this reflects the tragic underinvestment in the resurgence to tb in the last 20 years. >> thank you so much for being with us today. >> that is all for this special edition of the health show. but if you want more, you will find reports and useful links on our website, where you will also discover how to get in touch. >> next time, a pioneering new development in surgery. how surgeons can operate right inside of a beating heart. guiding instruments with millimeter precision with powerful magnets. >> it is a new way to correct irregular heartbeat and prevent strokes. goodbye. >> see you next time. first came here in 1995 >> today on "earth focus"... restoring the earth, shaping the future. john liu on solutions from china, ethiopia and rwanda. coming up on "earth focus." [drumming] >> this is china's loess plateau. until recently, this was one of the poorest regions in the country. a land renowned for floods, mudslides and famine. but with the fanfare comes the hope of change for the better. my name is john d. liu. i've been documenting the changes on the plateau for 15 years. i first c

credible economist will tell you it's been a huge drag on this recovery, and it means that we're underinvestingn the things that this country needs to make it a magnet for good jobs this gridlock's gotten worse. i didn't think that was possible. the good news is a growing number of republican senators are looking to join their democratic counterparts and try to get things done in the senate. so that's good news. for example, they work together on an immigration bill that economists say will boost our economy by more than $1 trillion, stlenten border security, make the system work. well, you've got a faction of republicans in the house who won't even give that bill a vote and that same group gutted a farm bill that america's farmerers depend on and america's most vulnerable children depend on. and if you ask some of these folks, some of these folks mostly in the house about their economic agenda how it is that they will strengthen the middle class, they will shift the topic to out-of-control government spending despite the fact that we've cut the deficit by nearly a half as a share of the econom

. >> they didn't negotiate the deals and underinvest in the pension fund.as two pension funds. one for police and fire, and one for sort of general employees, which is the larger one. that pension fund is a mess. 30% of the investments are in real estate investments that have never returned a profit. there's no accountability. >> so the political managers said let's invest in this and it made no money. >> somebody's friend, someone's uncle, someone's cousin. and that pension fund is under investigation as we speak. >> i see the pension board paid $22,000 to spend four trustees to hawaii. >> this is at a time when the pension fund is headed for bankruptcy itself. once again, it's not the pensioner's fault, it's the fault of people who are mismanaging the fund. it's the fault of union contracts that the city could never afford. >> but the politicians say, i want to say yes. these guys will elect me and when the bomb hits, i'll be long gone. or do they even think that way? >> cities all over this nation deal with those kinds of problems. and the problem in the

fannie, freddie, fha, is that in this country generally, we are overinvesting in housing and underinvestingtal. >> by the way, i'm opposed to the mortgage reduction. i'm opposed to it. if you have a low flat tax rate, it doesn't matter, it's not worth anything. >> then why do we say it's better to build a home than a factory? >> obama is talking about these manufacturing institutes but he wants to have homes, wants to have everything. wants to spend money on everything. can't do that. that's not the way it works. can't spend money on everything. >> i tell myself that every day. >> got something cooking? >> i promise you -- >> have you sold larry one of those million-dollar homes yet? >> thank you to steve and ryan. be sure to catch ryan on "million-dollar listing." >>> now, the big s.e.c. case against the ex-goldman trader wrapped up today. now it's in the hands of the jury. we've got an update on that and more just ahead on kudlow. >>> welcome back to "the kudlow report." three penn state officials will stand trial for allegedly covering up sex abuse of young boys by former football coach

you still have the vast majority of professionals and retail underinvested. the average strategist on the street has bumped up their allocations to equities but only in a minor way. still under 50%. kind of embarrassing at this point. hedge funds are chasing. they're using the small caps with leverage. you can see it everywhere. >> russell is hitting a new high. >> that's how you catch the s&p. >> up nine of ten. you mentioned the stock portfolio. a stock portfolio right now filled with what? if the market, murph, is getting the message, what do you want to be buying right here? >> first of all, you want to be in the financials. we've talked about it for a long time now. we know at some point rates are going to go higher. whether that's next week, next month, who cares. >> for the right reasons, good. >> for the right reasons, great. i think better than good. for the wrong reasons, we have a major problem on our hands. if you look at the quarter that came out of these financials, so far i think you haven't had a misstep in the group. they've all had good quar

