so if i want all data for campaign finance that would be met the data but if i want data about the campaign finance contributions to this member of congress you can dig deep into a single database. so miers' trying to create collections of data mashing data together so that you can have a bigger picture of the data and what its impact might be. >> what process does your organization go through to make sure this information is presented as it is and not interpreted like you talked about at the beginning? >> dever ase status of organizations that we mostly fund to create data have longstanding reputations in taking the debt that comes out of government and then putting that into searchable data formats and now pleading with date at all, not interpreting the data at all so whether this open secrets.org op run by omb watch this is just the facts. it is just the data. there is no interpretation on this data so on the database we create ourselves as we have a database we created is a small one but no one has ever done it before called party time and this has to do with the fund raising evens memb

mining approach, it was anti-data mining because it uses algorithms across large data sets what and we call predicate based search so we would look at you and then we would go out and say oh there are lots of different things in your life that may be indicative of someone being -- someone involved in bad behavior. but it would also be very clear how the government looked at you, it wouldn't be a wide net cast into a sea of data that brings back all of our -- all of the innocent citizens touched by the net, very precise operation and each step in that operation is documented. >> charlie: how much of your business is finding terrorists for the u.s. government or whoever wants to hire you? >> well, we -- >> charlie: 50 percent of the business or -- >> most of our business is in government, and it all involves both sides of this h equation. finding people who are up to essentially bad things, both in the anti-terror area in cyber, in financial malfeasance, mortgage fraud and also making sure the data is nagged a way that allows agencies to collaborate with one another, which is a big fi

to my own surprise, a lot of data out of the u.s., the data is confirming that.hat we've seen from gdp and the pmis and smis of the world is all improving. the market only wants to see the positive news. it's ignoring, for example, that retail sales this morning from germany. so we are definitely in the mode that the recession is over. it's a relief, really. and i think that is still set to continue. we've tested with critical levels of the market in my view for the next couple much weeks will slowly move upwards. >> thomas, you sound a little bit hesitant about the market moving in upwards. richie, you think the bear market is over, that the recession is over. are you as hesitant as thomas is? >> markets have always looked forward, nine months or further than that ahead. any data coming through showing a significant slowdown in data, maybe even up signs of growth, which is a financially important area globally will help equity prices move up. what i am saying is that i think the bear market is over. it doesn't mean we don't move down 8 or 9% in equities. any kin

data on use at work.ou know, although that seemedo have some effect, it wasn't, you know, the effects weren't as strong as that on kind of direct broadband or direct advance internet investment. there was one other -- and if you sort of look at correlations between the cbs sort of individual measures of investment and the measures that we use at the firm level, you know, there is a correlation, but it is in perfect in some sense. unfortunately, you know, i think that survey is not being refreshed every year so our data, even at the residential level, the individual level, on internet use is somewhat imperfect so again we have kind of an issue associated with finding, you, another issue associated with not having data. >> could i ask a follow-up question based on your comment, and jim's earlier? which is that several of you pointed to the lack of data that would be necessary to do a more prece quantification of the impact and benefits of broadband. and so the question i pose to you is, can you identify and

we have a slew of economic data there. i want to zone in on the lending data. this is the lending by chinese banks. now, that fell sharply in july from june. something that a lot of analysts have been watching and it shows that these banks are concerned about credit risks. analysts were saying that because a lot of banks were expecting rates to particular up in the second half, that a lot of these loans were pushed forward. we saw chinese banks, the a and the h-shares rally. the boj kept rates steady at 0.1%, which was pretty much expected. now back to bertha in the u.s. >> thanks very much, saijal. here, investors are waiting to see what the fed has to say about rates as it kicks off its two-day policy meeting. announcements expected wednesday afternoon about 2:15 new york time. ahead of that, we're going to get a pair of economic reports this morning. second quarter productivity numbers will be out at 8:30 a.m. new york time. analysts are looking for productivity to have risen at 5.5%. unit labor costs are forecast to have dropped at 2.9%. at 10:00 a.m., we'l

well, data is data, so the organizations that we mostly fund to create data have long-standing reputations in taking data that comes out of government and then putting that into searchable data formats and not, not playing with the data at all, not interpreting the data at all. so whether that's open secrets.org or follow the money.org or fed spending.org which is run by an organization called omb watch, this is just the facts, it's just the data. there's no interpretation, you know, on this data. and even on the databases that we create ourselves. so we have a database that we've created. it's a small one, but no one's ever done it before called party time, and this has to do with the fund raising events that members of congress hold to raise money for their campaigns. we actually take the invitations themselves that we receive from all kinds of sources all around the city, and we have an interface created so that we can enter the data ourselves into it, and then we put the original invitation also up online. so if anyone ever doubts the database information, they can actually go back and

