eighty years before the great depression a lot of the civil war years before that the great depression of the seventy's sixty's that would do to the american revolution are we on. the verge of another fourth turning of another major crash that could lead to a world war worldwide depression well i you know i hope it won't be bad i hope it will be destructive will be will be. will be avoided to the extent possible in the construct of which always comes out of a fourth turning of the normally constructive era will be maximized but clearly go i know because there are all their leadership are those born after the last crisis right just i don't know if they don't remember it and they would know about this but the historian or not i don't know it's going to be called the great trigger of the long cycle of war is that a foreign ministry those who start the next two or are just too young to remember the last one right or the crisis for that matter so this is the lineup we have we are actually date before the turning starting in two thousand and eight we think we will look back and say that real

and so i don't think it's going to be as bad as, you know, the great depression evidence of people who just never invest in the stock market again. but, you know, hopefully people are going to be a little more responsible about that decision. >> we can only hope. jim carr from the national community reinvestment coalition, communities need the housing market to recover. state and local governments, they're expected to shed more than 100,000 jobs in the third quarter. without the property tax revenues they can't fund operations. communities are facing an uphill battle here if people can't buy homes, jim. >> right. well you're absolutely right. and the problem is not is if the somehow things are leveling out. we're on route to another 2 million foreclosures this year and probably have at least another 2 million in the pipeline on top of that. and so despite the good news that you talked about earlier at the top of the show, the reality of it is that the more likelihood is that home prices are going to continue to slide through the end of this year. one good note is nice, but it doesn't m

then went on to point out who was to blame really to blame for the great depression . but money paying one. hundred feet in the middle of a. company. meanwhile today the having a post is reporting that the obama administration is about to cut a deal with wall street banks toure's where they pay thirty billion in fines nobody goes to jail nobody mentioned that today's press conference but here's f.d.r.'s final recommendation from the day he took office as president in one nine hundred thirty three. and finally in our progress the resumption of what. we require to say. they would make even the bill. them up be a quick. banking and credit and then punishment. a similar amount of money so mr president president obama please look at american history the good cop bad cop routine the danger in cancer a plane on you is as old as time and you should stop buying it there is no republican santa claus just like there's no confidence fairy and the american people will only rally behind you if you ask them to it work for f.d.r. and it can work for you too if you'll try it. as the bi

and owned stocks, people who owned stocks in the great depression and lost all their savings, invested less in stocks for the rest of their lives. so there is a little bit of, you know, risk i think that some of the people that have been really burned in housing will sort of think they just don't want to own a home for a long time. there's a big but there, which is at the same time, you know, owning a home is really a sign of financial stability. if you're able to do it. so, i don't think it's going to be as bad as, you know, the great depression evidence of people who just never invested in the stock market again. but hopefully people will be more responsible about that decision. >> we can only hope. jim carr, communities need the housing market to recover. state and local government, they are expected to shed more than 100,000 jobs in the third quarter. without those property tax revenues they can't fund operations. communities are facing an uphill battle if people can't buy homes, jim. >> right. you're absolutely right. the problem is not as if somehow things are leveling out. we're

actually i'd say it's the reagan great depression because thirty years a trickle down reagan only created twenty five million jobs that was terrible it really was the year i was only five million off the point is that if we want to to stimulate the economy put money in workers' pockets they will spend it it will create demand raise the minimum wage you will still stimulate the economy except for those people whose labor is worth less than the minimum wage they'll just be out of work and that's why we've said to those people you're saying oh you know your labor is worth less than seven dollars an hour screw you know i'm saying i want you to get started going to work for it i want to build up skills i want to move up that ladder i don't get three thirty at home i want people to get their start i don't want to freeze people out with an artificial at the age of forty what about people who are three you know mcdonald's was running a help wanted they had a thirty thousand jobs if they were hiring a million people showed up are you going to say to those people i hate you know coming mexico very

during the great depression and we eventually got out of the great depression so i would see where you can see whether the united states is going to collapse but many people including you and you and i think every thinking person is concerned about the future of the united states today what might a collapse look like if it were to happen to american society. what might a collapse look like if it happened to american society we can think of a variety of scenarios beginning with the worst and going to gentle it was the worst the worst scenario would be a nuclear war in which civilization was wiped out and most people were killed and the people left alive would be my friends in the highlands of new guinea who recently were using stone tools and can figure out how to use stone tools again so that would be a grass to collapse. a gentle a collapse would be conditions such as those we see today on the island of haiti and somalia gradually spreading somalia now does not have a functioning state government haiti has a marginally functioning state government it's possible that those conditions o

