the century british economic policy i'll tell you all about it coming up and then we have david stockman live on today show all be asking him about the policy of debt and laissez faire capitalism you won't want to miss that and finally in today's big deal i'm joined by boom bust favorite rachel perseus will talk about a new book that's making waves in the financial industry little crafts the wear off coming up and all starts right now. mr crabtree this is much use to the come to cyclones. what a wonderful lady. that was downton abbey and i truly do love that show now downton depicts the lives in a room of in a risk to credit family and their servants and post a warning in error england and before i get started i want to make it very very clear that this is a fictional television show about the lives of upper class crawley family and the british social hierarchy that surrounds them now just yesterday former treasury secretary larry summers wrote an editorial in the financial times a british publication just warning that the us is headed the way of downton abbey with the economy and social

for morrow and the director david stockman joins me now from our new york city studio to discuss yet but us budget deficit fed policy and much much more are now welcome david i want to jump right in and start off by asking you a lot of people that we've talked to recently on our show they're concerned about the destabilizing effects buoyant assets right now is this something that you're concerned with personally. very much but let me observe first that larry summers should know about fiction he's been just a fantasy economics fiction his entire career and is behind the policies of unlimited money printing that are behind this huge windfall that has gone to the one percent after all when the fed keeps the money market rate at zero for seven years which is its current policy and yellen is reaffirmed that it is essentially creating free money for the carry trades to engage in every kind of speculation known to man all over the world planning dangerous time bombs financial time bombs that one of these days will go off anything that can be traded reposed securitized options the fast money

it's a steve stockman twoeet.ressman trying to challenge john cornyn in texas. has probably zero shot. can you understand this tweet. he said if you're chilly tonight, huddle near john cornyn's pants for warmth. i cannot figure this tweet out. it made me laugh. there's something about pants, congressmen, senators. can you figure this out? >> i'm not going to on national television try to interpret steve stockman. however, matt bevin running against mitch mcconnell in kentucky, steve stockman running against john cornyn, they're outside contenders, long shots. but cornyn and mcdonnell are both nervous that with the debt limit votes, this could get some traction. >> does john cornyn wear wool pants? i can't figure out the attack. it was just one of those things -- >> like maybe those pajamas that are nonflammable. >> it's basically weird things steve stockman tweets. you believe probably start a whole show if anybody cared about what steve stockman was tweeting. thank you. we'll be right back. we've got our valentin

my invisible friend, steve stockman. it and you can imagine what an end venture that was.n, it was like being on a reality show, muslim big brother had. just me. i was there. at the just like on big brother stephen, michele, and louis actually created this really weird confession room video. have you all seen this? i mean, it was crazy. and i thought, well, was a crazy or was it just a covert operation to make us think that the entire region was stable? it works. i think recently it was fun to travel with these folks because you learn a lot about people when you are with them. and the road trip really was a blast. my family chair, the egypt in the venture went on just a little bit too long. really it was my own fault because if i had done even a little bit of research i would have found that if he spent more than five days with members of the tea party caucus pretty soon you develop a condition, and it is known as stockman syndrome. and it had you ever heard of this? you can find it on wednesday in the. she can find it right now. but you actually develop it after you spend

almost a foregone conclusion that once a week or republican congressmen like louie gohmert or steve stockman will say something ridiculously intolerant about women or minorities sensible conservatives try to say that people like gomer stockman are just a few bad apples but those conservatives are ignoring their party's own history the real agenda the republican party is to serve billionaires and transnational corporations because that group represents such a small number of voters they need to expand the tent it done this by aggressively courting bigots and racists along with the religious fringe. massaging the stick man and people who fetishizing guns it started when richard nixon manipulated white people angry at the civil rights movement in his one thousand nine hundred sixty eight presidential campaign he called it the southern strategy it was perfected when ronald reagan gave the first speech of his one nine hundred eighty campaign for president of the united states in philadelphia mississippi the place where three civil rights activists were murdered in the one nine hundred sixty s. th

former hole in the director david stockman joins me now from our new york city studio to discuss yet but us budget deficit bad policy and much much more now welcome david i want to jump right in.

