>> okay. >> from the leased space to the park, we did not measure that, because the code, i think is very clear saying "the parcel." >> so you wouldn't dispute the 1005-foot measurement? >> we haven't done a review of that, so i couldn't dispute it. >> okay >> is there any public comment on this item? seeing no public comment, mr. girardi, you have three minutes of rebuttal. >> thank you. what i said i was at the merced playground and unable to walk on my own and find cambon. it's not -- it's not an easy path to walk, although some computer systems it's .5 miles to walk. i guess i'm going to lean on what you said is that the parcel containing the mcd, the parcel could be -- the leasehold, the space that we leased for this project is a parcel of land. and if you measure from the parcel of land where the mcd is to be located, and you measure to the merced heights playground, it's over a thousand feet. it would be unfair to tether the entire stripmall. it just doesn't make sense to attribute the space to the mcd for the entire parcel, the parcel we leased is where the mcd will be and as a result we are outside lient you went th

so by your measurements, if you were to set the standard in measuring the distance should be in it's in the closest spot to the dispensary should be the point at which they take the tape measure, take it to the perimeter of the site? for example the playground, you said was on an acre? >> correct. >> so it would include the acreage, not just the building structure? >> that is correct. aside from the inches and miles and feet that is supposed to somehow protect the children from coming into contact with medical cannabis, we have to be smarter than that. we have to look at what the likelihood. >> i don't think anyone asked you a question. you are continuing to argue. is your time still going? a pollsing if i apologize if it is. >> do you have time left? >> keep talking? >> sorry about that. >> i understand that we have to keep people away, but the eight lanes' of highway do that, more effectively than a child not walking a thousand feet, i think. >> are you finished? >> i am. >> has your client already entered into a lease for the property? >> yes, they have. >> have you submitted an a

this is what we were debating, is the question whether you can operationally define free will so you can measure it? from a scientist's standpoint, a construct doesn't really mean anything if you can't measure it. i have been asked many, many newer scientists including ken, what exactly does free will mean and how do you measure it? it could be like emotional control. it could be something like impulsivity, impulse control and you get back to the basic problem that chris who is a colleague of anita's at vanderbilt, wait he has put it, how do you distinguish and irresistible impulse from an impulse not resisted. there is a basic gray area, a difficult ability to say, did you actually choose that and did you choose it in a way that the law would recognize. so the law all of the time develops concepts that scientists are interested in studying. it might be competency, for example. well, competency is really a multifaceted construct from a legal perspective. it could be competency to be executed, it could be competency to commit a crime. it could be competency to contribute to the decision as to whe

have to look at prices if you want to measure that in terms of real money and what economies need is deflation deflation is a big part of the cure you know prices need to come down particularly acid prices that are too high look americans can't afford to buy houses because they're just too expensive prices have to come down the prices have to adjust but the government won't let it happen and so they create inflation to fight off the deflationary forces that naturally. developing the economy but the problem for people who are looking at deflation they go back and they look at periods of time where we had on this money where we were on a gold standard and they see what happened they don't understand the difference between real money that you can create out of thin air and currency that you can create at zero cost an infinite amounts and when you have central banks and governments with the power they are going to use it and so they will continue to create inflation intil ultimately the deflationary forces are overwhelmed and you potentially andries unleash hyper inflation and you destroy

the currency gaining value and prices falling but if you look at any of these hyper inflation and you measure prices in gold there was deflation going on beneath the surface but you couldn't see it if you were looking through the prism of a currency and the same thing is happening or will happen in the united states if you're going to measure prices against the dollar prices are going to rise because they could rise dramatically but if you measure them in terms of gold they're going to fall right now they get back to a point where there is a natural slow you could call deflation as economies become more productive prices tend to go down we see this an electronics industry and the banks will offset this by printing money but what we've seen something here which is a breakdown in the i guess you could call it the transmission mechanism because the central banks are printing money but it's not really circulating in the general economy it's it's going right into asset price inflation so you're seeing things speculative bubbles you're seeing a lot of bubbles right now there's a bubble in london re

so are you taking any measures now what are those measures that you are ready to take now we are monitoring those troops and we have to for certain growth unusual growth trade a few a few products because of products like paul or like some of those about it's not enough to make a conclusion so it's only two months is. to. wait. for five months or so to. make a conclusion whether we should protect something or it's a question of normal trade we have to support the european parliament has recently criticized russia for not fully living up to the obligations of the w.t. here's a quote all men do it and they member of the euro parliament said i quote at the moment we are concerned about the introduction of text or extension of a number of potentially trade restrictive measures like the new had just ration on recycling fees for imported cars or the ban on emperors of long animals from the e.u. this is why we call on russia to remove all and justify temporary bans temperature araf increases and protectionist measures and quote so do you. this criticism from the europeans no. no for

