the bubble -- as six or seven years ago. the bubble happened.here is a bubble in the private markets. when you have to take a company public or you have to sell, then you get -- find out how much of a bubble there was. emily: will it look like 1999? aneel: not to the same extent. the people impacted will not be the public market. 1999 to 2000, the markets -- it sent it into a tailspin. i don't see that happening this time. bhusriworkday ceo aneel there. first up, we have the void. they have a different way of looking at indoor entertainment. >> the void is an adventure. ♪ >> a lot of people have described it as a vr theme parks, but i think it is something more than that. it's been ability to step into a completely alternate world -- it's an ability to step into a completely alternate world. we wanted to make it more than virtual reality. in order to enhance that, we had to merge that with physical reality. we are doing everything in-house. we have everything from engineers to visual effects artists to various forms of videogame development. wha

to keep the bubble going.when bubbles burst they don't just correct 10% or 20%, they burst. they crash. i studied history and anybody who argues otherwise i want them to give me an example. this is the beginning of something that is going to go much lower over the next -- by late 2016 or early 2017. how it gets there, i don't know. >> you believe that everything goes down you. from stocks to gold to oil, it all goes down. that's what you're -- >> that's been the case and we have predicting this for years. china is the epicenter, commodities go down. oil goes down, that ciliares energy and fracking industries which has huge debt in the frackers. this thing reverberates. we triggered the last crash in 2008 with our subprime crisis. china is the biggest trigger in falling oil prices. in the then, since everything is bubbled up -- this only happens once in a lifetime week he roaring '20s. what did not go down in 2008 is what i ask people. >> is this inevitable? is there anything, any authority, anywhere, can do to

now we've got it artificial bubble, so i don't see this as a correction. bubbles don't correct. they burst. and this bubble has been stronger than 2002 to '07. it has been strong in the just s&p and the dow and the tech bubble, not as strong as the nasdaq. i think this is the major bubble unfolding. the next stop is about dow 6,000 by late 2017. but our trends don't really bottom until the early 2020s. so to me, once every generation we have an extended bear market, like, '68 to '82, that's when demographics were pointing down. demographics pointing down for a long period of time. it's hard to keep a economy going when consumers aren't spending. it's hard to get business investment up when they respond to consumers and government taxes both. so when they're both slowing down, the government loses. deirdre: so, harry, to just points to talk about here because i hear what you're saying about consumers not spending. but at the same time that we're seeing all this pressure on the stock market, oil at a six and a half year low. you have it cracking that 38-dollar per barrel, gas gets

new york, washington, the in the bubbles. new york, washington, the political thrillers, our california lifestyle. so we kind of know what the people live like because we see it all the time, but how many times can you think of a television sitcom that treats religious people respectfully? that treats us as if we really are pretty normal and balance, engaging people. were usually viewed as people who are mouth breathing knuckle, that are just so backward and are highly uneducated, incredibly anti-intellectual and therefore really not just up for the same level as the elite. that's that's what i'm speaking about. >> and this is what i love about our long friendship, nonbeliever, you're a baptist minister and yet we both have a really deep respect for the judeo-christian values that this country was forged on and for the american faith group and you call on people who can't put faith and family first the new american outcast. i think that's what you're getting at that hollywood, in particular, did pics people of faith in put fa

stock markets does not look like a bubble. bubble. it was not obvious that this was inevitable, that we had to have a large stock market decline, just to back in line the line profitability. my guess is this will not be as long-lasting. i made froth, but not a huge bub. that was bound and caused damage. when regular people buy stock, they think of it as a fractional piece of a company. they own equities of some sort. why has the overall value, or the perception of the overall value of so many companies changed so much. >> we are buying inflation. what the entire economy is going to do. as we saw in the financial crisis. expectations of the future can actually shift relatively quickly, and big swings, and what i would do in this situation is that this is a solid little piece. this is a share. global economy that you have brought. a global economy that is partly committed through the u.s., connected through europe, fren for example, if you go into your home, all the things you buy, think of what would happen if off. how would you feel a

