meaning the south american economies are less dependent on the united states. the same cannot be said for the economies of countries in the caribbean, which are highly dependent on tourism from the united states in europe. their growth is slow. in central america of the growth is faster. once again, central america is struggling because of its strong link to write about -- relatively sluggish u.s. economy. >> do you still have time for an afternoon nap? in spain it has long been a part of daily life, now at risk in an increasingly healthy -- hectic world. >> in the middle of a madrid shopping mall, something strange is going on. it is the first ever contest to find the best siesta sleeper. every hopeful gets one of these to measure their heart rate. despite the game, the aim is to map for as close to 20 minutes, if you can. judge eduardo has two clear favorites in this round. elegant no. 5 in a landmark dressing down. no. 4 went out last night to give himself an advantage. to some this is madness, but some others argue it is a healthy choice. >> siesta is good f

but the american economy, it's healing. parts of it look very strong and impressive now if you look at high tech, you look at manufacturing, look at agriculture. you look at industrial production. they came out of the crisis much more quickly, really quite strong. even private investment growth that slowed a bit, even private investment growth, investment by businesses and capital invest system expanding at a healthy clip. the reason why it's slower, charlie, than we'd like is fundamentally goes back to the causes of the crisis. you know, we you had a crisis caused by the fact that as an economy we were living way beyond our means. people were borrowing more than they could afford. they were spending more than they earned and you had these huge growth in leverage in the financial sector and when you have a recession, a crisis caused by that, it takes more time to dig out of it. and the things that are causing growth to feel slower now, to seem slower, weaker now, are fundamental to the process of healing. we see weakness in

to play the wall street used to invest in the american economy in companies that used its money to produce goods and services but then wall street became the american economy our financial system was a reengineered through what's been called financialization with banks credit cards real estate and insurance companies as the new power players. capitalism a sort of go off the rails it's ceased to be kapil it's financial i say should the fact that it's now all about speculation the fact that it's about ponzi schemes and the facts about selling and buying paper from an economy of real goods real commodities and real services to a system where people were buying and selling money buying and selling assets buying and selling other firms were no new value was created most sensor b. says the whole system has gone predatory i think we had a transition from what probably was afraid of market system. to something that is out of control and probably defined as a predatory system frequently in markets that are manipulated for the. maybe a. few investors investors it's even even that's very difficult to

care bills, it will be multi trillion and this is unsustainable and they will break the back of american economy if it does not stop. >>stuart: thank you for being with us today. we appreciate. that will do it here. i will see you monday among on the fox business network at 9:20 and our special guest is talking about the foreclosure freeze and this is huge. we are on it. we are on fox business network which if you don't get demandeio it. . mom: max. ...maxwell! piggy: yeah? mom: you're home. piggy: oh,cool, thanks mrs. a. anncr: geico. 15 minutes could save you 15% or more.

position but he is allowing readers to draw the inference that or would be a good thing for the american economy he's never said so but the way he frames his policy prescriptions in the areas places that he writes in both the new york times and his blog the conclusion is inescapable that he says that he is effectively saying although not actually or explicitly said that a war would be a good thing for the american economy and i personally find this despicable and i have said sir i go to pieces about him one right took apart his labor day weekend op ed piece in the new york times where i showed how he manipulates data and information in a very slippery and very clever way that to the uninitiated or the knowledgeable you know it's hard to swallow and he uses data about debt levels during world war two in the depression that are obviously untrue and i write about them specifically in specific debt levels both federal state and local levels which you can find my blog but the point is the reason i'm saying this is i'm not trying to sell anything as anybody knows i don't advertise on my blog. i'm not

he is effectively saying actually or explicitly said that a war would be a good thing for the american economy and i personally find this despicable and i've said so i go to pieces about him one right took apart the labor day weekend op ed piece in the new york times where i showed how he manipulates data and information in a very slippery and very clever way that to the uninitiated with knowledgeable you know it's hard to swallow and he uses data about debt levels during world war two in the depression that are obviously i'm true and i write about them specifically in specific debt levels both the federal state and local levels which you can find my blog but the point is the reason i'm saying this is i'm not trying to sell anything as anybody knows i don't advertise on my blog. i'm not trying to convince anything i'm simply pointing out you know when the emperor has new no clothes well i can't use saying through infer and so you can. glean from his writing that he is making a conclusion through the back door of some ill constructed argument that war with some out be of benefit to the us econo