politician businessman and author david stockman live on today's show you won't want to miss my interviewwith him plus a ritual curse is joins me in today's big deal to discuss kevin roose his new book out today called young money inside the hidden world of wall street's post-crash recruits and what shocking revelations of the financial journalist stumbled upon all researching his new book we'll tell you come right up now it's always interesting when rachel courtesy it comes on your show erin thank you so much and that's going to do it for me for now but for more on the stories we covered go to youtube dot com forward slash r t america and check out our website or to dot com slash usa and you can follow me on twitter at meghan underscore lopez stay tuned next. technology innovation all the developments around. the future avar. the the piece of legislation was terrible and they were i'm very hard to make out to let you get along here is a plot that you never had sex with her make their lives let's call it was. just say. listen the i'm . one of the subject. of the. i got a quote for you. it

syndrome, after you with steveal days stockman. jeff, there is nothing wrong with that. those are your people. but it was really bad for me. jeff and i have been fighting. we have been fighting really hard because when i developed stockman syndrome i wanted to do something about it. you guys are always complaining that we don't work across the aisle. we wanted to make sure that we would fight very hard for stockman syndrome to be covered under obamacare. we wanted to make sure that every single american, that every american has access to free birth control. take that in. [mixed laughter] work with a just a little bit. on the same trip, and this was the longest trip in my entire life that i have ever taken, that tells you how clueless i was to take this trip. they thought it was foolish to take this trip. there i was with michele bachmann. i discovered that we had something in common. decided that we are both really big fans of " downton abbey." michelle loves it so much that she sent me a family portrait she had made over christmas. take it in. these are the people i was

stockman in texas he's a congressman. he turned out to have prescription drug problems, disappeared from the campaign trail, ethics violations. a tea party challenger, quote, tea party challenger over the weekend revealed -- a radiologist -- >> milton wolf. >> terrible x-rays of victims with gunshots wounds, put them on his facebook page and mocked them. i think republicans of all stripes wan to win the election. that's why i think it's important to distinguish between the sentiment which will continue to be there in the tea party groups which will try to justify their existence. >> inning analysis. pointed out what did karl rove bring to me when i hosted fox and friends and will he bring it to "the real story"? the answer is no. >> let me explain this. in new york they gave me a bottle of wine. i don't drink and i gave my bottle of wine to you. now they figured out i don't drink so they bring me ginger ale which i do drink. i'll be happy to bring you ginger ale. >> thank you. how do i say this. thank you for not making m

. >> steve stockman in texas is -- >> we are paying a lot of attention to bevin. >> mcconnell's people are worried about bevin. they are not happy about this. >> they are foolish if they are not worried about it because if you look at the last couple of cycles, a guy has been way down and -- >> bennett, lugar. >> right. it looks as if -- and i've said it before -- that the tea party fever has broken here. so the dynamic is still there that somebody could rise up but the tea party doesn't seem to have the same power that they used to and we see it here in the capital with bill after bill we're seeing a much more marginalized -- >> in a sense, although they are more marginal because in a sense they have gone more mainstream, right? mcconnell is standing -- that is the bigger story in a sense. you played the clip of mcconnell citing my good friend rand paul over and over again and clearly the energy in the party in certain ways is with the previous tea party ways. figures like cruz, paul, mike lee, who has emerged as kind of policy guy for sort of potential republican reformers and to a c

syndrome, after you with steveal days stockman. jeff, there is nothing wrong with that.lly bad for me. jeff and i have been fighting. we have been fighting really hard because when i developed stockman syndrome i wanted to do something about it. you guys are always complaining that we don't work across the aisle. we wanted to make sure that we would fight very hard for stockman syndrome to be covered under obamacare. we wanted to make sure that every single american, that every american has access to free birth control. take that in. [mixed laughter] work with a just a little bit. on the same trip, and this was the longest trip in my entire life that i have ever taken, that tells you how clueless i was to take this trip. they thought it was foolish to take this trip. there i was with michele bachmann. i discovered that we had something in common. decided that we are both really big fans of " downton abbey." michelle loves it so much that she sent me a family portrait she had made over christmas. take it in. these are the people i was with. it is a little odd. i did not r

