this we see what is documented in this graph where the growth of financial profits relative to g.d.p. far outpace is those of non-financial profits and this is in the ninety's and the two thousand so does this decoupling of financial and production profits occur in each of those cases that you mentioned of technological revolutions. just the poorer. you know one. person has done because there is a very interesting phenomenon which is what produces the bubble which is that even though finance has been has been funding the new technologies the installation especially the infrastructure. internet in this case what happens it is that so much money because it's so successful that everybody wants a piece of the action so you get so much excess money i do you get such interesting new technologies that we both technologies for nucingen finance the financial innovation and it's all this financial innovation which in part because we've got so you know start. that creates the bubble so this separation of financial profits from real profits because finance actually couples from the real economy there

far too much. the entire g.d.p. of afghanistan is $30 billion, less than a quarter of what we're spending year in and year out. the nation of afghanistan faces many tough challenges ahead, including economic development and the foundations of a civil society such as literacy, education, agriculture development and the empowerment of women. but these are not challenges but are merely military in nature. have them build their economy rather than relying on government contractors. i visited afghanistan twice over the course of this conflict and saw firsthand how our renewed attention to the region since 2009 and the counterinsurgency strategy developed by general petraeus has brought marked improvements in securing areas, in training security and police and establishing the rule of law and in developing local economies. perhaps most importantly, on a trip last march, i had a sense of optimism that was in afghanistan that was not there before and the afghans must son take over and govern their own nation. the time is no

g.d.p. has averaged 3 4.7% during the first nine months of the election year. so far, this year the average growth rate has been 1.75% as president obama approaches the november 6th election. how does he overcome those numbers? >> i think we see in the campaign to destroy the image mitt romney has created as a jobs creator. if he can make him unacceptable to enough voters he can squeak through. but these numbers are devastating for an incumbent. a lot of economists say the president has such waning numbers because his economic policies have created so much uncertainty, made so many people unwilling to create jobs. we have $3 trillion on capital on the sidelines, people looking at the regulatory climate, i'm not going to get involved in creating jobs. the president is staring at the largest tax increase in american history that is going to happen on december 31. with all of that uncertainty. voters are increasingly uncertain. >> heather: we should point out there have been presidents who have been elected with below normal growth, president bush being one have them. av

g.d.p. growth is the weakest of any recovery postworld war ii. the last quarter report was about a 1.9% increase over the prior quarter. in the area of job creation, the report for june as far as the number of jobs gained in the month, came out last week. in june we gained about 80,000 jobs. that is far short of the 150,000 jobs that we need to grow just each month just to keep up with population growth. and so now the president says that the solution is to raise taxes on our job creators. this week after the president's speech, as i said he gave that speech on monday, i received a letter from a small business owner in my home state of north dakota. i know this individual. in fact, he has a hardware store in bismarck, north dakota, and i've often gone there for items that i need when i'm working on my home. in fact, last year we had terrible flooding throughout the state of north dakota, in minot and other communities. my home was along the missouri that was in the way of the flood, so i often went over to his hardware store to get needed items. he runs a good business, good small business and is very helpful. but he sent me this letter after the president's speech on monda