we're back of course with the famed investor, jim chanos, our gang as well.'s talk hewlett-packard. the stock is the best performer today out of the s&p 500. meg whitman on the back of earnings in an interview here on cnbc said we're rounding the corner where the growing businesses are bigger than the declining businesses, are you still short? >> yeah and thank you for bringing up the only stock that's up today that i'm short. i appreciate that. we're still short. we think it's a challenge business, we thought it's a challenged business for the last four or five years. despite meg's best efforts, think they're in business as it are in secular decline. and that's the problem. and compare it to a company like apple. we could argue apple all day long. i'm long apple. it's just, i would rather own that cash flow stream in old tech than the cash flow stream at hewlett-packard. >> she was pretty frank about where the, where the pc is, getting better any time soon? no. not like she was polyannie about that. in your short cycle as an investor where are you on that cu

of what jim chanos said he would do.ton raised $45 million and has another 15 million from an outside group already in place. joe biden has a lot of catching up to do. the more big-money people he can get to commit, the better position you will be in, and possibly the more willing he will be to run. money is absolutely a crucial component. jen, crucial component. what does this say when a man of mr. chain was a stature comes out and says joe biden, it even if you were willing to run, willing to help you out? jen: this is something we've heard rumblings of for a while, there are some democrats who just are not drawn to hillary clinton for whatever reason if they don't absolutely dislike her, which is also a possibility for some. there are people out there who are looking for another alternative. we're talking about the rigors involved in the hedge fund world, they're probably not going to be a bernie sanders supporter. they're looking for somebody else who is going to kind of be that electable democratic candidate. gettin

jim chanos. have a great weekend. "power lunch" begins right now. >> indeed it does, scott. thank you very much. another selloff. you probably knew that already. welcome ever boyd. the numbers are the story. the dow down almost 2%, down 1,000 points in august. nasdaq down more than 2%, russell down more than 1%. >> as you can see there on the screen, the psq is the inverse of the qs and that is the leader, up nearly 3%. the vixx is up huge today, almost 26%. vxx, an an etf that tracks volatility is up 10% alone. the ten-year is sitting at 2.036%. we're seeing if it gets to that key 2% or even below. that's a very key level. as for wti, crude is down by 3%, currently hitting shy of $40 even. gold is a winner. a little bit of a safe haven, currently sitting at 1159. we'll bring you more on the gains we've been seeing recently in gold and the dollar is lower today. that is also helping gold. >> who would have thunk that the ten-year note would have been right there at 2% and crude might dip into the 30s this summer? i'm tyler math sin. mandy drury here as well. let's get right

. >> coming up next jim chanos on the halftime report announcing he was short solar city.res then tunneled. but the ceo lyndon reed has called into our control room and and he's going to respond to chanos's call. you will not want to miss this. this is right after the break. stay tuned. work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this. want bladder leak underwear that try always discreet underwear and move, groove, wiggle, giggle, swerve, curve. lift, shift, ride, glide, hit your stride. only always discreet underwear has soft dual leak guard barriers to help stop leaks where they happen most and a discreet fit that hugs your curves, you barely feel it. always discreet underwear so bladder leaks can f

. >> coming up next jim chanos on the halftime report announcing he was short solar city.res then tunneled. but the ceo lyndon reed has called into our control room and and he's going to respond to chanos's call. reed has called into our control room and and he's going to respond to chanos's call. ireed has called into our control room and and he's going to respond to chanos's call. vreed has called into our control room and and he's going to respond to chanos's call. ereed has called into our control room and and he's going to respond to chanos's call. eed has called into our control room and and he's going to respond to chanos's call. d has called into our control room and and he's going to respond to chanos's call. d has called into our control room and and he's going to respond to chanos's call. has called into our control room and and he's going to respond to chanos's call. >>> the problem with solarcity relative to some of the plays like sun edison that are industrial and commercial plays is they're a residential model. and the residential model i'd like to point out

noted short seller jim chanos was on the "halftime report." >> markets go up, markets go down. i have no idea where we are if p this is even a correction. i think we've don't complacent. it's been straight up for the last few years. that's not how markets work. as to whether this is the start of a bear market, i have no idea, or a correction. >> at last check we'll see if we close here. i believe the dow is down 9.5% from its recent highs. 10% is all it takes for a correction. let's talk about it with our "closing bell exchange." ken mahoney joins us with john brady and ben willis. gentlemen, welcome to all three of you. >> we started lowering our risk going from growth to value. this week remind me of that movie with bill murray, "groundhog day." every day he wakes up to the same kind of thing. >> 400 point decline? that's groundhog day? this is uncommon. >> every day we wake up, shanghai down 6%, followed by european markets we get the hot p potato with the dow down 450 points. it will end at some point. we are encouraging investors to take a deep breath. over the weekend loo

hyman, let us get to the big stories, including a solar city and a short from jim chanos. short of the stock. this is the largest provider of rooftop solar panels in the u.s. and the stock is down 20% for the year today. it has dipped as he began talking about solar city. we saw a little bit of a bounce off of those levels. he called it a subprime finance company. elon musk is involved with this company and one of the founders. a relative of his is the ceo of the company. interesting here this movement that we are seeing in the stock. turning to the broad market and let us look at the major averages. betty just mentioned it is bouncing a little bit off the bottom, but a very little bit. we saw the low for the dow today around hundred 38 points -- 338 points. still very deep declines across the board. look at the one-week performance here, it could set up for its worst week, down 4.2%, since november 2011. we have not seen a week like this in quite some time. said, we are not seeing a correction in the s&p 500. down 6% for the highs of the year. let us look at my bloomberg

