tom brokaw and jennifer granholm, and jim cramer and raul labrador is coming up next. volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the cc. and every volkswagen includes scheduled carefree maintenance. that's the power of german engineering. right now lease the volkswagen cc sport for just $289 a month. ♪ visit vwdealer.com today. >>> we are back with our roundtable discussion. joining me now, host of cnbc's "mad money," jim cramer, >>> we are back with the round table discussion and joining me no is host of the cnbc's "mad money" and special correspondent tom brokaw and former governor of michigan, jennifer granholm and also the congressman from ohio raul labrador. i want to start with you, jim, people say there is washington gridlock and washington meltdown and they are preparing for the latter and this is a tough day and code red day for many on wall street, and describe it. >> well, a lot of the people are trying to figure out where bills will be paid. a lot of people are trying to figure out what cash is

. >>> now joining me from wall street is jim cramer, "mad money" from cnbc. let's dig deeper into what's happening on wall street today. obviously, a slightly better than expected weekly jobs number, but still, we've got a lot of turmoil to come. we have not bottomed out, have we? or have we? >> no, i don't want to say we bottomed because our problems are two-fold. one, do we have an imminent recession because of all the different problems in washington. i'm not going to say the problems are on wall street. i'm not going to say the problems are with companies. it is washington, and the second thing is the central bank of europe, are they in real crisis and are their banks in france and italy about to fold. these are the concerns and the actual gyrations in the stock market have very little to do with what's really happening when they're up or when they're down. unless we get resolution and know what's going on. >> one of the things we will be talking about throughout the show is the "washington post" poll which showed huge majorities of people do not have any

we're also joined from cnbc by jim cramer for his thoughts on the day. jim, same question i started with to maria. i want to hear your version, knowing folks are watching right now in all 50 states with a stake in this economy. how would you put what happened today? >> i think this is the market trying to factor in a worldwide slowdown, if not a recession. we were factoring in pretty good times just a couple of months ago, brian, so obviously this is a ratcheting back. but i want to urge people, stay the course. i saw panic today. panic is not a strategy. i'm not saying i can hold your hand and we won't go down more. i think we will. but this is nowhere, nowhere, as bad as 2008. we have to keep that in perspective. >> jim, this debate we've just seen in washington didn't exactly fill the american people with confidence, but it's really scary when you learn that it's factors that's fueling this beyond our borders, beyond our control and overseas. >> yeah, it's this unseen contagion that worries us so much. people can't believe what happens in greece and sp

let's begin tonight with wall street jim cramer, the host of cnbc's "mad money." jim, first, the unemployment dropped from 9.1 positive 9.2. the economy added 117,000 new jobs in july. what are your thoughts? >> okay. i thought this was just plain unadulterated okay news. i didn't say good news. okay news because we were looking for something that was completely un-okay, we were going to actually, a thought maybe there would be no jobs created at all. look, chris, there's a lot of bad news out there, this wasn't one of them. this was actually something that was a relief. >> what do you make the fact the dow ended up 61 of ahead from where we started? not the second fear run. i thought a run on the bank today after yesterday. >> i want to make a point it was really not our fault this time around. the 500 yesterday, down 200 at one point today today after up 176. it's europe. it's europe. it's europe. it's europe. they're falling apart over there. they don't have any leadership. there's nothing coming out of europe that makes any sense. if they don't develop a plan s

jim cramer, of host of "mad money." the economy added 117,000 new jobs in july. what are your thoughts? >> i thought that was just plain unadulterated okay news, we were looking for something un-okay. there was a thought that maybe there would be no jobs created. chris, there's a lot of bad news, but this wasn't one of them. this was something that was a relief. >> what do you make of the fact that the dow ended up 61 ahead of where it started. we didn't have the second fear run. i was afraid there was going to be a run on the bank after yesterday. >> it was really not our fault this time around, the 500 yesterday, the down 200 at one point today, after being up 176. it's europe, it's europe. they're falling apart over there. they don't have any leadership. there's nothing coming out of europe that makes any sense at all if they don't develop a plan sunday night to take care of the never do well countries, including italy. we'll be back down 200 on monday morning at the opening. >> let me ask you a tough question, this question may not conform to your speed of an