data in the past so it's not there at the federal data collection level.n, there probably are private sources out there. to be honest i don't think i've ever seen and used in a study. most private studies based on basic rate. and quite often prices are collected by researchers by having their graduate students hit websites in different locations and pull a prices. so it hasn't been rocket science in the past. so i would say we probably -- there is more than that we don't know that we do know about prices there. >> you think that is an issue that business enterprise prices are something that should be looked at along with all the other data issues? >> it's hard for me to imagine that that is the margin were federal intervention is most needed. i mean, if i can think of a competitive market for market where the private provision is probably working pretty well you would expect it would be the high-value enterprise customers. >> and the other thing here is so many of those situations, you are actually talking about that are then turning around and being sold

a whole slew of economic data. could any of the date points provide more worries about further monetary tightening in china? >> definitely they will. because lending in july is going to slow very sharply. new loans will amount to only one-third of those expecteded i june. the equity market already discounted that. the base effects will mean from july onward, inflation in china will accelerate. and this will gradually shift policy emphasis towards tightening. i expect in the first quarter of next year, the official lending and borrowing rate will begin to be increased. >> thank you very much. good talking to you, as always. chief investment strategist, sjs markets limited. >>> from china, let's switch gears and head to india. ayesha joins us for the business report. >> it's been a volatile monday. asia was holding up. started off on a positive note. within minutes of trade it slipped down. around the 4500 level. just marginally holding. that's the case for the broader markets as well. what's dragging the indises dow

data on use at work.and you know, although that seemed to have some effect, it wasn't, you know, the effects weren't as strong as that on kind of direct broadband or direct advance internet investment. there was one other -- and if you sort of look at correlations between the cbs sort of individual measures of investment and the measures that we use at the firm level, you know, there is a correlation, but it is in perfect in some sense. unfortunately, you know, i think that survey is not being refreshed every year so our data, even at the residential level, the individual level, on internet use is somewhat imperfect so again we have kind of an issue associated with findin you, another issue associated with not having data. >> could i ask a follow-up question based on your comment, and jim's earlier? which is that several of you pointed to the lack of data that would be necessary to do a more precise quantification of the impact and benefits of broadband. and so the question i pose to you is, can you ident

we take that data and tag it. if they use it in a case againt you your attorneyill see that and say okay ts data came from data i gave you, this is enormoly important, you won't help touy in to he the government protect you uess you know your liberties are protted and this is something we do kind of turnkey or as we say in the centrally out of the box. whether you use us or whher you builthe system, that not my point, these kin of things have toe buil in and ked and they have to be discusd with the american people. >> charlie: i am always per plek plexed by with this esion, if the a can hire people likeÑi you, like palantir technologies, why can'tad guys hire people, not you, but peoe like you? >> well, i tnk -- >> they don't est? >> no, no, no. i think the bad guys do get ople of equal talent to what we can get. i think that we, in america, are very good at oanizingurself, so tt we out particle the bad ys they get but i thi they get veryalented ople in the cyber context is a great example. you havehat are probabl

is that a fair interpretation of your data? >> that is a fair interpretation of the data. if health-care reform is successful in controlling health-care costs, and we still have a system where there is employer-sponsored insurance, it is true that in st. which provide insurance to a large fraction of their workers', which tend to be industries with skilled workers, are the ones that will benefit the most. >> i have to admit to being an economist. i am not persuaded. from 1987 through 2005, you have health care cost increases, you have stability in the early 1990's, not having read the paper, i don't know what the exact productivity measures are but in utilities, you have many additional computerization said. you would expect people doing a lot more with lot less. productivity is up but employment is down. that sort of natural. there are too many other things that are not controlled. i look at it from a different perspective. if you look at it from the labor department, employer compensation survey, i don't know what was like before the mid-1990s but from then onward, avera

