what we're seeing is a pendulum swing. there was a massive rush to build in china and other countries because the wages were just so low that companies had to take advantage of it. but as with any economic trend, you find the pendulum swings too far first and then swings back. what we're seeing in the u.s. is the beginning and just the beginning of that pendulum swinging back in the u.s.'s favor. wages in china rising at 15% to 20% a year and it looks like it may increase from that level. that makes china less competitive. the weakening of the dollar has also helped. relative to used countries that have floating currency and we're seeing china do sal uation right now. because the pendulum is we think that sometimes in 2015, a season of good that are going to be that spread got pretty tough. we would expect to see jobs and activity return to the u.s. because the pendulum just swung too far in the other direction. we were a little surprised because we weren't expecting it when we started to look tore companies participating

and because the pendulum is swinging the other direction. we think that sometime in around 2015 for a series of goods that are very important to the u.s. economy, the economics producing in china will be around 10% lower cost at the factory gate than the economics of producing in certain parts of the united states the same kinds of products. that spread gets pretty low when you think about transportation, country risk, the thought of being 5,000 to 7,000 miles away from your customer. all of these add up and say that we would expect to see jobs and economic activity return to the u.s., because the pendulum swung too far in the other direction. we're a little surprised because we weren't expecting it when we started to look for companies participating and started to see dozens and dozens, well over 100 companies who are repatriating jobs back to the u.s. for pure economic reasons. >> thank you, hal. david thompson, you operate in a sector of the satellite business has been extremely competitive for a long time. how would you assess the curren

clearly today the pendulum is too far over here. when it comes to the available of these. i'm not sure scheduling would be the right answer, but we have to bring this back to some eek l equilibrium. >> are you working that this is hurt mortgage people than it is saving? >> i have. i heard from a number of physicians that want to be much more flexible in understanding and treating pain, rather than writing prescriptions for 30, 60, or 90 days' worth of very powerful painkillers. they also want to make sure that there are systems in place where they can be adequately rehm b rd for what right now seems to be a simple and effective but not always effective in writing a skrip. >> the opiate babies. can you speak briefly to what you have learned about opiate babies? >> i can. i can tell you in the past and having visited one of the centers for newborns in seattle, the issue always centered around newborns and the addiction through heroin. today when i met and saw all of those infants and actually held one of those infants, the issue was all about prescription drugs. and there wa

they voted. >> you're seeing -- you talk about the pendulum swinging the other way. you had all this ease and oversight and regulation. board members are the ones who usually are charged with setting director pay. typically only 1% of board member approvals are not made for the c.e.o. pay. this year it's up to 10%. the big one in the news now is city growp. we give the -- citigroup. we give the banks all this money and they give out all this pay. so they voted against it. now they have to go back and reorganize. the real reason they voted behind it and the person looking out for your interest here was calpers, the real strong money manager, handles the california pension system. >> we've run out of time. thanks for being with us. >> my pleasure.

by separating your hands, it promotes a correct pendulum stroke that uses the large muscles of your shoulders and eliminates the wrist breakdown that causes missed putts. but that's not all. you also get hank haney's driving lessons dvd, a personal driving lesson given by top pro mark o'meara and top instructor hank haney. so order your medicus driver right now. test-drive the medicus for a full 60 days. if you don't add 20 yards to your tee shots and find twice as many fairways, you can return it for a full refund. learn to drive like a pro with the medicus dual hinge driver. [♪...] >> get the medicus driver and you're gonna start hittin' 'em long and straight just like that. ...you know, hank, we've come to the moment of truth: the impact position. >> oh, you're exactly right. i mean, that is the moment of truth, 'cause everything you do in the golf swing is to achieve a good impact position. and the most common mistake that amateurs make is when they come into the golf ball, their hands break down and their left wrist cups. it adds loft to the club and gives them a tendency to also keep th

