our dna is no different than anybody in europe or asia. re not better people or created specially differently, how did this happen? it has to be freedom our founding documents. they perued excellence be the best you can be and you bring everybody in your family good light. now that's a crime. democratic party. that's a crime. obama said this taking tear of yourself it never worked it never has worked. >> it works better than anybody else. >> rush limbaugh says he knows what is wrong with our country. what is it? rush will tell you next. i remember the days before copd. my son and i never missed opening day. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps ificantly improve my lung function, srting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today m breathing beer, and at means... game on! symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort may inc

around thousands of years and yet we are a super power and our dna is no different than anybody in europe or asia are not better people. we are not created specially differently, more blessed, smarter, whatever. how did this happen? and it has to be freedom, our founding documents and has to be the notion that this is a nation built on self-reliance in pursuit of excellence. be the best you can be and you bring everybody in your family along with you when that happens. now, that is a crime. democratic party, that is a crime. obama said this business of taking care of yourself. we can't have that any more. looking after yourself doesn't work. it never has worked. it has. it worked better than anything else including anything he has tried. >> greta: straight ahead, rush says he knows exactly what is wrong with our country. what is it? rush will tell you, next. [ artis brown ] america is facing some tough challenges right now. two of the most important are energy security aneconomic growth. north america actually has one of the largest oil reserves in the world. a large part of that is oil sands. th

. >> so we shouldn't be surprised if here in the united states action and military bases in europe or asiacoming days? >> that's right. each base commander is well within his right to take additional security precautions. so people entering and leaving bases ought to leave extra time to make sure they can deal with any additional security measures. >> sometimes these warnings are released out of an abundance of caution, other times as you point out they're released because of the sbem jens, some specific reason that they find that they want to raise the threat level, shall we say. what you're saying is you're not sure yet whether this was simply done out of an abundance of caution or whether there was hard intelligence to warrant some kind of threat level increase. >> that's exactly right, wolf. we know about the threat for retaliation made by the taliban inside afghanistan. we haven't haeshd any public acknowledgement there is a specific credible threat against military bases at home or around the world, but it's reasonable given what we have seen and given the very strong reaction to the

getting back to that mode again and it isn't just how growth may affect our export market to europe or asian't the biggest issue. it's just the notion of weaker growth in general. you see it showing up in rates and rates overseas with spreads widening. we have a seven-year today, and jobless claims, everybody says that were down. but really they're still above 350. some seasonal revisions. back to you. >> okay. i've got to tell you. behind us, this is a very big deal. when you thing of millennial, what you should be thinking of is this whole shift away from your desk top from your ads to your internet to your cell phone. it's where everybody's going. this is a very exciting deal where a lot of money's going to be made. we've got to follow it all day. this is the sweet spot right now for internet advertising which is obviously taking a lot of share away from print and they have the secret sauce so those that want to have their ads seen on phones, they can do it. >> oil that remains range-bound, natural gas continues to fall sharply. keep in mind we do have the inventory data coming out at 10

whether it's in asia, europe or where it might be, people that will help us share the burden with thereedom willing countries. how we react, relate to the arab spring is important. that is a really big thing that's happening out there. again, we don't know what the final result of that's going to be. if the israeli egyptian peace treaty blows up you can forget about israeli palestinian deal. it's still very much up in the air. we don't know what's going to end up happening in libya, whether that's going to be a civil war or be something else. syria's a terrible problem now. so, but as far as the threat of terrorism, it doesn't just come from afghanistan. somalia, yemen and other places like that. >> last question. thanks whoever submitted this. why didn't you ever run for president? we think you would have been a great one. >> i thought about it. would have been 1996, but i had -- in the years just before that, i had done two stints as chief of staff in the white house for two different presidents. i'd been secretary to the treasury for four years, secretary of state for four years an

