major exclusively and you don't direct people to other majors, of course, never be enough room for econ majors right now. everybody is -- there's like a lemmings, going in that direction, and it's a fine discipline and all but not the exclusive discipline in college. >> guest: not what everybody should be studying. >> host: exactly there should be a wide variety. >> guest: right. it's important. if we're going to talk about that. it's important to emphasize it's not just humanities that have been suffering because everyone is being told to take the pragmatic majors, econ, engineering, computer science. basic sciences, a huge drop in majors in sciences, physics, chemistry, geology. this is going to cost us and it's because students are being steered by all kind pressures, including our president, saying don't major in art history of beings steered into econ and business and engineering. >> host: the national foundation have defunded a lot of the research done for basic sciences, and very competitive so it's hard to main good science faculty to support the research they're doing. that's d

in the current show you could econ pop.called it brings people in who are "house of cards" or "ghostbusters." we bring them in just from that. we educate them. you have companion podcast. anyone familiar with podcast? wonderful. i am in silicon valley. podcasts are wonderful short term radio shows -- short form radio shows. ask if they want more information. they could download the podcast. i will show you a brief clip whatmy favorite episode of i think is one of the most important movies of my lifetime. "ghostbusters." [laughter] and when you remember it? great story of entrepreneurship. there is a quiz at the end. who was the villain? the epa. the government agency. the epa regulator keeps harassing them and forces them to shut down the machine where they have been storing ghosts and causing all kinds of chaos reigned supreme. brings on the marshmallow man. only a big regular could cause a problem that big. and it features great lines about being small business owners. he says, you don't know what it is like out there. th

the nature to be the major exclusively in both direct others there will never be enough room for the econmajors as they go in that direction and there is a fine discipline. it's not what everybody should be studying. everybody should have a wide variety. >> guest: it's important if we are going to talk about that and emphasize that it's not just humanitarian that have been suffering because everyone is being told to take the pragmatic it's all kinds of pressures including the president saying don't major in the history. they are being steered into the econ business and engineering. >> host: the national foundation and support of the fun that a lot of the research to start the basic sciences and it's very competitive, so it's hard to maintain a good science faculty who are able to support the research enough and scale although we've seen a significant uptick particularly in biology. very high. they had 12,000 applicants, 2,000 of whom were from biology. >> guest: biology is setting people on. that might be the path it's that's also the path to a lot of interesting. that hasn't suffered so

in the current show you could subscribe to called econ pop.brings people in who are searching for "house of cards" or "ghostbusters." we bring them in just from hat. we educate them. you have companion podcast. anyone familiar with podcast? wonderful. i am in silicon valley. podcasts are wonderful short form radio shows that you can download and listen to. they are very popular. ask if they want more information. they could download the podcast. i will show you a brief clip from my favorite episode of what i think is one of the most important movies of my ifetime. f course i'm talking about "ghostbusters." and when you remember it? great story of entrepreneurship. there is a quiz at the end. who was the villain? the epa. the government agency. walter peck, the epa regulator keeps harassing them and forces them to shut down the machine where they have been storing ghosts and causing all kinds of chaos reigned supreme. brings on the marshmallow man. only a big regular could cause a problem that big. nd it features great lines like dan aykroyd ta

stronger and strong, gusty winds and as you notice there are the reds indicating very intense storm econ decisions. 9:00 a.m. starting to move toward the south bay and to the 11:00 a.m. hour. your evening rush tomorrow is still looking like moderate rain and it continues. i will be back with all of the watches and warnings and let you know how much your area is going to receive in terms of the rainfall. dan? >> sandhya, thanks. tonight we are getting ready for the strongest storm we have seen in a half dozen years. staying safe is the number one priority. schools are taking unprecedented steps to protect students and staff by cancelling classes tomorrow. an enormous number are canceled. cornell bernard is in san francisco. >> i told the principal, you know, i don't think i will feel comfortable bringing my kids to school. >> athena lewis has been stressed out by the approaching storm. she has five kids in public schools and it is a relief to hear the classes will be canceled when the storm hits. >> we have to protect our children. we never know what can happen. >> athena's daughter is a

