he was now officer joe.is dream was a squad car of his own, but he did not mind being assigned special work. it led him behind the scenes to learn the purpose of the real police work. as he took part in tests, joe began to feel that he was a part, even though a small one, on the campaign to cut down on the loss of life by drunk drivers. he began to see the importance of prevention whenever possible. prevention of accidents and prevention of crime. but joe found there are times when it is too late for prevention, when a crime has already been committed. then it is the police department's job to put together the pieces of the puzzle that make up the crime and using all of the modern scientific police methods, trace and prove the guilt of the person or persons responsible. sometimes, joe was sent out for duty at school crossings. experienced officers of the police department's youth bureau go to the schools, teach traffic laws and laws of courtesy to our youth to help them become useful citizens of tomorrow by

uncle joe. well, the thing about uncle joe is, everyone loves uncle joe.prone, but you know his heart is in the right place. the bidens and particularly vice president biden wears his emotions wears his faith, wears everything on his sleeve. there's no artifice there. what you see is what you get. and that's why you see the outpouring of grief for this family. for that man. but also for beau. if you spent any time with the biden children with the biden boys, they are a reflection of him. him. that's why when a tragedy like this happens to him, the son of the vice president, it hits everybody, whether democrat, republican, reporters who cover the vice president, regular, everyday people. this is something that i think has hit a lot of people in a very personal way that i think surprises them. >> it's also something -- the news of the decline of his health was something that was a closely guarded secret. we're told the vice president told the president when that diagnosis -- that grim diagnosis came in the last few months what was going to happen to his son.

alix: good circle, joe. [laughter] joe: you see the trend is really high. it has been bouncing around a little bit. you have to like these elevated levels. alix: it wasn't just you -- fischer said the u.s. consumer is making a comeback. he cited specifically the consumer. joe: when you see these numbers, you have to feel pretty good. alix: there is so much to discuss with our guest. high stakes in greece as it marches to a referendum. mark andreessen weighs in on the chinese stock market bubble. i am excited about that. we are joined by sri kumar and michael block. hi, guys. so good to see you. have not seen you in a while. joe: greece, does it matter to you? is this the kind of thing that investors should pay close attention to? >> for the noise it creates. i don't think it matters in terms of contagion. if there is an accident, if you will, it will involve the ecb flooding the market with liquidity to the tune of one trillion euros. that is very euro-bearish. nobody wants an accident, but if there is one, that's what i'm focused on. we will keep doing wit

joe: i'm joe weisenthal. alix: today was a very rough day for the markets.he s&p finished down two points. greece is stumbling toward a potential default. how much worse is it going to get? jeremy siegel is not worried. bysees the dow at 20,000 2016. thank you for joining us on our launch show. are the markets pricing in a greek exit at this point? jeremy siegel: greece does not keep me up at night. i heard your previous interview with hans saying this will increase the yes vote. this is devastating for the greek people, closing the banks, restricting the market. my sense is now they would vote yes rather than accept these rules of the european union, rather than have a free for all for the markets and economy. result outt a good of this crisis we see increased today. joe: jeremy, does it pay for investors to care about greece? should these geopolitical issues -- should people just ignore them? jeremy siegel: it's not going to affect the long run for the united states. even for europe. it's 1.6% of the e.u. economy. it's not going to be essential for a long

joe: i'm joe weisenthal. [closing bell] alix: u.s. stocks falling the most since april. european shares have their worst day this year. downward moves are due to concern greece will exit the euro. joe: the question is, "what'd you miss?" alix: what a day to be starting something new on bloomberg television. there's a global stock selloff on the same date we have a new daily program that asks "what'd you miss?" joe: we want to show you what we thought was most interesting. alix: we begin with this rough day in stocks. triple digits selloffs in the dow across the board, indices off 2%. this is the first 1% plus move we have seen in stocks in nine weeks. that was the longest stretch in 22 years. take a look at the s&p. it is closing barely above the 200-day moving average which is 2053. i bring that up because traders like to trade around those levels. a close below could incentivize more selling. this is all in respect of the correction countdown clock we have been watching. it has been 1364 days since our last direction. -- correction. joe: last week we were talking about

