but i thought that the germany first strategy, germany is the principal enemy. germany has to be defeated first. and the defeat of japan would come soon afterwards, consequently. that this was, frankly, roosevelt idea. and he, and that he convinced american military planners staff officers, secret war planners, to go along with him. i learned, there's a chapter about this in the book, that this was not so. that the american military and staff planners thought the same thing. they did not have to be convinced by franklin roosevelt. and that was the right strategy, in spite of its relative unpopularity among the american people, you know. germany had to be defeated first. the defeat of japan is going to come soon afterwards, consequently. but you see, as i told you, germany, they thought the very end, the germans fought for seven or days even after berlin fell and hitler killed himself. i mean, this was an enormous thing. and i repeat to you, 80 million people, with resources, and does go resources that were much smaller than that of the russian and the american a

surpassed germany as the third largest economy in the world. >> that is correct, and germany today world'sond largest exporter of merchandise, the world's premier exporter of sophisticated manufacturers, it's a very important player in the world and particularly the world economy. >> charlie: is the euro-zone dead as an economic model? >> it's certainly not a model. >> charlie: fair enough. >> but what is true -- i think most people realize that it's not likely to go forward very much. the question is -- and this is the difficulty -- they have to hold onto what they have because going back there is a real danger that first the currency unravels, then the single market unravels and then the basic e.u. structure unravels. unravelling it, the bicycle theory again, you can't go back. the difficulty is where they are is no longer sustainable, that's the great lesson of the crisis because the idea in this project was that you could have a single currency and you didn't need a fiscal union, you didn't need a political union, you didn't need to do what they're now doing. now, the first crisis has

i think that the real enemy right how is germany. germany is rattling the saber. i think they make it very clear that they are the largest economy in europe. i think that they feel a little bit disturbed about the security of their currency. i think when you look at the history of this country, they have not acted too well when their currency is in threats. i think we have to watch germany. i think american investors especially do not understand the power that this economy wields. it's one of the top three economic powers on the plan either. i'll be interested seeing friday about some of the voting happening over there. i don't think that they really want to bail out anybody. they'll have to deal with greece. i think the spain stuff is just saber rattling. i don't think 18 bips going up on government bonds in spain mean as hill of beans. >> lou dobbs, welcome back to the program. you're always welcome here. but the germans don't like debt and they don't like inflation. it's very interesting. the most -- >> and they don't like an interference. >> they don't like pr

i did not know much about germany in the 19th century. and yet when i saw how both the united states and germany surpassed england, i was interested in how the germans had done this. and how different the united states's economic development and political development was from germany. here were two different paths toward capitalist leadership and excellence. different strengths, different leaders, truly different results. and that made me realize that because capitalism is a cultural system it has a different face in every country. >> explain the difference. >> the germans were struggling to create a nation -- depressions were struggling and that started out with the customs service and the use the economy to create this unity which they finally achieved for bismarck, prussia the largest of the 300 principalities and states that composed germany. and because they were built by aristocrats -- let me just back up. the aristocrats were not particularly interested in industry. they were interested in german prosperity but they had contempt fo

why is germany germany? they speak germany. switzerland is a longer story. they didn't have agreement there until after world war ii. it's a powerful unifying force. in china, there was an emperor, first emperor of china, some somebody out there is going to cringe, but the first emperor of china, actually about 245 b.c. is when he lived and look at that vast area of china and there were 300 some languages that were spoken and separate provinces and weren't unified. he looked around and said these are similar people, they look the same. they don't look the same. they look the same and similar ethnic background by looks and decided he wanted to unify the chinese people so he hired some subscribes to -- scribse to produce the language. and they are common to the chinese and 5,000 characters. i mean that's why it's picture writing. the people he hired are intellectuals. they decided how to make sense. they do pictures and now we have the chinese language and the goal to unify people is effective. he is the one who unified or standardized the axels on the ox cart

