of the century british economic policy i'll tell you all about it coming up and then we have david stockman live on today show all be asking him about the policy of debt and laissez faire capitalism you won't want to miss that and finally in today's big deal i'm joined by boom bust favorite rachel perseus will talk about a new book that's making waves in the financial industry little crafts the wear off coming up and all starts right now. mr crabtree this is much use to the come to cyclones. what a wonderful lady. that was downton abbey and i truly do love that show now downton depicts the lives in a room of in a risk to credit family and their servants and post a warning in error england and before i get started i want to make it very very clear that this is a fictional television show about the lives of upper class crawley family and the british social hierarchy that surrounds them now just yesterday former treasury secretary larry summers wrote an editorial in the financial times a british publication just warning that the us is headed the way of downton abbey with the economy and social

former oh indeed director david stockman joins me now from our new york city studio to discuss yet but us budget deficit fed policy and much much more now welcome david i want to jump right in and start off by asking you a lot of people that we've talked to recently on our show they're concerned about the destabilizing effects of buoyant assets right now is this something that you're concerned with personally. very much but let me observe first that larry summers should know about fiction he's been dispensing economic fiction his entire career and is behind the policies of unlimited money printing that are behind this huge windfall that has gone to the one percent after all when the fed keeps the money market rate at zero for seven years which is its current policy and yellen is reaffirmed that it is essentially creating free money for the carry trades to engage in every kind of speculation known to man all over the world planning dangerous time bombs financial time bombs that one of these days will go off anything that can be traded reposed securitized options the fast money and the h

former hole in the director david stockman joins me now from our new york city studio to discuss yet but us budget deficit bad policy and much much more now welcome david i want to jump right in.

politician businessman and author david stockman live on today's show you won't want to miss my interviewwith him plus a ritual curse is joins me in today's big deal to discuss kevin roose his new book out today called young money inside the hidden world of wall street's post-crash recruits and what shocking revelations of the financial journalist stumbled upon all researching his new book we'll tell you come right up now it's always interesting when rachel courtesy it comes on your show erin thank you so much and that's going to do it for me for now but for more on the stories we covered go to youtube dot com forward slash r t america and check out our website or to dot com slash usa and you can follow me on twitter at meghan underscore lopez stay tuned next. technology innovation all the developments around. the future avar. the the piece of legislation was terrible and they were i'm very hard to make out to let you get along here is a plot that you never had sex with her make their lives let's call it was. just say. listen the i'm . one of the subject. of the. i got a quote for you. it

david stockman is trouble.ed us and we speak as -- speak to the fractious family known as the republican party. good morning, everyone. here live from bloomberg world headquarters in new york. it is thursday, february 13. joining me our expert on bruno mars, scarlet fu. rateeden's unemployment picks up slightly to eight point two percent. futures in europe that are trading down. meanwhile i'm in the u.s. we have retail sales that are a big deal. the weekly jobless numbers. the bloomberg consumer comfort index. 10:00 business inventories. likengs, pepsi, it looks it just comes out with earning slightly better. one dollar five science -- on $1.05. andting the dividend increasing the buyback to $5 billion. >> a big boost. >> that is a big deal. no prices yet. we will let you know when they do finally start trading. we should point out after the bell we have plenty of more earnings. aig, craft, truly up. government offices closed because of the storm. no yellen testimony because of the storm. >> correct. >> betty l

thank you follow it now this week some of our favorite guests wore most lawyer david stockman and while on the show were on the show discussing inflation growth and the state of the federal reserve now let's take a look. back at some of the most memorable moments from this past week check it out . incomes are dear to personal interim growth year over year in slippery. so we're near zero to take a view on how you look at it to look at it in the movie get into it the worse it works so personal income growth is slipping but then you'll get it in real terms after inflation it looks much worse that you get a per capita and worse forces zero level so sure you're getting growth in money to spend ok you get growth in things people buy just as much expense three summers should know about fiction he's been dispensing economic fiction his entire career and is behind the policies of unlimited money printing that are behind this huge windfall that has gone to the one percent after all when the fed keeps the money market rate at zero for seven years which is its current policy and yellen is reaffirme

of the century british economic policy i'll tell you all about it coming up and then we have david stockman live on today show all be asking him about the policy of debt and laissez faire capitalism you won't want to miss that and finally in today's big deal i'm joined by boom bust favorite rachel perseus will talk about a new book that's making waves the financial industry little prats beware saw from an up in all starts right now. mr crabtree this is much use to the country is a cultist. maggie smith what a wonderful lady. that was downton abbey and i truly do love that show now downton depicts the lives in a room of in a risk to credit family and their servants and post a war to an era.

you have destroyed the american .ream all the way back to david stockman and president reagan with theraud trickle down. have beenm perkins the beneficiaries of. >> the other side of it is that they feel, the republicans feel like they are being criticized for even saying is we need to change government policy, some policies. >> sam pays a lesser rate of tax than you do by design. the 99%?e pay for >> he should pay a higher rate of taxes. he should contribute more to the economy. worked for more balance and income. >> there are many americans who do not agree with you on that. >> i know. they are in the top one percent. >> thank you for joining us. we will be back in just a few moments. talking about millionaires and billionaires. we will show you how the state stack up when it comes to the wealthy. where they live and how they spend. ♪ >> you are watching "in the l bloomberg on television and streaming on your phone and tablet. 26 minutes past our. equity futures are pretty much unchanged. several stocks in the grain, including forest labs being acquired by activists. last week we tap

also, david stockman with us. we'll talk to him about the budget. about the deficit.isarray in his republican party. >> thank you very much. and obble we'll have this coming up. >> a bitter taste. nestle posted the slowest sales growth in four years. live with its chief executive next. > but things are looking up. live on bloomberg tv later. >> welcome back. live from london on bloomberg tv. >> nestlÉ, the worlds largest food company posted the world's growth in four years. joining us is the ceo. these numbersall as disappointing. how would you see them? feel they are strong figures. the growth is composed with very soft pricing that will not need it. rep.so have grown in your definitely out performing the market. that is what is good about these figures. they reflect the environment of the world we live in. >> what is your main concerns? the market took the numbers as a little bit disappointing. you are saying we did not do that badly, especially if you look at the developed markets. is there something you could have done better? is there something you want to work o

david stockman is here, former director of the office of management and budget under president ronald reagan. always good to see you. i don't know that statement from the white house, democrats love the it raises wages for 16 million people, however, they disagree with the 500,000 jobs lost. that statement mostly economists i talked to and whose work i read may think this would kill some jobs. >> just another case of washington plunging into the complex machinery of a $16 trillion economy and ending up doing more harm than good. cbo itself admitted 500,000 jobs and the cbo is a readout of keynesian -- normally. you got to take that seriously. the fact is when you arbitrarily raise the price of labor by 40% at the low end of the economy or going to encourage capital to be substituted, technology to be substituted or even people to substitute consumer labor for hired labor. you go to the restaurant and have an ipad, not a waiter, go to the curse the store had a self scan, not a clerk. go to a hotel and there will be a robot cleaning your room, not a made. why do we want to do that? the