>> i think a weaker russian economy first ha pain of the russian econ the russian people which is where the pain is mainly going to be felt. the pain has to be unsupportable for them before his hand is forced or the pain has to become unsupportive for the people in power. the oligarch types. once that's in reach, he's in danger. >> thank you with paul christopher from advisors. >>> big impact on the dow component. general electric with the annual investors today. could it help or hinder the industrial giant's oil and gas businesses and its overall outlook for 2015? mary thompson with us. i gather it was a conservative one today. >> reporter: it was a fairly conservative outlook but also, i think it's a first time in a few years since we've actually heard g.e. give actual numbers. the company is expecting to earn $1.80 a share and $1.75. on the call, jeff said this did include a worst case scenario. they don't know where oil is going but it gave some room to manage if oil prices -- >> what did he say beyond that beyond oil and gas and why is it so important? >> the reason it was so impor

the economy will look like down the road >> well, the stock market represents a certain part of the econ however, median household income adjusted for inflation is about 8% below where it was in 2007, 2008. so wall street's doing well, however, main street or your typical american household is still struggling. >> and struggling in which way, chris? >> well, their incomes are not growing very fast. and most of the income growth we've se is in the top 5%. however, recently, pump price relief and also pretty good employment reports are making all types of americans a little bit happier. >> what do you think, jim? are wall street and main street telling two different stories ri >> no, i don't think so. i think chris is exactly right. the most recent data, whether it's the jobs data, whether it's income spending sentiment savings are all beginning to trend a little bit more favorably in terms of the overall u.s. consumer. and i agree that it's certainly been the top and it's benefitted the mo. nevertheless, i think the trend going into 2015 is that the overall consumer's going to feel a litt

stronger and strong, gusty winds and as you notice there are the reds indicating very intense storm econ decisions. 9:00 a.m. starting to move toward the south bay and to the 11:00 a.m. hour. your evening rush tomorrow is still looking like moderate rain and it continues. i will be back with all of the watches and warnings and let you know how much your area is going to receive in terms of the rainfall. dan? >> sandhya, thanks. tonight we are getting ready for the strongest storm we have seen in a half dozen years. staying safe is the number one priority. schools are taking unprecedented steps to protect students and staff by cancelling classes tomorrow. an enormous number are canceled. cornell bernard is in san francisco. >> i told the principal, you know, i don't think i will feel comfortable bringing my kids to school. >> athena lewis has been stressed out by the approaching storm. she has five kids in public schools and it is a relief to hear the classes will be canceled when the storm hits. >> we have to protect our children. we never know what can happen. >> athena's daughter is a

stronger and strong, gusty winds and as you notice there are the reds indicating very intense storm econ decisions. 9:00 a.m. starting to move toward the south bay and to the 11:00 a.m. hour. your evening rush tomorrow is still looking like moderate rain and it continues. i will be back with all of the watches and warnings and let you know how much your area is going to receive in terms of the rainfall. dan? >> sandhya, thanks. tonight we are getting ready for the strongest storm we have seen in a half dozen years. staying safe is the number one priority. schools are taking unprecedented steps to protect students and staff by cancelling classes tomorrow. an enormous number are canceled. cornell bernard is in san francisco. >> i told the principal, you know, i don't think i will feel comfortable bringing my kids to school. >> athena lewis has been stressed out by the approaching storm. she has five kids in public schools and it is a relief to hear the classes will be canceled when the storm hits. >> we have to protect our children. we never know what can happen. >> athena's daughter is a

in the current show you could subscribe to called econ pop.brings people in who are searching for "house of cards" or "ghostbusters." we bring them in just from that. we educate them. you have companion podcast. anyone familiar with podcast? wonderful. i am in silicon valley. podcasts are wonderful short form radio shows. if they want more information. they could download the podcast. i will show you a brief clip from my favorite episode of what i think is one of the most important movies of my lifetime. "ghostbusters." [laughter] and when you remember it? great story of entrepreneurship. there is a quiz at the end. who was the villain? the epa. the epa. the government agency. the epa regulator keeps harassing them and forces them to shut down the machine where they have been storing ghosts and causing all kinds of chaos reigned supreme. brings on the marshmallow man. only a big regulator could cause a problem that big. and it features great lines about being small business owners. he says, you don't know what it is like out there.

