they study included in drug sales and six try to make the g.d.p. bad is that true you might have heard it on the kaiser where it was the same right as it is it well it's about ten billion pounds worth of activity so they include it they include heroin addiction and whatever this is often supposed to be when i was one i was operating at a loss really it was my i'll go in so much. that when i was in the heroin addict face nice it was shoddy well it was and several of our nation organize the heroin trade and the prostitution is going to include the g.d.p. so just as i go out the guy and the guy still basnet did exactly right your timing on this could have been worse much my concern is this only sings like when i was a kid i look at a t.v. says things like nasdaq g d p. c with at and i looked if my innocent child like minder said this is meaningless this is a meaningless solution then i grew up you would know this is going to love meaning you just understand it don't understand it and then now go a little bit older still it was just meaningless trickery an

they study clued in drugs ios and sex try to make the g.d.p. bad is that true you might have heard it on the kaiser where if they thought it was the same right as it well it's about ten billion pounds worth of activity so they include it they include there when the addiction and when and if this is often supposed to be when i was one i was operating at a loss really it was my i go in so much. that when i was in the hair and i think business it was shoddy well it was terrible already should organize a heroin trade and the prostitution is going to include the g.d.p. so she does i'm glad the guy and the guy still passed did exactly right your timing on this could have been worse much my concern is this all these things like when i was a kid i look at a t.v. says things like nasdaq g d p. c it out and i looked if my innocent child like minded said this is meaningless this is a meaningless solution then i grew up you would know this is going to love meaning you just understand it don't understand it and then now go a little bit older still it was just m

g.d.p. had risen but is bad down our poor levels of oil output and fears of another civil war the director of libya's first thing to hang believes the country is ripe for a new conflict the difficulty is whether or not. the chosen through the elections a respected boy by the collective will of the people whether militias or other on groups you know respect the outcomes of an actual electoral process there are definite symptoms and libya that could. you know result in civil conflict and complements troy's incompetence various militias and amongst various cities. though i would say that's a very very new want just conflict that it's it's mainly conflict over financial assets i wouldn't say it's a people who has people who are tired versus town all out on sloat and it wouldn't mimic the revolutionary violence that we saw or three years ago but i would say that there are some dangerous signs of the moment. meanwhile human rights watch is warning of dire abuses in libya every port based on interviews with detainees highlights widespread torture in the country's jails its author told us that i tell

g.d.p. targeting you do allow a temporary spike in inflation when there is a severe oil shock because that sort of cushions the blow on unemployment now i know that sounds bad for people worried about inflation but remember if we're targeting nominal g.d.p. growth at five percent on average we're only going to have about two percent inflation on average so the years where inflation is higher than it's normal like during an oil shock will be offset by years when it's lower than normal but again i reiterate the big problem in the late sixty's all through the seventy's was not just oil shocks but we let the trend rate of inflation get way too high so instead of going from two percent to four percent inflation we sometimes went from ten to during the oil shock years could well have a severe recession without the two thousand and eight financial crisis in europe and in. yes we could of in fact we've had have had severe recessions in the past without oil crises i'm sorry financial crises. but what i think happened there was the financial crisis was sort of the trigger but the deeper cause was a failure of monetary policy that is monetary policy didn't sufficientl

g.d.p. targeting you do allow a temporary spike in inflation when there is a severe oil shock because that sort of cushions the blow on unemployment now i know that sounds bad for people worried about inflation but remember if we're targeting nominal g.d.p. growth at five percent on average we're only going to have about two percent inflation on average so the years where inflation is higher than it's normal like during an oil shock will be offset by years when it's lower than normal but again i reiterate the big problem in the late sixty's all through the seventy's was not just oil shocks but we let the trend rate of inflation get way too high so instead of going from two percent to four percent inflation we sometimes went from ten to during the oil shock years when we had a severe recession without the two thousand and eight financial crisis in europe and in. yes we could of in fact we've had have had severe recessions in the past without oil crises i'm sorry financial crises. but what i think happened there was the financial crisis was sort of the trigger but the deeper cause was a failure of monetary policy that is monetary policy didn't sufficiently bo

g.d.p. targeting you do allow a temporary spike in inflation when there is a severe oil shock because that sort of cushions the blow on unemployment now i know that sounds bad for people worried about inflation but remember if we're targeting nominal g.d.p. growth at five percent on average we're only going to have about two percent inflation on average so the years where inflation is higher than it's normal like during an oil shock will be offset by years when it's lower than normal but again i reiterate the big problem in the late sixty's all through the seventy's was not just oil shocks but we let the trend rate of inflation get way too high so instead of going from two percent to four percent inflation we sometimes went from ten to during the oil shock years when we had a severe recession without the two thousand and eight financial crisis in europe and in. yes we could of in fact we've had have had severe recessions in the past without oil crises i'm sorry financial crises. but what i think happened there was the financial crisis was sort of the trigger but the deeper cause was a failure of monetary policy that is monetary policy didn't sufficiently bo

how many more bad g.d.p. numbers do need? how many more misses on all the projections that the economy is getting better, oh, we are going still tter, oh, we are the same. regulatory overreach on things like waters of the u.s., so many other programs out there coming out of the bureaucracy are crushing the expansion of this economy. my closing pretty simple here. if you care about the future, have the conversation and be willing to open up your mind and understand the math, even though it's uncomfortable, that the mandatory spending is consuming everything in its path. and if we don't deal with that, at the same time, we don't do everything we can to grow this economy, absolutely vigorously, it could be a very dark day in the future. yet, i'm incredibly optimistic at if we embrace the new hyperefficient economy and the new renaissance and start to understand the regulatory crur ing that has been going on right in front of us, if we deal with those and deal with them honestly, we have an amazing future and we are going to make

