dennis kneale joins us. better, worse, the same? >> this is an intractable problem.ama's fall. we have 10, 20 years of binge spending and debt and home equity loans. we had to recover from that hang over. economies of the last decades switching from making heavy metal to digital bits on the internet. any time you have that sea change all affects happen. where obama is making it worse is his policies. which demonize business, go against big business. he goes after millionaires and billionaires, he goes after private jets and tax practice -- and tax breaks. he keeps saying government is the answer. today the ap talked about his run through iowa where these talking -- he's taking part in break-out sessions. [ talking over each other ] >> nothing happens except grandstanding. he ought to be in the white house, figuring out what we are going to do about jobs? that means industry. you should not have the epa passing tougher regulations again all factor emissions and regulating carbon dioxide, which we breathe out. suddenly it is a toxic substance. you should not have the a

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dennis kneale goes on the record, next >> did they think we wouldn't notice? u.s. justice department giving special treatment, they have a class pet. wait until you hear who it is. this is going to fire you up big time. >> vice president biden is in china. unfortunately, so is one of our nation's top college basketball teams. why is the vice president shaking his head tonight? stay tuned for that. check out huge savings at the bass pro shops fall hunting classic. friday only, excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. for red lobster we can find. male announcer ] hurry into crabfest at red lobster and savor 3 crab entrees under $20 like our crab and seafood bake. or our

dennis kneale goes on the record, next >> did they think we wouldn't notice? u.s. justice department giving special treatment, they have a class pet. wait until you hear who it is. this is going to fire you up big time. >> vice president biden is in china. unfortunately, so is one of our nation's top college basketball teams. why is the vice president shaking his head tonight? stay tuned for that. ♪ [ jim ] i need to push out a software upgrade. build a new app for the sales team in beijing. and convince the c.e.o. his email will find him... wherever he is. i need to see my family while they're still awake. [ malennouncer ] with global services from dell, jim can address his company's i.t. needs through custom built applications, cloud solutions and ongoing support in over 100 countries. so his company sees results. and jim sees his family. dell. the power to do more. whether it can be done safely and responsibly. at exxonmobil we know the answer is yes. when we design any well, the groundwater's protected by multiple layers of steel and cement. most wells are over

joining us is dennis kneale.n someone says, i saved jobs or prevented us from going into depression even the definition of recession and depression economists have made the deaf up. >> this is all fuzzy stuff. what the president said today, he took off his january 20 -- he took office january 20th, of '09. in less than six months barack obama says he got us out of the worst recession in 60, 70 years in six months. now because of freedom in the mideast and because of the tsunami and earthquake in japan, now he is unable to fix the economy, after 2 1/2 years in office. if he was able if fix it and get out of recession in six months how come he can't fix it this time? in june, before the debt crisis and the brinkmanship by the tea party that is supposed to have thrown our economy -- in june consumer spending fell for the first time since september '09 because people are feeling bad. it is one thing to claim credit when it is dubious as to whether they deserve it. when you pair it with his persnickety, put upon petul

back is dennis kneale. should we be celebrating? >> no sooner i start uncorking that champagne then the market futures head down. this morning i get an e-mail from a guy who had been up all night washing -- watching the markets. futures down, up 3 in the morning. then you saw what happened in the last 70 minutes 40 point swing. my gosh it is hard to know where they go tomorrow. official, the markets are this volatile because the fear is in the market. it is this worry the entire world is slowing down led by the u.s. the most important economy in the world, no matter what we hear about china. and the u.s. is showing signs of slowing. when the fed came out and said we are going to leave low interest rates through the middle of 2013, two years. a lot of people thought june of this current year we would be taking interest rates up because the economy is growing and we could afford to do it. the fed for the first time was very specific saying we think the economy sucks wind for another two years. that scared the markets first. traders go