. >> look, in my vie the fed kind of established this fantasyland, but a credible fantasyland in which for 30 quarters in a row they've been saying, "next year conditions are going to be really strong and we are going to raise." the data comes in. "well, we are not going to raise yet. we are going to wait until next quarter when the forecast says it is going to be great." now we're back on that cycle. >> why is this? you advise the new york fed. are they saying, we have been wrong a lot, we should adjust our position? >> that is what they should do. the new york fed has been better than most of the regional feds on that front. i think it is because, and the fed is not alone in this, i think it is because most of the forecasting models are fundamentally about reversion to the mean and we predict the future will look like the past looked. they're basically saying in the model, implicitly, when house prices go up, the data from the 2000's tells us people will spend money and the economy will come booming back. and what happened in 2006 is the thing that is abnormal, not now. >> if you are

fantasyland, i would love a formidable third candidate. i just do not see it possible. by the way, supporting donald trump. having said that, many are not. the brassica, some other names that have come up. >> a bizarre choice. i think that back in certain reflex stearate late. he is a fresh new senator from nebraska. he has to be with his children. if you will not come up to me and to weaken support-- neil: here is what they said. when i first read it, i shared your immediate reaction. a third-party entrants could deny anyone from getting the 270 electoral votes that they would need. not keen on donald trump. going to that third party candidate. what do you think of that? >> i think that it is possible. i was not a donald trump supporter, but this is the will of the american people. i am more on the paul ryan camp then i am my father's camp, quite honestly. he has had an invitation and he has been open to it. >> a convention chair. not backing the nominee. >> there are still a lot of questions. i think at a certain point, he is going to have to. he has to start being a

that is like fantasyland. he is not. >> we do not think that he will. >> he will definitely pick somebody who has -- listen, if he calls, i would say yes. i do not think that he will call. there are some great people out there. fitting the bill perfectly. so many people out there that fit this bill. i am hopeful that when he starts to actually announce his cabinet to include his vice presidential pick, a lot of the people that you were talking about, i may not like him, but i like the people he is surrounding himself with. that is where brian said i am not quite ready, but i think he will be. i think they all have to. trish: mitt romney? >> i do not know. you will have to ask him. i am hopeful that he will say, you know what, i do not like him, but i will support the party. how do you not support the party. 10 million new people in this country are coming into our party. how do you throw that to the wayside. it is very disappointing and disheartening. they get and start a third party. they do not recognize wha

we have to perpetuate the fantasyland that everything's okay and we can just open borders. stuart: do you think the migrant crisis in europe is creating -- are they near the point of rake crack up in europe because of the migrant crisis? >> i really think as i said before, europe is on its deathbed. when you look at nations like hungry, poland saying this is not good for our national security. the brussels attackers, paris attackers exploited the refugee crisis. one of them had a syrian passport. the e.u.'s coup by one world vision allows this kind of non-integration, the exploitation of refugee streams and things like the brussels attack. stuart: you know what makes me not, it's been called a big it was momma focused i say maybe we should calm down on immigration until we got it under control. i object to that and i know you do too. i've got to run. thank you are joining us is always. stuart: how about this for a worrying headline. dead people voting in california. they have been dead for years. how does that work exactly? we'll have details in a moment. elizabeth warren b