i think we need to make sure that the next generation of manufacturing takes root knot in asia or europe, but not -- but in pittsburgh, cleveland, and chicago. that is what i believe. [applause] i do not want this nation to be known just for buying and consuming things. i want us to be known for building and selling products all around the world. [applause] this is why i have said, let us stop rewarding businesses that ship jobs overseas. let us award companies that are creating jobs right here in the u.s. [applause] most americans agree. we should be making our schools the envy of the world. by the way, there is a chicago export named arne duncan who is doing unbelievable work at a national level. [applause] he understand, as i understand, that it starts with the man or woman at the front of the classroom. a good teacher can increase the lifetime earnings of a classroom by over $250,000. so, i do not want to hear washington either defend the status quo or spend all their time bashing teachers. we have been talking about giving schools at the resources they need to hire good teachers and

home stand or fact stephen london says washington needs a threat in the region to maintain its presence there. to go obama there's no matter whether he's in asia here in africa or in america. europe he is saber rattling he was complaining about other nations he was under is wrong with north korea or anybody else could be and seem to acknowledge he in this case north korea wants to launch a satellite could you imagine people which think country one of the largest arab wakes to washington would clean up the evolutionary that there are. new weapons they would be really developing one range missiles which they have all the difference in my article watching you will never win the korea north korea has been a target of war and it must take their game six zero or more tools to be in a speech if you want to go over the highway to cause the world. needs to. be the other way in the middle east is not be fair enough but of course there before are more the other here he said east asia he had one country murray and it just showed up sure i don't know that america is the troops we're ranes i believe in austria you know but twenty five hundred. per usual naval base. in korea koreans cruisers pe

russia or or has already provided the districts throughout america for its territory you know about that old granted by the same frames coming from europe into afghanistan for all the central asia besides americans has permission to fly or there are always nothing new i very much surprised why are every everybody suspicious or not of much interest in this new were here before for almost thirty years so we corporators americans to give them logistic transit into afghanistan and now would give them partially the same back but ones nothing special so what good but still has there been a change of attitude towards the q his base. well look first of all kid gives bays if you're stopping a problem on all smarmy it's so you sure between the government of kyrgyzstan and the united states of america they should start all the remember statement all the new president of korea stand that he is not going to prolong the conflict on that so. it's rather be. curious government wants to change sure the more the work aeration of these beasts want to have a calmer szell transit center or something like that well let's turn to another news i mean the the killing of the sixteen afghan afghan civili

to go obama doesn't matter whether he's in asia here in africa or in america europe but he is saber rattling he is complaining about other nations what offender is wrong with north korea or anybody else been saying that technology history's north korea wants to launch a satellite that he will manage an unstable western country want to launch a satellite there washington would clean up the polish or its their beards as the new weapons they would be really developing one range missiles we say have a leader in somalia i think well washington would never do that who korea north korea because they are tired of watching and it must take their game since the who are more tools i hope obama be in a speech if you want to go he highlighted to cries of the world where it needs to be presence be that of the middle east it's not being filled by enough little bubble was to be thought of more than the other here he said east asia he had one country and this show had a shot in all of that area is the existing troops were remains i believe in austria now twenty five hundred they believe a very controversial

took a lot there's no matter whether he's in asia here in africa or in america. europe is saber rattling he is complaining about other nations what the senator is wrong with north korea or anybody else didn't seem to acknowledge he has to use north korea wants to launch a satellite he could you imagine give all western countries one of the largest arab way to washington would clean up the evolution it's their. new weapon and it's really developing one range missiles which they have a leader in somalia i think or washington would never do that but a little korea north korea has no ties going toward and it must pay for their sins here or more tools obama being the speech if you want to go over the highway there are two kinds of the world. needs to be present in the middle east it's not the failed enough thought it was that people are more the other here he said east asia he had one country and then just showed another shot in all of that it's a very business name troops were rings i believe in austria you know zero twenty five hundred. per usual naval base. in korea korea

