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Economy that's based on debt to one that is based on higher wages and can cope with that. there are other economies that do this, germany is one of them. but that's a transition that we're still trying to make. i think that politicians on both sides are going to try to own the solutions to that issue. >> the fed is in a very tricky position today. janet yellen's last meeting, no move. everybody is expecting a move in march. they will take note of the market concerns. and if they feel a confidence issue, there's a variety of things they could do. they may be out of bullets in terms of lowering ...

Hit. >> back in '08? >> it was good timing. then we saw a lot of value in these top quality assets. today, the prices are high because of not just in the united states and europe and asia all the government printing money. the money is easily flowing into the best quality assets. manhattan's best iconic building certainly attracts the most money. pricingwise, it is very very high. while the u.s. economy is still growing at 2.5%. in europe we are seeing prices just as high. the economy is not even growing as much. >> do you think it is partly because of the strong dollar. is that what is doing ...

He bussed in those people. now,gyñ look part of winning a pres)á ial election is being able to organize. but he heard of a plan to walk out of his speech and then he organized people in dc andy bussed in individuals. so that roomq#@q wasvúf%j a bit ofñcñ theater, i think. but again,góçbñ that's nothing to sneeze at. at the same time, it seems like he was talking past the base, which is strange because both his father and his brother really=1] engaged the conservative base. butofl for jeb bush, it -úylu like it's a bit of anac> let me jump in:1 there.t = if jeb bush yí talking you sai...

Feather. think about the last year. we talked about the stories where campus crusaders could shut down a college speaker like ayan, hersi ali, get her banned from speak. now the united states is saying we have a geopolitical answer foe of the united states attacking an american company and really the economy. think of all the movie workers who work at some of theseés%7f>% bvqéslebnóp5rnqlji#[o/>çú# [r]qe they thought they were going to. they make minimum wage or close at these theaters. it affects everybody not those embarrassed by their e-mails. i think it's a very interesting exercise h...

Indeed. now to business, u.s. stocks made up for a two-day drop, regaining most of its losses on all three markets, closed in positive territory. cnbc's steve sedgwick is live in london for us. and good morning to you, steve. what have we got? >> reporter: well, we've got the fed pretty much giving no major surprises, apart from the fact, if anything, they're going to be quicker at getting rid of quantitative easing. there was a doubt whether the final $5 billion would be done at the october or september meeting. it's going to be october, so we'll get $15 billion off the table in qe in octob...