george magnus.wer, the economy slowing again after a nearly two year stabilization, the likelihood that brazil can look to the commodities sector for help is pretty low. the than 24 hours ago, chinese premier was talking about the fact that he sees upside for the chinese economy and iron-ore rocketed on the back of it. , he think premier was making a big speech, an acceptance speech. he could not talk the economy down. we are looking at a china in which the financial, or the regulatory windstorm, as they call it, is having a material effect on the growth of nontraditional forms of funding. there was a report out from the china banking regulatory commission that the volume of wealth products into bank products had the biggest drop 10 in 10 years. it is beginning to have an effect and it will have knock on effects through the second half of this year. tom: the chinese credit impulse is waiting. how will this affect the u.s.? >> i'm not sure it has a huge effect. at this juncture, i think it's plausibl

still with us is george magnus. watchers have been warning about the dead burden for years -- the debt burden for years. you say china is that is funded. china's debt is funded. mr. magnus: can it get much bigger? or what level does gdp become critical? these things don't basically spell crisis. particularly not in a state owned banking system where bad loans can be extended. it they can be evergreen. the accounting regulations can be very opaque. so that bad debt doesn't necessarily have to be recognized or accounted for. so on and so forth. if you think back to the crisis that we had in the u.s. and u.k. 2008,rope in 2007 and basically, what precipitated the crisis wasn't necessarily the debt stock itself, but the banks suddenly dried up. we had leverage structures that would put in place and we had asset structures that people owned that suddenly became liquid. and when people lost confidence, the banks went liquid when everybody started selling. the china situation is not the similar. it is subprime in 2006, but

. >> will has his hands full with son, axel, mattias and magnus. ages 7 to 13. >> are you more of a relaxed dad or tough? >> i'm pretty laxed, but then all of a sudden, i go crazy. and they look at me, like -- whoa! where did that come from? i think it freaks them out a little bit. so they would say i'm the mean one. >> really? >> but on a chart i'm not as mean as their mom. their mom is always like put this i'm, like, don't worry about it, and i'm also, like, hey! watch it! >> i almost just start laughing. >> they sometimes laugh too. >> there is no doubt about that will's wife is the real deal. >> who cracks the whip in your house? >> come on, you know. my wife. >>> up next, as "bachelor in paradise" returns from scandal, are there strict new rules from contestants? the reported change from keeping the cast to get too drunk. >>> plus, a different eminem these days. how he changed as a parent. >>> and the "spider-man" stunt. >> oh, my god! >> we're going behind the scenes of the best viral video prank ever. >> get away from me. z2d1iz z16fz y2d1iy

camberwell and we are talking about kensington and chelsea we re talking about kensington and chelsea were magnusof the deep ironies of kensington and chelsea. i have done a quick calculation that the £10 million invested is not a cheap option. they should have been able to install the very best. whether the scheme was short—changed, whether there was over profiteering, isimply do whether there was over profiteering, i simply do not know, but it was not cheap to do and they should have been able to do it properly. in terms of the divisions in kensington and chelsea this is one of the ghastly tragedies. i hope that the borough, which is set —— secondly the second is not the first richest borough in the country, and huge divisions, will rise to the challenge. i hope this is not going to be just challenge. i hope this is not going to bejust a blame challenge. i hope this is not going to be just a blame time, challenge. i hope this is not going to bejust a blame time, blame challenge. i hope this is not going to be just a blame time, blame the te na nts, to be just a blame time, blame the tenants, th