at all the developments except stories you look at career you look at taiwan you look at china and japan they've all used their trading system to get where they want but they certainly are not by any means you know free market countries in any sense of the word and i think that's the important lesson is that that the advice the i.m.f. was giving and the economic policies that i.m.f. economists learned of themselves at the university of chicago and other orthodox economics schools and then were in putting into that into economic policy advice to developing countries are the wrong kind of policies and advice from most countries in the world and that you need to have very very very differential situations for each country and they're not going to and as we all now know economic theory as described by new liberal or the docs economic schools is just floored it doesn't work with the way our real world economic systems work markets don't but aren't perfectly no no under that kind of economic theory and there's no again if i believe in a higher call milton friedman you might know but no one is

we identified some of our schools under the school improvement grants, and when you look at the growth they showed this year -- go visit everett middle school. go see why they had double-digit growth in math and language arts. we were at paul revere this morning. look at the growth they had. i always tell people those people in the public who are the naysayers who do not believe it can be done -- to us a favor -- get out of the way of the people in the school districts who are doing this fabulous work because they get it done every day. i think this is something we ought to be celebrating, the success of our children. we want to continue because even though we are closing the gap, that is not good enough. we have to eliminate the gap. until we eliminate it, shame on us. there is still work to be done. our goal is sunday, the word does not exist in our vocabulary. there is no such thing about talking about a gap because we are providing equity and access in the basic fundamental civil rights to a proper education that every child in san francisco deserves. you're so excited that all of

know, you look at the trends.specially the gdp trends and this is very eary to that. last couples '07 to '08 the same act trends in gdp. i think this quarter is going to be pivotal. if we don't go into the red. we'll dodge a bullet, but it will be close. >> neil: why? what worries you the most? >> this is a vote of no confidence. a vote of no confidence to the point people aren't moving. we've seen it, banks are sitting on a lot of money and corporations are sitting on a lot and so are people. the last report came out about consumer income we saw a savings shoot from 5% to 5.4% and people are starting to batten down the hatches and nothing to do with the debt ceiling debate. talking 0.4% growth in the first quarter. this has something to do with the larger element of losing faith in the system itself, i think. >> neil: you know, and you were commenting on fox business network that we haven't gotten beaten down on some of the sectors and thoughts so you were out doing some groups, what were you looking at. >> agric

if you look at the demand for quick money, if you look at the demand -- the payoff on a short-term bond on a one-month treasury bill, it was actually negative. means investors were willing to pay the government money to hold their money. that's very interesting. this is called a flight to safety on wall street. people were jumping into whatever they thought was safe, not yielding a lot of money, as investors jumped out of the stock market, as it played out all day on wall street. people were jumping into the government savings bonds. you brought up a good point, how did the blue-chip companies do? the reason you care about these, these are the big companies in your pension plans -- >> a lot of people own apple, goalle, exxon, ge, how did they do? >> general electric down 5.7% for the day. the world's biggest oil company, exxon mobil, down 5 march for the gay. google, technology leader, down 4% for the day. and if you look at alcoa, the biggest losers on the dow industrials, down 9.2%, a company that spans the gamut, it's a good indicator of overall demand. no matter where your money was

but you know michael fine go to you when you look at investors looking interesting and companies here what do you still be sentimental when they look at these long term projects is that it's just too rich for my blood you know you want to get into it's such a long long term commitment or is a growing confidence that it is a good idea considering what we just heard from stephen. i think there. is a good idea to buy a long infrastructure bonds so basically. obligation through rather than equity just because. so on developed in russia i thought basically several companies are traded on russia which you can invest and which equity can pretty bad so that is why in my view of the only way to invest and bonds well what about you i mean you're investing in the. electricity sector is the government doing the right things as far as you're concerned giving companies because we've all agreed here this is a very long term. trajectory investing such a huge amount of money therefore it's a question how to improve. for us in this country we have to rethink really we're here for about fifteen people o

