and the city is also looking to monetize this and make revenue. one of the biggest conversation pieces that came out of the talk and some of the questions from the crowd was opening up apis for transactions, permitting, reservations and those type of things, which would be an incredible influx of private industry working with governments and also providing incredible efficiency for the public to be able to make these transactions. i'll probably say that ian might want to talk more on this, but that would be something that would be highly encouraged from the private sector and from my company specifically. >> that's a great point. and i'll say the short answer to your question is the federal government is trying to not charge for this data. the way we did was with tax dollars. you already paid for it, we're trying to give it back to you. and, so, we take a wholesale retail. we want to be the providers of the data as a fuel, but fuel, gasoline is useless to get you from point a to point b unless you consume that ultimately drives value to the americ

and the city is also looking to monetize this and make revenue. one of the biggest conversation pieces that came out of the talk and some of the questions from the crowd was opening up apis for transactions, permitting, reservations and those type of things, which would be an incredible influx of private industry working with governments and also providing incredible efficiency for the public to be able to make these transactions. i'll probably say that ian might want to talk more on this, but that would be something that would be highly

debt and monetizing debt is basically you get into the realm of hyperinflation at the point you do now i think what keeps us from going into hyper inflation is that we just have very depressed economic activity at the moment and as the scenario you know we went through the double dip and i believe we'll probably go through trouble triple quadruple quintuple dip with yo-yo growth over the next three or four years building up from the micro economy which is really where i come in with this i don't really see industrial activity picking up the idea that we can just change away from being a finance and services based economy as simply as that i think is just a fallacious i mean the adjustment process once you take into account all of the lags you're looking at. at least a five year adjustment process so by fallacious you mean on camera and i was born engaged inflation yeah yeah quite probably i am i make no comment evolution is this and that's what i meant to say salaciousness the point about peter is a as we get into this you're talking about the rebalancing of the economy in saying oh ye

monetizing. monetizing. then there's the balance sheet. this may be the single most important point of the story. when jim took over mgm's balance sheet was hideous. it was just awful. in 2009 the company was in vital of its debt covenants. the company was given time to get its house in order. fast forward to earlier this month. mgm announced 4.8 billion refinance of debt. they replaced it with new lower rate senior notes and term limits. this is what you really look for. this is a huge, huge deal. okay. for caesar's i want to buy bonds but here i want to buy the common. mgm stock popped on the news of the refi. i think it puts a floor in the stock at ten and two bucks below where it is right now and they should pay $4 billion in debt in the next five years clearing up the balance sheet. let's talk about china. mgm owns 51% of the chinese subsidiary which is publicly traded on the hong kong stock exchange. they are one of only six companies that allows to operate casinos which is in the chinese las vegas but it's much, much bigger. we know

accosted monetise that's that's what we have whole cost holocaust holik cost us all as a cost they monetize that that's what they think they can every dead body and they put a price tag on it and it's on their books as their revenue stream so let's look at the policy response from the central bankers as you said at the top of the show monkeys where advanced above monkeys because we know the universe in which we live so here we're talking about glenn stevens he's the head of the australian reserve bank and he's looking at the westerners over here who he seems to be saying let's move over to the more same policies of the east he's looking at all the quantitative easing going on and now we have more and more around. cover up all the crimes and he says the problem will be the exit from these policies and the restoration of the distinction between fiscal and monetary policy with the appropriate disciplines and he says importantly what's going to happen is not only do we not know how to exit it but the whole fabric of the financial system the economic system the monkeys jumping around in the pool

