in the economy ok so that is that this debt this rising debt is a component the downturn helps you boost the economy when it's going up right draws it down when it starts to fall and if you have people who got into so much that they conned services then their inability to service they didn't is also they can. spend as well you want to do believe we're doing process right and so when you look at something like private debt to g.d.p. which we have a chart of and i'm sure the bring it up right there that's a scary one that is scary because you are looking at that gigantic is that a giant deal leveraging period nearly oh yeah well looking if you're just taking the right which we do leverage now we we picked a three hundred percent of g.d.p. you know that's sixty percent plus in the great depression and the great depression was to boost it by deflation we haven't experienced on that skiles so the great depression of fifteen years to pay the debt down from the pit reached down to the low levels off of the end of the second world war if we continue doing it the right we're doing now i

. >>> five years after we started the downturn and we're not seeing any live at the end of the tunnel >>> michael was in the battleground state in of virginia. romney has been using the number to attacked the president. >>> it has not been below 8% >>> they have been tried to sell as this trickle-down tax cut ferry to us before, it did not work then. it did not work now. >>> 439, let's get ready for weather. >>> we have some cooling temperatures for the weekend. of course very hot in the valley parade today we will notice some changes. more fog and clouds outside. it a little bit thicker it early on, and by the temperatureaftero pressures will come up just a little. temperatures running in the low 90s. it is still hot inland spurred some spots you will see '60s and '70s around the bay. we will have your weekend forecast coming up in a moment. now let's check on the roads would your up >>> here is a live look of conditions at the golden gate bridge. of course we are keeping a close eye on the golden gate bridge. police are searching for a man that comp one of the towers. about 880 we a

the housing trust fund will help to solve projects that have been negatively impacted by the downturn in the economy. additional with have been proposed as part of the package of measures, but outside the charter amendment itself, extending the program -- additional developments have been proposed. we intend to pursue again separately and outside of the charter an extension -- a limited extension for high-rise development of the current fee deferral program. within the charter, it is specified that project sponsors who have been entitled but had yet to initiate construction or receive their first construction document may return to this body to request that the reduction in on-site obligation be applied to their project, so they could, if they had chosen to provide their inclusion very requirement on site, they may come back to the planning commission and request a reduction of 20%. or they may come back and modify their selection to meeting their obligation on site. again, projects that have already received their building permit will not be eligible for this request for modification

obviously, the downturn at the low point is 2008, when the recession hit at full force, reducing budget and encounters at that time. two years later we experienced growth in volume and fee revenues. what we are seeing now is, in fact, a slight increase in volume with a more substantial increase in revenue based on the size of projects coming forward. many of them also, most recently, fill the positions on a temporary basis to work on temporary projects, like the america's cup. with the economic uncertainty and our growing dependence on grants, we felt it was important to make sure that we opted on a permanent basis to have the temporary staff we have hired as well. we are expecting a volume increase of 3% in the next fiscal year, with some leveling off. we do not expect that volume increased to go up indefinitely. i think that that is fairly consistent with what is being suggested. i will say that the building permit review represents more than 80% of department volume and in 2008, 2009, when we experienced that downturn, there was a volume drop of 18% which represented the most signifi

since the economic downturn, there have been many cuts to hiv funding and the services to support the health and wellness of the lgbt community. it is vital that there be outside funding that comes in from organizations and the fact that an organization is stepping up to fill that gap through private means, that is important to us. we see in many -- many of our community members suffering from illnesses such as hiv, cancer- related illnesses, and many other health problems that come along with being in a class of individuals that has been marginalized for so many years. we think is important to our community we have sustainable income that comes through outside means and this would provide quite a bit of support for the services that have been cut due to funding cuts through the government. we see so many people who are being affected not just through health problems but also socially and economically because of the economic downturn, and we really support the support of community members of businesses and -- that stepup. we urge you to support this measure. thank you. >> i am the exe

improvement giant says there's growth in places like california and florida, which were hard hit in the downturn. the company raised its outlook for the rest of the year. >>> auto dealers say this could be a record year. detroit-based researchers say automakers are profitable and stable again. and the average number of vehicles sold could hit an all-time high. good news there. >>> love new car smell. >> a good thing. >> and this other smell. the unmistakable smell that draws customers to cinnabon, for those calorie-laden sweet treats. but are you ready for pizza-bon? >> i'm ready. cinnabon is rolling out the same dough. the company hasn't said how many are in the pizza-bon. but they said -- >> 800 calories? >> looks tasty. >>> an auto shop in oklahoma is battling the summer heat in a unique way. some of the guys are wearing kilts these days. >> the lads claim the kilts are a lot cooler than working in shorts. you have to be careful on the leather seats. one called the kilts the manliest nwr you can wear. is it manly? >> they're pulling it off. >> you have to learn how to sit in a kilt, though. i