, how could hitler have invaded germany. he had poland and he had an ally in hungry. he had an ally in slovakia. and an ally in spain and portugal. in other words, he's surrounded by friendly countries. so i think there might not have been a world war ii. >> host: well, you do write in "churchill, hitler, and the unnecessary war" one short sentence that world war ii was a just war. >> guest: there's no doubt it was just. was it necessary. no i don't believe it was necessary. it came -- that's hitler -- excuse me, not hitler's -- the phrase is winston churchill's. and fdr says what shall we call this war? and churchill says why don't we call it the unnecessary war because there never was a war that was more easily prevented than the one we're in right now. and my view the fatal mistake was with the british giving the war guarantee to poland. people say what should they have done very simple? they should have formed a solemn alliance with france. sent troops to france. drawn a40 line in front of belgm and france and defended t

germany as well. it has a lot of savings that have to go somewhere that goes to countries like the u.s., which spends more than it is taking any tax revenues. line.independent-mi caller: we have some countries, especially the former french colonies, and those countries are tied to the french franc, which is no longer in use. i would like your guest to comment on how the current economic situation will affect the african economy. guest: i am not sure i'm necessarily the right person to talk about africa and economics, but certainly the frenches tied to the franc, that is tied to the euro. if that it's cheaper, the rest zone will be happy. some of the economies seem to be getting better, although you cannot lump them together the way you can in europe. nigeria is interesting at the moment because it has a new president who was taken after the previous president was suffering illness. nigeria, for instance, appears to be on the up but as far as general view of africa, i am not sure we can really do that

he left germany. hitler was not a benign figure.nd you will not find that anywhere in my writings or in my book. i'm not saying that hitler was a benign figure. i'm saying that if you look at hitler's basic ambition, what he wanted to do, certainly even a gp taylor who was a historian who i find fairly influential and certainly influenced my thinking is if you take a look at hitler after the breakup of czechoslovakia, it's very much consistent with german state policy. if you take a look at the end of world war i, take a look at where the kaiser's armies were before they surrender after 1918. the lance hitler were seeking eventually even in the east were last where the german army had gone and world war i. so again i don't consider hitler a benign figure. i think you was a very malevolent character. and he turned genocidal. but i still think is for little ambitions or strategic ambitions as of 1938-39, i think he saw the world as germany, and europe, the british empire and the world, americans in the western hemisphere and japan in

it's also germany.s in germany, the public in germany, very unhappy about the idea that they have to pay for somebody else -- >> have they thought things through? do they think a bankruptcy of the entire country would be a better way to go at this point? or do they just think they're going to continue to get -- >> some of the angry people have said, look. the medicine will kill the patient. the medicine is worse than the disease at this point. >> but if you don't -- if you don't have the death service to keep paying for all the services -- >> but the case may be if you're talking about the severe cuts they're going to be taking -- >> do you kill aggregate demand because -- >> although if you looked at some of the benefits they get, a lot of people there are allowed to retire at age 45. >> no doubt. >> they need to leave the eu, then. what do they have, drakmas or something? >> they used to. the only way to get your way out of a problem like that is deflate your currency. like when it's a euro that you'r

germany is going to just -- in sympathy go down. lot of german companies, they are big exporters and have more exposure internationally than a lot of u.s. companies do. you mentioned china slowing but it is going from 12% -- 12 to ten. we think they benefit. chinese that own a lot of euros trying to figure out which european assets to keep the euros in and german assets are -- at least money good. i mean, they v haven't defaulted in a long time. >> we are going to leave it there. >> nobody panicked. it is -- you know, looking for one of you to jump out the window. you are in solid grounds. overdone here. >> thanks so much. >> thanks. >> jim, you are not going anywhere. >> i wouldn't think of. >> it you are here for the whole hour. >> i'm looking at the charts, doing reading and catching up on interviews. >> good. coming up next, your prescription here. your prescription for panic. wear going to continue to cover this market. >> more of a mussling relaxer. >> that's a good way to put. >> it what role does the dollar have in the sell-

so germany's economy is doing quite well, actually. what i fear is that maybe at six or nine months down the road, but at some point germany is going to require higher interest rates. higher interest rates at the e. c. b., european central bank, went down that road would be a nail in the coffin for places like greece. so that dichotomy i think is going to be a big stress and probably end up pulling the euro lower. >> tom: back oh the dollar, it may look strong against the euro, but what about other currencys out there? is the dollar strengthening? >> that's a great question. everyone looks at the euro, dollar and say a is the dollar, but it's far from it. the euro is about 18% of the trade weight of the dollar. the dollar against all the countrys that the united states trades with. and when you look at a broader picture of the u.s. dollar today, it actually flat to slightly lower. so the dollar is strengthening against the you're row and the japanese yen, but it's weakening against most other currencys in the world, especially commodit