because the pendulum is swinging the other direction.tom line is we think that sometime in around 2015 for a series of goods that are very important to the u.s. economy the economics of produce anything china will be somewhere around 10% lower cost at the factory gate than the economic producing in certain parts of the united states, the same kinds of products. that spread gets pretty low when you start to think about things like transportation costs, country risks, the thought of being 5-7,000 miles away from your customer. o all these things start to add up and say that we would expect to see jobs and economic activity return to the u.s. because the pendulum just swung too far in the other direction. we're a little surprised because we weren't expecting it when we started to look for companies that were participating in this and started to see literally dozens and dozens, well over 100 companies who are repatriating jobs back to the u.s. not for patriotic reasons, but for pure economic reasons. >> thank you, hal. david thompson, you op

you need to see the pendulum has now swung. the tea party in many ways has lost a lot of this mojo because of overreach. it is out of sync with the values of so many people. we could have seen that in the summer of 2009. one of tea party people stood up and said "government, take your hands off my medicare." you see how internalized those programs are. >> who does not want to watch a car wreck? >> it has done a lot of damage. >> this tweet says the obama administration is responsible for the tea party. >> it opened a backing tree that hot summer of 2009 -- it opened up a vacuum for it. that hot summer of 2009. the president could have mobilized. there were people mobilizing on their own. a pragmatic, progressive president would have understood the power of having people in those places to combat a message that was full of misinformation. remember teh death panels? part of that is on us to fight back and expose that. only after labor day did the president come forward and begin to speak again to the people and explain where they

where is thealance right no >> i think right now the pendulum is swinging toward more regulation. i think that's correct. i get a sense it's going to go too far. these things tend to go too far so, again, go back to the crash on the freeway, the initial reaction is to lower the speed limit and the risk is you lower it too much but at that stage what society wants is soundness, not efficiency. and i think we have to respect that that's the reality of the world today. people want safety and stability rather than efficiency. >> bro: we,ynn stout, so how do you maintain... what do you suggest in this balance of regulation that allows for a certain amount of risk-taking and investment activity but keeps it from going too far? >> i think we definitely need more regulation. i wouldn't say we have too much regulation, but i would say we have the wrong kind of regulation. we have a... we've created a very unhealthy regulatory system because what dodd-frank did was not pass basic rules like setting speed limits. what it mostly did was gve government agencies-- treasury, the commodities futu

i don't know if the pendulum will ever come to rest right in the middle. we're always dealing with a social movement, as it were, of which medicine is a part. some people believe th the ideof patient self-determination should be extended a step further: the step of saying the patient should not only be able to refuse treatment, but also demand one particular intervention which is the administration of a lethal substance that would in effect end the life-- be used not just to relieve pain, but to achieve a painless death, and i don't see it that way. we work with dying patients all the time, and sometimes we have to surrender to the process of nature that is carrying them off. but that doesn't mean that we have to betray them in that process. and i consider physician-assisted suicide to be a betrayal of patients rather than a support of patients, to the ultimate surrender to the realities of this illness. most of the pressure for active euthanasia or physician-assisted suicide comes from people-- and often in an anecdotal way-- who have experienced a death

the changes that we've made so far are working and the pund -- pendulum is swinging back to center and everyone is seeing the fruits of our labor and i think that changing leadership would totally undermine all the progress we've made. thank you very much. and also, real quick, if anyone here is in support, i just want to -- many of us are not speaking but all are representing the school so if you are here and want to raise your hands to show if you're in favor. >> [speaking spanish] translator: good evening, my name is julio. i am the father of a kindergartener and i am very happy with the current administration. i would like that the administration continues the same so that my student continues learning and being successful in school. thank you. >> hi, i have two kids at paul revere. i'm on the p.t.a. board and i'm at school every day volunteering. i'm here to sincerely thank you for your courage and your foresight in preventing layoffs at paul revere and second to encourage you to renew sheila salmon's contract. two years ago, our community came together and thought long and hard a

in terms of the pendulum there's a pendulum swinging back on this a little bit. the economy has helped with this but this is one of those moments where what we need to do is give you guys the reality check, we use the phrase bubble wrap the younger generation excessively, they are entitled to taking too anything they want. we saw that with occupy wall street. time for a reality check. you are going to have to go out and achieve something and build something but hopefully we won't have screwed things up by the time you get there. as a baby boomer i can say this. in terms of perspective the way that we celebrated ourselves, how wonderful we were. what is our great legacy going to be? the greatest generation fought world war ii. we rebelled against them and spend all of our kids's money. think about that. >> in my first career delivering newspapers, shovelling snow, i got my first full time job when i was 14 years old. now i have been working ever since. that officially makes me a sucker. >> i hope not. >> what i am concerned about is the belief that our society is

