one of the main things that is wrong is we are still trying to deal with what they call overleveraging. too much debt in the society. but the other thing, frankly is we miss judged and missical clade the -- miscalculated the fiscal stimulus. it was badly hurt structured and that did not give the economy the jolt it needed. >> you are talking about the public debt, which is $16.5 trillion? >> that's right. that is a huge amount of money, even for an economy like the united states. a stimulus program in the form of money try stimulus tends to benefit you in the short run, then the interest on the money begins to be a depressant. we are going to get to that point very soon and monetary policy is not going to be effected. >> bernancke has made a huge shift here. now instead of worrying about inflation he decided unemployment is the biggest problem facing this society. he is saying he is going to take this action now, may take it the next month or the month after. he is now committed to getting this economy off the ground. i would argue with you we haven't made any progress, we did get save

protect against those ills that destabilize our economy in recent years-- like predatory lending, overleveraged financial institutions and the unchecked avarice of the past that trumped fairness and common sense our platform calls for significant cuts in federal spending. our platform calls for balanced deficit reduction plan where everyone-- everyone-- from elected officials to the wealthy and the super wealthy pay their fair share. (cheers and applause) >> ifill: of course, cory booker is one of the rising stars of this party and he's still speaking behind us because people are so excited about what he has to say. if you want to hear more of what mayor booker has to say, it's on our live stream. david, he talked about pragmatism instead of politics. what he he talking about? >> well, the republicans felt as if everybody in america is a small business owner, they're trying to say a lot of people in america are never going to start a business, we going to help them. and the truthful question to ask over the next couple days is the stagnation of middle-class wages do they have the answers big en

the weak borrowers overleveraged, too much debt.ave to believe it has recovered at fast prices. not talking prices we saw in 2006. >> covered 60% of the value nationwide, probably in some centers like new york. dripping by commercial rent, but clearly has much faster than housing, much quicker with virtually no intervention. adam: giving you the last question, what is the bottom-line lesson that we should be paying attention to. >> what fdr did in the '30s was a better solution than intervention. $40 billion per month, i think it is a political move, 12 temporary shot in the arm for homebuilders and will not help the average person who owns a house because all the people who can qualify have qualified. adam: we appreciate you being here. melissa will have you on again to talk about this. call it the dim light banner. how girl power is turning serious profits against pep boys in texas. the owners join us to explain next. at the end of the day it is all about "money." ♪ adam: move over, pep boys, the girls are taking over the car busi

protect against those ills that destabilize our economy in recent years-- like predatory lending, overleveraged financial institutions and the unchecked avarice of the past that trumped fairness and common sense our platform calls for significant cuts in federal spending. our platform calls for balanced deficit reduction plan where everyone-- everyone-- from elected officials to the wealthy and the super wealthy pay their fair share. (cheers and applause) >> ifill: of course, cory booker is one of the rising stars of this party and he's still speaking behind us because people are so excited about what he has to say. if you want to hear more of what mayor booker has to say, it's on our live stream. david, he talked about pragmatism instead of politics. what he he talking about? >> well, the republicans felt as if everybody in america is a small business owner, they're trying to say a lot of people in america are never going to start a business, we going to help them. and the truthful question to ask over the next couple days is the stagnation of middle-class wages do they have the answers big en

a significant portion of which are under water or overleveraged, meaning they can't be refinanced iny. >> somebody is going to write those down. thank you. >> thank you very much. >> hopefully it's not your bank. >> knock on wood. >> see you later. all right. don't move. on the way, a pick up in credit card spending helps discover financial beat the street. a look at whether you should buy shares on that news. we'll be right back. more than , ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] >>> good afternoon, everybody. the referee is back

protect against those ills that destabilize our economy recent years, like predatory lending, overleveragedris of the past that trumped fairness and common sense. our platform calls for significant cuts in federal spending. our platform for a balanced deficit reduction plan where everyone, everyone from elected officials to the wealthy and super wealthy pay their fair share. [ applause ] please listen to this because when your country is in a costly war with our soldiers sacrificing abroad, and our nation is facing a debt crisis at home, being asked to pay your fair share isn't class warfare, it's patriotism. [ applause ] we all know -- [ cheers and applause ] we all know, we all know that it's common sense that for economy built to last, we must invest in what will fuel our economy for generations to come. this is our history. from the transcontinental railroad to the hoover dam, to the building of the most historic bridges, our american ancestors prioritized growth and investment in our nation's infrastructure, and today, and today our businesses, industries, entrepreneurs and economy rea

well, i mean, i go back to one of the fundamental problems was the overleveraging of the banks, whichthers. and essentially the failure of many of companies. but they weren't allowed -- weren't forced to liquidate. lehman was the one time someone piece been forced to liquidate and we saw what nearly happened as a result of it. we've had many other companies that one way or another were either taken over, bailed out, fannie, freddie, aig, various banks, the spanish banks, greek banks, now we do it with governments. and i think all of those things suggest that the financial system is quite destabilized. and i agree with the fed that qe-3 is not likely to work. just as qe-1 and qe-2 didn't work. when we look back at where we were and where we are, we've had all this printing and deficit creation, and we really have accomplished nothing. in fact, we've gone into reverse in terms of job losses and numbers of homes sold in a year. so i don't see the qe-3 as being substantive in terms of helping the economy. >> eric, it's neel kashkari. as a big gold investor, how do you think about the futu