it is something you look at and do not feel real good about. there needs to be an international effort, and right now i do not see that happening. >> could you give us your assessment of al qaeda in the region that now, particularly with the upheaval that has gone on since this winter? >> it is a franchise kind of outfit. in iraq, they are really on the ropes right now. they have very little support. they are being hunted down and are turning to bank robberies to finance themselves. they are still dangerous. up in the high country in the borderlands between afghanistan and iraq, that is still the epicenter of the out qaeda senior leadership. it is not a safe haven anymore. it is under enormous pressure. they are not doing well there. they are still able to maintain a certain degree of the command- and-control. dropping down into the arabian peninsula come for the first 90 days, they are holding to rein in yemen where the political stalemate -- terrain in yemen between the president and the opposition where it has distracted the military. al qaed

i'd like you to look carefully at what you have here.ou have a child development program where you have a great deal of confusion about who is going to return, who is going to remain, and you've got that codified in this particular agenda, you've got all kinds of money that's coming in to support that and we still have the continuing and ongoing confusion about who is actually going to be working in the program. i would ask you to try to find out what the answers are to that before you go ahead and vote for all of this. thank you. >> thank you, mr. kelly. our next item is -- president mendoza: our next item is to remind the public that in accordance with 11.2 of the public policy, an individual wishing to address the board on agenda items can call the board office by 4:30 on the day of

you had about six times more renewable energy capacity installed last year the nuclear capacity if you look at global investment patterns you had one hundred eighty five billion dollars invested on renewables you had about six last year and vested on nuclear reactors you can kind of already see the market is choosing to meet increases in what your city demand with renewable sources as well as energy efficiency what's interesting is if you look at what cuts carbon the fastest as in what does the most bang for the buck about an eight to one ratio favorable to nuclear energy is energy efficiency this is you know things you can implement demand side management practices more efficient homes more efficient you know fuel standards for vehicles that cut energy costs far below the price of building any new power plant and you may think that countries like japan or the u.s. or china have a really taps this energy efficiency potential of they have tapped it when in reality you've got probably thirty to fifty percent of electricity demand today can be cut with cost effective measures and these are num

and in fact if you look at the clean energy what is the clean energy mechanism that was mandated under some of these u.n. rules and then go back and look at china it's clear that that system has been gamed and the chinese have been among the best at collecting these subsidies to build wind projects that some of which are not even connected to the grid so this idea that somehow investment in renewables is leading the world that this is where the world is going the world is going in chasing renewables and most of these countries simply because of subsidies and mandates it's not because the market is free as it is is is saying this is the best option. it is she gave us one number before of something on the order of two hundred billion invested in renewables ok well that's that seems like a big number here in the u.s. the upstream oil and gas industry alone just in drilling new wells every year since two hundred fifty billion dollars so the idea that somehow that that the world is moving to renewables because this is the cheapest fastest way is simply not true it's because it's subsidized

you look at the same tape.ou look at the whole tape when you put it through the machine. >> and running and gunning to try to put it together. it was late. >> bill: do you think the station is going to do anything to these people. >> they said no comment to us. no comment, no comment, no comment. >> bill: the station did it on purpose not the station but the guy. you and i disagree. >> i totally disagree. we can find out the situation i would like to know. >> bill: impossible for them not to have done it on purpose. they knew what the boy's statement was. unfortunately, that kind of editing goes on and it should be punished. >> look at the sound bite sheet you can sort of pick and choose. >> bill: that's done on purpose. >> i disagree. >> bill: tonight, al gore in the spotlight, p and p moments away. ! >> bill: pinheads and patriots in a moment starring our pal, al gore. but first, with summer winding down consider signing up for premium membership. weekly q & a with you guys asking me questions big discounts o

to show you what they look like. on, off. this is a safety box you can't get it open until you turn it off. a couple of screw in fuses. this is a cartridge and screw in fuses. here it says on and off. pull it out stick it upside down and stick it back in. circuit break /-rs this is what most have. you have the meter. that's how pg and e /khrarpblgs us. you have the big main. usually there are 60 or a hundred or 50. the little guys are 20-15-30. if you want to shut off the power you shut off the little guys first than the main. when you throw a switch there is the arch. like water when water flows in an old house any you shut it off quick you get the hammer effect? that's like electricity. is it safe to do it if you smell natural gas? show of hands. >> nobody has their hands up. it's not safe to flicking any switches if you smell natural gas. how about if there is smoke coming out of an outlet. if you shut this off in an area where there is no gas, good idea. >> just about anything can be a hazardous material, cleaners, solvant