told you joe. >> joe: breaking ball misses. >> tom: here we are, 3-1. with teixeira on swinging the way he is if he wasn't doing what he's doing, you may intentionally walk him right here. i think they come after him more than they normally would. >> joe: here is the 3-1. that will load them up. the fourth time he's been on >> that proves your point. they show him that much respect with a 96 miles an hour fastball is going breaking ball, breaking ball ball. the left-handed hitting teixeira rather than right on right with alex. >> joe: tomorrow our coverage of the 2015 fifa women's cup continue continues. norway takes on thailand followed by germany battling the ivory coast. monday don't miss team usa's first game, as they battle australia, plus games all weekend long on foxsports1 and fox sports 2 j all streaming live on fox sports go. mike makes his way to the dugout after a visit. fox sports supports, proud to team up with ayso, the world's largest soccer club, go to ayso.org/play to find your region and sign up for your fall team today. bases loaded,

in that regard to joe: -- in that regard. joe: big rally. it has people talking about when is that 10% correction coming? when is it coming? lisa: -- michael: i don't think it is coming anytime soon. the 5.5argue that months of what we call august of this year, the sleepy pace, has technically served the same function that a 10% dip provided by a rebound does. it is almost a time-based consolidation, not to get too easy on you. there is a lot of catch up. -- too geeky on you. there is a lot of metrics out there. alix: jonathan was talking about one of the things that would need a recession. one is a correction. the other is higher wages. that is the trigger. lisa: watch the inflation numbers this week. that is going to be really important. i think this is what people are wondering about. this could possibly be a worse -case a narrow if inflation does tick up and the fed has to catch up to the market alix: the other awesome's -- to the market. alix: the other awesome story of the day is taylor swift, taking the lead role in the greek eu bailo

joe:. it feels like it is getting real alix: the realer it gets, it seems investors care a little bit less. small caps hit a record. we have a risk on day. we had some chatter from the big guys who seem to take it in stride. jamie dimon caught my eye. he said earlier that shareholders note, we must be prepared for potential exit. we stress tests are company for possible repercussions resulting from such an event. reek exitssiblea g would create -- structural reforms. no panic there. joe: with us to discuss all of aulse things, we have p christopher, a wells fargo chief international strategist and tracy alloway. thanks for coming on. so, what do you make of greece? >> i'm tired of greece. they only a vacation. i think it is a combination of complacency and simply the anticipation that the europeans had this one covered. i don't think that is really accurate. mr. dimon said it better, we all the stress tests our portfolios. we need to think about how this could impact. we think the internati

joe 2.0. but as much as folks reminded joe of joe, he was very much his own man. he was an original. he was a sign of an incredible family who brushed away the possibility of privilege for the harder better reward of earning his own way. he was a soldier who dodged glory and exuded true humility. a prosecutor who defended the defenseless. the rare politician who collected more fan votes, and the rare public figure who prioritized his private life above all others. beau didn't cut corners. he turned down an appointment to be delaware's attorney general so he could win it fair and square. when the field was clear for him to run for the senate he chose to finish his job as a.g. instead. he didn't do these things to gain favor with a cynical public. it's just who he was. in his 20s he and his friend were stopping for speeding outside scranton and the officer recognized the name on the license and because he was a fan of joe's work with law enforcement, he wanted to let beau off with a warning, but beau made him write that ticket. beau didn't trade on his name. after 9

he even looked and sounded like joe though joe would be the first to acknowledge that he was not joe 2.0. as much as he reminded folks of joe, he was very much his own man. he was an original. it was a sign of an incredible family who brushed away the possibility of privilege for the harder and better reward of earning his own way. he was a soldier who dodged glory and exhibited true humility. a prosecutor who defended the defenseless. a politician who collected more fans than foes. the public figure who prioritized his private life above all else. he did not cut corners. he turned down an appointment to be delaware's attorney general so he could win it fair and square. when the field was clear for him to run for the senate he chose to finish his job. he did not do these things they gain favor with a cynical public , it is just who he was. in his 20's he and a friend were stopped for speeding outside of scranton. the officer recognized the name on the license and because he was a fan of joe's work with law enforcement he wanted to let him off with a warning but beau made him write th

