. >> long-term ron barron was on cnbc. he made a pretty outrageous projection, we've all been talking about it down here. let's take a listen to what he had to say. >> i'm expecting 7% average growth for extended period of time since we're below where stocks normally trade. how long will that take? 7% a year, you double your money every 10 years. that means if the stock market is 14,000 now, it could be 28,000 in 10 years and 50 or 60,000 in 20 years. >> ron barron is a very successful money manager. he's made a lot of money for his clients and for himself but that sound bite has a lot of people scratching their heads. >> i checked those numbers on 7%, with or without inflation, i'm not sure the economy's long-term growth at 7%. >> we're not growing at 7%. it makes sense stock market grows 7% a year, that's within the range of what it's done. i think it's great to say 10 years out this is where it's going to be. investing is very dynamic, not static. >> remember, ron is one of the classic long-term buys, long-term buy, tha

talking of longer term horizons and hopefully making money over those horizons, ron barron on cnbc earlier today. let's have a listen and then i'd like you to comment. >> sure. >> i'm expecting 7% average growth for an extended period of time, since we're below where stocks normally trade, and the economy is growing about 7% a year, including inflation. how long is that going to take? if you grow 7% a year, that means you double your money every 10 years. that means in the stock market is 14,000 now, it could be 28,000 in 10 years and 50 or 60,000 in 20 years. >> what do you think? number one, is his math right? >> well, the math is right. >> 7%? does that make any sense to you? >> it makes sense in the way he framed it out. he looked at 7% growth, historic growth. if you listen closely, 2% growth in the economy, 5% inflation. if we had 5% inflation, you wouldn't have interest rates of 0% that piece of the math is missing. it's a little bit silly, if you brought him back on and asked him the question, that long time horizon is not -- he was looking at 50 years at one point. i think most in

meantime making a come back after yesterday's triple digit loss, earlier on "squawk" we heard from ron barronket. >> i'm expecting 17% average growth for an extended period of time since we're below where stocks -- if you go 7% a year, that means you double your money every ten years, that means if the stock market 14,000 now, it could be 48,000 in 20 years. >> we'll set aside the 50,000 dow for you, you say we may flirt around 1,400 for the rest of the years. >> remember last year, when we hit 13,000 in february, it was up and down, up and down. we have got european -- earnings expectations still too high for the second half of this year, and finally this is a big milestone that takes us back to the peak in october 2007. if you've got a long-term horizon, you can buy it. >> we keep hearing about pension funds who want to increase their exposure, we keep hearing about companies upping their guidance. why is jeff wrong if in fact he is? >> well, some of the facts you just mentioned, but i also think that, i mean investors have been through a whole lot the past couple of years have been very --

yesterday ron johnson suggested that barron could lose it and the fact that they are talking about itpeaks to the cost of the leadership. it's quite possible that the democrats will need to be being willing to go all the way through the shut down if they intended to create the simples for republicans to raise revenue. that involves dismannedling unity and saying we can't take this backlash and all of that comes out after a shut down. >> nate dog, nice to see you. i want to talk about this poll. interesting though not totally surprising numbers. total positive. obama at 49%. the nra at 42%. surprisingly strong democratic party behind the nra and then there is a leap down here where the congratulate lick church and the go sprks way down there at 29%. do you think obama's popularity will help him leverage in the sequester and the lack of popularity hurt them or is this the gop saying we don't believe in government. we want to damage government to aid our thesis that government is the problem and working into their big scheme. >> i don't think that the president's favorability realityings