. >> behind me is what's called the bubble. that's for your highest of all profile cases. >> more regular ad seg inmates are allows to interact with others during rec time. bubble inmates must spend the one hour out of their cell in the rec yard alone. one of those housed in the bubble is norman smart. >> mr. smart was placed in there due to the fact that his case was all over the news. mr. smart was also well-trained in the martial arts. so we wanted to not only just protect mr. smart from the other detainees, but also protect the other detainees from mr. smart if there was a confrontation. >> i'm in the bubble, they call it, which is the jail within the jail within the jail. they put me in here. it's been 183 days which is a little over six months. >> four days earlier, smart's trial for aggravated assault and murder in the beating death of his wife came to an end. medical reports said that smart's wife died from strangulation and numerous internal injuries. prosecutors presented evidence that smart had beaten her with his ha

alix: do you see signs of a bubble? >> there is a bubble in government bonds, you need to figure out how to let that deflate. " the nail on the head. probably more harmful for the economy than helpful. the fed should take a page at wayne gretzky's look -- book, can we get the policy rate off of the bottom? bubble inere is a treasuries, where should the 10 year yield being? joe: -- 275 -- 2.75%.ound we have an aging demographic leaning toward savings. our view is that rates are heading higher and the yield purpose, given that global forces should put a lid on longer-term yields, but we're also aiming higher at a grinding face. alix: do you agree, michelle? >> from an economic perspective, the old rule of thumb was that 10 year yields should be looking at gop growth. to come inunning 2.5% -- you are looking at the be 4%.ical level of may i'm not sure that we need to worry about yield moving to those kinds of levels, but it does speak to the fact that there is liquidity that has found its way into the bond market. joe: mic

i love bubbles. >> you know what? you (bleep) yourself larry. >> larry: what does that mean? you are part of the problem. it is part of kids using their imagination playing with something dangerous. where is the imagination in blowing bubbles larry? >> larry: okay. imagining what that bubble could be? i wish i could shoot you in the face right now, larry. >> larry: toy gun! >> you know what, i can't, i can't because i am a punk ass bubble blowing fun toy. >> larry: you are very hostile. >> and no one is afraid of me. and nobody is going to get killed because you look real. isn't that the point here? i guess. that's another thing we can thank osama for, right? whatever, larry i have to get out of here i am meeting with my prepared toy knife you know what he does now. >> larry: no what does he do now? he is barbie's surf board. >> larry: of course he is. does he blow bubbles too. >> go to hell, larry. >> larry: toy gun, everybody. we will be right hello parents of the world! i'm jenn mcallister and today i'm going to gi

it says to the people in the bubbles here is who we are. you don't know us. you don't know what drives us and makes us think what is important or why it is important to us. read the book and maybe you will find out the good ole boys are not so bad. >> host: you describe things in the book but surely you don't think everyone in the bubble is bad and not ever bubba is good. what point are you trying to make in describing the country in this way? >> guest: it is cleary a generalization. you will find bubbas in mid-town manhattan in the way they think and feel. and you will go to places like birmingham, alabama and find ultra liberals. i think it is true the culture and lifestyles you will see and the bubbles are very different than in bubbaville. over the past six and a half years when was going to new york to do my show for fox, i came to realize when i get off the plane and i am in new york for two or three days i am in a different world than the world when i get back to bubba ville. people would say have you moved to new york and i would say i am not moving t

this is what it might look like if you chose to live your life in a bubble. >> oh. well that's actually kind of fun. >> it is fun. lots of different sporting activities, in a bubble presented in this video from team supertramp. >> i'm like, what? >> devin graham, you're taking a comedic approach, i love it. >> he's stepping outside his realm of just doing the most beautiful stuff, he's putting together these skits as well. everyone loves that, that's why we share them. >> it cracks me up. >> you know what, your life would be limited if you were in a plastic bubble in so many different ways. >> oh, but it could be so freeing as well. just go barrelling through life and not worry about getting hurt. >> look at that, definitely would work. >> he's untackleable. >> really funny stuff. and as always, devin puts out a behind the scenes video so you can see the kind of cameras they use. >> if you want to see the rest of this, go to rightthisminute.com click on tv show or use our mobile app. >>> puppy takes the stairs. >> mr. peanut butter, down some stairs? [ dog whimperin

