it's as much the particulars as the inconsistency. you've taken a policy decision, but you seem to have done otherwise in your own business. >> the idea you won't have to answer questions like that when you're on the national stage i think is ludicrous. you can't almost see the light going on autop

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

. >> bubblings bubbles, everywhere and not a trop to drink .ng to end by the end of the day . you know what, bill. i see president obama sent over a gift and they were disappointed because he gave them an obama care waiver. that's what he gives everybody . i sent them over. registered with carble. i got them a cookie puss . i am wondering if you got them something out of the factor here store like fresh ear must haves and triple hl. >> the rain stops here umplela for london. another rainy day. >> and we have it the here. >> that's what we got them muslim veils and illegal in france. >> listen give the french government credit. truth be told. french men would rather to see every woman in the culture walking around in lingerie . asking them to peel every day gash. instead of looking like halloween. it seems to me they are going halfway and i am not sure you want to see them outside of the burka . be careful what you wish for. the men make all of the decisions in the muslim world. who dresses women like this? can you imagine coming over to vegas a

created the bubble.nd the recession and the joblessness. i put that the feet of ben bernanke and tim geithner. that figure was a mistake and wrong policy to put them into high office. i think they felt was during the housing boom in prices. it would have to be somebody who believes in the marketplace and that interest rates should not be manipulated by the government and credit should not be manipulated by the government, and we shall allow the marketplace who help us make wise decisions about what price of things -- what price things should be. >> who would be your dream candidate? >> it is probably better to talk about the policy. sayn't think i will get any nor will republicans must be getting a president and that will be a year or two in the coming. >> do you think this treasury secretary would be the kind of anomaly that could be subject to a filibuster? >> it is are to make a prediction on what people will do not knowing who the is. we should try to get someone who has an appreciation of the market

we can only survive bubble-to- bubble and we know that bubbles killers. we know that. we know that we have an unfair trade balance with china. goods. they have roughly two. $0.5 billion. -- %2.5 trillion. we know that the cost differential between a its counterpart here in the united states is accomplished through subsidies can we have pointed to many vendors at american workers -- which many fingers at american workers and said it is your fault. you are uneducated sufficiently. it is your wages that cause these problems. that is not the case. it is unfair trade that iswe know that the business community is sitting on its hands. with the senator was describing and the congressman, is that they need a free-market policies that induced the behaviors and the outcomes that will restore the economy. we are genuinely at a tipping point. we are right on the edge of no senator or no member of congress being able to fix the problems. there are 15 prescriptions in the task force report. we are not 90s and think that -- not naiave and think they will be instantly enacted. they're

are we watching the inflation of tech bubble 2? >> i certainly think there's no rational way to understand these valuations. i want to be clear here-- social is extremely exciting. there's a lot of business perspective, a lot of optimism that goes along with it, but i think these valuations are based on where people think the next buyer will come from, and not on where the actual revenues of these companies are going. >> jessi hempel is it a little different this time in that some of the companies we are talking about actually do have revenue streams and do make money? >> that's exactly right. i agree with josh. i think that it's impossible to explain exactly what's going on here with the exuberance, but this is not the first bubble. and i think when you say "bubble" people immediately think win 1.0, they think pets.com. this is not that. these are real businesses. >> suarez: but still, when you compare revenues, for instance, to estimated earn necessary the future, those numbers are-- well they don't line up in the way they do in

>> bubbles, bubbles, everywhere but not a drop to drink. >> and how it will all end by the end of theow what, bill, by the way, i see where president obama who is not going sent over a gift and they were a little disappointed because he gave them an obama care waiver and they said that is what he gives everybody. why didn't he give us something special? they were registered with carvel is i got them a cookie push. i wonder if you got them something out of the factor gear store like a pair of bold fresh ear muffs. >> we got them the rain stops here umbrella for london. ♪ >> are you obsessed with lady gaga? i used to like her but now like liking her so much. >> my favorite moment on the red carpet is when she shows up in the simulated egg and eminem in the simulated spermatazoa and they ran into each other and gave birth to justin bieber. a great take on celebrity. imagine the kid that has to carry it in. want to go to the grammies? we will get you right in on the red carpet. you are lugging this egg in thinking i should have taken the chicken suit job today. >> bill: doesn't it for any

