barron how weirded out is rice about all of this? >> i'm sure she is freaking out. she would be more freaked out if it was kim jong-il. dictators are weird guys. imagine what you would actually find in kim jong-il's palace. >> he would have a scrap book made of real people. >> or an asian dude going, how you doing? turn me. >> you know what is weird though, greg, she is a really strong, independent woman. what is he going to do with her? make her one of his 50 wives? what's his plan there? >> what if he does president like women. -- doesn't like women? i am throwing you a bone. >> how much do you want to bet that when they went on the one dinner they had or whatever it was she was the one wearing pants? he had a lovely blouse on and she was wearing a pant suit. >> it is a great idea for a movie that she would go over there and talk him out of the compound and then she goes away and he gets killed. that would be a good movie. >> he would die for love. >> this isn't a lifetime movie. >> bill, you could play a young qaddafi who has been frustrated in love his whole lif

the associate editor of barron, and we are 50 points off the low.it looked the last hour as if a forced selling, people throwing in the towel. that is a good sign short-term, you want people to abandon hope before you get a bounce but it has been hard for the average investor to find something to hang his hat on in terms of why you would want to own this market. you have european banking crisis reductions in estimates of economic growth but we have gone a long way today, into pricing in a relatively high probability of a global recession. if we don't it will seem to be overdone but in the last hour things fed on themselves. >>shepard: is it possible now, you look at the numbers, and maybe you are switching around on sirius or xm and you say, my goodness, is it possible we are reaching a point of a buying opportunity and there could be something good? >>guest: there is a possibility of that especially when you see measures of panic and fear in the mark based on what people are willing to pay for protection and rush for sift, yes, there is a chance. w

where you do not need quite as much funding as ever, but some of the people who today are seen as barron's -- barons started off with a pretty defined journalistic crusade in their mind, and most of the time in their own minds, it was progressive. i think that the dollars are more available than ever for people with an agenda, but the ability to spot the quality voices is a little bit harder now that they are so numerous. >> there will always be a market for investigative journalism. i do not know that it is the type of financial journalism that was referred to before, but i think that there will always be people willing to also spend the time to listen to that type of reporting or even to read it online. there is no doubt that investigative journalism will continue to flourish. simply as a longer format journalism. yes, i think that that makes a lot of sense in terms of what the audience wants, and it is probably what is also defined as for aggressive journalism. i think we should probably define our terms. what does that really mean? how is bloomberg doing progress of journalism? we may

. >> suzanne: barron's says next week could be another wild one but at least traders and investors can maybe catch up on rest this weekend and sleep more calmly tonight than yesterday. >> tom: suzanne, whatever happened to the august markets? clearly not here. big volume, big moves, no doubt about it. it continued today although a little bit calmer. let's get you updated with tonight's market focus. while stocks ended the day mixed, the market threatened to make another nasty plunge this morning. we begin with today's chart of the dow jones industrial average shows the volatility today. we saw an initial pop thanks to the jobs numbers, then the dow sank-- down almost 250 points just before noon eastern over worries about europe. then trading finally stabilized as the index eked out a small gain. the sell-off we have seen this week has hit the economically sensitive sectors this morning. the energy sector is down about 10% since last friday's close. material and financial stocks have each lost more than 9% as well. speaking of financial stocks, check out bank of america. the stock was w

where you do not need quite as much funding as ever, but some of the people who today are seen as barron's- barons started off with a pretty defined journalistic crusade in their mind, and most of the time in their own minds, it was progressive. i think that the dollars are more available than ever for people with an agenda, but the ability to spot the quality voices is a little bit harder now that they are so numerous.

precious metals but artie's alice ever has about one team whose treasure lies not in gold robber barrons. this week the russia close up team is coming to us all week from the far east and more region now for many this region's distinctive jews who its proximity to china and its smallest reserves of war materials and natural resources but the one paleontologist and his team it's the bones of ancient dinosaurs discovered deep within the ground here that will put this region firmly on the map. u.t.v. last ski is a man obsessed with the populist a bygone age when dinosaurs rule this part of russia he may have been born in the countries that western areas but it's the far east untapped jurassic history in the region to which he has devoted his adult life to mr necker very near this site to be known since about nine hundred forty eight that would have been unbelievable number of bones are buried here and i think will be digging for at least another two years or so they're literally everywhere here the ammo region is looking up one of the few functioning archaeological sites only here can a sit

to twenty percent so again traders in europe at least so far are back convinced the short selling barron's necessary to change anything. similar to how the markets are doing right now in the u.s. they are positive got solved through a strong recovery on day two and data sharing consumer confidence has fallen sharply to fifty four point nine points its lowest level in thirty years there for limited. european markets fell immediately after the opening bell so we're climbing by the end of the session to reach three percent in positive territory at the close after all the same amount gaining on thursday latest french economic growth figures are a cause for concern as they showed years and the second biggest economy was stagnant in the second quarter and the footsie and the dax up three and a half percent that's almost six thousand points. look at the closing figures for rush also a very positive note after a week of extreme volatility b.l.t.'s is up three point two percent of my six point two percent is a snapshot of the market moves on the my sex apart from unlike other energy stocks lukoil w

