>> i think that a stronger economy as we have growth in the economy, my expectation is that long-term unemployment is going to come down. short-term unemployment is around normal levels. but i fully expect long-term unemployment to decline as the economy strengthens. there is a debate about whether or not long-term unemployment may have less effect on wages and in turn on inflation than short-term unemployment, and that's something that's receiving a great deal of public attention and discussion, rightly so. but i have very little doubt that if growth in the economy picks up and continues long-term unemployment will come down. >> one of the hearings i chaired this last year was with robert rush, it was about income inequality. he talked about how right now we have a situation in our country where the wealthiest 400 have the same amount of wealth as the bottom 50%. and the international monetary fund recently warned that income equality is actually a drag on our country's economy. why do you think we have seen this rise and how does it affect economic growth on the country as a whole?

economy. first let's get numbers on wall street, dow rose to 16,580, that is the new record, the dow is now higher for the month, nasdaq up 11 points, down 2% for april and the s&p added five points and is also higher for the month. >>> after that data, economic growth in the first three months of this year was much weaker than expected up just 1 tenth of one percent. adp reported 220,000 private sector jobs added in april the most since november. steve liesman has more on the numbers and the economic reports and tell us ab)wá the state of the economy. >> two reports ending in dp, adp and gdp and they could not be more different. gdp was a real shocker at a just barely positive 0.1%, consumer spending up 3% but a good portion of that was increased spending on health care as a result of the affordable care act. housing down nearly 6% for the second lousy quarter in a row. business equipment continues to disappoint. and government spending was down a half a point failing to bounce back from the

economy, as we have growth in the economy, my expectation is long-term unemployment will come down.rt-term unemployment is around normal levels. long-termy expect unemployment to decline as the economy strengthens. there is a debate about whether or not long-term unemployment may have less effect on wages turn, inflation, than short-term unemployment, and that is something that was seething a great deal of public .ttention and discussion i have very little doubt that growth in the economy picks up above trends at the pace, not long-term unemployment will come down, too. >> last year, we had a hearing about income inequality. robert talked about a situation in the country where we have the wealthiest 400 has the same amount of wealth as the bottom 50%. the international monetary fund recently warned income inequality is a drag on our countries economy. why do you think we have seen this rise and how does it affect economic growth for the country as a whole? do you think it is a factor? seen a trend toward rising income inequality, and income and wealth. i personally see this as a ver

does it have positive effects for the economy, and do those positive effects for the economy and for the globe outweigh the negative effects it has on other countries. that's the kind of debate first we should have. >> could you explain a bit more in details about the measure, the concrete systems to prevent the spillover effect? >> we have to think of a better kind of safety net in the world, whereby countries when they experience a lot of capital inflow don't, you know, have to resort to substantial reserve accumulation to avoid the potential native consequences when that capital goes out. so think of stronger safety nets around the world such as better imf lines of credit, more tolerable ones. >> all right. that is going to do it for biz this hour. here's the markets. accumulation to avoid th >>> billionaire businessman petro poroshenko has been named as the winner of the presidential election in ukraine. poroshenko captured more than 54% of the vote. former prime minister julia tymoshenko got about 13%. poroshenko's aides say they're organizing his inauguration for next week at i

>> we think the economy will remain weekend at the celebration -- >> why does everyone say this economy when we are talking about seven percent annualized growth? cannot have 10% growth anymore for an economy of that size so naturally you ratchet down. >> if everyone is building up the same expectations, there is also some expectation in the market hoping that demand will remain really strong but it is becoming less so. >> what represents the recession and the hard landing? below 5% but we think that is a very low case. >> why a figure like 5% in your view? >> that means for a few corridors, the growth would actually be negative and that is possible for china. the implication for employment will be huge. going to beably more than the policymakers can handle. >> a can be painful. that's the thing. maybe the pain could actually do china some good in the long term. >> it can force the government to reform faster. it's all about reform and a day. general.i from scoiete the number, 48.1 looking for 48.4, so further weakening when it comes to manufacturing reflected by the numbers we had a we