the worst financial crisis and the worst recession we've seen since the great depression. and although some progress has been made, there's no doubt that this economy has not recovered as fast as it needs to. and the truth is, it's going to take more time, because a lot of the problems that we're facing right now, slow job growth, stagnant wages, those were there even before the recession hit. for a decade, the average wage, the average income of the american worker had flat lined. those at the very top saw their incomes going up 50%, 100%, but those in the middle, the vast majority of americans, they had been struggling to keep up before the recession hit. and so these challenges weren't caused overnight, they're not going to be solved overnight. but as john f. kennedy once said, our problems are man made. therefore, they can be solved by man. in the united states, we control our own destiny. the question we have to answer, though, is where do we want to go? what's our vision for the future, and how do we get there? now, in the short term, i've been urging congress to pas

the middle class of america out of seventeen trillion dollars and plunged our nation into a great depression today one of those crimes is now resolved while the other is still festering as an eighteen wound in the side of our american legal justice and legal justice system yesterday casey anthony the mother of that little two year old girl caylee who guide three years ago was found not guilty by a jury of her peers closing the book on a three year long saga that's gripped america here's some of the reactions of people around the country to the verdict. i'm shocked and i'm absolutely shocked. personally i think the whole family is guilty if. i think she got away with it at least. manslaughter yes murder i can't be sure that's a pretty harsh crime it's crazy and i paid them when a does being a mother you know inhabit it and never went down there i don't think any mother around here really wants you know they're going to be in a different state of mind if you lose your theater something's missing if anything even if you say your make believe babysitter something to come i mean you're searching

well it was pretty bad during the great depression is a bottom that we can compare it to i don't know if we'll get that bad but i don't think we're there yet so do you think we can fix it i'm a global level or do you think it's time countries started looking at themselves first. i think we have to fix it on the global but i think we reach country have to lower the expectations of the living standard i think we all have to go don't whether or not you've been personally impacted the bottom line is the global economy apparently continues to fall flat. now despite all of the dead to economic woes the united states still has the most expensive health care system in the world yet fewer americans can afford it for reasons you don't need need to explain more people are getting sick and people are getting poorer but health insurance companies are getting richer you don't have to believe me let's look at some facts about health care costs in the us between two thousand and two thousand and six wages in the us increased by just three point eight percent that green line pretty flat lined almost b

in fact, greenspan and bernanke and others said a greater shock than the great depression. now, the president acted, took a lot of political risk, did very unpopular things, but the economy started growing again within six months. we've had more than 2 million jobs created in the private sector since job growth resumed again. america is in a stronger position today, but we're not growing fast enough. >> you're certainly not disputing those numbers, and this is what happened with the jobs report this week. "the new york times" described it this way -- "feeble job numbers show recovery starting to stall. for the second consecutive month, employers added scarcely any jobs in june, startling evidence that the economy recovery is stumbling." basically, what you're saying is it could have been a lot worse. has the economy stalled? >> the economy absolutely slowed in first half of the year, no doubt about that. when the economy slows, job creation will slow and that's what's happening. it slowed because, as you know, gas prices went up a lot because we had a supply disruption in t

this company is a great place in order to capitalize off the depressed real estate market.year. >> when you're an investor, it is not just about what's on the menu, it is about what is on the books and what management decisions are happening. is there a fund offering investors a mix? >> i like pbj. a great way to have a diversified cost effective way to get great exposure to a strong industry. 5% holdings with mcdonald's, 5% holdings in young brands and pepsi and starbucks. it is a great way -- pbj is not just the name of my favorite sandwich, but a good, cost effective diversified exposure. >> this one is up 32% over the past year. pa nairia, up 70%, chipotle up 107%. you buy them here, wait for a pullback, signs of strength they will continue or maybe the move already happened? >> for these individual stocks -- >> buy and hold stocks? >> over the next year or so, i wouldn't expect a whole lot of good movement for a year or less. for four and five plus years, i would think that in my estimation, i think they'll have a stock split in the next year or next five years with al

common throughout the city, and they were built as part of the stimulus package following the great depression. it is known as the noriega wall, the leavenworth wall. they were well engineered. at that time, because of the depression, they really gave 100% to the work they were doing. even today, these walls, there is very little movement in these walls, they are performing well. you can check them against earthquake loads, there are more than adequate to resist any earthquake load that you can throw at them. i applaud the results of that stimulus package. >> this particular slide illustrates a bunch of things. one, the hill seemed beyond going down after the lower roadway, goes down quite steeply to pastry -- to bay street and soon thereafter hits the point where there is artificial fill. so you can see dramatically the naturally occurring landforms and the filled terrace. this was also interesting in that you can see alcatraz and angel island at beyond, which of course are the natural peaks of the underground mountains in the bay.

