Data Doesnt Support Matt News Today : Breaking News, Live Updates & Top Stories | Vimarsana

All of those prices are passing through and probably take a point off of gdp. >> brenda: it does matter whether it's demand or supply driven, right. >> right, every economy needs gas in 1997, and the fact is flagrantly wrong. america is not growing as much consumption as in the past and other countries like china are. as far as the economy, two kind of high gas prices, agos a result of driving more or buying more, another country or here and here is what i call a service interruption, an iran thing, that high energy price can hurt the economy and reception. one symptom, if you're driving price...

Substantial, a soaring economy is little more than we like, i kind of disagree in one respect. as you point out, brenda, 50 billion goes back into the economy. people pay higher gas prices or in matt's case, maybe saves the money and puts it at the bank and therefore the bank gets more money, but money doesn't just stop flowing, it goes somewhere. everyone just doesn't sit on the money and like i say, even if they sit on the money, it goes somewhere. so, we have more or less, kind of a closed economy, where one part is hurt, but other parts aren't. >> brenda: hold on. >> the money goes oversea...

House and not have fire insurance. for some places these are out of the ordinary events and it's not a flood plain, it's extremely rare, an earthquake or meteor shower, whatever. and wouldn't want to put the money, a bad news of money. they should pay insurance to the federal government. the federal government budget and have the money for this. but the state and local, i think to them it's a small premium. don't need to put money aside for the one in a hundred year storm, snow or whatever and doesn't make sense economically. >> brenda: matt, your thoughts? >> my thoughts, i tend to agree with...

Fannie mae. we're insuring-- >> 70% of the mortgages. >> and to walk away from it slowly. >> matt, the final word on this. i think what should happen. they should have realized this and told us the truth. it would cost a couple hundred billion dollars to fix the issue and cut the cord right then. julian is right. you can't cut the cord now and we're stuck. the government is stuck and it's going to hit probably 3, 400 billion ten years from now and coming out of our pockets. >> thanks, guys. and thank you, julian from joining us. >> thanks for having me. >> the volt, now coming to halt, at leas...

Into double dip recession, demand for oil is as low as 1977, but prices are skyrocketing and the data is overwhelmingly showing that speculators, manipulation of the markets has a big role, if not the primary role in the reason for the spikes. >> well, is it speculators or is it some supply disruption, toby? >> well, again, i think if you look, if the data, if speculators were behind this move, then why is it that natural gas is at the lowest price it's been at in ten years, and there's, now, i mean, the economy is kicking the factors in and saying two things, one is dies proportionately, diff...