and david, how you can spin this to say the economy is so strong, that's mind-boggling. >> the economy is strengthening and we are getting unemployment down and employment up. >> you are talking crazy talk, all right? the thing that is happening here is, look, overall, i do agree with the government numbers. we have about 2% inflation because we don't spend our entire budget on food and gas, but i will say this, for those that don't remember, you know, back in the '70s when we did have hyperinflation, we had a lot of -- my gosh, 30 or 40 years of calmness, so the recent spikes we have seen -- i have even been pumping my own gas, yes, i do that, and i have seen the prices spike. to me, it looks like in the face of all the calmness, prices have spiked. i think we are on the cusp of serious inflation. >> does it even -- maybe they are getting it right in the government, but is the equation wrong? we are still using the same equation to calculate this stuff. things have changed. i think they should put rec fees in the calculation. >> it's a known fact, and not an opinion, that they have ch

>> i think that a stronger economy as we have growth in the economy, my expectation is that long-term unemployment is going to come down. short-term unemployment is around normal levels. but i fully expect long-term unemployment to decline as the economy strengthens. there is a debate about whether or not long-term unemployment may have less effect on wages and in turn on inflation than short-term unemployment, and that's something that's receiving a great deal of public attention and discussion, rightly so. but i have very little doubt that if growth in the economy picks up and continues long-term unemployment will come down. >> one of the hearings i chaired this last year was with robert rush, it was about income inequality. he talked about how right now we have a situation in our country where the wealthiest 400 have the same amount of wealth as the bottom 50%. and the international monetary fund recently warned that income equality is actually a drag on our country's economy. why do you think we have seen this rise and how does it affect economic growth on the country as a whole?

theas really kick started economy.olitically, they want to get rid of it before next year's election. >> is the sterling a good thing, approaching 1.70 against the dollar, over a year high against the euro. it pushes down inflation. is pushing down inflation mean they have more scope to keep rates low for longer? what does the pound strength mean for the mpc? dilemma.a real the ecb is certainly going to cut rates imminently. if the boe says we are going to hike rates soon, that is piling into the pound, which bears down on inflation. i think that there will be measures in that language in the hawkish direction, but i think they will stop short of being explicit. it will push the pound up further and it will deliver tighter conditions. in goodconomy itself is shape, isn't it? looks like it will be the strongest g-7 economy this year. is that in line with your thinking? >> pmi is close to 60, absolutely fine. , unemploymentowth falling like a stone. there do not seem to be any bumps in the road ahead. >> are you worried

the economy is losing a lot of jobs. i think it gives all of us a reason to pause and say what do these unemployment numbers what are they really telling us? the unemployment number is coming down yet people are still losing jobs, yet they're still out of work. where is the focus of employment numbers. they didn't give us much direction although the ism numbers that came in today, very positive, maybe that gave us a little bit reflection on the overall economy, given that uncertainty with those numbers we saw, overall economic numbers how would you bet on that? how would you bet on this economy in the market? >> i think it is still positive growth. we think the economy still plugging away. not growing at pace we would like. the fact is, if you were to look back to 2008, when we really were losing 800,000 jobs a month, you look where we are today, the economy come back a long ways. our research shows what causes a bear market is a recession. right now we look at economic data, only some things give us reason for pause. th

reject the washington insider economy. let's embrace the mainstream competitive economy. the morality. future do, america's will be one of unparalleled freedom and opportunity. the future were all children will be bound only by the size of their dreams. a future where you succeed because of your abilities and a mission, not because of who you are in washington. thehe end of the day, future is not in my hands. it is in the hands of all the citizens of this great republic. we all remember the quote -- jefferson famously wrote madison. surepeople are the only reliance for the preservation of liberty." let's all leave this call today and be about the preservation of liberty. thank you very much. [applause] >> apparently i just volunteered to take a few questions. yes, sir? >> you mentioned about global competitiveness. free market might dictate that the jobs in the united states, because the financing and the tax code -- having reduced the cost of litigation and making things in the u.s. more sympathetic, what do you think the implications would be? do you think that those jo