encouraging for the country in regards to economic power >> in the worst recession since the great depression, the cable industry refuses to create jobs. the understanding of what we are living through, despite the general economy, efficiency in general is no less important to the future of the planet than the industrial revolution. >> thank you for spending a few minutes with us. david porter is the executive director of the yates foundation. the new head of the national cable television association has suggested that cable has not told its story very well and the good work that it has done. tell me about your foundation. >> it was founded years ago under the idea of increasing diversity across the entire cable industry for programming content. it really represents the commitment of the industry that the ceo's are on board with our board of trustees for a number of programs and activities that provide funding within the industry to continue to advance the work across the industry. >> give me an example of a major programming. >> leadership development programs for senior executives, communic

it survive the great depression but not the obama economy.ow have 20 million americans dramatically under employed. the president says to give him more time. three years he has been in time. but he said it cannot turn the economy around. i will collect on that. his is a one-year term. unless people feel about it, and people want change, it is a real work in a growing economy as a whole. they will have change in washington. >> what we do expect congress to do [inaudible] >> the first row of any enterprise is to recognize it is in trouble. the present time is being focused on campaigning. he spent his time and energy fix in this economy. there is another president meeting with republicans. he should not be that town he is dealing with the fiscal crisis. he does not have a primary opponent. he is going to raise $1 billion? we will not raise anywhere near that. this is where he ought to be spending his time. i would spend every waking moment doing what i could to get americans out to work. i would focus my energy and passion on the economy. i kno

she is in a school teacher during the years of segregation, world wars and the great depression and she still manages to keep her zest for life. happy 102nd birthday to a beautiful lady. that man was no match to the powerful wizards, harry potter sets a record at the weekend box office, hollywood headlines are next. [ male announcer ] you never know when, but thieves can steal your identity. turning your life upside down in a matter of seconds. hi. hi. you know i can save you 15% today if you open up a charge card account with us. you just read my mind. [ male announcer ] just one little piece of information and they can open bogus accounts, stealing your credit, your money, and ruining your reputation. that's why you need lifelock. lifelock is the leader in identity theft protection. relentlessly protecting your personal information to help stop the crooks in their tracks before your identity is attacked. protecting your social security number, your bank accounts, even the equity in your home. i didn't know how serious identity theft was until i lost my credit and eventually i lost my

. >> philip levine grew up in detroit during the great depression, the son of russian jewish immigrantshe worked in the auto plants, and resolved that he would speak for the people working in the factory. "and," he said, "sure enough, i've gone and done it." >> belle isle, 1949. we stripped in the first warm spring night and ran down into the detroit river to baptize ourselves in the brine of car parts, dead fish, stolen bicycles, melted snow. i remember going under hand in hand with a polish highschool girl i'd never seen before, and the cries our breath made caught at the same time on the cold, and rising through the layers of darkness into the final moonless atmosphere that was this world, the girl breaking the surface after me and swimming out on the starless waters towards the lights of jefferson ave. and the stacks of the old stove factory unwinking. turning at last to see no island at all but a perfect calm dark as far as there was sight, and then a light and another riding low out ahead to bring us home, ore boats maybe, or smokers walking alone. back panting to the gray coarse

it could have been worse than the great depression because 80 years ago, there was a grad angularity to the economy. things could be going very bad in one place that they could be going good in another place. these are now interconnected. you will not get the same period. some of our friendly competitors underwent such turmoil themselves in last few years and are worse off than we are today because we have dealt with this stuff more forthrightly. in no longer have this -- many of your payment institutions are complaining loudly to the regulators that america is nicer in compensation. there are some legitimate issues that have to be addressed. imposing margin requirements on end users in other countries is one. some of the institutions sometimes found like a 14-year- old child of divorced parents trying to play money against a daddy. the regulators have been talking and i don't think we see any [unintelligible] that includes a capital surcharge for financially substantial institutions. when the republicans have a hearing on international competition, two industry witnesses, one repres

the president found himself $10 trillion in hole in dealing with the worst recession since the great depression, as well as having to come up with money for a recovery. where did those moneys go? most of them went to help states and municipalities. many used that to stabilize states with a stimulus package that many, including myself, did not think was strong enough to sustain economic recovery. we saw it, no matter how fragile, with the small recovery that we had. one-third of the money of a $1 billion package was utilized to help states and municipalities balance their budgets. one-third of the money, the largest tax cuts, went out in the history of the country. people did not really notice it. they started getting extra in their paycheck, but there was nothing in there that said -- this is a big tax cut for you. in one-third of it was used in infrastructure programs. not enough, in my estimation. certainly when we look at the construction work that needs to be done, that is what needed to happen. to get there, the president had to borrow money. so, that created the situation that we find our

