you have a great man coming up as a guest after me, david stockman.will tell you how the government itself caused the financial crisis that we're now in. why would we repose safety and freedom into their hands? neil: nobody likes david. >> i love stockman. the book is a doorstop but i couldn't put it down. neil: he is amazing. he is coming up. as are you, judge, amazing. thank you very much. >> pleasure, neil. neil: tomorrow is the day. everything exposed. not north korea's missile test. i'm talking the president's budget dare. the dare has both democrats and republicans screaming that the president has gone too far. why ronald reagan's aforementioned budget director says they're all being asses. he didn't say that. i did. not a one of them he says is going far enough. it is david versus all the goliaths, next. protein in jelly, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds

david stockman, that is very strong stuff, isn't it?the bias that says what we have been doing for the last couple of years will take a little more time and recognized the trend. here's a trend, main street economy has been failing. stuart: failing in what sense? >> who created only 17,000 jobs per month since 2000. 17 per month, we need 150. real growth, less than 1% per year for 12 years. real income, down 25%. the main street economy is struggling. we have the fed bubble machine creating bubbles that essentially end up shooting the wealth and income in the top 1% and leaving everybody else behind. we have had two devastating collapses. ben bernanke reflects the bubble, all of this money is circulated into the canyons of wall street, does not go out, and it shouldn't. stuart: you say there's no way around it. there's nothing anybody can do about this. speak of the interest rate isn't a real green market, is pegged and medicated. the five-year rate, 10-year rate, all of the fast money traders trading against the fed. if you think they

stockman predicts a big crash.ne is saying over time, something like that may happen but when? when? it's almost useless to predict something that may happen in 30 years versus two years, that kind of thing. how do you think this all ends? >> it's awfully difficult to tell when. it's like a person with the hairline sights on you with the gun. when does he pull the trigger? the point is when he does pull it, you're dead. it's like pushing a glass of water to the edge of the table. everybody says it's looking dangerous and then sudden it will happens, bang. connell: it will crash just like what stockman is saying? >> i think it's big time crash. so bad that, you know, the banks, for example, even in america who very far better ratios than the ones in europe are stuffed full of treasury stock and if interest rates value, they'll banks can't tolerate that. banking deposits in america, corporate and individuals are $10 trillion. fdic only has a quarter of 1% of that for cover so i could see bank -- long bank holidays an

they want to talk david stockman's stuff. they have got to learn there is something here besides money. there's a a nation and the requirement for a vision and a spobs to challenges to other values and the republicans are laying down right now. they have been defeated in two presidential elections. they may well be defeated in the next midterm 2014. if so, then we're going to start moving toward that --. we will cross that penumbra between we are and what david stockman is predicting. lori: i have to look that up. >> moving from the light to the dark. or reverse. it is dividing line. lori: no one says it more than eloquently than lou dobbs. 7:00 and 10:00 eastern. bob doll, nuveen asset management is lou's debt. he will discuss the market and these records after that last week. adam: cryptic announcement from facebook has the rumor mill in motion. is a facebook phone on the way? lori: please no. beat tale mania, autographed copy of sergeant pepper's lonely hearts club band shattering records at auction. ♪ . with the spark mil

so what do you think stockman's motives is? this piece got so much traction, and went totally viral, we're talking about it more than 24 hours later. >> let's face it, stockman has been trying to scare people about the budget deficit and things like this for at least 30 years and there he misses the point. the budget deficit is not the crisis, the crisis is federal spending itself. he didn't ask all the microsoft and google and intel, transportation innovation, they have never occurred precisely because the government is spending so much. stockman writes as though we have been living high on the hog for 30 years. think how much better we would be living if the federal government hadn't been spending so much. lori: if you say you have a problem with stockman, the real spending is the crisis. some argue six of one, half a dozen of another. >> deficit is another way of financing major government spending. a dollar is a dollar is a dollar. the crisis is here and now. we have to ask ourselves how much better our lives would be if th