a stronger economy.would it be 1:1. >> i think most projections would suggest that as growth picks up and we are getting the economy moving back toward full improvement -- employment, the effect, this is a case of higher output on the economy, the federal budget deficit would be larger than the negative impact of higher interest rates. >> net positive. >> it would -- >> got to move on. >> sequestration. if it is fully implemented in 2016. what would it have on terms of the long-term national debt? small, medium, large, insignificant? >> what matters is the overall size? >> sequestration itself. would you agree with me at a low effect on reforming entitlements? just discretionary spending? >> is not something that addresses long-term problems. >> what are the long term problems? >> what shapes the long run trajectory -- >> retirement of the baby boomers? >> yes -- >> 8 million of us are going to retire in the next 20 or 30 years and slump medicare and medicaid and medicare and social security care care? >

so the effect it will have on the economy is to restrain the economy, to make sure that we don't allow inflation to rise above our longer term objective. >> thank you. my main concern having served on the committee in the early to mid 2000's, very able and highly predecessor sat where you sat and assured the committee maintaining low interest rates for an extended period wouldn't cause general price inflation or inflate -- which didn't prove to be the case. after the credit fueled housing bubble burst in 2007, the predecessors assured the committee that this would -- the committee, this resulting weakness would be confined to the subprime segment of the housing market and the damage would be limited to about $150 billion. roughly the cost of the s&l crisis. some financial crisis in the fall of 2008 we were repeatedly assured the fed had its strategy exit from a large expansion of the balance sheet to normalize the policy. yet the goal posts have been moved time and time again, now removed. today you have assured the committee once again, and i so appreciate your testimony, that the fed

it's called the sharing economy.eople with stuff that they are not using rent it to people who want it, and it has evolved into a $26 billion a year industry. everything from a $12,000 handbag that can be yours for an evening for 100 bucks, to a weekend surfboard, 2-hour lawn mower, or your very own dog for an afternoon. it's about monetizing your idle assets. two of the biggest are cars and houses. enter air b&b and lift. people rent out their homes and cars that they are not using. >> it was a little off putting at first, but once i tried it was great. b&b. >> ashley converted her basement apartment into an air b&b rental that is booked almost every night. >> pros, you meet really cool people from all over the world and maybe pay your mortgage. cons it sucks having to clean up after everybody. >> millions of square feet of office space are popping up all over the country. dave wineberg wents from a growing shared space company called we work. he says it offers him all of the perks with none of the risks. >> it allo

the economy has grown 2.1%. that is -- and the predictions of the congressional budget office is that it doesn't increase for the next five years. predictions, pat. >> crush holan socialist in the parliamentary elections in europe may 22 to 25th. >> eleanor. >> the secrecy around the drug cocktail used to execute people on death row, the secrecy will be lifted and a lot of people will be embarrassed. >> david. >> things are going to get much worse in ukraine. >> mort. >> i was just going to say that. putin will continue his special operations in ukraine until it gets to be a major crisis. >> i predict six months after the november elections, congress will move to ban the sale of guns to people with mental disorders. the national rifle association will be silent on the matter, thus showing yequiescense. bye bye. >>> next on kqed newsr transporting crude oil by rail is sparking safety concerns and pulling the rental map from air surface plus, a one on one with governor jerry brown. >> i'm john myers in sacramento,

today, archaeologists struggle to reconstruct the economies of the ancient world, because an economyis essential to any society, past or present. to understand the evolution of economies is to better understand people of all places and of all times. captions by captionamerica, pittsburgh, pa. funding for this program was provided by... for more information on t annenberg media ♪ by: narrador: bienvenidos al episodio 30 de destinos. primero, algunas escenas de este episodio. iay! iraquel! dormí mucho. sí, y te hizo bien. así estarás más descansada. ¿y roberto? todavía no se sabe nada. siguen trabajando. pero... ¿están seguros de que tiene suficiente aire? hombre: iroberto!

