deal with dennis kneale. let's start with a look at the week that was. let's take look at that. we're charting all three stock indexes, a fantastic week for stock. the dow, green guy here, nasdaq up 4.2%, this yellow guy and s&p 500, up 4.1%, in five days. let's zoom out and see how the indexes fared say since june 25th? why don't we look at june 25th. dow today up a little bit, less than a percent. up 10% in that month since june 25th. that is an extraordinary surge in only 21 days of trading. we'll say that 21 days, dating back to june 25th, basically, that's the day on this show that i called the end of the recession. now, this isn't summer rally

giddiness, this tlusty up surge is based on a real turn in the economy, better than expected results and leading economic indicators, existing home sales and home building permits, jobless claims, durable goods, mortgage applications. glad i didn't give you charts on all that and optimism the obama health care won't pass and hallelujah on that one but many of us feel better. i believe we're at a point of fear fatigue. aren't you tired of feeling afraid? i sure am. here is one guy who crunched through all that improving data and improving how he feels. joe lavorgne, good lucking cuss there, a bearish guy, very depressing. you can see his spirits rising in the headlines for daily and economic reports. april 3rd, the economy remains extremely fragile.

great. glad to hear it. july 7th. better growth does not mean end to recession. look at this, from july 17th, is recession over? starting to soften up a little bit. today, the best ever, better times ahead. what's this real deal with hummer of a rally? bulls and bears, lee munson, a bull, mark caller, caller financial strategies, ceo is a bear, john buckingham is a chief portfolio manager. let's start with lee munson. should we be bracing ourselves for a big sell-off next week? that's what markets do after profit binging. >> i thought there would be and expect today to be pause and refresh but not so sure and anything we get might be mild. anything with earnings is pulling back on quality names. netflix today said something

interesting, said basically, people are still looking to save money and stay inside. profits are up, they're making more money. any type of pullback -- >> lee, after a big rise like this, whatever a 10% dip as correction and go back up again. you don't see 10% pullback, right? >> no, i don't. >> i was very bearish before this year, if you can get 3 to 5%, take it and get in. >> you're a bull, but you do sa we're in for a pull back. give me some contrast to what  lee was saying. >> we've come very far, very quickly and the earnings reaction has been fantastic, 75 of companies have beaten  expectations. i know most of the time, it's about 60% that do. we really had a tremendous  reaction. i think you can't grow straight up. i know the nasdaq was up 12 straight days before today. ultimately, you do need some sort of pull back. i would agree, that's a time if you've been sitting on the  sidelines, that's one of the

fascinating things, so much money waiting to get into the market and even today, we had the early morning sell-off, couldn't keep the market down. >> i was kind of surprised, thought for sure we'd have a nice 200 points sell-off. mark, the bear among us, you went to 100% cash a few days ago, what do you think? you will miss out on the next leg of the rally. >> the rally could happen and go to 11,000. you have to understand, most of our clients are seniors, average age about 70, they can't afford to take a hit. too many cycles hitting at once, we have a perfect storm happening. we have some glee. i'm happy, too, sick of the downside and coldness of everything over the last year. we have to talk reality. reality is we have five specific cycles hitting at the same time. >> let's not go into them all, i don't think we have the attention span to handle them. tell me, do you think you see a big sell-off next week?

>> i don't think it will be a big sell-off, between now and looking eight weeks from now, we could have a massive pullback, ye yes. >> go ahead. >> go ahead. >> there's no resistance on s&p until 11, 1200 and we don't have a retracement until 888. >> the owled fibinoche retracement, mathematician. i'll go for a 10% correction but hope it holds on more. hold on, more bulls and bears coming in after the break. we're also getting after the bull, we will pick a few winners later. have you seen the president's new poll ratings? not so good. as you hear from the song there, they're saying it's my birthday, what a great day, great week for the market. come back for the dow, just like me, "comback kid," we're back in

two as i celebrate what we'll call my 31st birthday. >> he declared war on the blogosphere. >> i predicted friday night. mean cynical blogger would trash me. >> hey, dennis is on the warpath, taking on the world's bloggers. whose side are you on? the real deal with dennis kneale. "cnbc reports" week nights at 8:00 eastern. announcer: some people buy a car based on the deal they get. - others buy the car of their dreams. - ( beeps ) during the lexus golden opportunity sales event, you can do both.

