italian leaders organizing an italian liberty loan drive where they can deliver one big check from the italian community that is a financial demonstration of their commitment as americans. and other ethnic groups do that, as well. this is this battle, this tug-of-war over can you be italian and american or are all hyphens gone? can you not have all this be part of who you are in the united states? it gets another little boost with another sort of twist on the fear of radicals we talked about a few minutes ago. this time it's not anarchists. it's bolsheviks. the russian revolution that follows immediately at the end of world war i ratchets up the concern over the possibility that immigrants coming to the united states are bringing dangerous political ideas. if they can overthrow the russian government, they can possibly do it over here as well. so you see in the immediate aftermath of world war i, a red scare that intensifies nativism, hostility toward immigrants a little bit more in this process, and, of course, this is something that was laid out for you in the chapter you read for to

match between germans and italian spread. 10 year italian bonds are high, 6.2%. spain over 7%. we keep our eyes on that. auction coming out today for italy, talking about with spain the need to try to get their borrowing costs down. we'll auction up to 5.5 billion of five and ten year debt. a lot of pressure on the shorter end of the curve. three year italian debt at 5.37% as well. so we keep our eyes on the short end. remember when we got rid of busconie in november. we're currently down to 1.2425 is where we stand at the moment. pretty much down near the thee week loss that we hit at the beginning of the week. dollar/yen lower. bit of export. aussie/dollar, 1.5541. final gdp coming out. that's where we stand here. what's happening in asia so far? tracey has more for us in singapore. >> most asian markets traded mix with some gains on a bit of bargain hunting ahead of the eu sue mitt but the china market landed in negative territory. showed some softness closing down 1%. hong kong shares flipped between positive and negative finishing down .8%. the companies expect full year p

it is the italians who will have a tough go. our goal is to take the next at to get into the final period whether one of germany's players will help them take that step is an open question. he is still recouping from a leg injury. in this all or nothing match, there is no monkeying around. >> still to come, a look to the u.s. with the supreme court is due to rule on health care. >> here is a short look at these other stories. >> russian president vladimir putin as on a visit to israel. they want moscow to step up the pressure on iran over their nuclear program. after meeting with the israeli prime minister, benjamin netanyahu, they said they wanted to use "peaceful means" to deter iran. >> the court in ukraine has adjourned a second trial of the former prime minister. she has refused to attend meetings in the tax evasion cases for health trials. already serving a seven-year sentence for abuse of office. >> colorado's facing its worst wildfires in a decade. 11,000 people have been evacuated on sunday from colorado springs and nea

so, for instance, italians are am coming in. remember the padrones, the labor agents that bring them over and put them in contract labor positions? they're unskilled workers. they tend to be doing the basic manual labor. many of them can be day laborers. one of the earliest efforts to organize italian workers in boston involves organizing hod carriers, which are guys that essentially carry buckets of waste in and out of construction sites. and so they were really at the very bottom rung of the status ladder of construction trades or construction work. it was basically grunt labor. so there is a limit as to what sort of the traditional unions in the united states can do for the newest immigrants. but you see other immigrant groups that are excluded from these, including italians, but also particularly jews in new york city that are involved in the garment industry. they gravitate towards socialists, and the socialists become quite powerful as a public force in new york city and morris hilquit, the leader of the group, is a jewish

said to have discussed italian family policy. and he writes about disputes between the cardinals and corruption and mismanagement at the vatican. christmas greetings to benefit from a famous italian tv presenter along with a check for 10,000 euros, and the question -- when can we meet the pope to say hello? and there are revelations about the vatican bank's new policies. pope benedict reportedly rejected money laundering and shady financial transactions. the appointee to implement the pontus policies and now stands accused of dereliction of duty. a few days after the book was published, the pope's personal butler was arrested. seen -- diligent foreseen in our its two weeks ago. as always, close to the broker also present, the chief of the vatican police who a few hours later was to arrest the butler. this is where the documents were stolen. pope benedict's office. the vatican knows what impact the scandal could have, and its spokesman is holding international press conferences almost daily, but few facts have emerged, and so far,