and germany plays an important role in all of this. you know, the up shot could be that we're prepared for stagnation depending on what's happening with the outcome of this dead crisis. it brings into play the prospect of monetary union in its current format being completely changed. we can't disregard those scenarios, i think. >> neil, this is christine here. we talk about stagflation, default, do you think china will use all of these reasons as an excuse to delay any currency reform? >> well, i think the weakness in the euro is certainly a factor here. i think that china, chinese authorities don't seem to be that keen on any drastic revalue iegz of the currency. i think the best we can hope for is a modest revaluation. and i think that, you know, for china, the economy has been pretty strong. chinese authorities correctly have been implementing measures to try and cool down hot spots in the property market. but i think the underlying picture is still pretty good. global car production is up nearly 60% year on year in the first quarte

germany, whether or not they pass the package. a major election of course over the weekend in germany. and politics there. and you still need the imf to approve it also over the weekend. even with that, then, will greece actually follow throughane deliver on the very severe cutbacks that will it need and will that be credible? major question marks on that too. >> well, that's the thing. >> i agree major risks coming up. >> yeah, let me get both of your takes on what the european central bank jean-claude trichet said today, saying willing to take greek government bonds as collateral regardless of their credit ranking. is this further evidence to the market that the european union is not in sync? i mean you know, part of -- i mean does germany really want to be the backstop here because that's what it looks like. >> we think it's a sign of desperation on their part. they realize that, should this condition continue to increase, continue to deteriorate, the euro remain under pressure and put the entire union under pressure so i think

germany and it still hasn't signed off germany on the greek rescue plan. will it be prepared to fund a rescue plan for spain or portugal. does that mean the country are off on their own at the moment without the backing of the euro zone or will the ecb and all about having an impact on the euro today. you have been mentioning 1.3040 is where we're trading at the moment. there's a lot of options activity just below that level. let me just quickly show you the banks. ubs out with good numbers and big exposure to greece out tomorrow down to 5.7%. guys, back over to you. >>> indices here in the united states, of course, following europe. did a little better after europe started to close. the question is, whether or not this is the beginning of what some are calling for that 10% or 15% correction.ç let's talk about that and take a look at the volatility right now in this market. we're watching the vix index very closely. it's up almost 21% at 24.38, the last trade on that particular index. let's talk to our insiders and find out how perhaps you can protect you

in germany you have to work until you're 65 minimum and in greece you don't. if you're a german worker, you are being asked to put up money for people who retire earlier than you and put up pensions. >> you talk about volatility earlier and the challenge is, what are our expectations for european economic growth and the implication for earnings. historically since world war ii the u.s. has been a huge investor in europe and as europe restrains itself and cuts its spending and raises taxes and all of a sudden that slower economic growth expectation impacts. >> are. >>> the markets vastly overreacting to a greece or portugal threat? greece has a gdp the size of connecticut. if connecticut went bust on the state bonds i don't think the u.s. economy should topple nor do i think europe needs to topple because greece or portugal has a problem. >> they're extrapulating to all the euro area. >> 16 of the 27. >> so, if you were an investor, david and john, you know, and you're sitting at home and you're saying, why should i really, not why should i care, but what are t

did you go to germany and learn about the coalition there? >> i talked with chancellor merkel yesterday about european policy and about coalitions, where she is something of an expert. we have reached an agreement on a common position on european policy and it is set out in the document. there are differences in that area. we have not hidden them. we have confronted and resolved them. that is a little test that we're serious in our endeavor to provide this good government. it sets out very clearly what we in to do. -- aim to do. >> back in 2004 -- this is a question for deputy prime minister clegg -- there was a large act about deregulation. as a policy change and if so, why -- has the policy changed and, if so, why? >> the policy has changed dramatically. the economy is being dealt hammer blows. we need to rebuild the of public finances -and the british public- the public finances and the british public -- we need to rebuild the public finances and create new ideas about new forms of growth investment -- growth, investment, and innovation. w