i think the world is profoundly underinvested in u.s.luations especially with this little pullback we've had i think are pretty compelling. tracy: that is interesting too. you make a great point the rotation is out of non-u.s. equities into u.s. equities not so much into bond, right? if everyone is pouring into u.s. equities where are you finding buying opportunities? >> you have to take them, you know, on a stock by stock or a theme by theme basis. one of the themes that i see, i read a report out of mayo clinic about six, seven, eight months ago now if you smoke in your later years your health care costs go up by additional 20% a year. if you're obese they go up by 50% more a year. and i look at my contemporaries moving into 60s, still eating mcdonald's hamburgers and not walking or exercising and @etting type one diabetes. so i own a lot of diabetes stocks. tracy: it is morbid but a great play. technology is undervalued as well, isn't it, jeff? >> up until the utilities swoon, utilities were more richly valued than technologies sugges

i come here disheartened to see this bill come to the floor that is underinvesting in something that is critical to the nation. flood protection. amongst the many infrastructure issues, it's one that imperils many districts, including my that for ve systems 75 years have not been addressed in a way that they need to be. all around us, whether it's in my district or anywhere across this country, infrastructure problems abound. whether it's roads, whether it's bridges, whether it's airports, whether it's deep harbors, whether it's school ystems or whether it's levees. they are in need of repair. they are in need of our investment as a nation. the great irony is that in these difficult economic times what we need is to put the country back to work. what is required for the country to go back to work is to improve the very infrastructure over which our commerce grows and flows, that provides our economy with the kind of boost that it needs, that puts our people back to work. i've heard person after person get up and cite china on the other side, talking about their vast development. how

we systematically underinvested as a country on the education of our own children. there are over 40,000 high schools in america, but this year the number certified is only 2250. senator klobuchar, we are so grateful for the work that you have led it has created the model for a national stem education fund in this follows much of that model. i hope that you might improve it even further. raise the fees n some green cards and invest that money in american people so we can provide her own children with educational opportunity they will need to develop the skills in an increasingly competitive world. as a company, microsoft spends more on research and development than any other company in the world. $9.8 billion each year. yet we spend 85% of that money in one country. this country. the united states. our industry has come to washington because we want to keep jobs in america. we want to fill jobs in america. we want to help create more jobs in america. we know that in the short run we will need to bring more people from other countries to america. we hope that in the

the reason we have such a shortage of high-skilled labor is because we've systematically underinvested as a country in the education of our own children. consider this, there are over 42,000 high schools in america. but this year, the numbers certified to teach the advanced placement course in computer science is only 2,250. senator, we're very grateful for the work that you and others have led to really create the i-squared proposal, the i-squared act. it creates the model for a national stem education fund. and this bill follows much of that model. but i hope you might improve it even further. raise the fees on visas. raise the fees on some green cards and invest that money in the american people. so we can provide our own children with the educational opportunities they'll need to develop the skills to compete in an increasingly competitive world. as a company, microsoft spends more on research and development than any other company in the world. $9.8 billion this year. nd yet, we spend 85% of that money in one country, this country, the united states. our industry has come to washi

jeff, does bowman need to have a moment where she realized she underinvested in coke and that coke andthe business and say this is what we do. this is the core of our business and this is what we need to protect and this is how we need to identify how we're going to protect it moving forward? isn't that what people need? >> simon, that, of course, was not in the moment, but just to provoke you, of course, she would be in favor of not investing a nickel in coke. she would invest it in pepsi. >> fair point. >> she's investing in a multi-headed way is investing in businesses of the future with a sustainability and better nutrition issues and a better world. it hasn't been removing anything and it's been addaing some focus back on the home front. with ballmer, that's not the issue though, is this is an issue where the company, i don't see them heaving off major pieces and this is not time warner and letting off of the cable business and repositioning and this is now, as they're moving forward, when you see half of their revenues coming from these new businesses and. >> $40 billion out of $