joe? joe: all right, thank you, chilly amide. let's bring in carl riccadonna and also adam parker, chief equity strategist at morgan stanley. day tomorrow, officially the best day of the month. alix: the best day. joe: what is going to happen? what are we going to get? the consensus is to 25 right now. i think we could see something a little closer to 240. what is going to be bigger news is the unemployment rate. given the strength and the jobless claims, think there's a very good chance that it could in down another 2%. that is a consensus view right now. case for janet yellen that we are moving to a normalized economy. basically from five to five and a quarter that is their year end target. handleuld easily have a in the third quarter of this year. i do not think that there is a huge gap in that view of the world from janet versus christine lagarde. nonetheless for them to be that specific and their advice to the fed was taking it a step over the line. alix: you are optimistic, pessimistic? adam: i think it doesn't matter. i th

joe? joe: i'm going to say barbara jordan. i am biased because she is a texan, and i lived there for a while. home state bias. alix: guys? reallyi would you be boring and say eleanor roosevelt. played a big role in the depression, crucial role in the formation of the united nations, even a background rolled that she is my nomination. there is an amazing documentary on her. it was awesome. check it out. paul? to go withgoing clara barton, blast from the past, someone who was instrumental in improving wartime sanitary conditions, save the lives of thousands of soldiers, but my number two would be my mom. alix: aww. joe: if we could personalize bills. alix: i was trying to find out what was the $10 bill and the room or was because of counterfeiting, but there is 1.9 billion dollars of notes in circulation. not that much. us.ks for joining paul, you're sticking with me. there will be much more on the fit it ipo after the break. ♪ to theelcome back bloomberg market day. i am alix steel. itsnasdaq edging above march peak really boos

joe jackson: i know it. that french plane that disappeared all the way from result in france. -- disappeared on the way from brazil frieto france. it was theorized that it was the same thing. talking about la guardia, makes me think, i still think planes are considered glamorous. when i flew in yesterday, on the tarmac was a private jet and it stood alone in a circle of light and painted on the fuselages was trump. it was donald trump's giant jet. and i remember i wondered about that because when i was a reporter in norfolk i had gotten on the trump princess. remember, his yacht? that was like an exercise in excess. i wondered if his plane was the same. >> he bought the trump princess for a song. because the guy that owned it named it after his daughter. i was on it once for a party. it was one hell of a boat. jackson: somebody wants to ask a question. ok. yes, ma'am. >> did you get a chance to talk to charles lindbergh's grandson eric? who did -- 10 years or so ago he did a flight over the atlantic in a sin

joe, you are my brother. i'm grateful every day that you've got such a big heart and a big soul and those broad shoulders. i couldn't admire you more. i got to know joe's mom, katharine eugenena finnegan biden before she passed away. she was on stage with us when we were first elected. and i know she told joe once that out of everything bad that happens to you, something good will come if you look hard enough. i suppose she was channelling that same irish poet with whom i began today, patrick cavanaugh, when he wrote, and i said let grief be a fallen leaf at the dawning of the day. as hard as it is right now through all of the heartache and all of the tears, it is our obligation our obligation to beau to think not about what was and what might have been but, instead, to think about what is because of him. think about the day that dawns for children who are safer because of beau whose lives are fuller because of him. think about the day that dawns for parents who rest easier and families who are freer because