the economy? >> i think the economy is better than we think. we're a bit shell shocked. it has stabilized. europe doesn't look like it's falling apart. the government looks like it isn't going to shut down the economy. we're seeing unemployment come down, and some people, though long-term unemployed are coming back. this thing just doesn't go away overnight when you're xpeevs experienced what we have? >> start investing and hiring again would be great. >> i hope so. >> ken, good to see yyou. >>> what's the price of being cool? what apple is paying for beats, headphone and music streaming service started by rapper dr. dre and music's mogul jimmy iovene. this video appeared on facebook. >> billionaire boyz club for real, homey. huh? physic fix your face. fix your face. oh, the [ bleep ] forbes list just changed. >> tyrese gibson. don't forget about dre. despite beatz popularity, dissing the deal saying it doesn't make sense with apple. then again, polaroid didn't evolve from the camara and sony not from the walkman. the company bought 24 companies in the past 18 months. re

for the europeans, there is divisions within what he ate economies. -- within 28 economies. some like britain want to go whole hog. others like germany and italy and others are not so sure. it will boomerang back on their economies. >> germany is the key. >> germany is one key. we have chancellor merkel meeting with barack obama. that is the number one topic on their agenda, along with nsa and tapping her phone. year --did you say last [laughter] >> she may know what he is taking. >> let's talk about the effect on american economies. -- companies. is there any consideration to say, get out of russia? >> they are the ones doing outrage -- doing the outreach. i asked if companies are lobbying for less sanctions. the administration responded, we are going to them and asking them to rate -- cut their russian exposure. cut their russian exposure nine percent. the white house has been lobbying and getting success with major american companies and ceos were supposed to go to go to an economic conference sponsored by putin. some are pulling out entirely or reducing their delegations

india's economy is not an island, it's linked to the international economy. the international economy has just begun to recover. he'll have a honeymoon period where they have brought back growth. it remains to be seen when. growth has gone to 4.8%. reviving the economy is not going to be easy. >> he talked about corruption. how bad is it? >> it's bad. it will be a major challenge. coming from a man who spend so much funny at the elections, most of it coming from corporates. it remains to be seen whether his party, having spent so much funny, will not try to recover it, which means it could border on dubious. >> what do you think his biggest challenge will be what, is his biggest problem facing india. >> the biggest challenge is the economy. prices are high, inflation is high. corruption is high. yes, increasing growth rate, he has to attract foreign investment and sentiment. these are big challenges. >> how does he raise the poverty level in yinnedia -- india, to make people peel better. >> he talks about high growth rates taking care of the poor by pulling t

this is a must read on how to protect the global economy. so is another government directed depending plan going to help? >> no, david. you just asked the question that 1.3 billion who would you rather have the fun in the hands of? bureaucrats of venture capitalists. and they aren't putting that money to work because of regulations, taxation and uncertainly. we would have much more manufacturing and much more robust economy. >> rick, we had two experiments in coming out of the deep recession in the past 30 years. one in the 80s where you go through and look at the various years of growth in the 80s. the average coming out of the recession is 3.5% growth. the average out of this recession is basically flat. doesn't that show that the less government does the better? >> no, i don't know that that makes that statement at all. look, there's no arguing that this recession has been far more difficult to get out of than previous ones but i think that's the reality of life. some recessions are going to be worse than others. some actually reach the l

which economy do we believe in? st tax payers would be surprised to learn that a government-run bank takes their hard earned money and lend it out to china and russia. it also lends the money to the saudi arabia and the united emirates. independent even lends taxpayer money to the likes of the congo which has a history of human rights abuses. i doubt too many taxpayers would be proud of this. as many of you know they arguably serve the purpose of supporting u.s. jobs through the expansion of u.s. exports. supporters of the x.m. bank pushed forward ms. jenny fulton. i have no doubt she's a fine lady, a good businesswoman. i bet you she export as good pickle. but when it comes to dollars and not pickles ms. fulton and small business owners like her are a very small part of x.m. the real beneficiaries are the multibillion dollar corporations like g.m., ford and boeing. that's because more than 60% of their financing benefited just 10 large corporations last year. roughly half to business supports boeing aircrafts alone

