>> i've got a news alert for u vice-president joe biden has an interesting take on what is keeping lenders from refinancing. >> we know that a million refinancing saving millions of bucks a year. guess what, we could do it for another 12 million if the republicans just get out of the way. just get out of the way. right, get out of the way. stuart: we're going to put

vice-president biden on fantasy island again. the refinancing is still in place and republicans are not. >> and join keith fitz-gerald. keith, a four year high for stocks recently and now, we've got a nice run-up in the price of gold. so, i ask you, as an investor, what's more attractive to you. more money into stocks or more money into gold? >> that depends how you depain more and money. personally, i think you've got to own both and here is why. if the government is going to go ahead and print trillions of money that we don't have and saddle obligations against unborn great-great-grandchildren at this point, i think you need to own real assets including goal. the market is addicted to cheap stimulus, that means they're going to run if they get it and that's what you're seeing in the markets rights now.

anticipation of additional. >> own both if you think that ben is going to print. that's where you're coming from. >> absolutely. we're going to have to pay the pip pipe line somewhere down the line. 2013, 2014, i don't know. and some say the four year stocks is a hl sign of a romney rally. what do you make of that? >> i think that's a stretch. a lot to be sorted out in the country. there's an embarrassment in this political process in that neither side can actually come to the table and neither has the political willpower to do something about it get our fiscal house in order. to me, i think a romney rally is a stretch. stuart: it's all about ben printing, and that's at the heart of the four year high. >> that's what i hear from traders. all about them. stuart: another thing we're looking at.

16 trillion dollar. that will be our total national debt within a few days, we're at 15,982. 18 billion away from the 16 trillion dollar mark. we're paying attention to it, and it's a milestone and probably hit in the middle of the republican national convention. that's debt. you're an investor. do you care that we hit 16 trillion dollars, does it make any difference to you as an investor? >> you bet it does, because somewhere down the line we're going to have to pay for this nonsense. you need up to it. now, the actual figure not to ruin everybody's day, but look at warren and the figure is actually 222 trillion dollars, that's the present value of unfunded liabilities and we've decided to pay ourselves. so, 16 trillion is a rounding error. >> what gets to me is the interest that we're paying, i looked it up on the treasury yesterday. this year, it will be 500 besides in interest alone, that's 10 billion a week and a the lot of it going overseas and

that's a form of foreign aid. last word to you. >> i think it's disgusting, and a disservice to the american public. keith fitz-gerald, on camera, what looks like a sunny portland oregon, is that where you are? >> a beautiful day in portland. stuart: thanks, keith. see you soon. mitt romney will unveil his energy plan today. and it will be drill my frack. no end of subsidies for wind and solar, what will the business community make of that? and what about diesel prices, now it's at $4 a gallon. what will it do to commerce, the economy and your wallet. all of that up next.

>> one minute to the opening bell. here we go. what have we got on the news background today. new claims for unemployment benefits totalling 372,000, and that by the way is up last week, regarded as a weak reading, not a strengthening economy as some people will hoping for. as soon as that was released the stock market, the futures turned south and we were going to get 20, 30 points up and now we're probably going to get 20, 30

points down. a swing of maybe 50 points because of the unemployment numbers. ben bernanke, hinting yesterday that he's likely to open up the money printing spigots. earlier today that had an effect on stocks and bigger on the price of oil and gold. and oil went to $98 a barrel earlier and backed off the 97 mark and the gold, that's where the action is today. up $25 an ounce and well above 1650 and i think the latest quote is 1666, and swinging on the board. 1667. there you have it. the stock is going to open lower and old and gold sharply higher. to the big board, down 15 points in the first couple of minutes of business. yesterday, during the show, we told you about dell's troubles. it's a pc market is just not performing and the players in it are taking their hits and then after the bell, real bad news from hewlett-packard, that's another pc player, so, lauren simonetti on the floor of the

exchange, where did the stocks open? >> both have opened lower and dell is down two days in a row and hewlett-packard off by 6 1/2% and dow down by 11/2%, a couple of issues are going on. and more people are buying pc'sen the second issue, those who are going to buy a pc, waiting for the new windows operating system and the microsoft operating system to come out the end of october and then tablets and smart phones are killing the pc business and those are the damages. >> killing the pc business and nicely put there, young lady and that's dramatic. >> that's understandable. and herding in the pc business. stuart: all right. lauren, thanks a lot. compare the pc makers with apple, please. shares are up 65% this year, apple as you know know became not the richest, but highest in value company in history. now at 665 per share as of this

