to hear david stockman tell it, panic selling will ensue. the reality of the forces of higher rates at a chain of events is in effect, but it will do too little to help vulnerable players, you say what? >> i think markets tend to be discounting mechanisms and move in advance of something particularly that has been telegraphed as widely as this has. now, again, i don't know what's going to happen when they make the announce bement. but i have to think that some of what we're seeing, the volatility, weakness in markets is associated with the expectation. i think the bigger surprise would be if the fed did not to anything as opposed to if the fed does something. neil: yeah. that would almost surely trigger sales. >> be i think it would trigger a concern that, boy, they're so reactionary and with every pullback in the market, they're going to accept back and say no mas. neil: thank you, liz, very much. >> thanks, neil. neil: all right, we're getting some news concerning pete rose. anyone who was hoping to see him land in the hall of fame, you're

and david stockman about his book "the great deformation." can watch these anytime or search our entire video library at c-span.org. all persons having business before the honorable supreme aret of the united states admonished to go in and get their attention. cases, we on landmark will look at one of the most divisive issues come before the supreme court -- abortion. >> roe versus wade was decided on january of 1973. isis a case that controversial, that is constantly under scrutiny. and there is a question, i suppose, whether it ever will cease to be under scrutiny. wanting to terminate an unwanted pregnancy but unable to do to a texas law, unmarried carnival worker norma agreed to be the plaintiff in the 1970 case that challenged the law. requesting she remain anonymous, the lawsuit listed her as jane roe, and the defendant was henry wade. when she had the baby and put it up for adoption, her case made it to supreme court. went to several dallas physicians seeking an abortion but was refused care because of a texas law. suit on behalf of he

i have been on the show with david stockman and we talked about this several times and it makes sense. the economy is strong and this is long overdue. the effect is pretty much zero at this point. david: is this anymore it has not worked and so larry summers is saying maybe the world has changed. jason: this disconnect is interesting because summers has gone pretty hard again. this is not like something different,- slightly he is saying this is the completely wrong approach. he says the interest rates will have to go back down and this is the guy who was almost the fed chairman. stephanie: mark, do you want to weigh in? mark: there was an argument that all of the central banks are nervous at the zero bound, that they want to raise interest rates as well as economic justifications. feds in the camp that the should not raise, but if you look at it with fresh eyes without having known the history of the past year, i think that gives you a different picture and i think we all spend too much time listening to these arguments among the practitioners and the economists. if all you knew what

suffice it to say that david stockman has been indicating in his writings -- and he's a bit of a pessimistic as the day everything hits the fan. he's basing that on the day that the federal reserve makes a decision presumably to raise interest rates, quoting from his report here, janet yellen and her posse better pray for a monetary tonto, because they are riding headlong into an ambush in the canyons of wall street, saying that they cannot possibly raise money market interest rates even by 75 basis points without massively drain