his name is jeremy moody. someone, not because of the color of his skin, but for a crime in his past. moody told investigators that he and his wife christine murdered this man because he is a registered sex offender. charles parker was convicted of eight sex crimes. latest offense was in 2003. the moodys allegedly murdered parker's wife as well. deputies discovered their bodies monday in their home, and there's more. the sheriff said another sex offender was on moody's hit list. joining me now by phone is union county sheriff, david taylor. sheriff taylor, thanks for calling in. i appreciate it. let me just get straight to this. moody, i know, has admitted to killing charles parker because he was a registered sex offender, but why? why him exactly? >> well, right now we don't know that information for sure. we've still been in contact with him and still talking to him. other than what he has originally told us, that's all we know right now. >> remind me, what did he originally tell you? has he been cooperative

families like the moodys, who are remembering brad moody, a richmond police officer, killed in 2008. >> it helps us to know that he's going to be remembered by the communities around us. and it's good to be around families who are going through what we're going through. >> reporter: the moody girls were 1 and 3 when their dad was killed. they have a lot in common with 8-year-old cody lassiter. >> my dad -- this is his badge number. >> reporter: he wasn't born yet when his father was killed. but pictures bring him to life. and gathering like this one, give cody a chance to share stories about his father. the memorial fund brings these families together. it's a club no one wants to join. >> unfortunately, year after year, i meet so many new families. and it's really hard. my heartbreaks for them all. >> reporter: kevin was killed in the line of duty in january. his family says it helps to know they are not alone in their grief. >> every day. we have our moments. god's been good to us. holding us up. but we're still human. and we will always love and miss him. >> reporter: those who lov

and chris moody.knew that immigration reform was not going to be easy but now there is talk of splitting it up in little parts. what will this do to this? >> there has always been talk of that. but we've asked over and over house republican leaders can a path of citizenship pass the house? they never answer. you ask them again and they won't answer. they say we're going to do our own thing, they're going to do enforcement first. here's the complicated problem. if the republicans get enforcement as one single bill what incentive do they have to go along with the democrattings laterdemocratslater for a path to citizenship. they're saying we need to do this all together. if you look at the senate bill on enforcement you've got a 700-mile wall and 40,000 new border security folks on the border there. that is a republican dream when it comes to border security. but they're not going to take it if it comes with the path to citizenship together. you got to do them together because both sides don't trust each

got a boost from a body that moody's. and my. the hudson talked about the cleansing that would come from the biggest bubble pop ever spent it ends with a bang and how to win for thanks for tuning in this week we'll be back monday with more of what's in your interest from everyone at prime interest i'm perry i'm boring have a great night. when the greats stay blind to what is happening in their country. the american dream is disappearing. the houses with gardens are laid down. the poor are left hopeless the streets are full of angry crowns the turks fighting against. heights who stole the american dream. i would rather i asked questions for people in positions of power instead of speak on their behalf and that's why you can find my show larry king now right here on r.t. question more. or . less how as a new alert animation scripts scare me a little. there is breaking news tonight and we are continuing to follow the breaking news in the. alexander family cry tears of joy and great things rather that the. there's. regurgitated or a

got a boost from a buddy that moody's took away. and michael hudson talked about the cleansing that would come from the biggest bubble pop ever and it ends with a bang not a whimper thanks for joining and this week we'll be back monday with more of what's in your interest from everyone at prime interest time terry and boring have a great night. technology innovation and all the developments around. the future covered.

. >>> now for your early look at business, we turn to cnbc's seema moody. good morning. >> richard, futures are lower as stocks could feel the heat today from google and microsoft. both of which reported record earnings. more soothing words from fed chairman ben bernanke and positive data on unemployment. >>> detroit's bankrupt filing is unlikely to affect the big three u.s. automakers who went through their own downturn in 2009. while chrysler and ford have some operations in detroit, only gm actually has its headquarters within city limits. >>> and best buy is getting a head start on the back-to-school shopping season. the electronics retailer has cut prices on apple's macbook pro laptop by 200 bucks. act fast. the offer ends next week. richard, back to you. >> sounds like a deal. thank you seema. >>> moody's upgrades the u.s. outlook to stable from negative. the push here is back for you to get your mail one day less each week. the postal service pulled the playing on the plan to yank first class mail on saturdays earlier this year. but the postmaster ge