morning. only down a fraction from its all time high. and that's the pc market versus apple a sale of two sectors of the computer business. let's get to the election, today, mitt romney will outline his plan for the future of america's energy policy and unveil a comprehensive plan and not seen one of them in a long time and highlight three main points. one, approve the keystone pipeline, more off shore drilling, more drilling generally and three, ease regulation on natural gas and coal mining and romney says if elected, and the president, the u.s. will become, quote an energy super power. and carol, will you summarize the response of business to a plan like that. i know he's not the president, but that's his plan, what's the business's response. >> everybody wants to be energy independent. and you'll find it shocking businesses do what is in their best interest. a slew of businesses are going

to be very, very happy about that the ones that made drilling and mining machinery that depends on logistics, they'll be happy. the ones not as happy are involved in tourism in places like virginia, the carolinas, and in florida where there may be some off shore drilling and they may see it as a detriment to tourism. >> and there's no detriment to tourism around the gulf coast and there's plenty of drilling in the golf. well, there was. >> there was the rhetoric coming out of the business community and maybe a bit of posturing, and i also think that some of the folks were involved in green energy and renewable energy and feel a little slighted by this plan, because it's not a lot of focus on renewable energy and old school. so, i think that you're going to have some have's and some have notes, but overall the business community will like it. >> overall they like it. >> yeah. >> $4 a gallon diesel. >> fabulous, fabulous news for

everybody. >> and the horn there. >> now, that's the national average, $4. and it's going up just a little bit, but $4, that's a milestone. is that a negative for the economy? economy? >> of course it's a negative for the economy. anytime you have major costs of doing business going up. and the companies have less money to reinvest or they're going to have to pass it on to the consumer or perhaps a little bit of both. i like to look for the silver lining or maybe the shale lining in this particular situation, and i think that companies that are involved in making things revolving around natural gas could have a boon here and look at a company like 3m or chesapeake and focus on making gas tanks that support natural energy for trucks and cars and they naturally get a boon out of a situation like this. let's focus on the positives. >> that's interesting, because as oil goes up, diesel goes up. natural gas as a propellant for cars and trucks. >> yes. >> that becomes-- >> it becomes more viable

economically realistic. >> they're actually evaluating purchases, if they can find a one or two year pay back on the trucks or automobiles, they need to look into hybrids as well. >> i want your general opinion again. i want your opinion on romney as president, with the republican senate. and i know that's wishful thinking on the part of many, many people. what would be the effect, do you think of that political combination, what do you think? >> i think it would be such a help for the econ we've talked about before the sentiment of consumer confidence and uncertainty and that's a self-fulfilling prophesy. any movement towards change is going to be very, very good for the economy. but do you think that even with the republicans, a president romney could get the private satisfaction of social security, reform of medicare, do something with obamacare, do something with dodd frank and get the economy moving? >> and grow, i think, well, let's put it this way, it's not a job i would want to undertake,

it's a pretty massive undertaking, but i think there's hope to move at least in that right direction. we're not going to see all that have done right away, but i think we're going to see movement and that's going to inspire confidence and inspire growth and when we see the good things happening, that's going to give congress the feeling that we should take more action. do i think it's one good thing, it becomes dominos falling, but in a good way. stuart: you're in chicago. >> sometimes i'm in chicago and sometimes here. stuart: and i hear the suburbs of chicago have turned, switched from supporting president obama in '08. >> yes. stuart: to more support for romney, is that accurate. >> that's accurate. you have to remember in chicago land area we have a popular senator mark kirk who is republican so the outlying suburbs do tend to lean a little bit more republican than traditional cook county and i think a lot of people who supported obama last time and said hope and change is great. did not get the change they opened for and frustrated with

the situation today. >> welcome to new york and good to have you with us, carol, thank you very much. the man who wrote, what was supposed to be an unbiased report of the white house's investment in solyndra. turns out he is not so unbiased. new the at 10. we'll tell you about the big contributions he's making to president obama's campaign. >> let's get back to lauren on the floor of the exchange, best buy. wait a minute. a leader on the s&p now. what's going on? >> i know, it's a good day for best buy todayen they need one of the shares are higher and the news is that bloomberg is reporting that founder richard schultz is in talks once again with the board about taking the company private more than 9 million dollars, we've had a lot of news out. a new ceo who starts next month he comes from the hotel and hospitality and restaurant business and he's getting a pretty big salary and now reportedly new talks with the founder of the company to go private. we'll see stocks today.