so august is still very, very much a busy month for data. as far as gold is concerned, with the dollar move gold this morning is lower right now. we've got spot gold at $939.45, off about 0.9%. psychiatrist teen. >> hey, bertha. joining us now for market strategy, we have our panelist, david cosbow. and here in singapore, steven davis, ceo of javelin wealth management. steven, are you at all surprised at how big a role the shanghai market played today in dictating market direction here in data? is this a start of more to come? >> i don't think one should be at all surprised. i think the only thing that's a surprised is that it's taken as long as it has in order to have a relatively sharp, quick correction. i think overall, asian markets have all rallied extraordinarily strongly this year, and in particular, obviously, since their lows of march 9th. so it's inevitable that we're going to see a degree of profit taking, readjustment of portfolios, call it what you will. i think on a longer term basis, the outlook looks roently positive and cert

he also asked about new sources of data, particularly quantitative data and how the metrics included could be more precise. we ask questions about where this market segments that were not covered in previous reports. these include inputs or infrastructure segment such as spectrum and back called, towers, and edge screen devices, concert -- content that rely upon mobile services to reach markets. we asked for how vertical relationships across players in segments in the upstream and downstream markets affect mobile wireless competition. the general outline should be on the screen. in addition to more of the methodology will issues that i just discussed, we ask about specific issues. we ask about the relationship between ongoing investment, as well as the effects on entry and growth, how new network technologies are affecting competition, and how worthless competition there is across geographies, including differences between rural and urban areas. we invite a wide range of people to provide comments and data in response to this. we have listed some of them on the screen. they include s

we're looking for some consumer data out today. some experts are still afraid we're going to slip backwards. where are you, do you fear a double dip? >> i prescribe to the upswing perspective. what i had done is look at lead indicators to try and ascertain where we are likely to head. and i think the more one can discern most significantly is the probability that in the fourth quarter, we will begin to see positive movement in the unemployment numbers and i think that will be extremely good for consumer spending. i do not prescribe to the views that we have to have a really very sudden and significant pick up to the savings ratios. i think most of it is in the bag. >> roger, are you in that same group, are you a bit more bearish? again, are we on our way out? >> no, basically we are still positive for equities. and we believe now that since we have more evidence that also europe is coming out of the recession led by germany and france, we think that the global investors will reallocate some assets. the impact might be that some of

whether it is gathering data, to analyze data sets coming off of data.gov. whether it is making commitments to one another, as is in this case -- if you participate in cleaning up the park, i will donate $100 to help by the garbage bags. whether it is actually helping to crawled source, to get networks of people involved in identifying problems like pot holes in their communities so they can be fixed and identified. whether it is using, again -- this is on-line technologies to enable people to solve problems, as in this case in connecticut. this is an older project but my favorite example because it involves senior citizens and young people involved in cleaning up derelict building sites in municipalities in connecticut. what was wonderful was the collaboration that the government undertook with citizens to help solve the problem to clean up those sites, thereby bringing down crime, bringing down drug use and other urban blight problems, all because these networks -- the government and citizens were connected together on broadband networks, using new visual

what does this data mean, though?us now is ian devitt and we have two sides of the debate in the studio here today. paul, let's get you to set out your thoughts on the deflation side. >> yes. i think what i'd like to start with is people are debating whether the outlook is for inflation or deflation. through zone inflation has been falling negative 0.7% year on year. across the euro zone, it goes as low as minus 6%, although it's an island year on year. in the uk, the rbi is falling, the cpi is up. u.s. and japan inflation rates are negative in both those countries and china, as well. so i think it's the -- you know, the onus is on the government. there are many good reasons why deflation is ahead. >> ethan, how would you counter that? we're seeing deflation and besides that 0.7%. why would we see inflation at this stage? >> we've seen deflation because of what we've seen in terms of commodity prices falling and the lagging indicator that that might be. also the fall off in demand. so i think we have to factor in why

the only data that we haven't seen a ton of support out of is the jobs data, which is somewhat troublinghis cable stabilize from housing to consumer confidence and we expect housing data and durable goods to surprise slightly to the upside, as well, it's going to be databased now. >> speaking of data, then, bob, it's maura here in asia. what about the revised q2 gdp numbers come out tomorrow, do you expect any major revisions or changes there? >> you don't generally see major revisions in the second round of the data. i think the surprise usually comes in the first and the third, generally. so we don't expect a ton of movement out of that. but i did see some positive signs out of the german ifo numbers, as well. the zew numbers will help move markets today and you've got technical signals. you've got a weekly close above retracement, looking for a target at the end of the week of somewhere around 1053. and if we can get up there, it also is a precursors to a start for a positive week next week. once again, these summer markets tend to trade more technically, but the data has been stabili

