it was zero hedge as you know that put out a line, you know, put out a bulletin that basically said all those 200,000 some odd jobs created friday were temps and full-time jobs actually fell and that that's been the story of this recovery. i want to get your take on it. >> larry, zero hedge unfortunately is really bad at reporting facts. this is yet another example of that. the part-time employment did rise to very volatile series. as a share of overall employees, from where it was in '07 and the establishment survey shows very good income growth and i don't find that to be the case at all. >> you don't believe that's all temps? >> no. there are more temps but there's a lot of good things going on. >> if i can get the chap from zero hedge on the show, we'll have a rebuttal. maybe he'll come on. we'd like to find out and have him come on. let me go to dean baker.

i want to get your take on it. >> larry, zero hedge unfortunately is really bad at reporting facts.et another example of that. the part-time employment did rise to very volatile series. as a share of overall employees, from where it was in '07 and the establishment survey shows very good income growth and i don't find that to be the case at all. >> you don't believe that's all temps? >> no. there are more temps but there's a lot of good things going on. >> if i can get the chap from zero hedge on the show, we'll have a rebuttal. maybe he'll come on. we'd like to find out and have him come on. let me go to dean baker. if you use the more accepted survey, that maybe isn't right, the payroll survey, the one everybody talks about, the numbers are a lot better. in the past year part-time jobs did go up 195,000. that's not nothing, but full-time jobs went up 1.4 million. almost depends on which survey, dean. the question is is america becoming a part-time country? >> it doesn't depend on which survey, it depends on which month the household survey and zero hedge might not be familiar with

statistics we gained one hundred ninety five thousand jobs in june beating expectations that is zero hedge notes most of the gains were from low polities part time jobs so what about full time jobs us two hundred forty thousand of them were lost vaporized and there's one more number in the report and this one is even more important because that's the one the fed is using to judge when it will wind down its money printing quantitative easing program and this statistic the unemployment rate remained the same at seven point six percent the fed wants to see it head down to six point five percent a ventilator and that's why the markets are so schizo frantic lately because they're addicted to uncle benny's eighty five million dollars eighty five billion dollars monthly liquidity injections we're going to talk about all of this with austin peterson in the bed and also dig into the fine print of that audit with perry and boring meanwhile in europe are two central bankers there mario draghi at the e.c.b. and the newly installed mark carney at the bank of england they're distancing themselves from b

into some sort of plan that even the plan or otherwise tapering might be tabled or not i get is zero hedge points out the fannie and freddie also have a hand in our beds now because the government mortgage giants who are supposedly being wound down pay the treasury sixty six billion dollars in profit so the billions uncle sam doesn't need to borrow as much next quarter which means of fed's eighty five billion dollars per month bond buying plan will monetize nearly seventy percent of all u.s. issued in the near future so just to reiterate because our heads are swimming to seven out of every ten dollars borrowed by uncle will be bought by the clause our government enterprise known as the federal reserve and based on recent trends over two thirds of that money printing will end up in poor and brain so couldn't corrode encroach away from burning no wonder you're looking for a new gig. and speaking of new gigs the former harvard president who was scorned for a massage and a sick remarks about would be very summers is increasingly being touted as the front runner replacement next year just today

statistics we gained one hundred ninety five thousand jobs in june beating expectations but it's zero hedge notes most of the gains were from low quality part time jobs so what about full time jobs to us two hundred forty thousand of them or last vaporized and there's one more number in the report and this one is even more important because that's the one the fed is using to judge when it will wind down its money printing quantitative easing program and this statistic of the unemployment rate remain the same at seven point six percent the fed wants to see it head down to six point five .