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♪ >> the bulls are back in town this week and the real deal bull bear back in full force. before we bring it in, here's bob looking ahead to next week at the big board. >> major indices up 11% in the last two weeks, can we make it three in a row? two things make the difference. big earnings, exxon, chevron, conoco, out next week. number two, a lot of talk on the economic front.

specifically new home sales, hope the prices might be moderating a little bit and hope we might see improvement in sales. >> joining our discussion, we have richard, chief investment officer and portfolio for management and trust and a capital president a bear and still with us, lee munson and mark kollar and our last gentleman, john buckingham. as we look at next week and the chances for major sell-off, peter shipp, i realize you have a more global view than that, but give us your view. big sell-off next week or will people keep loading up. >> i don't think so. i think there's probably more legs in this move. i wouldn't be surprised to see the dow get up to 10,000. i don't think that means anything about the economy. you had a 55% drop in the dow, markets don't go in a straight line, you will get bounces a lot of that on the new weakness in

the dollar. >> do you have money in this market or not? i have money in foreign stocks doing twice as good. the difference, long term fundamentals are better and not only do you get better valuations when you invest abroad and higher dividends, markets go up for years not just bear market rallies. >> yeah, foreign stocks are going up higher but shanghai in kicks up 50%, wouldn't you be better going after u.s. stocks not recovered nearly as much? >> we're more comfortable with that and get the foreign earnings from the coca-colas of the world and think corporate earnings will continue to coming through bert than expected. economic numbers are improving. everything isn't wonderful but believe u.s. stocks provide good value and when everybody's a believer we might think otherwise. we feel pretty good about the

market and earnings will carry them. >> mark, you're a bearish guy and bears build a good case for things that could come down two years from now, rampant inflation, pulls off the trading wheels on the economy, that kind of stuff. on the other hand, you're in danger missing out on two year run-up in stocks to 12,000 or something, no? >> you won't see a two year run-up in stocks. anticipating hitting a bottom in 2010. it's almost a perfect correlation that will wake everybody up. >> gee, the economy hasn't changed at all since 1930 when lee mun son the economy changeda lot not on oil, now basing it on tech, there's a huge difference, isn't there, lee? >> i think there is, absolutely. one thing peter is talking about the dollar, if everything is so

bad, dollar made a new low today, shouldn't it be lower? i'm not seeing enormous sell-off in treasuries. and china doing saber rattling they won't buy treasuries. every time we see an auction, more foreign investors buying it. >> at some point it will stop. they won't lend us money forever, especially since we're blowing the money on more government than consumer spending. >> they don't care what we blow it on, peter, they care they get paid a good return. if the economy goes into another tailspin, the first place they will go is u.s. treasury. you don't lend money to people who can't pay it back and not lend it to government whose can't pay it back. all we're doing is printing money. >> we have reserves we can't burn off. >> do you believe the u.s. government will be incapable paying off its treasury debt. >> absolutely. they can't pay it back in real purchasing power. can they print it? sure. will it give value to our creditors, absolutely not.

in order to pate off legitimately they have to dramatically increase taxes on the american public and they're not going to do that. >> john buckingham, i still think u.s. government bonds are one of the safest in the world. >> not a chance. >> absolutely, we're all intertwined intertwined globally. i don't buy the argument the u.s. is headed to heck in a hand basket. stocks are still down going back to the russell 3,000 broad  index, you're still down 37, 38% from where you were then. there's plenty of room to rebound in this short run and still not be overvalued. >> it doesn't mean stocks are a good deal just because they're down from where they were. the u.s. market, even if you go back to 2003 low, since 2003 the last six years, the dow returned about 4% a year. during the same dining tooirges t -- during the same time, hang

