instead of selling door for 300 dollars.. i have to sell for 150 dollars.. and cars i paid 1000 for... those prices go way down the fines against junk yards that violate the rules are very stiff... the penalty is 15- thousand dollars for every incident where they don't follow the rules... junk yard owners also face a chance of losing their license... and possibly even going to jail. coming up later in the show, some cash for clunker scams to watch out for. the new week will have the now- familiar occurrence of uncle sam selling billions of dollars of i-o-us. the grand total for the week's offerings will be $75 billion over the course of three days, with the government selling a combination of bonds that mature in three years, 10 years and 30 years. just two weeks ago, the government sold more than $100 billion in bonds in one week. given the pace at which the treasury department has been raising money, it expects to hit the debt ceiling before the end of the year. right now, congress limits government borrowing to $12- point-1 trillion, that's 23 percent hig

if the body is focused on the dollar as we see the dollar we can see the commodities rallies and vice versa for pc the dollar falling on the dollar rally the commodity solve this is pretty much what has been driving the market lately not typically demand. if we are seeing not only in china but in some parishes bullish inventory of oil have recently so we are starting to see the recovery but it's very slow and i would the essay is the big driver of the year. how did look at the u.s. economy you have to remember that really is a global community going after these commodities. if to as you mentioned all prices have been dumping ground close to 10 month highs natural-gas five year lows why the split what is going on? we just haven't seen at the end of the demand left manufacturers the electricity demand and supplies are abundant we haven't had a while her return season if we are entering into winter yet and a lot of the pressure is coming to market as well no interest there and a lot of pressure on the downside however i don't see a time of downside from here. khmers not much left. the us

helicopter ben or king dollar ben? >> i think it will be very difficult for the fed to raise interest rates in here. they should be doing it right now. it will be difficult because the unemployment rate is high. we have a populist political environment right now. when you have pop pewism, it's difficult. >> a tough call. >> brian, stay with you. the new york's labor leader is now the chairman of the federal reserve bank of new york. this is a story, i saw it as a big editorial on invest"investo business daily" a day or two ago, nobody is talking about this, the guy is anti-business, pro-regulation, doesn't like bank, now the chairman of the fed's main branch in new york. is this a nuisance, trouble? what is this, brian? >> probably a nuisance. the equivalent historically is putting williams jennings bryant charge of the fed, he would have canceled the gold standard and flooded money into farms so we have more inflation. that's the worrisome thing, lots of people that think a little bit of inflation, 5, 6, 7% is good fo

the dollar. this is such an important theme. we talked about it on this program last night. i did argue with my great friend, rick santelli a strong jobs report would contribute to a strong dollar. i noticed, as i'm sure you did, the money market boys are pricing in four little mini fed snuggies in the first half of next year. this is bullish for the dollar but can it last? this has implications for what? energy, gold, commodities, raw materials, maybe even industrials? >> the answer to your question, i hate to be the wet blanket, can it last? i don't think so. remember when we're at our worst in the market, it's probably better than people think, when we're giddy like we were today, probably a little worse than people think. i think this is a big day, we're still in a bull market, not calling it a bear market rally the good news the dow rallied along with the stock market is the thing that will drop the stock market into a corrective phase. a lot of people short the dollar and boost it up. as th

it's diluting the dollar. you would expect it to. what's actually supporting the dollar? >> the fed is no longer printing dollars which i think is seen as a very, very good thing. when the fed was really embracing qe, i thought there were some risks that euro/dollar could perhaps go to 1.60 or even above. the fact that the fed is now moving towards letting the market set interest rates suggests that we'll be sucking in huge amounts of foreign inflows to finance our domestic deficit and those will be very, very large in relation to the current account deficit which has shrunk enormously and i think provides the backdrop for a stronger dollar. >> that's a very good point. it's true. let me ask you about the implications, the practical implications on all of this from an investment standpoint. let's say i do believe the dollar is going to have a rally just as a trade over the near term. what do i want to do in terms of investment? do i want to be buying those companies on equities that may benefit from that? do i want to just go straight to the currencies, buy dollars and sh

yes, it's a dangerous game when you walk that tightrope of weak dollar and too weak of a dollar. >> dollar lost a little ground today, not much, still holding the high ground basically. >> this is what we want, want the dollar to lose a little ground and not have that get out of hand. if the dollar rallied, think of all the parts that would be hurt, international companies paid and foreign dollars hurt, exporters hurt. even the banks. because when you look at a weak dollar we make the jump to steep yield curve and say, banks can make money in that environment easily. >> you know, my friend, i have to tell you, i am partial to king dollar. i would like to see a stable dollar if we had confidence in a stable dollar which we don't have right now. to me, these international companies should be totally hedged in their currency position, they all have traders and treasury departments nowaday, you know that. >> i know. >> furthermore, a stable dollar would keep a lid on energy, keep laid on commodity, in fact, take a look at the charts. energy hasn't moved now in almost two months. i think that's

