the state of the economy with wells fargo chief economist john silvia. and later, silicon valley's love affair with failure. our reporters from dow jones venture wire deborah gage and tom jiles of "bloomberg business week" this week oppress press. good morning, everyone, i'm scott mcgrew. the housing market is recovering, or maybe it's not. inflation is a big worry, or possibly, it isn't, either. there's a lot of conflicting information out there about the economy about everything from the deficit to financial reform and a lot of so-called experts. now, when we have questions, we turn to the chief economist of one of the biggest banks in the nation, john silvia runs a team of economists for wells fargo. he's been named one of the best in the nation by both "bloomberg" and "usa today," joined by deborah gage of dow jones venture wire and tom jiles of "bloomberg business week." i don't think we can start any discussion without addressing japan first. this is a show that is pretaped before the sunday morning time slot, so things may have changed. >> yes. >>