interesting case study when it comes to economics and actually bob you yourself you spoke with john mauldin about the japanese economy no yes i certainly did earlier i spoke with john moulden author of the new book code red how to protect your savings from the coming crisis and i first asked him about the effects of deflation on the japanese economy here's what he said japan for all intents and purposes is. no longer is going to be able to go to the market to the world market and borrow money the central bank is locked in this as the central bank is going to become their barter blessed resort for the way. if i were to be. thank god i'm not. but if i were. and i had. the choices and the crises of the problems that he had to do the same thing i understand what he's done is he looked is that of choices and he had a disaster a disaster be uses to see they were all disasters there were no good choices and he chose disaster a which is the least painful to the japanese people that's what politicians do is that you're talking short term or long term both short term long term and that is to. export

joining us, john mauldin, millennium wave advisors president who saw his book actually for the first red" how to protect your save frogs the coming crisis. the crisis, thanks for being here, john, is all the money printing, we've never seen anything like it all over the world. not just the fed. all central banks are doing it. we've never seen anything like this before, so far not a great deal of effect. inflation has basically been under control. no change unfortunately unemployment, but you have a chapter, chapter 8, what will happen when it all goes wrong. what do you think happens when it goes wrong? >> well, let's rewind the tape and go to the beginning. in 2008, 2009, the fed was absolutely right to come in and say, we've got a crisis. we've got to fix this and to provide liquidity to do what they had to do. they put, brought the patient in. it was in trauma. it was bleeding. put him on morphine. let's get him where -- cheryl: talking about tarp? >> tarp, everything that they had to do. we never took him off morphine. he's still there and now, we talk about, well we'll take tape

indexes sorting out the effects of all they know next to seen charts the volatility in the yen and john mauldin joins us to weigh in on the dangers that lie ahead for the japanese economy lou and finally rich world talks about an emerging market hello.

indexes sorting out the effects of all they know next to seen charts the volatility in the yen and john mauldin joins us to weigh in on the dangers that lie ahead for the japanese economy lou and finally rich well talks about an emerging market political risk from the cold.