seng returned 33% a year. >> and you could have missed out on it entirely. but it's up 90%. >> you kcan baubs investokacan and buy foreign stocks. >> if they want to buy they better find a way to get ahold of for ren stocks. nobody will retire on the u.s. market. >> too much volatility. >> we're multinational now. the whole idea we have to buy chinese stocks reminds me in my younger days getting involved in dot.com companies, dealing in companies you didn't know. >> i kept my clients out of the dot.comes, i'm buying values, buying stocks at pes under 10, dividend yield and growing earnings at 20 to 30% a year. i'm not chasing tech. >> not in the u.s.? >> i can't find those kind of

values in the u.s. >> you don't think goldman sachs was a great value at $80 a share. >> why would you want to on it? all the profits go to management and traders. >> it was 80 a few months ago, where is it now, $140. >> you're talking short term movements. what if it's at 40 bucks in a year? what if it goes to 20? anything could happen with bailing everybody out. >> that's where we get to the whole idea of hope versus utter hopelessness and waiting for arm gedton. >> i'm not waiting for armageddon. i was getting the same stuff from you guys on cnbc in 2006 and 2007 when i was talking about the stuff that happened. it happened. a lot of bad things happen in the u.s. economy. >> i didn't hear you predicting a 40% rise in stocks, peter. >> i own stocks, i own foreign stocks, i am not trying to give

short term predictions on market movements. look at the bear rallies we had in the 1970s. >> they're great to play and you can almost double your money. >> you're going to have to do a lot more than double your money to break even on a rising cost of living. >> which gentleman was saying dennis dennis dennis. >> right here. in chicago, the entire u.s. economy relies on loans and debt, end of story. what we're seeing in the trenches are people coming in our office with hundreds of thousands of dollars on their line offers credit being taken. we're seeing people getting laid off. >> yeah, i know. you know what, i heard that story for months. i think what we're really seeing is the worst is over, man, the worst truly is over, at least for a little while. >> maybe a little while, dennis, maybe. i have to wrap. thank you very much, gentleman. have a fantastic weekend. later, we'll bring some guys back and go micro and pick winners. up next, the president's

falling poll numbers. if you're on team obama, not very good news. more when we're back in two minutes. wait. before the break, i got my friend, julie, she cannot stay away from me. >> it's your birthday. i have to be nice to you, aren't i. >> i don't think you are gonna. >> i will do my best. >> who gets credit for this rally? republicans or wall street. >> republicans or wall street? certainly not the republicans. how about wall street? if that's my choice, right there. >> be right back. ♪ ♪

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so when the moment is right, you can be ready. sichel. that's our john harwood intervi interviewing governor arnold schwarzenegger, passing a massive round of budget cuts and arnold's triumph felt reaction coming up later tonight. president obama's fight for health care could be costing him popularity. three different polls this week show approval ratings dropping, the newest from rasmussen report that shows the president's overall approval rating dropping below 50% for the first time, guys, in fact, 51% of americans now disapprove how the president is doing his job. the new poll finds 53% now oppose the congressional package on health care reform.

that is up 8 points in a single month. the man behind the poll is scott rasmussen, founder and president of rasmussen reports. thanks for being here with us tonight. i want to get a sense of scale. how big of a drop is this compared to other presidents. few other presidents started out as popular. when you're higher up, you have farther to drop. >> it's very difficult to compare presidents. the numbers for barack obama are about where they were for george bush, a little better than president clinton, not as good dollars a jimmy carter but all those men took place in different circumstances. barack obama won 53% of the vote, had a great transition and good honeymoon and right now, his numbers are coming back to earth. all about the economy. if the economy gets better, numbers will go up, it gets worse, the commutenumbers will . >> if you're one of the president's men are you not worried, because we started so

high or are you concerned. >> you're not so concerned about the polls, you're watching them and like to see them move in a different direction, what you're really worried about is the state of the economy. the president's latest downturn came out earlier this month, job reports came out. disappointing report, gave people second thoughts how the economy is going and that's what started this number sliding down. if the economy keeps going in this direction and gm comes back and asks for more bailout money, it will be a very ugly second year for team obama. >> health care can't be helping them either on this overall package. let's bring in the real deal squad, nancy skinner, and jack berkman, bomb throwing str strategist planned i don't know where to start but i think i will start with julie, i think i hear the silent scream of panic, if these guys aren't careful,