you look at the yields on these as well. the yields have been dropping. they range between 27 and a half and 27.6 percent. what s&p is saying is you investing in microsoft, they are more liquid than the u.s. government. that is kind of scary to think about that. exxon mobil their profits are based on oil. they are going to make money but not as much. they are saying it's safer to buy their debt than it is the u.s. government. that is mind blowing to me. >> that's shocking. i can't even believe we are reporting this story tonight it is so amazing to me. we have another expert katie sarjon. talk to us about those asian markets. anything surprise you here? >> what we are seeing is mid morning in asia we are seeing mid numbers across the region. they have come och the morning lows nothing like we saw on friday. new zealand was the first market to show how the day might go. it plunged 3.3 at the open but come back a little now down 23 in 3 percent. nikkei and japan down one and a third. still 1.6 percent. hong kong and shanghai trading little over half an hour

also if you look at forward equity returns, from fire spikes in volatility and looking back over a bunch of market cycle-- cycles you can see the 4 to 12 month equity return positive. >> you've given a lot of reasons to be positive. we thank you for that thank you for coming on the program. >> good seeing you, thank the. >> we've been speaking with jeffrey applegate, chief investment officer rat morgan stanley smith barney. >> tom: still ahead-- we go beyond the scoreboard. our look at the business of sports heads to fantasy land and the millions of dollars spent every year on fantasy sports. moody's investors service thinks america is struggling to avoid another recession. it puts the odds of dipping back into recession at one in three over the next year. in light of the debt debate, the s&p u.s. credit downgrade and stock market volatility, moody's says its near-term outlook has fallen sharply in the past month. it now sees the economy growing at about 2% in the second half of this year. just last month, it pegged that same growth at 3.5%. >> susie: tomorrow, german chancellor angela m

you do? stop, look, listen and think. any time you pull up to an incident or you see something, you take a breath, assess the situation, use all your senses and think about what you are going to do. those are all components of what we call the size-up. there are many components to size up. what's one of the components to size up? gathering facts. you want to assess the type of damage there is. what kind of situation is it? what is the issue? is it a medical problem? if it's a medical, is it a big hurt or a little hurt? is it a rescue situation and if it's a fire, do you have the resources to control or extinguish that fire? how about your situation, do you have all your people? do you have all the resources that you need? have you collected all the material that you need if you are going to start doing a lifting exercise because someone is trapped? because you never start a rescue, you never start a lifting exercise, never start anything, unless you know you are going to be able to finish it, have enough of the resources t

look right. youe reasons when you're president of the united states, incumbent and advantage, tough bells and whistles and it looks beautiful. the best advantage that these candidates have, not going to call them what you call them. >> bob: munchkins. >> dana: they are outsiders. they can throw stones. >> can't you argue it's the obligation of the insideer the president to have a plan? his plan is let me borrow another $2.4 trillion. let me do more of the same thing that got us in this mess in the same place. unemployment up. inflation up. borrowing up. that's his plan. >> andrea: can you articulate the president's plan? >> bob: yes, i can. the plan he put together with boehner. >> dana: that is not a plan that exists. >> bob: it doesn't exist why? because the tea party beat it. that's why. >> dana: congress didn't pass it. >> bob: he did a stimulus program, put a lot, 2 million people to work. if we had done another trillion i wish we would do because the deficit does not matter. but you guys convin

want to see demand with renewable sources as well as energy efficiency what's interesting is if you look at what cuts carbon the fastest as in what does the most bang for the buck about an eight to one ratio favorable to nuclear energy is energy efficiency this is you know things you can implement demand side management practices more efficient homes more efficient you know fuel standards for vehicles that cut energy costs far below the price of building any new power plant and you may think that countries like japan or the u.s. or china haven't really tapped this energy efficiency potential or they have tapped it when in reality you've got probably thirty to fifty percent of electricity demand today can be cut with cost effective measures and these are numbers that don't just come from industry groups but also consulting groups like mckinsey or the i.p.c.c. just released a report a few months ago so this issue of we have to build more power plants to meet demand rather than what's actually reduce the demand first is another one of these kind of dichotomies that kind of distorts the real

