pessimistic. i get the sense that the american economy is like a rocket on the launch pad. countdown and ignition and before the real liftoff has begun. what if america is stronger than the doubters would have us believe? more innovators, more adaptable than even president obama believes we are. michael darta is a believer, he put out a note today saying the new ism manufacturing numbers that came in and lifted the markets, they promise the economy will grow better than 3% next year, that would be half gain higher than wall street expects. 3% growth in gdp would be more than $400 billion in extra economic activity next year, and the stock market is is the ultimate leading indicator. today surged up past that 1,000 mark closing at 1,002 and change. the nasdaq cracked the 2,000 mark jumping 30 points to 2008. and the dow jones fired off

another nice triple digit gain up 115 points or so to close up near 9,300. dow 10,000? here we come. now a couple of recovery killers loom. factors that could render us tax americana. and they boil down to this. obama-care, obama tax increases, obama anti-capitalist rage.. but for now, this summer rally is for real. what happened today?y? what does crossing the 1-k barrier in the s&p and the 2-k level in the nasdaq mean? we are flooding the zone tonight. let's ditch the long intro and cut to a fast opinion. scott richter, you're a bull, will this market correct and sell off or will it keep rising? >> well, dennis, i think it'll have fits and starts, but it's probably going to go higher. we've got a lot of back end loaded stimulus and a lot of skeptics who haven't bought in yet, heir not in, they'll be drawn in. >> eric, what do you say?

you're with victory capital. >> i agree and i think there are a couple of other things to look at. but you can really go down the list and you can sum it up as progress at the margin, you know, we've seen metric after metric come in all pointing in the right direction. >> right. michael pinto, you're a bear, you're with, you're with delta global chief and i know you've been rather worried about the course of the economy and the government borrowing, so go ahead and sober us up. >> well, i guess it's bread, circuses, and toyota for tax americana. i guess if you spend trillions of dollars and go into debt and try to destroy the dollar, you're going to get a rise in commodities and a rise in everything priced in dollars, but this is not the kind of growth that's anywhere near the realm of reality or anywhere near healthy type of growth. >> but michael, if you could've put $100,000 into the market on march 9th and --

>> well, i did. you know, everybody used to call me a bear because i invested maybe in china or copper or oil, copper's up 80% since the beginning of year, oil is up over 100%, so, you know, i'm making more money than most people on this panel here, i'm not really a bear, i just don't want to buy financials right here. does that make me a bear? does that make me a bad person? no, i don't think so. >> back to the bullish side, joe miller, bull street capital, what do you got? >> i'm very optimistic about the way things are going, we're going to have a little bit of a pullback, profit taking as we open up in the morning, but i think for the most part, this is like a bouncing ball, we're going to have those ups and downs but we are headed to higher ground and i'm feeling good about it right now.w. >> hang on, the rest in a minute. i want to bring in bob pisani at the new york stock exchange for us detailing today's big winners. >> and the important thing, we have stronger economic news and stronger commentary from banks and autos, that's important, take a look at those financials. look at what happened over in europe, strong commentary from

hsbc as well as from barclays, that helped lift the. we saw nice moves in france, germany. bank of america, $33 million settlement to settle charges over disagreements over merrill lynch with the sec, that's a cheap settlement for them here. nice move to the up side overall. then we have the weak dollar. the dollar's been moving down to new lows for the year against other major currencies, we saw cyclical stocks move to the up side, freeport hitting highs for the year, alcoa hitting highs for the year, as well as caterpillar right near highs for the year. final lip i want to mention the autos, yes, cash for clunkers, but we also saw strengths in other areas. ford at in new high, toyota motors the highest level since september of last year, and then even the car dealers like sonic and automotive doing well. auto zone in the replacement part industry, that sector pulled back a little, less

bullish for them. finally, two big home builders, sentex, they did have their earnings out after the bell. selling fewer homes at lower prices, but a couple of metrics showed improvement. back to you. >> stick around, i'm probably going to need your expertise. let's go back to that box and go to dan. you're a bull. do you think the market keeps going? or is this the start of something even bigger?? >> i hate to be wishy washy, so far i'm agreeing with everybody. i think we certainly are going to continue to go up. >> you're not agreeing with me. >> well, we've gone really fast, i'm not sure we're going to continue at that pace and the other gentleman talking about government spending and how that's artificial, absolutely right at this state that is the case, but it's meant to seed activity later and i think it will work.. >> you mean borrow from the future. >> the thing i don't understand is we wanted government spending and stimulus because all of the economists are saying there's no way the private sector can lift