now tonight we'll speak to atticus barron of the young turks about crackdowns on social media from bart shutting off cell phone service to the u.k. sentencing to young men to four years for creating facebook pages inciting riots then president obama says that he's going to roll out another jobs plan germany and france are meeting to discuss the euro zone's debt crisis but is all this talk and no real action and is two thousand and eleven starting to look a lot like two thousand and eight would also speak to attend it colonel tony shaffer about the increasing cries about defense cuts will be decided by the congressional super committee well they don't want you to know as that its benefits and pay will probably be on the chopping block instead of expensive weapons programs we're going to have all of that and more for you to night including a dose of happy hour but first let's take a look at what the mainstream media has decided to miss. all right so we have what fifteen months left before the next presidential election that's quite a bit of time and while yes the race does seem to be heat

the rich in the country and corporate barrons and record historic hice are not producing the jobs for the american people. >> dana, are you buying this >> no. i am just letting him sing. okay, i am not saying he's totally wrong on some things. but any economist would say we need to spend more. that is not accurate. many say this is one of the problems. two things that i know in this debate. the president needs to go on a vacation . he is tired. he is tiring all of us. his language is flat. he has to read the teleprompter. we use them here but we are not the president of the united states. it is if i can finish. he's not encouraging people to be confident and he said today that you can hear it in my voice the frustration. that is not reaganisk. they are trying to paint the picture. take the hit on the pr hit of going on vacation and give him time off and let him come back with new ideas but certainly with a better attitude. >> take off a couple of years. >> you brought up the point, he was talking about frustration. i am so frustrated. you deserve better. >> that's like mother saying i

joining us now is the associate editor at barrons' magazine owned by our parent company.el, let's lock forward to next week. this has been, i think on record, the wildest week wall street has seen, right? >>guest: in terms of the up and down, absolutely. >> will it settle down over the weekend? >>guest: there is a chance we can settle down. europe is the key here. not just because of the measures banning short selling which is usually a desperate stopgap measure that the government will undertake but it is because we want to see if the european industrial banks tries to get in front of the problem with italian and spanish debt. there is a sense they are behind the curve and not taking the market concerned seriously and, in fact, the short telling ban is not particularly effective, it could buy europe time because they don't have all the pieces in place to actually go out and buy up a hot of the bad debts from other governments. >> we have known countries like greece, portugal and italy are in trouble, but france? >>guest: this is why the game is getting dangerous. it has

corporate executives, sometimes shareholders, titans of industry, private equity bare ron barrons. there are people who do well in helping corporations get their way despite the cost to humans. there's a reason candidates like mitt romney should stay away from making that argument. he's running for president in pointing that out from the campaign trail as evidence of the immediate response from the john huntsman campaign. the immediate response to mitt romney's corporations are people moment in iowa, the spokesman responded almost instantly today, quote, was american pad and paper company a person/friend. the reference there is a company called american pad and paper called m-pad. when mitt romney was an executive at bain capital, they acquired m-pad for $5 million. after shutting down a handful of plants and laying off hundreds of employees, mitt romney and bain capital turned that investment to a $100 million profit for them. they did the same thing with a company called scm. the mass firing became a campaign issue which led to devastating campaign ads against mr. romney hen he l

and the associate editor of barron's over the weekend, and on the last paragraph online they said the silver lining could be thattens coulds are flush with cash and last time they weren't. maybe that could be a buffer. >> usually when you enter a recession it is after an expansion when businesses have gone crazy trying to grow and they cut labor and capacity. this has been a virtual jobless recovery and we have not recovered the jobs lost in 2008 and 2009 so maybe on that score we could have a more shallow recession. it would be hard not to have a shallower one but why know we are at that point. the markets before this week were rushing to move toward a higher probability but not a certainty but there is a sense there is no plan (b). there are plan (b)'s but nothing obvious with european government strapped and the federal reserve is not saying they are willing to step in so right now we have this on our own feeling. >>shepard: we watched this board on the screen all the time but that is only 30 industrial stocks and the s&p 500, those stocks, obviously, at one point, 440 were in the