always in the news. thank you very much indeed the dow is down 53 points we were expecting 30 points down and we've got 15 down. and time is money. 30 seconds, here is what else we have to do today. and a lot of hoopla surrounding the president's fundraisers and football stars and they attended. is that going to help the president win the youth vote and jason mattera, he's young and he'll join us, a new study shows the middle class is shrinking and the mainstream media says look how many people are becoming poorer. but what about all the people who actually moved out of the middle class or got rich? it's a big number, surprisingly enough. and california voters have a chance to reject jerry brown's tax increases, will they take it? i don't know. remember, we want to hear from you, varney@foxbusiness.com is how you reach us. and thursday morning, seven early movers for you, here we go. disappointing outlook on the apparel maker, guess.

that stock is down, what, 18%? the retailers move quicker. and hewlett-packard reported, cutting jobs as well, i believe, down 7. and big rots down 18%, a strong forecast from the food maker, hane clin celestial. and improvement at crespi cream, 100 stock at one time and 7 bucks. up 4%. and disappoint at kayak, 6%. real movement today. pacific sunware more than expected up 5%. there are real movers, watch out. dow down 53. not many people could do what the next guest has done, coaching a super bowl team. and a nascar, joe gibson gibbs

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>> 51 points down for the dow in a very low volume day. now, the price of oil, got some movement there. and the point is it's at 97.50 a barrel and about 98 this morning and gas prices went up overnight and the regular average across the country holding at 3.71. and same for diesel up slightly. we're at $4 a gallon national

average for diesel and speaking of oil prices want to make you an i wear of ta an i-- aware of development. a navy cutting home leave for carriers and sending them back to the middle east next week to counter any threat from iran according to the official navy news service and the carrier we're talking about here is the u.s.s. that happened right now. and nascar once the hottest sport in the country and once the recession hit, there's a down turn and tv audience 6.5 million. down 2 million from '05. and nascar has seen a drop in attendance. joining us is joe gibbs, he owns three nascar teams and you remember him from the washington redskins.

>> stuart, i'm live from brings tal and i understand you're a big race fan, right. stuart: yeah, yeah, yeah, okay. i know a few things about t i want to know, sir, you own three teams, what are you going to do about this declining attendance and tv ratings? how are you going to soup up the sport again? >> stuart, i think all of sports has been hurt by the economy. and i think nascar's going to have the best years still in front of it. to give you an example. all of our big sponsors and we've got some of the biggest events, coke, toyota, home depot, and they've all reupped with us in the middle of this financial problem that we're having right now. stuart: okay. >> i think this sport is alive and well and i think we've got our best years in front of us. stuart: okay, sir, earlier this year, mitt romney was asked if he follows nascar, he said quote, not as closely as some of the most ardent friends, but i have great friends that are nascar team owners. is he a friend of yours, joe, my i ask?

>> well, i think for all of us, certainly, we have great respect for the people that are running for the president's office. and i think whoever our president is, i've got to it will you what i do, i pray that our president will make godly decisions and i pray for them and that's the prayer that i pray. and i think, hey, we're open to all people and particularly our leaders in the country. and so, we invite them to come to our races and we love it. stuart: a big race on saturday, i believe? >> saturday night, we're going to be right here in bristol. m & m, the official chocolate of nascar, wants to make race day more fun and giving these seats, going to pick four people, surprise four people and give them the lounge seats and can you imagine this, stuart, think people are going to be sitting up here popping m & m's and watching 43 guys trying to conquer the world's fastest half mile. and it's going to be fun. and i hope, i hope our 18 cars

are in front and they're going to be going on this track a little bitty half mile and going 135, 140 miles per hour in a tea cup. and going to be flying. [laughter] >> did you ever race yourself? i'm sure you've gotten behind the wheel? >> i, i grew up southern california drag racing and i went strain line. i've been in the cars a little bit, but i don't go very fast. i wound up getting out of the car and thought i'd set a world record and they said you're going about half as fast as the guys here in the race cars that drive for a living so we've got the right guys driving ours, they're fast. kyle busch, denny hamlin. stuart: what's the biggest thrill, winning a super bowl or winning a nascar race? >> i've got to tell you, my wife answers it the best. she said it's like having babies, that he ever all great and tell you, football, it was one of the greatest experiences in the world. winning the super bowl.