>> well, i totally agree that the pendulum has swung so far in one direction and so transactional andisconnected with the things that they buy that my kids think that the food shows up in the super market, and we order things on line and we show up at the front door and the days of going into the shop where they knew their name and what you wanted to buy, you have to capture it again, because people miss that, and we are human beings and we need that interaction, and there are businesses that are able to really, and the local coffee shop, and the local store that can help you the fit sneakers the way that just so that you can't do online and you can't do any other way. i think that there is a trend back towards that direction of a b business. >> and if you really understand how it is helping your community, suddenly, the convenience, sometimes is not as important if you have the extra time, and you will go take it to shop at one of the stores? >> right. it does not increase commerce, because those people have so much to spend, disposable income, but what it does to bring people togeth

gravity moved from the mesopotamian valley and asia north and west to europe and north america that pendulum has started to swing again but i don't think it's swinging to china or asia it's not going to be a chinese century i think it's swinging everywhere and therefore nowhere and so for the first time in history we will be living in a world that is interdependent globalized interconnected but no longer dominated by the west and that's why i think it will be no one's world we don't know when that moment will come when there is no longer a material and ideological gemini of the west but we know what's coming we better prepare for it and so are you talking kind of like the near future or decades from now or any idea and say you don't know exactly when but any sale of that time for i think we're at the beginning of the and over two hundred year period of western germany that opened in eight hundred fifteen the end of the napoleonic wars and we'll begin to move to the new era over the next decade or two and that's because you look at the numbers china will surpass the united states in global g.

and i do sense that airs in terms terms of the pendulum swinging back on this a little bit. i think that the economy is help with this, but this is one of those moments where, what we need to do is give you guys the reality check. i think we have may be to use a phrase from another book, bubble wrap the younger generation excessively, told them they are entitled to do anything they want. we saw those people that occupy wall street. it is time for a reality check, nature is going to have to go out there and achieve some pain and a half something. but hopefully one of screw things up for you by the time you get there. and i've got to tell you something. as a baby boomer, i can see this as a boomer because in terms of, the way that we celebrated ourselves and said how wonderful we were, you know, what is our great legacy going to be? the greatest generation fight world war ii, we then grew up in about a transcendent spirit against them and then we spent all of our kids money. i mean, think about that. yes. >> and my first career delivering newspapers, shoveling snow, cutting mo

i think i totally agree, i think the pendulum has switched so far in one direction, we've become so transactionalsconnected from the things we buy. i think my kids think the food shows up in the supermarket and don't know where it comes from. >> money comes from the machine. >> we order things online and they show up at the front door. the days of going into the shop where they knew your name and what you wanted to buy, you have to capture that again. people do miss that. i think we are human beings, we need that interaction. there are businesses that are able to really -- the local coffee shop, the local store that can help you fit sneakers just so that you can't do online, you can't do any other way. i think there is a trend back towards that direction of a business. >> and if you really understand how it's helping your community, suddenly the convenience sometimes is not as important if you have the extra time you'll take it to go shop at one of these stores. >> yes. it doesn't increase commerce because those people have so much to spend, disposable income, but what it does, it brings people t