i think yeah it's a big problem i would think because it leaves institutionalized legitimize and monetize terrorism as a mode of operetta business model you could argue you could argue that indeed are you going to fire to get are you. going the. way i was going to. happen ends up with your sunday afternoon we're. going to walk back on that statement. you can't you can all you the anyone that's engaged. anyone that uses and. currency is. saying the intent of its use and the intent of its use is not noble in the traditional sense of being a nobleman. ok let me ask you about this idea of inflation because the gun. but here in the u.k. and in the united states and elsewhere they say that inflation is not a problem it's on the radar deflation is really the problem and therefore we need more quantitative easing we're going to target nominal g.d.p. instead of inflation but if you expand your balance sheet by trillions of dollars or trillions of pounds isn't that where the inflation is residing at the same time america just announced that one of their big health insurer providers is upping costs

quantitative easing balance to the treasury account we are doing something that's tantamount to monetizing that that you know it's a by hand you mean dodgy all very good by dodgy you mean underhanded in scoundrel like i think hard to ask you know could i you know i'm going to be a little that's a little by little bit less diplomatically than i would usually put it but. it's a no no that i think we've course the line on going so you don't you move to up the dummy's economics for dummies so to explain walk through what's what the osborne has done over there the bank of england would be just taking on the interest to tell the people what's going on ok so what we've done is we've created a lot of money if you start to buy up long term government debt and the idea is by doing that we drive down the price of long term debts which enables credit markets to function at a lower price so all of all worries about lending start to melt away the returns to a normal path to problems problem number one is that it might it might be the case that i recapitalize my banks like that it doesn't necessarily mea

he has not figured out how to monetize it.hat was one of the drivers thinking he could get away with selling photos to the advertisers. look, the big furor this week was the collapse of 25% of instagram's users. they only had 16 million users and they went down to 12. that's less than 1% of -- yeah. >> -- facebook's users. >> netflix when they decided to go to a different pricing plan, they lost their users. let me probe companies that you think will be winners and why in 2013. take it away. >> first of all, i think we all have to focus on twitter, which has the big mo and is really, really getting traction right now with advertisers. the issue with trwitter, will they go public in 2013or at some point? i think you will see twitter as an ipo. the rest of the internet companies are all desperately trying to get to the year of viral and social media, that's 2013. you have google, netflix, amazon, yahoo. everybody is jumping into the social media pool but they're all trying to figure out a way to monetize it. >> the year of twitt

the other piece of that looking back to the example of weather and gps, my monetization, is that together they contribute $100 billion to the american economy last year. last year alone from just those two data liberations. so, that is the way in which we are approaching from a strategy perspective, the ultimate impact to our customers. >> one super quick. one thing the city of san francisco or big cities or federal, right, the other smaller cities, smaller cities have smaller budgets. having a structure to support all this open data takes a lot of money. so, when these small cities are thinking about this, they should think about a way of somehow equalizing because they are putting into having these open data team, right? so, what does make sense? this is kind of an open question to get your point of view. >> do you want to take that, shannon? >> i think that there is actually quite ah few examples. we can probably talk to this more with smaller cities that are making open data efforts. but what i would say is that it's proven more than the value of the investment. the return that we've

is monetizing?tizing is when a central bank buys the bonds that the government is selling, by printing money. that is exactly what ben bernanke is doing. the fed is buying 90% of the bonds the government is selling. and to say that it's not monetization, because at some point in the distant future he's going to sell the bonds that he's buying, sell them to who? how can it possibly be -- how could you sell trillions of dollars worth of treasuries and mortgage-backed securities? who's going to buy, at what price, if the fed ever tried to exit, it would create a financial crisis that would make 2008 look like a sunday school picnic. so the fed is going to print and print and print. it's going to make up one excuse after another why it's not going to stop, and the only thing that's going to put an end to this party is a collapse of the dollar, even against currencies like the euro. and it is coming. the dollar is going to be in free-fall one day. prices are going to sky rocket for consumer goods. it's u

french painters, including claude monet, were also intrigued by him.aw an exhibition of turner's works in london in the early 1870s and noted with approval that the english artist "painted with his eyes open." the impressionists admired his ability to capture luminous atmospheric effects. by the end of the 19th century, j.m.w. turner's dream was realized-- landscape painting was elevated to a level unthinkable without the contributions he had made in fifty years of painting.