. >>> a bold bearish call last week by jim chanos running to buy shares of his company. stock and the trade in our trader blitz. >>> paging dr. j. jon najarian has taken over the twitter handle for the day. coming up he answers some of your questions. here at td ameritrade, they work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this. i'm a gas service my nrepresentative. n. i've been with pg&e nine years. as an employee of pg&e you always put your best foot forward to provide reliable and safe service and be able to help the community. we always have the safety of our customers and the community in mind. my family is in oakland, my wife's family is in oakland so this is home to us. being able to work in t

jim chanos has been beating that to death for years that china is not sustainable. fed at some point, at some point, six 1/2 years here already they will have to move around the big question is whether or not the market can sustain itself. we know the economy, adam, is in lousy shape. why is this any surprise? why suddenly a 200-point move? >> people are nervous. they're reflected in the volume of trading. there are not buyers who want to step in just yet. look what comes our way next two months, back to school shopping, cheaper gas prices across the country. consumers will have extra cash to spend money. stocks right here in the united states, don't try to china this in any way. just stick to what you know. there is probably going to be surprises to the upside in a good way come the fall. trish: you mentioned gas. i think that is important. i've been saying for months and months and months seems, ever since we saw plunge in oil prices consumers would start spending money. we haven't seen it yet. >> no you haven't. trish: i think until they really feel it is here to

jim chanos, great investor talking about this for years. this is very problematic economy that's a bubble. if it ever, got any, if it was exposed to the light, you would see the cockroaches run. it is problematic. so alls we know is what the chinese government is doing. the market i think is saying, okay, maybe it is growing 5% as opposed to 8% which is still damn good but investors are saying we don't know if that 5% is 5%. melissa: really true. gary, let me bring you back in, who was telling us this? the oil markets were telling us this of the we've seen oil decline and decline and decline. it always has been driven by china. as it went lower and lower you're saying this is the canary in the coal mine. oil is trying to tell us something, there is global slowdown charting in china. go ahead. >> everything has been telling us. commodities topped out 30 reason months ago. semis topped out in march. these are news for you, stock market doesn't drop 16 to 18% in matter of weeks if everything is a okay. >> good point. >> i get comparison to las

those who doubt the data we get out of the chinese government which is not just the jim chanos's of the when you are seeing an actual action step and numbers changing because of it that tells you a lot. matt: if you want to step away from the car vocus and just focus on the chinese economy they want to grow that economy in a can tumor focused way -- in a consumer focused way. stephanie: but our consumers here have significantly more flexibility in what they can do and how they can do it and when. matt: true. in china, it is far less than 60% of the economy. i looks like that at auto sales versus gdp and they correlate completely. if auto sales falls first, gdp follows, and a gdp comes up, auto sales follow. stephanie: i wish we could have seen a graph on television. matt: i brought it to surveillance. erik: what you are saying is going into a downturn, auto sales could be a leading indicator. matt: that is right, a lot of economists think of out of sales as a leading indicator. the interesting thing is europe european auto registrations were up 15% last month. they are expected to be up

>> there are and i think we got a taste of it yesterday when jim chanos came out publicly and said note to a biden campaign if one existed, but he would help raise money to one thing he did not say, he was not going to sing -- single hanley drop millions into a super pac. that, joe biden has some problems more historic than anything else. whenmes from a small state he is running for senate. if you look back at his 2008 campaign for president, he raised about $11.3 million. compare that to a hillary clinton and bernie sanders did in the first quarter. bernie sanders, $15 million. there is some weakness and that is a concern in most people in biden's orbit. good news to look at it i crunched the numbers of the 248 from the obama 2012 campaign that brought in more than $500,000. that is a select group more than 50% have not given to hillary clinton so far. there is money, it is out there, and it is a big question of whether or not joe biden can go get it and whether those noncommittal people are biding their time. trumpi want to move on to . unavoidably, perhaps, because he is who he is.

it's possible for nuk to be right about the economy and jim chanos to be right about the chinese stockowerful statement and investors are trying to figure out the link. appreciate it. what are you reading, "the new york post"? >> i'm reading this and thinking about you. what got my attention was the picture of his head. he's foregoing a tv deal for the clippers to do it himself over the web. >> wow. >> the beginning. >> that's why i thought about you. but then someone says, look, he could get this much, but the fox deal is probably more money, but high wants to do it just to be automobile to do it to be a tech pioneer to go over the top. will you read this and get back to me? most of the time the photo shops don't work. that looks like he's driving the lane. >> can they get a little closer? >> he's way too old to jump that high, i think. i can tell you that from experience. much more on china still to come. senator marco rubio calling for the u.s. to stand up to the chinese in a new op ed. he'll join us from the campaign trail. >>> time for today's aflac trivia question. in the world o

and later today, don't miss jim chanos at noon eastern. s here. mercedes-benz you've always wanted. but you better get here fast... yay, daddy's here! here you go, honey. thank you. ...because a good thing like this phew! won't last forever. see your authorized dealer for an incredible offer on the exhilarating c300 sport sedan. but hurry, offers end august 31st. share your summer moments in your mercedes-benz with us. >>> i think i may just have had a near death experience. if so, then i'm happy to report that in heaven there's a lot of dancing. and joy. however, i think and i'm sure you would all agree with me, it would be prudent to take a commercial break. i remain and always will be walter blunt, right here, right now. >> he does it better than we do. that was cable anchor walter blunt as played by patrick stewart on the new stars comedy, "blunt talk", part of starz network strategy to invest. chris albrecht is here, the ceo. thanks for coming in. >> thank you. >> who are you supposed to be? come on. >> oh, really, there is no one news man. >