the housing bubble and the ensuing collapse. and the enormous recession and joblessness, i put at the feet of ben bernanke and tim geithner. i think it was an enormous mistake. i think they failed us during the housing boom and crisis. to depict in particular, it would have to be someone who believes in the marketplace, that interest rates should not be manipulated and credit should not be manipulated by the government and we should allow the marketplace to help us make wise decisions about what the price of things should be. >> is there someone who would be your dream can't it? >> i think it is probably better to talk about the policies i think the person -- than the person. i don't think the republicans will get a say unless we get a republican president. >> to follow-up on the press -- on a question, do you think the treasury secretary nominee would be the kind of nominee that could be subject to a filibuster? there have been other nominees currently being blocked by senate republicans. is that something washington should gir

so a yego, that was seemingly a building up of the real estate bubble.now, it's all been frozen. and why has it been frozen by the government,ou have to ask. in fact, what happens is the government has decided they want to build low-income housing to take ce of the lower-income grou and th will take at least a year and a half to two years to build. whilewaiting, they don't want to see the price go up, so they freeze the market oig as you ma. >> rose: there's much attentiona wants to change its economic model from an exporting model to a domestic consumption model. >> right. >> rose: can they do that in th? >> this doesn't happen overnight. you know, this is -- this is a gradual process. i think certainly the direction is there. you know, china became an export-oriented country, because we had the cheap labor. >> rose: right.you know, that's- >> rose: and american demand.am. you know, to change from that to domestic consumption, you need -- in china now, of course ha people with more moneyhan before, but still have you take a per capita income level, it's

oil bubbles up and what not to wear this summer on the job.your early morning business headlines are straight ahead. >>> plus, he pushed a friend to do it for his country. now he's been asked himself. will he come through as well? >>> the u.s. women punch their ticket to the world cup final. and what would you rather have, a world series ring or your own baseball card? how about both? you're watching "early today." >>> good morning and welcome back to "early today." i'm lynn berry and here are some of your top headlines this morning. a new reuters/ipsos poll have mitt romney leading michele bachmann in a head-to-head match-up 40% to 23% among republicans and independents. >>> in southwestern china he have heavy rains have stranded residents and caused extensive power outages. no injuries have been reported. >>> sicily's mount etna began spewing lava and ash yesterday and continued for nearly 12 hours forcing a local airport to close. etna is europe's largest active volcano. >>> there were no borings on the final famous running of the bulls in

i thought that if i could speak in bubbles and look the reader directly in the eye that i would be ableproximate the intimacy of that relationship. also, i get to be a dog, i get to be spider-man, bride of frankenstein, medusa, the only one i don't get to be is buffy and it really frustrates me! (applause). >> stephen: do you think that there is any bias in any of the media? because you seem to be expunging all guilt from the record of the media here. >> only if you think that bias has to be political. there are big biases in the media. >> stephen: what's your bias? you work for npr, i assume you have a pro tote bag agenda. (laughter) what is your bias? >> i have a pro transparency agenda. i generally like less secrecy, more sunshine, although i do have a fairly large selection of tote bags. sorry. >> stephen:s where the worst bias you seen in other media? >> i think that first of all there's bad news bias. that's the notion that... that makes you think the world is much scarier than it is. and that's a very bad thing. >> stephen: how bad? could it kill us? (laughter) >> because if you'

your book is titled: "filter bubble: what the internet is hiding from you."ho is it that's doing this hide, and what is it that we're missing when things are being hidden from us? >> guest: well, right. this is a shortcut, but, you know, certainly, increasingly a number of the top web sites and web services, and, you know, even other applications are editing our experience of the web in a personalized way. that means, essentially, they're collecting data from us and using it to carry it to, you know, prioritize pieces of data and show us the things that they think we're going to want to see. at google this happens in the search results. different people get different search results for the same term based on what they've clicked on in the past, what they, what google knows about what kind of person they are. at yahoo! news it happens on yahoo! news, it's actually the stories themselves. and this is spreading across, you know, it's being baked into more and more services online for a simple reason which is that, you know, if you can provide this sort of, you k