in other words, monetizing something can be a way of recognizing it. look, the whole wages for housework movement was presented on precisely that. and my response is, yes, certainly that's true. and can the visibility and -- and the visibility and honor touched to those invisible tasks is enormously important. much of feminist scholarship is devoted to showing that. but something feels a little sad to me, that if we need to do it that way, is money the only way we've got to say something matters? i think it's -- if we want to transform the world within which we would be equal, maybe part of the transformation involves, um, elevating other forms of recognition that, um, are as powerful as money. >> i loved your talk like everyone else here did. my question for you is seeing some of the examples you give of people outsourcing their life, some of these things are people striving for status, striving for perfectionism, and it seems to me is that even if we had a better public sector, people would still be striving for these things. and the fact that people

do you think steve is right that we're just monetizing debt? >> let's start off with, no we were not surprised. we pretty much expected him to do what they ended up doing. i don't think --. melissa: targing unemployment rate? you thought they were going to do tt part? >> oh, yes, absolutely. the only issue what was the threshold they were going to pick. we pretty much guessed that it was coming basically. now, is it a good idea which is sort of fundamental question i think you guys are asking? maybe. i'm a bit of an agnostic. i'm not an atheist. i'm not a true believer. i'm an agnostic. i think reality is the various impact of qes have been small but slightly positive. it has not done a lot of damage yet but also not done a lot of good. so again as i said agnostic as far as, is it good. melissa: so steve, that begs the question, if we're doing it and doing it as nariman says it is doing a little bit of good and not that much, is there going to be a bill to pay down the road and when we get it we'll say here's the bill, was it worth it? >> that

they got a lot of traffic but monetizing -- ashley: access to there -- what china doesn't so you areting your audience. ashley: restricted to 1.3 billion people. not too bad. ashley: actually have access to it. ashley: a lot. listen, the same sort of phenomenon. the kids love it and how do you monotype is it? the story with facebook taking people's images, if tracy put a photo of me on her face book page does facebook go my photograph because she posted it? a lot of questions about how to monetizes but because the stock has come back i like the risk reward and lack of portrayed but anyone who likes it should consider 17.5. [talking over each other] ashley: we like when you bring this up. ashley: never understand china is a communist country but there is a massive growing middle-class spending money like crazy. charles: on that note when they get rid -- from the communist party -- a sine die will stick with the capitalist angle period. ashley: there you go. thank you. it is coming up to a quarter past the hour. time for stocks. nicole petallides on the floor of the stock exchange wher

i also think they'll be able to monetize identity going forward. i look at the gift program which i am quite bullish on as kind of their first attempt in that direction but i think you'll see many other products like that going forward. i've also heard from the -- our companies that are using facebook as an ad product that they're retargeting product which is a rather new product is actually starting to work really well. >> i know you are not exactly a stock picker in your former days you were obviously an analyst. i mean, when you look at facebook as well as you know the company, given the trajectory that it appears to be on after those dark days of the ipo, is this a stock that we're going to be talking about next year as eclipsing where it came out to wall street? do you foresee that kind of thing happening in the near future? >> i don't know if it is going to get to that level. i do think that a lot of the late stage private market was perturbed by the bubble that was happening out here in the private markets and i think that led to a price tha

and monet was meant to sort of help with the translation of that, ease the passage of all this. and at the end of this tirade apparently de gaulle who was in full uniform simply rose and put on his hat and saluted, and left the room. and churchill who had been absolutely infuriate add cording to monet slided back into his chair an simply said magnificent. >> rose: wait, magnificent in applause. >> applause. >> de gaulles theatre. >> the sense of theatre, in response to churchill's tirade was for him to walk out. >> rose: he so was appreciative of defall. >> there are two people, you know, who are famously opposed not get on and they had flaming rowe but there was a real sense of mutual respect between them because these were two men who hundreds of men stuck up for thane own. >> insomitiable spirit despice-- despite of the odds. >> indomitiable but patriotic. they respected each other even if they felt-- . >> rose: churchill respected fdr greatly and spent the war in trying to seduce him. >> that was a different sort of respect. >> a very different. >> because of the differentia