private sector story, as you have been talking about all morning, but sometimes the private sector underinvestsome critical pieces like clean energy, like manufacturing policy, and those kind of public investments can actually interact with the private sector to generate more growth. >> let me ask you, a, do you think strategically in terms of approaches for raising middle class incomes, the president is correct, and, b, do you think he can move the needle with speeches like the ones that he's going to begin today? >> well, i don't know we're going to see a whole lot out there that really addresses that question. i don't know if you've seen any -- or caught anything in terms of previews on it is hard to see how he can accomplish that, talking about the same things he's talked about the last couple of years. i was more optimistic about where the economy was going to be. i think most americans wanted to be more optimistic about where the economy was going to be as we get into the fifth year now of a recovery. but, you know, jared is right. employment has gotten a little bit better. but it is stil

such ason we have shortage of high-skilled labor is because we have systematically underinvested as a country in the education of of our own children. overder this -- there are 42,000 high schools in america, but this year the number certified to teach advanced placement course in computer science is only 2250. senator, we are grateful for the work that you and senator hatch has led, to create the i-squared opposable. for aates the model national stem education fund. this bill follows much of that model, but i hope you might raised it even further, the fees on visas, raise the fees on some green cards, and invest that money in the american people, so we can provide our own children is a great educational opportunity they will need to develop the skills we need to increase in an increasingly competitive world. as a company, iker soft spends more onmicrosoft spends research and development than any company in the world. and yet we spend 85% of that money in one country, this country, the united states. our industry has come to washington because we want keep jobs in america. america,o f

despite the fact that decades of underinvestment have resulted in aging rail, delayed trains, we have to side track to let the freight go by and a crumbling rail station. i want to say something about this train station. it was built over 45 years ago as a temporary train station. it is not in all these years been a.d.a. compliant. you cannot imagine what it is like to get somebody in a wheelchair from the station up onto the train or to watch a mother with a stroller struggle to get up there because it's impossible to do. now, 144,000 people went through that railroad station last year and they deserve something more like the 21st century. i fought years to improve the train travel, and we are finally getting to build with a grant a new intermodal station in the heart of the city. like countless other cities and towns, our work has been supported by federal tiger grants which have provided vital support in modernizing the city's infrastructure. the funding is allowing rochester and countless other communities to build the roads, rails and runways we need to compete for the jobs of th

credible economist will tell you it's been a huge drag on this recovery, and it means that we're underinvesting in the things that this country needs to make it a magnet for good jobs. then over the last six months, this gridlock's gotten worse. i didn't think that was possible. [laughter] the good news is a growing number of republican senators are looking to join their democratic counterparts and try to get things done in the senate. so that's good news. [applause] for example, they worked together on an immigration bill that economists say will boost our economy by more than a trillion dollars, strengthen border security, make the system work. but you've got a faction of republicans in the house who won't even give that bill a vote, and that same group gutted a farm bill that america's farmers depend on but also america's most vulnerable children depend on. audience member: boo! [scattered applause.] president obama: and if you ask some of these folks, some of these folks mostly in the house, about their economic agenda, how it is that they'll strengthen the middle class, they'll shift the t

you make more money by making it more expensive, by not controlling quality or quantity and by underinvestingargue that medicare is central to that. that, yes, medicare has lower prices than private insurance, but the flip side of it, it encourages excess care leading to medical harm, a completely undisciplined health care system that has medicalized senior citizens and very much undermined the health care economy. i'm going to argue this is not just a matter of money, which is often the way we talk about it. the quality of care, the type of care and the reliability of care. unlike in computers, i'm going to argue in health care we failed to take advantage of the fundamental changes in care, in technology, in communication of information to make health care better, cheaper, and ubiquitous, which was the real opportunity of the last five decades. >> thanks. actually, i'm not going to argue anything, i don't think. i will just viscerally dispute the notion that a smartphone or a game device that you carry on your hip is more complex than medical care. let's save that for another time. i also wi