and then we come over to racing and most people never get to enjejoy one dream in life i've had two. we've got people working on race cars and it's a great sport, we love it. my kids and family in is and it's fun, stuart, we're enjoying it and going to be here on saturday night and this place is going to be packed with a lot of other people. stuart: you know, joe, i'm out of time, but i've got to tell you, i believe, you, sir, are blessed. i think you'd it agree with that, wouldn't you. >> i definitely agree. god blessed me beyond belief. stuart: joe gibbs, you're a good man and appreciate you being with us today. thank you very much, sir. >> thanks, stuart, appreciate you having me. stuart: 9:49 coming up on 9:50 you know what we do at this time every day. give you gold. 26 bucks an ounce, 1666.90 where

we are now. ben may print some money, up goes gold. problems with south african mines, up goes island. egypt. now that country is asking imf for money and wait until you hear, and what churning would come from american taxpayers. and sandra smith and charles payne walking into the studio. that's right after this.

>> violence in egypt is escalating. and while this is a human story it's also a financial story, why? with the new egyptian government is hoping to secure a 4.8 billion dollar loan from the imf. if approved that means the u.s. taxpayer is on the hook for 816 million dollars. and all right, everybody, welcome to the program. we have video of crucifixes of christians in egypt. we, the american government supplying money to an islamist regime in egypt and they want more. and what's going on? >> we don't even know what they would do with the money. we've seen them fail twice and now looking at possibly a life line of 18 months for egypt.

and there's no confidence there whatsoever. and you've seen it with the traders and you've seen it with investors, they've pulled out altogether and they can't get gasoline into the environment there. and i mean, it's just a menace and asking for more money. >> why don't we stand up with those in egypt. >> it's a nightmare, the worst kind of self-loathing by the west that i can imagine. >> first of all, the imf doesn't have any money and gets the majority from china and the other countries and chip in, and take over the thing, it's nuts. listen, i the islamicist brotherhood, they could show up with a shirt, kill the west and still get a chest, that's as backward thinking as a lot of europeans charging stuff and a lot of people in america, too. stuart: well said, ladies and gentlemen, now about the solyndra outrage and do you know the study cleared the obama team of any misconduct in that? new details on man who led the

investigation. and president obama was on the campaign trail rubbing elbows with nba stars, does it help his image. and jason mattera, who we go to when the president mixes with celebrities. he's young, too. he's about to join us next. hey! did you know that honey nut cheerios

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stuart: can a person who gives more than $52,000 to the obama campaign really be called biased. his name is herbert allison. he started giving that money to the president almost immediately after his study cleared the white house of any wrongdoing. nobody is calling these nba players unbiased. michael jordan, colonel anthony hosting a fundraiser for the president last night. is this really helping the president image? it is a down day thus far. it could be that the week jobless numbers this morning suggest that bernanke will print more money. here is a company. it is thursday morning. let's bring on sandra smith, charles payne, of course, and former wall streeter.

we do have lauren at the new york stock exchange. we will get to her in a few minutes. independent review of $23 billion given to green energy companies. minimizing the risk of those loans. two weeks later, began donating to the obama campaign. this was supposed to be an unbiased and independent review. what do you say, charles? charles: if they get a handful of people and they all get the same jobs over and over again, this guy was involved with tarp. he was involved with fannie mae. he even worked with mccain. they buy favoritism. independent -- there is no such thing as independents.

guess what, you put up 52 grand in the next time we need an independent review the game begins. this is not an indictment against obama, it is an indictment against the system. sandra: to be fair, he has a history of giving to both parties. it was his job to look at solyndra. multibillion dollar companies that went bankrupt. that was on his watch. for us to think that this was a nonpartisan look at those companies is ridiculous at this point. stuart: somebody who is running in independent, nonpartisan investigation should not be giving money to either side of the aisle. sandra: absolutely not good he did not do this while he was affecting the green energy is his argument. stuart: you have to look like you are independent. the public has to have faith. that is what should be apparent to everyone.

