ryan mack is with us. seems like the same discussion every single day.e have to have it because there are still a lot of people out there wondering what the heck to do. and you are actually taking an interesting approach here. you're calling what we are seeing now the new normal. tell me what you mean by that. >> essentially, the new normal essentially means in 2005, '06, businesses that were essentially borrowing excessively and hoping that today, for tomorrow, they are going to be able to earn excessively to pay off their debt they acquired today. essentially what they are doing now is paring back and keeping cash on hand to sustain themselves. they are being more moderate in their approach. we are going to be in this quite some time. if we think businesses are hiring at the same rate they were before it's not going to happen so they are being more prudent and wise as a matter of fact with their debt act circumstances levels. >> are you saying what we have seen take place is, in some way, a blessing? >> i actually do believe that. again, we are taking

ryan mack, i want to turn to you now.re saying in terms of the euro debt crisis that there is "no solution in sight." for people who think the u.s. economy is the biggest and best, you know, i mean, i think we need to remind our viewers that europe and asia are tied very closely to us, right? >> absolutely. i think what we're seeing here i don't think we'll see another double dip. but i do think we'll see a correction because for quite some time, again, we've been going up from the dow jones at 6700 up to 12,800, thinking that the housing and credit and job crisis corrected themselves and they haven't. pre-recession, you've gotten used to a level of unsustainable existence using debt level excessively and borrow for today what we hope to earn for tomorrow. that was not working when the rug was pulled beneath us. what we're seeing now is we've come to a new -- companies, the bright side is they have solid corporate earnings but the housing market and job market a little bit too far, overlooked. we're seeing a new normal. q

. >> reporter: with gold shining in the spotlight, financial advisers like ryan mack gets lots of questions advise clients to buy physical gold. instead, he invests in gold exchanged traded funds and increased stakes to 20% of portfolio, which is high. he also warns against a rush to gold without a well thoughtout stratd ji. >> you can lose a lot of money investing in gold. if you put put all your eggs in one basket. as high aez fast as gold has appreciated, you can lose an extreme amount of money. >> reporter: and before the bubble bursts -- >> $1100. >> thank you. >> reporter: peel are selling what they can, just trying to get by. as high as gold is right now, some believe prices could climb a lot further before things settle down. analysts at jpmorgan say gold could reach $2,500 an ounce bit end of this year. >> wow. all right, you're going to have a lot more on this story. the market collapse today. that's coming up in a few minutes. a growing backlash against washington with many worried americans demanding answers from congress and the president over the debt crisis. so is this the ti

. >> sean: cut, cap and balance, balanced budget amendment, ryan plan, which plan do you want? the mack you going to put in -- 2012? michelle bachmann? >> better than what we've got. >> sean: more with our great, great american panel. as luxury s.u.v.s, it helps to have the quality and craftsmanship of your leather interior test better than the lexus rx 350. it's also helpful to set your "select terrain" dial to "sand." ♪ getting an amazing discount on a hotel with travelocity's top secret hotels. [ gnome ] ahhh... [ male announcer ] the easy way to get unpublished discounts of up to 55% off top hotels. [ gnome ] your fingers are quite magical. >> sean: we continue now with our panel. rick perry in the race. slamming ben bernanke. here's what he said. >> if this guy principles more money between now and the election -- if this guy prints more money between now and the election i don't know what you would do to him in iowa, but we would treat him pretty ugly in texas. in printing more money, to play politics, at this particular time in america's history, is almost treacherous -- treason

. >> sean: cut, cap and balance, balanced budget amendment, ryan plan, which plan do you want? the mackt in -- 2012? michelle bachmann? >> better than what we've got. >> sean: more with our great, great american panel. as luxury s.u.v.s, it helps to have the quality and craftsmanship of your leather interior test better than the lexus rx 350. it's also helpful to set your "select terrain" dial to "sand." ♪ host: could switching to geico reon car insurance? or more host: do people use smartphones to do dumb things? man 1: send, that is the weekend. app grapgic: yeah dawg! man 2: allow me to crack...the bubbly! man 1: don't mind if i doozy. man 3: is a gentleman with a brostache invited over to this party? man 1: only if he's ready to rock! ♪ sfx: guitar and trumpet jam vo: geico. 15 minutes could save you 15% or more on car insurance. >> sean: we continue now with our panel. rick perry in the race. slamming ben bernanke. here's what he said. >> if this guy principles more money between now and the election -- if this guy prints more money between now and the election i don't know what yo

i thought the ryan plan was a good start. i like the mack-penny plan a lot.u aware of the plan and is it something you would sign on to? >> i have my own plan i gave it at the university of chicago barack obama's former employer. available at timpawlenty.com. it goes into great detail what i would do. cut the corporate rate from 35% to 15%. take the individual rates from 6 to 2. eliminate all taxation on dividends, interest capital gains and estate tax pro-american drill here, drill everywhere bring more energy to market to bring down cost energy plan repeal obama care, fix sarbanes-oxley, fix dodd-frank have a regulatory approach that is pro-jobs. let's have a sunset on all regulations. let's make sure before regulations go into effect there's a fine up and down vote by congress so real people who have to bear the burdens of these regulations have one more crack that their elected representative before those regulations go into effect. i know you support this. we have to have a constitutional amendment to balance the budget. i don't believe we can send polit

mack-penny plan? >> if we get into the details i think it is an extremist version of a balanced budget amendment that even the ryan budget would not satisfy if you start attacking the details, it would hurt the education and the investment budgets of the country. >> sean: balancing our budget is extreme? >> let's have a debate about that. it is not extreme. but we've got to do that in a balanced way. >> sean: 49 states have a balanced budget. >> let's have a discussion about it. they float bonds and issue debt while they balance the budget. so the federal government's accounting is slightly different. my point is, there are things we can agree on. there are hundreds of things that you and i would disagree on. but there are five or six we could agree to do now that would help the economy. so let's start with those. let's put off the argument for six months. let's do the stuff we agree on right now. >> sean: you agree to cut taxes, i'll support you. agree to end burdensome government regulation, i'll support you. >> i'm for that. >> sean: are you willing to eliminate the capital gains tax? >> if it would be effectiv

the course of this, paul ryan will vote this out of committee, the idea we'll have a vote on the baseline, and speaker boehner told louie golmer he would support it. your mack plan is? >> really simple. for six years, we cut 1% of spending for six years. >> sean: wait. we freeze the 2011 levels? >> that's right. >> sean: $3.6 trillion? >> we freeze it at that level. take 1% for six years. >> sean: one pen out of every dollar? >> one penny out of every dollar. this isn't a big lift, and washington can do it. then we cap spending to 18% of gdp in the seventh year. in the eighth year, the budget is balanced, and after 10 years we cut $7.5 trillion. all of this talk about the cuts, the supposed cuts that happened in this last bill that passed, those aren't cuts. those are fantasy cuts, reductions in the rate of growth. everyone knows if you continue to spend $1.6 trillion more than you bring in, you have to borrow that money, it adds to the debt. we can't continue to do that. >> sean: your fellow floridian marco rubio spelled it out best giving his argument. he said we take in $180 billion a month, right? >> uh-huh. >> sean: we spent $120 billion more. we spend