he's harry dent, president of h.s. dent, an economic research firm. and he's author of the new book, "the great crash ahead." harry, welcome to nightly business report. nice to have you with us. >> nice to be here. >> susie: you heard our report. there are some economic statisticstatistics that have bn improving but i take it you don't bay that? why are you so bearish? >> we look at demographics that really predict consumer trends before they happen and not afterwards and the story has been baby boomers would continue to spend more money-- which they did-- they would start to plateau, but 2012 on we swear declining phase as people's kids are getting out of their nest ask they're saving for retirement. this stimulus is not going to keep the economy going, and it's already been struggling thus far. so, yeah, we see, by the second quarter of 2012, the economy is going to slow again and the stimulus back from q.e. 2, which ended in june of 2011 is going to wear off and we'll be back down to zero growth or lower. >> susie: would any kind of federal stimulus

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harris: jennifer griffin, thank you very much. good to see you. president obama saying europe does not need a bailout from the united states. still, the debt crisis putting another dentn our 401(k)'s today. european leaders meeting tomorrow for what they call their last chance to save the euro. regulators saying it will take more than $150 billion to stabilize the economy there president obama saying europe is rich enough to solve its own problems. >> it's not as if we are talking about some impoverished country that doesn't have any resources and is being buffeted by the world markets and they need, you know, to come hat in hand and get help. this is europe with some of the wealthiest countries on earth. >> harris: the markets here in the u.s. apparently not so confident. the dow plunging nearly 200 points falling below the 12,000 mark. the nasdaq down more than 50. the s&p down 27. there is this. new signs of hope for the job market. unemployment claims hitting a nine month low. falling to 381,000 last week according to the labor department. that's the lowest level since february. and it's close to the 375,000 mark which economists say would signal a steady drop in

harris' apartment, hobson and golson was giving out the beat downs. hunter was lined up with 11 pledges and struck 20 times. the very next day at the apartment, hunter and the same to dentsmore repeated beatings. then on november 5th, police say sean hobson sent pledges a group text message telling them i apologize for the hurt i put you through. but by november 7th the hurt was too much for brea hunter who called paramedics was hospitalized and diagnosed with a cracked femur and blood clots in her legs. awe thought morning when i woke up. >> reporter: the young men denip the beatings and say know hazing rituals took place at the apartment. >> i am so confused by this. why are you being hazed as a band member? >> i never understood. >> thought sorority and fraternity things. extends to groups. clarinet player says he was paddled 300 times in '98 had to go to the hospital. he is coming public. talking about hazing incidents for years. i don't know why people are doing it. >> people in school there to be educated. i'm confused. >> we're all confused. we're all confused. >> facing a deadline at the end of the month. lawmakers in the house approved an extension of the payrol