is this really data driven? >> part of it is data driven. but you're absolutely right. i think we're in the summer period. i think we observed -- in terms of market participants, that is pretty much driven by model accounts. so we haven't seen any firm names so far. which are in the markets currently.y. this is the reason why we traded even last week, pretty rangy. i'm a bit scared to see that today. we opened pretty weak. maybe we get better data tomorrow. then maybe model accounts are forced to cut back their positions. overall, the positions shows that the market is it slightly under way dollar.. this is maybe the reason we see a further aappreciate yapgz of the dollar in the week. keep an eye on it. i think market participants are mainly model accounts. >> this is christine. the japanese currency, the yen rising on risk aversion. how far high do you see the japanese trading and could it it reach 19 to the dollar? >> maybe for this week i expect 93 where we can trade down to. especially on the back of the risk aversion. also, i think there is no structural demand for

we want to set this data free. we will find much useful information in 20 different areas ranging from schools and road traffic and publish it so people can use it. this information will be published proactively and regularly and in a standardized format so the technical jargon can be interacted with. we will create a new right to date at sodic -- and you write to data and can be requested by the public. as i said in my speech to the open university, to get real accountability, we need to draw on the traditional means as well as the modern ones i have been speaking about. that means strengthening parliament. we will give the house of commons more control over its timetable. we will reduce the power of the party quips. it means training in and reversing the regulation of our lives by an account or judges who are changing the legal landscape with judges -- with their judgments in the courtroom. we will insured greater democratic accountability over the creation of any new rights. also means strengthening the line of

we have data by industry. that doesn't really tell you how many people have lost their health insurance, et cetera. >> but can it tell you if certain types of employees are more vulnerable than others because they are employed in certain business that's are losing jobs or, for example, are part time workers and lower wage workers at higher risk due to the cost saving measures? >> yes. our details are going to come out fairly shortly for march. but in general, i can tell you that right now 85% of full time employees have access to health care. so i think you see the shift from part time to full time work. we have health care issues there. and full time employment, so far this recession is falling by nearly 9 million people. so this is pretty significant. >> mr. employers told us the rising cost of health insurance is unsustainable. do you think they're contributing to the flat labor market? >> i would imagine they are. the most obvious impact is on wage growth. and -- >> do you have any data on how have ight im

adam, the nonfarm payroll data tomorrow, anticipating volatility up to or right after this barrel dataor is that priced in already? >> i think the forecast is pretty much spot on. it will be slightly better than it was the last time around. we'll maybe see cable up to 1.70. again, fairly brief. we'll hit that 1.70 marker and get profit taking and they will be less bullish on the market the next couple of days. >> adam, thank you so much for coming in. >>> coming up on "worldwide exchange," we will bring you up to speed with all the top stories making headlines across the globe. >> also, european shares are trading higher on better than expected earnings. we'll have to keep asking, is a correction imminent? >>> i'm christine tan. in asia, lenovo reports a smaller than expected first quarter loss and joins dell in warning about weak corporate demand. >> hello, everyone. i'm louisa bojesen. market are getting a boost from another massive earnings day and more companies beating expectations. >> and i'm bertha coombs. a cost at cisco could drag on earnings today. the company says things are

you look at the data. you had 1930s -- >> you had periods of inflation followed by periods of deflation. >> like we have now. >> that coincided with the depressions that we've had. we haven't anything like that volatilit volatility. >> but that all became because we we were trying to go off the gold standard. you have to have an overseeing body that increase the money supply is con men's rat with population growth, period. you don't need a federal reserve and you eliminate all the rolling asset bubbles like the tech bubble and the asset bubble. you get rid of them, you'll va balanced economy and 40% of all the job growth coming from the real estate sector like the early part of the decade. >> that is not true. >> what's not true? >> but i do agree we should have a more predictable monetary policy. i don't know that it's possible all the time, but in terms of allocation of resources, resources can get misallocated under a gold standard judgment as easily. >> it's the inflation that causes the imbalance in t

plenty of data to discuss. before we do that, i want to see if we can draw anything out about this debate about qe, quantitative easing. >> quantitative easing has been very successful in global markets. first, it has been a successful tool to fight off deflation expectations and second, it has been a successful mechanism for financial stabilization. the economic outlook has change dramatically. fund managers are now allocating funds towards credit bonds, emerging markets, commodities and other risk assets. however, the detail here is that fund managers are buying and selling after increasing prices. we've got the s&p up at double digit levels in the last two weeks. it's up over 50% since the marleau and that is way ahead of the improvement we're seeing in the real economy. one area that it has failed to address the underlying causes behind the crisis is the discorruption in credit markets. so we have this strange situation where people are saying the worst is over and we have a brighter -- a smoother road ahea