authors of a provocative new book on how fannie mae's push- for-profits helped pump up the housing bubble. >> if you are trying to enrich yourself, increase your profits, which fannie mae was absolutely determined to do then that becomes a per version of home ownership. >> lehrer: mark shields and michael gerson analyze the week's news. that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: >> well, the best companies are driven by new ideas. >> our future depends on new ideas. we spend billions on advanced technologies. >> it's all about investing in the future. >> we can find new energy-- more cleaner, safer and smarter. >> collaborating with the best in the field. >> chevron works with the smartest people at leading universities and tech companies. >> and yet, it's really basic. >> it's paying off everyday. the william and flora hewlett foundation, working to solve social and environmental problems at home and around the world. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corpo

of course, it was that way back in the 1990s, and then the bubble burst. could that happen again? tim draper is a leading valley financier. it could happen again, he says, but this time conditions are different. the whole world now is the marketplace. >> you can start a business anywhere, and it will spread around the world fairly quickly because we now have 3 billion users of cell phones and 2 billion users on the internet. >> thank you very much. >> reporter: dylan and aaron aren't thinking of going broke. they are having too much fun growing their company. they must be doing something right. big-money experts say they could get $600 million for box right now, but it's not for sale. >> yeah. >> reporter: tom brokaw, nbc news, silicon valley. >>> one other economic note tonight. it's a done deal. the united states government no longer owns a piece of the chrysler corporation, but the majority stakeholder is now the italian automaker fiat. american taxpayers, along with fiat, helped bail chrysler out a few years back. fiat has gradually been raising its stake, and today it bought

love bubbles? love bubbles. i have this great -- it's an eco craft. it's a bubble wand kit. we can make these beautiful bubbles. >> works of art. look at that. >> look how pretty they are. and they're beautiful. the kids are going to end up keeping them as designs in their room. so it is summer. it's so hard sometimes. going to the beach, we end up taking these big blankets and stuff. this is a seaside beach mat. >> oh, how fun. >> it's really big. you can feel how light it is. it's nothing to clean. and it folds up. it's light. it goes right in our bag. >> can this go in the washing machine? >> you can wipe this down, you shouldn't put it in the washing machine. hose-down and it's great. >> speaking of picnics which is a great thing to do in the summer. i love this. this is the shapes and sharing picnic basket. it's great for shape recognition, for small motor skills. the kids are putting it in and out of the basket. >> good for toddlers. >> 18 months and up. and of course -- >> let's go on a picn

cadel s is enjoying some bubbly d- ride.he race >> 21st and final staple of the tour de france, largely ceremonial. that's why goodell evans enjoys some bubbly on the race. they win this stage for the third year in a row. the 34-year-old evans finishes in the main pack to become the oldest winner of the tour since 1922. the first-ever win for an australian. everyone trying to catch to catch russ cochrane. after an opening round 75 tom watson bounced back, 67 today to finish in a tie for third, nice comeback. he began today tied for the lead but separated himself from the pack early with 6 birdies on the first 10 holes. he taps in for par and wins by a couple of strokes. it's his first-ever major win. >>> pga, british columbia for the canadian open, andres reromero, great up and down, could have been better, takes a u-turn at the cub. if that had gone down he was in a playoff. in the first hole of sudden death, chris blanks, this for bogey, no. he double bogies the first playoff hole. shawn o'hare wins with a bogey on the pla