there's no matter whether he's in asia here in africa or in america or in europe if saber rattling here is complaining about other nations what happened here is wrong with north korea or anybody else it didn't seem that technology in this case north korea wants to launch a satellite but if you imagine if all western countries want to go on it is there a way they're watching deal with cleaning up the polish or it's the there are they're testing new weapons now they're really developing one range missiles which they have all the difference in what i think we're watching you would never knew there was north korea north korea has been a target it was and it must pay for their king says the who are more tools obama being the speech if you want to go over the highway there are two kinds of the world. needs a presence before the middle east it's not enough to last that people are more in the other here he said it was east asia he had one country and this charter shy and all of that america is positioning troops were remains i believe in austria you know oh twenty five hundred they believe very

there's no matter whether he's in asia here in africa or in america or in europe he is saber rattling he is complaining about other nations one corner is wrong with north korea or anybody else it didn't seem to acknowledge he has to use north korea wants to launch a satellite but he will manage an unstable western country one of the largest there a way to washington who would claim the polish or its their beards as the new weapon against the really developing one range missiles which they have a leader in somalia i think we're watching the women who korea north korea because they are tired of watching and it must pay for their sins the who are more tools obama being the speech if you want to go over the highway to to cause the world. needs to be present in. the middle east it's not the failed enough little bottle was there before our more the other here he said east asia he had one country in this show had another child in all of that america is there is this name troops were remains i believe in austria yes oh twenty five hundred they believe the period controversial me will be. in k

asia. the same as in here. but that does not mean that being concerned and interested by china, it does not mean you should forget europe or that we should forget america. there is room for both. in fact, i believe that it is good for us, americans and europeans, with china and asia and the emerging economies, to share notes, to compare these countries, how to bring these countries to take a larger share of responsibility in the way the world is governed today. i do not see a divorce between us and america. on the contrary, i see many in this town realizing that, while they have to focus and invest in china, they need to keep a very good relationship with europe. >> as we move to the end of this conversation, there is a problem that both the u.s. and europe have in common, and that is illegal immigration changing the nature of the society, the culture. what can we share? what can we learn about illegal immigration that we can share, or about immigration in general? yours is from eastern europe and north africa, ours is primarily from the south. >> we should make it clear discussion rigid distinction between illegal immigra

europe and asia. by the close, all of the major averages were down by about 1.5% or more. the dow tumbled 203 points, the nasdaq fell 40, and the s&p off almost 21 points. >> tom: after a big rally this year, some may think this sell- off has been just a matter of time, even as the u.s. economy seems to gathering steam. suzanne pratt reports from new york. >> reporter: the worry warts have reappeared on wall street. the dow had gone 45 trading sessions without closing with a triple-digit loss. that all came to an abrupt end today due to myriad factors across the globe, from slow growth in brazil to slower growth in china. but, once again, greece and it's financial mess topped everyone's list. >> i think, at this point, people realize we're really, really at the edge. i know we've said "really" before, so i'll add one more there to emphasize the fact that, if they miss a debt payment, there is no more money. there is not going to be any more assistance. >> reporter: what's impossible to determine is whether today's sell-off is just a hiccup for the stock market, or the begi

asia and europe is recognized. >> nice to see you again. i understand that today or yesterday there was an indication we would might up some kind of dialogue with north korea. i just checked, we gave north korea during the clinton administration over $1 billion in fuel and food aid as well as money we spent building their light water reactor. and of course they violated the agreement that they made. the only reason i bring that up, i hope that if we start a dialogue with them we realize their history is one of -- that you certainly can't trust. even though kim jong-il is gone and we have a new leader there, i think it's extremely important that the state department get everything written in blood, so to speak, to make sure we're not shafted again. recently stop tom donilan and the chairman of the joint chiefs went over to visit israel. the tone was, they were urging israel not to take any unilateral action as far as

all russia or has already provided not just extra american some for its territory you know about that of transit by the same trains coming from europe in prague honest gun for all the central asia besides americans has permission to fly all of the rusher so it's nothing new i very much surprised why our every everybody is suspicious or not of much interest at the least knew we were. there before four hundred thirty or so we called the return of the americans to give them logistic grounds it. gave them partially the same ones nothing special so but still has there been a change of attitude towards the cuties base. well no personal kid gives bass if you're spotting a problem on all smarmy it's between the government of kyrgyzstan and the united states of america. bishops are told remember straight on the new president of korea stand that he is not going to prolong the conflict on that so. it's rather be perhaps curious government wants to change sure there are more than welcome ration of these base want to have camo szell. santoro something like that well let's turn to another news i mean the killing of the sixteen again against civilians including children in their beds by a uni