comparing this to nazi germany is appalling. >> host: norm, pet lym ma, california.isagree with almost everything mr. buchanan beliefs but totally enjoy listening imto him. he went 4f in the military because of a bad knee, and shortly thereafter became the profit the white house running team. >> guest: the white house running team i was captain of was in 1985-'86. i was not 4f during vietnam. i was in the army rotc from 1956 to october 1959. i was going to be a commissioned officer in the u.s. army in 1960. as we mentioned, i was expelled from college, and when i was, i was -- got my draft notice, and i went over to walter reed and i had arthritis in the legs, and so i was 4fed there. that was five years before vietnam's buildup took place, which was 1965, at which time i was 27 years old and beyond draft age. so there was no draft evasion. >> host: you were able to run in 1985? >> guest: yaw, -- yeah. i can still run. but you have other problems with the knee you can't move left to right. and you have had arthritis when i was in the nixon white house and elsewhere.

. -- held germany's growth to a modest percentage. the markets in the germany brought an-into dismal trading week. -- a negative end to a dismal trading week. >> countries have to consolidate. there have been concerned about the negative effects on the pressure on the dax. there have been speculations about central banking interference. it dropped to historic lows. >> we can stay and look at friday's numbers and the blue- chip dax index, finishing friday up at 5829. to 2574. stoxx 50 rose a the dow industrials finished at 10193.s10,99 workers at a german automaker have agreed to take certain kinds in order to keep the company afloat and help save their jobs. they have also agreed to delay a planned pay increase. the employees would be receiving shares in return for that agreement. they are receiving about 1 billion year rose in subsidies to keep the car maker going. -- 1 billion euors in subsidies to keep the car maker going. they are saving at the highest rate in 17 years according to the federal statistics office, setting aside more

germany agreed to supply nearly $30 billion over three years, part of a larger, international bailout totaling $145 billion. the germans had held back on helping greece, but chancellor angela merkel said it is time for action. >> this reaction with a law does not only mean that we assist greece, but it will also help the stabilization of the euro as a whole and, therefore, help the people of germany, because a stable european currency is extraordinarily important. >> sreenivasan: germany made its move after greece agreed on sunday to deep new cuts in public spending. april was kind to automakers in the u.s. ford and chrysler reported sales were up 25% from a year ago. toyota was up 24%. and general motors sales rose about 6.5%. despite the gains, sales were actually much slower than in march, when incentives attracted buyers in droves. wall street rallied on upbeat reports about consumer spending and factory activity. the dow jones industrial average gained 143 points to close above 11,151. the nasdaq rose 37 points to close at 2498. actress lynn redgrave died today after fighting bre

this is what germany wanted and parliament in berlin has approved the german contribution to the rescue package. ben shore reports. >> the shock waves from athens are being felt in berlin and also in the capital of the european union, brussels. the vote today by german politicians authorizes $185 billion worth of loan guarantees to any euro zone member which is struggling to raise money on the international markets. it forms part of a bigger $550 billion facility designed to support the ailing currency bloc. >> it is a very important day for the german parliament today as well, and i'm happy that we managed to get a package for stabilizing the euro. it was approved. it is very important that the factions of the government show a very clear sign what to do with regard to stabilization. >> the votes in berlin is a positive signal that germany is committed to helping europe get out of this debt crisis. here in brussels, finance ministers are trying to work out how to make sure it never gets to that stage again. the idea was to have a brainstorming session on how the they can punish those t

germany, japan, u.k., you name it, we're the only one not facing their demographic problems and one the reasons, not the only one, but a big reason is immigration, legal and illegal. >> brenda: eric ten seconds. >> let's not forget the wage, actually put downward precious on wages, illegals will take less than legals. >> brenda: david you can have the last word, no. that's the last word. >> i just think-- >> no, you can't do that. one word, thanks, guys and thank you, david for joining us. >> thank you. >> brenda: before you whack it, read it. >> have you read the arizona law? >> i have not had a chance to, i've glanced at it, i've not read it. >> brenda: a stunning admission from the u.s. attorney general, the one company that could have helped him read all 15 pages and the name preventing future oil spills while helping you clean up with one stock. ♪ we created our college of business and management... after collaborating with business leaders. we wanted our curriculum to match market needs, preparing you for today's most sought-after careers. in fact, we have not one but five special

