the economic logic is not there. e cuts that ryan is proposing is going to deepen the recession that we're in. >> eliot: you mentioned obviously, deepening the recession which brings us to the issue of the fiscal cliff which is now looming as we approach year end. how should we confront this issue. there is a reality that if tax cuts and sequestration all come together in a negative way could push us into a double-dip recession, what's the best outcome here? >> the best outcome is to quit talking about this subject in a very very narrow way. it is to open all of the options and the options that we're talking about is we have to deal with revenue generation. we have to deal with wall street reform in a real way, creates revenue. we have to deal with the issue of medicare and social security. in a very positive way by protecting them. and we can do that and still deal with the crisis. >> eliot: i want to pick up on something you just said. an idea that i think is a brilliant idea that has not been discussed often enough

the chairman and c.e.o. of young jim jim thank you very much for being with us my pleasure so do you think it's a logical shift for russia to turn towards asia given the economic crisis that we've got on board i think it's very logical and i don't think it's just because of the economic crisis in europe i think we are living through a very big shift right now a shift from a century really where the center of economic activity in the world was the atlantic ocean in the north atlantic in the region on both sides to the pacific north and south in the regions on either side of that and so i think the apec is so important for just that reason i think russia's pivot not ignoring europe but really amplifying their efforts in asia pac is very very smart all right one of the main goals today is liberalizing trade now the russians in the w.c. oh how far can they go but i think the w t o ascension was incredibly important the leadership that the russian government showed was great and i think it's

to ponder the world of plato and aristotle and the age which laid the foundations for western thinking about economics, democracy, logic, and more. the stoa of attalos, from the 2nd century b.c., was rebuilt in modern times to house the agora's museum. with so little of the agora still standing, this reconstruction makes it easier to imagine the site in its original glory. crowds would gather in shady porticos like this to shop, socialize, or listen to the great philosophers of the age. in fact, socrates spent much of his life right here, preaching the virtues of nothing in excess and urging those around him to "know thyself." the temple of hephaestus, one of the best-preserved and most typical of all greek temples, dates from about 400 b.c. like the parthenon, it's constructed in the simple doric style. it housed big, bronze statues of hephaestus -- the blacksmith god -- and athena, patroness of the city. greek architecture evolved in stages. the capitals, or tops of the columns, were both functional and decorative. while just the tip of the architectural iceberg, these are handy indicators, helping us identify the th

did not show the warmth between russia and china which friendship are seen as a strong asset to economic recovery dimitri medvedev reports now from the city of light of our stock. one logical person was rounding out the results of the two thousand and twelve form which russia posted for the first time he basically again praise the fact that apec is extremely important as a region and as an organization it accounts for around fifty percent of the global economic output and global trade and therefore the shift is happening globally towards this region and russia is no exception and. china plays an extremely important role as a driver of global economic growth actually in an exclusive interview that the president gave prior to this forum that it was and also stuart stated the importance of russian chinese relations china is indeed becoming a global economic and political hub china has taken up this new leading role by not only in russia's eyes but also in the always of the whole world what makes us rather special however is that russia and china are neighbors and you know social relations took thousands of years to evolve to where they are. over the coming years we are bound

november that the people do want agreement that the people do want some logical decisions being made the people do want to create jobs they want to spur economic development they want to protect the rights of all people including immigrants and others who would come to this country and i guess matters will be in the hands of the people and that's where ultimately they always are and i think we'll see the changes occur in november and congressman we're almost out of time but i do want to ask one quick question and a sense of us can you tell me the one bill that you would like to see passed before congress is out of session well i'd love to see the farm bill passed farmers need relief we had a tough summer drought and all kinds of things happen and love to see a transportation bill so that we can do some of all these infrastructure things that we need to do and i'd really like to see. but the people can reliable they would use they'd know what to expect and the most likely to see that was danny davis u.s. representative from the seventh district of illinois now there are several important congressional elections coming up along with the presiden

the economic landscape. they come every five to seven years. we're four years into a recovery. and so i think it's very logical to worry and at the same time expect a recession perhaps, a global recession as early as next year given all the data we're getting currently even with the impetus of all the central banks pushing liquidity into the system. >> susie: all right so, what does all of this mean for investors and for the stock market. are we going to see a pullback because of all of these ression concerns down the road? >> well, it's very clear central banks are trying to maintain equity markets where they are currently so i don't expect a big pullback. i don't see a lot of room for upside either. i think the smartest way to go is a diversified portfolio and i think the single aspect to protect investors are corporate bond, high quality corporate bonds, solid companies with good credit ratings. >> susie: let's take a little bit more about what its options are, most investors especially the ones that are risk averse are concerned about putting their money still in equities. and the other hand there are very

the summit and lot of us aren't really logical reporting there. our financial consultant. says the growing ties between russia and china counterbalance the influence of the u.s. both economically and politically the time between putin and hu jintao been extremely strong and this has frankly been at the expense of relations with the u.s. and not overtly obviously but when it comes to issues like syria and iran there is a great deal of court nation between the two sides on those political issues then you know these things spill over into the economic side as well of course you know we're starting to talk about how both countries handle the oil embargo that the u.s. has been sort of pushing on iran you know russia as a producer and china as a consumer they both you know the fact that they're harmonizing this really sort of helps to. counteract u.s. u.s. influence and the ability to which the u.s. can exert its influence on its european allies in asia and japan specifically so we're seeing a lot of that and we have more live updates and analysis from the apec summit in russia's far east so join us for that throughout the day. to europe now where debt crippled greece is brace for m