europe, asia, even africa. the 9 million overseas filipinos are a diverse bunch. migrant workers, young and old, first generation adventuress orldren and grandchildren. despite many differences in their work and their educational background or lifestyles or in their country of residence, the global filipino is much the same. he is taken each -- conscientious worker, an opportunity-seeker, a courageous risk-taker willing to sacrifice for better future for their family. she is resilient and assimilates to the foreign land immediately. but in her heart, she cherishes the aspiration of one the recent -- returning him to the philippines. we are overseas filipinos ourselves. we live among the global filipinos to make our mission real and our dreams a reality. these global filipinos share their stories with us, the highs and lows, the joys and pains, the sacrifices they have made in the content -- continue to make for their families. and the hopes and dreams that keep them going every day. we're fortunate to be able to retell these stories and are honored to be welcomed into the homes of these global filipinos every night. every day

or something. >> the u.s. share is down considerably. interestingly europe is down much less than the u.s. or asia.d the market or missed our opportunities. i think that the u.s. economy right now has demonstrated enormous reserve and reservoir of strength and back bone. i was in london last week. i think there is a great respect for u.s. management, u.s. companies and the u.s. markets. so we are taking our time a little bit right now. i think that's okay. >> europe meanwhile, european financial institutions are down less than those of the u.s. in terms -- >> the m&a has softened less but there's a reason for that. there's a lot of defensive consolidation going on within european sectors and there's a bit of a fire sale in europe. governments are privatizing assets, everything is for sale in greece. the financial times noted asian banks are looking for acquisitions in europe. >> marshall, talk for a second about the restructuring sector. that's typically been a cyclical business. we view it more as a secular opportunity given the deleveraging. i've hired a pretty good team. >> i promised i wouldn't

asia and europe. in the u.s. when you have a corporation on the nyse or nasdaq, you are looking at 3% to 5%. >> thanks for the updateames lee, global internet and he just wrote one of the first notes on facebook. great to have you with us. how can you write a report without it going public at first. are bullish on the name and criticism in terms of the metrics that we know about from filings so far is the number of user that is it has and how it considers them. when you take a look at daily and monthly average users, the monthly may log in one time. how do we know the quality of the users? >> if you look at the daily active users and divide it, you can get a sense of how much they are coming back to the system. in north america, they are seeing that raidio being high. about 70%. in asia, it's lower at 50%. it shows that a lot of monthly users from facebook come back. >> you have a thought. by 2015 you expect facebook to have 45% of user share. what are the key factors driving that number? >> we will be looking at international market for facebook going forward. we are looking at 65 to 70% penetration for facebook al

asia is driven by seeking low-we labor. narrator: and the search for inexpensive labor has led companies like nike to china. compareditny parts of the wor such as america, europe orpan, du neng ji earns little-- the equivalent of just 80 u.s. dollars a month. however, by chinese standards, he and his fellow workers earn a healthy wage. the changes the new industry brings to china are dramatic. by the mid-1990s, more than half a million factories were at work in guangdong province. onop brown: it is an emerging, uh, ge growtcountry, uh, ve eiting. there's building going on everywhere. the whole province, the whole country, basically, is under construction. narrator: towering hotels and commercial buildings show china's ambition to play a key role on the world economic stage. narrator: towering hoin 2001, commercial after years of negotiation,ition china was admitted to the world trade organization, cementing its role as a player in the global economy. this nike factory, for example, ts in a chain of productn at stretches around the globe. orders for nike footwear are placed in its headquarters in beaverton, oregon, in the united states. complex communication syste