the economy is think theing -- 47% economy is deteriorating. to some extent, there is an engineer slowdown. but what is worrying that is two things, corruption and the banking system. will asian stocks go up? that is mixed? the msci asia-pacific index, there we go. that one fairly divided equally. >> interesting to see what the investors are thinking. thank you for that. >> the other stories making headlines -- japanese consumers splurging on imported goods ahead of the sales tax increase. they slide into sustained deficit could make japan reliant. inmsung is set to be stable condition. he had trouble breathing. polling stations closing early and some parts of eastern ukraine as the referendum on greater autonomy amid tight security. the vote has been declared illegal by kiev and the west. 30%.ut said to be about 24 hours, theer treasurer will deliver his first budget and it is widely expected to be somewhat of a horror show. thousands of government jobs being cut. paul, where else is the ax likely to fall? it is pretty hard to discriminate. up

it's called the sharing economy. it's a new trust me era with internet start-ups teaching us to leave strangers. the executive editor joins me now from san francisco. good to see you jason. i think of the sharing economy as the opposite of the littageous economy where you can't let someone touch something without a massive legal agreement because they'll sue you if they slip in your house or car. >> yes and no, a big part of the systems. if you stay in someone's house and they don't turn the sheets down, you can give them a bad review and it could impact their future. it's amazing that we get into strangers cars and houses. all of these things we have been trained for decades not to do. >> part of this is efficiency. it's like the ebay. it's the idea that there's stuff wasting time at your house, you put it on ebay. everywhere wins. this is where some of this came from, excess capacity. you don't drive your car, you don't live in your house. why not get money for it. >> that's right. a lot of people wrote about the s

money into the economy.and i would bet that most americans with day that even if it cost me a little bit more, a nickel more on my hamburger, to give people like them a decent living, most americans would say that is fair. and here are her colleagues, back in the 19th century saying that we shouldn't do this. it's hard to believe. when you think of the 1890s in and the 1930s and how people struggle to get a decent life, the beauty of the 40s and 50s in the 60s and 70s and 80s. .. represent, it's flickering out and here we have a chance to at least have it lit up a little more, we say no, what is going on in america? so our colleagues are saying the economy isn't growing as fast as it should yet they don't want to pump money into the economy. our bill is a win-win. 73% of all americans, a majority of republicans, support a $10.10 wage increase. tim pawlenty, former governor tim pawlenty, former governor the former governor of minnesota told his colleagues support the wage. when you have a few small interest g

it is a big exporter and the german economy is an export-driven economy. it has similar problems that are hang overing the german economy. they had a strong first quarter. unexpected. we're going to see that moving into the second quarter. the things moving over, the things a the i.m.f. has been talking about, christine lagarde in berlin this week. what is going to happen to the ruble? problems with the ruble when it fell against the euro? what is going on with china? we have seen a slowdown in china. latin america is coming. obviously the world cup is coming up. latin american curn s.i. sis have been falling. it has an impact on any german company doing business in these regions, which is why i'm here. i'll be speaking during "the pulse" to the c.e.o. hopefully i think it is going to be quite an interesting interview. >> david, we look forward to that interview. david tweed there for us live at the adidas h.q. still with us for his views on today's market is the head of global clients at deutsche asset and wealth management. before we get into the nuts an

it will help our economy. we've heard these projections before, that every time we do this that it will kill jobs. it doesn't do that. look at the history. look at what's happened on the previous increases in the minimum wage. our economy has gotten stronger, it has grown stronger. so, madam president, it is time to give a raise to american workers. it's time to help a growing middle class. it is time that we give a fair shot to working families in america. i would urge my colleagues to vote to proceed on this debate. don't continue a filibuster. let's give america a fair shot and i urge my colleagues to support the motion to proceed. with that, madam president, i would yield the floor. mr. enzi: madam president? the presiding officer: the senator from wyoming. mr. enzi: thank you, madam president. i rise to offer rebuttal to the claims my colleagues on the other side of the aisle are making about their proposal to enact an unprecedented increase in federal minimum wage. i come at this issue from a former smal

i will grow the economy. you will get to go to ikea and travel to greece on vacations, but right now, what he has produced in his first term is an economy that is stagnant, on the verge of recession, and a lot of temporary patriotic fervor but not a lot of opportunity for the russian people. look at what happened when he started talking about closing down twitter. even his prime minister said it was crazy in the next generation of russians don't want to be cut off. if we stay unified and continue to offer a way to work with us, if he will live by the international rules of the road, but at the same time being firm in terms of cost of sanctions if he continues to be predatory vis-À-vis his neighbors -- >> that's part of the complaint. we talk about international law, the sanctity of borders, he does not believe us. why should he? >> the incidents that he raises are very different from circumstances where you have had years and years of u.s. security council resolutions, years and years of diplomacy to try and