health care will injure this guy of aura of invinceability. >> you're treating him like a george bush, dick cheney, still 50%. >> 49. >> you're saying the recession is over, we turned the corner, by those metrics barack obama's numbers will be moving through the roof. >> why aren't the poll numbers moving up. >> he is in a freefall. you have to go back to richard nixon to find somebody fallen so far so fast, from the mid-60s, high 60s to beneath 50, it's health care, health care, health care, you saw with axelrod, desperation is setting in. i couldn't believe he said this trying to scare the american people, if we don't fix health care, this will cause another serious recession. >> let me jump in here. i think the fear factors are

terrible, nancy. >> freefall in the rasmussen poll always a little more conservative says 83% of democrats support him and 80% of republicans oppose him. it's gotten more partisan, dennis. that's because we see this constant incessant bashing of the stimulus. he inherited, what do you worry about, he inherited a train wreck of economy. >> nancy, at some point you have to take responsibility for the actions of this president. >> six months. >> and give credit to the people on "we figured out we have to do it on our own and the reason why the economy is coming back a little bit not because of what he has done. >> the problem with obama, he lied to the american people. >> aye amen. >> i give the clintons credit. when they came out with health care, they said we will socialize with 20% of the u.s. economy. obama didn't. started out with lies it will

pay for itself. >> can i jump in, he never said. >> yes, he did. >> it's not true. he did not lie about that. >> he said he wanted to insure the uninsured. >> to say he's a liar based on the fact he's speaking the truth what will happen to our economy in 30 years one-third of our economy will be devoted to health care costs. that's not a lie. >> jack, jack, is your name julie? can i finish my thought? you're trying to scare the bejesus out of people -- >> obama -- >> can i finish? jack, i don't understand, are you going to speak. >> dennis. >> julie. >> julie, finish. >> thank you very much. >> fast! >> i'm trying to. listen, you cannot say he's trying to socialize medicine when he's basically saying to people, you can keep your own medicine if you like it. >> julie. >> let me finish, you can keep

your own health care. >> read the bill. you can't keep your own health care. >> which bill are you referring to. >> listen to the words coming out of my mouth, i'm not stuttering, english. as it stands now if you leave a company you have no private health care, on the bill on page 46 i actually read. if you want to talk about scaring people, the president said we're going to have the "great depression" if you don't pass the bill and it has to be done by august. >> and he's right. >> here's what else is not showing up in this poll. if we had not passed the stimulus and economists across the board agree it has had an effect, we don't know what would have happened, so people don't understand -- >> fear mongering. >> i want to defend my comment. i called the president of the united states a liar, julie says that's ridiculous. let me pin it down to specifics. i'm saying he is a liar because of this reason, when he began his campaign for president and continued this more than a year, he claimed on his own website,

you can go and see it, his entire health care plan would be paid for by fraud savings, by cost savings. >> i don't know what you're talking about. >> he did not, jack. >> i'm not going to call you a liar but i think you have your facts completely. >> i worked on debate prep. >> i need you to stop talking a minute. i need a good direction for control. are we going break or other topic. >> we're going to break and coming back. stick with us. you guys out there, stick with us. you guys will be back a little later, the real deal squad, we have a lot to talk about. what else? >> you know the health care plan, wait until you hear the president want to do about education? what will it cost. >> should we work on health care first? how much can we pay for it? and more importantly, how much will you pay for it. >> and getting micro, we have