of the problems in europe if you look at the slowdown in china and japan everywhere you look the preponderance of signs for the future are negative and that's why you see this extreme anxiety of people pulling back scavengers coming in to buy stocks cheaply then being burnt and pulling back it's a time in which the recognition of the severity of this crisis which governments and people have wanted to avoid seeing is becoming no longer possible to not see and everyone is scurrying for what to do wasn't there a very similar period of while volatility from october of one nine hundred twenty nine into early one nine hundred thirty. yes and then when there was a little bit of a recovery basically in the middle of the 1930's because roosevelt unlike obama produced government jobs eleven million of them to be exact but then the republicans again and conservative democrats donned this kick of holding back the government because they were frightened by its power and they pulled back and the economy double dip again and that's the fear of what we're doing again so it's sounds to me like what you're sugg

when you look at these new images does it stir it back up all over again? ind you? what goes through your mind? >> you live the tornado, the devastation again when you see them and you remember where you're at and when you heard about it and what you saw directly after it. so i've seen some of the footage and, yeah, it's a really a reminder of what we've been through. >> and when you see the pictures, the cafeteria and hallways, you must think, thank god it happened on the weekend and nobody was in school. >> we're so lucky it didn't happen when students were in school. with 4,000 plus students that were all scattered throughout the district in different buildings, and with the path of the tornado, the tornado took about as bad a path at you could have taken to hit our schools and it's obvious that there would have been a lot of people hurt. >> and when you look at these new images obviously the students were not there. they were not in the halls of the school, music room or cafeteria and the like. their homes had been damaged, around when i was in joplin pe

but when you look at unemployment, and you look at unemployment among males 20-50, and you look at the danger of young people being out of work, you can afford anything when you are young other than not to work and not to grow. so, dealing with that -- and i think we just need to think out of the box. this is a great country, maybe there should be universal service for everybody -- not just for military, but peace corps, habitat for humanity, so everybody gets training and maybe an equivalent to a gi bill where you get the skills training or the training you need in this world. there are a lot of things that need to be done. but i think the reason it is hard for politicians to talk about them is because they are not that difficult conceptually, but as judd and i were talking, they are not easy it issues in washington did if they are analytically easy like social security, they are politically difficult. there is not low hanging fruit because it is hard for democracies to the fundamental reform that we need. but there are things that can be done that create jobs and growth, but we are g

what have you learned to look for that suits you? i've learned to look for the qualities i look for now are different than prior to getting married and having kids. and now i find myself very attracted to men who have children, and i think one of the sexiest qualities in a man is seeing a man great with kids. and, you know, i have three now, three children. and that's a very attractive quality. >> is motherhood to you your greatest achievement? >> i think so. yeah. i'm very -- i love my kids so much. i love being a mother more than anything. and i get so much fulfillment and joy with my children. >> can you lead a relatively normal life now? >> yeah. definitely. you know, for me this is a job, and when i'm home i'm mom. taking my kids to school and gymnastics and planning their birthday parties and doing their homework and crafts. and i love all of that. >> if they said, mom, we really want to go into acting, given all that you've been through, would you encourage them or would you be slightly reticent about that? >> i would definite

generated by our own guess so you look at oil and gas a little bit later we go back to you. is the upside for russia now in building its infrastructure is it introduces new technologies or uses new technologies where they don't where if you're looking at technologies that exist today from the one nine hundred sixty s. and now you're going to twenty first century make a jump we. remove very fast very fast maybe it's very. complicated to understand enough trust why you would like to as fast as possible to prostitution about all kinds of technology what we need. understand is that enough we understand maybe later not now for opposition to think we do our best michel if i can go to you what is the economic implications of all of this when you know that there is a whole lot of money out there the state has a lot of money are you worried about issues like stoking inflation because russia always has been having a problem with inflation with the exception of the great turn down in two thousand and eight i think that the main issue of inflation is the monetary base and how many money