he feels he learned the lessons of the great depression. he feels he's in no hurry to start raining in the stimulus. we're certainly in the middle of a debate right now about the fiscal environment and we're certainly in a situation where fiscal policy is going to be tightening over the course of the next few years. one the questions that i think has to be a part of this discussion is how aggressively do you do that. it's hard to answer. because on the one hand, you want deficit reduction that's going to be credible. and a lot of people make the valid argument that you can't make promises to raise -- cut spending or raise revenues five years down the road, down the road people don't trust that congress will follow through on that. but on the other hand, if you do it aggressively upfront, then you run the risk of slowing the economy again by pulling it back too aggressively. there's a very delicate balance that has to be struck right now. it's being debated, obviously, in a very tense political environment. so we're at an interesting politic

i was talking about an economist earlier today who was saying that actually in the great depression thereos in the marketplace in that a lot of employers were saying we won't hire the elderly or we won't hire, you know, women or whatever, and just as that felt unfair in the great depression, it feels very unfair today. especially for workers who are desperately in need of getting a regular paycheck. >> yeah. absolutely. well, thank you for the update, nonetheless. appreciate that. >> thank you. >>> a make or break moment today in the amanda knox appeal. the battle over dna evidence heats up in her case. we're live in italy with those details. >>> and this new day dawning in washington with no solution yet to the debt ceiling standoff. there are lots of moving parts down the hill and at the white house. we'll break it all down for you next on msnbc saturday. just one phillips' colon health probiotic cap a day helps defends against occasional constipation, diarrhea, gas and bloating. with three strains of good bacteria to help balance your colon. you had me at "probiotic." [ female announce

we're talking about pulling out of the worst recession we have had since the great oppression -- great depression took a lot of time and energy and resources to do that. it is such an anti-obama mood it that it is difficult to get anything done. for example, listening to rush limbaugh, the biggest concern is that republicans should do nothing to help obama. there is no reference to saving the country, avoiding disaster with the debt ceiling. it was a question of helping or hurting obama. >> just to charles, the republicans' last-minute battlefield conversion to fiscal sanity was not and a display in the last 20 years of republican presidents, during which we had on balanced budgets in every single one. the only balanced budgets we had work with a fellow from arkansas, remember him? bill clinton. >> there is this problem of the recession and how much cutting you want to do during the recession and what that does defeat rea recession. >> let's talk about republican presidential politics. what are the polls telling us? >> mitt romney has had is an enthusiastic and be all the way through, but said in

. >> the worst financial crisis and the worst recession we've seen since the great depression. although some progress has been made, there's no doubt that this economy has not recovered as fast as it needs to. the truth is it's going to take more time because a lot of problems that we're facing right n now, slow job growth, stagnant wages, those were there even before the recession hit. for a decade the average wage to average income of the american worker had flat lined. those at the very top saw their incomes going up 50%, 100%, but those in the middle, the vast majority of americans, they had been struggling to keep up before the recession hit. so these challenges weren't caused overnight and won't be solved overlight. as john f. kennedy once said, our problems are man made. therefore, they can be solved by man. in the united states we control our own destiny. the question we have to answer, though, is where do we want to go? what's our vision for the future, and how do we get there? in the short term i've been urging congress to pass some proposals that would give the econo

i am not saying the challenge before us is the equal of the great depression or world war ii, but it could be. the great recession can turn into the great depression if we don't act. i believe you will be the generation that can say that we rose to the occasion. we kept this country free. [applause] and if you do that, you will not only have the thanks of your children and grandchildren. you will have histories thanks. you will have proven once again that america is the greatest and most exceptional nation on earth. thank you very much. [applause] thank you. ♪ >> once again, please welcome the president of americans for prosperity foundation, tim phillips. ["beautiful day," u2] >> i hope you enjoyed dinner. by the way, senator mike lee, who is one of the rising freshmen in the senate, was scheduled to be with us. you know the work he is doing. his plane -- he was on the runway in new york after meetings and events there. they had weather back east, the thunderstorms we get all the time there. they finally got them in new york. he could not be with us. he will be with us at a future ev

