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Low. And its projected as the population continues to age in the baby boomers retire that that ratio will continue to rise in an unsustainable fashion. So, the addition to the debt taking what is already a significant problem and making it worse is it is of concern to me, and i think it does suggest that in some future downturn, which could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role it will be limited, it may well be limited. Sam fleming with the financial times. Couple of longer term questions, first of all, midway thro...

Today. Nice to see you in person for a change. I think people are predisposed to think of you as bearish. Why a bubble in the u. S. . Why this feeling now . Well, i think that we have to distinguish the different sectors in the u. S. The bubble is in the most popular stocks is making great companies. Amazon, netflix, so forth, but theyre highly priced and dont forget. October 99 to march 2000 the nasdaq 100 doubled and then it went down 70 . And navidia which is one of the millennials favorite stock declined in 2000 to 2002 by 95 . After 2007 it declined by 88 . I think we are in a financial b...

and a tanning room. >> reporter: she says it was a misunderstanding, that she took her daughter inside the room similar to this one but had anna wait while she alone went into the tanning bed. she says her daughter was never exposed to uv rays. >> she's my little girl. am i going to bring my little daughter into a # 90-degree bed? i mean, that's not normal. >> reporter: well, later that day anna's mother and father say she was playing in the back yard. it was 80 degrees. anna got a minor sunburn. at school the next day, they think she proudly told her friends she went tanning with mo...