this could happen -- joe: it's fun. alix: it is fun. joe: i was not being facetious. alix: in theory, this could be the busiest trading day of the year because of the russell rebalancing. to change their holdings. pretty exciting day. joe: speaking of which, historic supreme court decisions, terrorist attack today, and greece still with us. alix: there are protests of the far left party right now in athens and that is ahead of the meeting with eurozone leaders. again, down to the wire. of course it's going to come with concessions from greece, and greece rejected that. you could see the stocks in the s&p take a dive around 1:30 when greek officials that, look, this will lead to more austerity, no dice, people. joe: the quote of the day absolutely belong to the german finance minister who said, the greek government is democratically elected, but so is mine. suppresses saying, you cannot make us do this. that's a fine point. but greece is also asking its creditors for more money. he is saying, i am here because i am elected as well. what is the greek vote went over the

just like joe.ust not that big a talker. >> yes. >> i saw your eyes. >> we see those old pictures though, of him at the kennedy assassination, but his career is the span of american history over half a century. and don't forget about ten years ago, he stepped in to a tough situation at cbs news when dan rather left. kind of saved the news division for a year or so there. >> al, bob schieffer taught news executives or should have a lesson. many of them are just pure bred 100% idiots who say we're going to get younger viewers by putting on younger people to read the news with orange hair and zuit suits. i don't even know what the kids are wearing now. but anyway, you get my bigger point. they think whatever the fashion is now we'll put it out there we'll make news dumber we're going to make the news hole smaller. and that's going to get the demo in. bob schieffer was like 72 he did better than katie on cbs evening news. nobody ever thought he would. and then for a very long time, he took face the"face

joe biden said. he said looking back on it the truth be told the reason i went home every night was that i needed my children more than they needed me. and he was saying this about pundit who is suggested his absence from washington would wreck his political career. he went on to say i realized i didn't miss a thing. i never lacked having ambition but ambition without perspective can be a killer. they're such profound words that come from joe biden. i want to go to sunlen serfaty. we're looking here at what's happening inside the church. she's got a perspective outside the church. sun sunlen we had heard at one point the lines to get in from five blocks long. what are you seeing there at this hour? >> that's right, christi. today is no exception to those long lines we saw at the public viewing here yesterday. today at this fufrl, people started lining up at 4:30 a.m. and the line really stretched around the block. you can see behind me some people still making their way inside the church. which as yo

joining me now is joe weisenthal. part of the story was those transports like airline stocks weighing on stocks that got a downgrade. as goes the transports, so goes the dow. joe: the biggest story was the most important companies of the world, the apple worldwide developer conference. it was kind of boring. they down to something really big that captures peoples imaginations, watch or whatever. this time, there's some software stuff and a music streaming thing, which was kind of a big deal but the stock was down and ended flat. it is transitioning from a hardware to a software company and how exciting can software be when you are presenting it? i was looking at deutsche bank, the story of the whole weekend -- the stock was higher on reports of a ceo shuffle, but goldman sachs had a note out this morning that was pretty skeptical, saying this positive ,eaction could be short-lived saying he struggles with this rather are structural than management related. there's a real lack of return on equity on platforms. they don

joining me now is joe weisenthal. what struck me was that crazy move on the 10 year yield. 2.12%.iday we were global bond selloff is the big story of the week. we saw yields spike right after the jobs report. that was great. we're 280,000 jobs created. the unemployment rate ticked up a little bit but that was mainly the labor force participation rate rising. we saw wage growth increase month over month. all in all awesome. alix: what about the scorecard? we talked about who was going to bet right. we nailed it. joe: that is the fun thing about the jobs report is that everyone wants to guess. the winner on the street was deutsche bank who had 275,000. he was the closest of the major banks. and then i wanted to highlight the twitter guesses. alix: what was your guess? joe: i got it wrong on all accounts. i think i guessed 240,000 and i guessed that the unemployment rate was going to decline. i completely blew it. alix: you are done. timeout. joe: i will never do it again. belmont, we is the will talk about the econ or t