because the two people who have converted more people to both the austrian economics and libertarianism combine both but it need not be it's logically possible for one to be a libertarian and not an austrian or to be an austrian and not a libertarian but as a matter of fact there's a high correlation i think virtually all austrian economists that i know of nowadays are libertarians and of all the economists who are libertarians i would say ninety percent of them are austin economists ok so a lot of crossover there so now let's get into a few of the debates because one that we had in our editorial meeting this morning when we were discussing your interview was the issue of the corporation as an individual we know the supreme court ruled essentially that a corporation is a person libertarians are defenders of individual rights so isn't there a conflict and a hair and practicing unbridled law is a fair economics when corporations have the same rights as people. well corporations wouldn't be an individual they'd be a group of stockholders in the corporation and what they're what they are is a limited liability corporation so if you deal

rearrange so what was lost in the economics is indicated more and more unequal is recouped by using politics. where the majority votes, where the majority rules is a perfectly logical way of thinking. and this has occurred to the rich as well. and to the corporations as well. so the more the system produces inequality, the more urgent it becomes for those benefiting from the inequality capitalism producers to control the politics because the alternative would be good. they're not going to do that. they're not going to allow the political system to function undoes what they have achieved in their mind in the economic system. they're not going to do that. see you can watch as america becomes more and more unequal, then it becomes necessary for politics to become more and more dependent on the money, dependent on the corporations to provide contributions to the economy, to the party more important than those things, the army of lobbyists shaped what goes on in the normal business of government and perhaps most important, all the think tanks, all those apparatuses sicko amount shaping how we think about the problems of the world, wickets in the media and newspaper. so

>> disapti the union has every right to represent the economic interests of adults and the mayor's got a duty to balance his budget and so it's logicale there, but where's the strategy to make sure that poor kids gain the power of knowledge? chicago's results are abysmal. when you compare them to new york, they're not cutting it. or compare them to miami-dade county where you have low-income kids doing significantly better. th stregies of learning are goin higher pay and gof greater job protection. >> and in chicago, we've got the highest paid teachers in america and some of the worst results. >> and gets to the point you alluded to, the degree of difficulty, the cultural degree of dfiy inliit k from, you know, sometimes single parent homes, sometimes no-parent homes. talk about that a bit. >> well, the problem is, we see this and we go, well, we can't have the same high expectations for the newly arrived kid or the child that's ling in the i city as weo for parents or children of parents of higher income. and we end up creating this dual system and it's completely wrong. it doesn't work. we need thave highe noowarents to be much mor

that what we lost in the economics which have become more and more unequal is recouped by using politics. with the majority of votes, with where majority rules this is a perfectly logical way of thinking. and this has occurred to the rich as well. and to the corporations as well. so the more the system produces the inequality, the more urgent it comes for those benefiting from the inequality of capitalism than and those that control the politics. because the alternative would be self-destructive and they're not going to do that. they're not going to allow a political system to function that undoes but they have achieved in their mind in the economic system. they are not going to do that and so you can watch as america becomes more and more unequal that it becomes necessary for the politics to become more and more dependent on the money, dependent on the corporations that provide contributions to the economy and the party and more important than those things, the army of glaubius who shape what's going on in a normal business of government and perhaps most importantly, all the think-tanks, all those apparatuses that go around shaping how we think about the problems of t

devaluing the dollar through quantitative easing and based on that only logical to devalue the debt we're paying out because the dollars are worth less and less. >> and you may have seen the economicmost competitive nation in the world, ranking in 2008 when this president was elected and now number seven behind countries like finland, sweden, switzerland. does this surprise you? >> no, not as much. clearly we're putting up barriers from economic growth. from the health care angle and again, i'm one of the dollar people, i think the biggest driver of our economic malaise is a weak dollar and again, the reason for that is you're devaluing the income streams that bring investors into the marketplace to begin with. if you look throughout history look at zimbabwe, germany, germany between the wars, it's the country that devalues, you can't devalue your way to prosperity and it's the rich companies that main strain a strong currency like england, like the u.s. historically. >> thanks, john. not so fast, ahmadnejad. one man demanding the iranian's hotel room booked tore his upcoming visit to the u.n. he's here to tell us why. and a major mix-up at a stay tuned. teachers sending a kinderg

logical, more equitable, more growth-oriented tax code. why, we may ask, is tax reform so urgent? earlier in month, the world economic forum released its new global competitiveness report. america is not alone in trying to create jobs and grow our economy. we're competing with other economies, other countries around the world. as recent as 2508, the united states was ranked the most competitive country on the planet. in the latest index, we felt we were heading in the wrong direction when it comes to competing in the global economy for the jobs so that americans can work and provide for their families and put food on their tables and gain the dignity that goes along with working and providing for your family. harvard business school also recently surveyed 10,000 of its alumni to find out their views of american competitiveness. harvard business school, one of the premier business schools in the country. alarmingly, 71% of those respond -- who responded said america would become less competitive during the next few years. in other words, they weren't optimistic about the direction of the country when it came to compet

that is the awful logic of where we are headed. you see the forces of economic power, corporate power, telling workers in this country they have to be competitive in a global marketplace. that means being combated with prison labor in china or sweat shop workers and bangladesh. we saw the great labor advocate mr. islam being murdered by opponents of any kind of labor organizing they were 22 cents an hour, $37 a month. that is the world we are headed for. it comes right back to the chicago strike because none of the established systems, formal systems, including the two political parties, will help us. that was the importance of the occupy movement. it stated the fact we're on our own now could >> your vote you started before -- he started your book before occupy, "days of destruction, days of revolt." >> yes they can modify everything human beings are commodities, the natural world is a commodity, but they exploit until exhaustion or collapse and we see that with the melting of the summer arctic ice. what is the response of our corporate overlords, to raise thos