of the outcomes of rio +20 is to establish another develop goal there is a tendency in policy for pendulum swings. if you add something, you start dropping things. and we're just at the point where the post 2015 has the opportunity for many of the other mdgs to succeed. but there is a tendency to call for trade-offs. how do you get the energy behind the other millennium goals to ensure that this addition actually becomes a catalyst for something that drives all of them to succeed in education? we see this year the -- this administration is so supportive of girls and women is proposed to drop by 50% the funding for the millennium goal on children's education as a trade-off for food security. a terrible trade-off. can you talk than trade-off dilemma in the post-rio meeting? thank you. >> okay. i'm going to take you one more and give you two the last word to address. >> they're all huge questions. great questions. >> i saw somebody -- sorry, yes, that's it, yes. sorry. can't do everybody. >> hi. nina gardner with strategy international. i was wondering whether there is some discussion in rio

modulation, and given -- you know the benefit of some doubt, they are doing some lending -- the pendulumm where everything is too lose, and then everything is too tight. it's so hard to buy a house now for instance. or make large consumer purchases that require lending. the real problem is in the trading. i mean that's what has really reverted back to the old days. they are trying to water down the voelker rule and they are trying to do everything to unroll dodd-frank. and what hand today is part and parcel to that. >> when you say they are trading for their own book they are using the money that taxpayers give them or we permit them to get at low cost and creating their own trading platforms where they keep the upside so it really was a one-way transaction to that extent. >> the voelker rule is intended to say, if you have federal backing and federal guarantee, you cannot trade simply for yourself, all of your trading has to be on behalf of clients, but the real profits during the run up for made for trading for yourself. these transactions that really -- they had no social purpose. the

we see the pendulum of a clock swinging in different directions.ing the boom, the banks were too easy with their money. the pendulum has swung the other way now. it is hard to get credits. banks are facing criticism because of that. host: the chairman weighed in on determining the risk factor of a bank, too big to fail. take a listen. [video clip] >> we have had to get closer into this because of the crisis. the fed must make some determinations about how critical a firm is. new requirements require the firms struck a capital surcharge, they have to handle more capital. the international bank regulators work together to try to set a criteria related to size, complexity, derivatives -- criteria that determine how much extra capital they have to hold. the fed has to evaluate whether the merger creates a systemically more dangerous situation. host: jon hilsenrath. guest: this is a problem that has not been fixed. the regulators are still working on that. we might never know whether it is fixed or not until push comes to shove. we had a number of big b

you have two different candidates running for president that either could swing the tax pendulum one way or the other. if you had a consistent policy for longer term, nothing is written in stone in terms of tax rates, that will convince insiders to hold longer. otherwise, as soon as these lockups come out, they're going to slam the market with stock. i think that's why facebook is bringing out an ipo in may so some folks can get out before the code may change next year. >> what do you do here? >> with yelp? >> yes. do you care at all? >> i admire their restraint. i'm very proud of them. what they basically said is this is great company. we like it. look at the valuation. why would anyone pay 18 times sales for a company that's looking to grow its top line 14%? i don't see any reason why anyone would buy stock here other than if you think that a greater fool comes along and buys it from you because everyone is excited about facebook and that enthusiasm lifts the names. that's possible. that's not a game i want to play. >> coming up, another shake-up. this time at the biggest publicly

>> sometimes i think it takes the pendulum swinging so far in one direction for people to wake up andhat are we doing? it is absolutely insane to say women shouldn't be secret service agents. look at where the scandals are erupting. and in fact, it was a 21-year-old veteran. agent reid, a woman, who basically went to the 11 guys. you're out of here. no nonsense, no carrying on, no vacillating. you did it, you're out. i think women have proven themselves time and again quite capable. >> we've just learn that jimmy fallon today asked the president about the secret service scandal in an interview that we speck to air this evening. according to reuters, the president describe the agents involve as, and i'm quoting him, knuckle heads. you've served in the marines. you've probably heard all this talk before about what women can and can't do. what goes through your head when you hear this conversation? >> i think the first thing i have to say is that integrity or the ability to think and do the right thing, it is gender neutral. so it doesn't matter if a rank has more men or more women. it d

