g.d.p. that works out to more than $3.5 trillion, more than the g.d.p. of germany, and more than half the g.d.p.'s of china and japan. so the promise is clear. what then is the problem? if women are already making such contributions to economic growth, why do we need a major realignment in our thinking, our markets and our policies? why do we need to issue a decoration from this summit? well because evidence of progress is not evidence of success. and to be sure, the rate of progress for women in the economies of our region varies widely. laws, customs and the values that fuel them provide road blocks to full inclusion. in the united states and in every economy in apeck, millions of women are still sidelined, unable to find a meaningful place for themselves in the work force. some of those though get to enter the work force are really confined by very clear signals to a lower rung on the job ladder, and there is a web of legal and social restrictions that limit their potential. or they are confronted with a glass ceiling that keeps them from the most sen

back and not in thirty's about the jet that was one hundred seventy five percent of g.d.p. when the great depression began it blew out to two hundred thirty thought the same but that was entirely because of deflation and folding output from not in thirty on the aggregate level of debt in america was holding in from a peak of one hundred sixty billion dollars small in numbers that then down to about one hundred twenty one hundred ten by the middle of the not in thirty's that daily verging process was driven mainly by the known financial bank a business sector has been on financial businesses in the shops the manufacturers and so on had a debt to g.d.p. ratio of one hundred twenty five percent so when the crosses hit when the boom came to an end of the data into the nine hundred twenty s. they were the ones that had the massive they had to service the debt and their response was to cut their process and try to drag customers in through their duels rather than through the neighboring business over the course they hold it so process felt that a dramatic dramatic right and they

still, if ever a dark cloud had a silver lining, q3 g.d.p. might be it. it turns out g.d.p. expanded more slowly in july through september, mostly because businesses drew down their inventories by a lot. economist bruce kasman says that sets the stage for a stronger economy at year-end. >> i think what it suggests is that what we lost in this revision in the third quarter, we'll probably get back either this quarter or next in terms of somewhat more strength in the inventory component. >> reporter: j.p. morgan is expecting the economy to grow at an annual pace of 3% in the fourth quarter. but that will probably be as a good as it gets for a while, due to some serious economic headwinds. >> we're not building in an extension of the payroll tax or unemployment benefits. and as a result of that and the european recession, we think growth is going to slow pretty sharply as we go through the first half of next year. >> reporter: to be sure, kasman does not expect the u.s. to slide into a recession in 2012. but other experts are still worried. that's despite stronger readings late

they have debt to g.d.p. ratios that exceed the levels, way exceed the levels normally that are required for admission into the european union, and yet they continue to -- to struggle with these huge amounts of debt, much of which was created over a long period of time, didn't happen overnight, it's something many of their governments made promises they couldn't keep. now they're dealing with that and trying to figure out how they're going to work their way out of it and it's becoming increasingly concerning i think to people all across the globe and certainly here to us in the united states. and if you look at the debt to g.d.p. ratios in some of these countries around the world, they're pretty staggering. greece is somewhere in the 180% debt to g.d.p. area, you've got portugal, spain, countries like that, that in some cases in excess of 200% debt to g.d.p. where are we in this country. we're already about 100%, our g.d.p. is at a level we haven't seen sips the end of world war ii. spending as a percentage o

g.d.p. by several times several times china and that you use it's more than global g.d.p. so derivatives are very complicated obviously but this brief overview should do enough to help you understand why they are important and can cause so much damage to. alright so we've gone through some of the serious stuff today now let's go through our take on some of the less serious stuff but still important. so dimitri kovtun as our producer joins us here in the studio as has shannon donahoe who joins us remotely from the control room all right guys so a lot of people have heard about american companies outsourcing jobs to india to other countries like that. obviously hiring in the u.s. as and you know it's a difficult thing jobs are scarce so one solution is immigrants coming here to create jobs and that's what one indian man is doing who he's hiring one hundred people and one hundred days the c.e.o. of this company an indian immigrant believes that he needs to do something about this economy he's decided to do his part so is this a little like how the u.s. government was kind of