charles: president obama said he is going to get rid of this kind of stuff in washington. you just have a handful of guys who spend money and gain power by spending money. stuart: i want to give everyone a new number that appeared minutes ago. that is new home sales. on a analyst faces we are selling new homes at the rate of 372 thousand. the latest poll -- paul ryan's home state, president obama leads romney 50-44. according to survey usa, in nevada, president obama has a two-point lead over governor

romney. jason mattera is here this thursday morning. jason, for this week, i have been saying there has been a swing towards romney in the polls. the ones we just mentioned suggest otherwise. what do you make of it? >> i think romney is closing the gap. i am not worried about obama still having a little bit of a lead. i think the democrats are taking the stupid and ignorant comment from todd akin out of missouri. now they are facing all things of abortion and same-sex marriage. stuart: hold on a second. from your point of view, you think that akin, in missouri have affected the election and swung some support to obama. >> no, no one has heard of akin. he is an unknown congressman. the democrats are not trying to nationalize this issue and turned the election about abortion which means they will

abort their political chances were president obama for november 6. stuart: i have a very special guest who is about to join us from the floor of the new york stock exchange. she is a cap of the u.s. soccer team who won gold at the olympics. can you hear me? >> yes, i can. stuart: welcome to varney & company. you want your third gold medal. >> yes. stuart: i want to know, though, you can hear, i am an englishman, was the london olympics your best olympics? the one you enjoyed the most? >> i did. it was very special. stuart: you are an amazing young woman, if i may say so. i believe you have a six-year-old and a 2-year-old.

>> yes. stuart: you played soccer at a competitive top class record. that deserves applause. that is absolutely terrific. >> thank you. it has been right balance having two children as a mother. being able to show them i won a gold medal. stuart: we are absolutely and all. i have to ask a financial question. do you have any sponsors? are you making any money? >> i do. i am very fortunate to have five sponsors. i am working with the children's hospital. sos. adidas. and citibank. stuart: this is long-term sponsorship? will you get into the advertising business? >> i am trying to have that angle of being a mom and having that balance and playing at the highest level. careers and mom that balance is more of the angle and being a

great role model. stuart: you are absolutely determined that it is over? you will not go to rio? definitely not limit i would not say definitely not. i am feeling good coming off of that olympics. i will read evaluate in january. if i am feeling good and healthy, why give it up. i am thinking maybe a world cup. rio maybe in the future. stuart: we love you, darling. we hope you stay in the business. it is great to see you. good luck in the future. >> thank you. i appreciate it. stuart: jason mattera still with us, by the way. let's get back to politics. the youth vote. the youth vote on president obama. i want you to listen to a quick soundbite. >> making higher education more affordable for young people is something i have a personal stake in. it is not something i believe in

-- it is something michele has a personal stake in. we believe it because we have been in your shoes. we know what it is like. [ cheering ] stuart: all right. you are shaking your head vigorously. >> shut up, president obama. he has done nothing to lower the price. he is actually losing a lot of support with younger voters. just within the last week and a half he has only an eight-point lead on mitt romney. barack obama only has 49. stuart: young voters, that is not college students entirely. >> 18-29 year olds. if that is a snapshot of what happened in november, it would be devastating for barack obama. in.

stuart: nba stars, several of the real stars that turned out last night, was that last night, i think it was last night -- >> the obama classic. stuart: it is designed to get the youth vote. does it work, jason a teenager in the 90s who idolized michael jordan, it pains me to see air jordan hosting the $20,000 plate fundraiser for a man who is fixated on shared income which is antithetical to that determination and hard work that mj embodies. stuart: it is irrelevant frankly. does it bring in the youth vote? >> it would help minimally and

it is actually wise. you get a lot of sports media coverage. you get individual coverage usually don't cover that. i think it will help, at least with enthusiasm with younger voters. stuart: isn't that the case, enthusiasm? >> right now you can throw the hail mary's. 53% of -- my earpiece is falling out -- [laughter] 53% of college educated individuals under the age of 25 cannot find a job. will they look at carmelo anthony and say he is supporting president obama? i seriously doubt it. stuart: jason, hold on for a second. i have a couple other items. later this hour, former nfl star

from that new york jets, won a super bowl with the raiders, he wrote a book. he says african americans should not support president obama as much as they do. he will explain his position. briefly, i must go back to lauren. i have big lots hitting a low. sandra: the reason is their profit fell by 38%. their same-store sales, revenue declined. they cut their views for the full year. we have analysts weighing in on that. this is the first time they saw the client on the discretionary offerings like home, furniture and seasonal. stuart: i am trying to get used to these wild swings. thank you very much, lauren. here is another story.

this is for charles, really. nike is creating a lot of buzz with its sneaker launch. it is the latest lebron james hsu costing more than $300 a pair. you may be thinking who in the world would buy them. makers are asking nike not to sell the sneaker. what will happen? what is your position on this? charles: i think nike did the right thing. they put out a product they think people want. to release such an outrageously priced market when the nation is going through crisis is on sensitive at best. i do not get these black leaders saying that black people are too dumb not to budget themselves. they are too dumb to pick up an id card to go though.