stockman on this one. right now we're in a heap of trouble. most of the trouble, which we have talked about over the past couple years, comes from bernanke's policies. one of the main policies being that he is lending through the federal reserve money to the institutions at zero and then convincing them to buy back u.s. treasurery bonds with a guaranteed return. so basically a governmental ponzi causing more and more debt to be build up by our government to keep the markets propped up. >> read some esteems from what he -- items from what he had to say. i predict the latest wall street bubble will explode. here's another one. when they latest bubble pops there will be nothing to stop the collapse -- note the word collapse. if this sounds like advice to get out the markets and hide out in cash. it is. there's a lot of fringe people who are saying something like this, but you can't dismiss david stockman as a fringe guy. he is ronald reagan's budget director, successful investment banker you. can't just dismiss it, can you? >> you can't dismiss h

please welcome to the program david stockman. ( applause ) >> jon: thank you for joining us thank you jon: the book is called the great deformation. i read this this weekend on the plane. i was going to mars. holy smokes. you basically take us back. the premise is, if i may and correct me if i'm wrong, that this country went off the track in some respect with roosevelt. that the idea of the fed and managing the economy was kind of the departure point. yes? >> well it's like a narcotic. for a while the big deficits we've had, all the money printing from the fed worked. it did stimulate the economy. we had some growth. over time it becomes habit-forming. the politicians can't live without it. vent ally it begins to... >> jon: give me some of that. it then becomes debilitating. by then -- and that's where we are when we've had the serial bubbles, the dot-com total collapse. they reflaited the bubble and everybody got on board and we had the housing boom. that was phony. the credit boom and finally wall street collapsed in 2008. they

but in this one shocking time i think i do agree with david stockman, which is -- maybe not as strong as he says it but i think ben bernanke is making a huge mistake on monetary policy and will have bad 'consequences, and david stockman made mistakes in the reagan era, but i think bernanke is a problem. >> ben bernanke has been printing up a storm, and david stockman's critique goes wayon to benazir ben bernanke, all thy back to paul voelker. he is saying he just inflated -- created various bubbles with all this money printing and loose money policy. you think that is an absolute mistake right from the get-go? >> i think what he has done on he monetary policy is an absolute mistake and i don't think it goes back to voelker or greenspan. both of them did a good job. ben bernanke broke with the tradition of the fed by expanding the balance sheet of the fed or increasing the monetary bay's north -- bay's nm mousily. now we have huge amounts of excess liquidity which will lead to inflation, but even more so, the feds' balance sheet, they risk inkole veins si of the fed's balance sheet, an

permeating my blood, hi no clue that music would become my passion. >> women in the world, david stockman, clive davis when we continue. funding for charlie rose was provided by the following:. >> rose: additional funding provided by captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: the women in the world summit opens in new york this week. hillary clinton, oprah winfrey and afghanistan's first female presidential candidate among others will be there. the conference of course is the brainchild of tina brown, the editor of the daily beast and "newsweek". joining me with tina are shomchaudhy, managing editor of the indian "newsweek"ly, and zainab salbi founder of the women international. i'm pleased to have them here at this table to talk about this important conference and to have tina here to tell me what the vision is, and exactly what she opens-- hopes to see it be this year. hi. >> thank you, charlie. we're thrilled this year. we have an extraordinary women. some of the themes i feel strongly this year are could we be at a tip

stockman warns that washington needs to get issues fiscal house in order or the u.s.rmer director of omb for an interview that each and every american needs to hear. listen closely. >> sean: joining us is the one and only david stockman. how are you, sir? >> great to be here. >> sean: you are hated by the left and the right. >> i'm an equal opportunity critic, i guess. we are in a big mess and it has been brewing for decades. no one in particular is at fault. >> sean: i believe be people are at fault. >> there is no one at fault for the whole thing. we have been piling it on the wagon and now we have a dooms day machine called the budget that can be stopped. it is heading towards you know $30 trillion of national debt, i think in ten years. the fed is really off the deep end. has become a serial bubble machine that is crushing the sabers of america. you know, if you got a six month cd you get a half a percent. if you are on fixed income you are getting nothing. if someone was frugal their whole life and saved $100,000 to live in retirement, $400 a year is what you are