itself out of the mess. we have the government spend issing, it's clearly starting to work, now we're upset is about it. >> well, the private sector did get us out of this, that's why we don't need the government spending, we're recovering despite the plan. dennis, what a lot of people are saying we're not going to get a recovery because obama-nomics is so terrible. we're going to get a recovery because precisely what you do if you think there's going to be tax hike next year, regulations, a lot of anti-growth stuff next year, then you bring forward your economic activity into this year, so what you're going to do is you're going to try to do everything you can to make the money this year before everything, before we get hit with this parade of horribles. >> we've got to make hay while the sun shines. you are the author of the great depression ahead, and are a very sobering guy. so what do you think of jerry's theory there. go ahead and make money right now because next year it gets tough? >> yes, i think so. you got to the bigger picture, we get major peaks in the stock

market, every 39 to 40 years, 1929, 1968, and here late 2007, this is a longer term bear market, baby boomers are done with their spending cycle, we've been predicting this for many, many years and we have been predicting a bear market rally the last five to six months in the late august early september, we think we're getting near to the end of this, certainly could go higher, momentum right now, but further deleveraging in the banking system, in fact, unemployment's going to keep creeping up and keep triggering defaults on loans. >> bob pisani, all of that sounds worth worrying about, but it's traders and investors seem to be feeling better and that counts for something too, right? >> yeah, here's the problem. traders all know this, two weeks ago when the markets moved up aggressively 11%, the traders came in, we were overbought, the economic news isn't as strong as traders say and they try to short the market for six or seven days and failed every time for whatever the reason. for whatever the reason, the stock market is not going down

on bad news and is going up on any signs of good news. traders can see that as a result, shorts have very much lightened up on their positions. >> but futures are just as bullish as they were in october of '07. that's scary at this point. >> we're going to take that up in a minute, guys. going to talk in a couple of minutes. quick break. next up, we turn the focus to tech stock, big movers on that side today. i've been waiting for that. plus, we're talking about the places where you should consider investing, want to take advantage of this market? stick with me, we're back in two.

thank you. had a big day in tech land today. i just love a summer rally. makes me feel good about the world. jim goldman is our silicon valley bureau chief live in san jose. jim? >> reporter: hey, dennis, good evening to you, this has been a remarkable five months, but truly stunning when you look at the biggest names in tech and with a strong report expected from cisco systems wednesday, at least according to some analysts today. there's indications the tail winds might only be beginning to blow. considering over the past five months the s&p 500 is up about 20%. over the same period, the nasdaq is up a strong 32%, but looking at some individual tech stars you really get a sense of just how much big tech is leading this rally. apple's shares, take a look there, at 83 and change back on march 9th, they've doubled since then.. and intel up almost 60%, google at 290, over 440 at the close

tonight, research in motion, $35 on march 9th, more than doubling tonight, cisco out with earnings on wednesday, almost doubling, oracle shy of doubling, ibm up 50%, microsoft, despite the most recent earnings mishap still manages better than 50% gain and with massive cash war chests that many of these companies and an economic recovery that still hasn't gained any real traction yet, there's a thought now that some of these key players in their sectors will continue in rally mode.. back to you. >> stick with us, and for more on the roaring rally, we've got our panel back. let's start with scott richter again, the bull with the fifth third management. are you looking at tech at all? >> yes, dennis, looking at tech. high cash levels, new product cycles coming out, microsoft, for example. and we think it's a part of what the emerging markets need, which is technology to grow their economy. we do like tech. >> tom, you're the editor at etf trends, you're a bull also, this

tech incredible rally, it's happened without revenue starting to grow, but we're seeing a snapback in demand from corporate customers that could send it up higher, what do you think? >> absolutely. i.t. budgets have been the last to cut during this recession time. they love their gadgets, iphones, those are the areas where these are flowing. and as bob pisani was saying earlier, you can't find the trend. we've been above the 200-day average and with $4 trillion on the sidelines, it's tough pushing against this bull. >> how much money -- >> you can't find the trend, baby. >> how much money is on the sidelines? isn't it zero on the sidelines? all of that money's hiding in commercial paper and the bond markets. there's really nothing -- you're really -- >> money markets. >> you're devastating action in the bond market, you're calling for interest rates to skyrocket, aren't you? >> don't you see any of that money flowing back into stocks?