>> reporter: well, moody's gave a big hit to the city's credit rating, knocking it down three pegs. moody's mentioned not only a $36 billion unfunded pension obligation that the city has, but interestingly, they also mentioned the gun violence that's been plaguing this city. chicago, from the beginning of the year through may, has paid $40 million in police overtime. brian? >> john yang on the news from chicago today and of course, the very bad news out of detroit. john, thanks. >>> in texas today, governor rick perry signed into law some of the nation's toughest restrictions on abortion. the new law bans abortions after 20 weeks and requires clinics to make big upgrades. already, planned parenthood says it will close three of its clinics in texas. the law takes effect in about 90 days. and in the meantime, opponents say they will challenge it in court. >>> a great deal of frustration heard today about the civil war in syria, as u.s. military leaders told congress and washington the assad regime is now winning. syrian refugees were asking secretary of state john kerry on a visit to

moody says the outlook on the city is negative. >>> another twist on the long battle to take over dell where shareholders were scheduled to vote today but that didn't happen. what do shareholders think and what is next? jackie has more from dell's headquarters in round rock, texas. >> reporter: a vote on michael dell's $24.4 billion deal with silver lake partners to take dell private at $13.65 a share adjourned until next wednesday. this as carl icon and southeastern management put forth a competing proposal, one that keeps dell public and vams the public at $15.50 to $18 a share. they say he's the right person to lead a turn around privately but dell's officer under values the company and analysts wonder if the dell offer is opportunity. >> they say no, we can turn this company around and shareholders will win. so i like their plan better than dell because michael dell, every time you turn around he'll be well off from two years from now but why can't the shareholders benefit. >> reporter: 300 plus investors attended the meeting today in cou round rock, texas. >> i'm realistic and con

debt from negative to stable and that aaa rating still intact moody's actually said the federal government's debt trajectory is on track even without further budget measures well you don't want to get sued by standard and poor's right all's well that ends well except we're just at the beginning of the end of the debt supercycle so stay tuned as we talk to michael hudson about the bubble economy and the role of the fed in just a bit. and now it's good to what's in your prime interest. treasuries are headed for the largest two week gain this year this is after bernanke you assured congress that it was way too early to make any judgment about tapering earlier i spoke with michael hudson author of the bubble and beyond about fed tapering and the true effect of quantitative easing. well quantitative easing is a kind of government spending but it's not the kind of government spending that ends up as part of the budget deficit it's pure money creation that spent on buying securities from the banks mainly their mortgage backed securities including junk mortgages other bonds so the idea is to pump mo

or moody's and their ratings it would be like a critic of the new york times or for slate magazine or some other critic to review a show when they say oh it's a bomb show in other words that's what the writer gave she's doing they're giving. a some kind of rating as a static that they like the paper that the document is printed on they thought the executives gave a good performance response saying you know acting responsibly but has nothing to do with the underlying security of these securities the renegades these are actually nothing to do with these securities in terms of their viability as an investment so it's not what they're in the business for they're the business of applying some kind of theatrical rating that people other applaud or they blew. do and has to do theater of markets to price is the is the theater of markets is priced propaganda it's completely subjective anyone who thinks its object of that there's an ironclad price that means something isn't it is going to be sucked into them all of this this cuisinart are a fraud well that's an important point to make is that p

debt from negative to stable and the aaa rating still and moody's actually said the federal government's debt trajectory is on track even with though for their budget measures well you don't want to get sued by standard and poor's right all's well that ends well except we're just at the beginning of the end of the debt supercycle so stay tuned as we talk to michael hudson about the bubble economy and.

christine moody didn't kill anybody but was present at that crime scene.s being charged with murder as well. how does had a work? >> she is a co-conspirator and plans -- doesn't have to be the one that pulled the trigger. she was in on it all along. she will face the same charges that he did. i don't think that they will have hard time proving that she was completely a part of the plan. she executed with him and they will prove all the elements they need to prove that she was part of the plan and she will suffer the same consequences as he does. >> mark, police say that moody also admitted to belonging to a white supremacist group and has tattoos on his head and neck. how do you think that could play into this case against him? speaking of tattoos, by the way. >> much like our last segment. i don't think there will be a an issue as to what a skinhead tattooed across your neck means. that's going to get into some of his background and such the reality of it is, free meditated murder from what the allegations are. as was just stated, there is no different th

