B Ri C News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Peter, the problem is -- as you said, not allowing people to look for work, like people that are unemployed in this country don't want jobs? i mean that's crazy. >> they don't want jobs? see, it's not crazy. few your o going to get $2,000 a month for your mortgage payment, another $2,000 of unemployment -- hold on. be quiet for a second. >> peter, you be quiet. >> no. >> guys, i've -- i can't be here if we don't have people who pay for us. we have go to a commercial break. stephen leeb and peter schiff with very didn't views about the economy. take a look at these four letters that i'm about t...

You talk about growth rates in brazil of 7%, russia of 4%. india of 8%, china of 9% or 10%. those sort of growth rates are essential if a portfolio is going to make serious gains when developing economies are producing a matter of a couple of cents. >> stephen, you're really one of the people who has a great international perspective on this sort of thing. where do you think people should be standing on in having bric countries in their portfolio? >> i totally agree with mr. quest. for reasons that you said at the beginning. developed countries, the markets have been terrible. if you look out ...

Average about five or six-fold. if you look at our performance, we're down. i'm not counting dividends. this is not accidental. this is, as i think richard said, because they have fabulous growth rates. but this is a zero sum gain. these countries are developing, and because they're developing, they're using tremendous amounts of resources. oil prices, you know, they've come down a little bit, but at $75, they're up about three- or four-fold since the beginning of the decade. that's because oil is needed by the bric countries. and that -- those oil prices, those copper prices, also same story ...

>> but that's trying to -- that's trying to -- >> richard, richard, when energy prices go from 4% to this person's pocketbook to 10% and that person is not using any more energy, that's a massive tax. the median income in this country is something around 50 grand. that doesn't allow you to pay for your kid's education. take another 6% out of that, and that's probably the biggest tax over a decade that we've experienced in this country, at least since the '30s. >> this is the best of all worlds in that we have disagreement on why but we have agreement on the fact that yes, you, the viewer, actu...

Talking. the four letters, b-r-i-c. if droinlt want to stick around and learn about them, they could be a mistake. they could be the feature keys to your money.