. >> let me bring in ron insana in here, a long-time cnbc anchor and now contributor on all of our platforms when it comes to the economy. ron, you brought this up first, i think. we're not saying there's a connection. >> no. >> not only that united airlines the more we've been reporting on this this morning, there have been complaints that its system has been out of date for some time. that this is an old system. this was a system being held together by chewing gum, to use a bad metaphor. that is not the case with the nyse. >> reporter: no. this is a highly up to date technology that has been reworked over the last several years to become almost a completely electronic exchange chuck. the floor population, which was back in the late 1990s totaling as many as 3,000 people is down to about 400 to 500. so this is now an electronic routing system. we have multiple exchanges really that exist in parallel with the big board. the nickname for the new york stock exchange. in fact if you take a look at the new york stock exchange today versus where it was in let's say, the year 2000 they have about

let's bring in our cnbc contributor ron insana. as you look back let's start with greece.w some parallels to germany under the republic in the '20s and early '30s. >> a lot of people tried to draw those parallels with the united states saying the federal reserve had gotten so generous with its balance sheet we were facing hyperinflation. let's take all military and political issues aside. greece is in a depression. in 1923 germany was facing hyperinflation that was a result of the aftermath of world war i. >> and the represent france insists that germany pay extraordinary reparations for it the damage they did during world war i and to finance that they printed their own money. it was called wheelbarrow money. greece brought this on its own, as germany did in its own way. you've got a depression. should they exit the euro and did. >> start printing their own money that is going to be devalued, people would get hurt. >> i bet they would face a depression and hyperinflation. a debt burden is virtually unpayable for a economy that's three-quarters the size of indiana. >> when

but first back over to mandy and tyler. >> more on the market slide, ron insana joins us now. pisani points out the s&p is down so far 2% on the week but that's not the half of it. when you start to look at individual names despite what google, despite amazon energy worst week of the year in that sector. a lot of those names, not to mention the miners db. >> looking for $80. copper which is down to $2.35 a pound. the entire commodities complex has effective live crashed over the last year. >> what do you think is the main culprit? stronger dollar? >> i think it is global growth. think china is far weaker than people realize. i think our market is deteriorating to the extent that i think is correction may be in the cards. stocks making new 52-week lows on the new york stock exchange well over 300 today. that's a type of technical divergence you don't like to see. >> a point bob made just a few minutes ago, the number of new 52-week lows versus the highs. 3-1 negative. you mentioned china. we were going to talk about it but it sort of got "trumped." >> i don't want to go there.

to explain that better than i can, are some of my folks, colleagues from cnbc mary thompson and ron insana. also chris jansing at the white house. ron, let me start with you. picking up a little bit, but explain why -- how much of the new york stock exchange and stocks that are on it can be traded right now elsewhere? >> chuck, in many cases almost all of them are listed on multiple exchanges or so-called electronic communications networks that are independent stock markets away from the new york stock exchange. my understanding of the market share that the new york stock exchange has in the stocks listed there is now somewhere in the neighborhood of 14%. if you go back to the year 2000 it was about 85%. so stocks that trade on the new york stock exchange trade on nasdaq, they trade on other exchanges that are independent and so that's why we're seeing the market still move. the dow was able to move. the dow is comprised of other stocks that trade away of the new york stock exchange on the nasdaq like microsoft, intel and apple, so we're seeing activity. the question though is the benchmar

joining me now, ron insana.s a good report not spectacular, though, in terms of the numbers of june. but nearly 500,000 also gave up looking for work. in addition as we were checking those numbers for april and may, 60,000 fewer jobs were created than originally reported. add it all up what do the numbers tell you? >> the economy may not be accelerating as well as people hoped. it's strong enough to be consistent with 2.5% maybe 3.0% economic growth if some of the other data would accelerate in housing and manufacturing. but it's just soft enough that it raises a question as to whether or not the federal reserve needs to start raising interest rates anytime soon. so i would kind of rule out the market response today. we're going into a long holiday weekend. you've got the greek referendum on sunday. the chinese market was down last night. there are other factors thatfor people to keep their wallet on their hip today. >> you mentioned wallets. in terms of hitting home for those who are working, only tepid wage gr

let's bring in cnbc contributor ron insana right now. you've been saying for quite some time forget greece. it is important but not as important as what is happening in china. >> just to put this in perspective, the market cap losses in china are ten times the size of greece's gdp. so -- and ten times the size of the outstanding greek debt. not that that would be very easy for europe to write off or absorb. greece is clearly a problem but china having fallen now 30%, what worries me more is the lack of response last night to what as eunice yoon described, bring region out guns blazing to support the market then not having it work. >> if they. haven't run out of bullets, but the bullets aren't working. >> they may have run out of the most important bullets they would have had. infrastructure spending. they spent 6 trillion inn in the past several years on uneconomic projects. what can you do to stim lapt the economy economy i think the markets are reacting more to china than greece. >> how much of the market value lost in china is anythin

genevieve woods, senior contributor at the daily signal part of the heritage foundation and ron insana making his debut as a panelist this morning, and from urban radio network, april. i know you were up live and tweeting early. so you're paying attention to what the president was saying. what did you make of what he said? >> when traveling overseas he wants to make a point of human rights and talk about things that are current, particularly issues of women and girls. one of the things that he is really championing in washington and in the states. it was interesting to hear him talk about genital mutilation. he talked about that's not right and the crowd kind of -- they didn't clap as much on that one. that one came after the confederate flag issue. i was surprised to hear him bring up the confederate flag and talk about that as well as it relates to old traditions that don't bode well in either country, kenya or america. i thought the president carried on what he does. i saw an infectious crowd, so happy to see him. i mean he is a native son, to a certain extent. his dad is from kenya

cnbc contributor ron insana is here us with now.s the big question, you know, would they come out in the right numbers, first of all? if they did come out with the right numbers, would they go no or yes? the early indications show no. >> not great news. >> it is the end of the world? >> for greece it s they'll have no access richard, to any credit outside the country. the banks are down to $600 million euros in the total system. if they allow people to take out 60 euros a dacht you go through that money quickly. they have a day or two much cash in the banking system itself. there is no guarantee if the no vote wins that the european central bank will provide additional liquidity. they have no current bailout agreement. and the imf to whom they defaulted last week will also not offer them any credit. this could be a very serious event, certainly in the short run for europe and in the longer run for greece. >> so they defaulted on that big payment of over 1.8 billion. the first larger everything that you can say about it. what we're n

>> joining us is the aforementioned former anchor of "street signs," ron insana joins us. sue is here at post nine. this is like -- what am i? is the business center in 2003? >> it's business center du. >> when sue and i used to go down to the floor of the new york stock exchange when there were 3,000 individuals populating the floor of the big board, it's down to less than 500 today. there were specialists who paired off, made individual stocks. it's as if chicago is no longer an open outcrisis tell with guys on the floor. it is electronic as well. this is where we are dependent on the technology that we have and these things will happen from time to time. as we've heard, it doesn't appear to be a cyber security. the actions that took place at united, at the "wall street journal," at the new york stock exchange are set to be unrelated. so look these glitches have occurred on numerous occasions over the last many years. used to be almost solely the province of nasdaq where i think dick grasso joked many years ago, the former head of the stock exchange a squirrel ate throug