>>shepard: and now the associate editor for barron's owned by our parent company.ot have revenue or taxes on the table, the cuts have to be greater. >>guest: especially with everything off limits in the first round. you cannot get the map to work if you are not talking about social security retirement age, means testing medicare that have been out there as solutions that are right there on paper but people do not want to engage them. >>shepard: they are tough to engage in because you would be telling constituents the following thing you have you are not going to have anymore. >>guest: and it is a problem. you can start with people not on the verge of retirement, and i fine it interesting for years and years, the polls suggested that people under 40 don't expect social security to be there when they are ready for it. that is the opportunity because you are saying, we overpromised to this generation and now we have to take some of that back. >>shepard: could you make the case when the laws went interest effect the rules of entitlements and the welfare state, we did n

just ask billionaire barrons charles and david koch.y of how the brothers bank rolled a campaign to resegregate a southern school system. that's right in america. in a moment robert greenwald will join me, but first a little background. wake county school district in north carolina is one of the nation's largest, and it's one of the first school districts to implement an income-based integration system. no more than 40% of a school's students could be getting sub subsidizes lunches. they say the policy was a success. quote, smoft most diverse schools are in the poorest sections. and then along came the koch-backed astroturf group americans for prosperity. they got involved in the local school board elections, funding and organizing candidates who wanted to end the district's busing policy. the koch-supported candidates ran in support of what they called neighborhood schools and against what they called forced busing. coded language that was also used in the segregated south. >> the school board crossed the line with forced busing. >> fo

in pakistan and they form very effective relationship, another relationship in the book is about barron, a cia agent and to run for lack of a better word. tell me a bit about how those to work together and what fear if anything began to develop. >> guest: those are interesting men from different backgrounds. he was a jordanian intelligence officer who is quite western by standards of his colleagues at the intelligence agency. he studied in the united states and have an internship with john kerry. >> host: big baseball fan. >> guest: he left to talk about -- you see the red sox games and take longer trips to the mountains down to the south to the blue ridge mountains about to montreal and with an american accent became someone that the cia came to rely on because he could not only translate them on the need to but someone who understood both worlds it was a bridge between them and he became the sort of case agent and the cia partner was an american ranger who was a special forces guy, really strong, had fought in iraq and was a paramilitary officer in afghanistan and have the dead leaves

we're developing a robber barron class at this point. the times just carried an article last week about these retail stores why end, doing very well. we have companies breaking unions currently ver rer is on strike and it's similar fashion after wisconsin and people are involved in politics? it's a class warfare at this point. it's not political any longer. it is social. and we really need to take our country back from the poor leadership that we have been experienceing for the last 11 years so that's all i have to say. thank you. >> let me pick up on the last point. the last 11 years. both democrats and republicans have had control during this time period of the white house. five trillion dollars increase in the debt since bush and 4 trillion under obama. half of the 14 trillion debt. where we are today. >> well the country is fighting two wars and it has reenforcemently had to deal with two recessions. one in 2001 and one in 2007, so there's two major areas where there's been a lot of spending going on. one to support the wars and anot

if you look at my barron's article in 1981, i went through this really carefully. it was a huge mistake by the congress and by the president, but it worked in the long run. but it caused a deep recession of '81 and '82. bill: you mentioned 1983. as we look back, those were the boom years. gdp growth was incredible. fit quarter shot up 5.1%. man, what we wouldn't do for that now. 8.1 in the third quarter. and you believe it was only tax policy that had to do with with that? >> >> not only. everything else was at work too. he did all sorts of things that were wonderful, but tax policy was key to the timing of that. by delaying those tax cuts, we caused the deep recession of '81-'82, and then the boom of '83-'84 was because those tax cuts took effect. but we would have had a very good economy because of paul volcker's monetary policy, regulatory policy, tax policy. it was all kicking in together which was reaganomics. bill: take us to 2011 now. do you see this white house changing policy that would go in that direction? >> no. unfortunately, i don't see them. they're

was this the things which i'm about to say will be commonplaces of the time and barron of offense whereasdn't inflict pain upon my friends and acquaintances and the strangers. no desire to hurt and could get me ostracized and cut off from all human fellowship and the ostracism is the main thing. i am a human and nothing can persuade me to do any bad deed or a good one that would bring that punishment upon me. that isn't a motive that is widely recognized. there is another and that is selling the book. this is about to go to the north american review in which mark twain published a very small selection of the autobiography in 1906 and 1907 edited down so there was nothing offensive in it but this shows you that he is addressing the editor and saying david, let's proceed every installment that since the autobiography will not be issued in book form during my lifetime so you basically have 25 separate reminders that this autobiography is not really in the north american view and you can't get it until mark twain guice that's what we call a marketing plan. [laughter] >> people ask me why isn'

. >> jim from "barrons." do you think the fed will discontinue paying interest on these idle reserves? would that be a good thing or a non-event? >> this computer is locked up or i would show you a slight. the excess reserve positions of the commercial banks -- reserves that do not have to be held to back up to demand deposits, they normally run about $2 billion. as the said engaged in its activities to liquefy the system, they have risen. the fed engineered that. the law changed and they were allowed to pay interest on deposits held at the fed. by adjusting the interest they pay on the deposits versus what they charge that the borrowing window, you can encourage or discourage the holding of that type of asset. they very much encouraged the assets. they encouraged the banks to hold these things as idle reserves. it gives the banks more liquidity. when the world is falling apart around you, liquidity is king. that's what they wanted the system to hold. at the same time, it provides a profit stream, which goes