economist peter morici from the university of maryland. good to see you both. peter, is this a bigger bubble than what we had in 2008? >> no, i don't think it is. a good deal of debt is student debt, for example. i don't think at end of the day that debt will be permitted to just flat-out default. i think government will come in. i think they bear some responsibility. we had all these homeowners across the country integrated with the banks and the wall street people with insurance policies and derives. -- derivatives. it is special situation. i think this situation is frankly, a lot more manageable. david: dan, we have to admit, credible evidence risk is nothing like -- we were seeing ads in 2007. if you have lousy credit, don't worry come to us you can get a loan. you don't see that sort of stuff now, do you, dan? >> that's right. the banks have not been lending that much to small market people. carl icahn said is he saw bubbles in art and real estate and high yield bonds. basically what he is talking about is the fact that we have had effectively zero bound in

let's bring in peter morici, a star economist at university of maryland, and lynsie piazga. what has changed in the economy. we had the ho-hum economy we've had the past four or five years. that's what the jobs report said and the market skyrocketed since 2011. now, we have a similar report than the one over the years but the market crashes, why? >> i think that most folks read it as a good jobs report. i didn't. david: i didn't either. >> i started to see the reflection of what's happening in china and asia in the jobs report. in particular, it wasn't just mine that was down, if you take automobiles out, the entire manufacturing sector took a very large hit, in terms of jobs this month. another thing is the private sector did not create a lot of jobs, even with adjustment next month into this month's data, didn't create a lot of jobs and where it did, they're government funded jobs, a huge jump in health care. the government sector added 33,000 jobs, mostly schoolteachers. a good deal of the jobs created were created with tax dollars, not by private sector growth. that's wh

peter morici come back in, professor of economics.mp plan just as you announced it for individual tax rates down like that, would we get four, 5, 6% growth, what do you think? >> 4. stuart: you get 4% growth is. >> if the thing is scored. think about what has happened the last, three, four years, with higher taxes rate of small business formation, young people becoming entrepreneurs has so on has tanked. it is just become too expensive to start a business from the point of taxes. this will take all that away. if you're a schedule c entrepreneur, an llc, this makes a lot of sense. i wish though he had stayed with taxes, not started talking about 40% unemployment rate. liberal press will grab that and run. stuart: you're quite right. dealt with individual stacks rates. what trump said about business taxes here is what he had to say. no business of any size at all, doesn't matter what size of the business, maximum tax rate will be 15%. currently on major corporations it is around 35% plus state taxes. 15% will be top rate. one-time cut i