carlin boroden is right. wouldn't it be nice to see the bottom for the year? her neck is out. let's hope it stays in tact. i'm disappointed in scott's miracle gro and mr. hagadore who came on this set and pretty much assured us that things were going to get better. he didn't. blamed the weather. i'm a gardener, the weather has been pretty darn good. i understand that we have a major rally in the bank stocks. i hope it continues. but don't be greedy in that group. the quarters won't be fine. i'm jim cramer. see you tomorrow. hey, larry, what do you have for us? all right, jimmy. question, are we in a global recession and just don't know it? i hope i'm very wrong. but we're going to debate later in the show. good evening, everyone. i'm "larlarry kudlow.

this is "the kudlow report." threatening a constitutional crisis over the refusal to release information on two embarrassing obama scandals. the fast and furious gun walking debacle and the leaks of national security secrets. tonight, four senators and 129 members of congress have either outright called for holder to resign or an expression of no contest. why won't holden hire a special prosecutor to go inside the white house? also this evening, president obama at one of his six, count them, six fundraisers today. he takes a cheap shot at mitt romney. he quotes the president now, you can pretty much put their campaign on a tweet and have some characters to spare. no, sir. i would call the president's comments hashtag fail.

plus, soaring federal spending under both george bush and barack obama is really behind the anemic recovery. the record low federal spending from fibill clinton and the new gingrich congress. they were able to work out a deal, so where is president obama's deal? what is he waiting for? we'll begin with the drum beat for eric holder to resign. if he doesn't, he may be held in contempt of congress eamon eamon javers joins us. republicans upset about two issues. the fast and furious gun program, that was a botched program and republicans are not at all happy with eric holder's response to it. and also, who is going to investigate the national security leaks from washington to possibly the obama administration.

republicans would like to see an independent person in that role. holder so far has announced that two government lawyers will be doing the investigating of who leaked potential national security secrets here. that debate prompted this exchange with senator lindsey graham. take a listen. >> pint somebody that all of us have confidence in. i'm asking no more of you than senator obama and senator biden ask and investigations i think are no worse than this. >> i do know these people. and they are good lawyers. they are tough prosecutors. >> again, what you're missing here in terms of that special council, whatever the title you want to give, was a sitting u.s. attorney. >> all of thf prompted senator john cornyn to take to the floor

y he upped the political ante. >> this is independent of politic, it's accountable to oversig oversight of congress, and that is transparent. mr. holder has proven that he is none of these things. and it is with regret, no tt wi anger, but with regret and sadness, i say it is time for him to resign. >> clearly, we haven't heard the last of these two issues with eric holder's tenure and obama's administration as it heads into this political season. >> appreciate it. so holder heads to the house where the oversight committee is set to vote on whether to hold the attorney general in contempt of congress. my question tonight, is it time for the attorney general to just step down? joining us this evening, we're going to have two distinguished

house members, charlie rangel, democrat from new york, john micah, republican from florida. mr. micah, can i just squ you, on the national security issue, a lot of washington insiders are fingering tom donalon who is an old political campaign guy and fannie mae lobbyist that he is doing can the leaking. can a couple of u.s. attorneys actually get into the white house to investigate at that ultra senior level. or do we, in fact, need an indppt prosecutor with some real weight. >> well, if you want the fox guarding the hen house, then these two can be the foxes. but what we want is an independent investigation. we've had special councils in the past. this is not a humongous deal.

but again, democrats and republicans are appalled at the leaks and we need a thorough investigation, and it should be done independently. when you're dealing with a chief prosecutorial arm of the united states government. so a couple of investigators, i don't care about their credentials, we need a special council, independent and find out how this intelligence got leaked. >> i myself am not accusing this tom donalan. there may be many other leakers, i have no idea. don't we need a really special independent council who has the clout and weight to go into the white house and interview senior

white house staff to find the source of this leak? >> i heard the president's response and i could not find anybody more concerned about the national security and his commitment to go after people who provide these leaks. but larry, you know, none of this is on the level. as soon as the president was sworn in, you and i know that a group of republicans decided that the best way to take back the white house was to destroy the character of the president. >> and this committee has really used the attorney general as a vehicle in other instances. these things should be done in a bipartisan way. they're threats to our national security. but you can bet your life, and i think the speaker said it, we're not going to resolve any of these things until after the election. that's where they're going and they made up their mind about it. >> mr. micah i'll come back to you on that. you called for the resignation, if i'm not mistaken.

