Might be roughly 0 and then if you see a high stock market, he says he will feel better about the economy. From the gains from your stocks, it will drive the economy even higher. The only problem is that Consumer Spending power, it hasnt worked. There is a huge disconnect between the stock market and the economy. As long as the fed keeps artificially driving higher, investors will be happier. This will be just another bubble. Dennis be sure to watch the tom sullivan show this weekend. You can catch it at 7 00 p. M. And 10 00 p. M. On saturday and sunday at 7 00 a. M. And 7 00 p. M. Happy friday, everyone. Thank you for being with us. Gerri welcome to the willis report. Rand pauls turn with the gop. Will the establishment stand with him or abandonment . And College Students barely knowing how to read. That is the case with one citys Public School system. In miami fashion week. We will have the glitz and glamour right here on the show tonight. Gerri the deli is facing accusations tonight that it improperly uses your money, customer money to pay for operating expenses. Fidelity has been accused of investing float income, my next guest says participants a right to be angry. Check parks, welcome back to the show. You think this could be true. You might see that this is in fact true. The department of labor as you mentioned, very cared until you clear guidelines about what an employer must do to get the money out of their hands and into the hands of the employees retirement trust. They use the term as soon as practical, which means that there should not be any delays in transferring money from the corporation to the employees accounts. Dennis last year the judge ruled against fidelity because they breached a fiduciary trust and fidelity was fined over 1 million for this. This seems to be almost commonplace. Is this just business as usual in the industry . It is to a certain degree. 401k disclosure is something that we have talked about in the past year and is something that has also come to light last year. Transparency of 401k is supposed to be making its way through the industry. Dennis they are always taking a little bit of our money and putting it in their own pocket. That is right. You have mentioned the word judiciary, i brought with me to 100dollar bills and you are in charge of making sure that you have made the right decisions. If you choose this over the 100, you have broken your responsibility. Gerri youre supposed to do the best you can for your clients at all times. We believe that the practices are consistent with the law and fair to all parties and we provide valuable services to 401k clients for whom Fidelity Services is a recordkeeper and trustee. They didnt have another show tonight. I really appreciate your time. Here is a boost for your 401k today. The dow jones putting up with a sixth straight day. Bringing the index to yet another alltime high. Traders are rallying under the unemployment rate, dropping down a little. My next guest is here with us, and he has some Interesting Research out. I want to start with todays jobs numbers. You say that they may not be all they could be. This is not what we were expecting. This was the blowout report. It gets pushed to the upside in the report. But we knew that the data would be seasonally pushed out. The anybody can do this at home, you dislocate yearoveryear growth rates of the. Data. What you find is the payroll jobs growth has fallen today do not blow. The direction of jobs growth is very clearly, that its very different from the headlines come almost every commentator today, things are getting better. Gerri i have an interesting number that i hurt heard for the first time yesterday. Jobs created so far. The same period last year, 582,000. You would think that we would have a growth rate. It is down to an 18 month low, which tells us that things are not what they saw seeman headlines. Gerri let me ask you this. A lot of people say the economy is on a tear. They look at these jobs numbers and they see fourthquarter gdp and they are saying that this is a great economy. Things are turning around. Why are you so down in the dumps. We studied this in cycles and it looks like this has been going on for about a half year. All those data points that you have talked about is anybody earning a paycheck understand that. In terms of income, you see that its not all that its cracked up to be. It is from a very low base. Impact on the overall economy is a fraction of this gdp. Maybe what the sequester might have taken away. When you take a look at what else is there. Gerri not everybody is on the bandwagon. A lot of people are much more circumstantial. They say that we are barely riding the edge, maybe 2 is what were going to get. You stay at that level, it is easy to to to the other side . Just like you said, you always hear people say we were out of 2 economy. Yearoveryear, 1 growth rate. Quarter for was flat. I mean, you know you can get a smaller revision mathematically. We are seeing gdp growth weights are consistent with their session when you look at nominal gdp, weve never seen the growth rate down where it is now outside of a recession. The feds own gdi recession measure last year started to flash recession signals. Gerri you have been saying this since last july. It is relatively mild. Would you take those numbers and dont look at headlines come and do the math yourself, real gdp, 1. 