housing bubble or the dot.com bubble at this stage.there is some interestingly there's some recent writings that the venture capital sector looks pretty bubbly. i think that's isolated, although somebody pointed out to me it turns out it's more interconnected than i might have been thought, there are some pension funds that are getting into that. there are always going to be some speculative sectors but i don't think the fact the fed has been so low for so long has created some grasp for yield that has led to bubbles. but i do think that, i do think that the that the defensive mechanisms against them -- and this is sort of hitchhiking on jennifer's point -- are not yet in place are not -- i know they're not yet in place. and so that's kind of the key insight that i have, and it is worrisome. >> well we're getting into a presidential election season, and this would be the chance to describe the problem in the terms that you would like to hear it describe and to commit to an agenda that's a reconnection agenda in its specifics as well as

you look at what is going on now, the problem is you are creating a bubble in the bubble could explodeliked paul volcker a lot. he was a terrific guy and he had a good pulse and would, to me come a he was doing what had to be done. right now we have the low rates again from the standpoint of what i do in terms of real estate i am building the old post office now. i am finishing trump national doral in miami. from the country's standpoint i am not sure it is a good thing. i agree with creating a bubble. john: do you like the volcker rule? donald trump: i met him a few times and i thought he was terrific. his policy and demeanor, it was something very solid about him. his demeanor were very good. mark: i asked about treasury secretary's, if you look across the history of the u.s., who is the treasury secretary you think was the best? donald trump: i do not have an opinion on that. we have had some good ones and we have had some bad ones. they are talking about lots of info pictures on beautiful bills and we will see whether that works out. i have a real opinion on that. federal reserve r

this is what it might look like if you chose to live your life in a bubble. >> oh.at's actually kind of fun. >> it is fun. lots of different sporting activities, in a bubble presented in this video from team supertramp. >> i'm like, what? >> devin graham, you're taking a comedic approach, i love it. >> he's stepping outside his realm of just doing the most beautiful stuff, he's putting together these skits as well. everyone loves that, that's why we share them. >> it cracks me up. >> you know what, your life would be limited if you were in a plastic bubble in so many different ways. >> oh, but it could be so freeing as well. just go barrelling through life and not worry about getting hurt. >> look at that, definitely would work. >> he's untackleable. >> really funny stuff. and as always, devin puts out a behind the scenes video so you can see the kind of cameras they use. >> if you want to see the rest of this, go to rightthisminute.com click on tv show or use our mobile app. >>> puppy takes the stairs. >> mr. peanut butter, down some stairs? [ dog whimpering ] >> e

>>> and video that shows what life would be like if you chose to live your life in a bubble. why it's much harder than you think. >> what? >> a baby badger gets a new snuggle bunny. >> that's not another badger baby, y'all. that's a fox. >> why nap time's never been cuter. thanks t to o momom m anand dad their safe drdrivivining g bobonunuk from allstate. ohoh. . lolookok a at t tht safe driving bonus. are you u a a sasafefe d d? lulucky y lilittttlele f. ononlyly allllststatate sag boec iving safe. sesee e hohow w mumuchch m moe agent can do for you. cacallll 8 87777-6-64444-3. lilikeke i in n momostst f fs always the last to know. ththatat's's w whyhy a accccidis wawas s ththe e fifirsrst t thtr when he switched to allstate. michael james! mimiddddlele n namame.e. . geget t acaccicidedentnt f for from allstate and kekeepep y youour r raratetesp just because of an accident. fifindnd o outut h howow a a e agent cacan n hehelplp b betetteter family. call one right now. plplusus, , drdriviverers s whwd an average of $498 a year! jujustst a a f fewew m more good hands are dodoin

i blamed the fed for the bubbles. the market causes the collapse of the bubbles.e fed is responsible. you cannot have distortion and financial bubbles. this bubbles. this is a bad message. it pretends there is a lot of savings. they manipulate interest rates and people do dumb things like overbuild are over invest. it is contagious and the market says is really out of whack. you cannot sustain this that it eventually eats away at production and you have to correct things. nobody likes that because politically that is not acceptable and you can't get anything through like that and congress. besides, not too many people in washington understand the business cycle. >> and i'm glad you do. you do. you can speak some sense to this is obviously in places like china they are essentially doing the same thing. what are they doing is having an effect on us and global markets? >> they are closely related because we help create the problem in china. we were able to export inflation. we do get a free ride even though distortions occur, they last longer because we have the priv

