president obama at this morning s white house prayer breakfast, tying the story of easter to the story of america s rebirth. but the idea of any economic resurrection is proving to be a tough sell, with nearly 1 in 5 americans either unemployed or underemployed with gas prices at record levels for this time of the year, it s only helping to fuel frustration among voters. here to talk economics is our panel. peter, we ve been doing this for years now on this network. can you possibly have a functioning economy if you have a corrupt banking system, rigged trade, and screwed up energy relationships? absolutely not. america comes down to four things right now. china, energy, health care and banking. on two of those issues, romney is clearly different than the president. it s going to be an interesting face-off. which two? on trade with china and on energy.
think of the country much like a company. at the end of the day, there s a perception that if we simply cut costs, we cut spending, that suddenly we will have magically have prosperity. how does if you have an economy where the banking system is designed to suck money out of your country, not invest it using the credit default, the trade agreements are rigged in favor of trading partners, when you look at the tax code, which is designed to distort the flow of capital to a very specific group of people that is bought and sold every day in washington, if you have a rigged tax code, how does it deliver prosperity? it s not. europe is in an episode of some self-inflicted, some imposed by the markets austerity. those economies are going to have a very hard time for the
driving investment, that intervening on that, it will be difficult if not inpossible to create prosperity in this country? i think it will be. the fed is actually destroying prosperity by essentially funning demand that we can t support with earnings and production causing massive current account deficits and the flow of funds overseas and the build-up in china and opec and korea and elsewhere, a massive dollar reserves, that is totally unsustainable, unsupportable system. i think we re coming near the edge of where that can continue to remain. i got to let you go, but we have, are starting this steel on wheels tour around the country. it s the idea is to really catalyze a jobs movement in this country and jobs debate focused on rigged trade, tacks, banking and health care. we d love to have your help.
not going anywhere in the united states congress. luke, thank you so much for your for the reporting. can i just make one clarification with you, luke, before i let you go. yes, sir. around here on the dylan ratigan show we like to call it rigged trade. you mentioned it as free trade. they haven t taken my phrase up in d.c. yet? reporter: not as of yet, but come on here and crack some skulls on capitol hill, dylan, you would fit in quite well. hire a pr firm. i m set up. work the people. working for the people. you re the people s champion, my man. come out here and do it. rigged trade, baby. rnc chairman calling the new york 9 special election results undoubtedly a referendum on the democrats. the gop saying just days after the president s address to congress voters went to the polls and overwhelmingly rejected his recently announced stimulus 2. that is their spin.