gary b smith, tobin smith. jonas max ferris along with the author "the great crash ahead" and the aspen institute, susan. welcome everybody. okay, harry, forget it a new recession, you think we can't get out of the first one. you have two economies, the households with middle and low income wages and part-time jobs instead of full-time. many are underwater in their mortgages and their unemployment rates are more like 9 0 -- 9 to 10% and the flip side. the college, they're gaining jobs and control about 85% of the financial assets outside of real estate and what the fed has been able to bubble back up with the artificial stimulus and we don't think it's going to lost. the top 20% are doing okay. shopping at guccis. most people feel like recession and never came out since 2009. >> okay, make the days for recovery. >> and we've had jobs created, a strong number and it's getting us up to a good place and 25% are manufacturing jobs and it doesn't happen overnight, but there's no denying that this is a good friend. a

gary b. there is a different direction than just up and down. >> it is side ways and that is what you are seeing here. some companies are reporting good and some bad as you know. and that reflects uneasiness. and not pervasive negativism. we can speculate. but we don't know what is going to happen with taxes and health care and what is happening with the election. there is a lot of uncertainty . people are trying to feel their way through and we have relativelily high unemployment and housing prices haven't budged or gone down as sarah would say. there is a lot of muck to wave through and maybe it will be cleared up in november. >> tobi is it clear to you. >> you have tale of three 73s. staples is getting their lunchh eaten by amazon. and innovator like target and home depo doing well because they are north american facing . and then you have a company like mcdonalds and like deere that sells in europe having problems because europe is having problems. we cant make a global macro statement ba

. >> okay, gary b, i know you're toby's brother, kind of. >> everybody thinks he's my brother. >> you should be proud of that. and gary about: i had to wait until last. i wanted you to hit that high c. >> and i'm too relaxed today to hit the high c. i am he a making mental notes along the way and harry said the top 20% are doing well. i don't think there's even the top 20% are doing that well to be honest. susan, how can we say we've had over three years above 8% when obama clearly said we'd be at 6%, that's good news. that's the uber spin right there. i agree with jonas, we might be in this 8% and i hope we're not headed more toward europe, greece edging closer to 20% unemployment, but that may be the way. the bottom line, i don't think we're going to enter nor recession and it feels awful now, but we've been in kind of this awful mode for a while. i think in order for us to get worse, right now, housing prices would have to go into another slump, and flat line. and consumer spending would really have to drop off the cliff and that's flat line. unemployment would have to start gettin

special thanks to some of new friends, nancy w from antioch, gary k from martinez, and clyde b from pittsburglike abc-7 on facebook and one dollar will be donated to the sleep train campaign. >> a new skydiving record. >> 138 skydivers plunking at 220 miles-per-hour yesterday in illinois and did it while building the formation of a snow flake. >> ama: took 15 attempts to brain the previous record of 108 skydivers. >> that's it for us. le captioned by closed captioning services inc. Ñ/&Ñfñ!ñx1q1q the following is a paid advertisement for time life's music collection. ♪ chances are 'cause i wear a silly grin ♪ there are artists we'll always remember... ♪ mona lisa, mona lisa ♪ men have named you there are beautiful songs, words and memories that will always touch our hearts... ♪ it's impossible ♪ to tell the sun to leave the sky ♪ ♪ it's just impossible this is the music of your life. ♪ she wore blue velvet ♪ bluer than velvet was the night ♪ hi everyone, i'm peter marshall. you know, music is such an important part of our lives and i think it's because of all those special songs that have reac

gary b smith, tobin smith.ute, susan. welcome everybody. okay, harry, forget it a new recession, you think we can't get out of the first one. you have two economies, the households with middle and low income wages and part-time jobs instead of full-time. many are underwater in their mortgages and their unemployment rates are more like 9 0 -- 9 to 10% and the flip side. the college, they're gaining jobs and control about 85% of the financial assets outside of real estate and what the fed has been able to bubble back up with the artificial stimulus and we don't think it's going to lost. the top 20% are doing okay. shopping at guccis. most people feel like recession and never came out since 2009. >> okay, make the days for recovery. >> and we've had jobs created, a strong number and it's getting us up to a good place and 25% are manufacturing jobs and it doesn't happen overnight, but there's no denying that this is a good friend. and on the unemployment rate-- there is-- on the unemployment rate 22

gary: you know that you are inside conference stadium. still, it is photographed beautifully. . cruising along and eric one-nothing = kansas city. look out alex scored. parker and r bame in on the cord and single. for a bronze in five innings. a major slump. cris carter, good night. branded moss, sit down and that is it. five-nothing. oakland lost. they are behind tampa bay. and the wild card and the news is not inspiring. after he came over from the detroit tigers. this makes you feel bad. he is undergoing a second surgery. since april 2011, he became a national sensation when he pitched a perfect game on mother's day. however not much luck cents. >> the giants are bouncing back as we speak. baumgartner, washington in the 6th inning. troubles in boston. baseball is a religion there and everybody seems to want miniature ballantine. >> it is not true i am not trying to get fired, it is not true. if >>gary: the latest from the players saying that they leaked out some material that they are texting some of the ownership. they want ballantine, fired. many players staying that they know longer respect him. the red sox are just two games under 500. and if the 49ers have

activities that you hear from gary and jennifer and mayor stephanie rawlings-blake and ashley swearengin are on the front lines of making america and our city is this a place b- 1. why don't we give our panelists and a round of applause? [applause] thank you very much. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> in a few moments, republican presidential candidate mitt romney campaign to identify what. in half an hour, president obama campaigns in colorado. after that, if forum on so- called stand your ground lost. later, the conference of mayors discussion. >> on washington journal, tom mcmillen, a member of the nonpartisan group no labels. he will talk about the plan to change how congress operates. then the newt gingrich, the former house speaker will discuss the 2012 race, potential running mates for mitt romney and the debate over welfare reform. and a look at airline safety and last week's eric cantor out -- air traffic control error at reagan national airport. tabletop with the president and ceo of the flight safety -- we will talk with the president and ceo of the flight safety or