guest: germany is growing. that is good news for europe. these external conditions are becoming favorable. the bad news is greece and spain and portugal do not have an exchange rate vis-a-vis germany. to achieve that, they must have massive wage cuts and price cuts. that is a very expensive way of achieving competitiveness. unless spain and portugal can grow, it will not work. host: we are taking your calls. minnesota, democrats line. caller: good morning and thanks for taking my call. is the imf, who finds it? -- funds it? >> it is funded by countries around the world. it is like a credit union. each of these countries put in money. the amount of money depends on the size. the u.s. is the world's biggest economy, so it puts in the most amount of money, about 17%. every country, europe, china, brazil, europe, everyone contributes. that money is lent out to countries that are in trouble like it is now doing to greece. host: florida, republican line. caller: the united states help the economies of germany and japan and china's development wit

german -- germany barely spends to% of its gdp on defense. i think they punch under their weight in terms of military power. i have more concerns about germany's role within the european union. the eu is traditionally dominated by germany and france. britain tries to balance that power. i think it is important that britain does not surrender any further powers to the european union. it is not right that politicians in berlin, paris, or brussels, beside british policy. that is completely unacceptable. polling shows the vast majority of a british people are fundamentally against having british laws decided by brussels, and opposed to any efforts by the governments in germany and france to try to flex muscle over british policy. on the point of a military superpower in germany, i do not think that will ever happen again. i think germany has learned its lesson. host: next up is david in mclean, virginia. our line for democrats. caller: i have two brief comments and a question. i think his type of organizations are poisoning the political climate.

new york the first thing they had to do was go by a sleeping bags and warm jackets and drove from germany all the way to afghanistan they didn't go anywhere near india because they heard that was the cheapest and best quality of hashish was from. that opened the line of brother after brother after brother wanted to out do those that have come before them. and they were the biggest hashish smuggling network in the country. at this point* is when spreading out of control very quickly the crucial factor was leary himself and john craig's had revered him as a spiritual mentor and he had convinced him to leave the commune in upstate new york behind and come out to california. they were hoping with all of the cash they were smuggling they could buy an island in the tropics and truly drop out of society and convince leary to come with them and be the grew ruutu never deal with the rest of the world. not surprising to anybody with leary and his taste of celebrity he had no interest at all. [laughter] instead they settled for a ranch high a in the mountains near palm springs but most of the brothe

germany shares $30 billion. germany's chancellor angela merkel approved the move after weeks of delay. >> this reaction to a law does not only mean but will also help the stableation of the euro as a whole and therefore hep the people of germany because a stable european currency is extraordinarily important. >> reporter: nearly $400 billion in the red and less than three weeks from default, the greek government felt it had no choice. but the price is stiff. tax hikes and $40 billion in budget cuts through 2012 that will hit pensions and public salaries hard. >> the international monetary fund came to control us like a new dictator who every three months will be seeking to suck our blood. >> reporter: 4,000 teachers and students marched past parliament today. some threw stones at riot police who fired back with pepper spray. state employees at airports, schools and hospitals didn't show up for work and a general strike was called for wednesday. still, the greek parliament took up the austerity measures with a vo

to compare this to nazi germany is appalling. >> host: question, mr. buchanan, during the vietnam war for a bad knee, shortly thereafter became the captain of the white house running teen. how is that? >> guest: he has truncated a lot of things. there was only one thing as capital of and 1985 -- 86. i was not, i was in the rotc to october, november 1989. i was going to be a commissioned officer in the u.s. army in 1960. as we mentioned i was expelled from college, and when i was i got my draft notice and i went over to walter reed, and that arthritis in the legs and so i was four f. for that. that was five years before the announced build up which was 1965, at which time i was 27 is old and beyond draft age in any event. so no, there was no draft evasion. >> host: and you are able to run do? >> guest: i can still run. i could run then. but when you have other with me that you can't move left to right, and you have had arthritis with it. >> host: speaking of former, daniel, hero or traitor? i've had argument with daniel. i think what daniel did, and i'm

alexander and his russian team will play in the finals of the hockey championship after defeating germanyill play the checks in the title game. >> someday we will learn why. >> i will explain it to you one da >> it looks like the worst of it is over with for the time being. we have temperatures tomorrow in the mid 70's. look at tuesday. in warmer temperatures by tuesday. >> you are making huge promises for the weather. >> you are making huge promises for the weather.