>> yes, but that means bonds prices will plummet and yields will rise. and as an economy, we continue to take on debt and leverage. we are more leveraged now than we were in 2008. so when the federal reserve decide to take the pedal off the metal, what will happen to this economy? >> if you're talking about -- >> not in -- >> if you're talking about -- >> yes, we're all making money now. let's plan for the future. let's look ahead and throw away the rearview mirror. let's tell our investors you're talking about debt and leverage right now as far as the consumer is concerned and apple for one is not seeing any issue with consumers holding back their spending -- >> they're weighing -- their rages are down, their average is down. >> let him finish, please. >> that's terrific, that's absolutely true, but if you talk about apple, wages might be down, but they're selling more macs than they ever have. more iphones than they have been, banking more profits than they ever have before. this company posted. >> james, how much is that -- >> the holiday quarter in

history, focusing on the consumer. let's talk about the enterprise here because that's where the real spend issing is going to come towards the back -- >> hey, dennis -- >> the enterprise doesn't spend if the consumer -- >> it's not debt that matters in this and not the overrated consumer, what drives an economy is productivity and that's why the tech sector is doing so well. how are we getting around the bad economic stuff out of washington? we're getting around it with microchips. the microchip beats congress. makes us more agile -- >> but jerry, we're not saving as a nation. >> we've got 7% savings. consumer savings rate 7%. the highest savings rate -- >> no, no, no, as a country, look at the z-1, you know this, we are increasing debt at 4.1 -- >> michael, i've got to tell you, no one in my audience is going to be looking at the z-1, babe, let's go to eric. get in on this please.

>> well, there are lots of arguments to be made on both sides. but really the most common misperception of what's driven economic progress in this country actually worldwide for the last 20 years has been productivity enhancements and no sector other than perhaps biotech is more emblematic than that of technology. >> this is one point, you know, joel miller, as much as the bears were and they have reasons to worry. there are too many dollars flooding the world, i know, but, you know, technology is a big change from the 1930s, from the '70s, from all of the other previous periods. maybe it's different, maybe we're better off than they know, joel. >> you bring up a valid point. i think the biggest thing is with people spending money on technology. it means that dollars are being used for things to move themselves forward as opposed to the staples and the necessities. they're splurging a little bit more, that goes to our consumer confidence and i think we're going to push ourselves a little bit higher. corporations also are looking for ways to get more

productivity out of the people that they have. they're using that by means of technology and i think all of this is going to continue to push us forward. i think it's a very positive thing that will make us bullish going forward. >> harry dent, all of the doubters out there say you guys don't understand, this isn't just a recovery from any recession, it's different this time, harry, what if it's not? >> well, you know, that's always possible, but look, the greatest credit bubble in history we've just seen and an unprecedented real estate bubble around the world, you can't find a comparison to this unless you go back to the 1820s and 30s, these bubbles also deleverage, always takes 3 to 5 years and a lot longer if the government tries to help. in the 30s -- >> again with the '30s, harry. >> you know, it's a different world. we are not america in the '30s, we are pax americana, baby. >> way more in debt than in the '30s. >> the '30s, the market was

weak. we have to consider the possibility that the government isn't in charge anymore, maybe oracle and the ipod is in charge. maybe global markets are in charge and they can get around obama and all his harebrain schemes. >> thanks very much, gentlemen. and we are going to hop from the markets to another sign of recovery next. auto sales. no joke, gm, chrysler, doing better too, and ford. it's all going to be okay, guys. and a little later, the stocks, the sector, the mutual funds, you might be wise to look at. cnbc reports. we're back in two minutes. at 155 miles per hour, andy roddick

has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free".

most people try to get rid of algae, and we're trying to grow it. the algae are very beautiful. they come in blue or red, golden, green. algae could be converted into biofuels... that we could someday run our cars on. in using algae to form biofuels, we're not competing with the food supply. and they absorb co2, so they help solve the greenhouse problem, as well. we're making a big commitment to finding out... just how much algae can help to meet... the fuel demands of the world. concierge claim centers. so i can just drop off my car and you'll take care of everything? yep, even the rental. what if i'm stuck at the office? if you can't come to us, we'll come to you in one of our immediate response vehicles!