long-term the dollar is cooked. i understand that. i'm one of those first people to talk about that. but let's just talk about for the next few weeks, we're overextended and there's going to be a rally in the dollar. >> no, i thought it was -- >> okay, you go. >> let me turn the discussion to china. because china already came up and there were real questions this week about china actually leading this market. it was first a rebound, it was first the top out. is the chinese market leading our market? >> is that for me? >> yeah, jim. >> yes, yes -- >> for me. >> jim. >> no, definitely. but when this chinese -- when the shanghai composite was off a couple days ago, people were worried, they're back in a bear market, this is a market that rallied 100% in that, a year ago rallied 300%. we've got to suspend the rules for what we consider a bear market and despite the fact people say their gdp numbers are monkeyed with. they're going to make sure that stock market rallies. is this leading us? yeah, i suppose a little bit. i don't think it's

why is it the dollar today rallied? that has been a different dynamic than what you have seen in the past. good news coming out of the u.s., and the dollar rallied? reason being we are looking at the u.s. in terms of growth being the first to come out of this. so the rest of the currencies are rolling over. all the money is coming here supporting the u.s. dollar. >> does that seen like a smart trade? >> absolutely it's a smart trade. >> that the u.s. is going to be the first one in the world to lead us out of this global recession? >> absolutely. >> we're not. >> right. >> i'd go to asia right now, not the u.s. >> and the bet is being placed on the dollar. which doesn't seem to make sense. >> i don't think -- china has a v-shaped recovery, they've had it already, but we're looking at the g-3. look at japan, the u.s., like at what the swis franc today. >> i think the dollar is more a result of a very crowded dollar if you think we're all recovering, but i think the dollar is more a result of a very crowded dollar short a

dollars. now, the key thing here is they said on a above side that the evidence for demand seems to be picking up for places like north america as well as japan. but they say they're not sure if that's because of real demand or restocking. they did say restocking in china is pretty much complete. we could see some number of upgrades on this. now, the key or the question mark is the cash flow because they had record net operating cash flow about $19 billion. what they're going to do with that, the company said they're currently looking at nonorganic growth opportunities. now back to bertha in the u.s. >> thanks very much, saijal. here and around the world, folks will be waiting for that statement from the fed, the announcement due, as it always is, at a quarter past 2:00 new york time. we get june trade deficit numbers out at 8:30 new york time. then at 2:00, the monthly federal budget statement will be released just ahead of the fomc and department store giant macy's reports results of the ohm

i still -- >> you're a dollar bear. >> i'm not a dollar bear, but i'm not a dollar bull. i think we're going to tighten the range for a little while, larry, and make toward the ends of the year. >> that's the long view of the dollar. the -- >> but the last few months, the last few weeks, yes, we're going to have a firmer dollar the next couple of weeks. >> i will take that. i think that's very positive from the standpoint of holding down energy prices. j.j., last one real quick. we got ourselves a fed meeting, and their formal meet something tomorrow, tuesday, they'll make an announcement on wednesday. is there a stock market threat to this fed meeting? >> i don't believe so, unless they say something that is so incredibly unexpected. and let me -- say something crazy. outside of that, i don't think there is a stock market risk to this meeting. >> when do you think the fed will start raising the short terms fund rate is 50 basis point -- >> let's say two meetings away. >> december. that's fairly close at hand. that feds could be responsible to some extent for the dollar's

anywhere from a couple hundred thousand dollars... to even one million dollars in select cases... but some dealers are staying optimistic that the government will come through on the money. i don't know exact number. but i do know some paid.. and some in process.. we're confident.. not worried about it but other dealers.. including group 1 automotive.... ... have stopped selling new cars under the program... at many of its dealers across the nation. in less than 1 month, more than 450,000 new fuel efficient cars were sold under the program.... totaling about 1.9 billion dollars. and out of that.. the government has approved only 140 million in payments to dealers. while the payments have been slow in coming... dealers are still grateful to the unexpected boost in sales... and they're hoping that current incentives will keep customers coming through the door. manfucaturers did good job as far as supporting program.. i suspect they will continue to do that.. inventories low.. may be adjusted. but incentives still very good the goverment has tripled the number of workers who are proc

market i think a weak dollar we are going to see higher commodity prices and weaker dollar is going to be when higher stock market. are you helping fundamentals and the market or just the psychology? i think is both i and the psychology certainly plays a huge role in basically were having to spend our way of the mess that we got ourselves and. weaker dollar means more and higher commodity prices as you mentioned support the soil becomes a drive quick remark oil is interesting story if the market is well supplied to i have a hard time fundamentally cent will go a lot higher if we do see the dollar me drop like a rock one can see that the hundred and 40 a barrel again as you look across the class in terms of, the ideas the folks starting to clarify for gold with the dollar store you're hearing? we heard a little bit of gold and gold is one of those things getting back (thousand been off to races in it so far hasn't been able to muster. the more time goes by gold is not able to put together a an impressive rally. it's been flaring around 9 or 954 weeks unable to sustain a rally. - look

