costs fall to those of france and that is going to make life tough, very tough for the french in subdued growth environment going forward. what business activity there is they ain t going to get it so this is a timely wake-up call and investors need to be aware this is one of the big fault lines running through europe. the french aren t competitive and you can t have your second biggest economy in the euro zone in that situation and expect it to be sustainable. they do about it now and draw the pain or yet might be another revamp of the euro sovereign tensions that you ve seen the last few years. i think a wake-up call for many. we have to leave it there. james, great to talk to you. thank you. we will keep you up-to-date with the latest developments of the super typhoon in the philippines. later in the show we will take
messages, get buried by the extremist demagogue rhetorics that you hear from tea party activists. maybe they aren t on fox because they aren t credible with information or facts. are tea party activists trying to soften their message, amy? the last message, 2010 when we drove the messaging, we won across the board, all about the fiscal images and the economy. in 2012, when the republican party drove the message, we lost. everybody thinks the tea party we are all, you know, right-wing radical social conservative extremists, nothing further from the truth. we try to keep on point and on message about shrinking the size of government and getting rid of overbearing regulations and creating a pro-growth economy or a pro growth environment. the problem with that theory, amy, is when you start advocating and dismantling the environmental protection agency or taking away consumer product
all the fixes we put in for spain, the meetings brussel as couple weeks ago have not fixed problems this veto a problem that will spread with a crisis regarding the economy and which is going to spread. neil: when i talk to these fellows and murdoch was looking at the end environment in europe and even england, not a member of the european union but affected by the contagion, and this is not a promising environment, not a growth environment. for how long do you think? guest: well, it could be a few quarters. one thing that is good about the economy, now, versus say, 2007, we are not exactly overflighted. one of the bright sides of the employment rate being so high the companies are not overstuffed with employees so they are actually keeping a lot more cash and not building up inventories like they were. so, the from tracted recession is not going to be that, but, a couple quarters of correction is not out of the question. neil: thank you very much. good to see you.
solutions, many of them, lie with congress. but there are causes and there are many of them. a simple answer would be the cleanest, the most convenient, out of control deficits or stimulus. it s barack obama or george w. bush, but it s not that simple, not that satisfying. one cause however does stand out amongst many. cheap and ample credit. for years the ability of almost every working american to access more credit than they should have been able to, masked the underlying fact that lower and middle class incomes were not rising. people felt and in many cases actually were wealthier than their salaries or socioeconomic status would suggest. getting a loan and buying a house, often more house than you needed or would have expected to buy, made you feel wealthier. as more people bought those houses, your net worth increased. you borrowed against that house, maybe. maybe you put your kids through college with the money. maybe you bought another house or financed a small busine
solutions and right now, those solutions, many of them, lie with congress. but there are causes and there are many of them. a simple answer would be the cleanest, the most convenient, out of control deficits or stimulus. it s barack obama or george w. bush, but it s not that simple, not that satisfying. one cause however does stand out amongst many. cheap and ample credit. for years the ability of almost every working american to access more credit than they should have been able to, masked the underlying fact that lower and middle class incomes were not rising. people felt and in many cases actually were wealthier than their salaries or socioeconomic status would suggest. getting a loan and buying a house, often more house than you needed or would have expected to buy, made you feel wealthier. as more people bought those houses, your net worth increased. you borrowed against that house, maybe. maybe you put your kids through college with the money. maybe you bought another h