what if mother won't let me drive? then you probably wouldn't have had an accident in the first place. and we're walkin'! and we're walkin'... making it all a bit easier -- now that's progressive! call or click today. ♪ you know, this market is a thing that's extraordinary. you just saw it. now see it again, ford up 268% year-to-date. up again today after ford, the great american car company showed an increase in sales. phil lebeau, our car guy is live

in la grange, illinois. philly? >> these are the best auto sales we've seen from the industry since last september.. even though we take a look at the big 3 for chrysler and general motors, those declines lower than expected and of course, a lot of attention today being paid to ford, reporting the first monthly sales increase in almost two years. that's why we take a look at shares of ford again, you talked about this increase of more than 200% and shares of ford since the beginning of the year, think about this, dennis, if you had put $10,000 into this stock when it was back in the dollar a share, you'd be sitting on about $84,000 right now, that's one story today, another one if cash for clunkers, the senate is still considering whether or not to give the program another $2 billion extension that would allow it to stay in essence going for another couple of months, without that $2 billion extension, the clunker program could run out of dollars in the next couple of days, the white house is optimistic it'll get something worked out.

>> this program is continuing, it's working, it's obviously working quite well. i think for this program to be extended, for me to be able to give assurances later in the week we're going to need to see the senate act. i think that's what the president wants the senate to do. >> reporter: if the senate does not act, this program could run out of money in the next couple of days. for more on why ford's success goes well beyond cash for clunkers, check out the blog, behind the wheel.cnbc.com. when you're here at the dealership, i have not seen this at least in a year or two, it's like shooting fish in a barrel. people are coming in with the clunkers, they're not having to work so hard, they're making this deal happen before the program runs out of money. >> nothing like urgency coming to that market. and that 11 million versus 9 million, i love to see that. thanks very much, phil. and surprise, surprise, guys, the white house is laying the ground work for a tax hike on the middle class.

they'll say they aren't doing it and during the campaign president obama was unequivocal about not raising taxes on anyone who made less than $250,000 a year. in fact, on october 18th, obama said quote, you will not see your taxes increase one single dime under my plan. not your payroll taxes, income taxes, not your capital gain taxes, nothing.. it is time to give the middle class a break and that's what i will do as president of the united states. but let's cut to just yesterday and treasury secretary tim geithner was asked if raising taxes was a possibility to pay for all of the added revenues and to pay down the deficit. and geithner says "i think what the country needs to do is understand we're going to have to do what it takes. we're going to do what's necessary." that's no denial, folks, and we're looking for denial. let's bring in the real deal squad. cnbc contributor and democratic

strategist, keith, editor of "the daily voice," and an aide to president george h.w. bush. joe, let's start with you, what do you think? obama, tax on the middle class, increases, going to happen or not? >> can you spell flip-flop, dennis? this is going to be a huge flip-flop. he's going to have to raise taxes on the middle class, there's no way to spend $1 trillion on health care, $1 trillion on recovery and stimulus and then raise federal spending by 12% without taxing the middle class.s. >> i think julie that has the answer. you just tax people more than $250,000, right? >> hey, den, i know you showed footage of robert gibbs at the briefing to, i know you watched carefully when the president's spokesperson said very clearly that obama was not going to raise taxes on the middle class despite what you may have heard over the week. >> that's because the two lieutenants on the sunday -- he will say -- >> come on, unlike george bush who was controlled by other people in his administration, he

does not answer to timothy geithner, doesn't answer to larry summers e he's the president of the united states. he said he's not going to raise taxes, he's not going to raise taxes, i don't know how much clear he could've been today. >> do you believe robert gibbs?? >> no, i do not. i give julie credit, she's going after that boogy man george bush. >> the one that left us with a $5 trillion deficit. yeah. >> at least tim geithner has intellectual integrity and not going to follow this white house down in their web of deceit. yeah they're going to raise taxes, but the real problem is this. for what?? for a stimulus bill that did nothing but give money to the states and didn't do any kind of -- >> give me a break. >> for the federal government getting into the business -- >> go ahead, keith. >> this is a ridiculous argument. all those criticism about obama has gone way overboard. they said the stimulus wasn't going to work, the economy's doing well, the gdp, you're saying yourself, dennis, we're out of the recession.

