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The economic system. i mean, wall street was collapsing. the whole economic structure of the country was falling apart. that's been stabilized. i think he's done a good job in moving in a number of directions with respect to iraq and afghanistan and trying to launch the middle east peace process again. but where i think it has not gone as well and reflected in the election just a few days ago, was that he is nhas not communicated to the american people what we're going to do about getting jobs back and getting the economic recovery down to the retail level where people are still unemployed. wa...

Class and they are seeing the retail level, things are going slowly and most people will not do the shopping, until they get up there... >> is that denial. >> for some of them and you look at what people are spending their money on, $225 for clothing, $181 for electronics, and, every kid has to have a calculator and a computer and $102 for shoes and $96 for supplies and pocket protectors, did you wear that in high school. >> nerdy stuff... i had a lot of nerdy stuff. >> yeah, right. >> with the binder and -- is there a particular area of the retail group that looks like they'll do better than ...

Lousy mortgage at a time at the retail level. on the other hand, might cost more. banks have to make up the money. unfortunate the rest of us may have to pay an extra tenth percentage point on a mortgage. that said, do we really want a financial system that's built on sort of taking more from the duped so the rest of us can get a better deal? probably not. >> yeah. >> blow up in the end, we're all in trouble. >> if the economy stabilized, because everyone's getting a fair deal? >> no question about that. >> so the vocabulary word of the day according to jack otter is fiduciary. >> absolutely. ...

Bill, is a thing called the value-added tax, a super sales tax, the europeans have it, they're ranging up to 20, 25 percent, you don't see it at the retail level, it's embedded in the price you pay, which is why politician love it, you can raise the tax, you blame the merchant, not the politician. that's what they're going to recommend, i think that's what they're going to push for and i think the american people are going to push back big time. it's not going to work. bill: it's interesting. we'll see that next hour. i've got to run but i want to make your stomach turn a little more here. do ...

Tumble and we'll see what happens as he continues to take aim at them. >> bill: kevin corke. amazon reported $5.6 billion in profits in the u.s. and didn't pay money in federal taxes. everybody probably owns a slice of amazon through their 401(k) or uses it. you've seen the destruction at the retail level. >> sandra: it's very convenient for many families in america but the president made it clear it's not something new. he talked about this prior to being president. >> bill: we shall follow it. >> sandra: meanwhile, an historic meeting in the making as the leaders of north and south korea agr...