back in the depths of the great depression, optimism was franklin roosevelt's theme. in fact, it was also his theme song, "happy days are here again." americans soong it and believed -- sang it and believed it. ♪ happy days are here again the skies above are clear again let us sing a song of cheer again happy days are here again ♪ chris: that's a jaunty one. democrats found a new upbeat theme in 1960 thanks to frank sinatra, who wrote a second version of the 1959 hit "high hopes" for his pal jack kennedy. the song became a mainstay on the campaign trail. ♪ i've got high hopes he keeps american strong yes, there goes the opposition oops there goes the opposition curve oops there goes the opposition curve, kerr plunk ♪ >> ihink milwaukee, polish community event. ronald reagan turned the optimism note to a patriotic message. it was 9 hit song "god bless the u.s.a." by lee greenwood. ♪ i'm proud to be an american where at least i know i'm free and i won't forget the men who died who gave that right to me and i gladly stand up ♪ chris: bill clinton and al gore's optimistic

during the great depression, housing prices went peak to trough went down by 31%. so far this time housing prices have gone by by 33%, and they're still going down. we're not through that crisis. it's a huge crisis that affects everybody because as you say, it's the largest a set on the balance sheet of the average american family, and it's being wiped out! >> the implications of this politically, karl rove has written a piece saying 100,000 fewer votes from african- americans in north carolina could wipe away the gains the president needs. and hispanics in that same survey are the hardest hit group by the recession. and that comes at the same time they have the most -- the growth clout as a political force. will they be more politically engage next year and again the democrats -- >> pat, these statistics that we put you on the board on the wealth of blacks and whites are so worrisome that barack obama ought to put out a policy for black -- agenda for black americans. would than a bad move or good move? >> terrible move for this reason -- the white working class ha

grandpare generation, during crisis, during the great depression, we we talk about our grandparents' generation, during crisis, during the great depression, we built the hoover dam, empire state building. and here i see in my cities around america and mine, infrastructure's crumbling around us. in that generation, we said we're going to go to the moon and we're going to do math and science and make sure our kids are prepared to go there. what's happening right now? nations are passing us in droves. over eight different countries now have a higher proportion of students graduating from college than we do. again, our central capitol is fooling around on issues that are perfunctory, as you said. meanwhile, we're lacking what's best about america, what's made this nation strong in generations past, is our courage to take on the tough issues, to plot a course and to push our nation to the front of the global context, and this is what america's hungering for, not these party debates, but a larger vision. and the republicans are right, and i'm the first democrat to say that, that we have a

: kullman took over at dupont as the world headed into the worst economic downturn since the great depression. >> our volumes were... were plummeting around the world. the only business that held up through the entire crisis is agriculture. we had plant sites that were idling. we did not know how long it would be. we had no view. the supply chains couldn't help us, because they were in free- fall, as well. >> susie: but what was your first official act, that you had to make the decision, it was your call? >> to lay off thousands of people. >> susie: kullman ordered 4,500 layoffs-- almost 8% of dupont's staff and she imposed furloughs without pay. the last time dupont was forced to take such actions was in the 1930s. >> at the beginning, i thought it was the worst possible timing, how could this happen, right? but in retrospect, it was really helpful. people at that time were looking for direction. what do you we need to do to survive? what do we need to do to come out of it stronger? >> susie: how did it feel, taking over at that... at that time? >> it's humbling. i mean, you've done so many

strong statement about the debt but we are in the middle of the worst jobs crisis since the great depression and we have a fragile economy. so you have got to handle both of these at the same time whether republicans want to handle one of the levers of our economy and that's spending and deficit levels. >> i think that, you know, both sides can agree on one thing, it has to be a bipartisan plan and bipartisan solutions. and for one of the things americans don't want to see is all the back and forth, name calling and all the hyperbole about, we are going to kill this bill or we are not going to sign this or that. i think at the end of the day, what the republicans are saying is, we have two amounts. you have the boehner plan and then reid's plan. 2.2 trillion dollars over 9 years and then another to be determine after we decide on real hard cuts. they do have to be made. the democrats plan talked about making cuts relative to the war. we don't know how long we will be at war. we don't know if we end up in another war. you have to make sure that we are taking into account that real hard cuts h

and now today america is in a great depression thanks to thirty years of failed republican policies that have shredded the middle class outsourced our jobs and crippled our national infrastructure you can only wonder how much better off we'd be if five republican presidents had installed the white house in fact the last legitimate republican president the white eisenhower was unlike any other republican since he ran for the white house on a platform of peace and he would end the korean war but you. know i don't know i don't know or knows how to deal with. the other america europe reader i've got thirty forty one hot air like the number one or the number one job . oh me oh. yes his two campaign slogans were i like ike and vote for peace vote for eisenhower he was a moderate republican who stood up for working people who kept tax rates on the rich at ninety one percent and made sure that the middle class in america was protected by f.d.r.'s new deal policies as he told his brother edgar in one nine hundred fifty four in a letter to him should any political party attempt to abolish social s