dollar/yen, 93.72. euro/dollar, 1.4246.sterling has been weaker, but it's, again, come off its lows. 1.6219 at the moment. euro/sterling, just below that 0.88 point. christine. >> hey, ross, lots of question marks about the state of the economy. equity markets taking a beatinger after coming up in recent weeks. the nikkei 25 down as a result. the kospi down 0.9%. the shanghai market, concerns about oversupply hammering this market. and the hang seng getting dragged down as a result of weak earnings and poor earnings there, 1%. not a lot of direction, given what's happening in the market today. mike. >> we've still got five hours to go here, christine, until the opening bell in the united states. but the futures, that said, are seeing a slight improvement in the last half hour. so i think the most important thing to watch is what the dow is going to do because this could be its eighth straight up day. and that would be its longest winning streak of this year. as you can see, all of the three major indices are pointing to a f

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we don't need monetary policy, we need a dollar price rule whereby the dollar is the same value today as tomorrow and ten years from now. it would be dynamite from the economy and take the power out of wise men from the fed who traditionally driven us into economic ditches. >> let me ask you about the point of a dollar related price roll. i sometimes call a market price roll and look at what the signals are for gold and commodities and bond and exchange rate. you were a dollar strong governor serving in the 1990s, do you think mr. bernanke would be a king dollar fed chairman in his second term. he certainly wasn't in his first term, nor was he when he worked with greenspan earlier in the decade? >> i think he would take all those factors into account. the right way for the fed to behave is take the information available and make the best judgment on that. one of the problems we experienced in the last 25 years was discussed a lot out of jackson hole last weekend was that when you target one thing, other prices may get way out of line. we've now had a long experience targeting consumer

on this broken dollar. if mr. lavorgne is right, is that george washington on the one dollar. >> the dollar gets tagged tomorrow. >> if the jobs come in stronger, if the jobs loss is only 150, you think the dollar gets tagged. >> it gets tagged. >> i disagree. the fed will not renew their treasury purchase, money supply has been flat. >> it won't like the supply and not like -- >> and people will have interest hikes. >> i think rick is initially right, larry, people will go fo high risky trades emerging market but i think longer term -- >> buying dollars. i know rick santelli knows more about the subject than i ever will. both of you will stay with us. we had this little discussion here. i think we had virtually no agreement, no common ground, what i love about it. the great rick santelli in chicago, and the great here at headquarters. and tomorrow, jobs report. all about jobs jobs jobs. we have a top notch bull-bear debate later. corporate profits ready to soar beyond the estimates of walt. i agree with t

you won't find yourself penny wise and a dollar foolish. >> dollar stores have some of the best dealson party supplies like napkins, plates and wrapping paper but you may only find a limited selection versus a bigger assortment if you go to target, cvs or wal- mart. for more consumer information, news that you can use, go to our website at wusa9.com. and then click on living smart. >>> how about a story with a happy ending? take a look at this picture of peanut the chihhu a. and his owner, laur enphillips the 5-year-old dog disappeared from on ocean fines maryland home on august 5th. a family was out. they were crabbing and they spotted him bobbing in a canal so they rescued him. well, he spent 36 hours swimming trying to get to dry land, but guess what he is finally home. >>> there were fireworks in the skies this week. we'll explain what was happening. >>> is there something bigger out there we need to look for right now? kim has some answers. >> the forecast is definitely coming up. it is thursday and pet line nine. we have kittens for you. we will explain how you can adopt if you

the dollar has been rally the past week. in our "call of the wild," we'll discuss whether the green back can continue to power forward and what it means for your portfolio. >> and i'm melissa franz en, gm's electric car out next year, 230 miles to the gallon. we'll discuss whether interest cars will be the catalyst for lifting the auto industry out of the doldrums. this is "the call" on cnbc. >>> all right. stocks moving lower this morning right from the open, pressured by profit taking and weakness in financials. in addition, a greater than expected drop could lead to a downward revision in the second quarter gdp weighing on the stocks. but on the positive side u productivity higher. the biggest drag on the dow today is ge, down about 1%. the s&p right now down better than 1%. 996 the last trade. the nasdaq right now down 1 spain 33%. trish, what's it like on the floor? >> well, we've got that meeting, two-day meeting beginning today. feds on futures are now pricing in a chance at an uptick in interest rates later this year