so this at least will maybe swing that pendulum a little bit back in the other way if those statements are ever revealed to the prosecutors. >> here's hannity on his radio show, revealing that he has spoken to the shooter. >> people are trying to make this all about george zimmerman. and i spoke to george zimmerman. and i'm not going to reveal the contents of that conversation. but i have confirmed, yes, he was a mentor to minority children. now, if you were a racist, i think you would be a mentor to minority children. >> mr. gelber, i have to ask, as a prosecutor, if sean hannity is saying that he's not going to reveal the conversation, that would only pique my interest into, what did he the tell you? >> and the lawyers may get involved. and who knows who else he's spoken to. i mean, i think it just -- you've got an out of control client at this point, and i understand why the lawyers want to get out of the case. i agree that laying out their client may not have been the best way to do it, but i understand why when they were communicating with him, they were lawyers without a client f

. >> the emotional pendulum of that day for that father. incredible.t information from our abc affiliate in that area is they have detained one person so far, as you heard. no charges have been filed yet. according to some sources, a second person of interest is also now in custody. so we expect this story to develop throughout the day. >> but at least kudos to the s.w.a.t. team for expeditiously getting that child back at least into the hands of its father. but the brutal murder and then, they shoot the woman nearly seven times. you heard seven times. and then carefully place the little boy into a car? >> it's odd. it's odd. there's more to come on that. >>> another crime mystery has been unfolding in san diego. a body has been found in the search for the missing wife of a marine. brittany killgore was last seen friday night. a woman has been arrested in connection with the disappearance and is now expected to be charged with murder. in a twist, though, that woman attempted suicide and in a note apparently detailed what had happened to killgore. >>> p

kennan in american life from pendulum press.ul hendrickson, hemingway's vote everything he left in life and lost, 1934 trinkle 1961. manning marable, malcolm x, a life of reinvention. and ezra vogel, deng ziaoping and the transformation of china, harvard university press. and the 2001 nbcc award of the biography goes to john lewis gaddis george f. kennan, an american life. [applause] and i will read the citation from marianna who couldn't be with us tonight. georgette kennan and american life by john lewis gaddis is the story of an american diplomat, who turns it inspired, exasperated and appalled never held high office indicated the necessary insincerities of the diplomatic trade triet gaddis, a distinguished historian, began work on the biography in 1982. his task and it is 30 years later after his death after 101-years-old. a long biography to read a long life. he built a portrait of the man was the instincts of a master manipulator and a temperament and also to for the service. his containment doctrine governed american fore

>> the main market pendulum has been the outlook and the possibility of qe.ed for qe to be agreed is a weakening economy, but for it to be off the table completely, you need to see 200,000 jobs created per month. so while bernanke remains very cautious, the outlook is still being hotly debated and is driving market swings. >> all right. our thanks of course to you both. a and that's it for today's show. i'm jackie deangelis in the united states. >> and i'm beccy meehan in europe. thanks so much for watching. >>> jet begins engines and hamburge hamburgers. key economic barometers. microsoft beat the street as pc sales look to be holding up better than expected. but european questions once again hang over the global markets. finance leaders meeting in washington, hope to change all that. right. it's friday, april 20th, 2012, "squawk box" begins right now.

. >> i think the pendulum keeps moving both ways.n ministry, 45 years i have seen it go one way to the god is dead theology, and then move back to, you know, he has risen theologies. it has its movements. >>> final word, quickly. >> i think we have a great opportunity today. things changed. outside world has changed and what does that mean for church in the easter mess sing where -- message is where we are at. >> thank you all. >> thank you. >> happy easter. happy resurrection. >>> welcome to "news4 today." >> happy easter, everyone. we want to focus on the weather because many of you are probably up and at it getting ready for much or getting ready to go and hide eggs in the park. >> whichever side of the egg distribution they are on -- >> they usually go hand and hand. >> i used to hide them until my dogs found them all, and then i had to stop hiding them so much. >> you must have put good stuff in the eggs. >> he has a very good nose. >> he's close to the ground, though. >> temperatures not all that chilly in town. there are a few

