i'm talking about the great old levitation our guest jim graham founder and publisher of grant's interest rate observer will explain and as the eurozone crisis reportedly spooks markets germany continues to be the horn on the size of the money changers germany reportedly says leveraging the e.s.m. to two trillion dollars is not realistic and after the buddha's bank voted against unlimited bond buying remember president gave a speech recently warning about money printing plugging gold as a medium of exchange a very interesting we'll talk to our guest about it plus what happens when j.p. morgan's bullish i phone five g.d.p. forecast collides with fed ex is a recently reduced more bearish economic growth outlook well that's what it looks like at the distribution center according to write it won't talk i phone five indicator let's get to today's capital account. to bloomberg reports u.s. investors are buying treasuries at a faster pace than foreigners for the first time since two thousand and ten undeterred by record low yields that's pretty nice of investors to help enable uncle sam sixteen

small so exacting down to that less than half a percentage point let's turn to our guest though jim graham founder and editor of grant's interest rate observer in new york for more so first jim grant thank you so much for being on the show always work pleasure or the pleasure is all ours because first i just have a really simple question in light of that report you cited in your latest grant interested observer how on earth can one project with any degree of accuracy or humility economic growth for a fifteen trillion dollar economy anyway. one can do as you suggest but neither with accuracy nor with humility. the contention of the federal reserve bank of new york that to this so-called quantitative easing a persistent one half of one percent or less a year to growth. is less than impressive when one considers first of all that the estimate probably can't be done anyway but secondly. that one half of one percent is to testicular insignificant and furthermore that we've vision's to prior estimates of g.d.p. growth average more than one percentage point so it seems a most dubious claim for a

i'm talking about the great old levitation our guest jim graham founder and publisher of grant's interest rate observer will explain and as the euro zone crisis reportedly spooks markets germany continues to be the thorn on the side of the money changers germany reportedly says leveraging the e.s.m. to two trillion dollars is not realistic and after the buddhist bank voted against unlimited bond buying remember president gave a speech recently warning about money printing plugging gold as a medium of exchange a very interesting we'll talk to our guest about it plus what happens when j.p. morgan's bullish i phone five g.d.p. forecast collides with fed ex is.

you know it's a big deal when this guy shows up, jim graham showing up. look at that. free to show my new shoes. i wore this just for you. and the bow tie you made from your tablecloth. everyone is happy around here now, because that whole street scape project has finished. been a long time in the making. >> we survived it. we have come out on the other side with this beautiful broad sidewalks. people have to see this to believe it. >> reporter: the business owners had to endure that year and a half, so they really paid for it. >> and the residents. >> reporter: and the residents. >> and the residents. everybody involved had to go through this. but we knew that at the other side we would have this great plaza. and it's ready for one of the best days in the district of columbia, which is adams morgan day. >> reporter: which is why it's running for so long, 34 years. >> absolutely. >> reporter: still running. is the street scape another example of how d.c. is embracing the tradition that exists, but sprucing it up at the same time? >> in ward one we have street scapes in

jim demint. we have from our junior senator, lindsey graham.yn: dick harpootlian, thank you for being here. >> thank you, and thanks for the foo fighters. megyn: you'll hear 'em later. coming up, were mitt romney's tax records stolen? hackers say they've gotten them. we'll have the latest on the secret service investigation into that claim. okay, team! after age 40, we can start losing muscle -- 8% every 10 years. wow. wow. but you can help fight muscle loss with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! megyn: new developments in a secret service investigation into claims by hackers who claim to have stolen mitt romney's tax returns. they posted letters threatening to release these alleged returns to the public unless he pays

institute of public policy at rice university and you'll hear from jim necker later this morning at the belfry center at harvard university, grahamlison and his crew. the hoover institute at stanford university, john taylor to hear from later. and former ceo -- cbo rather, direct or rudy pinner who is here this morning and has been invaluable and his advice and guidance. or also working to full cooperation of the campaign to fix it at shared by new hampshire senator judd gregg and ted randel and lead very capably by the committee for responsible federal budget, president brian mcginnis. not sure whether my has made it here today, but she is doing an outstanding job and working on this fiscal arena. were also working closely in this quest with fiscal sanity as i call it with david walker's comeback america initiative and peter g peterson foundation's ongoing and invaluable efforts to call attention to the fiscal challenges that threaten our nation's future. finally i think all 35 of our former senate colleagues who have signed onto this initiative and whose names you will see in your program. we are honored to have with us on this

rory mcilroy and graham mcdowell within the first to tee off against jim furyk and snedeker. >> so we're hoping for him. no tiger/rory match-up today. and you remember somebody -- norman said that rory mcilroy intimidating tiger. nobody intimidates tiger. >> you would. >> i don't intimidate tiger or his caddie. he got rid of that thug. i think he's now with adam scott. but then the guy said adam scott won some average tournament and he said it was the greatest caddying game. i think he's a kiwi, isn't he? anyway, now today's weather forecast. alex wall larks i was trying to find out when on nbc the ryder cup starts today. >> i'll find out. >> alex, you're a renaissance man. you don't just know about rain, do you you? is there rain in illinois? how about that? >> it looks like the rain will be sinking just south of illinois, maybe a few showers this morning. but later today should be a little drier. >> who is it on today? >> espn today. #:00. >> never mind. 8:00 a.m. somewhere else, not 8:00 a.m. here. >> central time. >> nothing happens in the first hour, alex. don't turn it on until 9:0

graham adds that despite the current economic pinch, which for some people is more like a paralyzing cramp, he says black voters as a whole are the most optimistic in the country. doreen and jim, we'll have more from the convention coming up tonight at 11:00. >> michelle obama is the big attraction this evening, right? >> reporter: yeah, she is. as a matter of fact, she tdid a little walk-through yesterday up on the stage. there were, i guess, i don't know, 3,000, 4,000 people in here. they erupted as though, i don't know, maybe lady gaga was on stage. she's -- mrs. obama is a rock star down here. >> but she's a much more tasteful dresser. >> i was going to say. better dresser than lady gaga. >> i couldn't agree more. >> see you at 11:00. >>> our coverage of the dnc continues here on nbc 4. brian williams anchors "nbc nightly news" from the convention in charlotte. that's coming up right after this broadcast. >>> right now polls are open for thousands of northern virginia voters for a special election. it's for virginia's 45th district which includes parts of alexandria, fairfax county and arlington county. three men are running to replace david england who stepped down from