has been no one but it for a long time and and particularly in one nine hundred thirty eight john maynard keynes wrote the treatise his treatise on learning it which milton friedman thought was the best book and i agree and and he had this separation between state money state money is produced by a central bank and we call it high powered money or monetary base service you're looking at ams it's m. sub zero that state money and that accounts for about twenty percent of the money supply total money supply broadly measured in the united states the other trunk the they all of the room is bank money that's eighty percent in the united states and that's produced by banks commercial banks produce this element of the total money supply and i'm talking about m. so for as measured by the center for financial stability in new york that's that's a big broad measure of money and so or so there so the reason that the reason i said that schizophrenia because most people say oh the monetary policy has been very loose in a sense lehmann collapsed in two thousand and eight the federal reserves increased the stat

has been no one but it for a long time and and particularly in one nine hundred thirty eight john maynard keynes wrote the treatise his treatise on money and which milton friedman thought was best book and i agree and he had this separation between state money state money is produced by a central bank and we call it high powered money or monetary base surf you're looking at ams it's m. sub zero that state money and that accounts for about twenty percent of the money supply total money supply broadly measured in the united states the other trunk the they all of the room is bank money that's eighty percent in the united states and that's produced by banks commercial banks produce this element of the total money supply and i'm talking about m. so for as measured by the center for financial stability in new york that's that's a big broad measure of money and so or so there so the reason that the reason i said that schizophrenia because most people say oh the monetary policy has been very loose in a sense lehmann collapsed in two thousand and eight the federal reserves increased the state money by ab

it is base said economics and i hate to say about your own economist john maynard keynes said taxationgh-level we cannot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will rebound to neil: judge judy is on at the same time in our area. >> your reaction is way too visceral. this senate is a total obstacle to getting any of the matters done that you alluded to on air. but that doesn't mean that we shouldn't try. we are wasting time doing so. that is essentially what i am saying. would you please have an idea to sure thing? anyway, ron says, if you extrapolate the data come in tomorrow will be 30 degrees i

it is base said economics and i hate to say about your own economist john maynard keynes said taxation we cannot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will rebound to. neil: they did not. more after this. creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. [ female

has been no one but it for a long time and and particularly in one nine hundred thirty eight john maynard keynes wrote the treatise his treatise on learning it which milton friedman thought was the best book and i agree and he had this separation between state money state money is produced by a central bank and we call it high powered money or monetary base surf you're looking at ams it's m. sub zero that state money and that accounts for about twenty percent of the money supply total money supply broadly measured in the united states the other trunk the they all of the room is bank money that's eighty percent in the united states and that's produced by banks commercial banks produce this element of the total money supply and i'm talking about m sub four as measured by the center for financial stability in new york that's that's a big broad measure of money and so or so there so the reason that the reason i said that schizophrenia is most people say oh the monetary policy has been very loose in a sense lehmann collapsed in two thousand and eight the federal reserves increased the state money by

it is base said economics and i hate to say about your own economist john maynard keynes said taxatione cannot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will rebound to keeping a billion customers a year flying, means keeping seven billion transactions flowing. and when weather hits, it's data mayhem. but airlines running hp end-to-end solutions are always calm during a storm. so if your business deals with the unexpected, hp big data and cloud solutions make sure you always know what's coming - and are ready for it. make it matter. my dad has aor afib.brillation, he has the most common kind... ...i

it is base said economics and i hate to say about your own economist john maynard keynes said taxationvel we cannot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will rebound to my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. a

it is base said economics and i hate to say about your own economist john maynard keynes said taxationl we cannot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will >> >> drop dead. take some time off and relax for a full month and have a good time alex for tousing space your return. >> i will make sure you're not you're renner return. >> so what with the negative reaction in? somebody has to call them on the carpet. >> that is what i say. >> you are the man. the country is is going down in flames gimmick that was my point. a fantastic job building up politicians are doing nothing as people suffer. >> i

it is base said economics and i hate to say about your own economist john maynard keynes said taxationnot bear. even paul krug and 1998. >> i think that chart shows there was some fronts loading spending with the first quarter. >> what do you think it? >> exactly. japan has a big issue because the banks are forced to hold those government bonds and the scary thing is that banks are selling insurance on the bonds that they are buying. if they buy a bunch of houses then they have the issue. neil: you are brilliant but i did not understand that but then people are less inclined to buy when you hike the price. [laughter] >> but the economy will [ male announcer ] if you suffer from a dry mouth then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath? [ exhales deeply ] [ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry

. >> host: you mentioned in the book a couple of times john maynard keynes and the prediction in the 1920s of automation and technological advances would of course create fictional job loss and perhaps suffering. but over the long term, we would be so liberated from the drudgery of labor that we would have our creative processes free and live in the world of cultural abundance. say probably no way of imagining all of the variety of abundance that you've outlined here. and he seemed to say at the end that he was early. early. >> he wrote that essay to his grandchildren. everyone was pretty depressed about the depression and thought that there was a plunge to the bottom happening and he said i know everyone is depressed. and he said you are going to hear a new term called technology displacement, technological unemployment. he said this sounds like bad news but in the long-run it is good news because it is going to liberate the race. he said i can imagine in my grandchildren's generation people being able to be liberated from the toils in the jobs in blue-collar and white-collar jobs a

you mentioned the book a couple of times john maynard keynes and his prediction he made in the 1920s that automation and technological advances would have course create frictional job loss and perhaps suffering but over the long term we would be so liberated from the drudgery of labor that we would have our creative process is freed and we would live in a world in abundance. you probably had had no way of imagining the variety of abundance is we outlined that but you say keynes was not wrong. >> guest: he wrote that essay to his grandchildren in 1930. everyone was depressed about the depression and thought there was a plunge to the bottom half. he said you are going to hear new term called technology displacement with a large amount of employment. it machines -- means machines are replacing human beings more efficiently and cheaper. he said this sounds like bad news for the long run it's good news. let the machines do the work in and he said i can imagine my grandchildren's generation and great grandchildren's generations people being liberated from toil and jobs in blue-collar and w

one does not need to be cannes -- john maynard keynes to see this.hen i go to my gas station and i expect to see the guy changing the science will it hit this early? >> and once again the of messenger will go to the message because we will see prices reached the highest level since march 2013. it will not be apocalyptic but you will notice five or $0.10 and it is on what has occurred to from the of world oil price as well as what has happened for trading in the futures market. stuart: california is already $4 a gallon in those are big population centers. >> gans california ironically the uses of iraqi crude they have problems with southern california refineries where we will see the largest increase. but this is not another fuel apocalypse. we will see prices as high as they were in 2013 but we are much more insulated than three years ago during the first arab spring. a list of fighting moves south be looked at 75 million through $100 billion more per day skidway might have paid if things were peaceful there. stuart: tom kloza untimely appearance. a