>> that's true. and let me comment on what charlie just said. these things are best settled after the election. i think that's exactly one of the things they want. now, i'm a senior member of the committee. i've been on the committee. since i came to congress through a number of investigations. and i'm telling you that we have been overly fair. darryl and i are the two most senior members on this committee. we've waited a year and a half, we went to fall and we asked politely. we pleaded again and we've subpoenaed, and we still get no response. and i heard just a few minutes ago that now he he suddenly wants to talk with us. but we're not -- we're tired of being waltzed around. people died in this as a result of fast and furious. and now we have the latest incident with a leak of national security information. somewhere you've got to say whoa. this isn't about trying to go

after the president early on or the attorney general. it seems to me listening to the evidence, even at this late date, holder has never come clean. he's never come clean on the wiretaps and the information from the wiretaps which were subpoenaed by the committee. he's never come clean. and to me, i mean, that is something that puts him in contempt of the committee. >> first of all, no matter what the facts are, you can bet your life that every republican has already decided they're going to vote for contempt. so there's no wiggle room here for compromise. the second thing is that this silly program, which i don't think made much sense to anybody started in the bush administrati

administration. quite frankly, what the attorney is talking about is what the law is. he said he's will be to bring in the republican leadership. it's is been like pulling teeth. why is this so hard? >> absolutely. we've been patient with this latest incident. this isn't partisan. i heard dianne feinstein and others say this is out of control. but if our committee, we couldn't be more patient. and he is trying to outweight us. that why next week we said we're going to hold a hearing and bring contempt citation against him for ignoring us month after month, time after time. we need to get the facts. maybe he's innocent of dmoj of thf scheme that went wild where

a u.s. agent was killed, others were murdered and guns were pouring into mexico from the u.s. government. it's outrageous. >> i've got to leave it there, gentlemen. appreciate it very much. i wish you luck in your forthcoming election. i've known you a very long time. coming up, obama's real spending record. wait a minute, who's doing those books? we're going to do some truth spotting. we have two noted economists. nobel prize winning joseph stiglas and arthur lagger. plus, u.s. family net worth has fallen to early 1990ed levs lev. what's the president doing about it? we would ask them but he's on a fundraising friendly. six today fundraising instead of solving middle class problems. and folks, don't forget free

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>> welcome back. here's an easy rule of thumb. the less uncle sam is spends, the faster the kmern economy grows. the more we spend, theless we grow. easy enough. who uses this rule at its best? bill clinton. along with the federal government, spent spending all the way down to 19.5%. that's the largest spending cut in modern times. now, it produced one of the greatest periods of prosperity in u.s. history. why can't proum use the same rule of thumb now? art laffer joins us. he co-wrote this op ed along with our pal steve moore. there it is.

in your piece, you mentioned that president obama has been bragging that he's the lowest spender in 60 years. you say it's bill clinton. who is right? >> well, bill clinton was great on spending throughout the full eight years in his office. i pleen, as you know, i supported clinton in both terms and he cut spending a lot and frankly as a result of getting out of the way and bringing government out of there, we had one of the biggest booms in all history. bill clinton did a great job as president. he cut tax rates as well on capital gains, cut them on elderly workers. he cut tax rates in his first two years of office. he was spectacular all the way through. i think he was a great president. >> is obama a hero or a goat? and what about george bush? is he a hero or a goat?

>> well, let me just tell you. that obam in during all the years of george bush's big increase in spending, which were george bush's last two years in off the, he spent, i mean, huge increase in spending as you can tell from that chart. obama was either complicit in or did not make opinion on all of those spending increase. you had the pelosi house and the reid senate and that's really where the spending took off. once obama came into office, he spent on obamacare, he pushed in the $862 billion stimulus. dodd/frank and all sorts of ores and still proposing stimulus. he's no different than george w. bush. they both ruined the economy in my mind. it's not liberal or conservative. it's economic policies and spending is the problem.