joe, you are my brother. i am grateful every day that you've got such a big heart and a big soul in those broad shoulders. i couldn't admire you more. i got to know joe's mom, katherine eugenia finnegan biden before she passed away. she was on stage with us when we were first elected. and i know she told joe once that out of everything bad that happens to you, something good will come if you look hard enough. and i suppose she was channeling that same irish poet with who i began today, patrick cavanagh when he wrote "and i said let grief be a fallen leaf at the dawning of the day." as hard as its is right now, through all the heartache and all the tears, it is our obligation, our obligation to beau, to think not about what was, and what might have been but instead, to think about what is because of him. think about the day that dawns for children who are safer because of beau. whose lives are fuller because of him. think about the day that dawns for parents who rest easier and families who are freer because o

joe: that number has a history of being messy. this is a month before the paris air show, so some sales get depressed. you can put too much stock on one number. alix: i was looking at airline stocks, finishing relatively flat but had a pop earlier in the session. we talk a lot about the transportation sector -- dow jones transportation not holding up as well, but it has been continuing to climb and airlines are part of that. joe: everything people said was going wrong in the market seems to be going fine again. that is the big take away. alix: globally, we have to break down the manufacturing data. joe: i love flash pmi day. we get lots of manufacturing data from around the world. we get regions and an interesting story -- the u.s. and europe still strong. china's number was still contraction. it was a bit better than expected, so that is your nice snapshot of the world's manufacturing region. alix: joining us to break it down as cliff and chad -- you are looking little tan. we like that vacation. we were talking about the pmi and

joe: i want to turn to stocks.e keep having the debate about whether we are in a bubble and stocks are overvalued. here is a quotation from bob doll. scott, what do you make of that? are we entering a phase that is not as good for that? scott: stocks were undervalued for a long time and docs have moved a long way in the past five or six years. -- and stocks have moved along the past five or six years. i would argue that the book of the market has stayed here. we need earnings growth. 2017,ear probably through we will see 6% to 10% total referring -- total returns this year, and our biases at the top of that range. i think the bull market need to advance as earnings move forward. i think we will see that. stocks right now are pretty close to fair value, and then are the reason we all out. -- and that is part of the reason we stalled out. scott, thank you. he will be staying with us. lisa abramowicz, thank you. ♪ alix: welcome back to the bloomberg market day. i'm alex steele. but get you caught up on the stories mak

joe: that means they have to pay more. the last chart came from a different survey which measures things like job openings and quits. the number of job openings in this country is at a 14 year high. this is april, it lags a little bit but put these things together and you have companies saying they are having trouble finding workers and companies saying they are increasing their plans to pay more and you have the number of openings surge. i can't see how wages are not on the rise. unless you are a banker and then there are some issues. alix: we want to bring in our panel, the chief strategist at rhino trading partners and lisa abramowicz. what was your take on what joe was saying? what kinds of jobs and wages are we seeing? michael: joe is actually on to something here. alix: exclusive. michael: that survey was important. it really did show us something in terms of compensation plans. the thing to point out is that number was very strong. what i noticed was the strength month over month was in services related sectors, hea

lisa: the bond market actually agrees with joe. you have spawned levels rising to the highest levels since september, the 10 year highest since october and you saw a real soft this in the credit market. people are getting nervous and people are saying this could be the real thing. this could be the time the fed looks at this data and yes, your point does get enough comfort that they can start their hiking process which will be problematic, particularly for credit and emerging markets which have been hammered recently. these are some of the dynamics for the market. it was bad for the bond market. michael: it seems like even a few weeks ago they were saying it's going to be a while before the rate hike. how do youseptember, see the fed hiking rates -- when do you see the fed hiking rates? michael: my answer is not this year. i'm still a skeptic on wages. one issue with wages, and i think this is a global did wages, how much really come down during the recession? did they really come down a lot? they didn't go down, they didn't go up,

joe: we can ignore this one? carl: we do not ignore it, what we look at it through a different lens. thanks it tell us about the medium-term trichet three. what is worth watching is the jobs created. is it all low-quality service sector jobs or is it manufacturing and the construction sector? alix: it is about transportation, utilities, and service. carl: let's see the status of the rusty rust belt. alix: let's talk about china. vanguard is adding chinese shares to its emerging-market fund. this comes a few days before we i,e going to hear from msc hearing about whether they will allow china into their index. when you look at china, what do you think? michael: the speculative fever there has been pretty amazing. china has been one of those markets. the equity market has often gone left when you expect it to go right. ande are some interesting constructive things happening in china. bubblishcept of retail shorting bubbles is everything. do you hear much interest in chinese stocks from your u.s. clients? michael: f