paul krugman and david stockman debate washington's response to our economic crisis. when we come back. ♪ [ male announcer ] navigating your future can be daunting without a financial plan. at pacific life, we can give you the tools to help you achieve financial independence. for more than 140 years, pacific life has assisted families and businesses in meeting their goals, even in uncertain economic times. let us help protect the things that you work so hard for. to find out how, visit pacificlife.com. ♪ to find out how, visit pacificlife.com. and every day since, two years ago, the people of bp made a commitment to the gulf. we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for everyone to enjoy -- and many areas are reporting their best tourism seasons in years. we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp take

that is the point that david stockman makes. banks what we've done, martha is basically created a big safety net underneath the big banks and the people who have been the victims of that are the community banks who don't have that level of protection and aren't able now to compete with the big, big banks. you mentioned goldman sachs, isn't it interesting at every stage of all the interventions goldman sachs came out spelling like a rose. i don't know if it's just coincidence that so many people in the government were at one time at goldman sachs. martha: what is the lesson now, i guess, because we continue -- the fed continues to print money. >> right. martha: at just lofty levels that are of great concern to a lot of people. what we're told by the administration is that you w really should -pbt be worried about it. we are concerned about the debt and the deficit but not that much, it's okay. >> martha the big question is how do you put the jeannie back in the battle. martha: very difficult. >> we have this massive infusion of m

ronald reagan's budget director david stockman versus austan goolsbee. then, america's debt and deficits going forward will largely be caused by one factor, health care. how do bring these costs down. the great debate we should all be having. steven brill and david goldhill present two very different views. also, anthony bourdain on globalization and food. what does he learn from eating stuff all over the world. >> that's good. >> i'll ask him. >>> and a lesson in ethics from an unlikely source. an emerging markets business titan. ratan tata ran india's biggest conglomerate and how businesses should live by a moral code. >>> i grew up admiring margaret thatcher. it was obvious to many of us in india in 1970s that economics didn't work and her forms were the right course. privatize industry and deregulate have largely been vindicated by history, but that doesn't tell us very much about what to do today. consider the world in 1979 when thatcher came to power. the average britain's life was a series of interactions with government. telephone, gas, electrici

. >> for republicans who refer ronald yaing's presidency what stockman is saying sounds like heresy. >> i was drummed out of the and they believe in economic magic. >> stockman just as hard on democrats and pro pro gresives who say don't touch my social security. he says the president should step up he should have been telling afluent retirees that we're going cut back your social security entirely. and that is because we cannot afford to pay 100 -- $800 billion a year sit costing. >> that have crisis he reflects will be the collapse of the bond market. he told me he's keeping his money in cash. >> that is fascinating right there. thank you. >> that notwithstanding wall street continues to outdo itself. a 4th day in a row the dow jones shot up by 62 points. chevron went up more than $1. what joined markets was upnick retail sales, ross chain reported higher sales. video jant clara chip maker said would it give back $1 billion by buying back some of its own stock. that dropped after it warned a key part of its business would be flat this year. and walt disney confirms it shanding out

first, i would like to introduce david stockman.u who were around during the reagan administration know his name well. he was the person who talked about supply-side economics or trickle down. with time, he became the little disenchanted with what happened with that and he will probably speak about that today. but he has been a politician, a businessman, after leaving government, he was at solomon brothers and blackstone group. at one time, he served as a u.s. representative in michigan. for his insights into the budget, he was the director of the office of management and budget from 1981 to 1985. he has written three books and the latest book which i am reading and is a fascinating read is "the great deformation, the corruption of capitalism in america." also with us today is david walker, again, a person he knows washington inside and out and the budget process inside and out. now he is the founder and ceo of comeback america initiatives. he is talking about the debt problem and what needs to be done with it. prior to this positio

second awesomist thing is from congressman steve stockman.n staked a claim as allen west successor as most successfully trolling msnbc. he compared barack obama it saddam hussein and brought ted nugent to the state of the union and he sure does like to tweet. like things like, the best thing about the earth is if you poke holes in it oil and gas come out. stockman's latest offering to the world, today he tweeted o out 9 slogan his new campaign bumper sticker. if babies had guns, they wouldn't be aborted. i don't even really know how to begin to formulate a response to that indecipherable phrase. but his pure right wing performance art does havity own kind of brilliance. just when you think there's no hope for humanity, i bring you the third most awesomist thing on the internet. steve kornacki start as host of "up" tomorrow morning. he will bring thought provoking conversation to your week ends. but don't just take it from me, here is "up "super fan, the great carol king, wishing steve well on the "up "blog. >> i'm a huge fan of "up." i've bee