they are too dumb that if there is a gun in their vicinity they will pick it up and kill themselves. it is outrageous. it is crazy and they will not stop. they just will not stop. al sharpton wrote anything in that new york daily news yesterday that gun manufacturers need to be responsible for the killings. no, the people killing people need to be responsible and the communities allowing it. i got beat up when i first moved to harlem. i got beat up for wearing the wrong sneakers. that is something the community needs to fix. that has nothing to do with nike. stuart: jason mattera, young man, what do you say? >> why not. i would never spend $300 on a pair of sneakers. i saw pictures and they don't even look that good anyway. if they want to put up a product, when kanye west released his shoes, they were in

line for a week. charles: in some places they just rush the security guards. >> they really are. stuart: you are a runner for heaven sake. >> running shoes get very pricey as well. the process got higher and higher. one person got them and everybody wanted them. this is a private company. it is not their obligation to protect society. stuart: jason mattera: thank you very much indeed. the dow was down 100-point just a few moments ago. now it is down 94. is there anything getting in the way of homeowners applying for or getting federal help. joe biden says, yes, there is. listen to this.

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freddie mac rate rising 3.66%. jobless claims arising in the latest week to 372,000. the market does not seem to be in love with the idea of bernanke beginning money if the economy gets weaker. bernanke possibly printing is helping gold. it is up $31 an ounce right now. oil pretty flat at the moment. still moving a little higher. we are at $97 a barrel. the price of gasoline averages --

stuart: today mitt romney will outline his plan for america's energy future. it will unveil a comprehensive energy plan. approve the keystone pipeline. more offshore drilling. these federal regulations on natural gas and coal mining. romney says if he is elected president, the u.s. will become "an energy superpower." here is an official comment that just now from varney & company. "more drilling, more fossil fuels, or of the same. mitt romney is simply out of step with the american people on energy policy. "americans say they want to increase clean energy sources in

this country and we us off fossil fuel. ." charles: they want to know when they walk out of the house in the morning and turn nike that the car works. americans are not for government wasting a whole bunch of money on these bogus products that returned nothing. let's feel the economy because we want to have an enough energy to fuel poland economy. sandra: i completely agree with that. i do think that romney will be very passive coming out with his energy policy talking about the keystone pipeline when gasoline prices are as high as they are right now. stuart: $3.71 diesel is at four dollars. vice president biden has an interesting take. listen to this.

>> more than a million refinance their mortgages saving $2000 a year. guess what, we can do it for another 12 million republicans just get out of the way. jerry just get out of the way. stuart: i don't get this. i think the vice president belongs on fantasy island again. republicans have not killed them. they are standing in the way of them. if you do not have enough income, refinancing cannot help you save your home. all pent up again. what are you going to say? charles: it is an asinine statement in and of itself. what happened? it is stupid. more stupid stuff for this guy. stuart: he is taking credit where i don't think he should be taking credit. charles: are you kidding me?

they go after things that normally you would be embarrassed about. it is like a fat guy wearing a speedo. they do not care. they do not care. sandra: i do not know how they can go out and count this as such a success. it is still a dismal situation out there. they are saying that they have helped all of these people. charles: they don't talk about people who did everything right who really worked hard, never missed a payment. stuart: all right. charles: you did everything right, your neighbor did everything wrong, and he gets the bailout. stuart: i want to talk about gold for a second. 29.70. we are at 16.70. there are two reasons for this. number one, if bernanke does print a ton more money, that could add to inflationary pressures later on so up goals

gold. you have problems maybe with supply. sandra: and in the gld the largest gold etf, a record amount of people holding. that is pushing prices up. this is a lot about the fed. stuart: next case, jerry brown's push for higher taxes in california. could it be, could californians really vote against a tax increase? we will deal with it next. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand,

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stuart: that was joe gibbs in the last hour giving a nice commercial. remember, you want this stuff, you have to tune in sharp. 9:20 a.m. eastern five days a week. it is a down day. could it be the stock market no longer goes up when bernanke

hints he will print more money. ninety-seven dollars a barrel for oil. you still pay four dollars a gallon for diesel. another one of these stocks that is really moving, big percentage move, guess. nicole: profits were down. guess actually does about 40% of its business in europe. sales declined with that week euro. they did well in asia, but that is being overshadowed. that is the reason we are seeing big damage for gas today. do your daughters where guests at all? stuart: i don't believe so. no. i cannot tell you which stores they do go to. forever 21 is a favorite. lauren, thank you very much