families like the moodies who attended the game of brad moody, a richmond police officer killed in 2008. >> it helps to know that he's always going to be remembered by the communities around us and it's good to be around families that are going through exactly what we're going through. >> the california peace officer's memorial fund paid for the tribute. the families say remembering their loved ones at the game is a very special moment. >> very, very nice. >>> well they plan to plant a brand-new tree in pleasantton now creating controversy this morning. it's not just any tree, it's a 63-foot tall cell phone tower. it's not really a tree. but you get what we're talking about. at&t hoping to get approval to install the tower at valley avenue and stanley boulevard. but some people there, they live in that area, they fear the tower could lower property values and also cause some health issues. the city planning commission will address the new tower at a meeting set for tonight. >>> nine months later, the unexpected side effects of superstorm sandy, if you know what i'm talking about, coming

agencies like s & p are and moodies is supposed to tell you how risky an investment is. a bundle of cruddy subprime mortgages should have a really low set of ratings but that's not what happened. they got triple-a's from these agencies. investors bought them all over the world. here is another e-mail from standard & poor's, quote let's hope we're all wealthy and retired by the time this house of cards falters. that house fell. here's hoping the big house is still open. joining us now from new york is "rolling stone" reporter matt taibbi. he wrote about the ratings agencies for the magazine last move. matt welcome to the war room. >> how is it going david? >> david: i'm good and thank thank you for being here and thank you for the reporting on this. i want to start with the ratings agencies. here is the question that i had that your story raised for me. and that it answered but i want you to tell us about it. a lot of people would look at this and ask why would the ratings agencyies rig their ratings? what insensitives did they have to rig those ratings? >> well, most peo

. >>> now for an early look at business, we turn to cnbc's seema moody. >> the markets have had a very good start to the year. even despite the volatility over the past few weeks as investors fret over what the fed will do with interest rates. the dow has had its best first half since 1999 and the s&p 500 and the dow index were positive in the second quarter. >>> and it's a good time to be king. "the new york times" says the average pay for the top u.s. ceos rose 16% to $15 million. oracle's larry ellison tops the list. his pay jumped 24% to $96 million. >>> and there could be consolidation in the cable industry. reports say liberty media is eyeing time warner cable and may try to buy the company through its investment in charter communications. a combined charter/time warner cable would have 50 million subscribers. back to you. >>> we're going to tell you what's leading the news, plus the best sports highlights anywhere this time of the morning. >>> let's get you the latest in sports. june has been a hot month for a dodgers rookie. yasiel puig had four hits against the phillies and fi

. >>> for an early look at business we turn to cnbc's seema moody. good morning. >> betty, the big automakers report their june sales numbers today. june could be the best month since december 2007 before the recession began as consumers replace their aging cars and trucks. what's in a name? a judge grants kraft a temporary injunction blocking cracker barrel from sending its meats and cheeses in their stores. >>> jeep tops the list of the most patriotic brands in a new survey. jeep was the only car brand in the top ten which includes hershey's, coke and disney. >> thank you, seema. >>> straight ahead, sports highlights are next. you're watching "early today." >>> in sports, baseball honored the 19 firefighters killed sunday in yarnell, arizona. moments of silence were held for the elite team of firefighters before major league games last night. the arizona diamondbacks hung a jersey in the dugout with the name yarnell and the number 19 on the back. very poignant. >>> andy pettitte broke a franchise record for career strikeouts last night against minn

. >>> we turn to cnbc's sima moody. >> the markets have had a good start to the year, despite the volatility over the past few weeks, as investors fret over what the fed will do over interest rates. the dow and the s&p 500 were positive in the second quarter. >>> it's a good time to be king. "the new york times" says the average pay for the u.s. ceos rose 16% last year to $15 million. larry ellison tops the list. his pay jumped to $96 billion. >>> there could be consolidation in the cable industry. liberty media is eyeing time warner cable, and may try to buy the company. a combined company would have 50 million subscribers. back to you. >> thank you. >>> we are going to tell you what is leading the news, coming up. plus, the best sports highlights with betty nguyen. these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillatio

obviously moody's has downgraded these banks from a plus to a, to stable levels. i do not see more downgrades in the future. but the stock has reflected that. deutsche bank has been at the 41-42 level the last 12 months, in spite of the fact goldman sachs and other united states banks have appreciated considerably. >> what about the commodities market? we are seeing oil trade higher because of uncertainty in egypt. what do you make of that? >> egypt, of course, is not a major oil producer. however, you have the suez canal their -- there. so everything goes through that country. that is why we see the levels we have not seen since may of last year. i think technically oil my basically -- might stop here at these levels. it always does. in terms of other, oddities like precious metals, gold -- gold was up 1% today after being beaten down considerably last week. we do have some life in terms of precious metals, gold and silver. we have precious metals going up when there is uncertainty in the world. >> always a pleasure talking to you. thanks so much for joining us.

