Stalemate over the Government Shutdown continues and now a dire warning from the Treasury Department about the debt ceiling. The governments ability to pay bills which its already incured. It says a default would be unprecedented and can be catastroph catastrophic. The value of the dollar could plummet. U. S. Interest rates could skyrocket. We will hit the debt limit on october 17th, unless Congress Raises that debt ceiling. The dow posted a triple digit loss on thursday and fell below 15,000 for the first time in a month. The markets rebounded on friday. The september jobs report which are was scheduled to be released on friday was postponed due to the Government Shutdown but the adp employment report which measures private employment showed 166,000 jobs were added last month and that was slightly below expectations. Twitter took another giant step toward going public. The Company Announced on twitter it has officially filed papers to do so and will trade under the Ticker Symbol twtr. No word on what it will exchange on or at what price. The markets faced a double threat from washington. The threat of the shut down and the debt ceiling. Joining me is chief strategist at jpmorgan funds. We had no jobs number this week. Bummer. It was tough. Were at a point where you might be able to guess what that number might have been. What kind of job growth do you see now . I think were between 150,000 and 200,000 per month. Thats the job growth weve been getting for the past three years. I dont think it changed in september. I think were still somewhere in that range. David kelly, you guys are trying to guess as well. Your number is a little bigger than mark zandi. Within the range of error were the same number. We were looking for 195,000. The Unemployment Rate was going to fall to 7. 2 . The labor market was tightening but all this is before what blew up in washington this week. With what blew up the Federal Reserve is looking pretty good when they didnt begin tapetape. They figured the fiscal wrangling in washington would slow things down and they shouldnt pull back on their bond buying program. For economic reasons they shouldnt have tapered when they met. The job market is still not where they want it to be. Inflation is below target and washington. The complaint wasnt about the economic but the fact they surprised the market instead of guiding the market. Youre not so much concerned about the Government Shutdown as this debt ceiling bumping up against that even though john boehner said this week, he would not allow the government to default on the debt. Well, thats great. Fantastic. We got to sign on the bottom line and pass the piece of legislation increasing the debt limit. Government shutdown is really hard on the federal Government Employee who is are furloughed. In terms of its broader economic consequences, but the debt limit if we breech that, i think they used the word catastrophic, that was a correct word to use. David the markets were nervous all week. What do you think . Was it the debt ceiling, the shutdown . We have earnings coming out next week as well. This is all about washington. I think people get worried. Even what we said about the employment report that is history at that stage. The longer this goes on the more uncertainty it causes and uncertainty is toxic for the markets. It causes people to hesitate to make decisions. I dont think well default on the u. S. Debt. Even in a worse case scenario. That could happen. The treasury secretary will give priority to making sure the principal interest is paid on u. S. Debt first. What we really need is a sixmonth cooling off period where we pass the legislation necessary to reopen the government and to deal with the debt ceiling and both sides need to pull back from this. Right now were headed for a collision which is really undermine the economy at the time when the economy didnt need it. David makes a really good point. If the agreement is just to increase the debt limit enough to take us down three months or even six months, i dont know that really helps us a whole lot. I dont think businesses are hiring like they should and invest like they should. Theyve got to resolve this to push the debt limit to the other side of the next election. This is having an impact on the economy . It is. Theres a lot of Good Research thats coming out showing its real jobs its effecting unemployment. In my mind this is the number one problem we have in this country. David, you dont sound like youll be buying anything in the stock market or am i misreading that . I think a little bit because the problem is for investors. If youre invested now and the market sells off because of this, at any point in time there could be an agreement the market jumps up again. The economy recovers and you miss the boat. You just have to be patient and not let how you feel about politics. I think it will be volatile. Well get a whiplash when i know this gets resolved. Earnings. They start next week. What are your expectations . I think its okay. Margins are already about as wide as they have been. Its pretty tough to continue to grow earnings strongly. Mid Single Digits earnings grow in aggregate. David, you agree . Yes. I think we might do a little bit better on a year over year basis. One thing lost here is the Global Economy is doing a bit better. If you look at the global pmi numbers that came out this week we have a situation where china, japan, the euro zone, uk, u. S. Are all growing at the same time. I think that foreign growth in the Third Quarter was a good deal better in the