indeed. california, they are being asked to raise their own taxes. there are groups campaigning against this as you can imagine. >> millions of dollars sitting in special funds at state agencies just after they had in fund scandal. >> governor brown is asking voters in november to approve the tax hike. stuart: that group does not want to raise taxes in california. they say there is a chance that the measure could fail. could it be? could californians finally see the light, if i can put it that way. joining us now, mark, a front-line strategist. i always think californians have never met a tax that they did not like and did not approve of. >> as long as they have advertisement white is one better pushing out headlines

that the voters are already seeing. the bad news is that jerry brown's in the public union bossese already got $20 million to try to prop up this tax initiatives. everything that comes out about government waste, fraud and abuse, they will let them know sacramento is not taking care of it. stuart: in the past, california has approved every new odd issue and all new taxes that i can remember in the last many, many years. is this the time where they say, no, no, to a tax increase we met you have to take a look at the last eight tax initiatives.

at the week before the primary it was polling at 62%. we are at a point where we cannot afford to be taxed higher. stuart: that is a real switch. okay. i am sorry. i was not aware of those eight initiatives to raise taxes. i should have been, but i am not. are you saying that there really is a switch in opinion in california? >> yes. in fact, the latest poll that came out on property show there was about 55% of support for the measure. which, either way, is about 10% down from the last time we discussed this. 49% of those voters actually agree with the no on prop 30 opinion that sacramento has to clean up its own act to start government reforms and get rid of the waste fraud and abuse. stuart: give me an update on

california's financial situation. i know it is dire. is it improving in any shape, weight or form? >> no. it is based on fantasy and wishes and promises that you normally only find in romance novels. they are off about 20-25% with every quarter. no, it does not look good. frankly, with the things they are doing right now, with the state park scandal, the money suddenly found floating all over the place, no one has commented it will change anytime soon. stuart: mark, come again soon. thank you very much. president obama will carry in overwhelming number of the african americans vote. burgess owens wrote a book about that. he joins us. he will explain his position

next.

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mario will do it. you say? >> commodities are going up especially because we don't have any more of them. demand has taken over our technology. we have a shortage here because of the job. the reason why we will have this global printing of money is because of this. now, we are not allowed to talk, and sent, stuart. renting money because we don't have an answer. we do not see any true growth. stuart: people say if bernanke prince, the stock market will go up. that has not happened. >> i think it took 24 hours to get there those fed minutes.

yesterday it looked like he had the bazookas ready to roll. you know what, it looks as though we may start to see these fed guys start to see the picture here that this printing of money does not always work and actually the stimulus can be a depressant. stuart: very interesting. we are out of time. come and see us soon again. we like that cow jacket. >> thank you. stuart: our next guest says voters should think again before voting for president obama this time around. or just owens, former nfl player. he has written a book. it is called "it is all about team." burgess owens joins us right now. welcome to the program. you say those people who voted, african americans, who voted for

president obama should not do so today. why? >> it comes down to respect. we have to recognize and focus on principle versus blackness. if we do that we will get that greatness. of course, get that back again. stuart: what about policy, do you agree or disagree with president obama's policy? >> i am a conservative did i think if we do things right and work hard, we can get reward out of that. i am not about handing the money over to someone else who does not do the work.

stuart: we cover this actively on the show, all of us do, all the time. the consideration here is president obama will get, still, more than 90% of the african american vote this election. >> it will be a transition. it is a matter of time i understand. i do not expect it will be changed over this particular election. as people recognize what happened, we will begin to change minds. charles: your transformation came through personal experience. the vast majority of people, will they be able to get it through books and soundbites? in other words, unless they have that experience -- as a business owner, i have a lot of opinions about what is right to do socially and intellectually.

>> he is giving america a chance to see what true liberalism looks like. there are people out there that are very big obama fans that are wondering why am i in this situation. now that we have understanding of what true liberalism looks like, how it feels, how it looks like, we will start to see the changes. stuart: forgive me for being want, but when you say these things to a black audience, are you considered -- >> that is the black talent that we talk about. there is a strategy that liberals have. that is that they get their protection from lack pundits and it pretty much say whatever it a want to.

the very top elitists are paid very well for what they do. they will support every policy whether it is for the black community or not. whether it be minimum wage, abortion, vouchers for black kids trying to get a better education, you go through the list they stand strong for ideology and wealth. stuart: we really appreciate you being with us today. thank you very much, sir. will the jets have a winning season this year? >> i am rooting for both. [laughter] stuart: burgess, thank you so much. saving the middle class. a new report exposes a major myth about why the middle class is supposedly getting smaller.

it is actually a good thing. it may force the president to change his message.