6 , rarely seen outside recession. Nominal gdp, its never been seen in the last 65 years and those are the facts. I think that what is happening is we have recessions and recoveries. But i think what is going on is why thats so hard to expect what we are saying . It took a year for people to realize that we were in a recession. A lot of economists respect the great economist, the one that led the National Bureau of Economic Research nine months in spite of a recession. Gerri i think your analysis is fascinating. Theres a lot of people out there who believe that what has gone on in this economy is in some cases, many ceos are saying that this is a bump and im going to get for a while. So i will take advantage of it. A lot of ceos agree with us. A lot of people were out of work agree with us. I think the Federal Reserve agrees with us. Gerri thank you for coming on. Fascinating and now says not something you hear everyday. Back to this day in business history, back in 1817, 24 stockbrokers created what we know as the new york stock exchange. The very first listed company was the Big Bank Bank of new york are the marketplace to rapidly arbitrating a million shares a day until the stock market crash of 1929. Ultimately, the dow jones recovered and then with more than 2000 listings in the combined market capital. 196 years ago the big board was founded. We are just getting started, including California Park officials have been hiding funds on purpose. And regarding high school graduates, you have to hear this. Our Education System is failing our kids coming up next. Announcer you never know when, but thieves can steal your identity and turn your life upside down. Hi. Hi. You know, i can save you 15 today if you open up a charge card account with us. You just read my mind. Announcer just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. Thats why you need lifelock to relentlessly protect what matters most. [beeping. ] helping stop crooks before your identity is attacked. And now you can have the most comprehensive Identity Theft protection available today. Lifelock ultimate. 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Order now and also get this shredder to keep your documents out of the wrong hands a 29 dollar value, free. Get protected now. Call the number on your screen or go to lifelock. Com to try lifelock protection risk free for a full 60 days. Use promcode gethelp. Plus get this document shredder free but only if you act right now. Call the number on your screen now gerri sometimes there is one number that describes everything you need to know about a topic. We have one of those today, and it has to do with education. If you want to understand the state of education in this country, with the defense. Nearly 80 of new York City High School graduates have trouble with basic skills like reading and writing and math. The vast majority dont have the basic skills you would expect of a half their age. The shocking news was reported by a lot untried local cbs affiliate today, saying that 11,000 kids have graduated from the citys high school and needed remedial courses to relearn the basics before entering new Yorks Community college system. This is a just a poor kids issue. The chancellor appeared on our program and she said that underperformance can be seen in kids of all background, the poorest kids in america ranked 26 out of 30 developed nations and math compared to their peers. That is a trend that you have heard about before. In fact, they also ranked 26. Schools are not confined to ghettos, they played every neighborhood. A report by the Georgetown University center on education and workforce on the u. S. Economy will create nearly 47 million new replacement jobs in the next five years. More than half of those will require some college education. We are not producing enough educated workers to fill those positions. You can watch out for more jobs going to china and india and we dont want that. When it comes to education it could not be higher stakes. Mayor Michael Bloomberg is planning on putting education high on his list when he leaves the office later this year. He plans to bankroll charter schools. I really prefer you fix on transixes the mouse we need to have basic skills. The filibuster was against rand pauls suggestions. And park enthusiasts in california banding together. There was money there all along. Answers after the break. Gerri a scandal brewing in california. Millions of dollars in the details are coming up in 60 seconds. Gerri tens of millions of dollars supposedly missing from californias budget. Park volunteers raised thousands of dollars to keep California Parks open. Even though the money was there the whole time. Claudia cowan has the details. Reporter californias state Parks Department is in damage control mode. Even if the state was moving to close 70 state parks and volunteers were scraping together donations to keep them open. At first it was thought to be an embarrassing mistake, but an investigation says park officials deliberately stashed millions for more than 13 years. They get very protective when they think of it as their own. In a culture that they have, it determines their behavior and in this case, it was the wrong behavior. People who have been so good to us, they feel really betrayed. 