>> more spending, the stronger the economy. i want to ask if you agree with that formulation. >> no, i don't. correlation doesn't prove causation. there was a lot going on. i agree with art on one thing. clinton was a great president. but i don't agree on all the particular policies. it wasn't the spending cut. one of the things that we were the beneficiary of was the fruits of the technology of government investment in the internet, which was the basis of some of the most spectacular innovations that the private sector brought to market. this was a really good example of the interaction between good public spending and dynamic private sector. >> if you cut it, it's a tax cut. and you say the clinton prosperity was a tax cut and as i understand it, you're saying under president bush and under

president obama spending has gagner up. you cite some number, as high as 27%, 28% of gdp. you're saying that's a tax hike, which has caused the anemic recovery. what us your response to joe who disagrees. >> i don't disagree with all government spending, obviously. it's when you have the deficit finance stimulus spending that was done under bush and obama. it was something like 3 .75 trillion. that was a massive tax increase as joe says correctly there are lots of things that government does that makes the world debtor. and clinton did a lot of those and so are v a lot of other presidents. it's the stimulus spending that's the really the problem here. fwu this-- but that's what caus the crash. >> when the economy is at full

employment, when there's more government spending, it can crowd out the private spending, but the problem is right now, and it's been this way since late 2007, our economy is vastry underperforming. and that means more government spending doesn't crowd out the private sector. it was a multiplier effect. >> we have a very anemic economy. we're close to recession. would you advocate more government spending right now? >> yes, i would. >> do you think we need more government spending to get this economy going sfl. >> no, no we don't. government doesn't create resources, larry. it redistributes them. takes them from work es and producers and gives them to people based on some characteristic other than work effort. it doesn't create jobben s. it destroys jobs.

stimulus spending, even at less employment. >> thank you so much. art laffer, good piece in today's paper. imagine owning a tax free home. eliminating property taxes gaining traction across the country. the full story coming up. good morning! wow.

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more on the latest breaking headlines come into the cnbc news room. good evening, brian. >> i'll get to that in one second. t the former chairman of the swiss national bank joining black rock as vice chairman. resigned his post after a series of controversial securities exchanged by his wife. also, diesel fumes could cause cancer. the ruling could prompt more restrictions on diesel. the fdc says the company violated federal law by selling personal information on its website. ernst and young ceo james turley on the boy scouts is the highest ranking business leading denouncing the policy banning gay and lesbian den leaders. he says he'll work with the scouts on their policies. amazon got a $16.5 million state

department contract to put 2,500 kindles in libraries all around the world. do the math here. it comes out to 6,600 per kindle. $16 million of that contract is going to shipping and customer support. and north dakota voting on eliminating property taxes. if it passes, the legislature will have to figure out other ways to get revenue. it's getting traction in places like pennsylvania, north carolina and texas. >> all right, i've never met a tax cut i didn't like. of course, this is the oil and gas shale evolution. north dakota, hot as a pistol. but i want to ask you, you've covered this storien ott ground. is it better to eliminate the property tax or would it be better to slash the personal and corporate income tax? >> well, you know, it's a great question. the one thing i would say here, a lot of the residents have been priced out of real estate here. so much corporate money and investment money and oil money has gone in here. they can't afford it. it's a way maybe for the locals

to feel a little richer and get a little bit of benefit of all that oil money, right? even if they're not working in the industry. you make a great point nationally corporate wise, but for the people to get a little bit of boost if they're not getting tons of money out of thf oil strif is a good thing. >> oil and gas shale. brian shactman, thank you very much. obama is on a fundraising frenzy as our economy continues to falter. get this -- our deficit has doubled in a year. we need big bang growth and we need it now. we're going to faceoff with dick armey and our free market panel. over a million people have discovered how easy it is to use legalzoom for important legal documents. so start your business, protect your family, launch your dreams. at legalzoom.com, we put the law on your side.

>> >> welcome back to "the kudlow report." i'm larry kudlow. in this half-hour, the dow had a rebound day, up 163 points. but i'll tell you the truth. i'm worried the greece split-up, the euro breakup, i don't know.

i hope i'm dead wrong, but these are my worries. the stellar market panel will hopefully calm my fears. hopefully. also, jamie dimon testifies on what went wrong sfr jpmorgan. he could actually turn the tables on congress and we will show you how. but first, the campaigner in chief, that's what some are calling president obama as he's been on a fundraising tear. brian schactman back with details. >> obama has been a busy,ly zi man. this is a week's time. interesting to note, he basically stayed on the coast, not a lot on the interior of the country, which just kind of interesting. he chris crossed from the east coast all the way out to the west then back to baltimore, maryland today. now today alone, president obama scheduling six fundraising events. and according to estimates. that makes far total of 160

since he announced his re-election bid a lit more than a year ago. mark noerl says president george w. bush had about 70 at the same juncture of his presidential cycle. first, the dollar, according to politico, romney and the republican national committee raised about $77 million in may and that's compared to $60 million for obama. he has a long way to catch up, but he's catching uh. ul the talk that more stimulus could be on the way. >> he's got a new idea, though. and that's to have another stimulus and have the federal goth to spend money to try and bail out cities and states. it didn't work the first time. it certainly wouldn't work the second time. >> you talk about stimulus.