the same day detroit filed for bankruptcy, the bond rating service, moody's, downgraded chicago's credit rating to negative. among the reasons, extremely underfunded pension plans and the political barriers to pension reform. >> what chicago gets from detroit is the opportunity to see what happens when you don't address the problems when you still have a chance. >> reporter: something that leaders in states and cities across the nation will likely look at very closely. john yang, nbc news, chicago. >>> and still ahead for us on this monday night, a rather stunning new look at what's become our economic reality. where you live in america goes a long way in determining just how far you may go in life. >>> and later, the legacy and lessons of a young mother who raised her children in front of the world, including a future king of england. >>> as we mentioned, fascinating new research out tonight about america's new socioeconomic reality. where you live may determine a whole lot about your life going forward. specifically, your ability to be upwardly mobile and pursue that american ideal of

so as a student on a fixed income, she made an emergency call to lisa moody at star vista a local parentingelp agency. it was not an easy call to make. >> it's not a good feeling. it's not. like i said, i always have diapers for her. >> reporter: the journal "pediatrics" released a study today entitled diaper need and its impact on health. it found as many as one in three low-income families can't afford diapers which can cost up to $32 a box or $1,000 a year. as a result, babies sit in dirty diapers longer, developing rashes and infections. mothers feel guilty and stressed out. >> we have come into homes where they have just some paper towel or little sheet that they made into diapers to help cover that child. but that's what we're coming up against. they are trying to survive. >> reporter: since government programs don't pay for diapers, nonprofits like help a mother out have been stockpiling donated diapers by the hundreds of thousands in their warehouse fighting what many are calling the silent epidemic. michelle mackey just got some help for her son luis this week. in the past she had

after standard oil he ends up becoming the target of impeachment attempts i was elected through mr moody maybe. and they tried to impeach me not be done quite. so many the upper class went on the record saying that there was something needs to be done about the brady bill and again you describe. a month after announcing that he would run for president long was shot in the louisiana state house in baton rouge on september eighth one thousand nine hundred thirty five his bodyguards riddled the assassin with thirty bullets huey died two days later at the age of forty two. his last words were don't let me die i've got so much to do. this if we gave them all and put in after you almost dead their old companies which have been treated as adversaries have become the sophisticated allies of the powers that be with the kingfish out of the way the oil companies power in that we see and i grew unabated and they drilled wherever they wanted it's been a symbiotic relationship for about one hundred years where you have two massive employers the fisheries and big oil and it's really become a part of lo

families like the mood dis, who attended that game in honor of brad moody. he is a richmond police officer that was killed back in 2008. >> it helps to know that he is always going to be remembered by the communities around us and it's good to be around families that are going through exactly what we are going through. >> the california peace officers memorial fund helped to make this one happen last night. quite a treat for the fans as well. among the people in that crowd, family and friends of santa cruz police sergeant lauren "butch" bacon and detective elizabeth butler, two of those officers killed in the line of duty earlier this year. the families, they say, remembering their loved ones at the game was nothing short of an extremely special moment. that was fun to watch. >>> well, a group of guys certainly got some serious skills using a basketball. they take trick shots to a whole new level. trust us, you will want to sting around and catch this one. this is another video, gone viral. >>> finally this morning, yes, indeed, the worldwide web opened our

moody's investors service has raised its outlook on u- s debt to "stable".negative outlook it's had for nearly two years. moody's says it reflects a lower deficit.which is expected to continue to shrink in the next few years. >> happy friday. cloudy conditions widespread 90's! 60s in san francisco. in the lower 80s. i am not expecting a lot of fog. you can see still, tomorrow is still going to be hot tomorrow for the highs. with 98 for pittsburgh. 89 and concord. and also arinda for the east relocations. oakland, 73. richmond, union city, the east -- relocations. also, downtown san francisco the east bay locations. palo alto pushing closer to 80 degrees. heading towards the south- bay. warm but low 80s for san jose. 80s through milpitas. we are not going to forget the north bay looking decent. 89 degrees and sonoma. 86 degrees in wine country. your kron 4 7 day around the bay cooling things down on the sunday with monday and the humidity is increasing. >> honda is recalling their " fit'the electronic stability control could not stop a skit as expected. this

