Landslides, floods, and four people dead, and the death toll is expected to rise. Hundreds of thousands evacuated from their homes. Police in italy are holding a somali man involved with the drowning deaths of hundreds in the mediterranean. The police say he organized the trip to lampedusa. He faces other charges of rape and human trafficking. Octobers job report is a pleasant surprise but there was a cloud inside that silver lining. Ill talk to the labor secretary of the united states. Plus the woman who helped expose enron turns her eye to the governments concern background. And its a 3d revolution printing everything from shoes, guitar to meat. And even a live copy of me. This is ali velshi, and this is real money. This is real money. You are the most important part of the show. Join our conversation over the next half hour on twitter to use the handle real money. The government added 204,000 new jobs in october. But dont get too cared away. All these jobs reports are revised after the fact. And we just got the revision for september. It was revised upward. I know youre not getting excited. Consumer sentiment is down to its leos point in two years. And concern, is always jobs security. Thats understandable like our economic recovery as a whole the october jobs numbers painted a very mixed picture. The Unemployment Rate actually inched upward to 7. 3 despite the number of jobs added. This might have come in lower if not for the hundreds of thousands of federal employees furloughed from their work during the government shutdown. They were counted in the calculation of this Unemployment Rate. Either way ignore this. Ignore this every month. More so this month. Focus instead on the number of jobs added. Im not done yet. I do want you to Pay Attention to this one. The Labor Force Participation rate, 62. 8 . That is the lowest weve seen in more than 35 years. And it suggests that more people are falling out of the workforce because they cant find jobs. They gave up trying all together. Thats a worrying trend. Despite adding more than 200,000 jobs last month why does the percentage of working age people who are actually working continue to drop. Thats a question that i posed to labor secretary thomas perez moments after think released the latest jobs report. Heres what he told me. Reporter the best remedy to address Labor Force Participation is to grow the economy. Thats why the president keeps talking about investing in our road infrastructure, investing in our capital and job reform. As you create more jobs from those investments, youll get more people in the workforce. There have been a number of economist who is have said we have not seen the fullest affect, a number commentators say that weve cut this from the budget, but its not hurting us on the employment front but others say wait until january and youll see a greater effect, do you see that coming . Weve already seen the affect of sequestration on job creation. Look at Government Employment. There has never since post world rather two to the best of my knowledge been a recovery in which we had a loss of jobs in the government sector. We had a loss of 500,000 government jobs. The majority of those jobs are school teachers, and then firefighters and police officers. If we had simply held the line on Government Employment during this recovery, our Unemployment Rate would be under 7 . I have no doubt about that. Its time to grow the economy by investing in the ways that the president has spoken about, in infrastructure. Thats why hes down in new orleans today talking about the need to invest in our nations port infrastructure. You mentioned infrastructure a number of times. That infrastructure in this country has really got to come from publicprivate partnerships. The private sector doesnt do it on its own any more. The government does not get it done on time and on schedule. But public, private partnerships could be the solution. But in truth, mr. Secretary, we dont have very many of these. The private sector doesnt trust the Public Sector, the Public Sector does not trust the private sector. It just does not seem to be going anywhere. Well, i continue to be an optimist. Why is that . Because i look at history. You look at the aftermath of the 96 gingrich shutdown and the American People were understandably and appropriately angry. And they wanted results from congress. Approval ratings went in the tank. There was a bipartisan recognition that we needed to move america forward. Dwight eisenhower, the person who brought us the interstate highway system. Ronald reagan brought Us Immigration reform. One of my preside bread sezzers elizabeth dolpredecessorsezh dole, increased minimum wage. Let me stop you right there. The president came out and supported higher minimum wage. We have a minimum wage that does not suggest that were one of the most wealthy countries in the world. People who work at minimum wage need to earn more money than they earn in this country and we need to create jobs. Many of the jobs were creating are entrytype jobs. Nobody who works in full time jobs should live in poverty. The former ceo of costco, have demonstrated that you dont have to make a choice between your shareholder and your worker. You go to a costco store anywhere in america, and you see workers making 15 to 20 plus health benefits. He has demonstrated that you can have a Retail Business model that takes care of your employees and offers a competitive product for your customers and a great return for your investors. Ive spoken to many Business Leaders who recognize that the increase in the minimum wage was not only a moral imperative, its an economic imperative. You raise peoples wages. You put money in their pocket. They spend more and buy more goods. Business versus to make and sell more goods. The economy grows. Henny ford understood that in 1914 when he raised the salaries of his employees. He said, they ought to be able to afford the cars theyre helping to make. There are plenty of Business Leaders who understand that raising the minimum wage is an economic imperative for our country. Im confident that well get there as we have in the past. In an economy where more than 11 million americans are unemployed it pays to be open to almost anything. Thats the approach taken by my next guest, samson louie who lost his hr job with the new York City Transit