our private debt represented a little more than fifty percent of g.d.p. and correct me if i'm if i'm remembering these numbers wrong or if this doesn't seem right to you and it has. during our giant credit bubble that we had particular the last decade and a half it exploded up to a point of there was over three hundred percent of g.d.p. just private debt in the united states and that it's now de leverage you mentioned leverage and it's it has unwound by about fifty percent so we're down to about two hundred fifty percent of g.d.p. but that means we've got still had a massive amount of private deep debt that needs to be d. leveraged over all either a long period of time it's like a ten or twenty year depression or very rapidly which is a very deep depression does that make does that all make sense to you. absolutely we are in a phase that is called the leveraging people cannot carry the level of debt they have wages are not going up so people have no underlying the economic income to carry debt they have to reduce their debt they took on more than they cou

and also that the deficit knew you when you couldn't exceed three percent of g.d.p. what it meant was if they wanted to fund the deficit larger than that they had to raise money by going to the bond market they couldn't get the money off the central bank which is that if i didn't assume in america three quarters of the american dollar would need to be funded by the american government selling bonds not bank by the federal reserve so it's an insanely bad system that would guarantee to follow that even with a small crisis there was no a no brainer for me to make a comeback in two thousand so again italy boils down to near as they call it on and i just for everybody that doesn't understand economics profession is this what everyone is trained in that is. so you can only say has is a lot of science people think it's a science that's why the nobel prize which is a job it's not a real nobel prize so that made up of the swedish bank rather than by the nobel committee but. in a genuine science fun has experimentation and a critical engagement with the dod to see whether your

driving them into the markets for some weeks already we will also see the release of third quarter g.d.p. results for us on tuesday which will probably be some driver for markets worldwide otherwise we have to confess that internal russian news and from the russian advance on that were important for more. on the european situation and of the resolution of the problems there. prices and everybody's been still that we will see the traditional christmas rally before the end of the month which can be probably longer than over the last year or so unfortunately for now we do not see any prerequisites for that. that's it from the business scene for now join me for another business update in around fifteen minutes and stay tuned for the headlines with more enough. to. was that that has become commonplace and mobile is joining the creation of the group of that system the global food system is not created to feed the people of the world is created to maximize the profits. gernot trading the actual cash the physical grain your trading promises for grain to be delivered a month or six months or twel

country this year the expects its capital flight is equivalent to nearly five percent of russia's g.d.p. crisp with a from troika dialogue believes it's not domestic stories but global woes that road climbing the cash drain a significant factor in this year's capital flight has actually been a stronger or revenues the way the central bank or the way the government accounts for those revenues if the oil companies are right or slow to reply to that money or keep it offshore because you know big investor back home for some time that actually counts as capital flight so in other words money earned and not brought back as this thing from when you put in a suitcase and brought them to zurich i think it's partly to do with just the global situation rather than anything in russia per se people are nervous all over the world euro zone debt crisis could result in a global recession and to celebrate in one hundred thirty years of doing business in russia this wish company has been one of the biggest contributors to the country's growing telecom network president and c.e.o. who says russia is vital

came in at two point five percent and may have been a lot better than it was last quarter but real g.d.p. is barely above its pre-recession peak at the end of two thousand and seven and in other recessions we've been it ten percent some to think about that's all for tonight show my. question is that so much i know there's a huge decision on the market as tunisia so does the rest of the arab world tunisia successfully holds the first election of the arab spring with an islamic party. a very warm welcome to you this is your news today protesters on the. street they have. essentially it's a good chance to try to get the status of the human experiment. to see this rock music which it goes to trial local economy and it's all changed things as financial tips. to maintain confidence in the markets and. want to be seen trade imbalances recession look b.p. nations close to collapsing the subprime loans close. some fail circulates again feeling like things the u.s. crash. team is likely to listen to and street. names.