television shows, as it comes, you look for the unknown, you will not find it. but art, yes. art is about the unknown, what we can discover in the us. art is a wonderful breeder of that because they are doing something where they are on the front here sometimes. nobody did this. they go well beyond any industry standard. there is something about the culture that is radically cross- disciplinary. we do those things institutions always say they want to do. we want to get crazy and cross- disciplinary around the shop. let's sit on the floor. let's play foosball. but if you let people loose in an environment -- people will always give to a greater gift. it is just a principle. if a group get together to give a gift to an entire city, it is easy to find people who will give to that. and the consequence is, you can learn a lot. talk about a networking opportunity. but nobody ever went there to network. they went out there to give their energy, imagination, their heart to something. >> there is that collaboration, the cross-disciplinary thing that happens out there, but i also feel

drug use fifty percent cocaine use my seventy five percent during the last forty years whenever you look at legalization effects the solution to reduce the powers of the cartel then what are you going to legalize you can debate marijuana but that's not going to solve a problem because they're going to be peddling in methamphetamine heroin cocaine if you legalize each of those they're going to continue to increase consumption of those the problems in our society and i don't think anybody really wants to legalize methamphetamine or or cocaine or heroin that's not the solution this is a commitment to reducing illegal drugs we've had success and certainly we need to make improvements but let's don't throw this out and say let's legalize everything do you think about that jeffrey what would you legalize or do we lies everything across the board. i would legalize everything across the board so let me agree with mr hutchinson that just legalizing marijuana is a relatively small issue in terms of all the ancillary negatives of black markets and corruption and and violence huge fraction of all of

decriminalization did not work and it's a it's so i think that when you look at the cost of prohibition it's another dangerous product if you want to put cocaine heroin increased methamphetamine use ecstasy use. out in the marketplace i don't think that's the solution for america jeffrey what about you know prevention because it seems like so much money is put into you know fighting this with using the military and we see that the mexicans are doing here i mean if we just put a lot more effort on prevention wouldn't that be more cost effective i mean it really is a consumption issue at the end of the day isn't it. well it's certainly consumption is a huge part of it again we have to balance that against the cost of whatever policy we adopt to try to reduce consumption there's absolutely nothing wrong with thinking about prevention and some kinds of preventions sort of may be somewhat effective but i think it's misleading it's sort of a false hope to believe that by putting lots more money into prevention we can drastically reduce the demand for drugs and therefore not have to worry abou

>> well, what you have to do is you have to go back and look at history. i know you are a didn't of history. you put these things together and say okay if we had this that 1944, 1950 and you look at this situation, you say what would happen today? one of the problems we have in this country, is we don't go back and look at what happened before and then apply it to today. we think this is new, different, it can't affect me in a certain way. in this storm, if you put all the pieces of the puzzle together, even wind gusts of 70, 80 miles-an-hour, the fact is, the storm is going to batter a certain area for 12, 18 hours, wind coming onshore, piling the water up, big cities getting strong winds, heavy rains, trees coming down, you have a costly storm. one that is unprecedented, not because of the power of the storm but because where tracking, i have to people in the country and how strong it is as it is tracking. >> joe thank you, very, very much. coming up continuing coverage of hurricane irene. we are tracking her path and we'll keep you updated throughout the

if you look around, you are looking at lots of, from what i can see, looks like open space. so the hope is, of course, there is no structures that are in danger. temperatures 83 degrees. winds at 15. humidity 35%. that is not a bad fire condition. we will watch it for you. winds will be increasing over the next 20, 30, 40 minutes, this is the time of night. so we will have the latest on this and i will get back to your local weather as well. see you back here in 15 minutes. >> thank you. >>> plans to double the ties of one safeway store left a community divided. why some say the convenience doesn't outweigh the cost. >>> and a list colleges may not be proud of, one california school being recognized for its parties. charming farmhouse. right next to my posh castle! i'm sensing a theme here. well, i am the queen, dear sister. get your annual ikea catalog today. . >>> over the scene of a fire happening right now. these are live pictures coming to you. it's right where interstate 80 and 680 meet. near fairfield. at this point, latest word we got, this fire has grown to 5 alarm.