it makes the economy of china look bigger.ut we are still bigger than china based on exchange rates. >> china may be an economic challenge. russia is a more nasty foreign-policy challenge. it just seems to get tenser. >> we had russia calling for an emergency meeting. i think this will be little more than a mudslinging match. separatists who are pro-russian, shooting down two helicopters and killing ukrainian troops. we see the situation escalating. despite the escalation of sanctions, the situation on the ground seems to get worse. we do not see putin changing. >> let's talk about sanctions. why not tougher sections? why not go after the big banks? ratchet them up right now? >> the u.s. administration says if we throw all sanctions out immediately, we keep nothing in our pocket. we need to drip them out little by little. we need to warn putin and get him to pull back from the brink. show him the cost of going further. for the europeans, there is division within 28 economies. some like britain want to go whole hog. more, harde

economy.t view is mistaken. >> u.s. attorney general eric holder met with the minister friday to discuss the investigation of swiss banks. credit suisse right now down three quarters of a percent. >>> still to come, head of the bank of england had a meeting this week. we'll look at the services economy. pmi number coming out. mber comi. >>> 40% slump in fixed income send barclays shares into the red and sets the seen for a structure shakeup thursday. mixed picture for swiss banks. ubs higher. credit suisse down after they will pay a bigger fine for the u.s. tax probe. >> and alston's bid unensl and focusing on getting better offers for the pirm. and japan's prime minister says the nation is now truly on the verge of moving out of deflation. >> for nearly 20 years, japan has suffered under deflation. deflation is a terrible demon. f >> services sector expanded at the fastest pace this year. services pmi up 058.7, strongest since december. it was 57.6 in march. and better than expected number of

will the real economy please stand up. today's big job numbers flying in the face of an anemic gdp and fire -- for the forecast. is the jobs market roaring back, or could have been a one-time snapback from a brutal winter? there are a lot of strong opinions on both sides of this issue. very important for wall street right now. we'll hear all the views and help you make sense of it. >> oh, yeah. >> also, the executive pay firestorm continues to burn. our becky quick is at ground zero of the dustup about coke's pay plan. speaking with both warren buffett which is coke's largest shareholder and david winters, the man who brought this issue to life. a lot still developing on this story. is coke backing off or not on that executive pay plan? becky will give us the very latest with bust-- with buffet and winters. >> boxing great floyd mayweather was supposed to be but cancelled at the last minute without a reason. i'm happy today, he says, i'm coming back and, boy, do we have a lot to talk about with mr. mayweather including the

the economy grew by 0.8%. the economy is driven by internal demand.k for its third consecutive weekly decline against the dollar. >> you know what is incredible? the euro has held up through the past four years. it really hasn't moved much despite everything we have gone through. let's get more on this from our david tweed.or, german business confidence data out this morning, declining. >> it did decline. i think that is an indication that although germany has been the powerhouse of the european economies, there is the potential weakness coming up ahead. that weakness is coming up. ryan has been talking about rush all morning. they're not wanting to make those hiring decisions. the interesting thing that that -- i'm notew with sure this indicates a change in trend. >> there is no mild water in europe its either hot or cold. there's diversions even between core european states such as france's service economy slowing. you're the expert, you're been covering the crisis since 2009. what are your big takeaways here? >> i think it is appropriate in a way t

last year, the fiscal cuts dragged down the economy, slowed the economy. things are looking much better this year. but it's still not that great. it's much better and better than the growth we had in the first quarter, but it's still not that great. >> steve, who predicted both the tech bubble and the housing bubble, says we're back in bubble territory. >> stocks are expensive, no doubt about that. when we look at the price of stocks relative to the earnings of the companies, trading at about 16 times the earnings, which is high, the long-term historic average. you do see bubbles around which you have a number of tech stocks that were high, twitter, for example. now they're starting to come down again. >> so if we look at the chart that schiller twitter puts out, one way to look at it, i suppose, zanny, how you look at how a stock is fairly valued, it's not nearly as bad as the tech bubble of '99, but it's kind of on the high side compared to the last century. >> i like steve's bubblets. we have big bubblets, if you will. the question is, how much do we ne