larry, i'm sure you're aware of a texas congressman named steve stockman.an lawmakerses who unerring sense of decorum allowed him to invite ted nugent to his address. today he tweeted out this bumper sticker for his campaign next year. it said "if babies had gun, they wouldn't be aborted." so is that the new slogan, larry? a chicken in every pot? a bushmaster for every baby? >> hello? >> hello, larry. i'm sorry. >> i lost audio. >> did you hear what i said? i quoted the great steve stockman and his magnificent new bumper sticker that said the "if babies had guns, they wouldn't be aborted." oh, dear. okay. don't worry. mr. ward, are you still with us? okay. david, what's your reaction to that kind of a statement by steve stockman? >> well, look, i think what it actually shows is that our politics are becoming more polarized and you see now politicians are essentially echoing what they hear in some of the most polarized right wing political media. that essentially -- >> polarized or stupid? >> well, both. both. i mean, you have essentially a right wing megaph

. >> david stockman says the president missed an opportunity and he says the economy is headed for another crash. progressives are houling the budget is a document only a republican could love. >> in 2008 he said he would not cut social security. >> in the 2008, then candidate obama did make a pledge but his budget now proposes limiting the growth of social security benefits but changing the way the cost of living is calculated. it ronald reagan's former budget director calls it a little bitty fix for a huge problem. >> i think we're going to end up over $1020 trillion in deficits unless there are big changes. >> he says defense should be cut by 50 to $150 billion and taxes? everybody should be paying more. >> not just 2% or oil companies or loophole that is targeted. middle class is going to have to pay higher taxes, too or we're never going to get this budget under control. >> and he adds social security should be eliminated for those who are financially secure. >> we can't afford to pay you know $800 bill a year it is costing. >> stockman says the government's borrowing from the social

. >> david stockman is here from 1981 to 1985 he served as budget director in the reagan administration since leaving government he has become an advocate for what he calls found money. his latest book is called 9 great deformation, the corruption of capitalism in america it is a controversy critique of the last century of american physical and monetary policy. i'm pleased to have him on this program, welcome. >> delighted to be here. >> rose: then there was a sunday piece which was called sundown in america. and then you made the case for why bank bailouts, massive government debt and unprecedented federal intervention into financial markets will doom the u.s. over the long-term. since then everybody has come out of the woodwork. most of them attacking you. so tell me about the origin of the piece. >> some of the themes are in this book. and basically saying that anybody who has anything invested in any market get out. >> well, i said that because i think it's pretty obvious that the fed has become a serial bubble machine. it's part of what i write about in the book there was much whoo

he spoke with david stockman from the reagan administration.e'll show you as much as we can until janet yellen gets under way. >> from the principles that made it great under which it was founded. we face a range of key sustainable challenges that threaten our future position in the world, our future at home and the tranquility in our streets. this year it is 23% headed to 27%. 100 years ago, the federal government controlled 97% of spending, now it controls 34% and it is declining. three things happened in 1913 that fundamental changed the united states. it caused the federal government o grow and expand. those three things as well as the the tendency of the supreme court to legislate rather than just interpret laws has expanded the federal government's reach. if you look at the numbers it the tough to follow trillions. last year, take off the zeros. if the u.s. government was a household, it earned $24,000. it spent $35,000. it charged $11,000 to the credit card, which is now $167,000. if you add its unfunded obligations for social security,

i guess we're not paying attention to the david stockmans of this world?i don't think so, stuart, but sooner or later, there's a confrontation coming. you've recited the news in the issues, they are spreading. i'm worried about contagion, for the first time we're now little scale selling, raising some cash. we've been in this market a long time and we are taking up some cash resevrve. stuart: that's what you and your company are doing, taking some money out of the market because you think that darker times are coming. >> a lot of events in the world are sending warning signals. china moving troops to a border with north korea. a contagion in europe. the euro zone, and the european union is about 600 million people. it's an economy, the large economy is larger than the united states. the growth rate is sozero and unemployment from 10 to 12 as you just reported in the the last two years, if you don't have robust growth, then there's a point at which stock prices get on a collision course and the profits aren't there to justify them. we are in an extended mar