plus you've got to figure throwing another dollar store in the mix would be bad for family dollar, which would go from being a second -- the largest or the second largest publicly held dollar store. anyone who wants to buy a dollar store will have a lot of shares to choose from. here's the bottom line. i think i could have made a fool of myself recommending family dollar off increased food stamps. thankfully, the reservations of the chartists got me to probe deep on this one, change my tune, challenge my thesis. whatever gain there might be from food stamps, it won't be noticeable versus the really tough comparisons. plus we don't want to be buying the dollar store when the geniuses at kkr are selling one. we may be dumb, but don't call us stupid. ian in virginia. ian. >> caller: cramer! big, big, big giant boo-yah from all the men and women of the united states coast guard -- >> yes! thank you for serving. unbelievably great job. thank you. and anyone who's ever been in trouble on a boat knows that for certain. what's up? >> caller: cramer, with the economic factors showing the recessio

dollars. the ombudsman says the eu neglected to include in its report some possibly exculpatory information from a key executive who says that dell chose chips by intel not because it was pressured to do so but because they were technically more advanced than the offerings from advanced microdevices. again, this will not turn around any kind of ruling, but intel is appealing this case, and in its last quarter the company did book that entire $1.4 billion fine in its earnings, leading to the company's first quarterly loss in some 23 years. so you can bet that the findings by this ombudsman will be key in the ongoing intel appeal. melissa, back to you. >> jim goalman, thanks so much. for another take on the markets, let's turn to our cnbc investor network, a web cam connection straight from new york city. rick schottenfeld, chairman at schottenfeld group llc is joining us. tell me what's going to happen from here to the close. >> from here to the close i think we might see a little bit more weak

>>: for now, china will pay for brazilian sulphur in dollars. nonetheless, neighboring governments, eventhe us, welcome measures, albeit modest, that allow greater international use of the rmb. but some asean traders still need convincing. >>: a slow transition of the rmb to a regional currency actually suits beijing - given both its huge exposure to dollar denominated assets and the recent g20 agreement to support a dollar-centred currency system. but the die is cast. china's timely goal is to free itself from today's hegemony of a foreign currency. >>abirached: it's a trade as old as time itself, and it doesn't just happen in someone else's country. human trafficking is all around us. the majority of victims work in the sex trade... but even some of the buildings we work in, the food we eat and many of the clothes we wear bear the fingerprints of criminals who use and abuse people for profit. >>reporter: it's slavery by another name. human trafficking is now the third biggest earning criminal activity after drugs and weapons. 36 billion dollar

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dollar. >> what is it the that dollar bulls will need to see that run? the auction, the three-year, ten-year and 30-year? what about those numbers? >> the fed, how they will really pound in its statement the increase in optimism. i think that's certainly one of the key factors. clearly, at the same time, it is a fine balance, which the fed also is running. given that clearly too much optimism in the statement would be a factor, which probably would undermine demand for the treasury auction. certainly, disappointing auction results could also be seen as dollar negatives. generally still we believe that overall a dollar or firm u.s. economic outlook and retail sales on thursday should be seen as dollar positive.. >> michael, this is christine. we have the fed meeting this week and the bank of japan meeting this week. how will this impact dollar-yen? >> i think given that in recent weeks the dollar weakness and the yen weakness pretty much balances, consequently, we did not see a clear trend in dollar, yen. still, the yen clearly was weakening. with the cha

what do you say about the dollar? >> you know, it's interesting because i was listening to tim talk about the dollar. and i'll tell you, i don't know if the dollar can have a life to the upside without weakness in the equity market. and i think the weakness in the equity markets didn't start in our time zone. we all have talked about that. so commodities are backing into a dollar strength scenario, as well. i think we have to look for more volatility place to capitalize, pete. buying those puts on equities when the dollar started to tell us it was time to look, that's worked out, hasn't it? >> i think you're dead on. the idea that people look at the volatility, talk about the vix all day long, but the vix is a great indicator.. not just somebody's opinion, that's money going into the markets, that's money telling you -- >> and they should keep rolling them down, keep them right at the cusp of being out of the money, get in that power curve, right? >> absolutely, you want the most bang for your buck. and we saw that on

but what if gas climbed to 6 dollars a gallon, 16 dollars a gallon or even 20 dollars a gallon? what changes would come then? christoper steiner offers his answers in the new book, $20 per gallon: how the inevitable rise in the price of gasoline will change our lives for the better." we followed him around chicago to profile his insights. "as we go from $4 a gallon to $6 a gallon to $8 dollars a gallon each one of those price points will bring a different change. and that's how $20 a gallon the book, is arranged." the world at $4 a gallon is easiest to recognize because well, we've already been there. and as steiner points out, those prices did bring real change. "well 2.97 is pretty close, but $4 changed a lot of things, people drove 100 billion less miles than they did the year before." that decrease was the largest drop ever and marked the first time in more than 30 years that americans actually drove less year over year. and while those who remember paying $4 bucks a gallon may find it hard to find the positive from such prices, steiner's research points to a bright side. "r

