[laughs]. >> jimmy: hello, crandall, how are you? >> i'm good. how ru yo. >> jimmy: how long have you been doing this? >> butt sketches for over 20 years. [laughs]. >> jimmy: you draw people of pictures of people from behind. >> instead of taking a peek i stair a little longser. it's normal stuff. >> jimmy: good news for the guy in the jeans there posing for you. >> jimmy: your sign says you're the original butt sketch artist. are there competitors out there now? >> as long as i keep my attorney employed there will only be me. >> jimmy: that's a good drawing there. let's meet the model. what's your name? >> jared. >> jimmy: where are you from? >> sidney australia. i knew it. i didn't know what it was. i think it's the shirt. we wouldn't wear those here. have you ever had your butt sketched before? >> not professionally, no. >> jimmy: worried about how it might come out? >> a little bit, yeah. [laughs]. >> i had a bit too much to eat at lunch. >> jimmy: if your butt ever commits a crime, this sketch would help police. crandall, keep sketching butt

. >> reporter: coach liz crandall says the gymnastic trials will give the girls a lesson she could never teach. >> they see it in real life. something tangible. somebody going for that dream. >> reporter: and the 2012 games in london will give her a new wave of gymnasts to train. >> all of the kids with stars in their eyes during the olympics will sign up at our gym. >> these young gymnast have a way to support all who will compete in london. >> go, usa. >> maybe not 2012. they'll be ready for 2016 in brazil. gymnastics not the only story making headlines tonight. right now on nbcbayarea.com, you can read why olympic veteran and soccer star, david beckham, will not be returning to the games this summer. go to our news tap, click on olympics to get the most comprehensive coverage. >> everyone is excited for tomorrow. >> i'll practice my cartwheels. >>> i heard you were doing back flips. >> i go to the gym. that was not make you a gymnast. it was a gorgeous afternoon there right now. we have fog blowing into the city. look at -- you can't see san francisco. that's the point. the low clouds

[applause] >> my name is bruce crandall. it always nice to get the microphone after pat. you might think half the people who got the medal of honor or helicopter pilots. that's not so. we had six total, i think during the war although we had some of the heaviest losses in combat. one of the privileges i had was commanding u.s. troops in combat. one of the greatest responsibilities i had was commanding troops in combat. last week, i spent five days at fort jackson, going through some of the training our troops to in basic training and i can hardly walk now. i'm not fit for basic training anymore. 61 years ago, i graduated from high school and i was in the same situation as many of you. i was 5 foot 6 and weighed 143 pounds. i didn't know what i was going to do except i was going to play baseball. instead, i got drafted by the army in some of the yankees or the orioles. my batting average is three times my grade point. not too bad if you are graduating still. i ended up making a career out of the army. part of it was because i had been raised in a home that the service's on

. >> steve crandall should know. he's been part of this strange bmx culture since he was a kid. he owns a bike company and has been to hundreds of unofficial stunt events held in back allies and parking lots. >> bmxers in general are pretty subversive. it's an underground culture, a lot of outcasts, misfits, hell raisers and good time havers. >> thank you all for coming out. we'll run this at 4:00 exactly. >> today steve's in richmond, virginia, seeing a jumping competition over an unusual but tasty obstacle. >> we're going to run over the world's biggest plate of delicious tacos. >> as the riders demonstrate their skills above a giant bowl of tortilla chips it becomes clear that, like nachos, riders get chewed up fast. the stunts are amazing, but so are the crashes. >> oh! >> today's riding was probably some of the most world class that you'll see in a back street parking lot. over a plate of nachos that probably will ever exist in the bmx, or humanity in general. >> the nachos event may seem like nuts, but it's light fare compared to the bonedeath competition. >> we're riding

but an extension of twist and/or further lengthening of short term interest rate guidance and lou crandalleration twist totalling $150 billion for the next three months and to indicate that further purchases would be reviewed at the september meeting. let's take a look at what twist looks like. here's a visual representation of twist, the federal reserve selling one to five-year notes and buying five to ten-year notes. that's what's happening in the fed's balance sheet, that overstates their ability to do additional twist. the white line is the 500 billion level. you talk about short term inside they have about 250 there. to the balance sheet over that period of time, the drum roll if it comes up would be nothing. so they started doing twist and basically they're selling short term securities, buying long-term, keeping the balance sheet about the same. one other look at the ten-year note, what could the fed do that the market hasn't done for the fed already? you're off about this year i think it's about, from that chart there, which is what, that goes back to january so it's about almost 1

the introduction of an easing bias in the fed's discussion of its balance sheet plans" writes lou crandallor the full year now is below where we are right now. it went up for '13 and it went up for '14 as well from 7.05 to 7.35. looking at the stock market yesterday it's unclear which part of yesterday's fed statement really spooks stocks. you had an up and down, there's that spike up and down with the statement, then the market generally rose, and then as bernanke started to answer, he gave his opening statement and as he began to answer questions that's when the market came back off and came back up. this kind of volatility is not unusual around a fed day and my guess, guys, is that the market came a long way in the month of june and the kind of volatility was really just sort of hot money frothing around at the top whereas underneath i don't think there was much action, joe. >> who knows, they closed down 12 points so after all is said and done. the other thing is, steve, we're back in the bizarro world of the worst bernanke talks about prospects, that could make the market go up becaus

let's ask eminent economist luke crandall.members of the cnbc fed survey advisory board. thanks for joining us. and i know that last title is the most important one to you. >> absolutely. >> let's talk about productivity both from an economic standpoint and for what it does for fed policy. >> well, one of the things that stands out is the downward revision. year-over-year basis. that's really just an echo of what we learned last week from the revisions because labor compensation was revised down a lot. it implies that employment trends were weaker than we thought coming into this. that was one of the big disappointments last week. that set the stage for the disappointing reaction to economic numbers. the fact that q4 and q1 look so much weaker in terms of national income. so that just says we have a little less momentum and makes the fed a little more inclined to go. >> as we are getting comments from draghi, he's saying exactly what we'd expect, the economic growth remains weak, news flash for anybody who's paying attention t