Third Quarter. Thank you mark zandi and daifrd kelly. Back to maria. We are eric schmidt. The man who used to run google on innovation and whether his google blaszs are rose colored. The famous female architect will join me, zaha hadid. Back in a moment. If you want to know more about what eric schmidt is thinking, you dont have to google him. We have him right here. I spoke with him about creating jobs and his bright view of the future. I think a lot of people think this is a pretty fast recovery especially if youre in europe. Its not recovering at all. Were growing about 2 a year. A lot of that is private sector is doing the right thing. We have growing economy and growing trade. The real story is innovation. Lots and lots of new things coming up. We should be proud of what america is doing here. The last time we spoke you said i think i have a plan that can create jobs. You talked a lot. Everybody thinking Big Companies create jobs. They dont on a net basis. Small companies dont create jobs on a net basis. Jobs are created by new, fast growing companies. Think venture company, entrepreneurship companies. Companies like in the Tech Industry and energy field. The problem we have is we cant get workers who operate these complicated machines. Theyre not well educated enough. We have an education crisis in america. Why dont we have the skill sets required . It is an education problem but should it be on the private sector or government . Government is a monopoly. Youre better off having lots of competition in education. The German Corporation see it as their responsibility to do job training and education for young people in their community. Maybe corporations need to help here as well. We have this whole revolution with online education. Over the next few years well have lots of choices how to educate people. Were still having a hard time moving the needle on job creation. Is it washington getting in the way . Is it the focus on Large Companies versus Smaller Companies . We need to have moreyu entrepreneurs. Lets bring them in from other countries. Lets let the ones here stay here and dont worry about visa issues. All of this innovation happening in technology. Its sort of the horse has left the stable. Ive got to get your take on this nsa scandal. Its doing what the law says. Seems the nsa is watching that amount of domestic material. You have to wonder whether thats the broad mission. We dont know if the snowden revelations are true. What google has asked is we want to legally tell you how much the pfizer courts ask us for information. I think we will be stronger as a country with more transparency with what were doing. What do you make of jeff bezo . Hes a tremendous american entrepreneur. He figures how to bring in a low price point and he shakes the market up again. Hes done it again. This will affect the market. We immediate more tablet competition. These things will do well. It is fair to say mobility is one of the biggest game changers, innovation in our lifetime . It certainly is and the biggest news in computing. Everybody wants a mobile device. Lots of different kind of mobile devices. Now theres a new generation of applications that are mobile specific. They know where you are. They make suggestions. They help your life out. If you look at the new kindles theres a bunch of features like that. Google has similar things. Its just changing everything. I talked to dan nile. Hes been a good investor. He was pretty negative on google. I want you to hear what he said. It has much to do with motorala. I think theres some serious problems. They own motorola. I dont like google at all. What planet is he on . Motorola has announced extraordinary new set of products. Well see how well they do. Motorola is not such a large percentage that it would effect it. If you want to criticize google, criticize the core revenue string and product line which has innovated for many quarters. Where is the growth in the next three to five years in google . Probably advertising. There are long term assesses at google about what strategies we do. Were having tremendous success with things like google x and fiber. They could be Revenue Sources but for the near term which is five years its advertising. As executive chairman of google, whats your role . Are you thinking big thought sns. I want to make sure innovation and invention. All human problem in the last couple thousands years has been a result of science and innovation. I want that to keep going. My thanks to eric schmidt. Up next on on the money. Build it up from the aquatic e center in the 2012 olympics to the skyscraper welcome back. A pioneer in modern architecture and one of the most famous names in the industry. Dame zaha hadid has built a career designing iconic buildings all over the world from china to the uk to the united states. She joins me right now. Good to have you on the program. Hello. Thank you for joining us. Youve designed so many buildings around the world. The aquatic building. Do you have a favorite project or a favorite type of building . No. I think were very lucky because we have such diverse products from a bridge to museum in rome and opera house. The areas where you work have some complicated economic situations. How does that play into that . What does desire to build tell you about the global vibrancy . I think it variouses from one country to the other. Most of these buildings are done through competitions. Not the economy but the situation. Really building something from the people where you can empower them. Also corporate work like in