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what a week, big gains all across the board. we'll get some specific stock picks in a minute. our focus turns now to next week. before we get back to the "real deal" squad, mike huck mman is the nasdaq for the upcoming week ahead. >> nasdaq stops at 12 but not after rising in the low double digit percentage just in that short period of time. what can start another rally next week? we have more earnings in tech, media, barry diller's int interactive, an gwen, and teva pharmaceuticals and express scripts. >> let's get back to bulls and bears. peter schiff, a bearish guy, and lee munson, bullish, and mark,

bear, john buckingham, bull, and bill sischel, start us off, give us a couple stocks to look at in the coming week. >> it's rich. >> sorry. >> we like materials, overweighted there, dupont, industrials, honeywell is coming out with earnings on monday, could be some positive surprise, they have a nice dividend at 4%, price to earnings ratio relatively low. to tech, intel's numbers were wonderful, microsoft very disappointing. >> second half outlook for intel. and microsoft has a strokng second half outlook. >> intel and microsoft knocked things down and tech needs take a break. we like emt, cisco and ibm and

chances to get in cheaper. >> corporate customers have a snap back in demand that has to come into play at some point. lee munson a stock or two. >> one thing we will see in this recovery is a high savings rate along with recovery in the economy. i like amazon, started buying it because they're the wal-mart of the internet and they bought zappas and think it makes a lot of sense. >> what does high savings have to do with amazon. >> you can buy books. a great question, dennis, generally, these economies recover you look at coach, tiffany's and luxury goods and people start spending more discretionary dollars. i think this economy can recover very well and people have more interest in buying target stores or amazon and have more confident spending. i don't think we'll see a lot of high end spending as we did in the last bull cycles like

dot.com or juiced up subprime spending. >> pete ser schifr schiff, i ha for, you give me one u.s. stock. >> mining. most people haven't heard of. you want to look at exporters, mul multinationals, oil and gas, agriculture. there's some foreign tech stocks good buys. back to the u.s. market, you want to stay away from any company that depends on the u.s. consumer for revenue, don't want to invest in companies loaning money out to people expect to get paid back and stay out of the bond market. >> i'm hoping peter schiff is entirely long. >> our speculator newsletter focuses on buying undervalued

stocks, low valuation. names today that are attractive are a super value, really been crushed yielding 5%, trading fo five times earnings. chesapeake energy also crushed, technology is an area we like, synopsis with $6 a share in cas in the semiconductor area. a counterplay, counter sicyclic, cornell company, prison operator, that stock has performed poorly. >> i think prison is recession proof. mark kollar, i think you're wrapping it up, don't depress me, give me stuff to buy next week. >> i think we're getting ready, getting ready to short the market. now 100% cash across the board for six to eight weeks, looking right at the edge of the grand canyon. my clients are 70 years old, they can't afford to lose anything so we're going to hold on for right now and go short.

>> you're breaking my heart, mark. how far down can they go in eight weeks. >> my clients are old, too. >> they will outlive the dollar is the problem. >> who said my clients are old, too? who said that, which guy? >> my clients. my clients -- >> all our clients are old. young people have no money. >> they need money to spend. >> if they're 70, they will live to 90, they are long term investors. >> mark, this eight week slaughter you're staring at, how low does that dow go. >> 2800 at the worst. >> falls by 2800 points. >> over the next year, year and half. >> in the next eight weeks. >> no. it could go sideways, could go to 11,000, could back trace a little bit. >> you took all our cash out. >> dennis, there's too much volatility and too much at risk for the seniors is our concern. >> you have to worry about cash.

if you want to own cash look at other currency, singapore dollars, swiss francs, don't stay in dollars. >> i don't think this economy is falling off the cliff, not anymore anyway. >> happy birthday, dennis. >> happy birthday! >> thanks a lot. >> if you're looking for market coverage in primetime, this is the place to turn. next up, if you don't like the president's health care plan, wait until you hear his plan for education. learn all about it. it will cost you again. back in two minutes on a big week for the market. stick around. at 155 miles per hour, andy roddick