thank you, david stockman. it is not just wall street that is politically connected.n governments have special privileges, they get all kinds of people. farmers are richer than the average american. why should they give money? when should assume that the hand that's good to the neediest farmers, but actually mostly rich farmers and people like pancho villa who owns acres of land in new jersey but pays only $100 in state property tax. because he raises honeybees' he qualifies for a honeybee subsidy. bruce springsteen and owns hundreds of acres of land up days little tax and because an organic farmer works his land. his poor neighbors pay more. >> it is unfair that i have to pay for an acre and have an airplane for hundreds of acres for $200. john: it is unfair that i was collected from another government program subsidized flood insurance. years ago about the speech else. thats the younger me there. the house is on the edge of the atlantic ocean, risky place to build, but i've built anyway because a federal program guaranteed my investment. eventually a storm swept awa

i mean, dana, you can't make this stuff up. >> steve stockman is a very special individual.ngress by the voters after he was elected in 1994 but today's republican party welcomes this sort of thing, reverend, and i think the polls sort of get to that. the country has moved on but the republican party is increasingly becoming defined by this core of conservatism. so i don't think it's surprising that radio or television hosts are going off in that direction because they are preaching to that same segment of the culture that hasn't changed with everybody else. so you're seeing things occur on tolerance towards gay marriage, towards immigration. but you're not seeing that segment. i think the republicans, by embracing that pure conservatism, not allowing the more tolerant element into the party, are sort of heading for a marginali sdplchlt ation. >> but doesn't that help the president. the more slil they become in terms of their tolerance only makes more americans understand how they can identify with them? danny was talking about radio and tv people glenn beck is comparing the

thank you, david stockman. it is not just wall street that is politically connected.n governments have special privileges, they get all kinds of people. farmers are richer than the average american. why should they give money? when should assume that the hand that's good to the neediest farmers, but actually mostly rich farmers and people like pancho villa who owns acres of land in new jersey but pays only $100 in state property tax. because he raises honeybees' he qualifies for a honeybee subsidy. bruce springsteen and owns hundreds of acres of land up days little tax and because an organic farmer works his land. his poor neighbors pay more. >> it is unfair that i have to pay for an acre and have an airplane for hundreds of acres for $200. john: it is unfair that i was collected from another government proam subsidized flood insurance. years ago about the speech else. that is the younger me there. the house is on the edge of the atlantic ocean, risky place to build, but i've built anyway because a federal program guaranteed my investment. eventually a storm swept awa

stockman, but the hyperbole he used about chairman ben bernanke, i think that is way off base.ll, every's entitled to their opinion, right about that, imlad for yours today. pleasure to have you in a studio. >> my pleasure. connell: good to see you. thanks a lot. dagen: thanks so much. stocks now and every 15 minutes, lauren at the new york stock education change with more. >> five stocks now, all moving significantly, a broad picture of what's going on in the market today. consumer names here like macy's with an annual high, up 2.8%, and mcdonald's hitting an all-time lifetime high, up 1% over $is 100, positive comments from goldman on mcdonald's, but look at the -- csx down. transports down four days in a row. a tough session -- tough couple days for them as well. the toyota story is the bank of japan stimulus story. that stock up 4.5% right now. back to you. connell: lauren, thank you. dagen: china on high alert over the bird flu after a fourth person died from the new strain, h7n9. connell: fox news in thrapts has the latest develop. how concerned should we be? >> well, thi

first, i would like to introduce david stockman. those of you who were around during the reagan administration know his name well. he was the person who talked about supply-side economics or trickle down. with time, he became the little disenchanted with what happened with that and he will probably speak about that today. but he has been a politician, a businessman, after leaving government, he was at solomon brothers and blackstone group. at one time, he served as a u.s. representative in michigan. for his insights into the budget, he was the director of the office of management and budget from 1981 to 1985. he has written three books and the latest book which i am reading and is a fascinating read is at the great deformation, the corruption of capitalism in america. also with us today is david walker, again, a person he knows washington inside and out and the budget process inside and out. now he is the founder and ceo of come back america initiatives. he is talking about the debt problem and what needs to be done with it. prior t