derive income from politics, 2012 will be a record year. this election could cost $2.5 billion. 1/3 of all weekdays i think in the last month or so he's been spending fundraising, larry. >> and he has excellent transportation. anyway, thanks to brian. the one notable location not on washington. the country cries out for leadership. the federal reserve just said the media net worth of american families dropped 39% in the last three years, futing us back to the early 1990s. in 2010 alone, median family income dropped nearly 8%. we desperately need an economic big bang to get home values up. question -- does the president understand how to get us there? let's talk. joining us, sirius left jab

co-host. cnbc contributor of the american enterprise institute and we welcome back the former house majority leader, dick oar mee. you see these members slumping. they' been slumping for years but they're not improving at all. you see income falling. dick, is this the time for a new spending package to help out state and local governments? is this the time to throw more money at the problem? >> no, absolutely not. larry, let me go to one fundamental point. operating from a zero baseline with a government that was a minimal part of the overall economy. he never envisioned a world in which the government would be such a big burden on the rest of the economy. and the a legacy of deficits just beyond belief.

the fact of the matter is the first thing we must do if we're going to get this nation back on track, shrink government at all levels, but particularly at the federal level, give room to breathe, relieve the private sector of this onerous burden, and then have a good stimulus to growth, the best thing i could think of would be the flat tax gives people certainty and stop the double taxation on earnings and investment. people would come forward. the fact of the matter is thes in tor class sitting is it out because they're scared to death because of this economic illiterate that haunts the white house. >> i'm not going to blame public service union workers because they own homes and they have laws in massive value, too. okay? i think in that sense we're all in this slump together. now, you heard dick ar moe tout the flat tax. you could have a corporate tax rejust. you could have some essential spending reduction. you could build a keystone jobs ready pipeline.

but most of all, your man obama has got to come back home to washington, d.c., maybe fix this incredible tax cliff that's coming on. he's nowhere to be found and because he's nowhere to be found, we see this economy slipping even more. >> larry, you're an economist and so is mr. armey. i think it's really important to identify the collect baseline. the fed report calculated the numbers through 2010. so what we've seep since then, starting with the obama presidency, we were in a deep, deep hole. this report should let us all know we were in one of the worst recessions. >> i'm not blaming obama for this report. he was only in office for a year and a half, but i'm just saying we're all in trouble when the household values continue to drop the way they are. we've got to have a big bang economic growth to get those values going.

>> i think it's really important. i represent home builders in my private practice. if you look at what the president has tried to do with the home financing market, making refinancing easier, making it so that we have a fungible marketplace for mortgage that's really where this starts. home values have come up $11 trillion. >> david, i swear, i certainly hope this is not actual political advice you give the president. because this will guarantee he will lose all 50 states. even democrats realize now, mr. carville and his people are saying, just stop it. stop trying to tell people that gee, we were losing this many jobs back in january of 2009. and things are much better now. no, they're not. the economy is growing at a very low level. the president is going to be 4% growth we're going to be lucky to get 2%.

we need big change right now, not after the election. right now. there's no reason this far into the administration, we still have the world's highest corporate tax rate. cut that immediately. >> the big idea is not -- it's the right answer. it's the right answer. no one in america wants higher tax. only you and the president. >> dick armey, if we're lucky, housing prices are in a bottoming mode. that's if we're lucky. if we're not, we're only going to go down another 5% to 10%. if housing price reduction has been one of the key aspects of this prolonged slump, what should we do, dick armey? what should we do? >> well, first of all, wre we had a horrible overstock in housing inventories. all of that has to get settled up. but people aren't going to get back into investing in a home

until the can have some confidence i have real job security and that can only come from a growing private second torte of the economy. and you' got to get the investor class, the businessman and woman in this country with some degree of confidence, i can proceed now to expand without the threat of onerous government regulation, onerous burdens of government man dates on such things as health care and so forth. >> the fact of the matter is this nation right now is more abound in terror, afraid of their government and what this government will do. >> i dependent hear any mention of how do you bring back home rates. >> i know you represent home builders. i represent underwater homes. all right? i'm not asking for a bailout. or a principle -- principal