g.d.p. contracted first quarter which was a really bad weather period. >> it's not that big a deal but this is a very weak growth. very sub par. empolite is certainly sub par for a lot of americans. they look at the market hitting an all time high and say to themselves -- >> i'm not doing it -- >> right, going forward what i'm concerned about is our children. unemployment for kids, millennials is well over the national averages and they've taken on an enormous debt load, trying to get an education for jobs that simply aren't there, so we have work to do. >> david nelson and chief strategist, thanks so much for being with us. >> a show of solidarity for our three colleagues, journalists jailed in egypt. 17 countries journalists gathering to support them. their sentencing this week sparked international outrage. >> standing room only as diplomats and journalists packed into the united nations correspondence association to share frustration at conviction of three aljazeera journalists in egypt. already, 179 days in detention and facing years more after monday's sentencing in cairo. >> what we

g.d.p. capital expenditure and you take it down to thirty five percent you know you run a real risk of bad debt deflation could start to develop and then the you could get that hard landing so managing that is a very very challenging thing for the chinese they've been able to do it so far in the way i've described earlier they were effectively mobilized by the elephants with this within the state assumed a lot of the municipal and state debt and that's one of the reasons why you had this huge buildup and debt but how long could that go on i mean it's definitely not sustainable over the longer term but as i pointed out it could go on longer than people think it may be another two or three years before we see this hard landing that many people have been predicting for a while now earlier in the year we had a mini crisis in emerging markets and the slowdown in china was in part to blame but things have turned around quite a bit so what impact do you see the slowdown in china having on emerging markets and will there be a major crisis. well the slowdown has occurred already as a result of the slowd

bad, andrea. this is because of the underlying economy. when you're reporting on the g.d.p.h, how much we grou in the first quarter, remember those are the government numbers. goldman sachs came out with their own private numbers and said we contracted more by 2.3% in the first quarter. so the economy is not good and i will tell you where the democrats are going to point the strength and that's in the stock market. so be aware of that because we are, as of today, hitting record highs in the s&p 500 but that wasn't without government intervention. u.s. central bank has been pumping money into this economy and as such, the u.s. stock market has continued to hit record high after record high. they're currently getting out. that whole tapering thing has happened now so it's something to watch very closely because they will try to spin the stock market hides as they tout that as gret news for the economy but at the same time, unemployment is above 6% and arguably, our economy is shrinking by the day. >> i have just a quick question about -- and you're right. the government has it

analysis shows it's not a bad thing that this confidence on the flip side markets cannot sustain such overvaluation without a significant change in the economy and economic growth rates g.d.p. contracted at a one percent annual rate in the first quarter don't support the buying so the government and the too big to fail banks have removed all alternatives to you but to go into the market because at least there it looks like it's there are some gains that you might possibly have in order to compensate for the collapse in your income and the coming water cannon burst at your face right the alternatives being some vehicle where and by getting a savings rate that's the least equal to inflation but they've removed all the available savings programs by forcing interest rates to zero so people are getting a negative returns on their savings and without capital you cannot have capitalism and boris johnson is not a capitalist he's a hard dyed in the world communist socialist kleptocrat who supports cameron osborne who come from a similar economic school of let's create economic oppression take all the money from everybody and give it to our friends flying in from overseas to buy lon

is an indication of how bad it really is and how much worse it has really gotten so that the expectation at the political level is all this is all fine look everything's fixed g.d.p. is yet so with debts a little bit higher but we had to do it in order to fix these emergencies that we saw. and two thousand and eight but the reality is nothing has been fixed the debt is higher the average economies are lower and only the markets and the availability of cash to the larger players has increased as have their profits as have their bonuses bounce back you know i'm thinking of jimmy geithner in this context it reminds me a little bit of tony blair because tony blair you know he at the time of the iraq invasion he believed he was on a religious crusade that he was fighting evil now here we are in twenty fourteen rax imploding again as another war on the and people are beginning to resurface to think about tony blair going to the hague and facing the reality of the war crimes that he committed and that he should probably end up the same way as saddam hussein hung from that would be inappropriate and to his inglorious career tim geithner i think in five years time similar

bad now with the affordable care act, let's just say, well, compared to what? here's where we were three or four years ago. the country of japan spends 8 punish of their g.d.p. on -- 8 % of their g.d.p. on health care. we spend 18% or we did until recent lymprecently. the affordable care act, they get better results. higher rates of longevity, lower rates of infant mortality. higher rates than we did until just a couple of years ago. in japan, they cover everybody. until this year we had about 40 million people that did not have health care. i regret anybody who is disadvantaged because of the adoption of the affordable care act. i regret every one of those piesm regret awful those folks in this country, tens of millions of them, who didn't have access to health care. i regret the fact that all of people on medicare never got a second physical. if they had gotten one, they would have had a much better life. i really regret all the folks in the medicare prescription drug system, millions of folks who fell into the doughnut hole, stopped take their medicine, ended up in nursing hoarnlings cost a lot of money, died, not a happy lievment i feel bad for them. my