authority a year and a half ago. They couldnt find a job in Human Resources so he decided to switch gears, literally, and learn to be a truck driver. He gets his license next week. But heres how luck or providence works out. A job he wanted four years ago just came through. Samson is about to start work as a case manager with the citys Human Resources administration. Samson joins me now from brooklyn. Samson, youre in a church, which is an unusual place. Thats not what your job is going to be. Why are you at church . This place is special to me. It has definitely given me the ammunition, the insight, the tools of how to cope with life. I think god for everything. You have certainly enough to be thankful for, but you had a rough time. You spent a year and a half. You were laid off, and how did you live for that year and a half . I had been receiving Unemployment Insurance benefits untiluntil i think mid september. And they ran out. And then you, i guess, had a sensewe know that transportation is a growing industry. You had a sense this was not going to work out. You werent going to get back into hr, so you decided to sign up for Truck Driving lessons. Tell me about that venture . Well, i thought i was a burden on my wifei was a burden to my wife. Im not a person who likes to sit and idle hours away. Im very hands on. I like to be active. I like to just contribute to society, so i felt it was about time for me to get back in the game, if you will. So i decided to actually seek an opportunity with you did that with the aim that you would be driving a truck even though youre an office worker, an hr specialist, you decided that was fine. You need to make money and make a living, and you were hoping to get full time work doing that, and then what happened . After a hard day of training at the office, i got home, and i received a mail saying that ive been selected to come in for screening, prescreening for potentially a job opportunity with the new york city Human Resources administration. You had to take a test, the Civil Service test to even get that interview. When did you take that test . Its a funny thing that i totally forgot about the fact that i took the test. But four years ago i took the test, i think late november or early december in 2009, and i never heard back from anybody. So i totally forgot about the whole thing. Thats remarkable. I thought, you yeah. When i got there i get why you want to give thanks. But you persevered and stuck around, and youre going to end you going back in the field that you practiced, but it is important that maybe that opportunity came to you because you turned directions and you decided you would try something else. Its important that people do whatever they can to get work. Exactly. You know, you got to be a jackofalltrades considering the state of the economy. You have to find ways to make a living. We will be watching your career very closely, samson, i hope you let us pop in and see how youre doing. He was an u unemployed worker, then he trained to drive a truck and now hes going back into the field that he knows and loves. Thank you so much. Making them pay what the records recordbreaking settlements with hedge funds and banks mean for the Financial System and your money. And printing in 3d, guitars, guns, and me, no joke. Keep it right here. On friday, one of the nations biggest hedge funds bleed guilty to fraud in a settlement of an Insider Trading case. Paying a record of 1. 8 billion and jp morgan will reportedly pay 13 billion to settlement investigations into its mortgage cases. Away want to know if this is proof that the government is getting serious about making the american Financial System safer. Bethany mcclane investigated trains transactions at a firm called enron and wrote a book called smartest guys in the room, it was made into a movie. She joins us from chicago. Bethany, good to see you. For our viewers who dont remember you were on the enron case before the government was. You smelled a rat there, you probably are more familiar with corporate malfeasance than most. Between the jp morgan, the fcc, the government is growing a set of teeth. Its a form of getting tough. There is no question there has been a change of tone in the government because this jp morgan settlement is the result of actions that ran up the financial crisis which was five years ago. Its not like there are any new facts here. The government could have brought this case any time but they didnt. The fact that theyre looking at it five years later shows that something change. The government has been investigating Insider Trading for quite some time with many believe the end goal being to get steve cohen. Many believe this is a way to distract people from the lack of prosecutions but maybe im a bit of a conspiracy theorists. Like any prosecutorial body, they try to get a lot of convictions. As you remember from the enron trial this was difficult to do. Yes, it is extremely difficult to do. And make no bones about that, its not like these cases were easy to make. You may have some criminal actions but youve got a lot of delusion, you got a fair amount of outright encompetence mixed in these stories and to prove that individuals intended to do these things is pretty tough. That means where will ther therl there is a way. Scc capital feels from what was put forward, that it was a den who were attracted to people into this Insider Trading. Many could smell a rat. Jp morgan was a different thing. This is a big company, and maybe thats the argument, its too big to challenge. Back to scc keep in mind although the firm has paid 1. 