marm econ figured the european militaries and the societies to endure ho rentous sacrifices.ure, there were those at imperial headquarters that understood that the time had come in the fall of 1914 to end the great folly. the field marshall activated at the tender age of 78. advised william ii it seems to me that the moment has come which we must end the war. the pland=lx has failed. they sent him away. the chief of staff in november informed the government it is impossible to beat the allied armies to such a point where we can come to a decent peace. by continuing the war, germany runs the danger of slowly exhausting ourselves. this is from the chief of the general staff. we must make peace with russia now. the civilian chancellor rejected the counsel and sent him home. it began at the marring of 19. we will stay with that. that's not lunch. as you heard in the introduction this morning, it ended at versailles in 1919. in between and we all fudge our numbers, some were around 60 to 65 million young men had been mobilized. nine million possibly killed. 20 million wounded and

labels and selecting fresh fruits and vegetables not only impacts our lives, but our kids and even our econ >> the good news in america, we are living longer. the bad news, we're living lo and so we now need to move from our conversation on medical care to a conversation on living >> reporter: the centers for disease control and preven identified nutrition, physical activity and obesity as winnable battles. a conversation we should continue year round, not just for the new year. for nbc news, i'm gary stryker. >> so what's your new years's resolution? we want to hear from you. >> find us on facebook and twitter, and join our conversation. you're doing a resolution. we always do. >> i'm doing five. >> five? i can't do that. >> i think i can keep at least one of one of them. >> i like the odds. >>> first at 4:00 what happened and why? >> we're getting brand-new details of a tragedy. some of the courageous and frightening efforts to save hundreds of people stuck on a burning ferry at sea. >> from child star to the courtroom, the legal wrangling that will have . >>> new developments at this hou

econ 101, lower prices. gas prices sliding. the average price for a gallon of regular, $2.53.is putting an extra $100 in your pockets every month. 13 states have stations selling gas under $2. more stations are expected to join that trend this week. >>> airline bag fees are moving up. all together, the 27 u.s. carriers took in almost $1 billion in package fees last quarter. that is according to the department of transportation. that is up 9% from a year ago. almost every carrier now charges for checked bags. even jetblue. one of the last holdouts. some are charging for the overhead bin space. >> and shoes. and gas prices are plummeting. you would think they are cutting ticket prices. >> no. >>> on that note, "early start" continues right now. >> breaking news. a school under attack. dozens and dozens are dead this morning. a majority seem to be children. we will have the latest in moments. >>> sydney on alert this morning. a day after a madman held 17 people hostage in a cafe, two of the hostages and gunman are now dead. is australia or the u.s. at risk for more attacks like t

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[applause] examples ofreat humor is with the youtube tv show called econ pop.is amazing how viewership has changed with generations. young people today, most of them don't own a television. if they do on it, it is just to plug-in the apple tv box or whatever streaming device they have. these guys watch all their content where? on the computer. on the tablet. on their phone. it is the democratization of distribution. if you have interesting content, you don't need to go through nbc, hbo, amc. if it is good content, you could get people online. or in any one of these other distribution platforms. it is exciting. young people watch all of the network shows on hulu.com. good nbc show is the same thing as a good youtube show. there was a survey done. they asked young people as they were familiar with mainstream celebrities and youtube celebrities. i had only heard of two of the youtube people. i thought, i watch youtube. i have only heard of two people. young people knew half of the youtube people and only a few of the hollywood stars. if you have good content, we c

if you allow a major to be the major exclusively of course there will never be enough room for econ majors like the lemmings going in that direction. it's a discipline that is not the exclusive discipline in college. there should be a wide variety. >> guest: if we are going to talk about that it's important to emphasize that is not just humanity that is suffering because everyone has been told to take the pragmatic. there has been a huge drop in basic sciences chemistry biology and it's because students are being steered by all types of pressures saying like the present thing don't major in -- [inaudible] >> host: the national national foundations have defined a lot of the research and it's very competitive so it's hard to maintain a good science faculty for grants to support the research they are doing. although we have seen a significant uptick in the stem students particularly in biology. we had 12,000 applicants to thousand of whom were for biology.