these are the italian cudd ookies. these are flat cookies. >> these are cookies, the italian cookies. parish women make up the cookies and make up boxes to sell. >> you can get them fresh. pay by cash. cannolis are a huge draw. will learn how to stuff a cannoli. >> they have wonderful cannolis. the italian women do with spoons and philip from both ends -- fill it from both ends. the cannoli has powdered sugar and chocolate chips. that is nice. the parish has a special seasoning. >> let's go back to tony in the weather center. >> it is all the same stuff. you need two hands. i'm sure she is loving it. that is a wonderful festival with great food. you will enjoy it if you go. the weather is going to be nice. 52 degrees in parkton. you can see have the jet stream dig down to the south. that will be with us for the next two days. then we will get warmer temperatures this weekend. you can see the low pressure and these spikes of energy. that is what is creating the showers. we had some pop up last night. there's another bat

they are tired of hearing about the italian jinx. but the coach said his men should put memories of their 2006 world cup semifinal defeat to italy to the back of their minds. >> i do not think there is such a thing as revenge in football. we cannot make up for our loss in 2006. it is done and tested. we cannot turn back the clock. >> germany had a chance to put things right in a filing with italy in february, but all the boys could manage was a drop. -- draw. >> germans live by professionalism, punctuality, and the like. but what i think is so good about italians is they have a more relaxed and laid-back approach to things. >> germany only has one year. the manhunt were for a spot in the final and plan on coming out all guns blazing. >> one man keeping those guns blazing is someone you probably have not heard of. >> german players undergo a rigorous fitness program that is run by an american who has been with the squad for about a decade. >> it may not be what you are expecting, but you cannot argue with the results. >> it may look m

even spanish and italian government debt profited.ple are skeptical though that this might not last too long. after all, the core problem, highs sovereign debt, was not being addressed at the moment. people may be are looking to the ecb, the european central bank, to give further aid next week with an interest rate cut. >> let's have a closer look as some of the latest market numbers. we begin in frankfurt were the blue-chip dax index closed over 4 the sun up. euro stoxx 50 ended the day almost 5% up. across the atlantic, the dow jones is currently going up almost 2%. and the euro is trading for $1.2658. >> on to other news. egypt's new president has made a dramatic visit to tahrir square in cairo. that is the birthplace of the revolution. >> mohammed morsi cantu tahrir square to make it clear where his loyalties lie, to the egyptian people and not the all- powerful army. >> morsi supporters have been gathering all day in tahrir square, waiting for more slogans against the military. they were not disappointed. pres.-elect mohammed m

how about italian treats, chef and owner of washington, d.c.'n stuffed flat breads. >> pizza on the pocket. >> pizza in the pocket. >> so now what's the dough? >> the dough, it's flour and pork fat. can use extra virgin olive oil but that's the real deal. salt and baking powder. in the area flat bread, this is italian version. >> no yeast. >> just a little baking powder and that's about it. here is how you cook them, just flip them over in a skillet like this. then stuff them with this. >> beautiful tomatoes there. >> some heirloom tomatoes to put here. would you like zucchini? >> sure. >> would you like this? >> sure. >> this one is so versatile you can do it with cheese, look at your refrigerator. >> basically you can empty out the frig. >> you can call it that way. it's okay. nothing wrong with that. we can also put some greens. you like some greens on yours. >> a little healthy. >> not a bad thing. some seafood. >> some salmon. >> salmon, caviar, just in case, feels a little more luxurious. >> once you do that, put this in the oven. >> you d

italian yields also jumping. treasury secretary geithner says 2% growth won't cut it when it comes to job creation and history is made once again on the baseball diamond. it's thursday, june 14th, 2012. "squawk box" begins right now. >>> here we go. good morning, everybody. welcome to "squawk box" on cnbc. i'm becky quick.

we will immediately hear that the italians can't pay their debt. because the budget deficit is too big and that euro deposit story, wrap fish in it, will you? greece is going to be leaving the euro. we're going to hear that rumor. there's no contingency plan. or our stimulus plan that's supposed to back us up doesn't exist. and we're stuck with no game plan to revive our own economy. we know these stories will appear. we know the rumors will be rife. it's like a gosh darn continual relentless running of "rumours" by fleetwood mac. instead of don't stop thinking about tomorrow we play don't stop rumoring about tomorrow and we then rumor that greece is going to go its own way. go its own way. you can call it another losing day. this kind of divining and following of rumors is no way to invest. it doesn't work. it's useless. it's like hedge fund drizzle. the truth is, no one really seems to know anything. the market seems to trade on any story. on sunday night, the s&p futures roared higher. why? you heard about a $125 billion bailout of spanish banks