this is macro data. look at which ones have pricing powers when the top line is faltering as it is now and which ones can control their input costs to see which will profit in this disinflationary or deflationary world. melissa? >> joining us now is michael darda, chief economist and david cota. before we get to this discussion we're going to get to mary thompson at the news desk who has a little something for us. what do you have? >> we have the 13-b filings of warren buffett's berkshire hathaway just out and i want to give you an update as to the changes in his portfolio as of june 30th. he increased his position in johnson & johnson. and he decreased his position in a number of companies. i'll run through the companies for you. decreased holdings in united health care by 1.1 million shares. decreasing his holdings in car max by 3 million. he also decreased his position in conoco phillips, eaton down 1.2 million shares. home depot down a million shares to 2.7 million total. and wellpoint, the share hol

we've got a bunch of data coming out today. of course, it is thursday so all eyes will be on the weekly jobless claims. we had a surprise build last week. this week we are looking for a drop. take a look at the ten-year bund yield where it is trading at this hour. right now at 3.28%. we have bonds rallying just a little bit right along with stocks. take a look at the ten-year note. we have back below 3.5% at 3.49. all eyes are going to be looking forward to tomorrow as economists and the fed meet in jackson hole, wyoming. our steve leisman is there and he'll be reporting live on "squawk box" following this program. taking a look at gold, up just a frangz at $942.95. joining us this morning to talk about what's been going on in these markets, quite a roller composter week so far. martin dean marnek and alexis dewann fund manager at global cap xa. alexis, i want to start with you. it seems as though these are the unsyncopal markets. everyone has been saying there is a lot of money on the sidelines. it seems every time we have a d

the unemployment data data is nudging up. industrial output down 0.6% on the month.7% on the year and that is weaker than forecast. we're looking for dips -- sorry, to rise 0.3% on the month and an annual drop open minus 0.2%. so the industrial output is still weak. and fought as good as we thought it would be. on the stock markets, bouncing off their lows today, european stock markets two hours into the session, we have gains for the xetra dax at the moment. autos, health care, media and retail, we're seeing a little weakness in other sectors today, particularly food and beverage on the back of nestle figures disappointing. on the currency markets, the yen has been stronger across the board today after focusing on what's going on in china. christine will talk about that. but the yen has been a beneficiary. dollar/yen, 95.59. sterling is weaker against the dollar. looking ahead to the inflation report coming out from the bank of xwlnd in half an hour, christine. >> it's all about the fed, fed, fed, here in asia today. data sidelines, just waiting for what the fed wil

and then there is data security arguments which you refer to. but there is also hope -- and i will stay with a strictly english accent for this question -- there is a political note argument here. if you really want the state to be the servant and not the master, it does seem that a national identity card turns the relationship of around in a quiet and help the way, and the state becomes the master and you become the servant. that is in a more emotional reasons. i think we are allowed a mixture of argument in a motion. any other questions? i know i have some press interviews to do strip off. >> personal freedoms, i was wondering where you stood on the moral the side of the people holding a morally abhorrent us view, and that is their freedom and then you also want to suppress that. how can you square that away? >> i think that the debate because of -- that debate goes back for centuries. we should be in favor of freedom of speech, and of all the people who hold a warrant used to express the views, but by to say that which is not right, to incite

withholding predicted the economy -- >> my memory -- zblif the data. >> i have the data too.nd it was from my memory of the early part of 2001, it was that it was still positive into july. still positive year on year. >> withholding has -- it was positive. it had plunged from high single digits -- >> what do you do with your money based on your perception of what's going on with the economy? >> i would buy tips. the u.s. -- >> inflation protected treasuries. >> charles, why on earth would you buy tips if you think we're still seeing accelerating job losses? why wouldn't you buy nominal treasury bonds? because if the economy continues to weaken and tax revenues continue to go down, aside from the deficit issues, which are in my mind somewhat separate, a weaker economy is going to push inflation expectations down and bond yields will go right with them. >> ron, the -- treasury is printing -- the preserve is monetizing a trillion of the trillion six debt. they're adding a trillion dollars to the money supply by fiat, debasing the currency. >> then keep doing it until there's som