in greece we see a debt to g.d.p. ratio of 128%. mr. speaker, in italy it's 120% debt to g.d.p. ratio. the united states of america is now at 101% debt to g.d.p. ratio. it's about time we start to take a decision. are we going to be fiscally discipline? are we going to have fiscal responsibility? are we going to continue to bankrupt the future of our children and grandchildren because we were sent here to be elected officia, sent here to be leaders and we were afraid to make tough decisions? historically we won't make tough decisions. i have been here 11 months but i have to tell you we have to do something different. it has to start now or else what do i say, mr. speaker, to my two daughters, 18 and 14? am i going to say that i didn't have the courage to stand here today to make the tough decisions in order for them to have a bright and prosperous future in the united states of america? in fiscal year 2011 we saw a 6.5% increase in revenue in the united states of america. yet, we still had a $1.3 trillion we follows on the heels of a $1.42 trillion and $1.29 trillion deficit. n

negative net g.d.p. after this eight hundred billion dollars stimulus it's going to enter wears off yes absolutely this isn't it is why we need another one but it was the only one when i would have to listen to it i mean to act as we have we had to wrap it up but it was a free market will create well and with a little help from where. thank you very much both of you.

the day that he was sworn into office from 20% of g.d.p. to roughly 25% of g.d.p. today. and he has grown the public debt of the united states compared to the economy from 40% of g.d.p. when he was sworn in to 70%, more than 70% today and he will hit 72% by the end of the year. >> bill: all right. mr. rove, thanks very much. happy thanksgiving. next on the run down, a child who accused penn state coach jerry sandusky of molesting him has to be taken out of school because is he being bull idea. is it legal on the case. and later, bernie goldberg on what the cable news network should do when people lie on the air. coming right back. >> bill: a 17-year-old high school student at central mountain high in mill hall, pennsylvania. apparently fellow students are blaming him for penn state coach joe paterno getting fired and now the student had to be taken out of school. joining us now to analyze attorneys kimberly guilfoyle and lis wiehl. why is this kid being persecuted. >> because he is the first boy, the first victim that came forward and said that jerry sandusky had been mol

we always talk about italy and have been for some time, italy's debt to g.d.p. is at 120%. that's a very large, astonishing number. some new figures have been brought up by mckenzie, a company looking at spain's books. spanish debt as a collective household debt, corporate debt, financial debt, and government debt, is at 363% to g.d.p. that is an astonishing number, and they say the big jump in spain's debt took place when spain became a member of the eurozone and got the borrowing bug. in fact, they increased that debt by 171% once they joined the euro and started getting access to cheap money. it's a huge problem. the markets borrow 3.6 billion euros, and they paid a pinch just under 7%, the horrible level where you go it's all unraveling. financial experts say it's on the precipice, the eurozone is on the precipice, and they believe greece, by the first quarter of next year, will be out, followed by ireland and portugal. it's a real mess at the moment. i'll have more on the "world business report" in about 15 minutes' time. >> aaron, thank you very much. thank you for wa

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth range from zero to one percent this year we will also have the lowest inflation in the last twenty years and around seven percent and i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. we will become a thinking of the markets now markets are rising across europe tracking down gains on wall street and asia stocks in london a higher level by banks products company group two point eight percent i was banking or two hundred percent of the black some resources stocks all the wisest higher couper futures and precious metals of the downside energy group. and line of real tinto sharing one point eight one percent respectively. but here in moscow markets have reversed from a very again they're trading in the red the out here there was a clump of losing over one percent here's a look at some of the individual shelves on the rise in energy majors and banking stocks are lower all that was there is d

russia's economic expansion is excel or rating for the first time since last year g.d.p. was up four point eight percent in the third quarter compared to around three percent in the previous one doubts due to stronger consumption helped by a rise and lending but it's too early to celebrate analysts expect a slow down toward the end of the year as production declines and external demands shows no signs of recovery. european debt continues to weigh on the wall street which is widening its losses both the dow and the nasdaq are losing just under three quarters of the sumps out. and european indices are unable to sustain the earlier games that were due to some optimism about italy and the start of building a new government the footsie was down three quarters of a percent germany's dax is about two percent lower. and here in russia the equity markets and the today pretty much want the r.t.s. some of my sex were up just a notch. and here are some of the biggest movers of the day gazprom and other major bleachers were quite robust during the day but ended the trading session wit