jim cramer, i want to start with you.top anchors in the country who say there's washington gridlock and there's washington meltdown. they're preparing for the latter. this is a tough day right now. it's a code red day for many on wall street. describe it. >> well, i think a lot of people are trying to figure out where bills will be paid. a lot of people are trying to figure out what cash is. in other words, there's so much money due, the government owes so much money in the next few days that the banks are wondering who will pay it. will there be a total shutdown? will the president have to order money be printed? will gold be sold at ft. knox? the range of worry is so stagnant that all the great bankers and many of the bank ceos i deal with simply have no idea what will happen. >> if we don't have a framework today announced, what could happen in asia, what could happen in u.s. markets by tomorrow? >> we have to go lower. it's just etched in the cards. we've got -- by the way, on friday, we heard there might abe deal thi

that's what jim cramer was saying a minute ago. instead we have a mythology, and i think a self-serving mythology. i think the republicans may want to wreck the economy. make it even worse, assuming that's their road to the white house. >> well, i don't know what their motivation is. i've been told by people they're stockholders would kick them out of their ceo jobs, holding back on investments to screw a democratic president. i don't know what motivates people but it seems like, the proper motive isn't working, creating job or have an unstable society. the unemployment is not reflective of how many of out of work. we know how many are underemployeed. working at jobs they could do nor and are deprived of that opportunity. my question again, go through the next year. we know that localities benefit when things are built and people are put in jobs not thrown out. why is the public resent that? led to resent that? >> i don't think the republicans have done very well, tea party republicans talking about big government in the abstract.

worst day on wall street since 2008, matt is on the trading floor live with maria bartiromo and jim cramer and the manhunt intensifies for the so-called dougherty gang. two brothers and a sister on a southeastern crime spree. the latest details in a live report. >>> now, keep it on this channel for continuing local news, weather, sports, and more. i'm lynn berry. thanks for watching "early today," just your first stop of the day today on your nbc station. have a good one. cc1:

arguably, that's why it's so difficult for people to understand. >> jim cramer talking about the euro zone. after greece, which country would be the biggest concern. >> i think certainly italy and spain. i agree with cramer, if last year is the year we lost trust in business, this year is the year we lost you trust in government. i think that these numbers reflect that. yes, you've seen unemployment tick down a small amount, but that's probably in part because not only are there fewer people looking for work, gas prices are a bit down and the japanese tsunami issues are working their way through the system. we're not seeing a secular change here. we're seeing high unemployment much longer recovery than we should have. >> rana what do you recommend, because stimulus is going to be mission impossible. what can congress do to turn this around? >> i think what obama has to do and what the government has to do is switch from a cutting conversation to a jobs growth conversation. that's what people care about. we're seeing that in poll numbers. people are concerned about the debt and deficit

jim cramer thank you was like you know the neighbors like you know where they decided to go after each other about some of the advice that's being put out there take a look. by my question to which you can't be is constant issue quite prosaic you know i don't care sturgis you can get your money there you kill people to buy bear stearns that's a very different argument from me saying we're not about whether you're in six hours we're still in still a pair ok thirty six hours you fell apart and it was fine to say there was a full court and this help or my first call was that it was ok to keep your money there which turned out to be true all i'm saying is that i don't want to get people for his chances i think things are better than they were i see here. things like that had a bit of a. nerve heard him graver obvious that something that's still hard on him but he's still saying that he thinks that things are better than they were or do you think that simon hans has a point there. yeah i mean look the real issue here is should people panic or not are the markets about to fall even further t

