mr. steve forbes is with us today. >> very exciting. first back to stocks. the dow down over 200 points. look at that, 272, as the closing bells sound on wall street. david: okay, well, as wall street ends the day, here's where everything else is ending up as we look down. nasdaq had been leading us down in the markets over the past couple of weeks, not so today, but meanwhile, let's get an overview what happened today. it was a very interesting one, starting at 8:30 when we got the jobs report. again the unemployment rate came down a couple of ticks but the expectations were for a much stronger growth of jobs. we were off about 45,000 jobs from where we thought we'd be. gary kozlowski watching the pits from chicago. adam shapiro's today's biggest winners and losers and lori rothman. tell us what happened? it looked like we were going to recover. the market down 350. they began to recover, we were in the 100 range at about half hour ago, but traded down towards the end of the day? >> let me just set the scene by reminding everybody chinmarkets were closed. s

mr. steve forbes. please state your occupation and qualifications for the testimony today. we've been following the federal reserve since its inception. my grandfather wrote about the federal reserve in 1912, 19 of the senate was created in 1913 but the mechanism is put in place before that so we've been following for a number of years and the we co-authored a book called money on how the federal reserve is made worse not better >> the economic crisis like the great depression in the 1970s and the recent debacle is caused by government mistakes they printed the terrible inflation and wreaked havoc around the world. in the early 1980s they stopped it. people say that he's the head of the fed didn't he stop the inflation tax us and then he put it out. but why set the fire in the first place? and do you have it as john ellison pointed out in the early part of the last decade would when he created excess money that led to the commodity bubble into the housing bust and then the other thing that is recognized as since the crisis of 2008, 2009 if the principal reason why we have t

mr. steve forbes is with us today. >> very exciting. first back to stocks. down over 200 points. look at that, 272, as the closing bells sound on wall street. david: okay, well, a

he's worth at least $10 billion with a "b" dollars but "forbes" magazine says he's worth less than half of that. much to the chagrin of mr. trump. steves will join us to break down those numbers. that ought to be very interesting. hey you're watching cnbc first in business worldwide. my name is chris hughes and i am a certified arborist for pg&e. i oversee the patrolling of trees near power lines and roots near pipes and underground infrastructure. at pg&e wherever we work, we work hard to protect the environment. getting the job done safely so we can keep the lights on for everybody. because i live here i have a deeper connection to the community. and i want to see the community grow and thrive. every year we work with cities and schools to plant trees in our communities. the environment is there for my kids and future generations. together, we're building a better california. jo all right. breaking news on gap. courtney reagan has the details. >> that's right, michele. we have breaking news on both gap and ralph lauren. stay with me here. old navy global president steffen larson is going to be taking over as ceo of ralph lauren whic

mr. obama's meager offerings. we take it up with forbes media chairman, steve forbes, and lieutenant colonel ralph peters among our guests tonight. >>> our top story, the changing fortunes of the republican presidential candidates. donald trump remains the favorite of iowa caucusgoers, but wisconsin governor walker has seen his prospects plummet. and it's becoming increasingly clear that having washington experience is a huge negative. fox news chief political correspondent carl cameron with our report. >> reporter: former texas governor rick perry has withdrawn from the republican 2016 presidential nomination race, and did so this afternoon in a speech. >> today, i'm suspending my campaign for the presidency of the united states. we have a tremendous field of candidates. probably the greatest group of men and women. i step aside knowing our party's in good hands. >> reporter: a pair of nonpoliticians have broken away from the pack in iowa where wisconsin governor scott walker who led polls two months ago is now tenth. the next debate's in five days. trump leads but ben carson on his heels. the rest are far back i