joining us this morning is robert kaplan, professor of management at harvard business school. strategy speaks volumes. bart chilton joins us as well. one of the great commissioners and spokesman for the cftc. professor kaplan, let me start with you. you own strategy. i go back 14 years now to your first books on strategy. what would be your advice to the white house on leadership or strategy in the geopolitical world away from the simplicity of the business world? flex i do not have anything real yet to add to what richard just set. they have got to understand what they are and are not willing to do. pressure, the only lever they have is the economic point with sanctions. it is important to russia. they have to think longer term beyond this first stage. >> a pressure you can come up with an action plan but there are all these on -- all these unintended consequences. do you think we can put on the pressure and have mr. putin or any others surprise us with some consequences? >> absolutely. you go back to grain embargoes and other things we have tried. the unintended consequences

. >> please join me in thanking robert kaplan.pplause] >> thank you. >> congratulations on the book. [applause] mr. kaplan's going to be here for a while signing books. you can throw another question at him, denounce him in any way that you want, just buy the book. >> and i'd also like to thank steve for being a wonderful, wonderful moderator. >> thank you very much. [applause] >> thank you all for coming tonight, and as steve said, bob has agreed to stay here for about 30 minutes in the back, so if anybody would like to ask him to sign your book, i'm sure he will be happy to do so. thank you again. [inaudible conversations] rush clearly felt that it had a >> booktv is on facebook. look us to interact with viewers and get up-to-date information on events. facebook.com/booktv. >> you're watching booktv on c-span2. here's our prime time lineup for tonight. up next, jared cohen and eric schmidt discuss "the new digital age." then at 7:45 p.m., lauren -- [inaudible] talks about the many political causes taken up by upton sinclair over

. >> this is what robert kaplan was talking about yesterday.he liquidity crisis that may come about. >> what happens is we wind up everyonento ranges and leans one way, dealers cannot take down the product because they cannot expand the amount of bonds they own. you get these selloffs. it is similar to what you have the last may and june, when corporate bonds and treasury bonds, no one could buy them. you had forced sellers. people pull their money out of mutual funds and no one can buy the bonds. this shows the new wall street out there. it goes to the idea of everybody adapting seven years out of the financial crisis. >> we are still adapting and trying to figure it out. there are still these little moves, like the moved to 258 yesterday, was that about ukraine? >> part of that was ukraine and part of it was the economic disappointment. china was a little bit weak. they are one of the growth engines of the world. the world.s. sneezes, gets a cold, now there are larger economies like china. if they sneeze, everybody gets a little bit of a cold