economy with more than half of americans working for or owning one.and a new survey showing a six and a half year high in optimism by small business owners raising a lot of hopes now for jobs and maybe even economic growth. hampton pearson has more. >> optimism among small business owners was at a post-recession high in april. but there is no sign small businesses nationwide are ready to take off. the closely watched optimism index from the national federation of independent businesses went above 95 last month. for the first time since the fall of 2007. but nfib chief says that it is just a modest gain in a still slow growth economy. >> it is not much of a breakout as we pointed out. the average of the index going into the recession was -- and that is over 40 years, was 100. so we're still five points below that mark. but progress is progress. >> among the success stories, z burger, its six locations in the greater washington, d.c. area has gross sales of more than two and a half million dollars a year. more locations are under way and just this week

economy on the move. maybe. today, ukraine tilts toward civil war, weighted with east/west tension. >> if, in fact mr. putin's goal is to allow the ukrainians to make their own decisions, then he is free to offer up his opinions, but it can't be done at the barrel of a gun. >> the u.s. ambassador to the ukraine, geoffery pyatt, joins us with a view from kiev. and then senator ron i don't knowson and congressman elliott engel join us on the choices for the obama administration. >>> with the u.s. creating more jobs than at any time in two years. >> these are all good middle class jobs. >> translating those numbers for main street with economists mark scannedie and steven moore and "new york times" reporter annie lowery. plus -- >> i was banning mr. sterling for life. >> race in america and renewed questions about benghazi. >> how many more taxpayer dollars are we going to spend trying to proof a political point? >> anna navarro, gren eiffel and dan in a brazile. this is "state of the union." good morning from wash

stephen, is this a recovering economy? >> for the past 15 years, a bipolar personality economy. you get some months where you get a nice buildup in the economy, and we've had 3% or 4% growth, then it tumbles again. that's been the pattern throughout really this five-year recovery. i would say for most americans they're still very worried. americans are -- there's still way too much unemployment and the real anxiety is among middle class people who have jobs. 90% of the americans who have jobbed that are very worried about losing them. >> i would argue 90% of americans don't have jobs. it's actually less. >> you may be right. >> let's not tear apart economic statistics. everyone will turn the channel. let me ask you this, austin. i worry about this caution. you have stocks hitting fresh record highs this week. look at the bond market. talking about caution they're seeing. ten-year treasury bell below 2.5%, a sign of weakness. what's happening here? why can't we get confident about the economy? >> you know, i agree with you. we should be worried about that. i think the main thing

economy. my next guests know a thing or two about creating jobs and growth. he served as the chairman and ceo for five years and ran chrysler for several years. bob is still leading and investing through his company. u.s. corporate tax rate stands at 35% and that has motivated some of the largest cooperations to park their money overseas in countries that grab much less of a tax bite than we do. as f last year, nearly $2 trillion has been stored outside of our borders. that's an increase from the year before. the top five are ge, microsoft, merk, and apple. the majority of fortune 500 companies permanently invest offshore and some have managed to avoid all taxes on profits. a u.s. company can also buy a smaller foreign one and reincorporate as a non-u.s. form to avoid u.s. taxes. pfizer could move to reincorporate in great britain if their deal goes through. and stem jobs, special visa jobs for science and engineering but some say there is no shortage of qualified americans for those posts. ev

economy, but also the u.s. economy and the world economy. if they went into free fall, we could have taken the united states into a depression. >> general motors became government motors. this guy was the turn around guy. he came in and literally saved this country and didn't need a taxpayer to do it. the company, i should say. >> people realize what trouble we are in. yeah, he turned around his company with better pot just better financing he helped streamline the portfolio and shed luxury brands so he could focus on the blue oval, the ford brand, himself. >> he's a legend there. a turn around guy. you think about tim cook's unlikely rise at apple. those have been relatively smooth so far. look back when jack welch left general electric. it was a game of thrones. you look at mark fields. he has taken over with ford. is he benefiting from those legendary big shoes to fill? or is that going to make it harder for him? >> one challenge i see for him is that allen mulally put together a culture change. ford has been a company of sharp elbows, in

