the currency union now earlier i discussed this issue with the chief economist of saxo bank steve jacobsen he was pretty pessimistic to say. we are getting to a point where things are so bad that it can actually not get much worse i used to be. know the doom and gloom of europe and the lack of outlook now i think that we are in a crisis point and when you move to a crisis mode you have to remember we become far more able to to create a mandate for change because not because of we want to have a mandate for change because we need a mandate for change and the fact the core europe as i just looted to is now in the same boat means that there is a more off of will and i see we've seen that this week through the increase in social tension of course through the demonstration but also from the mere fact that northern europe now seems able to and willing to accept some sort of a have caught on on greece if you were the one person to make all the necessary decisions in europe what would you do i would wish that all the politicians and the central banks would go away for two three years and i think t

. >> reporter: tom jacobsen tracks consumer spending behavior and believes the fiscal cliff will impact shopping patterns. he says in an uncertain economy retailers will need to pay close attention to pricing. >> as the confidence erodes, you might need more discounting to sell a luxury good. but that extra discounting won't take away from that good-feeling luxurious. >> reporter: according to a study out today, half of u.s. consumers still plan to buy make a small luxury purchase in the next six months. of those, 53% want specialty food or drinks, 48% are in the mood for luxury clothing, and 48% are looking for expensive personal care items. nevertheless, worries about curtailed luxury spending are already hitting stock prices of high-end retailers. in the last week, shares of tiffany, saks, nordstrom, michael kors and ralph lauren have all lost ground. beyond the fiscal cliff, the stock market is one other potential problem for wealthier shoppers. if stocks extend recent losses into december, there could be fewer gifts under the tree this year. suzanne pratt, "n.b.r.," new york. >> su

there is simply no support for that because caballes cited jacobsen, and jacobsen was where the contraband fell out of the package and it was in plain view. so that just doesn't work, at least for me, in this case. >> well, the reasoning in contraband -- in jacobsen, though, the court said that the rationale, the reason for its decision in place, is because when you're talking about people's reasonable expectations of privacy, they have both a subjective and an objective component. so it's not just that you want to keep something private, it's that you need to have a legitimate expectation that you can keep that private. and the court has said over and over, in place, in caballes, in jacobsen, that you do not have a legitimate expectation with respect to contraband. that doesn't mean that the -- >> again, i don't think the cases go that far because those were cases in which the contraband -- jacobsen -- was in plain view. everybody knows that it falls out of the package. at that point, you don't have any -- what you're saying is, oh, well, if there is contraband in the house, then you have

i just love her when jacobsen and the story and his son is running the company.eral is tough but this is the way to play the wireless revolution without having to pick a winner because the business model is such that they provide r&d for all the players and doing extraordinarily well. saying came out with numbers, it was a record year for them, record quarter, revenue net, everything. dennis: they do the cdma wireless standard verizon uses the the more publishes gsm, at&t uses. i have been waiting for them to get all those patents and income phasedown. they have held their own. charles: they have held own. [talking over each other] charles: the code division. it will do it. apps jacobs winning against big boys, finally broke the ice and they are growing doing tremendous. in the last 3 month the street has gone from looking for them to make $4.08 to $4.46 almost every 2 weeks. the estimate coin. this month alone that had an upgrade from deutsche bank, new target 74 from 70, new target 69 from 66, new target 77 from 72, and a buy on them. this stock breaks around 6

there is simply no support for that because jacobsen was clear. the contraband fell out of the package and was in plain view, so that just doesn't work for me in this case. >> the reasoning in jacobson, the court said that the rationale, the reason for its decision and places because we're talking about people's reasonable and took -- expectations of privacy. so it's not just that you want to keep something private. that you need to have a legitimate expectation that you can't amend the court has said over and over emplace and jacobson, you cannot have a legitimate expectation with respect to contraband. >> again, i don't think the case goes that far because those are cases in which the contraband, and it was in plain view. at that point you don't have -- what you're saying is look, contraband in the house. no legitimate expectation of privacy. that, to me, does not work. >> we are trying to say that it is not that he lacked any privacy expectation. that is why you need to get a war before going into some. the docs that allows to go to a magistrat