[applause] joining us now is professor robert proctor. he is a professor of these great science that inferred and this is his most recent book. "golden holocaust". professor proctor, when mercy rights invented? >> it depends which part of the cigarette you think is essential. it can be thought of as the nicotine delivery device in which case they go way back. you can think of it as a small cigar, which in case they go even further back. or tobacco wrapped in paper in which case it begins in spain in the 17th century with poisons and growing tobacco scrap and ways into oldies papers in smoky nose. it doesn't do much until the 19th century when the middle east runs out of pipe tobacco, so they start rolling tobacco in the old ammunition pieces of paper and start smoking them. it is mainly in 19th century phenomenon, gets going really digging the 18th use, 1860s and exposed at the invention of mechanized rolling tobacco. where instead of having these girls and women both occur at, and they could rule 200, 500 per day, suddenly the machines c

neil: robert proctor telling me that a major crashes on the way.utlook and earnings for the next three to five years. predicting that stocks will drop for the next three to five years. to liz macdonald, the prediction to come true. is that right? >> i think he's really overstating it. i don't think they will let the market go down to 6000. and here's what we already know. in 15 to 20% so you could see next year. >> that's exactly what happened, in 2010 in 2011, with every iteration of it. that is what you can expect next year. neil: that would be in due course, right? what you've been? >> well, it's very interesting and i think as long as her foot is kept on the grass, the geral resistance is up. neil: i don't know if i buy that. >> i think t the point of liz macdonald, the fed is going to do anything they can to keep the illusion going. p> i don't think the feds can control this. if everything hits the fan, i don't think that them by a bazillion dollars of security per month is going to stop it. >> we have been hearing the same story. tom said at

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we are with robert proctor at stanford university, professor at the university of science. here's his most recent book, "golden holocaust: origins of the cigarette catastrophe and the case for abolition". .. >>> 2013 marks book tv 15th anniversary. our debut was september 12th, 1998. from december, 2004, former senator kay bailey hutchinson recounts the lives of pioneer women including clara barton, amelia earhart, geraldine ferraro, condoleezza ic