here they can lower the interest rates and even guarantee a certain interest rate in the spanish italian bonds and that would put an end to this threat of a severe crisis so do you think euro zone look hard sad that the highest risk is yet another crisis in europe do you think that's coming that's exactly right there aren't any big risks to the global economy other than what the europeans are doing to themselves and that's really what it is it's a self-inflicted recession that they're in right now if the recession continues the deeper and more importantly if these governments do what they're being instructed to do by the european authorities that would be the european central bank the european commission and the i.m.f. if they actually tighten their budgets further cut spending further they're going to go deeper into recession and then we don't know what happens that's what christine lagarde is worried about in spain which is the big trouble spot right now because investors are selling their bonds and driving up the interest rate on the ten year bonds to dangerous levels that's the real

you say well exactly we can only be working with the exports half if the greeks and spanish and italians buy our products and the euro is a big program to help us export so it's not the case that the greeks have a party and we work is that we sell go to people say the germans go to greece they have a party a family you know but i think the way i see the crisis is that it will be the european union as never move forward without crisis well and they will usually have to me this is one of the interesting fill in one of the interesting things about the integration process of europe leading to the monetary union has always been through a crisis but each crisis is a lot more severe ok in one thousand fifty eight to war everybody you know no one could export their goods with european countries so they think establish the common we become in trading area ok that was a big political decision and it was very very good decision but each crisis gets a little bit more worst than this once fundamentally the worst one. is this something that is people can be aware of i mean do you want to employ if you

i'm still using vinegar and oil instead of italian dressing. i'll show those italians who's boss. there's regina gilkin, our executive producer. how could i miss talking about our set producer if i bring up regina salad dresing. that's a little offtopic. next is altria. i hate tobacco but a few years back, the people who run altria said they wanted big play on cigarette play whould a yield. how about this one? the doctor? really hard to find. see it in every single convenient sfoer case. i'm talking about dr pepper, snapple. i told you the carbonated drinks are doing so well in the country. they're doing the dew. how about the domestic drink company. the doctor will be there for the run on the posetta. he'll be in the house. american house. how about retailers? why not remodel? why not lumber lick kwi day tors? why not sherwin williams paints? will you stop painting your living room when italian bonds are 7%. maybe you'll stop participanting when dexia loses deposits. forget the spray paint. i'm not going there. we don't joke about cancer on the show. last week we had seattle gene

but, italian food is so good. actually went out over there recently. and i had so much spaghetti and pasta. and last night i had sushi. i went to a sushi restaurant because i wanted something different. and all these women in komonos saying -- [ speaking italian ] it was very interesting. now the woody allen movie "to rome with love." i love woody allen. last time you worked with him you won and oscar, congratulations. >> thank you very much. [ cheers and applause ] >> jimmy: and now you're shooting this thing. does he treat you any differently? does he give you extra notes? >> no, the same. you don't see him much. i talked to him by e-mail when he offered the movie. then i called back or i wrote and said, "yeah. i love it. thank you so much. of course i would love to play this character." and then i never saw him until we were onset. >> jimmy: really? >> and there is not a lot of conversation or hanging out. but, i adore him. i love looking at him. i love listening to what he has to say. he's so funny. >> jimmy:

in dollars, it's much less ( speaking italian ) upo>> i lived in rome for a year when i was your age. >> this might have been my exact street. >> come on in. >> my friend just broke up with her boyfriend, i told her she could stay with us. she's smart and funny. men adore her. i think it's because of the sexual vibe. i always had a you know for sleeping with women and when i finally did it, it was incredible. >> she's something, isn't she? ( speaking italian ) >> michelangelo. >> hi. >> my father. >> the kids a communist, the father is a mortician. colony. >> i don't want to do it here. >> you're going to screw your best friend's boyfriend, does it really matter what the venue is? >> you will never understand women. >> that's been proven. >.>> rose: the film is four vignettes. one stars alec baldwin, jezy eisenberg, greta gerwig, and ellen page. another starses can crews, and allen tibry. >tibry. it is woody's first appearance since his last film "scoop" in 2006. here is that vignette. >> he's going to be a big star. >> she probably won't stab a woman. go ahead. calm, calm, relax, rel