i don't think you want a strong dollar or weak dollar. you want a stable dollar. think the fiscal policies being pursued will help encourage that. i'm not sure i understand what michael pinto's philosophies are but i think the obama administration is working hard to make sure we have stability. >> he asked me a question, let me answer it there. are sabers in this country, retirees who have money in the bank, don't you think they deserve a real interest rate for their savings? that's where i'm coming from. >> inflation is not really a threat. >> no. >> of course not. you were talking about oil prices doubled, they go up every summer. that's not a big issue. >> they double every summer? does copper go up 80%. >> what we will see in the fall oil prices will come down again and have more stability and the oil market will help the rest of the market and have a lot more stability and have a period of growth. i think we need to calm down and take some perspective. >> let me return the favor and come to keith's defense k.s go up in the beginning of a recovery and doesn't

dollar. what's your feeling going forward now? if something is heating up with the dollar, our thoughts is we haven't seen it yet. >> you know, kevin, that's a good point. i thought that the dollar would rally -- short-term rally here off the bernanke appointment. as i look to see, money is fashist and it hates uncertainty. now we've removed some uncertainty. i do believe that they have a soft dollar policy. i think you hear it from larry summers. i think some of christine romer's speeches have the very nuance as we talk about a lower dollar. they would like to rebuild the industrial base of this country which is departed for further shores. and in order to do that, you must get a weaker dollar to re-establish weaker competitiveness. but i think they want a slow creep. they don't want this running away from them. in picking bernanke, i think that gives them some established credibility. if you're going to have a creeping lower dollar, at least have somebody in charge who has been at the foref

in terms of dollar rates, the 5.16 for dollar/yep. euro/dollar, 1.4280. sterling/dollar, 1.6553.e, what is it looking like in asia? >> here in asia, becky, looking mixed at this point in time. asia did get a chance to react from those good gdp numbers coming in from france and germany. the sell-off got people nervous taking money off the table. the nikkei 225 in japan ticking up 0.8%. the kospi up 1.7%. the shanghai market, a lot of sell-off there on nervousness of new shares coming on to the market. pushing this lower 3%. hang seng index up 0.15%. the territory has now pulled out of recession, second asian economy to do so. and the bombay sensitive 30 index is down 0.3%. in terms of oil, putting on gains the last time we checked. nymex light sweet crude is trading around the ranges, $70.85 a barrel. up 33 cents. and brent, as well, tacking on gains following nymex, as well. brent right now trading along the ranges, $74.30. up 36 cents. rebecca. >> yeah. let's take a recap of what we've heard from that deflation data. euro zone july deflation down by 0.7% month on month, which wa

, that hundred dollars would not apply to the hundred dollars with 18% interest. it would actually start paying off the zero percent balance today. and come february, when you pay the hundred dollars, it will pay off the 18% balance and continue to keep the zero percent balance. what that is is a significant savings in the overall interest payments that consumers will make over the long run. >> what about, quickly, the no universal default? that's a big issue. >> it is. and today if you default on a card or have any kind of negative activity on a card at, say, credit card company a, your card with credit card company b can actually increase your rate to what is called a default rate which is typically about 30% or so. come february, that will no longer be possible. so, each card company can only act to reduce or increase rates to default rates when you actually default with them as opposed to other card companies. >> all right. very useful, helpful information. appreciate it. thank you so much for joining us. >> thank you. >>> in july 7.5 million people held multi

dollar/yen, 96.29. euro/dollar, 1.4266. sterling/dollar, 176588. >> those upbeat comments from the fed gave markets here something to cheer about. a bit of a relief going on. the nikkei 225 is up 0.8% climbing -- pulling towards a 10-month high again and the kospi, marginally lower. the shanghai composite managed to recover from late losses, early losses to recovery higher, 0.9 peshs higher and the hang seng is up 2.1%, inching closely to the key 2,1,000 level and the bombay sensitive 30 index up 3.13%. a strong showing there. in terms of nymex light sweet crude, all this good news from germany and france as well as the u.s., nymex light sweet crude is tacking on gains, $71.67. and brent, as well, tacking on gains, trading around $74.74 a barrel. up $1.34. bertha. >> thanks very much, christine. euro zone gdp contracted less than forecast in the second quarter with germany and france returning to growth. in the u.s., fed chairman ben bernanke says the economy here is leveling out. so let's get a read on the current state of