again this pendulum that swings back and forth and where the electorate's head is at right now seems to be more in keeping with what mitt romney is talking about reempowering the private sector as opposed to what the president is talking about imposing new fairness on the system, increasing leg laboratory levels to -- regulatory levels, even out playing field. megyn: are they sit at home i want things to be more fair the way president obama is promising? you follow up with that means more government, they sit and say, oh, i didn't sign up for that? >> scott hit it right on the head. he absolutely nailed it. it is a trust factor. if they don't believe the government can do the job, if they want fairness in the abstract, that's great. if they don't he have mr. the government is up to the job making economy more fair, that government regulations can do the job it will not work. megyn: on that score, scott, what is the latest in terms of people's trust in the american congress? >> people who think the congress is doing a good job is in single digits by a three to one margin. people belie

. >> the emotional pendulum of that day for that father. incredible.re's more to come on that. >>> another crime mystery has been unfolding in san diego. a body has been found in the search for the missing wife of a marine. brittany killgore was last seen friday night. a woman has been arrested in connection with the disappearance and is now expected to be charged with murder. in a twist, though, that woman attempted suicide and in a note apparently detailed what had happened to killgore. >>> police in northern california say they have new leads in the case of a missing 15-year-old girl who vanished a month ago. investigators will not say what those leads are, but they do believe sierra lamar was kidnapped shortly after leaving home to catch a school bus. they have been searching reservoirs near her santa clara county home but so far nothing has been turned up. >>> sadly, the remains of a minnesota couple who died in that cruise ship accident off italy, they've been officially identified. barbara and gerald heil were the only americans killed when the

and circumstances that i call this a pendulum hour as you're watching it your feelings will go back and it comes to a very dramatic conclusion. >> those are the best kind of "48 hours". i think one thing and ten minutes no i think that then you go to that. it's a wonderful tease and dramatic twist at the end. >> that's what keeps us tuning in. it's a pretty incredible story, though, to actually get ann rule to come in and help with you this quest for justice and for answers. >> bart thompson runs a horse ranch near spokane, washington on the eastern side of the state. was so persistent and ann felt this in connection and the two started investigating. ann rule calls them an older cagney and lacy. but she goes out and tracks down sources, information and they come up with this theory of what happened and eventually they get this to what's called an inquest where there's no judge, there's no attorneys, hearsay evidence is allowed but a dramatic hearing in washington state to determine whether it was suicide or homicide. >> none of that would have happened without ann rule. >> that's right

circumstances that -- i call this the pendulum hour.e if it was suicide or homicide and comes to a very dramatic conclusion. >> those are the best kind of "48 hours," where i think one thing then ten minutes later you think that. it's a wonderful tease. a dramatic twist at the end. >> that's what keeps us, of course, too tuning in. it's a pretty incredible story to actually get ann rule to come quest for justice and for is answers and for the truth. >> barb thompson, who runs a horse ranch near spokane, washington, eastern side of the state, was so persistent. ann felt this connection. the two of them start investigating. ann rule calls them an older cagney and lacey but then ann rule goes out like a detective, helps track down sources, information, and they come up with this theory of what happened. eventually, they get this to what's called an inquest where there's no judge, there's no attorneys, hearsay evidence is allowed but it's the dramatic hearing in washington state to determine, was it suicide or homicide. >> none of that woul

. >> because we had a big shock, big trauma, people feel the way along the pendulum goes too far, hasgo the other way, we definite -- the markets are always evolving and regulation has to evolve with it. we expect a lurch now and a big focus on it. i'd say we're kind of -- i don't like everything, everything proposed, i don't like every regulation but the idea we have to have a reform, you couldn't deny that. >> and joining us this morning in a first on cnbc interview, paul reilly, ceo of raymond james. good morning to you. thanks for being with us. >> great to be here, carl. >> talking about broad topic. blankfein's view, it's like hammering out a sword, right? we'll hammer this out until it's flat and splooth. that is the process you think is under way? >> i think so. the regulation that was proposed is so complex, and i think that's the challenge people are having, is we don't know what all of the rules are. and even the interpretation is so broad and we've seen drafts and they keep changing that i think they're trying to find their way to get the balance. >> investment banking in