moody's cut the city's bond rating from aa3 to a3. it cites chicago's "very large and growing" pension liabilities, high-fixed costs, "unrelenting public safety demands" and "significant" debt load. as part of its $1 billion deficit, the chicago public school system is giving pink slips to 2,000 employees, including more than a thousand teachers. in a city overseas, government officials are using the power of gold to get people to lose weight. city officials in dubai are payng people in grams of gold to get them to slim down. ironically, fast food chains such as mcdonalds, subway and kfc are thriving in the arab emirates... we're just sayin'! coming up, is apple set to take a fall on earnings? what the charts have to say. first, though - they're watching you... the extent retailers will go to to track your every move. bill moller steps in, next. we've certainly learned just how much a fact of modern life it is to have so many of our habits tracked by the government, but also the private sector. and on the private side, data help retai

got a boost from a buddy that moody's took away. and michael hudson talked about the cleansing that would come from the biggest bubble pop ever and it ends with a bang and not a whimper thanks for tuning in this week we'll be back monday with more of what's in your interest from everyone at prime interest i'm terry and boring have a great night. technology innovation all the developments around. the future covered. download the official application to yourself choose your language stream quality and enjoy your favorites from alzheimer's if you're away from your television early just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere. controlling the seeds is not some abstraction whoever provides the world seeds controls the world's food supply arlington steel vanity fair. for the first time corporations are patenting products that are self replicating uncontrollable and irretrievable. genetically engineered pollen carried by wind insects bacteria viruses and humans has inadvertently traveled the globe.

. >>> moody's has affirmed the u.s.' aaa credit rating going from stable to negative. they cite the surprising drop in the budget deficit. the u.s. is on track to report its lowest annual deficit in five years. moody's had cut its outlook to negative in 2011, but never went as far as s&p which stripped the u.s. of its aaa rating the same year, you might recall. >>> japan's ruling liberal democratic party is widely expected to secure a convincing majority in japan's upper house election this sunday. political watchers say a positive outcome for the ldp would mean a return to the old one party dominated system and end the bickering in the japanese parliament. it is going to be a big weekend regardless to the elections. >> that's right. i think this election is significant because it is likely to end six years of political gridlock that has led to paralysis in parliament here in japan. anytime any kind of reform agenda was put to the table, it did not get passed. so the prospect of another victory by shinzo abe, the prime minister and his liberal democratic party, potenti

a serious crackdown by moody's that has top safety regulations to hit the industry coming with the oil train crash in canada raising costs for producers about two-thirds of the oil travels by rail a number of refinery outages has run down supplies it has now risen 13% just this month. and gasoline's rally pulling up oil futures settling just below the 50 month high at $105.95 a barrel. oil is now up 10% in july. that will hit drivers at the pump. that is too bad. coming up protesters fled egypt those for and against the muslim brotherhood. and 1.$3 billion in aid and we have john bolto who says leading to disaster would be to cut it off now. he is here to explain why. whether on wall street or main street says it will post the first profit in six quarters pharmaceutical companies have a sharp increase in ad revenue nding shares skyrocketing with a 25%. apparently not enough many today are the joint owners of lew.com comcast and walt disney and twentieth century foxsked for their sales it had reached $1illion but instead there will get an injection of $750 million of cash twentieth cent

and moody's and fitch are not wards of the state but we're going to move on to the next headline regarding puffery and this is when you know so much puffery confuses the population that takes it as fact british public wrong about nearly everything survey shows a new survey for the royal statistical society in king's college london shows public opinion is repeatedly off the mark on issues including crime benefit fraud and immigration so regarding benefit fraud for example the public thinks that twenty four pounds of every hundred pounds of benefits is only claimed official estimates are that just seventy pence in every hundred pounds is fraudulent so the public conception is out by a factor of thirty four but again it makes sense to feed the public a good story has no underlying economic basis so the public is financially illiterate on purpose because they're just being fed a line to keep them amused while they're shopping bester role and it's all meant you know when they have the cows lined up at the top are they go down the zigzag path and they have people petting them and showing them pi