actually it's a mini series that we are combining into one screening by the director who made the bubblend walk on water and a wonderful israeli fim maker and a drag musical. quite fun. >> sounds good already. let's take a look. it's called mary lou. ♪[ music ] ♪[ music ] >>> you have been doing this now for a tremendous a organization to putting up a film festival together for sure. you have done it for eight years. you will go back and make some films. we will look for that you are a tv producer by trade. you are an artist and know how to tell stories. what is doing this work on this particular film festival done for you? >> oh, man. it's been such a privilege to sort of be able to scan the world of film. not just jewish film, but international film. documentaries, features, short films. to present an array every year that allows us to show the full die mngs not just of -- dimension of jewish life but the way each of us connect to identity and how we understand other people. there is politics involved. there is community relations. there is bringing -- it's putting on a big eevery year

man 2: allow me to crack...the bubbly! man 1: don't mind if i doozy.: is a gentleman with a brostache invited over to this party? man 1: only if he's ready to rock! ♪ sfx: guitar and trumpet jam vo: geico. 15 minutes could save you 15% or more on car insurance. a network of possibilities. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... for greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impossible to say. >>> the debt crisis, what does that mean? are they going to raise it or not raise it? do you understand? don't lie to me. nobody knows. nobody knows what they are talking about. they say because of this trouble, we may lose our aaa rating. i say yeah, well why don't you tell the auto club to mind their own business. leave us alone. >> time no

many trolls many trolls out there saying that don't buy gold and silver those are those are in a bubble those are crazy when the crazy guy is this guy ben bernanke and obama and all of the politicians that america is part of the political theater they pretend there's a red team in a blue team they talk about cutting your taxes while at the same time they're noting here that lower middle income families will be hit the worst and why they're hitting you is because they said that it will not be readily apparent to most americans as long as there are guys cutting taxes they think they're not being taxed this well they are aware of the fact that they're becoming bankrupt but they have no voice they have no vote because only the plutocracy one dollar one vote operates in the united states anymore and plutocracy which is tied into the speculative class they want interest rates to be near zero and ben bernanke is in their pocket he works for them he keeps interest rates near zero saying there's no inflation even though it's gret it's biting him in in the face obviously there is a violation but

the bubble. bubble. was. plain to me. if. it is a in. the . same. moment in. the latest in science since acknowledging some elements of. the church cover it. and you can. still. welcome back cross talk on people about true mind you were talking about the fate of the kurds as the u.s. plans its withdrawal from iraq plus. a. story. ok granting that you know i'd like you to finish up what you were saying before the break here i mean there has been historically a lot of animosity and i'd like you know my degree or another we can discuss in this program go right ahead. well what i think is important is to look forward and there are two core difficulties in relations between arabs and kurds as we go forward the first is that many arab politicians in baghdad wish to recentre lies iraq in particular the control over natural resources and that's in flat contradiction with the constitution of iraq of two thousand and five which was deliberately designed to ensure that each part of iraq our provinces as well as kurdish majority areas could govern themselves and develop t

on the way and that's where the answers will actually come and i think it's time this westminster bubble frenzy is actually placed on hold. there are other pressing matters, mr. speaker, that this nation expects us -- >> we are grateful for the honorable gentleman. >> my honorable friend has made a good point we have set up a full inquiry, an inquiry that was never held under the 13 years of the last government. we've now got to let that inquiry find the answers to all of these questions. it's a very -- it looks at the police. it looks at media. it looks at bskyb. it looks at the conduct of politicians. it is able to ask all of those questions and we should allow it to get on with the job. >> paul? >> news international defense seems to have shifted from one rogue reporter to possibly one rogue lawyers. they haven't fully revealed who knew what and when and who participated in the cover-up. rupert murdoch said yesterday to the select committee that situation was unsatisfactory. prime minister, what would you urge news international to do now to resolve that situation? >> simple, tell the

your book is titled "the filter bubble with the internet is hiding from you." but the internet technology can't do anything on its own without someone choosing to make it do something so is it doing this hiding and what are we missing when things are hidden from us? >> guest: this is a short cut but certainly increase in a number of the top web sites and services and other applications editing experience of the web and a personalized way. what that means is essentially collecting data from us and using it to curate to prioritize pieces of data and show the things they think we are going to want to see at google this happens in the search results different people get different results for the same term based on with a click on in the past or what google knows about what kind of person they are on yahoo! use it happens and the stories themselves this is spreading across being based into more and more services on line for a simple reason which is that it can provide this sort of the code word as relevant you keep people coming back and presumably provide a better