joe: i would enjoy holding that one. ti had a note out talking about where you would see contagion, specifically talking about interest rate and turkey being one of the scariest spots because it has large risk premiums in its assets. that is where you will see the as much.urt and lisa us is michael abramowicz. michael, are you bored with greece? michael: a little bit. it is obviously always a relevant discussion topic. this is the second sequel to the 2010 movie. the markets are certainly getting a bit bored by it. you were just talking about the italian bund spread and you see the same thing in spain. in the old days of 2010 and 2011, you see those rates government or by greece bond yields than german bond yields, and that has shifted. and you really are not shifting -- seen many signs -- you are really not seeing many signs or heavy influence of the greek drama outside of greece. alix: what did you think about the note by citi, that turkish interest rates will be where you see it happening? lisa: i think they are scrut

>> that's joe, injun joe.s been out there. >> reporter: if we find joe, he'll be able to lead us to jerry? >> i certainly hope so because joe, to my knowledge, knows everybody in that neighborhood. >> reporter: it sounded like a crazy story and larry well knew it. >> if i was a guy out there watching "dateline," i wouldn't believe this. i would be the first person to say, oh, this guy is full of baloney. it's like watching a tv show. >> reporter: it is like watching a tv show. and you're telling us to go search for the one-armed man. >> yes. that's a good analogy, yes. >> reporter: and so we went to try to check out larry's story. was he telling the truth this time? or was it a lie just like the ones he told his family? we combed the area around his old photo studio, an industrial area near the freeway full of warehouses and alleys in search of an injun joe who might lead us to jerry. we found this old rv. and inside? >> joe. indian joe. >> reporter: coming up -- larry hoagland's wild story seems to be checkin

and that's the same way with joe biden.sful political figure. it's like tragedy sprinkled with success. like the kennedys. it's a very difficult life to put a bottom line on and say was this a good life or a bad life. it was all of it. it was all of life and death. all those years. it was all there. of course, very irish, too. the irish get death. they do. and it's very important part of life if you're irish catholic to understand the role of death in your life and what's to come. it's a very big part of the way you look at things. >> and chris, we're also getting word that former president bill clinton his wife hillary clinton, they're also going to be there today. they'll be attending. that relationship between the bidens and the clintons joe biden and the clintons have been awkward the last few years with joe biden, he was always wanted to be president. he's been blocked out by hillary clinton. what's that relationship like? >> well, first of all, they're friends. i think that's real. i don't think it's complicated like

joe weisenthal is here. from all the traders i'm speaking to in the market, this shows just how -- the underpinnings of this qe based, global economy are. the fact that christine lagarde is saying something like this. 70% in u.s.down treasuries since 2007. the fact that she is coming out, waving a flag like this, this is concerning. erik: don't stop the morphine drip. put anie: do she want to big band-aid on this because she cannot face a disaster on her watch? lisa: the imf has come out a lot of papers about what will happen if people start pulling their .oney out of emerging markets she did raise concerns about emerging markets. if the federal government of the united states has a financial style -- a financial stability mandate that will change their analysis of the situation -- stephanie: carl riccadonna is here. erik: i want to remind everyone what christine lagarde, managing director of the imf said moments capturedhat is really our tent. best has captured our attention. lagarde: significant market vol

just weeks later, joe biden was sworn into the senate at beau's bedside. as an adult, beau biden played a role in his father's political campaigns, introducing him onstage at the 2012 democratic national convention in charlotte, north carolina. >> in moments both public and private, he is the father i've always known, the grandfather my children love and adore, and the vice president our nation needs.

