first the stain of the economies with energy and oil sources joining me now to talk about it is dr stephen leeb he is chief investment officer at leave capital management. and he is author of this book among others it's red alert how china's growing prosperity the ratan the american way of life he's just the guy to talk about all of this dr lead thank you for being on the show so first because you wrote the book on it it's about america and china your book so is far is resources who's doing a better job acquiring them. well i think that it's just overwhelmingly in favor of china right now and so overwhelmingly i think that even the problems you're seeing in the developed world right now including greece including. the united states including europe you can really trace to the fact that resource prices are extremely high much higher relative to incomes lower in lower income people than they've ever been before and twenty eleven with virtually no growth in the developed world virtually every important commodity you will average higher than they've ever average before average gasoline prices in th