350,000 were insured by this couple to keep their beloved park opened. All of their major donors had dried up and while the 70 parks slated for closure are open for now, volunteers worry that the same generosity will be there when the urgent call for help goes out next time. What we have to do is turn around to our stakeholders and our constituents and say, watch what we do. Watch what we put in place. Learn from the trust that we try to put in place for you. Regular statewide audits and new leadership at the top. Reporter for the former park administrator who resigned in a hurry last summer may not be off the hook. The Attorney Generals Office has launched an investigation that could result in criminal charges. Gerri thank you, claudia. Up next, should the publisher and stay with rand paul . And one of the biggest names in music has his own legislation keeping the paparazzi at bay in hawaii. Our panel weighs in coming up next. Hey, buddy . Oh, hey, flo. You want to see something cool . Snapshot, from progressive. My Insurance Company told me not to talk to people like you. You always do what they tell you . No. Try it, and see what your good driving can save you. You dont even have to switch. Unless youre scared. Im not scared, its. You know we can still see you. No, you cant. Pretty sure we can. Try snapshot today no pressure. Gerri the elephant in the room senator ran paul 13 hour filibuster marathon getting praise and from libertarians but against established republicans like john mccain and lindsey graham. We have former president george to be bush advisor. This is heavyduty he takes a much criticism. Is mr. Poole was to be taken seriously, he needs to do more than full political stunts to fire up pressure of libertarian kids of the college dorm. Gerri come on. This is a surprising ran paul would object to the use of drums by the government. Is this a serious political statement or stunt . I think hes a comparable were so used to politicians and not for the states people to stand up and now is there to mavericks in washington . [laughter] gerri there is a conflagration between the rotarians and oldfashioned republicans, a Country Club Republicans loggerhead can they come together . We need to to win but senator paul also has yet to crisis. Republican not there is no twoparty committed dont run as individuals, a new centralized leadership, so they played the card of republican. Gerri comeeon. Here is what john mccain said to the huffington post. He called them what go birds. But there should not have been 80 Party Response issued a just and republican gerri but these groups are urging disparate. Did not that different if they were they would run under their own brand, they dont do that. We have to be united and cannot be sniping at each other. So fighting amongst ourselves hurts our ability. Gerri let me ask you this. The issue of the drums and the government using drowns on americans, how long did it take democrats to say this is our issue . Because it was proposed by this administration they were reluctant to criticize. Is george to be bush would be an issue much earlier. No question. The president could have instructed the attorney general to put out a statement this is not acceptable under the constitution. He manufactures a crisis then let them play out. Gerri it is fascinating the way this is caught fire. But grand ball motivates Younger Voters that the party ignores, shouldnt they put that to use . Couldnt they. The party further . No question. We need to. That we need them in our party because libertarian candidates on their own dont win coming in sir fourth. Gerri thank you for your time. Have a great weekend. Hear this story. He may not be on American Idol but steven tyler has legislation for him. Dubbed a the steven tyler at making its way through Hawaii State Legislature to not take unwanted pictures of celebrities. Is it legal . Lease wheel, is it . Not all. There are already laws on the books about invasion of privacy, and using an image for profit and the first amendment. If i am in the public only celebrities get their own law . What about the rest of us . What does god have to say . Is this just ridiculous and not go into effect . From the city of brotherly love with love the statute. We should go down to hawaii and name it restorer insanity act why shouldnt celebrities enjoy the same privileges . They are celebrities. Not open places like a park where before oscars but why cant he opened up presents on Christmas Morning . Here are the unintended consequences. What is a celebrity . I can see it now. M i a celebrity or not . Gerri what is the metric . Colada. Gerri answer the question. It is much easier than they may get out. If the current law was working, we would not need this but the press or the proper r. O. T. C. Would not leave the celebrities alone in a private place. So we have to have on a lot just for steven tyler . Gerri they say it is a magnet for celebrities wingate intrude into private space in this regard safety across as a serious wine. Be clear the proper r. O. T. C. Have done despicable things the last few years. Talkedabout kate middleton, princess diana, just in the bird they are relentless. When youre by yourself why shouldnt they . There are already laws on the books you do not need the steven tyler act. It is crazy it could go on and on. [laughter] i am not buying it that the laws currently detour the paparazzi. Gerri then would why any other law be enforced . Because this is very targeted to put them on notice you cannot invade a private home. You just made my point it is targeted to celebrities . What about us. The opera see are not interested in the rest of us here is the what is going on they will give special privileges to the rich and wealthy to bring them their due spend the money and set up a household. That makes sense i cannot say there is not that a goal but celebrities are different and need a different law. There is a good question. With lindsey lower than qualify . She had a fall from grace. Ask charlie sheen. [laughter] thank you for coming. On critically important story to move its civilization. [laughter] should we spend taxpayer dollars to protect celebrates . Go to gerriwillis. Com. Something we have never done before, a sneak peek of miami fashion week. The crumbling power grid costs you money and puts the country risk. We have a leading expert coming up. At od, whatever business youre in, thats the business were in with