gdp is up, but are we about to -- >> obama -- >> this is despite the policy. despite the policy. >> -- please. >> one example after another, where people said the government wouldn't work and the government actually did work, the auto industry is starting to rebound right now thanks in large part to the government.. >> go ahead.d. >> give the guy some credit. >> here's the problem that barack obama is in this situation with taxes.. he lied. when he ran for president last year, these are his -- >> where's your evidence, jack?? >> let him finish, please. >> on his website he said health care will cost zero, his words, his website, because i can make up the savings in fraud. he said he didn't put any budget in for the war because he assumed it would be over. the reason he is in trouble -- the reason he is in trouble is that he -- this was all founded in deceit. >> dennis, dennis -- >> what you just said here, that is a complete fabrication. obama never said that first of all, health care was going to cost zero, what he said is -- >> yes, he did.

>> he said it was going to be deficit neutral. that's exactly what -- >> you're splitting hairs. >> dennis -- jack, jack, jack -- you go on here every night call the president a liar, you have no facts to back this up. >> are you saying -- >> i have not. jack, can i finish for one second. >> finish. >> first of all, the president has not raised taxes on the middle class, secondly not introduced a piece of legislation in health care that's going to raise your taxes. i don't know where you're coming with these facts. >> i'm not suggesting he has yet lied on taxes. >> he hasn't lied on anything, you said it. you just said it. >> he lied about -- he lied about the cost of health care, he lied about the cost of the war by very cleverly leaving a zero as though the iraq war just go away. >> do you remember what george bush did? george bush didn't even include -- >> all right, dennis. please roll the tape or jack

just said five minutes earlier, that barack obama didn't lie on taxes after saying he did lie on taxes. come on, jack, be consistent. >> you understand. >> i don't understand what you're saying. >> you're taking too much flak, joe. >> the truth of the matter is, it's easy to keep looking back at george bush. let's look forward like barack obama has said, let's look forward. the truth of the matter is the only way to pay for this $1.5 trillion health care policy, the $1 trillion stimulus and the 12% increase in the federal spending is raise taxes on the middle class. >> that's not true, joe. >> working folks -- >> how long is he going to do it then, keith. >> there's no other way. >> you can't tax millionaires, there aren't enough of them. >> the president has proposed a plan to pay for health care costs that's not going to require taxing the middle class, not going to require all of these taxes you're talking about. >> where is the money coming from? >> small business, we know that much. but who else?? >> the real craziness, why do we

have to do this at once? even our liberals -- >> guys, i've got to slow you down because we've got to take a quick break.k. i think you guys are coming back, though, but there's still a lot more ahead tonight, folks, on "cnbc reports." also just ahead tonight, other obstacles, we've talked about pax americana, but there are other things.

limb: dude that was sick! i've been hangin' up there for, what, like, forty years? and then - wham - here i am smacking the pretty off that windshield of yours. oh, what you're looking for an apology? well, toss another coin in the wishing well, pal. it's not happenin'. limb: hey, what's up, donnie? how you been? anncr: accidents are bad. anncr:but geico's good ding! with onsite windshield replacement. of the world's most revered luxury sedan. this is a history of over 50,000 crash-tested cars...

this is the world record for longevity and endurance. and one of the most technologically advanced automobiles on the planet. this is the 9th generation e-class. this is mercedes-benz.

it is a roaring rally, folks, and the preeminence is back on the rise.. america is leading the way again. look at the dow, up 114 points today, the nasdaq crosses the 2,000 mark, the s&p now on the bull side of 1,000. let's bring back the real deal squad. julie, keith on the left, and joe watkins and jack burkman on the extreme, extreme right. this is what we like. difference is what makes us great as a nation. julie, quick question here on

pax americana and whether it turns into tax americana. if he's going to keep his pledge and not raise taxes on the middle class, where are you going to find the money to pay for all of the things you're doing? >> well, dennis, some of it is going to be cost savings and come out of your pocket and the wealthiest 1% of the population who as far as i'm concerned got the vast benefits over the bush tax cuts over the past eight years and it's time we bring the marginal tax rate. >> not enough people, dennis, to get that done. >> there's not, and also, keith, the top 1% of earners already pays 40% of federal income tax even though they earn only 20% of the income. exactly how much blood are you going to get out of that stone? >> you've got to go where the money is, quite frankly, and the top 1% have been paid off by the george bush tax cuts that helped to ruin our economy and put us into the debt we're in right now -- >> the economy is stimulated -- >> they did, because the economy's in the tank, dennis.