but if you thought stockman was the only buffoon in the lone star state, meet chris mac, according toer, the 53-year-old south texan told the editorial board earlier, that ranchers should be allowed to shoot on sight anyone crossing the boarder on their land and referred to them as wetbacks, and side note he called the president a socialist s.o.b. he defended his remarks saying the term wetback is as normal as breathing air in south texas. if that is truly the case, the particulate count is disturbingly high. while "the morning news" called the campaign clownish, he obviously has the -- under the big top. >>> after the break, strong polls and the big dog. should mitch mcconned by worried? that's up next on "now." [ male announcer ] whether it takes 200,000 parts, ♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ >>> i know i've reached the

that could explain everything steve stockman is up top. he is andy kaufman.piracy he is alive! this is now around -- >> into a tizzy because they are going to have a new lead at 2:00 p.m. about andy kaufman still being alive. >> we have to book the ghosts of andy kaufman. >> you don't have to book a ghost, joy! >> there you go. >> the best tease. >> joy, best of luck. >> thank you. >> you are fantastic, so everybody tune in. we love joy reid. >>> terry branstad is standing by. we will have more "morning joe" after this. ♪ ...return on investment wall isn't a street... isn't the only return i'm looking forward to... for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. >>> well, it's all right ♪ >> here with us now from capitol hill in washington, republican governor from iowa, governor terry branstad. i understand you're going to be meeting th

. >>> congressman steve stockman hasn't voted in a gop primary in ten years, even for himself in 2012 dallas morning news." he is trying to oust john cornyn case. >>> the supreme court turns up its knows from a smelly washing machine case. the suits claim a design flaw causes a musty order. >>> jimmy fallon will join chicago mayor, rahm emanuel in the polar plunge starting a hashtag called swimmy fallon. the mayor said, toughen up and take the plunge. he tweeted this picture of a wet suit and fallon said, he will wear a suit and tie. how appropriate. >>> joe biden on this series premier of "late night with seth myers." >> i was manniplanning on makin major announcement tonight but i decided, tonight is your night. >> amy, your 2016 plans? >> i'm going to run for president. >> great. >> that's your morning dish of scrambled politics. >>> i'm joined by ellis henican. >> do you have any announcements you would like to make? >> i have nothing for you. this is what i do want to do. i want to dig deeper into this arizona bill. it is so controversial. basically, what it is doing is saying pe

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slurry containment facility coal slurry is a really harmful kind of waste i was talking to a vivian stockman from the ohio valley environmental coalition she took some but as i said to you guys and maybe they can you know website later she was saying that the water was running all the way from the stream down to the cannot river and that they were actually packing in pieces of hay with wire to damp a river and dumping in big fish sized chunks of limes to build a dam to try to stop the black water from getting into the drinking water. that's amazing i had you know we have a fair number of viewers and listeners to my radio program and presumably is t.v. program as well. the both. direct you know there's a lot of rural folks watching those networks. in west virginia who called in we when we first when this first happened i had caller after caller after caller talking about how we always used to be able to you know pump we had a spring out back or we had a well out back and over there was cool you know i mean for generations for centuries and then they started this mountaintop mining back twenty

which was the chemical spilled into the elk river on january night another environmental activist stockman from the ohio valley environmental coalition she told me the same thing she felt she smelled licorice now it's interesting because the west virginia department of environmental protection says that no m.c.h. was spilled even though people all around her are smelling that chemical so it remains to be seen what what ultimately going to be done and the cleanup crews right now are you know working on gaming out the spill with bales of hay back together with wire with fish sized chunks of gravel and you know vacuuming up the coagulant with they are pouring a chemical industry the coagulant comes together and in the vacuum it up with this other machine they're working on the cleanup process right now as of as of right now even though all the coal is larry spilled into the cannot river that is not going to take for you just a lot of supplies so the smell itself and i hate to cut you off but you were talking about that licorice smell that was enough to close down a few schools even in these i

david stockman is trouble.ed us and we speak as -- speak to the fractious family known as the republican party. good morning, everyone. here live from bloomberg world headquarters in new york. it is thursday, february 13. joining me our expert on bruno mars, scarlet fu. rateeden's unemployment picks up slightly to eight point two percent. futures in europe that are trading down. meanwhile i'm in the u.s. we have retail sales that are a big deal. the weekly jobless numbers. the bloomberg consumer comfort index. 10:00 business inventories. likengs, pepsi, it looks it just comes out with earning slightly better. one dollar five science -- on $1.05. andting the dividend increasing the buyback to $5 billion. >> a big boost. >> that is a big deal. no prices yet. we will let you know when they do finally start trading. we should point out after the bell we have plenty of more earnings. aig, craft, truly up. government offices closed because of the storm. no yellen testimony because of the storm. >> correct. >> betty l