writedown. >> stft of the matter is, we have -- >> the president should come home to washington, d.c. he should say i want to grow this economy at 35% to 6% and i'm going to sit down with the leadership in the house anticipate the senate and the first thing we're going to work on is this fiscal cliff that everybody is so scared to death of. get him off the campaign trail with six events every day and get him back to washington to grow the economy at 5% or 6%. >> great, if we could just stop the dirty money coming in from citizens united groups -- >> the president should say no tax increases until the unemployment rate is back down to 4.5%. >> larry, larry -- >> we could come to agreement on -- >> dick armey, i give you the last word. >> don't ask too much of president obama. he's got a very, very limited skill set. and if to, in fact, he came home today and gave a speech and said

i'm going to cause this economy to grow, i doubt very many people in this country would believe he had one wit of an idea how to do that. >> dick armey, you should mind your words, dick armey. mind your words, sir. >> in what way did i insult him. >> i might have disagreed with george bush but never spoke about him in those terms, sir. shame on you, dick armey. >> what did i say? he had a limited skill set. nobody believes he has any credible understanding of the economy. >> i like those kinds of limited ski skills. cut taxes. >> 506 i want to be in the political debate. i want obama to come home and start working with congressional leadership. the only way you're going to solve this family wealth drop, which unfortunately is now back over 20 years, that's how much it's fallen, is to grow the economy. i call it big bang growth.

big bang growth. we need obama to do big bang growth. if he doesn't, will mitt romney, does he have a schedule for big bang growth? how confident are you on that side? >> i think he understands what's wrong with the american economy. what will he do in the beginning? >> if romney, he set a target. this is very important to me. he set a 4%, 5%, 6% target where we should have been coming out of the deep recession. where will he start? will he solve the fiscal cliff? will he restore confidence? >> i think he already said this economy should be growing at 4% to 5%. and we could be doing that right away. and if the president doesn't come home of his own volition, the global recession will force him to come home and deal with it. >> what is romney's big idea? >> freeze regulations, fix entitlements, lower corporate tax rates. five things. >> we appreciate it very much. up next, j.b. morgan ceo jamie

dimon does a mea culpa on the eve of his testimony to congress. still ahead tonight, are we actually in a global recession as jimmy p just suggested and we don't know about it? i hope that i'm wrong, but i am worried. and our experts are going to debate it. ttd#: 1-800-345-2550

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>> >> we're getting a look at what jamie dimon is going to tell congress tomorrow. he's expected to be grilled by congress, but he could turn the tables to his advantage. good evening, amon. of. >> jamie diamonds know what you know and other washington insierds know, that it's dangerous testifying up on capitol hill. but you can actually win a congressional hearing. let me give you the five ways you can win. first, be humble.

two, be deferential. congress is shockingly susceptible to flattery. you can definitely butter these guys up. three, be vague. don't give them anything to hang their hat on. stall. members of congress are subject to time limits when they're questioning you, but you aren't. so your longer answers means you'll face fewer questions. and finally, larry, i got great advice from an old washington hand who's given a lot of advice to congressional witnesses. he says whatever you do, don't accidentally blurt out the truth. nose those are the five ways you can actually win. >> eamon javers, shockingly cynical. up next tonight, a global crack-up and a financial meltdown. i hope all of my fears are

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>> another wild roller coaster ride on wall street continues. markets rallied more than 1% across the board. blue chips index climbed 162 points. that basically erased yesterday's steep drop pu but greece, still a potential

catastrophe. we turn to simon hobbs and the latest details out of the euro zone. good evening, simon. >> good evening, larry. the euro zone's weekend promise to pump 1 billion euros has basically failed 206 stop the negative feedback loop between sovereign debt and market confidence. at one point, selling pushed what investors demand to hold madrid's debt, above the 6.8% it topped out of last november fwfr the ecb started pumping 1 trillion euros of cheap cash into the banking system to calm things down. italian bonds also suffered. it's suggested that italy might also need a bailout for which there might be insufficient emergency cash. larry, it's interesting that neither spike in yields today drew the ecb into physically intervening in the market to artificially suppress them. the european central bank is

ignoring clear signals of distress, in part to keep its pallet try for results of the rereturn of the greek election on sunday night. meanwhile in germany, angela merkel and her central bank are again pushing back against the establishment of a banking union. back to you. >> thanks very much, simon hobbs. >> let's do can some stock market work. the author "the arrogant cycle." david goldman, former head of fixed research at bank of america. currently president of macro strategy. and mike holland. you've got to help me out here, i'm worried act the euro breakup, the greece crack-up, financial market meltdown, a world recession.