>>reporter: now david stockman says taxes must be raised.h but also the middle class. in order to reduce the deficit. >> in order to overcome this legacy of deficit don't matter led by republicans who are supposed to be the conservative political party. >>reporter: republicans who reveer ronald reagan presidency what stockman is saying sound like hair situation. he said he was never a true believer. >> i was drummed out of the supply side cheating by the high priest running it art laugher and all those guy whose basically believe in economic magic. >>reporter: stock man as hard on the democrat and progressive who say don't touch my social security and says the president should step up. >> he should have been telling the wealthy retire that we are going to cut back the social security entirely. not just a little 1 or 2% but eliminate it or cut it back substantially because we can't afford to pay the 800 billion a year that social security is costing. >>reporter: he says it will take the another economic crisis to separate the political party

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in the guest spot, david stockman who served as ronald reagan's budget director.of the great deformation, the corruption of capitalism in america. i wanted to start with a quote that talks about the last financial crisis. we can talk about how you would have approached that and sort of move on for the future from there. you said, had this attack been allowed to run its course, hundreds of billions in long term debt and equity capital would have been wiped out including huge amounts of stock owned by insiders. such a result would have been truly constructive. it would have been been planted in a biting 1930s style lesson about the deadly dangers of leveraged speculation. so should we have done nothing in response to the last financial crisis and just sort of let people suffer and let the market forces work themselves out? >> yes. the financial crisis was entirely in the canyons of wall street. there was no risk of a great depression, 2.0. that was a cover story for bailing out goldman sachs, morgan stanley. the data shows it wasn't remotely possible. morgan stanley

former reagan budget director david stockman is coming here. i think he's coming to talk about lots here. this guy's got some radical ideas. this is "hardball." the place for politics. weigh you down? as soon as you feel it, try miralax. it works differently than other laxatives. it draws water into your colon to unblock your system naturally. don't wait to feel great. miralax. >>> well back and forth they go in virginia. what promises to be the hottest race of 2013. the hardball score board. according to a new mary washington poll, terry mcauliffe with a one-point lead over ken cuccinelli. 38%, 37%. a lot of undecideds in that race. look at that. that could go easily either way. we'll be right back. >>> we're back. the great day to stock, ronald reagan's budget director, but today, he has harsh lessons to deliver to democrats and republicans. in his new book, everyone from president roosevelt, to reagan, bush and obama are criticized heavily for helping to wreck the country's economy. stop and sees a rogue central bank. too much wall street in

jonathan, just an example of the conservative fervor, republican congressman steve stockman has tweetedarlier "the best way to honor baroness thatcher is to crush liberalism and sweep it into the dust bin of history. what are you doing this morning?" why is it she inspires that kind of devotion? >> because she got it done. most conservatives are big talkers, but they don't have the political skills to actually deliver on what they're saying. to turn their ideology into action. and margaret thatcher and ronald reagan were able to do that. and that's why they, you know, they would like to see them on, both of them on mt. rushmore. i think if they could carve her in there, they would want that as well. what's interesting to any, though, is that in some ways, both thatcher and reagan on the larger issue of the day, which was the cold war, not, you know, taxes and budgets in britain. >> domestic policy. >> domestic policy. >> the larger issue of the day, she was not a radical knneocon, not a super hardliner. she met gorbachev before ronald reagan did. >> she did. >> her line upon meeting him

farah stockman of the "boston globe" and once again, david boeri of wbur public radio. farah, just a short time ago the shelter in place order was lifted and mass transit is going to start moving again. but you have to move across boston to get to this camera to talk to us. what was it like in the city? >> peoplwere starting to move around a bit. there were a few cars on the road. but the streets are very empty. i happen to live a block away from the suspects and so i was woken up this morning with people calling me saying "hey, there's something going on on norfolk street." and as i walked down there cops wave med down and said "you have to go back inside." so it's been -- a lot of people have been staying at home. >> suarez: david, it is one of the largest metropolitan areas in the country. it must haveeen odd to see it deserted on a weekday. >> more than odd. what you're seeing here today-- as harrowing as this situation is, the fact that there are people running around with bombs and shooting at police-- 87 square miles of this metropolitan area were shut down locke