thank you follow it now this week some of our favorite guests wore most lawyer david stockman and while on the show were on the show discussing inflation growth and the state of the federal reserve now let's take a look. back at some of the most memorable moments from this past week check it out . incomes are dear to personal interim growth year over year in slippery. so we're near zero to take a view on how you look at it to look at it in the movie get into it the worse it works so personal income growth is slipping but then you'll get it in real terms after inflation it looks much worse that you get a per capita and worse forces zero level so sure you're getting growth in money to spend ok you get growth in things people buy just as much expense three summers should know about fiction he's been dispensing economic fiction his entire career and is behind the policies of unlimited money printing that are behind this huge windfall that has gone to the one percent after all when the fed keeps the money market rate at zero for seven years which is its current policy and yellen is reaffirme

the century british economic policy i'll tell you all about it coming up and then we have david stockman live on today show all be asking him about the policy of debt and laissez faire capitalism you won't want to miss that and finally in today's big deal i'm joined by boom bust favorite rachel perseus will talk about a new book that's making waves the financial industry little prats beware saw from an up in all starts right now. mr crabtree this is much use to the country is a cultist. maggie smith what a wonderful lady. that was downton abbey and i truly do love that show now downton depicts the lives in a room of in a risk to credit family and their servants and post a war to an era.

so they got this twitter stockman it goesspublic, it shoots up to these levels so at first i shortedsition in which basically takes the money off the table to say i will turn my 4 billion i'm sorry my 4 million cash investment into a $50 million investment then in addition i basically sold recalls to give you an example one month ago i sold 70 calls at $6 effectively if the stock went above $76 i poet lose money otherwise i would short the market. liz: it got as high as $74. were you getting nervous? limit no. this is all the ways of course, of a day like today it works out but i always believed this was just a lot of hype. twitter could become a great investment someday but right now it is a lottery ticket. liz: you started to shore it at 58? >> then more all the way up at 72. liz: can i ask how much you have made from the short? >> by average in the low 60s so i guess because i shorted it is about 2.5 million dollars. liz: would you buy a pack is there a price? >> i think that the opaque -- ipo price at 26 was a good value by jpmorgan has a price tag at 44:00 a.m. the numbers are a

. >> i was on arizona steve stockman's webside yesterday and he is running for senate and he has a whole site dedicated to should i impeach the president. of course he's trying to raise money on that. i think the long-term danger is really about the republican party more than anything else. it is sort of this hotbed of what might be politely called paranoid populism. this is a party that needs to expand beyond the south, beyond, you know, white americans, beyond older americans as well and these sorts of clips and this sort of language, very uncivil discourse about our elected president just doesn't help the party in those efforts. i think they have to figure out a way to contain this and move beyond it if they are going to try to broaden the base of that party. >> nia, i don't disagree with you in terms of the party, but i think i agree with joe that there is something that is very personally targeted, it feels like, towards this president, undermining this president that i actually think at a point becomes dangerous and very toxic for this country. and it's painful to see people not wi

and a couple young congressman, jack kemp and stockman and a couple other guys came up with the kemp-roth. that thing a year later helped elect reagan. helped probably revive the economy for a generation. and there's going to have to be something like that, an incentive for private sector business owners to hire people. >> and the important point is that these politicians in washington in both parties skr their eyes only on one thing. their jobs, as you said, how to get re-elected. neither party really wants to propose or cares about what is happening outside the beltway because the beltway is totally detached. the washington beltway is totally, that is truly versailles on the potomac. >> it's interesting because i'm seeing people agree with you on twitter. tim slogan says this, or tim sloan, excuse me, tim. if americans are now relying on the government to create jobs as opposed to the free market system, the american dream is over. >> it is over. you look at the polls. 80% of young people, indeed americans, are saying it is over, and that the lives of our young people will be more diffi