you have to go, well, how do you measure success and you can't measure whator people say, you have to measure in the your own. >> rose: how do you measure it? >> like i said, the idea about the pub. you put it on the floor outside the pub and if it's gone you know you'll be successful. but i red a goya book when i was on holiday and i thought all right, i'm not working, i read a painting on goya by robert hughes and i got five pages in and he said "goya wasn't like damien hirst." i couldn't read the book. i don't like him for that. (laughs) spoiled my reading. that's the only bad thing. >> rose: do you read a lot about other artists? >> when i start it's -- i remember when i was young i went into the leads art gallery and looked into the books. i'm going to read this before i can start but you can only read so much can't you? >> rose: that's true. >> i never dream there'd be a book with my flame on there. >> rose: how many books of your name are in the leads library? >> i don't know, maybe more than one. >> rose: so tell me where you are for the evolution of a life in art. leeds. >> i

when you measure 0 to 200, it lessons thethe playing field. there aren't many that can do that. hree horsepower settings. you can set it to a mere 800 or mid range which is 1,000 horsepower or even 1,400 horsepower. >> the attack of the cat. >> look what we have over here. we must move in slowly. it's the rarest of the breed. we must move in slowly or it will attack. we must sneak up on her. i think she spotted us. she spotted us all right. let's move. she's eating me alive. >> we always have room for animal videos here at "right this minute." our first video today another great upload to our mychannel feature at rightthisminute.com. this is from a viewer of her dogs, penny. >> penny is riding shotgun. >> watch what penny does. >> did she think that would hit her? >> you thought it was a fluke. a shadow or the way the light is coming in the car. no. this happens again. >> that's funny. >> the greatest thing is she tunes in on it and plans when she's going to dunk. >> here comes an overpass. what t what are you going to do? >> she probably wonders why the rest aren't doing it. >>

we have done that, we have got ahead of the curve and you can see in measures, for example, of how competitive the economies are, the you can is steadily becoming more and more competitive. >> rose: there's also this, the united states is engaged in this great debate that's going on in the white house with speaker of the house john boehner and the president of the united states, barack obama. what would be the optimal outcome of that debate as you look at it as a man who's dealing with the same kinds of problems? >> i'd say two things. one is we do need a resolution of this problem. i think the most immediate short-term problem facing the world economy-- i stress the word short term" is the u.s. fiscal cliff. i think if that is not resolved that is going to cause considerable problem for the world and indeed for the u.s. economy and it's already had some impact on the u.s. economy because it's delayed investment decisions. i think second it's entirely up to the elected representatives in the congress and the president to decide how they want to go about it. personally speaking, my personal vie

. >> you cannot-- >> first off, you can't measure moral hazard. numberone, you can't measure the lines that people have their money-- they don't want to roll the dice in the stock market and they're in fixed income accounts, they lose money. >> i agree with charles, it's a policy conversation and he and i disagree on it. we did the right thing not letting the industry go down in a crisis. i mean. >> do you know what you're saying here? >> listen, there's a notion out there that big businesses are protected and when that happens, they do stupid things and that's one of the problems. listen, tarp and all that have-- >> and don't tell me that we made money. >> neil: and about the precedent, to your point, charles, whatever the good, i'm just worried about the present because i know if it it happens again, it probably will, we'll do it again with much bigger numbers. >> of course, charlie hit the nail on the head. in other words, why wouldn't the businesses take these sort of risks if you have a friend in the white house. >> why would you? >> or if you

listen to shift almost every morning and he's always said hyperinflation is a worst case scenario so you measure what you think about that i mean that is true but i guess the question is how long can you kind of qualify such a bold prediction well where you get need to be called out on it i mean i don't know exactly that specific thing but i think where i think peter shifts and i can sympathize with me and i made this mistake as well in two thousand and eight i give too much credit to the increase in base funding. not enough to the effect of the banking system and bank lending and additional forms of affectively what is money so i thought that we would get inflation a lot sooner or with greater. expansions another was so i think there is room there for her in the future and i think we're all right when we don't criticize which that's a question well that's i mean ok well and someone else on facebook so laila ali pointed out there's a. precise definition of hyperinflation neither is there a precise definition of the effect of an alien invasion stimulating the economy which is a reference to the f