. >> finally, bubbles are magical. >> unbelievable bubbles. i've already filled it with the bubble solution, unscrew it and now we'll take it out and everyone loves bubbles, never ever too old or too young. so it is going to be messy, open this up. >> clearly an outdoor activity. >> look. >> mine makes little heart- shaped bubbles. >> they are beautiful bubbles when you take this outside yes they are a little bit messy in the studio, they are beautiful. all right. i think we're having as much fun as the kids, this is such a great time head to our website at cbsnewyork.com, this is cbs 2 saturday morning we'll be right back with a look at that forecast your top stories and more bubbles maybe? prep trauma unit 5. what've we got? bp 64/40 sterilize sites. multiple foreign objects in the body. tweezers. (buzz!) (buzz!) if you're the guy from the operation game, you get operated on. it's what you do. (buzz!) if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. come to sesame place before little kids b

>> he is going into the bubble, the segregated area. >> the bubble, as it's known in the jail, is thection of the facility. >> i was perfectly fine in my own damned zone. i see [ bleep ] in return. >> the four cells within the bubble have another feature that make it a good fit for elijah. instead of the porcelain sinks with exposed metal piping found in most cells, the sinks in the bubble are stainless steel. >> that stuff can always be destroyed, whether it's chipping walls and sprinkle heads, but there will be less stuff for him destroy and less weapon to use on an officer like a portion of a skimping or a metal pipe. >> but elijah disagrees and would barely discuss the matter. >> i'm mad. >> why is that? >> because they shouldn't move me. >> it seems like you want to be in control of where you are at. is that part of it? >> i know they're going to have a busted water sink. i can tell you that. >> coming up, javier elijah's mood improves. >> i was in one of my bitchy moves. i was pms'ing. >> i got it together. >>> and -- >> i'm designing a chest plate for a tattoo pattern. >> charl

a property bubble.bble that was created purposely by the government to try to encourage the ordinary chinese man and woman to buy stocks. stuart: okay., peter. can their bad shape create a recession here in america? >> absolutely. i'm not saying that it will, but it certainly could because of the effect. if you look at the fundamentals, i do not view u.s. stocks as overvalued by historic standards. if you look at valuations over the last 25 years, we're not that far off. if you look at them over the last ten years, of course we're off because those numbers are dominated by the did yo bubble and that's the comparison that people make. the 2007 bubble. the fundamentalists of the economy are sound, we're going to take a hit. not so much from the point of view of export revenues, that's going to matter. general motors, for example. sell so many cars in china, apple sells so many phones there. but the big feel diehl would be china trying to export out of this by flooding the markets even further. the adminis

emily: would you use the term "bubble?" david: we don't sit around and talk about a bubble. we talk about prices being expensive, but we make our decisions on a micro basis based on if it is a great entrepreneur to be with or not. as long as we're finding the entrepreneurs and opportunities, yes, the prices are higher and we are taking on risk, but we are finding great entrepreneurs, and we're excited about what they're doing. john: we are trying to create companies in tens of billions or more of value. it doesn't matter too much if you are overpaying. you really have to keep your eye on what your target is. emily: it does not matter if you overpay? john: in the early, early stages. emily: why take on risk if it's too expensive? david: we have companies that are out there, exciting companies, losing money with huge bankrolls because they were raising at such non-dilutive levels and bringing in capital, almost unprecedented. that is the opportunity for the companies to build real businesses within the capital constratints. but that is also the risk. at some point, the music s

