we speak to dr mark sawyer publisher of the gloom boom and doom report who says well destruction and social unrest may be on the way for western economies and yesterday wall street had a strong start to the second quarter with the s. and p. five hundred marking its highest closes mid may of two thousand and eight and then today we saw that come down as apple m c minutes came out and revealed that the federal reserve is holding off on more monetary easing unless u.s. economic growth cultures where inflation goes below two percent so why is this gone risk on and what does it mean for the economy that this is the way we're always looking at things and we've heard talk of a possible student loan bubble a more than one trillion dollar debt problem would appears some senior citizens are on the hook for it along with kindergartners we'll explain let's get to today's capital account. now as we've seen stocks rise to their highest level since two thousand and eight and then fall a day later is. indicate hey maybe the fed isn't looking at more quantitative easing at this point it brings us bac

dr. mark sawyer who teaches political science at ucla. all right, doctor, where am i going wrong here. >> wrong on some points. money throwing out cash payments that could be used in casinos, et cetera, but also really most of it is healthcare that doesn't really help lift people out of poverty but keeps them well while they are there and keeps them from getting sick. the other thing is that most of what you call welfare doesn't actually go to the poor. a lot of those programs are aimed at, you know, working poor people, working people and even the middle class, so most of the money that you are talking about isn't being spent or funneled to the poor. very little of it is going to them in cash. poverty hurts education. >> bill: you know as well as i do that subsidizing food and subsidizing housing and subsidizing health costs allows an american then to save whatever money they make, driving a taxi or whatever it may be, in a job that they are trying to move up on, that's what the entitlement culture is and it does go directly to the folks

dr. mark sawyer who teaches political science at ucla. all right, doctor, where am i going wrong here. >> wrong on some points. money throwing out cash payments that could be used in casinos, et cetera, but also really most of it is healthcare that doesn't really help lift people out of poverty but keeps them well while they are there and keeps them from getting sick. the other thing is that most of what you call welfare doesn't actually go to the poor. a lot of those programs are aimed at, you know, working poor people, working people and even the middle class, so most of the money that you are talking about isn't being spent or funneled to the poor. very little of it is going to them in cash. poverty hurts education. >> bill: you know as well as i do that subsidizing food and subsidizing housing and subsidizing health costs allows an american then to save whatever money they make, driving a taxi or whatever it may be, in a job that they are trying to move up on, that's what the entitlement culture is and it does go directly to the folks