china. Weve h weve had her on the program. Youre working with her right now. Were working with her on three projects. We finished one in beijing and another one also in beijing and a third one in shanghai. Is it challenging to obtain funding . How is your business going . Are there tenants there . I think its sold out on the galaxy project. Where are you seeing the most work . Who is spending the most money . In asia. China. We have a new project in japan and singapore, korea. I think a lot of european cities picking up. Talk to us about the u. S. I know youve done two museums in the united states. The museum at michigan state. You have your first residential product in the u. S. A 300 Million Dollar skyscraper in miami. What can you tell us about it . Its moving very fast. Top End Properties are very difficult to find. Your style is iconic, futuristic and that has created some conversation and debate in some circles. Some of your ideas having been critici criticized, right . Whats the buzz out there . I dont know criticized. I think the advancement in technology in terms of fabrication and visualization is making it possible to do things that with the complexity which maybe for was a more difficult to achieve. You were born in iraq. Thats right. Whats your opinion of whats going on there now . The nation rebuilding. I think its going to take it a while. Im optimistic. I think it will eventually be okay. I think theres a desire by a lot of iraqis to rebuild and make interesting projects. Would you return there . Im doing the central bank. I think its very exciting for us. My thanks to zaha hadid. Up next, a look at the news this upcoming week that will have an impact on your money and were all about the benjamins. The sneak peek at the changing face of u. S. Currency. Days before the launch of the new 100 bill. Wait till you see it. [ marco ] im a student at Devry University. And this is my home team. This is my large lecture hall. This is my professor. And also my coach. This is my booster club. This is the guy whos graduating ready for a great career in technology. [ male announcer ] in 2012, 90 of Devry University grads actively seeking employment had careers in their field in 6 months. Find your career success in the bay area. Learn how at devry. Edu. For more on our show and guests check out the website. Here is a look at the stioirs coming up. On monday the Supreme Court begins a new term. One big case could end limits to campaign contributions. Wednesday the minutes from the last months fed meeting will be released. The markets will get a better idea of why the fed did not taper the monthly bond buying program. It was a close call. Thursday, sale will be out from the retail chain and on friday well get total sales from the month of september. Finally, a makeover for a familiar face. New hightech 100 bill goes into circulation this week. Joining me is larry felix. Great to have you on the program. Its fun to be here. This redesign was announced two years ago . Thats correct. The new 100 bill goes into circulation october 8th. What can we expect from this redesign . This is very complex. This is the first u. S. Note that not only has paper and ink and for the first time plastic. The plastic is amazing. As you move the note back and forth the images go left and right. If you move images left and right, the images go back and forth. Its a wonderful way for americans and global users to know that its real. Theres a bill in the ink well and theres a green bell that disappears and appears once you move it and also this changes from copper to green. Youre right. Thats fabulous. Even more importantly and amazing is this blue 3d security ribbon. If you mover this up and down, the image moves left and right. If you move it left and right, the image moves up and down. Thats very cool. How big of a concern is this counterfeiting of u. S. Currency . Its pretty marginal. We want to stay ahead of counterfeiters. We want to redesign currency to stay ahead. This represents the newest and latest effort in the governments attempt to stay ahead. I see. I remember in august it was reported that 30 million of the new bills had to be destroyed because of defective printing. What happened there . Was that resolved . Who paid for the unacceptable currency . They werent destroyed. The vast majority of those notes are back athe bureau of engravering and printing. Were going to flpt them. We expect over 99 of those notes to be back in circulation. There was a small percentage that had blurring of ink. How big of a job is this redesign . This has been an ongoing effort. The last note was 19996. Its been an ongoing effort for many, many years. Its clearly an attractive note. A lot of science and technology went into making this note successful. Great to have you on the program. Our plash. That will do it for us today. Thanks for joining e mp each week keep it right here where we are on the money. Have a great week. Ill see you next weekend. For a store near you go to benjaminmoore. Com bayarea. Good morn good morning. Breaking news. A top al qaeda leader, one of the fbis mostwanted terrorists, in custody this morning. After u. S. Commandos launched dual raids in libya and somalia. Were live at the pentagon. Lucky to be alive. A tiger grabbed a zoo worker at the arm as she stuck her arm in the cats cage. The dramatic effort to save her limb. And saturday nights star. Miley cyrus host and musical guest on saturday night live. The performance that has people talking today, sunday, october 6th, 2013. Announcer from nbc news, this is