there's no matter whether he's in asia here in africa in america in europe but he is saber rattling he is complaining about other nations he was under is wrong with north korea or anybody else if they have seen it technology in this case north korea wants to launch a satellite so he will manage an unstable western country what it will want to say our way to washington would clean up the polish your head it's there not a beard to your chest beating you where it's really developing wong range missiles which they have a leader in sylmar you have to go watch he would never do that who korea north korea has been talking to watch and it must take a decade since the who are to hold balmy this week if you want to go over the highway the two cars of the world. need to establish a presence. in the middle east it's not a failed enough whole bottle was to be thought of more than the other here he said east asia he had one country murray and this showed up shy didn't know that america is issuing troops reins i believe in austria yes oh twenty five hundred they believe a very controversial naval base well he should asia you out in korea koreans crosas people most of our it's

i think we need to make sure that the next generation of manufacturing takes root knot in asia or europe, but not -- but in pittsburgh, cleveland, and chicago. that is what i believe. [applause] i do not want this nation to be known just for buying and consuming things. i want us to be known for building and selling products all around the world. [applause] this is why i have said, let us stop rewarding businesses that ship jobs overseas. let us award companies that are creating jobs right here in the u.s. [applause] most americans agree. we should be making our schools the envy of the world. by the way, there is a chicago export named arne duncan who is doing unbelievable work at a national level. [applause] he understand, as i understand, that it starts with the man or woman at the front of the classroom. a good teacher can increase the lifetime earnings of a classroom by over $250,000. so, i do not want to hear washington either defend the status quo or spend all their time bashing teachers. we have been talking about giving schools at the resources they need to hire good teachers and

he goes to bed at midnight or later and wakes up early to work with fellow scientists in asia and europeul opportunity to go to my office and to start working with the people who are awake in their office in the lab when it's 5:00 in the morning right here. >> reporter: scientists think history is full of short sleepers from ben franklin to bill clinton. they have very distinct, very good for them personalities. >> they're very energetic. very optimistic. they are resistant to failure. many of them are very successful. >> reporter: again short sleepers are rare. perhaps 1% of us or less. and that doesn't include people who sleep fewer hours during the week and then sleep in on weekends to catch up. they aren't short sleepers. they're just sleep deprived. and sleep deprivation, says new research is a root of a lot of bad news for our bodies. >> it's associated with cardiovascular disease, diabetes, mood. >> reporter: dr. nate watson is co-director of the university of washington sleep center in seattle. he says the metabolism of sleep deprivation makes it every dieters' nightmare. >> when

europe and from asia for high quality assets. and the ever clever u.s. financial firms figured out that they could take a variety of different kinds of underlying credits whether subprime mortgages or whatever and through the miracles of financial engineering they could create from that at least some securities that would be high quality, it would be rated aaa in which they could then sell abroad to other investors. unfortunately that sometimes left them with the remaining bad pieces which they kept or sold to some other financial firm. so there were trends in the financial markets, i think, including over confidence about their ability to manage those risks. a belief that house prices would probably keep rising. a sense that they could even after they made those mortgages they could then sell them off to somebody else and that that other person or other investor would be willing to acquire them. there was a big demand for quote safe assets. for all those reasons it was actually a very profitable activity while it lasted and only when the house prices began to fall did it become a big loser. yeah. [ inaudible ] >> it kind of remind me of the volcker rule because as i understand it

europe or latin america or africa. what we have recommended is that we built innovative partnerships and strengthen key alliances and partnerships in those areas. it makes -- the strategy makes clear that even though asia pacific and the middle east represent areas of growing strategic priority, the united states will strengthen its key alliances, nato, the other alliances that we have in the pacific build better partnerships. and one of the recommendations is to develop innovative ways such as rotational deployments using the marines, using the army, using special forces to sustain u.s. presence elsewhere in the world. fourthly, we need to insure that we can confront and defeat aggression from any adversary anywhere, any time. we have to have the capability

or outright deceptive, then sometimes candidates can experience a backlash from that particular ad. >> you spent some time overseas. so you had a chance to look at american politics from the vantage of europe and asia. how do they view this genre of ads? >> many people in other countries are completely mystified by american elections. they just see our elections as too personalistic, too negative in the tone, and not really giving voters enough choices. you know, sometimes our elections feature a sharp contrast between the left and the right, which then forces people to make a choice that is not very comfortable for them. most americans remain in the center of the political spectrum. but yet we often face false choices at election time. and i think particularly with advertising, people outside the united states worry that ads are going to lead americans to -- are basically a device to mislead americans in terms of how they end up voting. so they understand the united states is very powerful, that what happens in our elections have consequences. they have great worries about our election process and especially the role of media and money in that process. >> we pointed out in this class that 1996 was

mexico or some other place or the united states can put cheap energy in their -- in there with the natural gas. for the foreseeable future, it appears that natural gas in europe and asia is going to be four or five times what it is in the united states, giving us a tremendous advantage. so energy research, both in the government and in the private sector, has given the united states the advantage that, if truth be told, has been our advantage ever since world war ii. the reason we -- the principal reason that we have produced 25% of all the money in the world every year is because of the innovation, technology and research that has come since world war ii. and it's hard to think of an important advance in biological or physical -- physical sciences without support from -- from government research. so shale gas is one example of that. here's another example. i drive an all-electric nissan leaf and pay about $3 for the electricity to travel a hundred miles, better than spending an equivalent 20 miles on gasoline. now, researchers at battery maker envia have invented a way to double the density of lithium ion batteries, hastening the arrival of $20,000 cars that travel 3

regulations at as regulations are developed slowly in europe and the united states, take up speed as they enter markets like china or smaller markets in southeast asia because they can borrow the regulations and adjustment to their needs. is like mobile phones. you do not see a lot of land lines in developing countries and you do not see a problem with the development of regulations in those countries. you need to have the concern of overcoming suspicion. really emphasizing the principal of the scientist or you would say the simple regulation regulates best so that if you accomplish the goal without unnecessarily affecting the marketplace, you have the best possible regulation. we look at the need for emphasizing simple and straightforward regulatory policy. in terms of the gettysburg address -- 266 words given by abraham lincoln over a century and a half ago and lincoln is still remembered and many people in the united states and perhaps the world can recite the gettysburg address. there was a cabbage regulation in georgia that had 10 times that number of words i doubt anyone knows the words of that regulation. simple and straightforward as what we

very concerned about asia and china having a hard landing and not being able to manage a softer landing. and now it looks as europe is starting to sort of get their act together or at least it's less of a risk and less of a potential issue. china seems to have maneuvered a soft landing and economic trends seem to be getting better incrementally day by day. we take fear out of the market helping multiples at the same time corporations continue to do well. good profits and less risk. >> i agree with you on all of those issues and it seems sentiment is improving slightly. at the same time i go back to this question pretty much every day recently, the fact it still comes down here domestically to gdp growth. right now we're looking at first quarter around 2%, how are we going to hit the targets we want to hit? >> gdp will improve but slowly. first gdp will go from 2, 2.5 to 3. we are going through a long-term cycle of deleveraging in this country but corporate profits, 40% of them, come from outside the united states. you still have a lot of global demand and growth particularly in the development markets, not so much in europe but europe is not looking as bad as we

europe until that whole mess is cleared up, then stay in u.s. equities. equitys that have most of their revenue stream derived from isolationist areas such as the u.s. or asia, china specifically is a very, very attractive area to invest. >> and, peter, i think you're touching on something that at least in our view here on this show is very important because we've been highlighting this theme for the last few months, which has been the rest of the world's troubles. we had new data that shows home prices in many of the big cities in china are starting to rollover. we know what's happened in europe. and there is going to be a significant capital flight back to the united states. >> uh-huh. absolutely. but you also can't discount even though china is saying their growth is slowing, i mean, let's face it, 7%, 8% gdp growth rate is still a tremendously appealing growth rate. and i think a lot of investors are just looking at that headline saying it's slowing down. well, slowing down to say going from 80 miles an hour to 60 as a speed limit, you're still pretty fast. >> let's hope they can manage it in a smooth manner to engineer that soft landing that we all nee