our leverage is or economy against him. we are strong.gas station with a lot of corruption surrounding him. we can avoid a worse outcome. certainly we have to bolster nato, and we do now have some troops on the ground. europe ground, europe has to be on the ground just as much as we it's not going to turn out badly. you mentioned about the use of infusion of arms into the you can cranian forces. one reason of that is, a lot of his supporters are agreeing with him. if he made a case for it. i bet those poll numbers would turn around almost overnight. and presidents who lead, almost as a rule will have the public following him. but you've got to lead, you can't hit small balls and doubles, and that is not working too well. >> do you think he can lead public opinion on, we're not talking about -- even in the most activist signal here, all we're talking about is sending something more than meals ready to eat, military rations to the ukrainian soldiers. >> only one in six can find you can crane on a map. there's a lot they need to do. >> that'

economy. and the u.s. is what i think emerging markets around the world are realizing our economy would determine how quickly we pull out of this. everyone is looking towards us. europe is doing okay. a little bit better. as you said, the emerging markets which we saw turn down almost a year ago. now you are seeing the the results in gdp growth are still at a challenging rate with brazil and russia being the slowest growing within our market. china down 8% year over year. weakness there as well. >> no signs emerging markets have bottomed just yet then? >> it feels like it is flattening out, maria. some are doing better than they were one or two quarters ago. some are worse. but it's going at a negative number. >> john, we're expecting a huge deal to be announced tomorrow morning that at&t will acquire directv for $50 billion. this of course on top of the comcast acquisition of time warner cable. as you see telecom really consolidating around you, tell us what telecom technology and media and its conversion

economy? fourthly, is the fed reserve tank in center cisco said correct that higher federal -- san francisco correct? is there a better way for the spending side of the fiscal balances. are they willing to make their balance sheet more transparent? will they provide a consolidated list of holdings that has values in the average purchase price? as was the current market value push to mike with that, that is a lot of questions and you don't have to answer all of them by the way. [laughter] i look forward to your testimony. the record will be kept open for one week so members could submit additional records for the record. i yield to the vice chairman of the committee. .> thank you very much thank you for holding this timely hearing. i will only add 15 questions to is list. no, i won't. we have seen the impact that monetary policy can have on economic growth at a time when congress has been gridlocked and very important things. the fed has had to step in several times. we will be able to move ahe

economy, and the relationship between our two countries. still with us frank wisner ambassador to india. in our wit washington studio, aa ayres, and from new york, arvin professor of indian political economy at columbia university. mr. ambassador, if you read the foreign affairs journals, people who are in the know confidently talk about one of the reasons we need a stronger india is to be a counterweight to china. is it that much of a chess game that we need to prove that a country like india could pull itself up under the umbrella of democracy as a counter model to the top-down chinese administration? >> you know, frankly, i don't look at it that way. and i'm quite confident the indians don't, and pursuing a relationship with india as a foil to china i think will get our country into a whole lot of trouble. i believe that the right way to think about the future of asia is with a series of balances. you got india to the south, indonesia, the philippines, thailand, and then korea and japan, all of which are part, all of which are on good te

you are right that we were the only economy in the entire world that mattered in the 1950s. there was no reason to assume that would continue. there is every reason to assume the chinese will be a massive economy for a very long time to come, and they should be. shame on them if they are not. can we work on some of the issues that you address? yes, we can. and we will. >> i agree with -- >> suppose the chinese economic bubble does burst, and what does that mean for us? that means we lose the buyer of last resort for our debt. that's when we really have something to -- >> well, the earning season, guys, there are huge buyers for a lot of the products. but gary, you put forth the premise, the debt clock is the reason we should be worried and nobody else on the panel seems to be concerned? >> i will never argue the greatness of the people in this country, but when all is said and done, massive debt is hard for the economy, and it seems ton no big deal. $17 trillion, and you can can't compare the size of that now to when we went to war many years ago. nobody is doing anything ab