joe: of course, we can't not talk about greece.oday there were not as many dramatic headlines as the rig yesterday, but i saw one this morning where the public was saying and nothing was happening in greece, but something is happening in greece. the economy is continuing to deteriorate. this ongoing uncertainty is continuing, and this shows how much the government continues to oh. it is falling behind. greece is falling into an economic hole. it mitts all of this uncertainty and declining economic activity, the unpaid bills are piling up -- admidst all of this uncertainty and declining economic activity, the unpaid bills are piling up. with us to discuss all of these things, we have john and our own carl it all of -- we have john and carl. alix: did you guys e-mail me about my dress, saying, nice job? joe: i would say this trade bill defeat is about politics. carl: about two weeks ago, americans believe this trade bill is negative for american workers. if this can't be sold to rust held state them across in michigan and other place

joe: we

he even looked and sounded like joe though joe would be the first to acknowledge that he was not joe 2.0. as much as he reminded folks of joe, he was very much his own man. he was an original. it was a sign of an incredible family who brushed away the possibility of privilege for the harder and better reward of earning his own way. he was a soldier who dodged glory and exhibited true humility. a prosecutor who defended the defenseless. a politician who collected more fans than foes. the public figure who prioritized his private life above all else. he did not cut corners. he turned down an appointment to be delaware's attorney general so he could win it fair and square. when the field was clear for him to run for the senate he chose to finish his job. he did not do these things they gain favor with a cynical public , it is just who he was. in his 20's he and a friend were stopped for speeding outside of scranton. the officer recognized the name on the license and because he was a fan of joe's work with law enforcement he wanted to let him off with a warning but beau made him write th

>> not good joe. actually that's only half of what's important. what really matters then is what the iranians do to live up to the terms in the final document. and in that sense what the supreme leader says really matters. so he may have been posturing, but i wouldn't bet the farm on that. >> what developments have happened over the past month that cause you the greatest concern. >> i was actually stunned about ten days ago, the secretary made his first public appearance after his injury and he talked about the possible military dimensions of the program. the previous activities actually weaponize a nuclear device. number one, he said you know that's not really as important as some people are suggesting it is. number two they don't really have to come clean before an agreement -- >> did the administration themselves suggest this was important? >> this is a walk-back from a previous position. >> how many walk-backs have they had? >> well i don't know that sanctions are going to snap back. i don't know

to break it down with us, joe weisenthal. finally, an update. joe: finally. allbig story today, we were set to say -- ignore it, same old same old, but we got some exciting headlines about greece today. finally, some excitement. germany is perhaps willing to consider some sort of staggered aid to deal where maybe greece commits to light one reform, which i found to be hilarious -- just do something that set -- so that we can credibly give you money and not have it be a total loss of face. markets were already higher going into that. the funny part to me is that it came out right away. joe: i think this is one of those where there is smoke there is fire sort of them. but the interesting thing is that a picture, we have been going for months talking about what's happening with greece and what gets lost is how devastating this uncertainty has been to the economy. a couple of charts i want to the first one shows greek private sector deposits, basically how much they have in the banking system. ever since things became clear last year that they would have an elect

joe: what the you think, dan?an: i think it shows implicitly the markets realized they have to -- there is too much to lose. the other thing to keep in mind is the distance separating them is not that large. it seems a significant factor but we are talking numbers that are certainly bridge oable. joe: you think a deal will get done? dan: we do. alix: i was at a hedge fund event yesterday. i was asking people if they cared about race. greece. honestly, not really. greecet have any bets on but if something happens and markets do not move or they go higher, that is a bullish sign for asset classes. that is one way to interpret what is going on within the market. people basically saying even if you default, so much has changed since 2012. the risk has been so isolated to the european members that have lent the money that it is not going to cause a catastrophic contagion. is that what the market is saying or are they just pulling themselves and that is a question? in 2011 during the debt ceiling fight, there was a lot