>> this is where -- this is where keith and barack obama want to take this country. okay, let's say we go after the top 2%, let's say we go after the top 1%, we're heading into a society where the top 1% or 2% pay all of the taxes, the bottom 90% pay nothing in federal income tax and need federal subsidies just to exist. is that the kind of society you want? >> can i jump in here for a second, before george bush ever left office, before obama's plans came to fruition that you all hate so much, our deficit was huge. it was humongous and i didn't hear anybody saying what are we going to do to balance our budget? excuse me, a war -- why didn't we pay for that war, dennis, as far as i'm concerned the fact that 47 million americans don't have health care is as important to me as invading iraq. why didn't we pay for that? >> -- millionaires to pay for health care.. if it's so important and everyone agrees how great it is to cover 45 million people, why don't we charge everyone per person -- >> if you're going to ask my

opinion. listen, barack obama doesn't agree with me, but if you were to ask me, yeah, i think we need to tax high-end benefits. i completely agree with you, but that's not my point. my point is, jack, which you failed to answer, why is it that all of a sudden you're the messiah profit on deficit reduction when you paid -- you had no problem with these huge bush tax cuts while at the same time you spent and spent and spent bush had -- >> let me answer. >> she won't let me answer that. even -- >> go ahead, jack. >> even president clinton said in several interviews that had 9/11 happened and he'd been confronted with a national security emergency, even he admitted that he would've run large deficits.. >> where are you coming up -- >> do you want a society? does julie want a society where some guy goes out and has three children, throws his hands up in the air, declares himself to be a popper and say the government has to pay the bill for my kids. >> i'm talking about the guy with cancer that can't get care. >> what about this government health care plan.

look at what happened with the clinton administration and the bush administration.. two representative policies, democrats and republicans, democrats we had higher taxes, 39.6 tax rate in the clinton administration and the economy grew, the longest peacetime economic boost in husry. history. >> we keep talking about the old days. >> that tells you that we followed the policies of the past, the clinton path, we might be able to find our way out of this. >> george -- >> let's look at why health care alone might derail. >> do you think, julie, that we have a basic right to health care and that it has to be provided by government? or is health care a personal responsibility? >> dennis, i think health care is the most fundamental right and if people have the right to attend public schools in this country, taxpayer expense, they certainly -- they certainly -- >> give me a break.k. >> let me tell you, one of the problems the health care industry, we've got the best health care in the world. and it needs some fixing, but we don't need to throw the baby out with the bath water.r. let's think about what the

government-run health care plan is going to do for senior citizens, for instance, it's going to force senior citizens to have to consult with their doctors every five years. >> come on, joe -- joe. >> you say -- >> joe, i just want to know. if somebody -- does a person have a right to health care? or is it your responsibility to provide it for yourself? a right to health care, joe? >> does it present -- well, in a perfect world, every american would have the opportunity for great health care. in a perfect world. >> planet earth and yet we spend more per capita on health care, twice as much as europe and canada and yet we get less coverage. >> and we're 37 -- >> dennis, we do for those who can afford it, and you know it. we have the best health care in the world for those who can afford it and unfortunately i know people who can't get their colonoscopy covered because their health care and they have health care, give me a break. >> people in unemployment.. >> but more importantly, guys,

my point is this, ultimately health care is a personal responsibility. you've got to find a job that will pay for it or you've got to find a job to pay enough money to afford to buy it yourself. >> what about pre-existing conditions? what about people who get denied coverage because they get cancer. >> figure it out, it's not the government's job. >> figure it out. give me a break -- pathetic. >> i'm looking for -- to do it all for you. what kind of country do we live in when we tell people just because you were born with some sort of difference, that makes you incapable of taking care of the cost of your health care, we're going to let you fend for yourself. >> but, it's not that -- >> the government -- >> what you can and cannot have. >> stop bringing up these -- that's not the case. >> stop being -- >> a birth defect. >> dennis, put it to you this way, dennis, if you got cancer tomorrow and your insurer said i'm sorry, dennis, we can't

cover you anymore because you have a pre-existing condition, you go figure it out, figure out how you're going to get health care when you can't get chemotherapy. >> how is -- >> people who earning more than $250,000 and give it to people -- >> dennis, you're going to have plenty of money even after all of the tax increases, you're going to have plenty of money to pay for your health care. >> only 15 million of them can't afford it, the others choose to go without it. all right, guys, no more of the insults. up next, the market watchers are buying these days. another big jump for the market, nasdaq crossing 2,000, s&p passing 1,000, we're right back.

mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay?

yeah. onstar. standard for one year on 14 chevy models. - oh, come on. - enough! you get half. and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah. his and hers. - ( crowd gasps ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion? - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( chirp ) joint custody. - dog: phew... announcer: get work done now. communicate in less than a second with nextel direct connect. only on the now network. deaf, hardhearing and peopith speech disabilities . this is humiliating. stand still so we can get an accurate reading. okay...um...eighteen pounds and a smidge. a smidge? y'know, there's really no need to weigh packages under 70 pounds. with priority mail flat rate boxes from the postal service, if it fits, it ships anywhere in the country for a low flat rate. cool. you know this scale is off by a good 7, 8 pounds.

maybe five. priority mail flat rate boxes only from the postal service. a simpler way to ship. you could buy 300 bottles of water. or just one brita filter. ( drop plinks ) brita-- better for the environment and your wallet. most people try to get rid of algae, and we're trying to grow it. the algae are very beautiful. they come in blue or red, golden, green. algae could be converted into biofuels... that we could someday run our cars on. in using algae to form biofuels, we're not competing with the food supply. and they absorb co2,

so they help solve the greenhouse problem, as well. we're making a big commitment to finding out... just how much algae can help to meet... the fuel demands of the world. all right. we're back in pax americana's back too. the notion that let's face it, america is the greatest nation on earth, we can beat our problems and we're going to. and enough with all of the doubts out there. we've got this problem in the hand and now we're out to fix it. all right, we've been talking to you about the market.t. let's find out what you ought to be buying to make some money tomorrow, and let's start with eric at victory capital. just a quick one. >> i think you should still buy apple, you should buy a company like monsanto, the common thread, high quality, high growth, it's the way to offset the unknowable and that is if the market decides to come back -- >> wow, apple even though the

stock has more than doubled and the consumer's supposed to be dead? >> high quality, clean balance sheet, $26 billion in cash, growing 25% a year. >> all right. good, scott richter, what you buying? >> you know, dennis, i would look at some high beta in the oil patch, something like a weatherford in the service area, they're levered to the emerging markets, i would like an at apache or anadarko or look in technology at microsoft at their new product cycle i would also look at ibm or hewlett for stimulus spending, government stimulus spending and then in biotech, i would look at something like amgen, one a bone-developing agent, which looks interesting and a drug. >> microsoft is always the major engine that might.t. what are you looking at? >> well, rather than picking individual tech stocks, buy the whole sector, the technology sector spider, xlk, also emerging markets, you too can

make money like michael pinto, buy emerging markets. >> emerging markets. >> vwo, vanguard, and solar select atf. ticker symbol t.a.n. >> solar's so cute. mike pinto, what you got? >> i actually sold a lot of my precious metal and base metal holdings, i think we are overextended in the short-term. and i would look to buy tbt. >> tbt. >> yep, double the inverse. >> and it shorts the long end of the treasury. >> 20-year plus, lehman brothers 20-year plus. >> joe miller, wall street capital. >> i'm not a stock picker, i would say buy a house. >> buy a house. >> hey, i went shopping for apartments this weekend, looked at two of them and the price is looking pretty good. dan north, what are you buying? >> well, we're a credit shop and bottom up, we look at companies to see if they're paying their bills or can, and from an economic point of view, we

strongly believe the economy is is recovering, going to look good from the third quarter on. that said our business looking forward from bankruptcies we still think it's kind of risky everywhere so we wouldn't favor a particular industry in the the moment. >> harry dent you have a dark view of the world but dark view you can even make money. what are you buying? >> the s&p 500, like the sh and etfs here in the next couple of weeks.s. sentiment shows that stocks are near an intermediate top and the dollar of all surprise is near an intermediate low which does not bode well for commodities near term at least. we like short s&p and conserving cash and people can buy gold and oil. >> someone write that down, harry said short the s&p in 2002 and with it being 1,000, more individual investors will jump in and want to share. jerry poor what, do you think? >> i think the pax-americana play has been, always will be technology, ingenuity, buy the tech sector. it's how we beat the socialist,

global yiz, better than anybody has in the history of the world. the best technical advantages known to mankind. as we come out of the recession into the recovery we'll be so much more better and agile than the rest of the world. >> pax americana personified. all of you guys are great americans. thanks for being with us. one of my bigger dot-com dot-com enemies may be turning around. wear he not bff but you never know. and tomorrow on "squawk" all things washington, health care, cash for clunkers among others and back in two minutes. taking its rightful place

in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz.