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remember that old self help book for women who love too much? how about a book for obama? on presidents who do too much? obama already has to fix the worst economy in modern list stli, reform health care, green up the energy business, but now he wants to overhaul education, a system under fire for, oh, about the past century or so. today, the president stressed the key pillar he's erecting to rebuild the stronger economy and just added a new one. listen for tonight's real deal sound check. >> one pillar of this new foundation is health insurance reform. another pillar is energy reform. we're also working to enact financial reform. even if we do all of those things, america will not succeed in the 21st century unless we do

a far better job of educating our sons and daughters. >> wow, i feel like nothing will succeed anywhere in our country unless government succeedsist in making it better. let's bring in our real deal group again. i just wish obama would focus on one thing. i think he has attention deficit disorder. >> add, man. >> attention deficit. >> i'm hoping ede ining aderol n are being passed out. he doesn't know when to stop. his education secretary is going around threatening if you don't do this, we will pull your money. that's great for democracy, forget voting on it, just we haven't seen what the plant looks like, you will be voting on it and if you don't, we will take all your money. >> the horror of trying to do

something republicans talk about all the time. >> dictatorship. >> i agree, jack, let me finis for once, said for a long time you want teacher testing to make sure teachers get rewarded not for tenure but pmerformance. that's what they're doing. >> you're missing it. you can't go around threatening people and on every issue tell the american people the world will end if you don't do this. >> who's supposed to fund the school if not the public. >> that is a good point, nancy. >> president bush was very focused, focused on two things, invaded the wrong country and took an annual surplus and turned it into -- >> he kept us safe, that doesn't count, come on? >> he did, but 9/11 happened on his watch. >> let me finish. >> let me throw out a question.

>> nancy. >> this is all about you said the deficit. if you don't fix health care in the long run, it's the deficit, if we don't do cap and trade, we won't have the green jobs to produce economic growth. all those things. >> go, jack. >> let me throw this out, dennis, can somebody give me one piece of obama domestic policy, one piece that does not involve spending money or giving money away to someone or something? >> amen. >> can somebody name me one thing. >> julie. >> i would love to name -- >> don't blame it on bush. >> are you going to let me finish. >> you usually blame stuff on bush. >> what do you want to do? listen, here's the bottom line, this man inherited a mess. >> you blamed it on bush. i told you, you were going to do it! >> i'm sorry, wait a second. i forgot, george bush left this administration with a cadillac that barack obama just trashed. i'm sorry.

>> are you kidding me? that's what he's delivering. >> 95% of working americans, he did that, he cut their taxes. >> that's not what we're talking about, what i'm trying to get you guys to talk about, if you would listen is this attention deficit disorder, for example, julie, today all week long we should have had national news coverage on the health care overhaul because it is falters and obama in danger of failing, he ends up focusing the nation's attention on the arrest of the harvard african-american professor and it's on the "nightly news" and he won't shut up and has to apologize for it. >> would you tell -- he was asked a question at the press conference and gave an answer and the press decided to run with it. >> guys, we have to cut to california for a minute, california state senate approving the budget plan today, we have to go out to lawmakers

in the lower house have agrimt agrimt -- agreement to do the same. john harwood is there and talked to arnold schwarzenegger about the big budget win. john. >> reporter: the assembly has now passed that budget deal. in some respects, california's budget nightmare the last search months is over for now. the governor was not in that interview doing any victory dance is in the end zone because those cuts are too painful. take a listen. >> what is your message to the people of california and country about this deal? is it that big hunting knife you pulled out for the video the other day? is it what it's about, zmuts th cuts? >> it is that california can stand up and take care of this. it is the biggest financial and economic crisis we have faced since the "great depression." we have 1% of the people paying

50% people paying 50% of the taxes, the rich people and makes it volatile and kind of vulnerable, because, you know, those rich people invest in wall street, and if wall street crashes now or revenues crash so we are just having the drops of $30 billion in revenues in one year and it is just very hard to deal with, but we are dealing with it. >> why should wall street look at this deal and say california's on a sounder footing now? >> well, first of all, we are, because we made really tough decisions, and like i said, out of the $60 billion, we have made major cuts, like i said more than $30 billion in cuts, we've increased revenues and that's the responsible thing to do in this kind of an atmosphere, and i think wall street is going to look at this, they made a commitment, democrats and republicans, two-thirds they needed, two-thirds to pass the budget but they did it and i think they will look at it in a favorable way when it comes to credit ratings. >> do you think the economy is