people like tea party texas congressman steve stockman who brought ted nugent, a man who the secret service investigated after saying he would be dead or in jail if president obama won re-election, he brought that guy to the state of the union address. this year. right now, waiting for a vote in the house is a senate-passed immigration bill. would start to fix america's broken immigration policy and finally unshackle 11 million people in this country from the terror of legal ambiguity. but the nugent caucus says no. and there is a direct line between the events that greg abbott held with ted nugent today and the fact that millions are still waiting for their congress to finally do something on immigration. nugent was there because the most passionate, committed, turned up part of the republican base views him as a hero and it is that same base that promises all hell will break loose if john boehner and house gop leadership does the right thing and brings up the senate immigration bill for a vote. i suppose we can at least be thankful no one in the house is as of yet proposing ted nugent's a

steve stockman appeared with many big named republicans and performed for texas governor rick perry'sion in 2007. he was on the board of the nra, a position voted on by some of the organization's members, which are more than 4 million americans. he's delivered speeches at the nra annual conventions and, of course, all of you know him as the rocker ted nugent. he's now "outfront." ted, great to have you with us. i want to get to the issue of whether you apologized or not. you were on ben ferguson's radio show and you said, i do apologize, not necessarily to. -- not necessarily to the president. people got upset on twitter to say that was not a real apology. ben asked you again, specifically are you apologizing to the president of the united states, you said yes. a lot of people still say you didn't apologize. did you mean it? >> erin, can you see me? >> i see you, ted. >> all right. i can't see you, so i'm at a great disadvantage because i glow and i know you do, too. erin, come on, you have this english language down really well. i bet you understand what the question is, do you apolo

cruz refused to endorse is one of eight republicans on the ballot, which includes congressman steve stockman and this guy. >> as a u.s. senator from texas, you vote for texas. you don't stab her in the back by voting for cloture for obama care and you certainly don't do all this to please some guy who looks and fights like a turtle. i'm a texan. we don't need a belt white turtle telling us how to fight. >> i like turtle soup. >> really? >> i'm dwayne stovall and i approve of this message. >> republican leader mitch mcconnell is facing his own primary fight, of course, against tea party candidate matt bevin. he was forced to defend the raising of the debt ceiling and how senate republicans view their constituents. >> in the 13 months i've been in the senate, it has become apparent to me the single thing that republican politicians hate and fear the most, and that is when they're forced to tell the truth. it makes their heads explode. and actually, debt ceiling example is a perfect example. the republican members of the senate, they all wanted the perfect show vote. make no mistake about it. t

i think representative stockman who has a very checkered career and a third candidate are not going tot threats to senator cornyn apart because he has taken nothing for granted. he has worked very hard. >> it certainly does like a wedge in this unity within the party when you see this, no? or yes? people would be more comfortable if cruze took the attitude i'm going to support my colleagues. that was his decision. his decision to raise money for outside groups attacking the -- some of his colleagues. he eventually stepped back from that at least from the senate conservative fund. why he, after assuring that his colleagues that he wouldn't raise money against them, he would sign a second letter for the madison project is sort of strange. but, look, it is what it is. and i thought charles krauthammer earlier this evening had a really good response on bret baier, what's interesting is there are disagreements about tactics, not about the strategic goals. the republican caucus is unified. and the idea of repealing obamacare and replacing it with market-oriented reforms that really do allow

then come march 4th we'll see texas senate primary, john cornyn versus steve stockman.republican conference will take place two days later starting on march 6th. then a very big congressional special election in florida on march 11th. so craig, a lot of stuff for us to talk about in the next two or three weeks. >> have a good weekend, my friend. still ahead all eyes on arizona governor jan brewer and whether she will sign that controversial bill that critics say allow discrimination based on religious beliefs. we're going to talk to the executive director of the arizona democratic party. ogena® pore refining cleanser. alpha-hydroxy and exfoliating beads work to clean and tighten pores so they can look half their size. pores...shrink 'em down to size! [ female announcer ] pore refining cleanser. neutrogena®. [ male announcer ] the rhythm of life. [ whistle blowing ] where do you hear that beat? campbell's healthy request soup lets you hear it in your heart. [ basketball bouncing ] heart healthy. [ m'm... ] great taste. [ tapping ] sounds good. campbell's healthy request.