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. of the markets now your stocks are rallying in the early traders american consumer confidence topped estimates and it is approval of debt reduction plans eased concern about europe's debt crisis. on stocks are rising across europe after the italian senate approved and austerity package raising optimism that the euro area second most indebted country will contain the debt crisis. but here in moscow the markets were mixed at the close the r.t.s. was flat to positive and the most of the last point three percent as some look at some of the individual share moves in the mice it's energy majors and banking stocks well what well john paul paul dropped almost three percent well good to be shed one percent buck

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth will range through zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector should be able to continue school feeding and russia's long way to become a member of the world trade organization is nearly over barring a few technical issues that still need ironing out the world's largest economy outside the w.t.r. will finally be in the organization but what will this change across check i'll have that it. after almost two decades of trying many wonder if russia really needs a w t o you could even say it's managed quite well without it realistically though it will have many benefits for foreign manufacturers wanted to sell their goods in russia let's have a quick look now on average import tariffs will be at seven point eight percent that's compared with the current ten percent

growth this year it will reach waterfall a half percent in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. economy school for the. time to have a look at the market stocks were rising across europe tracking down gains on wall street and in asia stocks in london the higher by banks royal bank of scotland group and lloyds banking are both three percent in the black some resource stocks are on the rise on high crude oil futures and precious metals on the downside energy kirby kirby and mine are reacting to their are shedding one point eight percent and one percent respectively. but here in moscow the markets have reversed from early gains and they are trading in the red the south they are just my it's except both losing under one percent here's a look at some of the individual share moves in the my six energy maj

russia's economic expansion is accelerating for the first time since last year g.d.p. was up four point eight percent in the third quarter compared to around three percent in the previous one that's due to stronger consumption held by of winds and lending however it's too early to celebrate analysts expect a slowdown toward the end of the year as production declines and external demand shows no signs of recovery. qatar's and talks to buy a stake in the arctic a liquefied natural gas project led by russia's gas producer nova tech the mall project is expected to produce around five million tonnes of elegy a year starting in two thousand and sixteen and reach about fifteen million tonnes by twenty eighteen qatar's energy minister mohammad al sato says the country is keen to take part of the project. up and is very much interested in the system and . generally we can you can see your mom is. important to point six and we are ready to still. be. here to talk to speak to the. project and we are. in the discussions in negotiation with our partners. and that's all the latest f

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on through actuations in commodity prices and develop the industrial sector. because markets are rising across europe tracking down gains on wall street and asia starts in london a higher level of banks while banking while back top of the group up two point eight percent and lloyds banking group is to have to say that some resources start on the rise and while on high crude oil futures and precious metals on the downside though energy group. might have more to tell shipping one point eight and one percent respectively. here in moscow markets are very worst from earlier games that are trading in the red they are testing miles above was an over one at a quarter of the sat here's a look at some of the individual sharon my sex energy majors in banking stocks are lower all gia

growth this year it will reach a full who percent well in europe and the us g.d.p. growth will range zero to one percent this year we will also have the lowest you collation in the last twenty years around seven percent i cannot say we are protected from danger but we need to count on dependence and fluctuations in commodity prices in developed the industrial sector if you look at the money for school kids. taking a look at the markets now at asia's mostly high following a rebound for u.s. stocks japan's nikkei has reversed into blackouts trading lower and morning session and sang is adding over half over a present of nearly a percent this hour. listing resources for others on the rise with alamy and corp china climbing two percent and european shares are trading flat so negative this friday morning as ongoing eurozone concerns keep investors cautious. and here in moscow markets have reversed from earlier games and are trading in the red the r.t.s. the wisest of all things and over and percent now here's a look at some of the individual samples otherwise its energy