dollar house. may not be as good as it sounds. >>> this could soon be the scene in baltimore. next step being taken to bring professional street racing to charm city still ahead. >> baltimore area non-profit receiving less from the united receiving less from the united way. tell you why coming [ female announcer ] there are few guarantees in life. here's one for your skin that's clinically proven. olay professional pro-x wrinkle protocol is as effective as the leading wrinkle prescription brand at reducing the look of wrinkles. that's because olay has teamed with a highly specialized group of dermatologists and created a wrinkle protocol that gives you the results of the leading wrinkle prescription brand, without a prescription. olay professional pro-x. this is a guarantee you're guaranteed to love. >>. >> the sluggish economy is not only bad for business but also bad for many area non-profit. as a result many are getting a lot less money from the united way of central maryland. john jones us with

or dollar weakness? an average investor want? >> it's the absolute toughest question to answer, mike. thinking is they should want mild dollar weakness. as soon as it becomes anything more than that, then it becomes scary. if you're long the miners in gold and things like, that then you wouldn't carry the weight because even scary dollar weakness would draw money into those. if you're long the market as a whole you want a grinding you dollar lower for now for a short period until we get back on our feet. i want the day to happen when people are buying the dollar from around the world in order to buy u.s. companies but that day is not really today. >> so modest weakness but not any kind of serious drop. >> exactly. >> always a pleasure to see you. coming up, the dow streak comes to an end at eight. is this setting us up for a bigger slide ahead? the top members of obamas's economic recovery team. melissa and the traders live at 5:00. ten minutes to go. we've been in the middle of this range for an hour an

you can't take out the dollar and the stock market and the euro-dollar. they all go in the same banks. all having the same cycles. this correlation will remain. you will see a change of the aussie-dollar if the stock market has to change. the stock market will keep on going up, we think aussie dollar will remain in a trance and it will go up. as i said before, we measure against u.s. dollar and oversentiment, which means the market is overly expanding and close to a reversal of the move. >> we'll have to leave it there for now. appreciate your coming in today. the ceo of acc currency partners talking us through some of the latest currency trades today. much more to come in the next hour of "worldwide exchange." >>> what is the danger of coming late into a rally? our next guest host has interesting things to say about the sustainability of the rally. he is joining us after the break. we know why we're here. to design the future of flight, inside and out. to build tomorrow's technology in amazing ways. and reshape the science of aerospace... forever. around

but, you know, dollar stores are not known for quality.'m looking at your wrapping paper and thinking, this is probably the kind that's difficult, tears very easily. you have to give up some of the quality. >> you might. in some cases, in the case of the, you know, in this foil, 's a little bit thin. >> a lot thinner. >> and also you might find a much better selection of gift wrap at a target versus at a dollar store. it might not be the same quality. there may be some tradeoffs. these definitely were cheaper at the dollar store. >> these were just a penny a round. elsewhere we found them three times the price. >> you found several items that tended to be the same price whether you went to the dollar store or another store. >> right. it was a tie. many of these items, paper goods, you know, party supplies, things like th, were a tie. birthday candles, you know, brown paper bags, i mean, wherever you buy these, whether you go to target or you go to the dollar store you're going to get a good deal on them. >> that's good to know. finally you

and over time, that clearly does put down more pressure on the dollar.n the short run, bigger budget deficits might mean higher interest rates and that might shore up the dollar for a while. but over time, it's bad for the dollar, it's bad for the country, we go into more foreign debtticious undermines our position in the world p it's a thoroughly bad. >> i think see let's look at china as i specific. how might a decline in the value of the dollar affect the willingness of the chinese government to invest in america. >> china holds something like $1.5 trillion in its foreign current reserves. it's the biggest in the world. it sees even a 10% decline coming in the dollar that takes something like $150 billion off of the value of its holdings. so it's obviously going to be anxious and worried. the chinese have been expressing those worries for the better part of a year. they've probably been moving gradually out of dollars into euros and maybe yen and other kurnies. the key issues is whether they continue to finance our deficit in the future. and if they'r

lower volume may be the case but for those who were still making money the dollar is a dollar at this point and it is the holidays after all. it is the holidays and i think a lot of people went home at the end of july in one home short and the day traders who have met and initialed by yes toward combining our play the market and has a tendency to push these numbers higher. your outlook hasn't changed at all with this market activity we know you had you on the with the beginning of the money you're still looking for the malibu, top? it is very toppy from a technical basis on a daily torque and on a weekly charts beings are starting to begin to look as though they're rolling over in the fundamentals are really starting to call into question whether or not this is sustainable well with end of your earnings trading around 19 to 2010 forecast well above $20 that's a very robust the recovery in of the state in the case and i think i don't see it. not to many people are calling for that instead of looking for stabilization at best we have lincoln ellis he's with us over at the cme group. sti