but, you know, you invest in the internet bubble. you know, a bubble is a bubble. everyone is going to get, you know, have some painful experiences. so i tried to do many different things. and some great successes and some signature failures. i think they're pretty much, the big ones, the big bad ones and the bigger ones. >> staff. and by the way, what would you consider your big successes? remarks, would you consider that? >> no, hollywood, the hollywood mentality, and microsoft, just to give you an example, microsoft, if we made a mistake warmest the trend when i was there we would just flies with ourself, how did we miss that? are we going to catch up? and hollywood, it's a movie. it's not that great. box office was horrible. another movie coming out. so it's not the post analysis that you do. i think the healthy post analysis like you have in technology, good technology companies. so i was a bit of the fish out of water in the world. i tried said contribute a few things. one of the few things that dr. but in the book, this is the level of affect i had. hey, shr

so enjoy the break while it lasts because big-time heat is just days away. >> heat bubble.und much more benign than it actually is. thank you, amber. we'll get back to you more in a little bit. >>> america, by the way, is now just over a week away from defaulting on its debt. there's the clock. this morning, there is immense pressure on both parties in washington to cut some sort of deal before the stock market re-opens on monday. there are real fears that there could be a huge sell-off if politicians fail to make some progress today, so let's go straight to abc's david kerley who's been tracking the horse trading throughout the night. david, is there a chance that we will see something today? >> reporter: we will see something today, i am told, by members of the house of representatives that john boehner is going to come up with a framework, some kind of plan to raise the country's debt ceiling, and the pressure is really on boehner right now. he had a meeting last night with other congressional leaders up on the hill after meeting with the president earlier in the day. th

you know we've gained so much support because we have talked about the financial bubble that existed the housing bubble and it would have to be a correction and certainly we're in the middle of that but we still face a lot of problems and i think people are paying attention to in all areas my job has always been to that. to what i've been pursuing for thirty years and talk about the changes that are necessary philosophically and in the campaign itself we'll continue to do more of what we've been doing and that's where we've excelled because we've had a small number of people to be getting now the numbers keep growing exponentially literally into the billions of people now that they know from us so we'll just continue to do what we're doing and stay as organized as possible next nicole we have right now is to do well at the ames straw vote which is coming up in august so that'll be one area that we're going to key in on now in the next month and we here at r.t. will keep a close eye on what ron paul continues to do that was of course title senate representative and republican presiden

must tell that to the world about his intimate being the only savior for the world for mankind the bubble present him as the healer as the great physician but present him as a god of love and so many other things what we're doing in marketing of jesus christ is presented in jesus in this way in other words the viable way so whichever means we do it through whether it's a television literature stand in the street corner talking to people at work at the office or anywhere else communicating the message it's all about presenting jesus in the way that buy a book for the sensitive yes but also i mean it puts be fair it's a business to i mean you have to have a business model and i am not casting any aspersions on your work whatsoever but you know in failing this message and in the the ideas associated with this person at the center of this religion you do have to have a business plan don't you. well yes and the and of course the difference of the people in the world they're the genuine genuine christians who want to present and from what you just christ correctly and there are those who want t

the key is a leverage bubble. >> speaking of the leverage bubble we'll come back with the panel. the real deal to tackle our massive debt, is it what you just heard? or something completely different? the answer may lie in 1945. do we need to restructure that leverage bubble? we'll debate that after this. introducing the schwab mobile app. it's schwab at your fingertips wherever, whenever you want. one log in lets you monitor all of your balances and transfer between accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. diabetes testing? it's all the same. nothing changes. then try this. freestyle lite® blood glucose test strip. sure, but it's not gonna-- [beep] wow. yep, that's the patented freestyle zipwik™ design. did it just-- [both] target the blood? yeah, drew it right in. the test starts fast. you