about that profile he's down on michele bachmann and "washington post"'s eugene robinson and cnbc's jim cramergue tamron hall has a look at what's next on "newsnation." hi, tam. >> next hour, we're following breaking news from washington and wall street. the dow took another sharp slide after yesterday's huge rebound. in the third straight day of market may hernlgs and we know the names -- we now know the names of most of the lawmakers who will make up that super committee whose mission is to cut the nation's debt, and already republicans are slamming one of the democrats selected for the subcommittee. why? plus, breaking news, three siblings who are the focus or were the focus for a nationwide manhunt. "newsnation" is just minutes away. ♪ yes! ha ha! [ clicking ] ♪ what happened? power went out, want a hot dog? [ female announcer ] oscar mayer selects are made with 100% beef and have no artificial preservatives. how'd you learn to do that? what'd you use? every project we finish comes with a story built-in. it's how our rough ideas become "you did that yourself?" so when we can save more on t

jim cramer first started talking about the fears of a double-dip if we default. now economists are talking about the possibility of a double dip here at home even though we avoided default. >> you have two things happening. on the one hand, it is entirely normal after a big debt bubble to have a slow economy during a period of deleveraging. the other problem is if you think back to what happened in 2008 when the financial markets went into free-fall on the back of the lehman brothers shock, that caused a really nasty hit to the global economy, because many businesses panicked and credit was squeezed. now the risk we're seeing right now is something similar, could potentially play out later this year. the good news is that actually, the direct exposure of most american financial institutions to the euro zone problem is not perhaps as high as it might have been. the interconnectivity is not as high as some people fear, perhaps, but the potential damage to confidence could really be yet another blow to an economy that's already pretty fragile. >> more worries and of

c nb's jim cramer is on the floor of the new york stock exchange. good morning. tell us where the stock market is this morning and why. we're in a position today where it there's no certainty. today it's all europe. we hear there's going to be breakdowns in french banks. it's not the united states that caused this today. i urge people to sit tight because where we are is a range, it's not that terrible for u.s. equities. if you've got some dividend protection, that's what ben bernanke is telling you. you won't get any money in your cash account. you could do better in stocks, but you have to understand, this is volatile and it's not for the squeamish. >> the question is how long will it last? it seems like a lot of what's driving this up-and-down stuff is stuff that's going to be lingering for some time to come, concerns about the future of the economy. >> i can't agree with you more. i think the big issue, ann, for investors right now is we're back in the huge swing moment. what i try to take counsel of is the percentage decline rather than the point decline. a

so we're going to talk about all that this morning with cnbc's maria bartiromo and jim cramer. >>> also ahead, take a look at this "newsweek" cover featuring michele bachmann. the caption is "queen of rage," but an unflattering photo that has a lot of people crying foul. we'll talk more about that, as well. >>> also, should a man be able to use social media to say bad things about his ex-wife? that's an interesting question. a judge has ordered the creator of a blog that is called the psycho ex-wife dotcom to take down that website. we'll hear from the man and his ex-wife coming up just ahead. >>> let's begin on this tuesday morning with how wall street is reacting following monday's bloodbath. cnbc's maria bartiromo is here with details. good morning. >> good morning, matt. thanks very much. the dow jones industrial average right now up 132 points after a tough day yesterday as investors are hoping for some good news out of the federal reserve today after the worst day for the market yesterday in two years. investors reed to the first-ever downgrade of u.s. credit fast and furious on w

cnbc's jim cramer and maria bartiromo join us. good morning. >> good morning. >> where is the market now? >> well, it's kind of holding in. it's actually holding at some of the levels we saw on friday. there was an element at the initial minute of panic, a lot of retail orders coming in, people at home, a lot of people thought we would be down substantially more than we are. i actually take that as quite heartening, ann. quite heartening. >> what do you think, maria? >> the market initially down turned to 50 points, because there's a lot of confusion out there. people are trying to figure out how to invest in an environment where the u.s. economy is quite fragile and perhaps worsening going into the second half of the year. >> we need to mention for the first time ever gold is now selling at $1,700 an ounce. that is the highest the price of gold has ever been. jim, it sounds like people are, however, looking for shelter. >> gold has become an integral part of many people's portfolio worldwide because the paper currency is being de