. >> you think the dollar is going to strength? >> i am. i think reasons being that the dollar right now has started to see a lot of currency reserve formulations and for the same reasons that i think the fx cross you're starting to see from sterling into euro starts to equate into more demand for the dollar at these levels. canada is great example when we saw 90 cents versus the dollar. big resistance. the sterling canadian cross was one of the reasons you started to see more allocations into the dollar. you're starting to see a formulation where more dollar demand will not be just export driven but the reluctance of the consumer to spend right now. what that's doing is building a base for the dollar. >> over the past couple weeks, we were asking if we perhaps were going to see actual strength not on the risk aversion trade but on actual recovery. >> well, again, i think what happened is that the boat was teetered too much and right now at least, there were many foreseeable future reasons why you would see the dollar start to fall

city also considering using 12 million dollars in excess cash from last year. even talk of dipping no the city's 13 medical dollar undesignated account. >> really a matter of all of us sharing in the pain. >> unfortunate we are facing yet another round of budget cuts. >>reporter: mayor dixon says she's waiting to hear back from the union before any final plans are made. >>> maryland estate prosecutor is fighting back against statements from mayor dixon's lawyers. dixon lawyers say the prosecutor abused the grand jury process when it issued subpenas. prosecutor says those subpenas were properly issued to gather evidence for new indictment against the mayor on corruption charges. >>> former vice president dick cheney is lashing out at the obama administration saying a new investigation into cia tactics is outrage us. he says it's wrong obama administration allowed attorney general holder to investigate the interrogations of terror suspects since 9/11. >> now they are dragging it back up again and holder will back and review it again supposedly to try to find some

. >>> health care dollars could be headed straight to the labor union, hidden inside a house bill is a provision to give heath care perks with mostly retired union members. deserving? or are they looking for another handout at taxpayers' expense. welcome to cashin in. >> and here is our crew, wayne rogers and tracy burns and ready to be a good sport and mark brenham. okay jonathan h, is in the bill, unions deserve these proposed perks? >> absolutely not. this is another subsidy for unions. like cash for clunkers, like the auto bailouts. everyone is hurt and principle is equal treatment under the law. union workers deserve no more rights, no more privileges than freelancers and small businesses and sole propriety orships. >> is this a stopgap measure for those who can't get medicare yet but is it fair. jonathan says a lot of people can't afford their health care benefits? >> absolutely. but how did we get here, they all sqak about about ceo pay. these workers worked 30 years on the assembly line. they hung telephone wires. they have contracts, too. you want to take them. >> but mark,

the unwind of the dollar itself being a funded currency. what is the implication if this continues? the implication would be that oil will continue to move lower. you'll see copper continue to move lower. you'll continue to see those resource commodities high plays move lower and the first thing you need to see before we can elevate to the next level in commodities is you need to see a ship from cantango just like you're working off inventories in the economy you have to work off inventories in the commodities space to move higher here. >> to counter that point copper was flat today, aluminum was up. nickel was up. so i agree, joe, and i have to agree with that trade. i think the commodity, look at the miners, look at freeport. but the underlying commodities are not selling off because in fact there's a trade there. i don't think that trade's over. >> they're not selling off but i'll mention this and i have for a long time, august is historically a month where all the commodities traders go away. you see very odd things happening from aroun

let's take a look at the dollar rates, dollar/yen, 95.22. euro slshl dorlt, 1.4119.ne, how is it going in asia? >> most asian markets here ended higher. a lot of it was deck tated by whatappening in the shanghai markets, of course. a lot of correlation between asia and china. the nikkei 225 s up 0.1%. kospi up 0.2%. the shanghai market reversing earlier declines, up 1.4%. the hang seng following track, up 0.8% and the bombay sensex is up 1.6%. nymex light sweet crew, up 90 cents, $67.65 a barrel. brent is tacking on gains, as well. brent is right now trading at $71.24 a barrel. bertha, over to you. >> still with us is nick parsons out of london. bill, being a suffering red sox fan right now, i'm going to start with you. these markets looked as though they might be starting to pullback. what should we make of the movement we've seen over the last couple of weeks? is this just the august low volume, a little bit of correction, a little bit of profit taking? >> i think it's some of that. i think we may have a bit more to correct on the downside. but i think the good new

you're shorting the dollar. he thinks the dollar's about to rally from here. gentlemen, good to have you on the program. thank you. >> thank you.. >> we'll see you real soon. 25 minutes before the close'll bell sundays on wall street. dow industrials down 170, bob.b. >> we're going nowhere for the last three hours, folks. volatility index soaring to its highest level in a month, but are the options markets betting the vix can keep up today's rally? answers in just a moment. i'm r tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 i want everything right where i can find it. tdd#: 1-800-345-2550 anything that makes trading easier. tdd#: 1-800-345-2550 i want to be right in the middle of the action-- tdd#: 1-800-345-2550 you know-- i have to see what's going on. tdd#: 1-800-345-2550 and when i pull the trigger... tdd#: 1-800-345-2550 ...i've got to get the best price out there. tdd#: 1-800-345-2550 (announcer) try the new schwab.com tdd#: 1-800-345-2550 for yourself. tdd#: 1-800-345-2550 call 1-888-4schwab tdd#: 1-800-345-2550 or visit schwab.com/trader today. tdd#: 1-80