i just want to lay it out. that i'm right. i hope to heck i'm not right. but none of this stuff reads very well. and david, i'm going to begin with you, how do you see it? >> the germans really loused this up, larry, because on the one hand, they demanded senior creditor status for their $100 million loan to spain, which means they basically threw the spanish debt market into a panic, but at the same time, they stretched their own credit so thin that they own debt began trading in a very bad way. german debt is now in danger of losing its safe haven status. germany's credit may be the next to be impaired. they simply can't pick up the bill for everybody. they've got to make clear that losers have to be allowed to lose and winners have to be allowed to win. if they do that, it's a handable situation. but if you try to keep stretching this over everybody, it will rip and we'll have a crisis. >> you know, i don't know a

vision of how this plays out. when i don't have a vision, it starts to worry me. the greek elections could turn out very badly on sunday. that's number one. number two, that could cause a major financial constriction, tightening. credit could just stop over there. number three, they're talking about a breakup of the you're ree zone with crazy contingencies. they're going to stop amt machines? they're going to have capital controls? the modern world, you can't do that. michael, tell me why this isn't going to lead to a worse case scenario? >> unfortunately it may, larry, but i don't think it will. and the reason i don't is because the odds that you're feeling is in part related to all of our experience in 2008 when we had a severe liquidity crisis and a manic around the world. the 17 people who were involved in europe right now understand that part of it. i don't think we're going to have the same liquidity problem irrespective of what happens in the greek elections on sunday.

we d do have a solvency probable. but i don't think the fear that you're talking about right now is unusual. i think it's reflected this stock prices and i don't think it's going to happen. >> all right. sometimes you can have a sol vennty problem and a liquidity problem at the same time. and michael, another little side light here. i'm watching oil prices come down. which basically is great, except if it signifies a world recessi recession. europe is in recession. the united states is on the cusp of recession. china is low. emerging markets in india and brazil are slow. how do we know, michael farr, we're not already in a global recession? >> well, we don't, larry, of course. but you know, you listen to cnbc, you watch cnbc closely today and listen to the great jimmy rogers who's a brilliant guy and a nice man who points out, you know, as you look at oil and look at certain commodities and you watch the world develop, these will not be bad places to invest in future years.

we have real concerns about what's going on in europe. they're not addressing the problem really the way they need to. we've got to vote in greece. greece is broke. they can't play for their debt and they're having a national vote right now to say will we accept austerity and keep sort of a bailout? or reject the whole thing and go back to the drachma? this is a huge denial. this is a diagnosis of terminal cancer and and a reaction of saying i'm going to drink carrot juice and take yoga and hope things are better by morning. reality hasn't dawned and by the type, it does, it could be a problem for the rest of us. >> we've just kind of, we've been through a lot but we've never been through this kind of odd caricature of a currency union. and if greece pulls out of that currency union, we don't know what's going to happen. we don't know what the financial impact is going to be. europeans have not guaranteed all the bank deposits of all the banks. there's a lot of things they

haven't dpoen even though they talk a good game. and mike, growth is low. and i think there's a greater chance of deflation right now than inflation. your thought? >> possible, larry. except the two largest economic engines at work today. the u.s. which is growing albeit slowly. it's growing at 1.72%, maybe we're going to have a little more than that in the future, but for right now we're growing grudgingly. i was in hong kong as you know speak fog people on the ground who run businesses. their best bet and their best guess is that the government is going to do what it said it's going to do. and that this will be the low point at 7.5% growth in the gdp and it will get stronger. the world's second largest economy may turn out to be the saving grace for european -- for the european problem. >> germany is doing very well. their biggest problem is skilled labor. there's tons of pockets of strength in europe, not just pockets. you've got spain, which is a ponzi scheme in place of an

economy you can't sai it. greece is too krucht to save. italy has 200 companies which lead the market in their segments. >> i'm looking far way out, believe me. but i want to ask -- >> best thing to come out of spain this week is rafael nadal. >> thanks. that's it for tonight's show. i don't want to be overly epessimistic but somebody's got to ask these equestions. [ male announcer ] at scottrade,

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