and we can all feel the pain of joe biden and joe biden's family.t will have some effect on our political system. maybe in some small way it will soften the acrimony maybe in some small way it will dampen the controversy and make us see how much we do have in common how much we do share and perhaps this could help the two contending sides find common ground. sometimes out of tragedy, some very good things can develop. >> larry, we mentioned the fact that of course the president is going to be among those who will deliver a eulogy. we've talked about the closeness between the vice president and the president. practice is it that is so unique in their particular relationship? and how did it come to be? >> in politics president obama tends to be more rational cool in his interpretation of events. vice president biden is much more emotional. sympathetic and empathetic with people. it's a nice combination. i think they both have recognized what the other brings. to their own strengths. so over the years, while it got off to a rocky start a bit. back in t

joining me now is joe weisenthal. and joe, we do have one potential headline just as we went into the close. the dow jones is reporting that a valiant will make a preliminary approach -- up by 11%. joe: another pharmaceutical play. i'm shocked to hear it. alix: also, we see a lot of the acquirers see their shares rally. joe: it is bullish what feels like the kind of thing that happens when people are starting to lose their heads. alix: that is not the only m&a we had. and that is perhaps in talks to acquire humana. one potential tie up. second-biggest insurer in the country. possible deal for humana. a deal could come as soon as this week compared perfect timing with the obamacare news today. massive day for health care. alix: the one sector that held up the best with health care. on the supreme court ruling on the afford health care act. up.theless, holding it was the hospital stocks that were kicking some butt here. of their% to 5% earnings were riding on this case. so, this is a really big cloud clearing for them.

he even looked and sounded like joe though joe would be the first to acknowledge that he was not joe 2.0. as much as he reminded folks of joe, he was very much his own man. he was an original. it was a sign of an incredible family who brushed away the possibility of privilege for the harder and better reward of earning his own way. he was a soldier who dodged glory and exhibited true humility. a prosecutor who defended the defenseless. a politician who collected more fans than foes. the public figure who prioritized his private life above all else. he did not cut corners. he turned down an appointment to be delaware's attorney general so he could win it fair and square. when the field was clear for him to run for the senate he chose to finish his job. he did not do these things they gain favor with a cynical public , it is just who he was. in his 20's he and a friend were stopped for speeding outside of scranton. the officer recognized the name on the license and because he was a fan of joe's work with law enforcement he wanted to let him off with a warning but beau made him write th

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we'll get "morning joe" gear just like this. hey, by the way -- >> she's trying to start the show. >> i was just trying to get the news going. but that's okay. >> it's hard for me willie to think back to somebody that has been as bold in his announcement that he's run for president of the united states. i guess reagan in 1980 with the statd statue of liberty behind him, jon huntsman a 30-mile-per-hour current swept the entire family into new york harbor. that was sort of encouraging. but lincoln chafe, yesterday, i gasped. sgchlt gall dang it, that guy went there. >> stuck his flag in the sand. one of his opening lines as he announced his campaign i said this -- here is a bold embrace of internationalism. let's join the rest of the world and go metric. sweet jesus. a bold endorsement of the metric system on the first day of the campaign. >> sweet jesus. >> where were you when you heard the metric speech? >> where do we find such men. >> we'll hear an official announcement from jeb bush. >> i hope he's wearing green for littlejoh

hi, i'm joe penna and welcome to earth 2050. most people don't really realiz

joe: producing the u.s. economy going? usl police comes in tell that tells us about what happened. >> i think we are in a steady grind mode. one factor that i like to consider is that there is so much interest rate sensitivity embedded in the economy, that any acceleration that you get -- resmotherher acceleration. i think we have numbers on the .0 year treasury think it will be a multitier framework. >> it is a different jobs report coming up on friday, because it june was really in play, which it is not, it is out of the picture at this point. met,hreshold have to be usually we are watching the unemployment rate and payroll gain, now it is about three or four more reports that could be .ritical we do not ignore it, but we look at it through a different lens. we look at labor force percent -- participation or income growth, things that tells about the trajectory. and also worth watching, the diffusion of jobs created, are these service sector jobs or manufacturing sector jobs. alix: it was really about transportation and