if i come here at seven and leave at five, it costs only ten dollars. but you can't really sleep. exhausting. >>craft: i'm here at the mambo internet cafe in a section of town called kamata. it's a blue collar section of tokyo. i've all the comforts of home here. i have internet, i have a video player, i havea comfy place to spend the night if i wanted to, they have showers here, slippers, free drinks, theworks! as i say it has all the comforts of home, and for a lot of japanese it is in fact has becomehome. >>reporter: these rooms are plush, compared with the dirt-cheap strawberry internet cafe, which charges 100 yen or about a dollar an hour. cameras are not allowed to film inside, where 200 tiny cubbyholes fill by nightfall with men, young and old. >>japan's internet cafes, in other words, have become flophouses, home to a burgeoning army of part-time workers, and symptom of a national malaise. >>sekine: temp workers are considered disposable. low wages, and unstable working conditions have spread so fast, we have ended up with a population of 'working poor.' no matter how hard

dollar. >> kevin, you have a thought on the dollar trade regarding the pullback, a very interesting set of reasons from jim. >> it is, i think jim is definitely on pulse where the money is flowing right now. i would put it to you this way, they said secretary geithner had an expletive filled tirade about re-regulation. he should be having an expletive tirade about the way people are treating his currency. i don't think the country can continue to think the equity market will rise as we debotch the standards. i would like to see pullback in the dollar, that the stock market actually likes, and ththe then -- [ >> will that happen. >> then i think you will be on -- certainly not on the first day, jim, i think you're right. i think that would be the key to your theme, larry, we're embarked on a bull market much more substantial. >> my problem is i could get us, in my vision, my scenario, i could get us to next spring, i don't know, maybe next summer, i can get us to 1200 on the s&p. i can't get us back to the old highs because there are too many threats, the old high close to 1500 on s

for every dollar that you contribute by calling, all of those dollars stay right here.nt to ask you, it looks like you came up with your dream concert here. i mean you look at the entertainers, katharine mcphee, josh groban, sting, oh my gosh. yo-yo ma coming up. some incredible performers. how did you-- did everybody say yes that you asked? >> yeah pretty much. i mean it's of all the things i've been able to do in my life, the one thing i'm most proud of is the kind of acceptance from my peers. and so when we set out to do this show, i just called up all my friends. of course i've worked with sting forever. josh and i toured for about four or five months together on the road. all the people i have some sort of personal link to beyond just music. >> (bonnie) right. >> and so it makes it so when you get on stage the energy is more friendly than just being professional. does that make sense? >> yes. oh absolutely, absolutely. because if they are your friends, there's a different vibe there. >> well, and t other thing is that we also wanted toake some sort of risk as perfe

i mean, we're at precarious levels in dollar/you'euro, if t dollar tumbles you don't worry the dollar currency? >> we've seen it move from 75% to 63% currently. one percentage point per year. euro has gone from 20 to 27. it's been more slow. it wouldn't be movement in prices but changes in policy. i would say that if there's a downturn in the economy next year and then 2011, it will expose the idea that the fiscal and monetary push didn't work. then they'll be worried. perhaps, an expansion of the balance sheet beyond what the rest of the world wants mike hasten the diversification pros process, hasten the move to alternatives to the dollar. there is no alternative now, by any means -- >> i was going to ask -- >> where would they house assets? the-n china's bond market? they don't have one. >> euro? >> not in europe because of the many problems -- there are many problems within europe and some are greater than ours. and it won't happen in brazil either. there are -- the bricks countries, they don't have flexible currencies right now. >> the imsdr, not a viable alternative? >> there's

but it's only a dollar. >> it's only a dollar. >> so you try it and if it's a dollar. >> finally, kidsk to school, composition notebooks, every kid is going to need a lot of them. >> we found that they actually were about -- i can't put this in here, but they are about a dollar a page pretty much wherever you buy them. there were very few exceptions. so wherever you buy these you're going to get a good deal. so if you go to the dollar store, great, if you don't go to the dollar store -- >> no matter what, these are made well snuff? >> yeah, they're very similar. they're all very similar. >> any last words to the buyer about all these? >> the last words are be careful. we found a lot of safety hazards in addition to party favors. anything that could set your house on fire, we found lighters that didn't turn off. we found tiki torches that like went on fire. we found lots of medications that were expired like aspirin, and gas relief drops for infants. so you've really got to be careful when you go to the dollar store. >> check everything before you buy anything? >> absolutely. >> lisa le