>> yes. >> you know, i hate to agree with david stockman because i don't like him very much, but he's little overstating the case, but he is right. ben bernanke is causing problems for the next decade and their fed solvency issues and also the excess reserve issues of printing money and getting an increase in the money supply and having inflation coming up and you know, there are ways of getting around this and solving it, but he's surely not going to do it. stuart: an exasperated art laffer joining us this thursday morning from tennessee, i think, right? the retirement capital of the planets? >> dave ramsey is from tennessee, too, a good friend of mine. he's on your show in a few minutes so you've got a tennessee contingency now. stuart: very powerful contingency i'm telling you. >> thank you, stuart. stuart: it seems every day we get another unintended consequence of obamacare. higher premiums, fewer doctors, more red tape. got it. now at 10:35 we'll talk to the man who says the new law is bankrupting america. and bill o'reilly is joining me and believe me, do not miss this, strong

former reagan budget director david stockman is coming here.ots here. this guy's got some radical ideas. this is "hardball." the place for politics. what a customer thought? hi nia... nice to meet you nia, i'm mike. what do you drive? i have a ford explorer, i love my car. and you're treating it well? yes i am. there are a lot of places you could take your explorer for service, why do you bring it back to the ford dealership? they specifically work on fords. it seems to me like the best care. and it's equal or less money, so it's a value for me. get a free brake inspection and brake pads installed for just 49.95 after rebates when you use the ford service credit card. who doesn't enjoy value? blast of cold feels nice. why don't you use bengay zero degrees? it's the one you store in the freezer. same medicated pain reliever used by physical therapists. that's chilly. [ male announcer ] bengay zero degrees. freeze and move on. as soon as you feelon it, try miralax.grees. it works differently than other laxatives. it draws water into your colon to

david stockman says disaster either way.ter. ♪ stuart: when bernanke stops printing, the party is over. this is a man who said ripples through the financial universe. his name is david stockman. welcome back. >> thank you. stuart: that dow is up for 200,050. if bernanke heads he is stopping printing money, we go straight down. if he keeps on printing, we have a different crisis and the market will go down. >> yes. they have the money market rate at zero. they have managed and rigged the entire yield curve. nothing is real out there. now the speculators are basically say as long as the fed can hold the bond price of and keep shoveling out free overnight money, it is safe to get in the trade. they are not there to own it, they aren't there to rent it. stuart: bernanke and he will stop printing or some kind of financial crisis because he is printing so much. >> you cannot predict these things. they are like black swans. you can disable the interest rate mechanism of the financial market. everything is trading again so what the

. >> suarez: for more from boston about the latest we turn to farah stockman of the boston and two of our public media colleagues are joining us by telephone from watertown ... what did you see this evening as it entered the final chapter in the capture of dzhokar tsarnaev? >> well, this has been an extraordinary culmination of a day. for a longtime today, for several minutes, four, five, six, seven eight vehicles passed by this area. i'm on nichol street in east watertown. they sped to franklin street. at franklin street they made a left and there they were joined by other police forces surrounding a home there where the individual they were looking for, they felt was hiding. he was indeed hiding underneath a tarp. there was an efforts, i was told, by two police officers aknown mussy -- anonymously that they wanted to capture him alive. they fired tracer bullet into the air. i don't know if there was a gunfight as reported. i do understand that the suspect incurred injuries but some type of altercation, perhaps some type of gun fight ensued. >> suarez: do you know if there was an att

david stockman. off the show. >>> when we return let me finish with how the country needs a leader on gun safety and a lot of other issues. we'll be right back. this is the place for politics. . but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ [ male announcer ] book ahead and save up to 20 percent at doubletree.com, so you can sit back, relax and enjoy. doubletree by hilton. where the little things mean everything. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry