s to give us a call total eighty five billion now will shoot expansion all well and good i think it's going to take more ok how much mark as you say that the fed is getting less and less bank for its back how much more if you had to put a number on it if you could if that's even possible. that is a possible i think i'm going to double that just for starters just to see if that worked honestly you know when i tracked this credible it started in the mid eighty's and it expanded very aggressively through that whole period of time if we just short of the credit bubbles having started in one nine hundred ninety eight which is giving it a very late start i think we have we doubled the total credit market that so that's an extra twenty six trillion that came in if it's a normal bubble that this was a credible we have to burst if we have to find a way to undo probably twenty trillion dollars worth of bad debt. into that story while there's a long way to go so looking at what the fed is dealing with the forty billion dollars in mortgage backed securities that it's buying with newly minted mone

excuse me combine that credit expansion with a more holistic view looking at global resource depletion and population growth and what are we looking at in terms of life after ludicrous speed well joining me now is chris martin said with his answer to that question he is author of the crash course and he joins us now thank you so much dr martens and verby on the show today laurent it's our pleasure to have you let's start with consumer credit because it was up for august more than forecast more than expected do you take this as a sign that consumers are really going to lever up again and the fed may be successful in reflating. you know a lot of that is being driven by student debt at this point i don't think the september and october or unusual months to see those student borrowing i don't know the fed is doing everything they can to get us back to the ludicrous speed i just don't think that we have the fuel airport that we really need to get us back you know it's nice that we maybe go to fewer stronger loans going and we're borrowing more for schools but but this isn't really the broad

as people age, during expansions, incomes grew persistently and steadily with the expansions of the 1970's, the 1980's, the 1990's, and then we hit 2000 and that stopped. the reason i thought about this is i have looked in the early part of 2004 when i became interested in what was happening to job creation, and i looked at what happened in the 2001 recession, the briefest and most mild recession in the post- war area, and we had lost more jobs than we had in much deeper recessions, and i adjusted for declining growth, and in fact, where as there was a general pattern of how many jobs you lost based on how deep the recession was in the recessions of the 1970's, the 1980's, and the 1990's, and this was six times as much, and we did not begin to create jobs again for two more years. we kept on declining after the recession ended four a year, and then after that it was creating private-sector jobs have -- half the rate, relative to growth. so, that was my first in sight into something different happening in the economy today. i used to talk about it in 2004 and 2005 with other economists an

you mentioned, is the next generation of transit expansion, does it involve subways? it could be a way to prioritize the remaining 3 billion. where we are in sftp develop analysis having completed a revenue estimate, and the calls for project, we have a sense of the needs both in operations and maintenance, in programs, and in capital projects. we have also conducted a san francisco's pacific project evaluationall of that will come together this fall in some draft financially-constrained sftp scenarios, but also scenarios that would look at what the vision would be for additional investment that is beyond existing revenue should they become available. we are about to enter into the face of public outreach, with the goal of bringing sftp to the board for adoption in the spring in parallel with that option of the sftp at the regional level. we want to hear from you as to how that 3.1 billion should they prioritize: operations and maintenance, programs, new projects, what kind of projects? wone tool that i would like to share with you are anyone watching is an online bud

the mid-life overhauls and expansion.this hasn't been constrained by available resources. >> seems like when it comes to, you know, making sure our fleet is well-managed and well-maintained, it's probably cost-effective to work on maintaining the existing fleet before purchasing new buses, new vehicles. so what is in the plan term of extending life of the existing vehicles? i don't see that being as discussed so much today. i think that is a real critical need we have within the mta. >> yes. well, part of the response is that it is partially driven by funding sources. one of the most cost-effective ways to maintain fleet reliability is replace the fleet at the end of its useful life. we have been -- >> based on funding sources or based on what is best practices? >> it is based on best practices. it's informed the policies that guide the funding allocations both at the federal level and at the regional level through fta and through the mtc. in the last several years we have had opportunities to get kind of one-time funding

we do a lot of expansion. people start small through the credit union and then want to go to the bank. we know we are limited. we cannot afford to give out a big loan. starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. the bank and credit union are similar. we do allow tax returns, projections. credit unions do not charge an additional loan or processing fee. processing time, on a small loan, -- consumer loans probably a few days. because we require a business plan, sometimes it takes longer. business plans take a while. especially bank statements. we need to see consistent income coming in. so far, a credit union delinquent rate is quite low because we are working with a client. we want to keep that low and as part of our mission. there is no application fee. if you are interested in an application or information, i have brochures, or you can give us a call. >> thank you. next is marked with wells fargo

being expansive, right?'s right. >> but two minutes of doing this, will make me better -- a better performer in the meeting? >> exactly. two minutes of having people pose in these expansive versus the contracted poses, lead it these hormonal changes. one of our favorites is what we call the ceo pose, where you sit down and put your legs up on the table. cross your ankles. >> i know one. >> that's right. >> so here you have, you know, you've got this real expansiveness. and this seems to be very effective at increasing testosterone and decreasing cortisol. >> it is time now to answer some of your business questions. larry and jessica are with us once again. the first one is about getting funding. >> when a business owner or venture capitalist is considering a major financial outlay, do you tend to go more with your gut or more with the data? which one do you lead off with? >> this is what you do, larry. so your gut or data? >> it start with my gut. if i'm interested in the company after a first meeting, i don

making clear population expansion opportunity states assurance of success overall rivals. the people of the country have long been instructed engaging and patriotic duty consisted and indulging in romantic pleasures. the efficacy was about to be put to the test. so now look at how war stories converged once the military contest got under way. throughout spring and summer of 1812 before the first action of the war, newspapers related reports of the emotional status of the army has of this was the best indicator. various article stated callback the troops are in fine spirits or that they are and high spirits and we feel confident of success. the men move on with spirit and alacrity. but the first confrontation with the british and did in the utter debacle. in the end the general surrendered 5,000 troops without firing a single shot. the country was not only shocked but certain emotion all shortcomings must of been to blame. to cause the national failure? neither the romantic patriots nor the fighters from the rank-and-file could be to blame. one man was held responsible. he

we have a whole expansion team. it's' private-public partnership. all partnering to make this thing happen. so what is our goals? is that location has changed dram itally and to work cost-effectively to stay onbudget and deliver the project. so this is the context of where we're looking at. it's right on the lines of new central subway. there will be a moscone stop. we have three separate buildings, south opened 32 years and north opened 20 years and moscone west opened a little over ten years ago. for the study looked at that whole area and looked at the three moscone sites and the two garages, 5th and missing the and the moscone garage between folsom and howard. one of the problems with moscone center it was built basically when the neighborhood was not what it is today. and it was built kind of in independent, isolated area to almost a suburban-type building in what has been a very urban area. we market san francisco as a pedestrian-friendly city and pedestrians are not allowed to walk around the moscone center in some areas. so we need to improv

and i have sponsored any number of bills that address the expansion of making it user for people with very busy lives who are probably operating sometimes in languages not their mother tongue to be able to cast a vote. we have seen across this country, the legislature is put in place, more and more hurtles so that people are disenfranchised and not able to get to the polls and we don't see that happening here in california. but certainly supported the same-day registration, on-line registration and unfortunately, these kinds of advancements, expansions of the voter franchise often pass on party-line votes. >> thank you. >> and what have you done or what will you do to encourage civic participation? >> what i have done is run in this race i ran four years ago and i am the chairman of the republican party and i am very active in my community as a first generation immigrant and encouraging people in the communities to register to vote and i think that the right to vote is the most precious right of a democracy and a citizen. i think that people don't vote despite the ease that occurs her

but rather about the zoo's planned expansion into what is now the open spaces of the park. >> the measure is written there are large loophole as louing for money to be used for expansion. >> zoo officials insist none of the money would go to fund the expansion, it's going ahead even if the measure fails.. >> california project was approved and is moving forward. measure a one is not a referendum on nolan park. it's about needs at the zoo, today. >> gene gregory is a long time member of the zoo and a neighbor and frequent visitor to the open space area. >> i'm just not convinced that we need extra taxations to help feed animals at the zoo. >> it looks like darth vader is getting a set of micky mouse ears. he took a walt disney company for $4 billion. disney confirmed episode 7 is in the works and may develop theme parks around star wars characters. abc 7 is owned by the disney company. >> the hurricane turned into a super storm. warning the cars in the path of that storm sandhya would co-make their way into dealerships in the country. >> and this is coming from edmonds.com saying they need

service expansion, additional service to address growth, to raise the level of repair of our roads, the programmatic improvements that the public is so interested in, the traffic calming, the pedestrian safety, the transportation enhancement types of investments, our expansion projects, increasing the capacity of our system to carry new trips. we are concluding a similar project evaluation process being conducted at the regional level that focus on san francisco projects. we will come back to you in future months with the results of this project performance evaluation. the purpose of this is to help aid in the prioritization process. the next step is to take the identified needs for state of good repair, the needs that we have, also what it would take to increase state of good repair levels, the needs and projected from there, investments in programs, and these to elks which are evaluated for performance and put those together into alternative financially constrained investment packages. * projects through 2030 as well as one or more vision scenarios. so, what would we invest in beyond

>> if you vote for expansion in gaming in. you would be voting for a sixth site to be located by a commission. and for table games. and some other expansions as well in terms of numbers of machines. >> so if you don't like gambling you should vote against question seven correct? >> yeah that would be your choice. >> okay now. if there is a weird premutation here what if it's awe proved statewide a-- approved statewide -- >> the bill that implements the gaming expansion is specifically says the legislative intent that if it's not approved in prince georges county it shouldn't be implemented. >> but however that is not binding. >> it's hard to imagine a commission going against legislative intent of the general assembly which creates the authority for the commission. >> so it's turned down but approved statewide. it won't be a new casino. >> very, very unlikely. plus i doubt locally the land use approval would occur either. let's leave with the two competing interests that is true. they are competing very heavily. >> now let's g

but there is probably something to do with the boston uncontrollable expansion of. the state's. dead sixteen plus really dollars you mention but i think this is. you know this is kind of the haymakers strategy that we see with boxes when they're kind of been they're going to be knocked around a little bit they're kind of getting desperate people are starting to realize that the judges are. you know they started to realize hey i don't think that we are as free as the you know as we're told that we are. and when i start looking for some. you know. so there's a model alternatives that don't involve a republican or a or a democratic super hero ok so i think the state is in sort of what we're going to see is a lot of clutches and we're going to see. you know as a as far as to fault send and trying to actual crisis upcoming i think we're going to see this brought into much much higher relief ok and real quickly before we go you mentioned the t.s.a. so i just have to ask you're in argentina you have a great story i'm told what can argentinians teach us americans who just go like sheep

the continent's wide open ground support of the demographic expansion even as the increasing u.s. populations enable the seizure and the settlement of new land. the resulting divergence in british versus attitudes towards the merits of population between the two nations on the eve of the war. and in fact president thomas jefferson was the architect of the doubling of the nation's land at the louisiana purchase objections directly in mind at the moment that he engineered the purchase. the u.s. formal possession of the region on december 30th of 1803 exactly one month later on february 1st, 1804 jefferson wrote a letter in which he confessed to, quote, giving the leisure moments to the perusal of his work on population. though careful to the acknowledged that his work was indeed one of, quote, sound logic, jefferson insisted that the english and's theories could not be applied to the united states. jefferson concluded to the contrary that in america, "of cnn's extent of on cultivated and fertile land enables everyone who will labor to very young so you don't have to delay marriage a

marriage and the baby carriage had a practical effect that was to foster spectacular population expansion. high rates of marriage and reproduction resulted in the exponential growth of the american population and this has significant implications for the nation's success in military contests, not only with the british but also with native americans. in an age when starting a family usually meant clearing a farm, enhancements in the size of the population and expansion of the territory of the nation went hand in hand. in fact although the united states won no changes in british policy as a result of the war the country did gain undisputed control of western lands that had once been claimed by indians. these were land that would soon be settled by whites and cultivated in substantial part by enslaved men and women. now what this means is that all members of the nation's populace, no matter their civic status, no matter whether they could vote for against a president, could assist in the process of settling and thereby securing the nation's lands. it was no casual choice of words then when m

i'm looking for continued expansion here in the states. continued expansion globally. people need to be positioned for that. we're going to see economic growth in the u.s., i think at least through 2014. i think the market is going to grind higher over the course of time. i think we'll see more volatility. but from point a to point b, point b being the end of 2013, i think the market's going to be higher than where it is right now by probably mid, single digits. you add dividends in there and you have a pretty good chance for return. >> it's good to see all of you. talk to you soon. >> thanks, guys. >>> is there any end in sight to these monday blues? bob pisani, do you have any answers? >> well, look, we've -- right near 4 1/2 year highs. so today you have to write off here. narrow trading range stock, 3-2 decline advancing stocks. one of the lightest volume days of the year. major indices, modest declines. we were in the 40-point range all day on the dow. transports outperforming industrials. weak sector here was the tech stocks. take a look at other major weak secto

and it started with the expansion in the 70s. the carter expansion. it was 76 to 79.they grew then by an average of about 2.8% a year. and then we looked at the reagan expansion from 1983 to 1989. and it grew in that. they were growing by 3.2% a year. then we looked at the 199 and the 1992 to 2000 expansion, and it grew they grew by 3.8% a year. it is all adjusted for inflation. then to test the proposition, which i had written about a lot, the basic economic conditions have changed in the last decade. something very distinct, we just had a significant effect on job creation and incomes, which has happened since 2000 and was not there before. and so we chatted in the 2002 to 2007 expansion and appalled to a happy% a year. 3.8, 3.2, 0.5. that is what the data says. as people age, expansions of the 80s and 90s, and then we get to the year 2000, where it stopped. i have looked in the early 2004 timeframe, and i became very interested and concerned about what was happening to job creation. and i looked at what had happened in the 2001 recession and the briefest benign rec

that the door for georgia to join nato is not closed and we should we think that any mechanical expansion of this military alliance that was in violation of the understanding we used to have about nato expansion in the one nine hundred eighty s. but if you would be counterproductive to go back up nicely especially in the case of georgia with disputes. once again this is not just russia's position this is a point of view shared by all member states by it and. so i think these developments with regard to georgia can only aggravate all the negative trends in the former post sorry territory. and let's not put an actual. practical in the same thing recently about the matter with the troops just a couple days ago and he said it i quote expansion of nato operations so those are a threat to our territory there and we need to neutralize these rats it's going to look at what are these threats to our territory that wouldn't talks about just one thing somebody may seize our territory you know how do you plan to neutralize that i think. he meant to say that we see military facilities and infrastructur

it commemorates one of the greatest victories in the dynastic expansion of dos pilas. you see here the king of seibal, stripped, bound, humiliated -- and he is being tortured and bled. the text records that he was decapitated here in the plaza area of dos pilas. and standing on him, the king of dos pilas, symbolizing the conquest by dos pilas of this very important city in the pasion river valley. keach: throughout maya history, kings have attempted to expand beyond the boundaries of their individual kingdoms. but these attempts were often short-lived or completely unsuccessful. would dos pilas prove the exception ? in the domain of dos pilas was punto de chimino, located on a peninsula jutting into lake petex patutun. here there's a break in it where it drops down into this little bay. keach: while surveying the region, demarest discovered that what at first looked like a natural ravine was in fact a manmade channel, a kind of moat, like those that encircled medieval castles. you can see where the moat was. originally, the water would have run all the way across to th

of the same thing recently he met with the troops just a couple days ago and he said it i quote expansion of nato operations so those are a threat to our territory and we need to neutralize these routes. what are these threats to our territory that wouldn't talks about just one thing somebody may seize our territory you know how do you plan to neutralize that i think. he meant to say that we see military facilities and infrastructure being set up the perimeter of member states so the new premier league russia and belarus we see forward operating bases being set up in bulgaria and romania we see missile defense installations being deployed with arms being supplied to georgia and so on but because nobody would set up a military infrastructure purpose if its military infrastructure is being set up for military purposes. which countries do they target are their objectives why would they spend hundreds of millions of dollars to set up new readers sites. it is men for protection against iran but we all know this is not true so i think this is what president putin meant our view is that need to

as expansion and its expanded reach has more to do with the fact that the government's broke and that the i.r.s. need to collect money or how much it has to do with a more general expansion and more general mission creep that has happened more broadly with the government whether we're talking about undeclared wars or spying on citizens be a patriot act that just gets reinstated without much of a discussion by lawmakers. that's a good point you know i think it's probably a little of both but you know the i.r.s. is one of the one of the violent probably along with the t.s.a. and it's in the dear chosen well it's one of the violence but it's a good competition for worst agency state but there is probably something to do with the boston uncontrollable experience of. this state's. sixteen plus really dollars you mentioned i think this is. you know this is kind of the haymakers strategy. we see with boxes when they're kind of being they're going to be knocked around a little bit they're kind of getting desperate people are starting to realize that geez are. you know this study is to realize

so, those are kind of our next steps primarily on the on-street, expansion of the on-street. we'll continue to look at these newer models and seek ways to get data from them, to get information about them, to talk to the other cities where they started to explore possibilities of pilots -- piloting them here, to see what can work and to see to the extent we have conflicts such as with existing parking policies, how we might resolve those. >> go ahead. >> i was just going to say that's pretty much what i had. as i mentioned before, knowing the director of environment is here and car sharing organizations are here as well, we're happy to answer questions. >> i have a couple questions. going back to that [speaker not understood] that you have up on the implementation of the timeline -- excuse me -- i was wondering if there are any specifics that you could also queue us on what is exactly legislative changes could possibly be. it might be too early for you to expand on this particular question. my second question is looking at one-way car sharing in implementation. >> yes. so, on