with one thing like let's say rube goldberg make sure you know what yes exactly like the thing with one thing such as talking about tapering or raising the fed funds rate. economic consequences so we only have a little bit of time but what happens when the fed actually begins tapering well just have domestic facts that's the. take away from this it will be an international phenomenon and we still have yet to see what that might look like understand thank you just again now as we've been discussing emerging markets have taken a hammering earlier i spoke with ben steele author of battle of bretton woods and i first asked him about his thoughts on the prospects for emerging markets and here's what he had to say actually is this is well money is beginning to flow back from emerging markets and india is one of the countries that's really most directly in the crossfire is here india russia china they're increasingly trading amongst themselves but they're not using the u.s. dollars you see this as a trend that continues until perhaps the u.s. dollar is not the reserve currency you know ove

basically, this is creating a rube goldberg type of legislative mechanism that would thwart the creation of regulations and rules that protect the american public and that's just plum wrong. now, what this does is tries to gut the e.p.a. and i'm shocked my good friends on the other side would try to gut the work of one of their great presidents, richard nixon, served in this house, served in the senate, four years as vice president, i think he almost eked out five years, he had some ethical channels as president he did create the e.p.a. and did some good environmental things. they should hold up the e.p.a. and hold up richard nixon as one of their standard bearers, probably served the longest time as president, vice president, and senate leader and served on the house committee. to forget richard nickson and minimize his work, i'm amazed, because he's one of the great heros on the other side of the aisle. to make these rules go through the house and senate, we know the house and senate don't get along. they mentioned, yeah, we got the len bill through. that's the first thing we did since