now recovering? >> we have seen certain signs but we still have, you know we still have seen the revenues fall and therefore, it bounces. we cannot really call it a recovery, even though there's signs within. >> more stimulus? >> i don't think more stimulus. i think we have to wait and everyone has to hold tight and make certain sacrifices and dial back because the realitity is one third of the wealth in the world is gone. we don't know where it is but it's gone. >> and of course, dennis, the question now is whether that california economy and the national economy come back. the governor said he's opposed to additional government stimulus but interesting point for your panel he agrees with president obama's principles on health care and says he shouldn't give up now. >> one quick question, john. a lot of my friends in silicon valley are wondering whether the budget crisis might get a movement going for a flat tax that could spread across the country. does this accord raise or lessen the chances of a flat tax

approach? >> reporter: you know, i think we've already seen the flat tax attempted push by conservatives during the bush administration and simple a didn't go anywhere. we'll see what happens with president obama's tax reform commission which he's going to solicit some ideas for. i think the system might become flatter, dennis, but i don't think we're going to go any time soon to a flat tax. >> thanks very much, john harwood. real dealers, who wants a first crack at that? ben ferguson you raised your hand. >> i've never loved this guy more in my entire life. you hear what he said? if you tax the rich people for too long they're not going to be rich for too long. >> i can't love this guy any more because he's the republican and has the courage to say obama's doing the right thing on health care so ben, you and i can agree this friday night. >> jack? >> oh, i love arnold, imewith ben. arnold schwarzenegger is my favorite politician in the country but i'll tell you this, where we're heading, he put his finger on t heading for a system where about 90% of american

people and this is obama's vision, pay no taxes and need subsidies just to exist and are supported by the other 10%. >> it sounds pretty -- >> this is barack obama's vision. >> arnold wanted to save detroit so you know you don't agree with that. dennis, if i knew it was your birthday i would have brought you a hand puppet. happy birthday. >> thank you very much. nice job all of you. thank you very much. appreciate you being here. have a great weekend, have a good night, and next up, hey bloggers i'm coming for you next. i'm going to give you lonely people something to blog up through the weekend. we are back in that flash you always hear about. when you're really in pain

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my war continues from the cowards on the blogs. they're aiming low blows at me, stuff i would have thought would be beneath the blogosphere's lowest fund of weeds, something from pond scum. an anonymous blogger, knew it was my birthday, he writes "dennis, like you i believe our recovery is under way and i know you feel bashed unrightly so and people have called you names." that's for sure. a few weeks ago i told you when you type my name into google and add the word "idiot" you get 14,000 entries. guess what?

it's up to 35,000. this guy says that dennis kneale recovery is the way to go. when you type that in you get over 50,000 entries so you bloggers work through the weekend. you have a lot of work to do to get that idiot rating up there. thanks for watching. have a great weekend. see you monday at 8:00. [ engine revving ] [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically.

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tonight, nike, a brand so powerful, so dominant, it's known around the world. >> just do it. >> 13,000 products, 16 billion in sales. and some of the most famous faces on the planet. >> it's something that represented my name and what i did to the game of basketball. that has continually transcended over time. >> a company with critics. >> a transnational corporation that exploits people. >> and connoisseurs. >> my favorite pair. >> he's got to have the shoes. 350 pairs. >> what percentage of your disposable income were you spending on shoes? >> all of it. except for my mortgage. >> it all started with a waffle iron and a college jock with an idea. >> and did you really think you

could implement this? >> yeah. i was too dumb to know better. >> now in the design studio, on the factory floor, and behind the latest blockbuster, cnbc presents "swoosh: inside nike." from the nike town store in new york city, here's correspondent darren rovell. >> good evening. this is one of nike's showcase stores, where the world's most powerful athletic shoe and apparel company displays its wares. it looks a little like a museum, which is fitting for a company that's turned its brand into a cultural icon. it all started with a few guys selling track shoes out of their cars. over the years, nike has pioneered the use of cheap foreign labor and provoked attacks from critics. it's produced groundbreaking advertising and spent a fortune paying celebrity athletes to create a mystique for its label.