administration henry paulson and bernanke and tim geithner were a trio, and i would argue saved the american economy, perhaps inadvertent, but trying everything they had available. we just got a report on tarp, that it will lose a lot less money by hundreds of billions than anyone expected. it might even end up turning a profit. he is kind of middle of the road and i don't see why you would get rid of him. the real issue is is obama committed to keynseian economics or not -- keynesian economics or not? i think he is and he will not change policy. >> john kennedy was fond of saying there are three things that are real, god, folly, and laughter. this is an administration conspicuously free of joy and laughter. it is not self deprecating of anybody in it, in a position of leadership. in a town that wants desperately for barack obama and his administration to succeed. >> i would agree, but it starts at the top, with obama. >> i don't think obama wa without humor. >> have you seen him be self- deprecating? >> yes, i have, but wry does not work as a political tool. >> the problem is lack of success. if he

henry paulson, bernanke, and tim bender were a trio that, i would say, said the american economy -- perhaps inadvertent, but trying everything available. we just got a report on tarp that is going to lose a lot less monday by hundreds of billions than anyone expected and might even end up turning a profit. he is a guy who was kind of middle of the road and i don't see a reason he would jettison him to i think the real issue is, it is obama committed the keynesian economics are not? i think he is and will not have any change in policy. >> john kennedy said there were three things that were real, god, folly, and laughter. the first two or beyond our comprehension. this is an administration conspicuously free of joy and laughter. there is nothing self- deprecating about anybody in it in a position of leadership. i think that is something that is missing, in a town wants desperately for barack obama and his administration to succeed. >> i agree. it starts at the top, it is his description of obama. >> i don't think, is without -- i don't think obama is without tumor. -- without humor. wry does

in january and republicans are determined to oppose any effort to raise taxes on any american in this difficult economy. uncertainty is the enemy of our prosperity. the american people should not have to wait one more day for congress to act to prevent one of the largest tax increases in american history from taking effect. speaker nancy pelosi should call congress back into session immediately and allow an up-or- down vote on preserving all current tax rates. the prosperity of the american people is more important than the political fortunes of any politician or any political party. this administration suggests that our choice is between the failed economic policies of the present and the failed economic policies of the past, but there is a better way. last month, i joined my house colleagues at a hardware store in virginia to unveil our pledge to america, a specific set of proposals that could be enacted today to start getting federal spending under control and get this economy moving again. the pledge to america calls on congress to immediately cut spending back to pre- 'stimulus,' pre-bailout level

everyone is looking for a solution to kickstart the american economy. they are not looking at the long-term picture. they are pointing their fingers at china to say that their currency is evaluated. this is 40% lower than it should be so the chinese it should do something. i don't expect the u.s. to take any initiatives. there will be a lot of talk there were probably not be any tangible results. >> thank you for that update. the imf says the global growth will slow next year after expanding at a rate of 4.8% this year. they are forecasting 2% growth worldwide next year. they expect a margin economies to grow three times as fast as industrialized nations. they have raised their forecasts for germany to 3.3% this year and 2% next year. stock prices continued to advance on european exchanges on better than expected german factory orders in the hopes that further economic stimulus package is in richer countries. -- packages in richer countries. we're joined from the frankfurt stock exchange. >> normally this would weigh on currency and shares when a rating

the 500 largest american economies now get 46% of their profits from abroad, and the biggest ones actually get up to 60/80% of their produfits from abroad. but average american worker cannot surf this world. he's stuck in america. so what is the answer to his or her plight? well, it's a huge subject and i can't give you a quick fix now, but i'm spending a lot of time thinking about this and writing about this. my first cover essay in "time" magazine is about just this question. it's out on the newsstands right now and next week we will have a "gps" special that will air next saturday night at 9:00 p.m. eastern and pacific in addition to our regular times on sunday. so read ti"time" magazine, watc the special. it's called "restoring the american dream." >>> we have a terrific show for you today. first up, if you read the headlines this week, there are reports that the taliban is finally being beaten back and its commanders now want to talk. the quagmire in afghanistan seems as if it's turning around. is it true? i'll put this question to the president's man in the region, richard holbrooke.