well known lead singer of u2 underwent back surgery in munic, germany.was preparing for a tour on june 3rd and he actually injured while preparing for the trip and the manager says that the june 3rd show is postponed and there's no word on if other shows are canceled. >> his spokesperson says he'll be in the hospital for a few days before returning home >>> in this health watch report, this killer can take children and adults in the prime of life. one family's fighting back and making the history books. >> reporter: for this 46-year- old, it's been a lifetime of doctors and drugs and devices to keep her heart pumping. any problems with chest pain. >> reporter: she's one of the oldest living survivers of the cardiac arrest, almost diagnose at age 12 and she has the heart disease. and she lost two brothers at 12 and 14 and her dad's 3-year-old sister also died and an implanted pump is keeping her alive. >> how does the family get through something like this. >> i think that a lot of faith. >> reporter: it's genetic and death comes often before the victim h

the market was up things to germany's plan to contain the debt problem. the bigger question is, can average americans handle this chaos? >> i will change to a money- market fund something. i am not going to ride it out last time. i lost quite a bit of money, and i am not going to do it again. >> that is the nature of an economy. things got so good that we the used to it. everything has to correct itself, fix itself, and that is what is doing. >> i have small children, so i'm just trying to take care of everything. >> research shows that thursday's and friday's proved to be bad days. if you hold tight until monday, most investors start the week ready to buy. experts are warning average investors to pat -- to fasten their seat belts. it means a dizzying drops and steep climbs could be the new normal. >>> at the white house says president obama has spoken to a number of candidates to fill the director of national intelligence job. the associated press reports that the candidate announced his resignation yesterday. the pentagon goes a top intelligence officia

a fair point with the elections going on, in britain and germany. we asked this question now, how do you trade what's going on in europe? there's a debt bomb explosion, obviously perhaps using bigger words than we should. let's bring in martin biggs. returned about 38%, three times hedge fund industry average. also, a former chief global strategist for morgan stanley where he spent three decades. mr. biggs, thank you for being with us. someone this morning said to mark haines and myself, the courageous thing to do right now would be to go into bonds, because people think that's a terrible place to be. you have even a perhaps more courageous call, and that would be europe. >> erin, with respect and admiration, can i say to you that i never said that anybody should buy europe. what i said was that europe was undervalued and unloved. and it still is undervalued and unloved. and after the last couple of weeks it's probably now oversold. but europe is in the grips of a really serious sovereign debt crisis. >> you said in your column in "newsweek" europe

and after that is done, a group, such as the united states, france, germany, japan, italy, other countries like that, australia, will then impose individual, tougher sangs, and those are the sanctions that would be the quote, unquote, cripple sanctions that clinton said last year. >> secretary of state clinton used that "with all due respect to my friends" it seems the u.s. was not happy with that agreement. >> that's right. and neither were the chinese or the russians, to be frank. this agreement was negotiated over the weekend and through yesterday, and they essentially regarded what the turks and the brazilians did as a side show. not something serious, and not something that anyone could take to the bank, but it does complicate matters because we have the turkish president and the president in tea in tehran. and you have susan rice saying brazil will not engage in this resolution. that raises the possibility that you will actually end up with some no votes when they try to press forward with this resolution. and that hasn't happened before on a sanctions resolution regarding iran. and