europe, asia and latin america. in the first of several reports investors will see about the state of the housing market this week. reading of homebuilders sentiment remains unchanged in february orfrom february. it is optimistic sales will be picking up in the coming months. barbara, back to you. >> mary, thank you. >>> the key to your wardrobe this spring is going to be color. we understand. allison burkhart is here with some examples to show us. tell us how we are supposed to wear all of that color. sounds excited. >> it is exciting. >> i see you are wearing red. >> red is always good. white is always classic and black. >> i'm anxious hear the do's and don'ts of mixing the korls. >> everything is in. there's a lot of creative dressing going on for now. >> when you say that color is in, are we talking about pastels, hot, hot colors? p. >> more coming down the runway color blocking which is the simplest term. combining of two blocks of colors. now we see designers showing head to toe bold and dynamic looks combined. >> you brought models with youi. cool colors. >> cool colors. she's wearing not one but two important looks this season. we are showing the lightweight pattern, jack

europe and asia pacific. was there anything on an operational standpoint that they did or headwinds that they're now facing whenmes to commodity costs or labor costs or a down turn in the consumer in those regions? >> they've done a lot to the brand to drive the same store sales recently. remodels. and new product introductions. there's always skepticism if they're losing momentum. as we start to see slower numbers. the biggest concern is it was a miss. i'm not giving them a pass on that. and the impact to the earnings is undeniable. and i think will they tried to -- they're trying to temper the consensus estimates. we're a penny or two below consensus in 1 q and i think the street will come down in light of their comments about operating margin pressure in current environment given the slower top line trends, higher commodity costs and labor pressure, as well. >> we can't dismiss domestic was good. to what degree was weather a factor in that and secondly, are you going to move off of the price target of 108? >> weather i think was a factor. we didn't have a winter basically in the northeast. so that's helped o

or strength. >> entrepreneurial, a lot of traders have traded first. >> we now debate whether europe's in recession, asia'sind with regard to what your clients are experiencing regarding the u.s. economy? >> i think the biggest issue for them is the complexity. it's really regulation. they're overregulated. they've got all these new rules coming down the pipe. you have 1% of people, business owners doing the wrong thing and the 99% are paying for that. filling out paperwork instead of focusing on their business. if they could focus on their business and generate revenue, they could hire more employees and buy a home. >> how much time do you spend as a small business person dealing with compliance issue. >> it can go up to 100% for a couple of weeks at a time. >> give me a concrete example about how some of these issues let's take government regulation. just are are gruelling and distorting activities and something that should be more simple. >> well, i think the simplest one, the one that will appeal to people, if you have a college savings plan. in 2008, the rule was you could make one change a year. up t

and are developed slowly, markets in europe and the united states, they pick up speed as they enter markets like china or some of the smaller markets in southeast asia. they can borrow the regulations and adjust them to their needs. it is rather like mobile phones. you don't see a lot of land lines in developing countries. you don't see a real problem with developer edition development of countries. one thing that we see is that you need to have concern of overcoming suspicion. really emphasizing the principle -- the simplest regulation regulates that so that if you accomplish the goal without unnecessarily affecting the market marketplace, you have really got the best possible regulation. so we look at the need for the emphasizing of simple and straightforward regulatory policy. i think in terms of the

or surplus. and if we look farther beyond the north atlantic of the united states in western europe, then it's even less the case that there is a global crisis. after all, in asia developing asia, meaning india, china, southeast asia, economic growth rates are at unprecedentedly high levels of historical comparison. china has been growing, as you know, at a rate of about 10% per year, for more than three decades. that means a doubling every seven years. and even through recent years, china's economic growth is, right now, around 8% per year. india is a bit less. other countries in asia their aim around 6%, and in some cases higher. the world economic growth is about four-4.5% a year, which means the whole world economy is doubling roughly every 18 to 20 years right now, which is astounding for a world of 7 million people, and an average income worldwide of about $10,000 per capita. so $70 trillion world economy, expensing a doubling every generation, or even less. i have been attending the g20 meetings, each one, as part of the delegation of the secretary-general. and it's a very odd feeling, because most of the g20, from brazil to china to india, and elsewhere