statistics we gained one hundred ninety five thousand jobs in june beating expectations but it's zero hedge notes most of the gains were from low quality part time jobs so what about full time jobs us two hundred forty thousand of them were lost vaporized and there's one more number in the report and this one is even more important because that's the one the fed is using to judge when it will wind down its money printing quantitative easing program and this statistic the unemployment rate remained the same at seven point six percent the fed wants to see it head down to six point five percent of eventually and that's why the markets are so schizo phrenic lately because they're addicted to uncle benny's eighty five million dollars eighty five billion dollars monthly liquidity injections we're going to talk about all of this with austin peterson in the bed and also dig into the fine print of that audit with perry and boring meanwhile in europe are two central bankers there mario draghi at the e.c.b. and the newly installed mark carney at the bank of england they're distancing themselves from b

hear into some sort of play in the evans plan or otherwise tapering might be tabled or not get as zero hedge points out the fannie and freddie also have a hand in all of this now because the government mortgage giants who are supposedly being wound down the treasury sixty six billion dollars in profits so the billions uncle sam doesn't need to borrow as much next quarter which means of fed's eighty five billion dollars per month bond buying.

to capture that shift sell your stock in this company are so sure enough hedge fund so short they can force the price down to zero that's what happened two hundred lifesciences remember hedge funds attacked huntington life sciences the animal cruelty company down to zero you can do the same thing with corrections core of america because they treat people like animals it's animal testing it's the new slave model it's plantation economics it's slavery in america let's get rid of it well you know during the reagan. in times when we brought in the war on drugs and started incarcerating people and it was during that time that girls caught her and came up with it's winter in america now anonymous says it's now winter is coming for c.c.a. for corrections school of america because americans are starting to wake up at least in certain states like colorado and washington state where they're starting to legalize drugs because they're saying wait why are we slaves to this federal government and this war on drugs that is financing these the military industrial complex but impoverishing us and locking up our fellow citizens. j

under bankruptcy court protection thanks to the earth zero interest rate policy by chairman bernanke going on five years no pension funds and hedge funds alike have been searching for higher yielding us it won't be in the best would probably need to be this bond such as. those issued by detroit and now the prices are falling as well as liquidity meaning it's harder to find buyers for these increasingly distressed assets so it looks like our favorite casandra meredith whitney was just a couple of years too early. and here's what's new our prime interest. under current basel three proposals within the next five years banks will have to hold equity equal to three percent of assets this means that for every one dollar of capital a bank can basically loan or gamble on derivatives thirty three times that amount earlier i spoke with robin barry a former investment banker with crowd.

under bankruptcy court protection thanks to the earth zero interest rate policy by chairman bernanke going on five years no pension funds and hedge funds alike have been searching for higher yielding us it won't be the best to believe you to do this on such as those issued by detroit and know that prices are falling as well as liquidity meaning it's hard. to find buyers for these increasingly distressed assets so it looks like our favorite cassandra meredith whitney was just a couple of years too early. and here's what's new are i mentioned this. undercurrent basel three proposals within the next five years banks will have to hold equity equal to three percent of assets this means that for every one dollar of capital a bank can basically loan or gamble on derivatives thirty three times that amount earlier i spoke with robin barry a former investment banker with credit suisse and a corporate finance executive and i asked her about leverage during the financial crisis and the expansion of the derivatives market. all of the banks got in trouble in the financial crisis because of the bets they place on the mortgage market in the secu

under bankruptcy court protection thanks to the earth zero interest rate policy by chairman bernanke going on five years no pension funds and hedge funds alike have been searching for a higher yielding outfit well into the still heavily into the the bond such as those issued by detroit and now the prices are falling as well as liquidity meaning it's harder to find buyers for these increasingly distressed assets so it looks like our favorite cassandra meredith whitney was just a couple of years too early. and here's west and you are. under current basel three proposals within the next five years banks will have to hold equity equal to three percent of assets this means that for every one dollar of capital a bank can basically loan or gamble on derivatives thirty three times that amount earlier i spoke with robin barry a former investment banker with credit suisse and a corporate finance executive and i asked her about leverage during the financial crisis and the expansion of the derivatives market. all of the banks got in trouble in financial crisis because of the bets they place in the mortgage market and the securities ation tha

under bankruptcy court protection thanks to the earth zero interest rate policy by chairman bernanke going on five years no pension funds and hedge funds alike have been searching for higher yielding assets well they have been for the student heavily in the us for bonds such as those issued by detroit and now the prices are falling as well as liquidity meaning it's harder to find buyers for these increasingly distressed assets so it looks like our favorite cassandra meredith whitney was just a couple of years too early. and here's west and you are right.