now the problem may be taking on a european context, with anxious community is in germany pricing themselves for a flood waiive. >> australia is expelling an israeli diplomat. four australian passports were for urged link to a murder -- they were forged. >> one man was killed by what the authorities are 99% sure was a hit team from an israeli source. it merged with four australian forged passports. they were the victims of identity theft. following an investigation by the federal australian police which visited israel, there was no doubt israel was behind the counterfeiting of the passports. as a result, the foreign affairs minister asked israel to withdraw as diplomats. >> this constitutes a direct breach of confidential undertakings between australia and israel. this is not what we expect from a nation we have had a supportive relationship with. >> australia and israel have been close allies. the government said it enacted out of sorrow. >> we regret that this incident has occurred. renown need to rebuild the confidence and trust -- we now need to rebuild. >> we regret this decision by the

it happened as he was exiting a hotel in germany.ey were mushing the revolving door and smacking his head in to the glass. >> that's embarrassing, too. >> is that a little acting. >> i don't think so. >> you think that is authentic reaction. >> if you go to a revolving door with me, my favorite thing to do is stop it so be careful. >> it's not nice. >> it's what i do in the family. they are used to it. >> note to self. >>> we are looking at a 5 -- 50/50 weekend. the next three days primarily late shower or thunderstorm tomorrow. first half will be okay. clouds come in. temperatures in the upper 70s. and the primarily showers on sunday. cooler in the low 70s. and then showers could occur anytime on monday. temperatures in the upper 70s tonight, partly cloudy, comfortable. 58 to 64. winds from the south southeast at ten. there will be some clouds tonight. tomorrow morning, partly sunny and mild. 60s and 70s. winds from the south at ten. by afternoon, call it mostly cloudy. a shower or thunderstorm possible. again, not everyone will see

the premium between spain's ten-year and germany's ten-year never has been larger.with that, i'll send it back to mark haines. >> all right. thank you very much, david faber. a quick check on the markets. actually, not quite as bad as we feared, given -- well, actually, yeah, it is. sorry. dow is down 85 points. the s&ps, where the futures were down 14, the cash is down 13. so, about what we expected, given the discount on fair value. nasdaq composite really getting hit again, down almost 40 points. >>> let's get the early tick. joining us now, neil hennessey of hennessy funds and barry james, james funds and co-manager of the james balance golden rainbow fund. i'll start with barry. is this decline on the greek situation a golden rainbow of a buying opportunity? >> not yet, mark. as we see the market's been in a topping phase since january, and there's still way too much bullishness in the market. 36% more bulls than bears. a lot more money going into the bullish types of funds rather than the bearish funds. the volatility index had been very, very low for some tim

with anxious communities in germany and bracing themselves ive.a flood wai >> how about a garden sparkling with gems worth $30 million? that is one of the attractions at the chelsea flower show. ♪ ♪ >> no matter how hard the winter, he chelsea's flowers always manage to be perfect. hear, they have rebuilt an entire canal. this one has diamonds in it. also this year [unintelligible] >> it probably comes to 500 pounds for the whole garden. >> i met him tending his nettels in this big garden. it is not typical of chelsey, but he and his workers are not typical designers. >> five years ago i was living on the streets. i was basically dying on the streets. now i am building a garden with my team feeling wonderful. >> perhaps not the prettiest flour had a new name. it was a celebration of biodiversity in the his commitment to charities. this is immortality to have a plant and after you. >> it doesn't get better than that. >> next door, a champion of healthy eating. >> there is nothing wrong with having parts of the garden that are edible and as near to the kitchen as possible. >> it is an attemp

. >>> bono is hospitalized in germany. the manager of u 2 said the group front man underwent emergency back surgery. he was injured in munich. the first show was to be in salt lake city and that has been postponed and the rest of the dates are still being decided. >>> it is said he never told a lie but george washington was not prompt about returning library books. the books had been overdue for 221 years. person who signed them out was none other than the first president of the united states. the overdue fees were calculated at $300. good luck collecting. >> but would turned them in? >> i don't know. who is a historic book. >> maybe he's not dead. >>> katie curic has a preview of what is coming up tonight on the cbs evening news. >> how -- some parent patients are moving to a new beat tonight on the cbs evening news. >>> and here is ,,,,,,,,,,,,,,,, >>> a warm and slightly sunny friday evening. how long will it last? bob will update the forecast. but first tim williams is out back. >> reporter: you can tell when it is nic

