next guest says the crisis is one of leadership, no doubt. ,oining us now is mike regan who is writing about but those topics, the bond markets and lending club -- lendingclub. what you make of this? have we not learned from our own mistakes? mike: there is a great story on , profits are falling my valuations are about the highest they've been in a decade. -- falling, valuations are about the highest they've been in a decade and we just had the worst job growth in six years. it just goes to show that for a long time, valuations did seem to keep the market in check. it never got too far ahead of itself. today, we are at this peak for valuations. it's interesting because high valuations don't necessarily kill a rally or cause a bear market or anything like that. it is concern about a recession. deteriorating outlook for the economy and interest rate stocks that cause mass crashes. the perception among investors is the fed is backing off after this week jobs report. the economy,or people are not quite sold on the idea of a recession. you do get this exuberance that sends valuations higher

also with me as mike regan. thank you for making time today.t we have seen stocks mount a comeback, they are dithering right now, but they attended a comeback in the wake of this disappointing jobs report well all the other asset classes, whether it's the dollar has stayed where they were following this number. jim: i do think when you step back and realize the job numbers payroll friday is always a volatile number, subject to quite a bitter vision -- a bit of revision down the road. if you look at the gamut of jobs reports, from the adp report to the claim numbers, to the national foundation of independent business job surveys -- you get a sense that this job number is probably a one off on the downside, that growth in the economy is probably still around that 2% that it was before. i think when the violent emotional reaction of the open selloff, we may see this again, i think for a lot of investors looks more like a buying opportunity, as the motions may be calm down in the next few weeks. and the fact that the fed has been backed off for lit

regan. ♪ >> rock singer meatloaf is knowa good condition after slapsing on state the 68 year old was performing in canada he docked c his mike the floor. his represent says he was suffering from dehydration. the singer had postponed a show earlier in the week due to illness. best known for 1977 album bad out of hell and i will do anything for love but i won't do that. >> major back lash against pope francis after the pontiff made off the cuff comments. >> pope francis said thehe majority of catholic marriages are invalid because they don'ton realize it's a lifetime commitment. many are calling his comments ridiculous and irresponsible. i >> maybe they should be clarified if that's exactly what he meant. m >> something else will come out of it.ng >> i'm sure. 82 crew coming up at 11 a burger joint with a famous owner is coming to dc jostle jot firstost major shutdown goes into effecte tomorrow. know before youor ride the rails. 82 john wait until you hear how much money somite paid for two court side ticket to game seveng of the n ba finals it is a record number.um that's coming up tonight at 11 . by supporting the doctor-pat