one of facebook's biggest challenges, of course, finding ways to monetize the business. now it may have found a new revenue stream, but will this outrage users? over to julia boorstin. >> reporter: facebook continues to look for new business models but this one could be very controversial with users. facebook is testing charging some of its use first they want to e-mail people they are not connected to. this is part of an overhaul of facebook's messaging system, adding new filters, and facebook calls this a small experience to test the signals of economic signals. what does it mean? it will charge fees starting at $1, and it's limiting the test to individuals rather than companies or brands, and in order for this not to feel like spam it's only allowing users to receive one paid message each week. now, investors may be happy that facebook's testing yet another way to make money, but messages that look like paid spam could really alienate users. scott, over to you. >> all right, julia. thanks so much. julia boorstin for us out in l.a. >>> up next, it's the closing countdo

mobility because a pc is smaller and you're not able to monetize mobility the way you can on your pc. you think they have gotten that figured out? >> i think they really have and that's a little problem for a lot of vendors looking out over the next couple of years. if you look at facebook, their mobile users were i think about 604 million last quarter. it was up over 60 year over year, and so that's far outpacing the revenue growth of the company which is about 32%. so this is -- if you think about it this way. at $38 a share, there were no mobile revenues, and that's the price it came public at. next year i think they could do 20 billion in mobile revenues out of a total revenue stream of 7 billion, and so that's a much different worry. in addition to that, think about that next year. they have facebook ad exchange. if you're inside fake. they can advertise within the facebook platform. they are gifting and hints them getting into search. a lot of positive drivers next year just from the things we know about like mobile revenues and ad-exchange gifting, and next career there could

, commodities mostly, continue to melt higher with the idea that the fed is going to continue to monetize its debt and supply excess reserves to the economy. > what about tax management? what are you seeing with investors and traders trying to avoid that fiscal cliff, although potentially that could happen next year? > > we have seen two big trades really, angie. first, last week gold came off about $50 an ounce. it was rumored that hedge funds specifically were exiting long positions ahead of year-end to meet both investor redemptions as well as a number of other tax-related issues. secondly, the corporate bond market has been very busy over the last couple of weeks. corporates are issuing debt at record low yields, turning around and using that capital to pay out special dividends to shareholders. costco and home depot have been two specific names that have used that capital structure, arbitrage, in order to reward shareholders ahead of year-end. we may see a bit more of it in the next few weeks. > good to have you on the show. that is john brady of rj o'brien. thanks. > > thank you. la

connection between irresponsible behavior i'll buy a major corporation and how that irresponsibility is monetized how it's capitalized how they basically thrive on their stock price which is tied to irresponsibility now you're raising money using crowd funding and we also have programs like strike the debt so financial activism in the interaction between finance and activism is really coming together in an interesting way your thoughts it's very interesting i mean there's no public support for filmmaking in the us so we're actually forced to resort to things like kickstarter it takes a lot of time it's a lot of work we'd rather be filmmaking but you know since there is no public support for filmmaking we have to do it that way that's ok we're doing ok and the example you mentioned where we managed to impersonate the dow chemical company on the twentieth anniversary of the bhopal catastrophe the world's largest industrial disaster for which dow chemical has met responsibility and we announced to the world that it was finally taking responsibility for this disaster and as you mentioned the dow stoc

for art, the museum that houses spectacular pieces by monet and for shopping, head to the merchandisian, and then grab your walking shoes and head to the champs-elysees, walking all the way up to the arc de triomphe and back down is a great way to work off a meal. and speaking of food, don't forget to buy a real baguette sandwich at a boulangerie or a crepe on the street. soon you'll feel like a native. alina cho, cnn, paris. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. 100 calories... i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and