the downturn is threatening the profits of the nation's small and midsized firms. officials at the national bureau of statistics say industrial production last month rose by the 9.2% from a year earlier. the pace of increase is the lowest since may 2009. that's when the chinese economy suffered in the aftermath of the collapse of u.s. investment bank lehman brothers. economists say the lower figures are due to china's weak exports and domestic demand as the debt crisis in europe continues. the officials also announced last month's retail sales in china. the data showed only a 13.1% rise compared to a year ago. it indicates weaker personal consumption. economists are concerned over a possible decline in corporate earnings. people are now expecting more economic stimulus measures such as further monetary easing. >>> a global food agency says a drought in the united states has raised food prices worldwide. it's warning of tighter grain supplies if the unusual weather continues. the united nations food and agricultural organization says its food price index rose 6% in

coolant is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in about three years and significantly below the forecast poland's g.d.p. kept expanding over the past few years while much of the e.u. showed negative growth but a series of gumi anomic indicators show that the so-called economic miracle is coming to an end. now on to the russian equity markets in the second hour of trade they are regaining some of the ground lost on thursday once stocks fell to the lowest level in about a week crude to lower crude hurt the russian equities on thursday dropping to a two week low worries that the hurricane isaac subsided but now we're seeing a different picture crude is actually demonstrating modest gains hopefully that will keep on benefiting the martial markets onto the currencies now the dollar the sour is regaining to gaining value to the european currency the ruble is rebounding to the currency basket and the privatization of russia's state acids could soon go on line the state has agreed the terms of selling its propertie

be looking for one of the european union's few growth stories poulan is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent that's the lowest in three years and is significantly below forecast poland's g.d.p. kept expanding over the past few years while much of the e.u. showed negative growth but a series of gloomy economic indicators now show that the so-called economic miracle is coming to an end. and back to the equity markets let's see what's going on in of russia at noon and what we're seeing there is that it's actually recovering some ground lost on thursday when stocks fell to the lowest in about a week the move. bryza among the blue chips include off to bob's chairs let's see the movers there. bill including after a vase. they'll start the sound bling and new version over the famous and popular we know logan and next year why should carry an aeroflot is down its passenger traffic grows by about a word in the first seven months of the year and that's apparently not enough for investors and nobles bunches shot up twenty percent on re

platinum is a key raw material for the motor industry, which is seen as more vulnerable because of the downturn in the eurozone. share prices have fallen more than 40% over the past six months, with much of that happening before the recent strike and violence at the mine. the company was formerly run by the colorful entrepreneur, tiny rowland, who also owns the "observer" newspaper. revenues have been dented because of the strike. >> the primary concern right now is because of the impact of the strike, london is unable to produce metal and the revenue has effectively dried up until they strike has reserved -- until the strike has resumed. >> there are wider concerns that the south african currency weakened because of fears of unrest will spread in a key sector of the economy. >> from the mining world to the tech world, two big players are making headlines. a new world record -- apple is the most comeback -- most voluble company in the world ever. it is a windfall that facebook could only dream of right now. today, the social media site stock hit its lowest level since its initial public offerin

for some clarity one of european union's a few growth stories poland is feeling the squeeze of the downturn the country's second quarter gross eased to two point four percent the lowest in about three years and significantly below the forecast poland's g.d.p. kept expanding over the past few years while much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. and day here in the last poll demarc kids are remaining in the positive territory read gaining some ground they lost on thursday when stocks fell to the lowest in more than a week the r.t.s. is up more than half a percent of the sour the movers among the blue chips include off to was shares of pretty upbeat it will start assembling the new version of the popular reno logan next year flagship air carrier air flight to is down its passenger traffic grows by a quarter in the first seven months and. a year vodka judging by the way the stock is trading dot's not really a pressing investors and no most bank is regaining is gaining around sixteen percent a

a more stories now one of european union's few growth stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth at a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. all right let's move over to the russian markets and it's kind of out of sync from its global peers with the my six actually declining point three percent the past couple of weeks we have seen a lot of steady growth and now it seems there's a much anticipated correction. and it's coming in with the my six driven down by luke oil shares after the company announced that it has been spending massive amounts of money on buying back its own shares could potentially continue doing so by the end of the year but it seems investors are now taking their profits in that company well among other stories after of as shares are very much of beat one other half percent n

for some clarity one of european union's a few growth stories poland this feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest is three years and significantly below the forecast poland's g.d.p. kept expanding over the past few years while much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. and here in russia the equity markets are also on the rise regaining some of the ground the last song. they want stocks fell to the lowest said about a week the r.t.s. is now gaining around half a percent the movers among the blue chips include off to vaas shares they are actually quite i'll be off to oz will start assembling the new version of its popular real logan next year swag ship air carrier aeroflot is down with its passenger traffic rose a by about a quarter in the first seven months of the year which apparently is not enough to impress investors and ennobles bank is gaining almost sixteen percent on reports about a financial firm a three tier i

now one of european union's a few grove stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. or let's go further down to the rushed. in the markets now where it's still looking kind of undecided today with my six going down point six percent but the odds years is a bit higher on a stronger ruble and russian markets are not having a good week indeed it seems that the previous weeks of growth have all of this going to mean much needed correction that's exactly what's happening and one of the biggest losers and drags lukoil after it said that it's been buying up around two and a half billion dollars worth of shares but apparently it's still doing that now among other stories after bad shares are. assembling a new read over logan model like ship carrier air float