it celebrates the italian in all of us. especially the contribution to italians in san francisco, plenty of pasta and i think my stomach is part italian. >> let's get to leigh glaser, a little bit of a cooldown. >> right near the coast and even near the bay. a huge cool down today. you can see why. this live camera from high definition mount tamalpais camera looking down on richardson bay. behind all these low clouds and fog at the golden gate bridge, as well as san francisco. it has been a cooldown indeed. live doppler, we'll take a look that the showing you the low clouds also the fog that is banking up near the coast. we'll go ahead and get the computer going, hold a second guys. and then we can started it. you guys can take my live doppler 7 hd and get a sense of the low clouds and fog that started to race in overnight last night. it is banking up near the coast. that has allowed temperatures to drop. yesterday's highs compared to today's, napa 101. it was yesterday's high they reached 78 degrees, down 23 degrees. san f

spanish and italian debts are sustainable. if it works out for the cost of $50 billion, the spanish and italian ten year would come down to just over 0 four. >> but part of the reason it would be $50 billion is because you assume that the yield in core countries would only rise 50 basis points. if they were taking on more credit risk, not direct dread it risk but some degree to these struggling countries, they see much more especially if you consider inflation that that might imply the eurozone much, much more than 50 basis points. >> well, they might. but if you say it's 50 billion, again, if you sell it and you say it's 50 billion over seven years of which 30 billion is coming from germany, 30 billion is just over 1.5% of german g did dp spread over seven years, you might get away with not such a big hike. we might. it's an idea we're throwing out into the debate. it will be interesting. >> and let's throw that out. what do you think? worth exploring? >> anything is worth exploring in the peripheral nations. i don't necessar

well, as an italian-american, i do things in the italian style, which means that obviously i treat the navy as family and i don't like anybody to mess with family. it also means that i can make you an offer you can't refuse. so in exchange for freeing your classmates on restriction, i've got an offer. i want the entire brigade to leave the class of 2012 and their families in one big cheer. and i need to hear from everyone or it doesn't count. so let's hear a big go navy on my count. and remember, this is the difference between salvation or purgatory. so on three, one, two, three. >> go navy! >> well done. [ applause ] i exercise my authority as secretary of defense to grant amnesty to all mid-shipmen on restriction for minor conduct offenses. as a catholic, i'm tempted to order you to say three hail marys in a good act of contrition. with that out of the way, let me first and foremost offer my deepest thanks. thank you to the class of 2012 and to all mid-shipmen for your decision to serve this nation at a time of war. you have set yourselves apart in a profound and in an honorable way.

as there is in german-american, italian-american etc. that is what they are struggling with now that they have led to many outsiders inside, that they would like to have guestworkers, but they would like the turks to go home after they serve their 15 years or so. it is a very different model. i think for americans, it is not a big deal -- diversity. we like it, we like all be at the next boot. that is what is wonderful about it. i grew up in colorado, and that is what i came to. i came to new york for the diversity. >> i would like to add something, though. that is the good side. there is also the dark side. in our chapter on diversity discontents, we recall in the united states the marginalization, the attacks on various minority religions, minority groups, starting with the revolution with the french and the passage of the alien and sedition act. we recall it until 1960, that roman catholics were considered impossible candidates of presidents. if you look back on all the different groups in the united states, all of them have gone thro

if this italian navigator can find a route to the east we can dominate, good news. and so columbus is called back. i love this painting. isabella looks somewhat disinterested in all of this. looks like she's half asleep. ferdinand looks like he's looking at the ceiling. here's columbus, again, we don't know what he really looked like, but as good as any, making his pitch. ferdinand and isabella agree to support his venture. she didn't have to pawn her jewels. queen isabella did not have to pawn her jewels to finance this expedition. columbus is given a contract by the crown. he will be admiral of the ocean seas and vicviceroy of all the lands he discovered. he would be admiral of ocean seas and viceroy of all the land he discovers. they didn't know what they were giving away. they tell columbus, we want you to go to the port of palos, which is in southern spain. again, for reasons they're not quite clear, it would seem that the people of palos had done something to offend ferdinand and isabella and they were being punished. the way to punish the people of palos was

[speaking italian] i go riding there every morning. it's beautiful.t. >> it's a very good life you described. are you spoiled? >> yes, i am very spoiled, but i think we appreciate what we have. >> and they are constantly reminded that in this line of work, nature always has the last word. the antinori found the 2002 crop wasn't up to par and didn't bother bottling most of it. >> you cannot force things. you cannot force nature. if you have a bad vintage, tough luck. we can wake it up for a second before we put it back to sleep. >> every few months, they check on the progress of their wine, fast asleep in the cellars. [glass clinks] the verdict? let it sleep awhile longer. >> you see, it's still very young, very rough, very-- has to stay in there for a little while. >> another family meal, another bottle of wine or two. every once in a while, someone offers to buy them out, but this farmer and his daughters politely decline on the theory that if family ownership was good enough in 1385, it's good enough today. >> it is really our intention to remain a