♪ stuart: a significant loss for the stock market in the early going of this thursday morning. the dow opened lower and it has been falling throughout the

morning. down 100 at one point, but it is back just a little. jobless lamps rising to 372,000. boeing dragging the dow down just a little bit lower. a loss of 8.5 the gonzales and future income for boeing. hewlett-packard dragging it down as well. 6% lower. gold is up. it is up big. if bernanke prince money here, the europeans get into the action. it is up $32. look at them gold resources. political stability there would be good. it is up in price. liz mac tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform.

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stuart: i have two tech losers for you. i will start with dell. that is a big loser. lauren, what do we got? lauren: it is down about 21% right now. dell reported earlier this week pretty bad numbers. we are seeing the same with hewlett-packard today. it is the worst performer on that dow jones industrial average. out with bad numbers particularly in the pc business. down 10% there. analysts are not liking it. stuart: it is all your fault, lauren, because you are the one that said the pc market is getting killed, not damage,

killed. lauren: it is getting her severely because of tablets and smart phones. stuart: lauren, thank you. according to a new study, the middle class is shrinking. it is not just because they are getting poorer. it is because some of them are getting richer. elizabeth macdonald is here. i want some numbers here. >> you would not get what you just said from the headlines on the story. what is so bad about the national conversation and the reporting on this is it is incomplete. it leaves out what that research shows and what irs data shows and does not show. research which was done based on surveys, in 1971, 61% felt identified as middle-class. by 201151%. where do those people go if they

don't feel like middle class anymore? were people reported they are in the upper income. six percentage points more. versus four percentage points in the lower. stuart: they self identify. 51% say i am a middle-class american. >> that is right. stuart: 6% have moved out of identifying them as middle. >> what they are not also reporting is that the research is showing incomes have grown across boards for the the upper bracket, for the middle bracket for the lower income classes. those numbers there, 43% for the top, middle and 29% for the bottom.

let me back up, there is no lifetime membership in the wealthy club, nor, the poor club. if you look at that irs data, 58% of the lower income moved up where 51% of the lower percent dropped down. the poor get food stamps. housing subsidies. medicaid and medicare. what is missing, too, in the middle class story is a get healthcare benefits. that skews the income data also. stuart: there is a lot of misrepresentation of america's middle class. >> that is right. stuart: what it's got and where it's going. thank you. wait for it. my take on prince harry is next. with my friends, we'll do almost anything.

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stuart: i will keep this short. this is a story of gross stupidity, flat out disgrace.

here is my take on prince harry. photographs of the brother of england future king has been flashed across the world. he is in a las vegas hotel room, he is with two young women, he is naked, he is 27 years old. he is not a kid anymore. he has been in the public eye all of his life. surely he knows cameras are everywhere these days. was he blind drunk? is he a simple full? now look at what he has done. he has undone all the goodwill he built up as the host of the london olympics. he embarrassed the monarchy. he has disgraced himself. this may pass for acceptable behavior and some circles. it is a lack of judgment. it is appalling.

i believe, however, someone sitting around the set has a different opinion and that is sandra smith. sandra: maybe he is putting himself out as the fund royal. however, he was celebrating las vegas. he was in the privacy of his own hotel room and somebody unfortunately snapped a photo. are you saying it is wrong to begin with that he was there? i think you are. stuart: obviously not so private. sandra: okay. you got me there. stuart: he has been in the public eye all of his life. sandra: he was so endearing during the olympics. stuart: you think he looks endearing in the photographs? [laughter] i would love to continue this, but my good mood has evaporated. the highlight reel is next. ♪

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stuart: here is the highlight reel. roll it. >> -- refinance their mortgages saving 3,000 bucks a year. but guess what? we could do it for another -- [inaudible] finish the republicans would get out of the way. stuart: he belongs on fantasy island again. charles: they go after things that normally you would be embarrassed about. they don't care. they do not care. stuart: i still have 30 seconds left before we turn it over to dagen. i have demand for equal time on prince harry again from sandra smith. you have got another 30 seconds to be utter hi wrong. go -- to be utterly wrong. go. sandra: a viewer just sent in whatever happened to what happens in vegas stays in vegas. i think that sums it up quite well. stuart: somebody was paid $16,000 for the the photographs of prince harry in a vegas hotel room.