john layfield says that's not all it will help. what else? >> no.aid it over a year ago on fox. that the minute t election was over, this was going to be approved. that's exactly what's happening. this is only about 200 miles over the -- you have 25,000 miles of pipeline. it's a stupid argument, a political argument. this creas american jobs. we control the oil now instead of it going to asia. it wi lower oil prices worldwide over time >> christian, you see gas prices coming down with this? >> oh, goodness gracious no. even the owners and operators of the pipeline project acknowledge that the jobs created are only temporary jobs. while that's a nice boost, it's not a long-term boost. also, in terms of gas prices, this oil is destined for export to the global market, which is going to determine gas prices. this is going to be a drop in the bucket. it's not going to influence the global oil supply to a dree enough to lower gas prices at the pump. this is not a substitute for real energy policy john. >> gary b., it does increase supply, doesn't it? >>

layfield has it right. listen, if you have 100% of your assets in the stock market, you're cheering. how many people have 100% of their assets in the stock market? >> toby, john made a good point because all these she -- things going on in washington, the market doesn't care because as long as it's got uncle ben, as long as the fed keeps feeding this market and feeding this rally, it will keep going, won't it? >> the disconnect, no question, that the economy is not recovering. it's 50% less recovery than any other recovery we've had. but at the same time, in the last recoveries we had, we had inflation, we had normal interest rates. we have actually negative rates. people have to pay money to give money to the fed. when you put 85 billion a year, it's not only the americaned. it's the japanese. they're going to double their inflation rate. we have europe, almost every federal reserve creating this money. it has to go somewhere. what's intriguing is people know that bonds are too expensive because they've be

. >> i'm happy to introduce john layfield. we have some technical difficulties. he's with us. i know he's anxious to jump in on this. go ahead, john. >> that's because he's been getting audited. that's why. >> i have been getting audited. that's funny how that works. i spoke out about ama care, and i guess if i spoke for obama care, guess i wouldn't have been audited. texas is creating all the jobs and the tax is very low down here. look. this flat tax is right. you've got to take this irs out of the question. what they have done the last few years is absolutely criminal. it's not on some lower level. it is targeted. at they did with karl rove, with all the conservatives in the tea party. this was targeted and a political weapon. you ed to do away i with it. >> toby, that's to the point. this is not just about taxes. this w targeting a specific political group, and we've seen it, you know, for the last decade different types. >> i also found it interesti that the president mad the speech at ohio state a uple weeks ago saying how, you know, there's going to be people who tell y

. >> brenda: john layfield, with still stagnant wages, millions of people unemployed, is stimulus what we need right now? >> we have the biggest stimulus in history, brenda. we had to borrow 40 cents on every delay from somewhere overseas. we put a trillio dollars in this economy, you count the buy america bonds and stimulus plan, it's great quoting the numbers. the rea number is we have the lowest labor force participation rate since jimmy carter, 1979. we're going to throw more money at it. we're going to have more smoke and mirrors. we need a comprehensive plan. we're the only country that doesn't have a comprehensive plan. >> brenda: jonas, is spending more money good or bad for the economy? >> in a recession, it's good. the government can make jobs. tesla, which was just -- manufacturing jobs made with government loans for green energy. is tat a good use of taxpayer money? probably not. in fact, with the stock market at all-time high, i don't think it's the time to launch new stimulus programs. it's something you do in a crisis and save the next round of stimulus spending for such

and joining us now, john layfield and he often joins us and every time he's got the back drop, sun, sandn. you're in bermuda, that a tax haven? did you see penny there. >> it's not a tax haven, it's at reinsurance capital of the world. multi-billion dollar companies at that reinsure risk in tsunamis in japan to tornados in oklahoma and, in the bahamas more of-- you. stuart: you'veetalked up your real estate, well done. and one of your themes, you're a very successful investor. one of your themes is the shrinking american middle class. can you show me any evidence of that as it relates to company performance or profits? >> oh, absolutely. you look at what's going on, apparently, especially in the last six years, the poverty has just ballooned and tte rich are getting richer, poor are getting poorer. family dollar came out with great earnings and ralph lauren, great earnings and wal-mart, which is in the middle. people think it's lower middle class, but it's middle class is hurting, they came because of the payroll tax. it's because of the shift in spending in america, that's going, down s

let's stay on markets and bring in john layfield. this week we have been talking about the job that marissa mayer is doing at yahoo! and we thought on a strategist who said he wasn't impressed, what she's doing, she's going for attention, is not going to help the company, but i think you disagree? >> i he completely disagree. that's what they said about the deal with google and youtube. and they said the same thing about youtube as they say about t tumblr. that it's a small niche market, no way to monetize that market. and that they had a small percentage of porn on youtube at the time. they've kept. the founder of youtube and tumblr. marissa mayer was there when they bought youtube. microsoft is a wonderful company and they have not been able to develop anything other than xbox, other than incredible word that they have. they have just been returning this money to shareholders. to me, that's a waste of money and shows that you're a very uncreative and there's nothing else you can do. i think that marissa mayer is an absolute rock st