8 billion and pled guilty the individual at the top who made an estimated 10 billion steve cohen has not been charged individually. It doesnt mean that he wont be but he has not been charged individually and its probably unlikely that he will be. I think thats a different story than Jp Morgan Chase. And i do think that these big firms, you know, you dont actually need i will intent on the part of chief executives. You take into account the enormous complexities of these Financial Firms and throw in incompetences and youve got a toxic brew. The concern to people watching right now is my money safer . Am i in a safer world than i was five years ago when the banks were fooling around or 12 years ago when you were righting about enron. Are we safer generally speaking . Let me start with the first one a little bit. Im not sure. You have to keep in mind that this settlement that Jp Morgan Chase is paying. It sounds great, 13 billion. Its coming out of the pockets of shareholders not out of the pockets of executives from that company. I did a search of who are the shareholders . Vanguard, and others, in other words, our money. Are we safer now . There is a big difference between aggressive actions after the fact and and thin stopping the fact, the bad thing from actually happening again. I think we all want not aggressive actions after the fact as we want the bad thing not to happen again. Those are two different parts of the government. Its a very different apparatus. Most people that argue, we are safer now, but i think that the very size and complexity of the financial industry makes me nervous. Bethany, good to talk to you. Hbethany mcclane writing for vanity fair with us from chicago. Fridays tweet wasnt so seat to end at 41. 65 a share. Call it a sophomore slump, second night letdown or just reality. Coming up, the 3d printing revolution is on and youre going to see the first 3d body selfy. Thats coming up next on real money. And to contact the centers and the lu you. So they 3d precipitated another gun. This time out of metal. The last time out of plastic. The firstever 3dprinted metal gun. You dont just print out a big begun. You you 3d print the parts and then put it together. 3d printing guns is a scary notion. But before you begin thinking this is a neuter error under the radar. The printer o that this gun wats precipitated on cost more than an ivy leaguation. League education. Heres the deal. 3d printers have way more real world applications than guns. It changes the way we manufacture things and retail, too. Not only will you be able to order a pair of shoes to your size and specification youll be able to design how they look. Ononeofakind manufacturing, d theyre experimenting with 3d printing of meat. Print an object layer by layer using a gooey substance that hardened into a very strong material. There all kind of 3d printers. Some of them cost hundreds of thousands of dollars used in big business and then some that will run just over a thousand dollars. You own a 3d printer what is the first thing you would make . We have a ton of great answers. Gene said, a 1200squarefoot argument complete with washer and dryer. And another tweet, if it we had a 3d printer that printed edible things, bacon. Now if you can believe it, this electric guitar was made by a 3d printer. And the man who made it is the president and ceo of 3d systems and actually the guy who taught me everything i know about 3d printing. I really knew nothing about it before i met with you and we talked about it. This thing has got moving parts and gears. These were not made of separate parts. The 3d printer made all of this. All in one assemblies. This was made on a bigger printer but you brought one here called the cube. People can buy for 1,300. I assume the cost of this will be coming down. But why do people need this . It will help you pursue your business, create new businesses, replace spare parts. Educate your kids. If you can think it and dream it, you can print it. Some people might use that as a hobby thing and tingeing, but there are reallife manufacturing applications. The vast majority of what we do is manufacturing of medical items, airplane parts, and even Fashion Accessories are now printed for real use in many manufacturing. Whether its industrial or this machine here the cube you need something to replicate. You came out with something just today which is really the first step in physical photography. Were going to end up with the equivalent of a 3d picture of me. Explain what is going on. 399 plug and play, its smaller than a tablet. Lighter than a cell phone, faster than a commercial break and can catch you in any size from a ton can truck to a pickup truck and print you in full color without ever leaving the environment. This is me captured, and this then, this image that were looking at, this one here, which has got different dimensions of me can then be put into a printer and what would come out . What would come out is a mini replica of you in any size you would choose in full color with a guitar in a perfect pose. This is hard for people to understand. Printing is a material comes out of the soft material, it hardens, but were hearing about meat printing and metal printing, what is this material . We can print with 100 materials including metals, nylons, plastics, waxes, any material that is in manufacturing today you can print with, and including full metal. Draw me a quick picture of what it will look like in five years and ten years. Will we all have this in our houses. Thats the wrong question. What room will be your printer. Will it be in your kitchen because you want to print your edibles. If they can print food, they would print bacon. Thats right. And now chocolate, and well have it on the market soon. But this is going to change everything. It will change how we design, manufacture, communicate, how we educate, and its going to bring about the localization of many manufacturing in a distributive way which is something that we talked about the last time when we met. We talked about the fact that we spend so much time shipping. We burn fuel shipping things. What if you could just make things where they were needed. You get the composite material to them. And it turns supply on its head and allows millions of people to launch businesses because they dont need to invest in manufacturing infrastructure. Warehousing and things like that. Thanks for share this. Good luck. I look toward to the day that we can say we had that in our studio the day it was launched. Physical photography is here. If youre looking for a job, try your video game skills. The latest in hiring trend. Im ali velshi, thanks for joining us. Hi, im lisa fletcher, and youre in the stream. Nearly three years after fukushimas nuclear disaster, how safe is it for residents and the rest of the world . Raj, in many ways, the whole story of fukushima has passed from the worlds attention, but theres so much daily suffering going on is there. And our videos have not forgotten. Fukushima has been one of the top five favorite show
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