joining us now, peter kiernan, former goldman sachs partner in the great american no joke. . come economics professor at the university. peter kiernan come into big events to mark of the president gives his final pitch on tax reform and the fed is expected to raise rates. why is that i'll post a 100? >> neither of those events where as a surprise. i think we can execute a big chunk of the market rate, particularly the dow to good old bowling. good earnings, lifted its dividend and announced a $10 million purchase. stuart: i'm sorry i read this pass. the fed raises rates tomorrow and they are likely to come in no impact on the stock market? >> zero. it's expected that it's expected to be a terribly high. their target long-term isn't terribly high. things look good for the market. stuart: we are very fast today. >> want me to talk some more? dream to know. bitcoin. wall street's top regulator, and warning investors against bitcoin aired its burning with risk for the retail investor. peter kiernan, would you say? >> things are improving that the really to risk. bitcoin up over

peter kiernan, best-selling author, peter, your reaction to trump doctrine, america equal -- prosperityl competitors like china, follow the checkbook, the economy is the key. stuart: also joined by ron carson, ron, your response to the trump doctrine, security is prosperity? >> i absolutely agree 100%. i mean, security, prosperity go hand in hand and listening to you talk about the reagan era and the trump era, i think there's so many parallels there. if you remember, you know, reagan was under tremendous pressure and really criticism. i remember driving down the road, growing up on the farm and announced the largest farmville and we really need that after the obama era. >> i remember it well because ronal reagan's tax cut put me in middle class. i want to know your opinion of some of the selling that we are seeing now on wall street, do you think, ron, some people are taking money off the table early right before we get the tax cut deal so they sleep well over the holidays? >> you know, it's really hard to say. my whole entire career i've always said, buy the rumor, sell the facts. the

peter kiernan, got to ask about bit coin.oin touched an all-time high, close to $12,000 per bit coin. would you touch it with a 10 foot pole? >> when you think in the dictionary and look up adrenaline, bit coin is up almost 1000% this year. the fact is bit coin is a crypto currency, a digit that resides somewhere and the truth is almost everyone involved is incentivized to have the price go up. it is back up, 20% when china put in a few regulations and backup. we will see when it starts to act like a real market. what is a real market? in about a week the chicago mercantile exchange will have futures. in a month you will see some of the bigger institutions like hedge funds come in, people who buy and sort and sell these things, bit coin was designed to go up up up up up. i would have predicted 12 but at some point futures are going to bring reality to a market that hasn't had much. stuart: last word to peter morici on bit coin. would you buy it? >> it fluctuates so much and is not a medium of exchange. is more important to co