is this a bubble that's popping? >> you can't, you can never figure out if you're in a bubble when you're in it. i think this is coming from china. and, the thing that is happened in china always makes crises and panics worse when people don't feel like they can trust the numbers and they don't know what the real story is and what you had in china they have destroyed the information content of the market prices. government is just going to intervene. they will buy up a bunch stuff so you can't tell anything what is worth and official statistics can't be trusted and that is the type of environment that leads to wild swings as people get rumors, they get some information. we'll be down 1000. we're back up to down only 300. trish: you think this is rumorville today? people are just speculating? you don't think people are saying that there is a floor at some point they're getting back? you're nodding your head, chad morganlander, that rumors are fueling all this? >> i believe strongly this happens to do with a reset of g

and i don't even like champagne but fewer bubbles. >> it's a little less overtly bubbly than champagne. it's done in tanks as opposed to the bottle creation part and softer, sweeter usually than champagne and kind of more of an apple flavor to it. >> definitely get some of those notes. this is spanish rose. >> rose has gone crazy. >> i make fun of guys who drink rose. >> people say bro-se. which is kind of, whether you buy it or not, someone out there trying to believe that frat guys drink rose. but this is spanish rose from the kava region with a compa compacompan compancompany company blanc. it's a steal of a wine. >> fancy event? >> then there's champagne from the region in france. this is a 2008 louis brute vintage. a small percentage of the champagne market. 1.3%. not counting things like don r perignon. that's a long glass. very smooth. it's very elegant. it's got complexity. it's about $80 a bottle. but i like the vintage wines because they're lower than the perignons. >> how much? >> about $80 and above the yellow label zone and a lot of bang for your buck, i think. and it's ju

they are borrowing more to pump up china's debt bubble even more.may make the eventual pricking of the bubble more damaging. >> growth has slowed down dramatically. the rate of increase in overall debt is alarming. the rest of the world is no longer providing china with the genuine consumer demand it did before the financial crisis. this dramatic chinese slowdown has profound applications on the whole global economy, including the u.k. >> it is not just china slowing down. most of merging of economies, from brazil, to russia, to malaysia are in difficulties, that is half of the global economy. the ones that have gone the fastest are in the doldrums. one influential indian central banker that correctly predicted the crash in 2008 says there thanks to not have the power to make it right again. >> i have been concerned about the immense burden of action that is falling on central banks. it is important for central banks to see it some point. we cannot carry the burden ourselves. we may not even have the tools to do everything that is asked of us. >> th

housing bubble look tidy. think with this economic decline that the housing market is in particular risk? : it ise-andresen definitely a worry, but has also been driving market for a number of years is demand outstripping supply. very high immigration. just a this is not bubble, and his actual demand for housing that is very real. this is worse than the pressure areas. at 172 housing prices now in the most oil actuallyeas, they are falling. this could be a great concern going forward, adding to the other risks. bleakyou lay out a scenario for norway, but we always ask what keeps you up at night. what worries you? kari due-andresen: it is obviously this right then we are also worried about what is china doing at the moment when the growth potential there even weaker than the number suggest. suggest they are looking for every means they can use to develop the growth. if chinese growth should slump even further than we expect it could leave the oil price to stay low for even longer. that would be very bad news fo

i think the commodity bubble was based on the china bubble. a lot of bets were made in the last decade that the chinese were going to demand a lot of commodities, a lost products, going to be a great source of global economic growth and that bubble is starting to burst real quick. >> i think that's had an impact on the commodity markets. the junk bond market reflects it, particularly in the energy sector. the question is whether this will lead to a global recession, whether the u.s. can continue to grow and help avert a global recession. >> what's the answer, that's the fear. >> history is not on my side here, so trying to maintain a bullish posture on the u.s. equity market. history shows when bubbles burst you typically get recessions, this recession i think is clearly coming from overseas sources. i think the u.s. economy is still the world's number one economy. it's kind of the donald trump of world economies, it stands out among a bunch of very bland economies and ones that aren't perform sog well. i'm betting that the u.s. is going to do