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That would make our goods more competitive and reduce our trade deficit. on the other hand, it would be bad for china which would suffer large losses on the dollar holdings. in short, right now america has china over a barrel, not the other way around. david, i know you both have something to say about this. david? >> well, it's very counterintuitive, isn't it? >> yeah. >> that the world's largest borrower has its biggest creditor over a barrel. most of the world doesn't see reality in that way. paul's views drew a sharp rebuke from a leading kmits at morgan stanley, steven roach, who worked a...

>> it's interesting you bring that up. colin powell speaking on blumberg said you usually oh smooth things over on taiwan and tibet. we have the public say and behind the scenes the diplomacy works, but this time we have google and now these two very famous economists going at it. i wanted to bring this up. so paul krugman said chinese currency policy is adding materially to the world's economic problems at a time when those problems are already very severe. it is time to take a stand. steven roach from morgan stanley when asked, well, isn't that taking a baseball bat at china's policy, he sai...

series called "life." we have had technical problems, so we'll have it to you later today in the 4:00 eastern hour. we hope you stay tuned for that. stay tuned throughout the day for the latest breaking news. meantime "your money" starts right now. the villains and heroes of the financial crisis -- who saw it coming and how did they cash in on it big time? welcome to "your money". >> my revealing interview with michael lewis coming up, but we begin with the real cost of health care. what you and i will pay for health care now and in the future. andrew rubin is vp of clinical affair...

go good morning and welcome to "this week." hopes dashed. >> the road to recovery is never straight. >> another 85,000 jobs gone. more than 15 million americans unemployed. >> the hardest thing is not knowing three months down the road where you're going to be. >> when will the jobs come back? what can the president do? questions for our headliner, the president's chief economist, christina romer. the buck stops with me. >> how long did it take you the traelz system failed? >> team cheney and the gop team them on. robert reich, al hunt, judy woodruff from the pbs news hour. i d...

good morning and welcome to "this week." hopes dashed. >> the road to recovery is never straight. >> another 85,000 jobs gone. more than 15 million americans unemployed. >> the hardest thing is not knowing three months down the road where you're going to be. >> when will the jobs come back? what can the president do? are we headed for a double-dip recession? questions for our headliner, the president's chief economist, christina romer. then -- >> the buck stops with me. >> obama takes the blame for the christmas bomb plot. >> how long did it take you to realize the system failed? >...