acceleration of probably one percentage point or more in terms of g.d.p. growth i think it's not even so much the quantity of quoth but the quality of growth and really the best thing out of this could be that russia's growth is more driven by other sectors of the economy not just oil the thing about w.t. accession is that step by step in the longer term it will lead to a greater diversification of russia's economy by allowing more breathing space for sectors outside of the oil and gas sector for such competitive sectors such as. steel chemicals agricultural goods as well so i think this is the most important aspect that has to be emphasized a lot of. it's our talking about whether it's run for some three percent five percent it's the quality of growth and i tell you i'm going to go to very interesting comment here because there's always been criticism of russia's economic policy that it doesn't diversify away from energy anough energy exports do you think the job yukio is actually an impetus an outside into tears that will actually push forward that agend

russia's economic expansion has accelerated for the first time since last year g.d.p. grew four point eight percent in the third quarter compared to around three percent in the previous one that's due to a strong local consumption held by a rise in lending however it's too early to celebrate analysts expect a slowdown toward the end of the year as production declines as no recovery in external demand. personnel many i'm trying to solve third quarter net profit has more than doubled to two hundred ninety million dollars year on year that's after higher profit product prices than the ruble helped push its overall revenues however first deputies see over this loss all of you says the quarters maybe achievement was a reduction in operating and finance costs. what you choose to fill the quarter and we're going to keep this result to other cities duction of our cost but significant reduction before compare it with the second quarter of our fortunes of the drop and how do we know for us just did not give us a billet to shore much better results over the second quarter but as

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. economy to the public at the markets now stocks are rising across europe after the toilet said it approved an austerity package raising optimism that the euro area second most indebted country will contain the debt crisis but here in moscow the markets have reversed from early gains and trading in the red the south both are testing the bias it's but to negative. here's a look at some of the individual share moves on the market since energy majors and banking stocks are low oil gentle coral is losing more than two and a half percent basically it's also lower about one percent and all the metal is flat to positive gaining momentum on higher gold box. the russian court has handed all major b.p. aware in i

growth this year it will reach four to fall a half a cent all in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. and a look at the markets now u.s. stocks are rallying and trade is american consumer confidence topped estimates and italy's prove all of that production used concern about europe's debt crisis. and stocks are rising across europe after the talent senate approves an austerity package raising optimism that the euro area second most indebted country will change the tax. cuts here in moscow the markets were mixed at the closed out us was such a positive and the markets was going through a descent here's a look at some of the individual share moves on the my six energy majors and banking stocks while we're world giants look for a job translate collation it failed to find all of the gas of the to be was al

growth this year it will reach four to four hundred percent while in europe and the us g.d.p. growth will range from zero to one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. economy with a look at the markets now stocks in asia are mostly higher following a rebound for u.s. stocks japan's nikkei has reversed into black after trading lower oneself hang sang is adding over half of the santas our banking stocks in the late hong kong wasted resources are on the rise as well with our new york operation china climbing two percent. and here last the markets have reversed from earlier gains and are trading at the r.t.s. is losing a point seven percent of my sex chatting over half a percent now here's a look at some of the individual families on my side energy majors and banking stocks are all or all that was happening have a certain gas prong a setting a quarter sat spur bank is d

growth this year it will reach for to fall a half percent in europe and the us g.d.p. growth who wrote a one percent this year we will also have the lowest inflation in the last twenty years of around seven percent but i cannot say we are protected from danger we need to cut our dependence on fluctuations in commodity prices and develop the industrial sector. let's take a look at how the markets are performing stocks were railing across europe on friday after the tele said it approved an austerity package raising optimism that the euro area second most indebted country will contain the debt crisis. but here in moscow the markets were mixed at the close amid lack of confidence the european debt crisis is being or sold the r.t.s. was flat to positive and the my supposed point three percent here's a look at some of the individual share moves in the minus six energy majors and banking stocks swallow up well giant book oil dropped on speculation it fails to find oil or gas of ghana the speech finished lower over one percent of those gold also saw was despite higher gold pri