>> when you start looking at how do you define someone i get all the time. we are better now than we were last year. we were better prepared. we've got better process he's not only in the government but outside the government but the vulnerability is we've had for years still exist committed the bad actors still exploit the same vulnerabilities over and over again, typical thing we see through the anatomy of the autopsy of the the formidable the which gives somebody the privilege. we've seen that the past 20 years. so why don't know people will able to recognize it and that basic hygiene that we are looking at a rate of legislatively as we pointed out in the proposal we put forward there are things we need to catch up on. the penalties for the infrastructure, the impact on organized crime which is now part of the cybercrime thing we talked about a few moments ago. so updating that is key but i don't know that i would put two years and. we recognize some we have to make up. >> this is the c-span's communicators program. kicking off today we are doing a four w

was beginning a period of incredible growth, but when you actually look at the specific ideology and kind of the -- the origins of that ide -- ideology of the bomber, they are clearly traced to the 70s and things written in the 70s. you know, when the economy was really in bad shape, and a lot of, you know, white men were losing faith in the economy, so i don't know what's dwing going to happen as to violence. japan hasn't had a lot of violence, very much in its culture unlike the u.s.. it's very hard to predict, but i do think we are going to be vulnerable, certainly, to reaction and extremism, much more than we have been in the last decade or two probably for the next decade or two. >> yeah, like others, i really think this is an excellent presentation. a lot of times, people, the culture can't see the forest through the trees, and you're sort of putting a little bit of the forest out there, but i think possibly, and we heard earlier questioners there's a bigger forest than even you're presenting, and what we're going to experience as you describe may only be a prelude to a greater

you can spend time looking back but can't redo yesterday. an do is take what you've done right or wrong in life, learn from it and try to get it right going forward. >> sean: one of the things that amazed me is that you separated from your wife, she knows this is going on. you don't tell your staff where you're going and fly off to meet your girlfriend. and she probably assumed she knew where you are. and you're the governor of a big state that you're admitting is a phone shall vice presidential candidate and maybe one day a presidential candidate. is your brain not telling you that this is a really bad idea? and that i'm probably going to get caught? it's going to ruin my life? >> no. >> sean: did you never think that? >> we make mistakes in life. we can dwell on it. >> sean: did you think as you were making these decisions -- . >> a lot of things you do differently in life going forward. >> sean: do you remember hugh grant was on jay leno? >> right. >> sean: the question was grai. you know he looks at her and at his girlfriend, and says wha

extended forecast here are you look forward to the weekend? there you have it. ay looks to be the warmer days along the coastline scale back a little bit on sunday but our inland valley locations wide spread low even mid 90s for the weekend. and a cooling trend early next week. back to you. >>> all the major european markets are down this morning following the lead of most of the asian markets overnight. only japan, south korea, and taiwan finished with gains. those were less than 1%. all the other benchmarks finished the gain on the downside. investigator -- investors are waiting to make moves until they hear what ben bernanke says today. many are hoping for clues that the fed will take additional steps to help the u.s. economy to avoid another recession. analysts say that is not likely since two weeks ago the fed announced it would hold interest rates at record lows for two years. ben bernanke speaks 7:00 a.m. our time. we are waiting for 5:30 revised quarter. the gdp could also effect the market. >>> time now 5:20. construction work starts today in livermore o

okay, you know what are you looking for in a zappos employee? you say that you value weirdness. >> yes. >> stephen: what are you looking for? are you looking for a guy who comes in with a pet snake around his shoulders and starts rapping rapping -- what do you mean by weirdness? >> well, we do two sets of interviews for everyone we hire. the first is standard stuff looking for skills, experience, and so on. the second set is a culture fit. for each of ten core values one of them is which create fun and a little weirdness. we have interview questions for them. the key word there is a little weirdness. >> steve: people are allowed to have costume parades. >> yes. >> stephen: people spend the night at your house, is that true? occasionally. okay is this a cult? are you dear leader father of a krult? do you have child brides? how much control do you have over those people? >> that's why we came up with our list of ten corps values. if you do a google list you can see what they are and it's not myself out there hiring people. it's actually everyone in