i think mr. abe what he should do is that he should at least say what kind of importance he will take in his growth strategy. and he'll also have to show the time schedule of how he's going to realize his policy before the election. >> the japanese government has formlated its long-term economic and fiscal policies. the document states it should balance its budget by fiscal 2020 and even consider cutting social security costs to reduce the nation's snowballing debt. a government panel finalized this on thursday. the plan calls for achieving an average gross domestic product growth of about 3% in nominal terms and around 2% in real terms over the next decade. the plan expects the nation's per capita gross national income to increase by more than $15,000 in ten years. the government has be urged to have its primary balance deficit by 2015 and turn the balance into a surplus by fiscal 2020 as it has pledged. the plan specifies social security as an area where the government should consider cutting costs

so that is going to be post mr. abe's announcement. remember, the key problem in the japanese market has been that super longs have been selling off. another crux of the puzzle might be the china story. growth continues to dominate. we got spooked by the hsbc flash pmi and the final pmi would slip. today, growth stocks continue to slip. there seems to be a lot of concern gripping the steel sector. the extent of the slowdown and a lot of overcapacity seems to be quite pronounced to the extent that the steel industries average profit is only about 7 cents per ton and comments continue to come out even from the top chinelea chinesemaker e bao steel that second and third quarter there needs to be a lot of capacity cuts. how that translates into australia could be interesting given where australia stands and certainly no surprise that the rba kept the door open for easing. but not much reaction in terms of the market or at least the australian dollar at least in the asian session. back to you. >> thanks for that. >>> the sign that the turki

. >> i think in japan mr. ab a have proven that they are listening to the market. what is happening is you're seeing an unwind of the trade. when you see the merging market currencies and a lot of higher yielding countries their spreads are blowing out. japan can't do this. i don't agree that that's the case. this is a structural not a trade but a structural shift for these guys. they have made this clear but the pain and the volatility coming out of japan has hit our shores. there's no question it's hitting but i don't think the world is going to on end. when you see the australia dollar, the yen, this is painful and for a lot of people they're the wrong way. >> i'm sitting at home and i'm hearing that this global turmoil is coming to our shores, the world may not be coming to an end and yet here i am sitting in equities and feeling the pain. what do i do here? >> you have to own what you are comfortable taking the risk. the markets come in and bounce back. watch that level. blow that 1580 is really where you draw the line in the sand. if we break through that the

with the dollar/yen, following what's going on with mr. abeto 99.49 a little bit earlier. we're currently at 99.84, a little bit up from that, and you heard there chloe talking about the weaker-than-expected australian gdp, keeping the pressure on the aussie/dollar. sterling up at the highest of the day following services pmi 1.5355. as we look at asset prices here, we keep swinging around on fed talk. the dallas fed president, richard fisher, says the fed is poised to evaluate its bond-buying program and possibly make changes. speaking in toronto last night, he says the plot thickens and he likens developments in fed policy to a shakespearian play, starring ben bernanke as a daring captain steering the ship of the u.s. economy. he says act four is just beginning and it will involve the drama of introspection. fisher is, as we know, a longtime critic of qe-3, but he didn't repeat his call for the fed to cut back immediately on its asset purchases. at the same time, the deutsche bank co-ceo says the lender is prepared for an end to qe. speaking

mr. abe. >> -- mr. abe is no exception on that point. they have to rely on the bureaucrat circumstance on the bureaucrats. if you ask the finance ministry to lower taxes when they have a problem with their tax revenue it's going a very difficult task. that's a long term question people are asking. >> you say strategists expect the pull back to continue for two to three more weeks. what signals are they looking for to stabilize the market? >> i think most people are expecting the earnings to come forward in the next three weeks or so, we'll be hearing first quarter numbers from many corporate in japan. they say when those numbers start to confirm that economic recovery in japan is really starting to pick up and we see some of the numbers come out in terms of spending here in japan after that, i think right now we only have the growth data which is pretty impressive. but we need to hear consumption which is picking up continue and the profitability continuing as well. >> there was a fast move up. 50% retracements are not to say it's going

