in all ecomic sectors all over the country but that raised costs ination became entrenched. it was hard to keep up. it was harder to feel sure who was winning. the cry to do something came from more quarters. was there any real hope that the inflation momentum would run out of steam? were we victims of our expectations that inflation would continue? we asked richard gill. that the inflationary momentum would run out of steam. when inflation gets going, all groups feel they are losers. sanitation workers, teachers, senior citizens, rich man, poor man,l you name it. losers. severybody faces higher prices and thinks, "i'm being ruined." this perception that everyone is losing is unjustified. if prices are going up incomes are going up, too. not everybody is losing all the time. still, when this uncertainty about the future becomes contagious, things can get bad for everybody. it's difficult running an efficient, productive economy when pces change all the time. but whether justified or not, thisear of falling behind can be major facr causing inflation increase. sanitation worke

alan blinder professor of ecomics at princeton university, comments.l, typically, the major cause of inflation is an excessively rapid growth of aggregate demand, of the demand for goods and services a growth rate that outstrips the rate at which the economy's productive capacity is increasing. this is sometimes put in the phrase "too much money chasing too few goods." but there's another kind of inflation, often called cost-push or supply shock inflation, that is caused not by demand growing very rapidly but by supply growing very slowly, or even, in some cases contracting. schoumacher: and so, america was faced with this new kind of inflation one based on supply, not demand. consumers were furious and protested vigorously. we want to boycott meat, we don't want to eat it, we don't want to fill up our freezers with it. we want to not eat it, and we don't want to buy it. i think we'll be effective... schoumacher: but all of this anger, this frustration was merely a prelude for the storm to ce. [ explosions ] on october 6, 1973 the middle east exploded

we have the political and ecomic clouds in the horizon. it could be a stormy month indeed.e with me now, chief equity strategist and senior portfolio manager. looking at your piece from august 26, the title is looking beyond the fed to earnings growth, i'm glad you said that. are these investors, professional investors putting too much time looking at the wrong thing? >> if this market goes up or when it goes up, i think it will be because revenues will accelerate. i don't think it is tomorrow or the next day, but that is what drives the market. charles: i tend to agree with you. the transition, they go from the asset purchases down to eventually zero, and what happens in between that time? we know what happens when they raise rates, but i don't think we have been here before. that would create a huge buying opportunity if the market overreacts. >> i am hoping unsuspecting they know the fed will start tapering probably sooner rath than later, that they will do it in a measured pace, eventually the rates will still be zero. charles: lets point that out. it has been discussed

. >> we are worried about the winter weatherer co ecoming and landslides that could come in. >> reporter: they plan to restart planting trees and hedges as soon as responsible because they say mud slides during the rainy season is a concern for them as well. reporting live in tuolumne county, nbc bay area news. >>> thank you, cheryl. keeping our environment clean in california does come with an expensive price tag. california communities are spending more than half a million dollars a year just to keep plastic and other trash from polluting our waterways and beaches. it looks at 95 communities' annual spending on waste reduction. san jose ranked fourth in the state, spending $9 million, followed by oakland with a little more than 8. measures are called for to reduce trash and share the cost with dealing with it. >>> the legislature passed two bills, one out of the assembly, one out of the senate that called for extending carpool sticker programs. one would extend the green sticker program for hybrid cars to use hov lines. the other extends the white sticker program for natural gas vehicl

because we are increasingly ,ecoming very polarized democrats know who they're going to vote for. hasfastest-growing element been independence. by the time you get to the october debates there are very few that are truly undecided. there are probably quite a number of voters that are either ambivalent or are looking for something that says i think this is my decision and i am looking for information that confirms my decision or makes me think again. i think that is the role these debates play. they provide in honestly importing glimpses into the personality, care to her, and abilities of the people we are to elect. that is part of a process. running for president of the united states is not like running for governor. we want americans to be personally engaged in the personality of the president. it is like any other office. part of what these debates do is they solidify the relationship that the person we eventually elect is going to have with the american people. do not have kings and queens. we have a president. have at the we present is a different one than we have with the oth

big, big i walk away with this little ecome called "the american citizens handbook" published by he national education association in 1951. things have changed quite a bit. 1951.is a lot of things that i have a problem with in her including piece that was written in 1916 called the code of the good americ american. this was a book that was esigned for high school students, middle school students. good e code of the merican is a citizens who are -- this entire piece will make you cringe. and try to become strong usef useful. worthy of their nation. ow many people think this nation is unworthy of us these days on the other side? that our country may become ever greater and better and therefore obey the laws which the best americans have always obeyed. the number one law is the law of self-control. that's it. he good american controls himself. those who best control themselves can best serve their country. i will control my tongue and ill not allow it to speak mean vulgar or profane words. i will think before i speak antigun messages guy which says happen out there. > i will tell the truth and

i repeat, before the land ecomes private property. to postpone an environmental review until after the land exchanges is one of the main reasons local support for this bill has eroded. once the land is exchanged, as mandated by the bill, there is no guarantee a full e.i.s. under nepa will occur. that means no independent hydrology study to access impacts of local water resources. that means no mining plan of operation, an independent jobs and economics report. that means no objective appraisal of the lands to be exchanged. we're stuck relying on the companies' numbers to guest te the value added to the -- guesstimate the value added to the taxpayers. i was astounded that the majority decided to shield the company from testifying in the hearing on this bill. we all would have benefited greatly from the benefit of hearing from resolution copper on the record for their support of the bill, their validity of the study, the lack of mining operations, the lack of a hydrology study associated with a real mining plan of operations and the neg