. he's declared war on the blogosphere. hey all you bloggers in your mom's basement wearing just a pair of underwear, dennis has you in his sights. >> you digital dickweed. >> den sis on the warpath, who

side are you on? watch "cnbc reports" weeknights at 8:00 p.m. eastern. ♪ many years ago a great sigh fly flick came out with a memorable catch phrase, "in space no one can hear you scream." in the blogosphere, something like this, in cyberspace, everyone vents their spleen, and in the financial blogs the screams of agony from the bitter bears are almost deafening. though few will admit to it they're like john cleese as the black night in "monty python and the holy grail." he gets an entire arm lopped off in combat and declares it's just a flesh wound. one item on ibankcoins.com, ,

posted by a blogger calling him the rajun cajun under of an unheard of headline "dennis kneale was right." he writes " -- it's funny to see the markets bash the guy when the market continues to go up on a daily basis. i don't want to get cock, in the stock market i've been wrong plenty of times before.. a lot of the financial bloggers try to prove the american economy is doomed, too much debt, too much government spending, not enough saving, the weak threat of inflation or deflation. they leave out how much better are we feeling and the ability of pax americana to adapt and rebound, to fix the problems that plague us and we are on the path of doing just that. i'm placing my faith in business. you just watch, folks, american capitalism will rocket us back

up to the top of the world. i'm dennis kneale. that is all for us tonight. we are back at 8:00 tomorrow. thanks for watching "cnbc reports." undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free.

during times like these it seems like the world will never be the same. but there is a light beginning to shine again. the spark began where it always begins. at a restaurant downtown. in a shop on main street. a factory around the corner. entrepreneurs like these are the most powerful force in the economy. they drive change and they'll relentless push their businesses to innovate and connect. as we look to the future, they'll be there ahead of us, lights on, showing us the way forward. this is just the beginning of the reinvention of business. and while we're sure we don't know all the answers, we do know one thing for certain, we want to help. come see what the beginning looks like at openforum.com

when she started forgetting things, i was hoping it was nothing. grandma! what a nice surprise! mom, it's sunday. that's when i knew i couldn't wait. mom's doctor said these were signs of alzheimer's, a type of dementia, and that prescription aricept could help. he said it's the only treatment proven effective... for all stages of alzheimer's. studies showed aricept slows the progression... of alzheimer's symptoms. it improves cognition... and slows the decline of overall function. aricept is well tolerated but not for everyone. people at risk for stomach ulcers... or who take certain other medicines... should tell their doctors... because serious stomach problems... such as bleeding may get worse. some people may experience fainting. some people may have nausea, vomiting, diarrhea, bruising, or not sleep well. some people may have muscle cramps... or loss of appetite or may feel tired. in studies, these were usually mild and temporary. mom. talk to your doctor about aricept. don't wait. alzheimer's isn't waiting.

america, the wealthiest country in the world, cannot afford to care for its people. the question, how to pay for the millions of americans without health insurance? all just one step away from medical catastrophe, and financial ruin. it's a debate that gets to the heart of who we are as a nation, pitting neighbor against neighbor, patient against insurer and the outcome will determine the haves and the have nots. president obama swept into office on the promise of a more equal america. we demanded change. >> this is about every family, every business and every taxpayer who continues to shoulder the burden of a problem that washington has failed to solve for decades. >> now, change is coming, but is

it the kind of change we want? many fear the price tag for change will ruin the quality of care, endanger our economy, and diminish our stature as a global leader, bringing to light crucial questions. how much is a life worth? is one life worth more than another? and will health care reform come at the expense of capitalism? tonight, the brightest names in industry and government come together to move the conversation forward, in "meeting of the minds: the future of healthcare." good evening. i'm maria bartiromo. tonight, i'm joined by an extraordinary panel of leaders, thinkers and visionaries who each have a stake in the most important debate facing americans today, health care. thank you all for being here very much. we appreciate your time. america has reached an inflection point. we are a nation of nearly 50 million uninsured, living