. >> reporter: cnbc's jim cramer had his own name for a market caught up in emotion. >> i'm calling it gees market, because it's emotion that has taken over. ♪ it's just emotion that's taken me over ♪ >> reporter: talk about emotion taking over, blurry photos circulated on twitter showing a plane buzzing the offices of standard & poor's, towing a banner reading "thanks for the downgrade, you should all be fired." "fortune" magazine reports it was paid for by an angry midwestern broker. >> wall street spending and another day in another day of freak-out mode. >> reporter: even keyed comedians took cover from the carnage. >> i'm looking for my hobo satchel. just remember, folks -- ! just remember over the long term stocks always increase in value. >> reporter: hey, everybody's chicken. when the market goes down over 600 points one day and up over 400 the next, even

jim cramer is the host of cnbc's "mad money." good morning. >> good morning. >> the markets are rattled for not having a deal, a long wait, but on the day the deal was signed, the markets still plunged 2%. >> yes. >> why is wall street not happy with this deal? >> recession. all people can talk about is the whole slowdown that washington triggered, manufacturing crisis that the president mentioned has made it so that all business has slowed down. jobless, probably not going to be so great. sales, bad. we're hearing company after company saying washington created a huge mess. not going away. >> to what degree did the spending cuts call for in this bill have an influence in this recession? >> a trillion dollars lost in the stock market. much of the loss is associated with companies that were doing well because of government -- some people call it handouts, i would call it spending. i think that is a huge part of the decline. suddenly realize big sugar daddy is gone away. >> you mentioned jobs. one group, liberal leaning economic po

. >> reporter: jim cramer had his own name. >> i'm calling this a beegees market because it's a motioneporter: talk about a motion taking over. blurry photos showing a plane buzzing the offices of standard & poor's toting a banner saying thanks for the downgrade, you should all be fired. "fortune" magazine reports it was paid for by an angry midwestern broker. >> spending in another day in what's being described as freakout mode. >> reporter: even comedians took cover from the carnage. >> i'm just down here looking for my emergency hobo satchel. okay. now, remember, folks, just remember -- over the long-term stocks always increase in value. >> hey, everybody's chicken. when the market goes down over 600 points one day and up over 400 the next, even the parody e-trade baby gets queasy. >> i think i'm going to be sick. >> reporter: jeannie moos, cnn, new york. >> i'm going to jump out the window now. >>> okay. we're going to try to get through this hour without puking. all right, folks? it's going to be okay. 10:00 eastern here on the east coast. 7:00 a.m. out west. wherever you may be,

cnbc's maria bartiromo and jim cramer are at the new york stock exchange. good morning to both of you. >> borng. >> 117,000 jobs in the month of july. that sounds like really good news or at least better news than anticipated. why is the market down slightly right now? >> look, i would love to tell you that our country is really in charge of our own destiny. that's clearly a better number. i don't need to know how much we'd be down without it. but this is a problem having to do with europe. an unseen worry that people could say what the heck is going on down there on wall street? it's not all that crazy. we're worried about italy, spain, and greece. this summer does not make it better. >> and worried about the u.s. yes, the numbers are better than expected for the month of july, but people recognize that there are structural changes that need to take place. we're still talking about a debt load that the country needs to get its arms around. and i think there's a lot of nervousness that we, in fact, are seeing this soft patch in the u.s. persist. i agree, it

cramer. to her left is deborah shaddon, a core team member infrastructure working group lead for crisis commons. thank you for being with us. to her left is governor jim geringer, former governor of wyoming and director of policy and public sector strategies. to his left is edward robson, an attorney with robson & robson. thank you also for being here. and to his left, martin valentine, senior manager with usaa insurance the very distinguished panel. we thank you all for being with us and we thank all of you in the audience for being with us as we begin. you heard the national alliance for public safety gis mention very briefly. we want to talk about who we are. as you can see where a nonprofit organization. activation of that and that's very important to many of the members of the spam and many of you in the room are practitioners who have worked with us and spent some time in some of the leadership teams and practitioner network that we have run the country. as you can see we done regional leadership teams and have those established at nine fema region. 3000 plus practitioner networks spread across those regions over the last few years. we represent