>> i'm a bit of a skeptic here, i think some of this data is the housing data this morning, the numbers were better, the average prices were a lot lower, and that may not work out so great for homeowners and consumers as we go forward. as far as we're breaking out, technically things look great, some of this data like we just said, confirming some of this technical breakout, like i said, i'm a bit skeptical. that said, there was a couple interesting trades this week with implied volatilities coming in. i sound like a bank of america, for instance, there was a buyer of good side, 17.5 call spread, they paid $1.50 for that, max gain is $3.50, if the stock is above 22.50 on january expiration, and the next one was also on bank of america and this one was more interesting, it was the january 2011 30-35 call spread, up 100% from current levels, and the investors paid 50 cents for this trade, you could make 4 looking a year and a half out. i don't have that crystal ball like that. >> it does back it up. >> i'm just skeptical. these are trades i saw in the market today. >> melissa, to dan's po

. >> the supplement application had no clinical data. they made a modification to their lead, it was never implanted in a human before it was approved by the fda, no human data was submitted to the fda to support its approval. the device is approved on the basis of bench testing and animal data and it goes close to 300,000 patients. the question isn't why are we here? is it is -- it is obvious why we're here. was inevitable something like this would happen. >> you told me something i did not know. you said device manufacturer like this medtronic they fibril later, when it went through the free market approval and everything, it was approved, later on, they made it change to it but it didn't have to go back and be approved and they did note human trials. >> it did need to be approved. the original p.m. a was submitted in 1992, the supplement that approved the lead in question was approximately supplement 25 or 30, somewhere in that range and each of those supplements goes back to the fda for consideration and supplements often do not requ

apparel up, but inside that a lot of mixed data ware. men's apparel falling, but women's footwear on the way up. hotels, you don't want to be in that business right now. talk to scott wapner there, education a perennial price gainer. the deflation or disinflation scare not as bad as in '03, '04. this is the percent change. but certainly a lot of disinflation in the economy. the challenge is i think investors looking for companies with industries in pricing power. industrial production data was up for the first time in a very long time. a half a point. capacity utilization up, but not as much as economists had expected. and there is that foul consumer in light of the positive supply side stuff, what about the demand side? 63.2. july, 66. the fewest consumers in the survey's 60-year history, reporting improved finances, reuter says. many citing job losses, shorter working hours, smaller wage gains. many say the obama optimism may have worn off. and investors are getting much more optimistic about overall growth, adding a full 2 percentage

would you have that data? >> right now, the share of high school graduates the golan to college in the fall are 67%. that is partly the trend. it has been rising as more and more people have been going to college, partly because of a reaction that we were talking about about how much successful people that go to college art in terms of higher earnings and lower unemployment. also, it is probably the case with the job market [unintelligible] they're not really doing anything. the participation in college, it is at record highs right now. >> and that is all the more reason why the gi bill that i talked about earlier is so important because it is another thing that people do not seem to realize. we have colleges that sit on the board and we have found that there are a lot of students, because of the economic situation, they do not have the money to go to school. those schools can appeal and of course, that keeps your -- in maryland, which found that we had all of our schools cutting back with regard to employment

that, it doesn't hurt to ask questions and gather data. it does start to take the fcc in a different tack. there's been talk for quite some time about us looking into what's called hand seth exclusivity, so what that really means in the vernacular is can you download any application onto your wireless device? you can call it a cell phone, but they've really become our personal computers. can can you have any application on there, and can you take that device from carrier to carrier? portability, we call it, can you carry it around. and i've always supported that. but also we have to ask has the marketplace been move anything that direction already? a couple years ago we had a year in our 700 megahertz auction, this was the auction of the tv airwaves reclaimed from the digital tv transition. this rule sort of mandated what we call open access. open access is something i support, but did we need the rule to do that? it ends up there are some companies already in discussions at the time of that rulemaking where they were producing devices tha

the data that's published every month has data that's old as five months in it. so it's pretty old use. >> how do you do that? you're sort of gaming it a little bit. how do you forecast case shiller without actually having the data in. >> it's based upon median prices. and if you keep track of median prices in real time, it's actually pretty easy. the correlations are pretty high. the data's pretty meaningful. >> sam, given what he just said, can't we get that a little quicker? >> we can.. we can look at the current trade marketplace of umm and dmm, which is a forward-looking indicatesor of where people think home prices will be five years from now. >> you know what i like about this, people ask me all the time what's the difference between investing in gold versus gold companies or home builders versus housing? here you're getting an absolute pure play. when you invest in home builders, you're betting on how well the home builder's doing, what the balance sheet of the home builder looks like. it can be a little divorced from home prices.. this is just a pure pla