consequence of monetary policy nearly five years into near zero interest rate where most of the printed money ends up right back at the fed we now have hedge funds instead of banks lending to troubled small businesses they were all about free will and free markets here but when shadow banking and that would be had.

consequence of monetary policy nearly five years into near zero interest rate where most of the printed money ends up right back at the fed we know have hedge funds instead of banks lending to troubled small.

monetary policy nearly five years into the year is zero interest rate where most of the printed money ends up right back at the fed we now have hedge funds instead of banks lending to troubled small businesses they were all about free will and free markets here but when shadow banking and that would be hedge fund credit intermediation hits main street something has gone abroad mr chairman and here's what's on your prime interest. in the aftermath of the financial crisis many nations experienced record budget deficits countries like greece and ireland were forced to slash spending sparking a major debate over the end and the role of government debt during a recession and the u.s. has not been immune either we still hear talk of the sequester and the debt ceiling and that is the u.s. set to hit again shortly after september so joining me now is mark blythe a professor at brown university and author of a sturdy the history of a dangerous idea thank you so much for joining me people are going to be hope well before we get into what a dangerous idea it is can you break down austerity for our viewers and there are a lot of misconceptions

zero by the end of the day. it happened that we were very profitable in 2008, when most hedge funds lost money.e market was down 35%. all our funds were profitable. very little or no contribution from subprime, and then we were very profitable in 2009 and in our best year, at least in terms of absolute returns was 2010. we stumbled in 2011, and we got overly ambitious as to the direction of the market, but 2012 again, most of our funds were profitable n.2013, you know, we're having a very strong year. we get a lot of attention for the gold fund which is down because gold prices are down, but the gold fund is only 2% of our assets. the rest of our funds are all very profitable. returns so tar this year range between 5% and 32%, so we think we're, you know, back into, you know, our long-term, you know, achieving returns now, commensurate with the long-term track record. >> does it bother you that whenever there's a headline about gold your name seems to be in the sub head line. why are you so identified with this yellow metal? >> we did -- you know, we became very concerned when the fed started q

zero in on the federal reserve as far as stimulus. how did you think the market will react? >> if the number is substantially lower or larger the them and hedges 60,000 jobs talking about the payroll on friday, the atp, if either number is strong girl were weaker substantially the market will be the exaggerated the fact otherwise i don't expect much movement. >> economic news aside we have earnings next week as well. , much is on the fundamentals? >> i was watching the program earlier the market is to endow a lot of those in portugal gave up with the last couple of days. the market and the economy are linked right now in the earnings season will be in contrast to previous summers lori: what is your outlook for the market? but it is a diversified and you have a short-term treasurys and that worked out for you. what is the recommendation for asset allocation? >> for now the stocks remain the investment of choice. the world economy is getting better also of japan of all places china is slowing down but not enough to offset what will be a good story in japan but u.s. companies that have the global orientation and are cheap right now. the has big d

zero growth in the emerging markets in the last two years. >> jennifer, do you then say to investors who are looking at the space and seeing the potential for the value, and certainly some hedgebut do you recommend that people steer clear of this sector for now? >> well, yes, we say to steer clear of it for the time being. we see it with a few pockets of cheapness and they are a big part of the index, so it is flattering the headline comparisons. >> david, what about you? would you guys agree about the vulnerabilities here? >> well, certainly problems in the emerging markets, and i completely agree with jennifer about the weakness in the emerging markets, but it is difficult to time these things, and when i look at the valuations of the emerging markets and the long term growth over the next 5 years and 10 years, i want a position in te mortgaging markets, because i believe they are cheap, and they will see the fastest growth in the world, so it is tough, but long-term investors need to remember they are long term investors and weather some of of the bumps here. >> david, turning back to the states, i wonder, and we did hit a high today of 2.7 and change on the 10-year, and i