clarifications one of european union's few growth stories poland that is feeling the squeeze of the downturn the country's second growth eased to two point four percent the lowest in about three years and significantly below the forecast poland's g.d.p. kept expanding over the past two years while much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an ad. now checking out the. russian acqua the markets so far so good pretty i'll be the r.t.s. is gaining more than three quarters of a percent some of the main movers on the my sex include car maker off to basel its shares are pretty albi to fact gaining around one and three quarters of for sound as of plans to issue a new version of its popular reno logan our next year flagship carrier air flight is down its passenger traffic rose by a border in the first seven months of the year partly not enough harvesters and bank is gaining actually pretty hefty like sixty percent on the rumors that financial corp is eyeing it as a potential acquisition target now crude is

five years after we started the downturn and we're not seeing any light at the end of the tunnel. >> michael gorman lives in the battleground state of virginia and is exactly the type of voter that both president obama and mitt romney are targeting. romney has been using the unemployment numbers to attack the president. >> he said he would hold unemployment below 8%. it's not been below 8% for 40 straight months. that's the longest period in american history. >> the president says romney's plan to create jobs by cutting taxes for wealthy americans won't work. >> they have tried to sell us this trickle down tax cut fairy dust before. it didn't work then. it will not work now. >> but so far, the president has not been able to convince gorman he can turn around the economy. he says he'll vote for romney. romney is promising a 4% jobless rate if he wins the white house. the president will talk about the jobless numbers at just before noon eastern time today. terrell? >> susan mcginnis in washington for us this morning. have a good weekend. thank you so much. >>> romney is firing back at

supremacist have basically prepared for in this like their worst nightmare come true the other thing is the downturn in the economy when you have people that are unemployed people tend to look for causes for why they don't have a job and sometimes they may blame foreign countries for that sometimes they may be blame politicians and so some of these types of people will seek out government groups as a result. with this most recent incident over an hour i suspect michael wade michael page in wisconsin do you think that this could be the tipping point or at what point will people realize that hey this is a legitimate concern this is a legitimate threat well the one thing i want to point out between the aurora incident in colorado and the one that happened at the sikh temple in wisconsin is the shooters had two different motivations behind their attacks and i'd like to kind of address that for a second. at the sikh temple we had an individual that was a member of a white supremacist movement and had an ideology that basically fit a fear of muslims and i do believe you know in my professional opinion tha

larger banks in the small business segment because he says eagle has continueed to lend through the downturn. >> we have deep roots. >> some of their business also comes from retail customers, traditional home equity loans, and car loans. those are the areas affected by dodd-frank financial reform, and the corn suerm financial protection bureau that came out of it. it's just a small part of their business, but eagle says compliance has been an expense. they've had to double the size of their compliance and accounting department. >> i'm not going to editorialize. but other than adding people to work for you, it's not helping jock creation. >> >> eagle has come out of the financial ciegz unskailgted. banks in florida, michigan, illinois and arizona have been hard hit, and are still strupgling to recover. the >> the pendulum has swung, and there's pressure to raise more capital and comply with the rules that it makes it difficult to go about daily business. >> no estimate on how much the new rules are affecting small banks. but banking experts say it's having an impact on their bottom lines. re

so what that will do, it will help offset the downturn in u.s. defense spending, at least for the industrial base, to preserve some capacity in our industrial base and preserve some capabilities that we have. >> reporter: defense analyst todd harrison says it's not just about business. selling u.s. defense equipment to other countries helps firm up relationships with allies, but the strategy comes with some risks. >> one of the risks we always take in exporting is that once that equipment is handed over to another country we don't have control of it, we don't have control of what they do with it or who they show it to. >> reporter: but, the countries buying now might not be able to completely offset u.s. defense cuts. when it comes to military spending, the u.s. spends more than the next ten biggest military spenders combined. sylvia hall, "n.b.r.," washington. >> tom: in the money file tonight: three ways to save money when choosing a financial advisor. here's manisha thakor, co-author of "on my own two feet: a modern girl's guide to personal fin

turn to poland one of the european union's a few growth stories it's now feeling the squeeze of the downturn in the country's second quarter growth fees to two point four percent that's the lowest in three years and significantly below the forecast so there's g.d.p. kept expanding over the last few years while much of the e.u. showed negative growth in a series of gloomy economic indicators show that the so-called economic miracle is based. we coming to. now let's move to the closing picture on the russian markets and it's a mixed picture we've got the r.t.s. up slightly the my six as you can see is falling hard four percent how the markets have been kind of out of sync today with the rest of the world it seems that it's a long awaited correction it's coming in at least on the my six that is which has been pushed down also by lukoil shares which are down more than two percent of the close as the company unveiled it has been buying up more than two and a half billion dollars worth of its shares from the market. now on the commodities market everything also looking pretty rosy with light sweet