there seems to be a feel good in the financials and we did get good economic data in the manufacturing numbers and that off seset some negative views o housing and delinquency and everyone focused on the manufacturing data that came in at a good reading. >> thank you very much. >> now to housing where we are still setting records on the foreclosure front. cnbc diana has the report. >> we're still setting record. total loans past due climbed to 30% of all loans out standi ing and the culprits are changing,

data trends the way it has been. it has nts been spectacular, whether it's retail sales or as we saw even with good numbers industrial production, past utilization, it didn't make a big difference. one other point we want to allude to, and that is the yield curve and interest rates have had a lot of volatility on the week. ten-year note yields are down 30 basis points. last week they were up 40. melissa francis, back to you, and have a good weekend. >> you too, rick santelli. taking a look at today's business headlines, the university of michigan consumer sentiment index unexpectedly fell to a reading of 63.2 this month. economists have been forecasting a small increase. consumers continue to worry about job losses and small wage increases, even as they expect the broader economy will improve. the labor department reports the consumer price index was unchanged last month because of a retreat in energy prices. the core cpi, which excludes food and enji prices, rose .1%. prices have now fallen 2.1% over the past year.

so on that data side of the things we recognize is that we don't really know which of data feeds areoing to lead to better analysis so we are doing is trying to release as much data as possible with the exception of course of information that may be classified or sensitive in nature as a result of that, we are finding a lot of innovation happening out there. a lot of people are spotting patterns that we haven't seen before. just fly time in u.s., looking at the airline's we have people that have come out and said this is fascinating. we never thought this flight was this late so people are changing their behavior based on that, but more importantly i think what is happening is even at the local level in the district of columbia for example based on where you're standing if you have an iphone you can pull up an application and see what the closest the metro station is and when the next train is coming in both directions in real time. you could also see on the same application crime near where you are standing and as you move the data gets updated. [laughter] you can also see the close

and statistical data, health data or other areas.o some suggestions, in terms of looking at social media sites, you may want to conder some of these things. let's throw out some ideas. training standpoint. operational security awareness is the fundamental issue. it's about the behavior of the user, whether that's professional behavior or private behavior or personal behavior. we need to educate the user software privacy controls. what are the things you should be clicking on. do we accept the default. should there be different defaults in military users than your traditional private user. we need to educate them about the real threats when sharing personal information onne. and also any other data that they have pictures, et cetera. we need have recommendations in how federal employees need to identify themselves when on these external sites. again, i creates the footint. so how do we want to manage the footprint that does get out there? and then on the personal and professional counts, separating the information between your persona

met ed data is data about data. -- meta data is that data about data. that sounds esoteric, but it's basically how can you find what you're looking for. if i want all the data about campaign financing, that would be meta data. if i want campaign contributions about a certain congressman, you can dig deeper into a certain database. sunlight is trying to create--- direct -- directories of data so you could have a bigger picture of the data and what impact might be. >> what process is the organization go through to make sure capricious presented as this -- to make sure this information is presented as is and not interpreted? >> we have longstanding reputation in taking data that comes out of government and putting it into a searchable data format and not playing with data or interpreting it at all. whether that is open secrets or follow the money, or that spending.org, these are just the facts, just the data, there is no interpretation. even on the databases we create ourselves, we have one we've created a small, but nobody has done before. this has to do

it cannot last for long periods. >> and daniel, we've just had data out here for the euro zone, m3 data they say private sector loans up 0.6% versus up 1.5% in june. the m3 numbers are lower than forecast. there's not much credit going into private sector. whether it's because they don't want it or because banks aren't lending it, but it's another sign that consumers are going to stay pretty weak. i wonder, therefore, whether we should be much more focused on an asian consumer rather than western consumers. >> absolutely. if you're looking for consumer demand globally, i don't think you'll find it in the west, you'll find it in the east. but the issue for asian markets is they depend very much still on the developed world consumer. if that area of the world remains weak, which i think it will, then that is problematic for asia's economy and asian markets. >> no dislocation between the two inner opinion? people are saying, look, we are de coupli decoupling, but you don't think that's possible? >> there's an element of decoupling, no doubt about that. i mean, the chinese consumer has held