so as a student on a fixed income, she made an emergency call to lisa moody at star vista a local parenting help agency. it was not an easy call to make. >> it's not a good feeling. it's not. like i said, i always have diapers for her. >> reporter: the journal "pediatrics" released a study today entitled diaper need and its impact on health. it found as many as one in three low-income families can't afford diapers which can cost up to $32 a box or $1,000 a year. as a result, babies sit in dirty diapers longer, developing rashes and infections. mothers feel guilty and stressed out. >> we have come into homes where they have just some paper towel or little sheet that they made into diapers to help cover that child. but that's what we're coming up against. they are trying to survive. >> reporter: since government programs don't pay for diapers, nonprofits like help a mother out have been stockpiling donated diapers by the hundreds of thousands in their warehouse fighting what many are calling the silent epidemic. michelle mackey just got some help for her son luis this week. in the past she ha

if a rating agency, let's say, moody's, does not provide a triple-a rating that the bank wants, the bank can then take its business over to fitch or s&p's. that's called ratings shopping and it continues to this day. the opportunity for ratings shopping creates incentive for the credit raters to give out triple-an ratings even when not warranted and that is exactly what happened. and it happened over and over again. it became ingrained in the culture of the industry. the permanent subcommittee on investigations chaired by senator levin took a close look at the big three rating agencies, examined millions of pages of documents and released an extensive report detailing the internal communications at moody's, s&p, and fitch. among the many troubling e-mails, there's one in particular from an s&p official that kind of sums up the prevailing attitude quite nicely. quote --" let's hope we are all wealthy and retired by the time this house of cards falters." with all the risky bets in the financial sector and bets on those bets, our financial sector indeed became a house of cards. but without

borrowed an additional two hundred ten million dollars we also have chicago which was downgraded by moody's last week this city is having to make tough decisions between funding pensions and their schools they're making balloon payments just to keep retirement funds from going under and laying off teachers to meet payroll and then me said lot called philadelphia effectively bankrupt is the fifth largest city and the u.s. they have about nine billion dollars in outstanding debt and their pension system is only forty five percent funded and addition cities all across the country are facing sharp population decline the top ten are detroit chicago. go philadelphia st louis missouri we have cleveland ohio pittsburgh baltimore buffalo new york to new orleans and cincinnati and these cities can't manage the leading population they can face and when doing tax base leaving to financial chaos as well so is detroit too big to fail some have already called for a federal bailout technically we can bail out these cities on a nominal basis but at what long term cost meaning the threat of price inflation a

depression prevention has been solved finally detroit would be in the sewer but that doesn't stop moody's from upgrading its outlook on us from negative to stable and the aaa rating still into a wooded.

lou: joining us now are economists and the moody's chief capital comments. what you make of this? thought we were supposed to have a pullback? >> we have pullback from this that that is going to hang in there. we are talking about how this u.s. economy can move forward without extraordinary support. lou: much can be learned that is quite different than what we experience. %-have you adjusted your earnin? >> welcome i'm a little bit hesitant to do so. i. >> it has been bolstering the economy. >> building materials are sharp, that is a surprise. we also find that stocks that are key to the housing sector have been moving slower. there is some concern that this latest upturn by the 30 year mortgage, about three and a half precent, now it's one half precent. it could bring about home sales, which is not good, given that this has been a relatively weak recovery by housing from this broad historical perspective. >> the fed is limited as to how much they can influence it. >> one thing they might do is the one they began to taper off monetary easing, they cut back only on the purchase wer

what's what's different about this than the system that we had before i was reading this morning moody's chief economist mark zandi was saying that the jobs markets really remained unchanged since the fed has been stimulating the economy you know we're good they say we're growing at one hundred seventy five thousand jobs a month but we've been doing that for two years and that's where we started when we were at q.e. three so we haven't really seen the fed able to pull off their mandate their end of the bargain which is you know keeping unemployment low even when they started q e three so i think the fed is if anything they've had a deleterious effect on the economy not overall and where do you think the fed is going to go jawboning about. taking their foot off the brake pedal but can they really do it are they going to have to reverse at some future point even if they do they absolutely will have to reverse at some point i think ben bernanke he does not want to reverse i think they're right now they're going to have to hedge their bets they're going to keep their going to keep inflation