of this year to be replaced by charles schwartz, the global head of securities. >>> joining me, john silvia chief economist at wells fargo. john, good to have you here. let's get right to it. this market is making some mysterious moves. what do you divine what is going on after ben bernanke said, here's the money? >> well the market responded initially to the liquidity the fed was going to provide in the marketplace. lou: endless, infinite. >> qe inifiti, yes. all right. but the second problem is, you have have real economic growth to justify the earnings and earnings estimates and think what you've seen is weaker orders, higher inventories, slower final sales. we're looking for gdp growth of maybe 1% or so going into the fourth quarter. i think the comment on fedex re-emphasizes that the chinese economy is weaker. we've got news that the euro is still working through its problems. so we don't have a resolution in europe. lou: but still sitting up there at a buck 31, right? >> still sitting up there at 1.31. lou: what does that tell us? >> it tells us we print an awful lot of money because

coming up here tomorrow, the chief economist wells fargo, john silvia, of the former federal -- federalcutor, joe klein will be talking about the issues that are straightforwardly central to our future in this country. we're coming right back. lou: this is the one-year anniversary of the group formerly known as occupy wall street. moving on to other news the wisconsin state attorney general seeking estate and a surprise ruling friday when a wisconsin state judge threw out the law in the collective bargaining powers for most public workers. that ruling has from the state into some confusion. one major union representing nearly 5,000 teachers says it will demand in contract negotiations in light of the court decision. has not decided whether he will take the case directly to the state supreme court or to an appellate court first. obamacare propaganda coming to a television near you in california at least. the new york times is reporting that california is paying a public relations firm nearly a million dollars to try to convince hollywood producers to promote obamacare. even worse, califo