as we mentioned earlier a lot of housing data due in the week ahead peter along with us over at the cme group certainly that's going to be catching him lines in the days ahead still holding to the gains that we have seen recent march in the july gains with the make of the market over all? there has been a few big things that happened since march relaxed a fast the roles are in the bank's bailout but accounting rules to change which has helped drop interest rates a bit of these teams have helped put a bit into the stock market. you had earnings come better than expected so we have a lot of very scary scenarios actually not come to pass and the market has rallied as a response. do you think as and be close to a thousand is fairly about you? i'm want to say the market is always correctly priced. i do think going thwart the the pain that exist in the economy has not in any way dissipated and i think as we get into the fall and we start to get growth numbers would better transit to that we will reprise equities in little bit low. i think in the very little too high. will pull for the oppress

there seems to be a confluence of data. you look at the jobs, you look at the housing data, you look at orders, things are still terrible out there but it seems like there has been a fundamental shift. yes or no? >> there has been a fundamental shift really starting in may. may through june, july. if you look at many independent sources it, this could be the national association of home builders, it could be the federal labor board, many different sources, also for-profit sources. all of them showing now in a back look improvement since may both in the decline of the unemployment report. it's half of what it was in the first quarter. now down to -- not good. let's not mistake that. but certainly better than we we were running in february, march, and april at 650,000 a month. secondly we're seeing price value of homes increasing for the first time. the median price avenue a new home in this country has now gone up close to 8% in june compared to may. the second factor is the foreclosure rate. those are actually in certain pa

lot more data to come. industrial production, 915. we will give thank you results of the philly fed's survey professional forecast. one of the main survey followed about what economists -- at 10:00. infind a lot of drama in this nothing number for investors out there. they ought to be following carefully because in this world where top line revenue is not growing, pricing power and gross margin are the keys to investment. >> all right. >> let's find out how all this is playing out in the market. bob pisani leads off the parade at the big board. >> not a lot of reaction. a lot of talk down here about china. shanghai down another 3% overnight. seems to be decoupling from the u.s. and europe. down 12% in the last seven, eight sessions. retailers coming in. abercrombie & finch up 7%. 30% decline in same-store sales, however. jcpenney, well, beat by a penny here. good news is raised in value the full year. third quarter numbers, a little below expectations. i think they are expecting fourth quarter to be a lot better than people think here

albert gonzales allegedly stole data from nearly 130 million data credit cards to customers belonging retailers. he's facing similar charges in two other cases. officials say that he's broken his own record with his latest, alleged attack. if you are going to be a victim, richard louie is the details that were targeted. that's in less than ten minutes. >>> what a difference the day makes. the stock markets are in the recovery mode after yesterday's plunge. the dow lost 18 # points and the nasdaq lost 65 points. an investment strategist says, do not hit the panic button yet. >> i think what is happening simply is that the market is did i jefting the games that it has experienced over the last several months. analysts may expects that number to rise. it may be a sign that the building industry will face a bump in the country. >> the first hurricane of the atlantic season is now a category two storm. it could strengthen as it passes near bermuda at the end of the week. >> people are like, oh, get him off it and we are due. the last one came in and gave a lot of damage and it was opal and

evidence gearing up towards these nonfarm payroll data this afternoon and the employment data, even though it's seen as that bit of a lagging indicator. anything positive there may bring back this whole risk trade that we've been looking at, get rid of the profit takers and maybe push this market higher again. >> what's the problem with rbs, is it the contrast from what we've heard from them and other banks? >> i think it is and the fact that we were expecting to see much bigger in terms of actual profit than maybe the 15 million we got. the write-down we thought we were going to get, anyway. but the whole issue is the way we saw lloyd's and their write-down, the worst is over and now we can move on, things aren't being seen as the same way at rbs. i think retail banking is under a lot of pressure. retail banking is really under pressure at the moment and while that's the case, banks are going to struggle. >> patricia has the story in germany. >> we did expect that, but what we did not expect was the reaction on allianz after they came through with their numbers. the combined ratio is some

when looking at the data, we have data in the nineteenth century, starting in new york's, which is available, it appears that no pattern ever appeared. it is completely random. and any mathematical model which tried to introduce a prediction in the evolution of the crisis in thearket, all these models have been proven wrong, including many models which have been used in recent years,t least not to use money. these models were an attempt to predict the evolution, the conclusion is to say at that spage, we have no mathematical tool to predict the financial market, randomness is mild, physical nature, in the financial world, randomness is complete. many mathematical models come to your mind. the recent stock exchange crisis, proved to be extremely precise. the second question, the relevance of mathematical models him general, taking into account human nature and common sense. for the purpose of the mathematical model, it is very limited. sin number of permits in ecomics which tend to repeat themselves. there is a mathematical relation between money, creation, there is a mathematical relationshi