he is serving two life sentences but in germany, he could be released within two years. the decision to approve or deny a proposed transfer is committed to the discretion of the department of justice. i understand that the seriousness of the offense and the potential public outrage of transfer are factors that the department considers in its value in such transfers. i can attest to you that these crimes were heinous a the public outrage about about the potential transfer is extremely high. i have been contacted by many constituents citing opposition including some involved in the original case. i forward it to you a letter signed by 75 of the 100 members of the house of delegates opposing this transfer. the letter was signed by republicans, democrats, and independence, i like. -- an independents, alike. >> i would agree but those were heinous and ry serious crimes. -- that those were very heinous and serious crimes. whether or not the recission by the governor of what the previous governor did is in fact going to be upheld by the courts in virginia. until that determinat

. >> larry: before we get to some major social issues, what was that poison story in germany?we were in germany for the g-and i got sick. i was the first one sick. and then george got sick. and what we got was a sort of vertigo. but i felt. >> larry: same dinner? >> well, we didn't really get sick at a dinner. i got sick one day, and the next morning george woke up and felt sick. so the secret service with an abundance of caution and the people that were there, other security people started to look at all the food, including the european press was very fascinated with it. what happened, what we decide, what the doctors decided was that we had all gotten a virus that attacks a nerve very close to the inner ear. so you had the symptoms of vertigo and nausea and other symptoms you would have if you had an inner ear poison. >> larry: you were not poisoned. >> we were not poisoned. you'll be glad to know yes weren't there was high speculation because there had just been those high-profile poisonings in europe. >> larry: vertigo would drive you nuts. lose your balance gay marriage.

they've created an entire cottage industry of sellers who are now afraid of france, holland, germany. hey, why don't we throw in luxembourg? how about the azores? scotland. good scotch. switzerland. monaco. where prince albert's in a can and they'd better let him out. with the potential sovereign debt downgrade in spain, zapatero, the country's prime minister, has replaced zorro as the nemesis of the establishment. and we're all acting like sergeant garcia! there. anyway. i say viva zapatero. a darn good movie. it still holds up. although not as good as brando's work in "one eyed jacks." then there's the mining tax in australia. oh, man, is that ever scary. they might as well tax hedge funds given how many managers own these australian natural resource companies. fourth item on the buffet, the decline in the price of oil. back to where it was causing -- >> sell sell sell sell. >> -- a repeal of that sector's parabolic move, which is serious given the fact the group makes up 12% of the s&p. fifth, we've learned that washington is about to turn the banks into a bunch of bailey building

. >> the vote in berlin as a positive signal -- is a positive signal that germany is committed to help. finance ministers are trying to work out so that it never gets to that stage again. >> the idea was to have a brainstorming session on how to monitor the economies of individual states and punish those that rack up too much debt. >> one of the conclusions of the debate is that it was very clear that there is a broad consensus on the principles of having sanctions, financial sanctions. >> one of the proposals by the commission is to organize a scoreboard. i suggest that it also be a tool box so that member states to have access to what others have been doing. it will take what it will take. we need to be part of the same club and apply the same rules, narrowing the competitive discount. >> of the things we can do best in the framework of the current framework, we will look to do it quickly. in the future, we will look at issues that require an amendment of the treaty. first, we will do what we can without changes. we will do that independently. we will be very pragmatic and goal orien

yeah, banned recently in germany for some government debts, and things like that. so, those two issues that our viewer points out, very important as well. moving on to our final e-mail. this from keith. well i think there are real fears going on in this market. with regard to the euro debt crisis and how it's going to affect u.s. financial markets. and our economy. and even the federal reserve in its recent minutes said that it is in fact concern that the europe debt crisis will in fact affect both of our financial markets and actually slow down our economic recovery. yeah, keith sounds a little bullish. and we have spoken with plenty of bears on the show. well, you know what, michael morcos was just on the show here. he's actually bullish. he thinks that long term, this is a great opportunity to buy stocks. although, he does admit that there is still a lot of fear from europe. so keep that in mind. thank you so much for sending us your e-mail's. keep them coming. and as always we want to hear from you, so you can call us as well (312) 660- 8397. or you can send yo