and here is tres knippa. i know you're not an individual stock kind of guy. ask you about facebook. i've never seen anything like it. that stock is up 30%. >> well, isn't it possible, stuart, that a lot of people may have really lowered their expectations for what the stock could do? because the stock performance has not been that great. let's look at it from the executives point of view and maybe the focus now that they are a public company. maybe now their focus is the stock price, not necessarily the user experiencee i've actually been a member on facebook, been a user and also been a user on the other side because i do own a small business. i've looked at the ads for marketing purposes and things like that. it wasn't right for me, but clearly, that's what they're trying to focus on and the stock price suggests that it's working. >> you've got it. i'm sort of digressing from a normal subject, but what's going on. we're off and running and the market is going to be down. this is the overall market and the dow jones industrial average is lower down about 17

seconds to the opening bell, here is tres knippa in chicago.oing to keep printing be and do you guys figure that in, do you care about japan at all? >> i care about japan because i have a fund that i manage that is short japanese government bonds which i think are one of the riskiest assets in the entire world and i think that the chance that the japanese are going to have a painful restructuring for a default, i think the chance of that happening is a virtual certainty. let's put into perspective what he's doing. this is the same thing that japan has done for 20 years, he's been pushing the button of spend, spend, spend, fiscal stimulus, they think the guy will push the button harder, but they may so some gdp, but that's not an economic plan. stuart: that's why you care. i'm not sure the rest of us do. tres, thank you. and the dow is up 15, 550, i should say, a slight gain, but the trading volume really slow in the middle of july, in the middle of summer. we've got disappointing profits and a rather luke warm sales picture at mcdonald's, so, n

let's bring in tres knippa. and ben bernanke is going to take questions. here is your chance.question would you ask ben if you were in a position to ask it? >> that's an easy one, stuart. i'd say chairman bernanke, you have gone on a historic amount of quantitative easing. you're going to keep interest rates at zero. would you mind showing me and illustrating the exact point in history where that strategy has workout, with no negative consequences? there's no negative consequences, times ten, stop messing around. stuart: if you asked him that question, what answer do you think you would get? >> oh, he's an economist so he'd paint a convoluted story about times that he's watched and this, that and the other, but the simple fact of the matter is, this is an experiment. that's all it is. he didn't know what the consequences are going to be and if he thinks that it's going to continue to work and he thinks there are no negative consequences let's put the foot on the gas. stuart: you still think he's going to print for a long time to come. okay. markets open, where are we going in

in chicago, tres knippa is standing by and i'm reading rex, a economist of some note saying in the latest through june, the economy may have contracted. what do you make of that? >> well, there are a lot of things that are providing a significant head way to gdp growth. the story in europe continues to get worse not better, but we're not told about that because everybody is trying to get angela merkel he elected in the elections coming up. and the story in china continues to be a shell game and maybe not the economic miracle we thought. and domestically i think that obamacare gets in the way of gdp growth and secondly i'll go out on a limb and say that the republicans are greetly blowing the immigration story. if somebody is willing to do more work for less money we should be sending them a bus ticket not sending them home. you grow gdp by increasing productivity and bring them here. stuart: wait a second, that roar behind you is the crowd looking at the stock market opening higher. they love this. they love it. because they think ben's going to keep on printing, and that's what's going o

before we get there, here is tres knippa. we've got 16,000 on the dow is coming soon. buying that? >> it's certainly possible. the momentum continues to work higher. the fed is clearly not, whoa, big surprise, stuart. weren't we just talking about that two weeks ago as we move and as you look through the fed minutes. is this anything that makes me think that the fed is going to possibly pull away? something about the fed. now, what an unexpecting money managers like me do for fun on a thursday night in chicago. there are two take aways, i want you to focus on. number one flat-out said they don't want to back away from huey and don't want to hurt the recovery from housing prices that work their way up. two paragraphs later it also talks about how real wages are not moving up. would somebody please inform me how the cost of things that we consume, housing, energy, you're about to take about in your next segment and food, the prices are going up, but real wages are not. it's dangerous and the federal reserve's fault. >> okay, you made your point. the other point he's goin

we're less than that to the opening bell, come in tres knippa.t the president wants universal profits, you make it there, we'll tax it there. no matter where the money is. that's a new principle, what say you. >> look at the principle that he wants to slash corporate tabs rates and saying that the tax revenues are going to go up by reducing taxes. wait a minute, has an actual economist managed to sneak into the white house here and give the president some advice? by cutting taxes, you increase tax revenue, that's an economic reality. we should be doing this. we should be be slashing taxes for corporations, slashing taxes for personal taxes and let's talk about one more thing, he wants to spend money on infrastructure. we should e privatizing infrastructure. roads and bridges should be built based on the economic benefit for that road or bridge. and it should be done by individual investors and not the government. and why is that hard to understand? >> i hate to cut you off. you're developing a following among some of our viewers indeed. thank you