mr. abe is speaking tonight.e is going to be laying out the third part of his structural growth plan. longer term we have to see ex-cuing on the plan for japan to keep going. the big sell-off we got in japan the last couple of weeks of may, a lot of that appears to be rebalancing by the pension funds. since then we have seen japan say guys, maybe you don't need to rebalance quite so strictly. maybe we can be a little flexible in our portfolios that would mean less month-end selling if the nikkei goes up for the japanese funds, which would reduce the volatility in the market, i think people more comfortable holding on to the positions. >> you also see nikkei higher, yen lower? >> yes. the breakout here through 11,500 broke a long-term downtrend from the 1990 peak. and if you extend the basing process you could actually argue about a 12-year base taking place. yes, it went up parabolically to 14,000. so it needs to digest those gains, pull back, whether it comes back to 13,000, a little bit more, the 38.2 fibonacci

mr. president, a couple of us are going to come down here to the floor and talk ab >> mr. president, number of us are going to talk about an action that was taken in the house yesterday with all the issues that we have to confront, whether it is continuing the economic recovery and job creation, dealing with immigration, like we're trying to do here in the senate, dealing with going to conference on the budget, which chairman murray has been pushing for it day after day after day, you would think that the house would take up one of those matters. but instead, what do they do you an extreme anti- choice bill. clearly they have not learned anything when voters rejected their efforts to defund planned parenthood, restrict women's access to birth control, and/or event of care for women and families. so the debate that they had in the house yesterday echoes of last year when republicans talked about "legitimate rat pregnancy as a "gift from god." the incident from premises of pe was "very low," and assertion that is flatly contradicted by the facts. my colleague senator murray

mr. lee cited we don't certificate establishments, it is voluntary and not mandatory, there is a bill in the sacramento, ab 1147 that would require an exam, and it will also authority the cities to issue revocable registrations and i see in the proposal that you have and you are proposing that the establishment where everyone was certified, and would register that everyone was certified. you could take this a step further and many cities already doing this, and even though it is not a statute and the cmatc is not opposing issuing city ordinances requiring a revocable registration and talk to ogo before he was transferred and had called to me one day about an establishment that the city went into and found several and they had opened under the premises that they were exempt from the establishment regulation and the city went in and had the people working there who were not certified and the owner said that we will get them certified now. well with an establishment or with a revocable registration, we could have refused to allow that person to open. and so cities are using that, that is in the statute, and n

mr. price's solution? >> i think it's important for us to put ab array of options out there. so that, for example, the large solution to all of this and our bucket woe and deficit woe is entitlement reform. so the solutions that we put forward in our budget for medicare and medicaid, i think, are something we could emigres -- embrace in a context of a get ceiling discussion that would get significant resources to be able to talk about and put on the table. that's kind of a long ball, that wasn't possible. then pro-growth tax reform, i think is the -- we think is the kind of things that need get the economy rolling again. getting jobs being created. solving the incredible challenges that are out there from a financial standpoint for families. that would get you a little less,ic in term of the debt ceiling increase. but would move us in the right direction. finally, you can get back to the dollar for dollar baseballer rule. whether it's in deficit reduction or spending reduction. i think an array of options is important to does so that -- we're trying to be the ones moving the

mr. chairman, and i'm so glad we're here today having a hearing on ab issue -- an issue that, clearly, cuts across party lines. while it clearly impacts families and communities across our nation, it also affects our health care system. however, i want to make sure that efforts to address this issue, important as they are, do not cause other problems, especially those for, regarding people with chronic pain. this is a delicate balancing act in way. in a way. americans' struggle with pain has been an important issue for me for many years. in 2007 i introduced the national pain care policy act and was pleased to see that part of it was included with the affordable care act. as a result, the institute of medicine was directed to do a study on pain, and what they found is that pain is the most common reason people seek medical care. over 116 million u.s. adults suffer from chronic pain. the severity, duration and disabling consequences of pain vary from person to person as does the response to treatment. but pain accompanies a range of other clinical conditions as all of you know, including can