that is how i measure value by the dollar amount but you say that is a bad way to measure the value ofat you have. measure it relative to the rice of gold. by the price of gold the s&p hasn't done as well, right? >> something of objective. david: peter, hold on. what we're seeing now, that blue line is how the s&p has done, if you measure the s&p in the value of gold. the yellow line in dollars. as you can see the gold value is not as good. go ahead, peter. chart is, i can't see it. in it goes back 12 years. david: just a year. it is just a year. >> i mentioned, they just announced they will praise the rise of a subway ride to $2.50. how is the dow doing in terms of that? i remember when i lived in the city, when i was there i was paying 50 cents to ride the bus and 25 cents on sundays. so that is huge increase. purchasing power is being lost. david: i just went to pennsylvania over the weekend from new york. $13 in the long continue nell to get back into new york. $13, the price of government. liz: try going from new jersey to new york every day. poor now, let's put it this way, peter

monique, thank you, measuring engineering staff, you guys got a lot done. this is an exciting day for everybody in san francisco. extremely exciting day for folks at fisherman's wharf. i thank the mayor. we will use this well. thank you. >> all right. (applause) >> thank you very much, president fong. our last speaker is one of our best partners in san francisco. he represents the department of public works. he is the city engineer. without the department of public works, cruise terminal project at piers 27-29 would not be possible. they are probably working on about 40 projects with us right now. we are very much in their debt. and to say a few words, please help me welcome, rod, city engineer. (applause) >> give us $4 million and we'll show you how fast we can spend it. [laughter] >> this is how much we spent on this project since october of this year, in the last 2, 2-1/2 months. so, back in september monique and i sat and discussed this project and we agreed to set a very aggressive deadline, which is completing this project before thanksgiving and open

two and a half percent but it is a truism of our financial lives that the thing you want to measure somehow disappears when you try to measure it for example the remeasured rate of inflation was very manageable seemingly in two thousand and six and seven the thing that was inflating was the thing as it turned out that would guide our collective economic destinies for the next five years namely house prices. the powers that be simply didn't notice. inflation is a fine term who's to say that inflation at the checkout counter is the real pearl what happens if the federal reserve driving people to so-called risk assets over eggs that putting and creates another bubble in stocks bonds commodities farmland gold what have you. the fed will have some measure of responsibility you know or well i was waiting for the ask chairman bernanke you mr mr chairman do you want people to buy stocks you want them to buy special of great corporate if when the prices of these things collapses will you be writing letters to the bravery of what what a man's will you make as a federal functionary and yet have

you. the fed will have some measure of responsibility you know or will i was waiting for the last chairman bernanke you mr mr chairman you want people to buy stocks you want them to buy special of great corporate debt if the prices of these things collapses will you be writing letters to the bravery of what what americans will you make as a federal functionary yet have something they're going to start getting any of those and i'm sure that they will say that that is not in their mandate unfortunately and they can always rely on that and jim grant that i may ask you to hold right there we will come back to you in a couple minutes i just have to get to this break but we'll have more with jim grant founder and editor of grant's interest rate observer because still ahead japan's voters head to the polls this weekend and this vote might have a major impact on japanese monetary policy i know you're going to say they have been rare enough on monetary policy for decades but jim brown tell us why we should pay attention but first your closing market numbers. you know sometimes you see a story and i

. >> you have standards for how you measure and we had the long discussion previously on those issues. your method of measurement is based upon walking distance and not by radius, is that not correct. they is indicated a half a dozen to eight restaurants, some of them much closer than starbucks and can you, confirm at this point in the hearing, the location of those with respect to the 300-foot radius? >> i believe, excuse me. in many cases, these dinners and restaurants are within 300 feet. of the proposed food truck, specifically in this, or along second street. >> yeah. >> at this point we are trying to get the facts. >> yes. >> i would i think that we can go on from that. i see that, you know, from the map supplied by the appellants there are obviously restaurants closer to this location than starbucks. >> that is correct, sir. >> isn't the department's position in this case exactly the opposite of the position that if took with a lot of exotic food, they served coffee from africa and whether that was likes foods with respect to other institutions within the 300 feet? >> that woul

that and boy that i could it was ok so let's do it again right we may write any yes defense on how you measure the cost if you look at the subsidies you all these benefits taxpayers gave these large institutions who did not make money because as you said earlier some of them couldn't even access the capital markets it in the price so the subsidy to you it was quite large for these programs so there is that the other problem is that you know you can't just look at the discrete stand alone return that we've got on this capital investment the broader damage to the economy caused by the this was in one hundred year flood this recession was caused by some small large institutions doing some really dumb things and you know it should have happened regulators should have stepped in your earlier the managers really should have been hold to account more than they would have so you know the moral hazard created by bailing them out when it was really their own mistakes that created this is also a substantial cost to society and taxpayers in general more trying to undo that now a lot of dog frank was about