[speaking italian] i go riding there every morning. it's beautiful. love it. >> it's a very good life you described. are you spoiled? >> yes, i am very spoiled, but i think we appreciate what we have. >> and they are constantly reminded that in this line of work, nature always has the last word. the antinori found the 2002 crop wasn't up to par and didn't bother bottling most of it. >> you cannot force things. you cannot force nature. if you have a bad vintage, tough luck. we can wake it up for a second before we put it back to sleep. >> every few months, they check on the progress of their wine, fast asleep in the cellars. [glass clinks] the verdict? let it sleep awhile longer. >> you see, it's still very young, very rough, very-- has to stay in there for a little while. >> another family meal, another bottle of wine or two. every once in a while, someone offers to buy them out, but this farmer and his daughters politely decline on the theory that if family ownership was good enough in 1385, it's good enough today. >> it is really our intention to re

i will take fresh italian tomatoes and the fresh seafood, and will bring them to other with some nicepoked paprika and some nice smoked jalapeno peppers. i am going to stew them up and get a nice savory, smoky, fishy, tomatoy, spicy broth. >> bring it on. how are you feeling? >> i feel good. i spent the $20 and have a few pennies less. i am going to go home and cook. i will text message u.n. is done. >> excellent and really looking forward to it. >> today we're going to make the san francisco classic dish invented by italian and portuguese fishermen. it'll be like a nice spaghetti sauce. then we will put in the fish soup. the last thing is the dungeon as crab, let it all blend together. it will be delicious. when i could, i will try to make healthy meals with fresh ingredients, whatever is in season and local. those juicy, fresh tomatoes will take about an hour to cook down into a nice sauce. this is a good time to make our fish stock. we will take a step that seems like trash and boil it up in water and make a delicious and they speed up my parents were great clerics, and we had wond

mopping up the mess in the italian box. after good work from a shop called second on russia's third then put the icing on the cake a minute from time at the appeal reflection of themselves but dicks only on the other hand will march on with mute hope i. italy are far from an amateur team and created plenty of chances against us they kept up the tempo by making timely substitutions throughout the game while it was physically so for us to close out the match in the end we didn't play nearly as well as the final score indicates and everyone in the changing room realizes that. one man who had a thought in both camps for last night's game was former fifa referee report to reset to the italian is currently the head of referee in russia and he says of the cats men have every chance of getting out of the group stage and going possibly even further. and i was out there the day i saw you. on the court and spent. maybe. like a. child. the last month or so. liverpool football club have confirmed brendan rodgers as their new manager the

spain in the final will be either germany or italy is in the second semifinal tonight in warsaw the italians will be seeking to continue their are all expected run while the germans must make history if they are to reach the final to reach of on port three caught up with fans from both sides of the divide. germany italy a true clash of the titans. these two countries to establish themselves as powerhouses of european football over the last seventy years germany have looked imperious so far in this tournament played for one for their supporters would have preferred a semi final clash against england but instead they will have to pick their wits against an italian side who have never managed to beat a major tournament was a little bit of course and a lot of my friends saying so we are not able to beach to tell you but for me it's clear this time it's it's the exception that's going to govern the route. no one gave it much hope before this tournament started they were humbled by rusher and the only warm up game was some of the players were caught up in yet another corruption scandal on the eve

six time champion federer dropping only six games on way to a six one six three six two win over italian five year fognini after the match the fed expressed you this is a testament of his support. i mean i thought of trying hard to be quite honest obviously it's hard to get into the match when you're down and i was serving well that. you know you're not going to get many chances throughout the movie against me when i'm serving. it was most obvious it's frustrating. russian meal rest on the day centered around mikail youzhny and igor on the rear of twenty six easing into the next stage with a straight sets win over a spanish qualifier in eagle sirrah volunteers but. is denise is to mend his victory while late in the day novak djokovic ensured his quest for a second straight wimbledon title remains very much intact following a three set win over american ryan hawks and. now there have been a few upsets at wimbledon early on in the women's game on wednesday was no exception seventh seed carline was an iraqi crushing out in the first line of a grand slam for just the second ever time a strai