david stockman, former white house budget director under president ronald reagan.s big collapse coming. why do you think that? >> yes i do. the combined central banks in the world have created most fantastic financial bubble in recorded history. when you look at 80 months of zero interest rates, that is where we'll be assuming they raise the interest rate in september and even that is uncertain. generated most massive subsidy to speculation in the carry trades imaginable. that is what is so bad about zerp. that is what is so destructive and counter productive what they're doing. melissa: you're not only one saying this. steven king from hsbc, their chief economist also out with a note talking about the titanic global economy collapse that could be coming. he was talking to neil about it earlier. listen. i will get your reaction on the other side. >> one obvious danger is that stock markets have risen too far, as far as the economy. they could correct quite a long way. that could be a trigger for recession. federal reserve finally decides to raise interest rates we

and i publish multiple books but your stockman trade is a list of authors and your relationship is very important and when you move houses you hope they will follow you from house to house and it is very gratifying. but i always say editors have to be patient people a good example is arthur brooks. over five or six years ago before he was made president at a. e. i. he already published a series of and was too busy to write books to fran have five or six years later i have another book coming out that i think is very important because i hope it will open up a new type of discord to encounter the conservative movement with the right to break an element -- brain element but it'd say bookend to a famous volume called the conservative mind. with that intellectual movement. and is a gsa is that liberal policies can best be achieved for crowded it is a brilliant sub for sieved booked and i am looking forward to your published very much also ted cruz of looking in june that will get a lot of attention. these are some of the books i have published in the past. have genu. >> banderas someone told

. ♪ >> band members nate morris, juanate morris and shawn stockman say they have done a lot of growingeir years together. >> with age you gain wisdom on how to do all things. you know when i'm saying? we're more in tune to our vocal ability. more in tune to trying to stay alive. all of those things play a big part in getting better. >> what are you doing to keep your vocal integrity. i think one thing is clear, when you think boyz ii men, you think vocals. >> i think the thing is we never stop singing. once we make a album, we don't go home and sit down. we have been literally singing and touring since we were 17, 18, 19 years old. the voice is like a muscle, the more exercise you get, the better it operate for you. that's all we know. ♪ ♪ >> clearly, you guys are the greatest r and b group of all time. what's your gut feel right now of what's going on with r and b today? smile' just say that r and b is not dead. you know, there are some artists out there that are trying to maintain the integrity of it. it's not just up of the to the artists. it's up to radio. it's up to the program di

david stockman, former white house budget director says stocks and bonds are on the verge of a collapse he has been saying that for a long time. people are beginning to listen. can't keep track of them all. former texas governor rick perry in the race for the white house. jeb bush is not that far behind. melissa: megamedia deal in the works. will personalities of the top fit together? t-mobile's john leg gear and dish ceo charlie ergen in talks to bring their companies together. david: we're looking right now at a very down market. the dow is down 170 points. all of the indices that we look at are down significantly. look at the price of crude by the way. a lot of people said once it went up above 60 it would stay there. not so. it will come down once again, down over 2%. about 2 1/2% today. the market has been down more, i think intraday, it was down about 195. melissa: still a sea of red here as we head into the close. there, that is the closing bell on wall street right now. [closing bell ringing] a steep stock selloff. david: what is happening overseas affecting the market a lot but