economy. it is not only a bad situation and an individual tragedy for each of those americans, now out of the as a whole because these people are no longer earning money which means they're no longer going to be spending money which means we are all dragged down as a nation. but that personal and collective economic disaster does have a silver lining. as the jobs numbers get pushed into even worse territory than they're already in, that might be great news for republicans in the elections. the last major jobs report before the election came out today. some private sector job gains, but otherwise not good for the unemployed, not good for the employed but still struggling in a lousy economy, not good for the economy, itself, not good for the country. if only we had some sort of noncontroversial effective efficient bipartisan endorsed jobs program. of course that wouldn't be good for the republicans. they'd probably block it. and asked frequent heartburn sufferers, like carl, to put prilosec otc's 24 hour heartburn protection to the test for two weeks. the results? i can concentrate on everything

i mean, i think goideon alluded to the question of getting the american economy to work, and i think big challenge, and really figuring out how you put america to work, figuring out how america plugs into this globalized high tech economy. 10% of americans don't right now and i think -- >> 50% of americans don't pay taxes. so you know. >> part of it is not just about taxes. part of the reason there is so much interest in china is not just about chai that bashing and china the boogeyman, there is a sense that the chinese government, authoritarian communist regime is able to do big infrom structure projects. can we do that in america? >> if we succeed' not because we become like china. it's because we're title of an old book preempted by a japan experience "they'll be more like us." if america is going to move forward it's not going to come from washington. it will come from the private sector and populous at large. how do you get a government to manage its finances and policies responsibly enough to allow the animal spirits inside the american public to come forward. >> on that hopefu

traders are betting the american authorities will have to take measures to give the the economy a boost, which could involve flooding the market with dollars. over the weekend in washington by men -- imf did little to relieve the pressure and now there is concern worldwide the country's army laminating -- countries are manipulating their currencies for an unfair advantage. >> the fact that the markets are anticipating a fed flooding the market with dollars is obviously pushing the currency down. i think the question we really need to have answered is just how much liquidity is the fed going to pump into the market. i think until we have some idea of that particular figure, the dollar will continue to slide. admittedly, the pace of appreciation seems to have tailed off, which is a positive. but it does not appear to be an immediate turnaround inside. >> if you like technology gadgets, listen to this on because later on in new york microsoft is expected to unveil a range of handsets that uses the windows 7 operating system. it marks their first full care -- full-scale response to the touc

that's what joseph stiglitz, the nobel prize-winning economist, believes will fix the american economy and prevent it from sliding back into recession. when i talked with stiglitz earlier today, he explained his case for more stimulus. >> the reason you need government to provide the stimulus is the private sector can't do it. the private sector on its own is not going to increase demand, consumption, investment, exports, none of the other sources are there to increase demand that will create the jobs. there is no alternative. >> susie: but congress has no interest to approve another stimulus plan what happens to the economy without it? >> unless we have another stimulus we will continue to have unemployment at 9, 9 and a half percent, maybe it will go down to 8.5%, but that's not acceptable. and if that happens, we are going to be losing the skills of our people, people who are unemployed for a long periods of time, lose valuable skills. when they finally get a job it will be at lower wages and the difficulty of getting the unemployment rate down becomes greater and greater. >> susie:

in th '90s, it was great because the american economy was doing fantastically well. you didn't need much to happen in washington for it to continue. 's hard to argue the u.s. economy is doingantastly well, now. so gridlock i don't thinkis going to be a great thing. >> and of course that is why you're seeing this move into gold. a fear trade in so regard, or perhaps the dollar mement also moving money io gold. would u recommend getting into mef these commodits that havelready been such big movers? >> they've moved so much, maria. i think a divsifi ptfolio is a reay good g. having a small portion of your portfoliin gold makes nse. adding new mey to it n is a tough o. you know, in our ew, the stng move in gold,ort of gold going up, the dollar going down, even oil has moved up a lot, we see that as related to the belief that e federal reserve is going to do ather rounof assetpuhases. in asense, make an even easier monetary policy. and in tha eironment, commodities tend to do welwhen the feds generating as easy a policy as humanely possible. >> you know, it's interesting,

improved infrastructure for san francisco and more jobs in an american opportunity -- an american economy that could use the opportunity. chairperson maxwell: john arnott? come on up. and then ron young. >> thank you very much. supervisors, thank you for the hard work you have done, and the mayor's office for making this a possibility. i work with a sailing magazine and am a lifelong sailor. this is a kind of "pinch me" moment in the bay area, a dream come true. i think all of us who live here in the city now it is magnificent. i moved here 30 years ago thinking of would be here a couple of years. sailing on the bay is one of the reasons i am here so much longer. the city is beautiful. it is the line between the two that causes a lot of problems. the ballpark restoration has been incredible, the job done by the city to make it a beautiful waterfront. i think this is a great possibility. talking around the country about the possibility of it coming here -- the city is a well- known, beautiful place to sail. but people have doubts as to whether the city can get this job done. i think in thi