lou: john lonski thank you, we appreciate it. >> new reports city nationwide are doing away with redht cameras. among concerns about the red lights, what they really amount to, their worth. their invasiveness, what they increase traffic accidents. usage of these cameras has fallen. by 6% since 2012. 7 states now ban them. i think this is a plow for right to privacy, and drivers like me. we're coming right back. >> he won the iowa caucus in 2008, golfe governor huckabee is leading g.o.p. there again, will he run or won't he? my compare on why the camp tax reform plan is not a sure fire deal for economic growth and job creation. had to do something. had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we tked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in mo men. axiron is not for use women or anye younger than 18 or menith prostate or breast cancer. women, especlly those who ar or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children o

lou: john lonski thank you, we apprecte >> new reports city nationwide are doing away with red lightameras. among concerns about the red lights, what they really amount to, their worth. their invasiveness, what they increase traffic accidents. usage of these cameras has fallen. by 6% since 2012. 7 states now ban them. i think this is alowor right to privacy, and drivers like me. we're coming right back. >> heon the iowa caucus in 2008, golfe governor huckabee is leading g.o.p. tre again, will he run or won't he? my comre on w the camp tax reform plan is not a sure fire and it has beenactively campaigning in iowa eight years ago. and so it is encouraging. d so it made me feel a little bit better. and how does that mean ther is a convoluted piece of syntax. >> that is a setup. it's a real set out. t the fact is that here is the thing. i think we have to wait until the 2014 elections are over before anyone jumps out and says that i'm going to run for something in 2016. so yes, it is encourang. and it's n enough to say that that is eough heard so you better be prepred for when you're act

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john lonski, moody's capital market group chief economist. thanks for being here this morning.e the markets take off yesterday. we're back to levels close to where we ended the year. what do you think happens now? >> inge everybody has to take a deep breath back. the markets try to be binary, right? and it's not that simple. so i think now investors have to take a test back to their kind of risk levels and say how did i feel in january? i think we're going to -- >> do you think the declines that we saw at the beginning of the year were the head fake or do you think this is the head fake coming back up? >> i think the decline was a necessary head fake. and i think now we're going to get back up to our head above water. we're still sticking with the premise that we can see 1930 in the s&p by the end of the year. but it's going to be lumpy. >> 1930 by the end of the year, that's not a target in terms of gains from tend of last year. >> no, but 8% or 9% for where in the high net worth space with clients that have a 4% to 5% spend rate is a decent year after the year we came up last

and john lonski, moody's chief financial markets. my question is not whether i should hold my stocks because everybody knows we're not going to sell our stocks amid all this craziness. my question is whether i'm supposed to buy stocks right now. >> my answer would be no. i would wait for some clear signs that the market has stabilized. >> if it's stabilized, then i'm too late. >> then you're trying to be too cute by trying to time the bottom. why try to catch the falling knight using that tired cliche. >> where are you on this, mr. purple tie? >> andrew, i would say more people have more stocks than what they need to begin with. >> oversupposed. >> they're oversupposed from the beginning. people don't know why the stock market rose 32% last year. it's basically the same as saying stocks went up because stocks went up. >> how much more do we have to go, then? and what gets us there? >> that is fair value? we're trading at 17 times earnings. there's heavidy projections. are we going to hit 115, 120 earnings per share on the s&p 500. i