when you look at a classic i slm classic monetary theory, econ 101, which you teach wonderfully, howreal economic effects that we have now? how do the fold into where is the wage growth? >> how do i think about the lack of wage growth? >> yeah. >> we have not had a sustainable recovery yet. that is why we need to pursue further stimulus. >> can the fed generate economic growth? >> i think certainly with the right monetary policies they can. to talkry premature now about hiking in 2015. >> it is our twitter question of the day. are you more confident today than you were five years ago? thank you so much. tweet us. >> good morning, everyone of them ruble much stronger. if you are in russia, what do you do with it? in the last hour, oil has given it up. on west texasw intermediate. it's "bloomberg surveillance." >> oil sterling to hold its gains at this hour. earlier this morning, prices were moving higher for the second straight day. saudi arabia is confident of a rebound. futures had climbed as much as 2.5% new york. slumped 21% since opec has decided to maintain its target in novembe

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it's not good for econ frankly, it's not good for ÷z >> so there might be one thing worse, and that ish+s winding institutions in an orderly fashion. so, ms. behr, do youm chairman about what he says about the dangers of fsocs and sifiss. >> i think we learned that there are some institutions that are old the traditional regulating banking sector which can pose v so that is the end game.gh9ç i think in terms of if you ooir going to designate it, it is enormous power. if you're going to make a title egg nation, yo regulate them, that's not the the question is what happens if lot of external costs disrupting the broader economy, then let them >> so say wells fargoór(puu a terrible bug, went under and there was a+e1í medical reporor california, then we would save wells fargo? y wevóo fargo is a the new powers extend to the activities outside the bank. usually, because you do market-to-market loans, it's a slow burn. you see trouble brewing, it $u(u @r(t&háhp &hc% wells fargo fails, i don't think banks in the country, obviously. wells fargo was not the bank ia÷ the bank with the big trad

so, i was the chair of the econ and business department, but i also chaired the ethics minor for severalears. john allison, a friend at cato, helped me build a program on the moral foundations of xaptism. that puts the two together in the same way. and then i got a chance to work in a general assembly for the last eight or nine years in virginia politics. got to know a lot of how the political system works. and wasn't happy with. so things going down in my area in the seventh district, so put my hat in and the people thought it was good to send an economist up to d.c. so that, in short, is the biography and who i am and why i ran, but i'll get a little more specific now. when i ran, i ran on the virginia republican creed. how many virginians in here? oh, really? very good. how many of you know the virginian republican creed? very good. it's not perfect, but it's good. >> i don't believe in economic justice and it says the word. >> very good. that's what i'm going to get at today. very good. the first is most important, adhere answer to the free market system because that dross a red line

i was the chair of the econ and business department, but i also chaired the ethics minor for a new years. john allen over at kato helped me build a program and the moral foundations of capitalism so that kind of puts the two together in the same way, then i got a chance to work in a general assembly for about the last eight or nine years in virginia politics, got to know a lot of how the political system works and then just wasn't happy with some of the things that were going down in my area, in the seventh district, so i approximate put my hat in and the people thought it was good to send an economist up to d.c. so that in short is kind of the biography and who i am and why i ran. but i'll get a little bit more specific now, when i ran in virginia, i ran on the republican creed, how many virginians are here? oh, very good? how many of you know the virginia republican creed. it's not perfect but it's good. i'll go over with it you. [ inaudible ] very good, okay, good, that's what i'm going to get at today, very good. let me go over that creed with you a little bit. starts off, the first