population stabilization critical to restoring the environment.e nationwide celebration produced a particular groundswell that spurred congress and the nixon, ford and carter administrations to enact a host of sweeping environmental laws including president nixon's national environmental policy act, often referred to as the nation's environmental magna carta. >> i mean, they really did a phenomenal job of studying it. it was a very scholarly approach. they had economists, environmentalists, everybody else, trying to look at the whole effect of population growth on the globe. the interesting thing is that nixon set it up. and nixon was professed upon it, he really kind of understood it. and it just became this big political brouhaha. and they kind of panicked and backed away. >> bonnie: a common recollection of aging population activists is the night in 1973 that it was reported that u.s. fertility rate had reached zero population growth. most people thought that meant the u.s. population problem was over. in fact, because of what demographers call

books. >> it is a large country and we have stability here. we enjoy stability. we have a permanent constitution. it has been amended for a number of times. i recall that once you asked me in one of your interviews, is that the president being elected only by the parliament means some sort of incomplete democracy. at the same moment, that moment i was ready to propose amendments to the constitution and we amended 34 article that was unprecedented. this is in the interest of stability, in the interest of insuring people about future. it is not small country on which we take decisions just like that. it is a stable country and it will remain a stable one after mubarak and after the man who comes after mubarak. >> charlie: speaking of that, there are those who believe that you would like for your son gamal to come after you. >> this was never raised between my son and myself. he started his career in banking with bank of america in london and then he turned to egypt. and he was against joining the party and it was only after a long effort that he joined the party. i

secondly, as a result of european stability, which is under the financial stability regime until the irish commissioner, there we support the new rule book that is going to be drawn up by the european banking system. we will be part of that system, and rightly so. individual institutions will be regulated by our own financial services authority. but i think it is right, not just throughout europe, but throughout the world to seek a common set of global rules and standards, that financial institutions operate in many countries have got to follow. we are right to be part of the europe january system, but we want to see it as part of a global system in future years. >> it seems to be forgotten that the cancer in the banking crisis, which destroyed confidence in the system itself , in attempting to rebuild it, can you reasure the ordinary citizen that refashioning the banking system will result in one in which people do have trust and confidence in that system but also feel they are getting a fair deal from it, which they do not feel at the moment? >> i understand that. the behavior of b

we are very kn there shode stability and no stability unless we have the palestinians, the inner problems and association with them. and assistlso as regarding the meeting between th authority, with the israeli goverent. or didanyou mee' something else. charlie: no, i djtd. i meant exactly that. there are some who sgests that ere ought to b a syrn track. go to damascus, that's wre you start because the he influence wi hamas. >> i don want ttalk about syri by the fact some problems wi them but it isan arab state. t we cannot stop. they can imped maybe tough terference by iran because they had political offers in damascus. but th people, looking for peace, en people in gaza, they want peace. and if the ople wanted to have peace, nothing can stop when therare military attacks on gaza. many people were killed and many buildings re destructed and were smuch impacted with the boer lines with us. and people want live a i lled the minter of defense and called for stopping this. we iited the pre minister of france, and they were with us. anthis was stopped, ts has to stop because peoe want to live

i think macroeconomics stability will support financial stability and financial stability will support macroeconomics stability. the federal reserve is inevitably involved inhe financial stability because we have the lender of last rort and because we have the responsibilities that you gave for macroeconomic stability so it doe't matter in some sense when the financial sbility regulator will be in regulator will have to be involved and i think there are synergies makg the federal reserve a little extra power to do that given our current authorities. >> thank you completely unrelated area i am pdrsonally concerned with the purchase by the fed recently and an increasing amount of long-term bills and i am not sure the american public is fully aware of this situation. it is obviously arcane and something that may not be on the front pages ofewapers. could you update us on a word recent purchases and where they are in relationship to where they might have been a year or so ago? so we have in march the federal open market committee decided to pubchase up to 300 billion of the treasury interm

>> we are working on thi we are very keenhere should be stability and no stability unless we have thealestinians, the inner problems and sociation with them. and assist als as garding the meeting between e authority, with the israeli govnment. or did you mean something else. >> charlie: no, i djtd. i meant exactly that. there are some whouggests that there ought toe a sian track. go to damascus, that'shere you start because tyave influence th hamas. >> i d't wanto talk about sya. by the fact some problems th them but it is an arab state. but we cannot stop. they can impe, maybehrough interference by iran because they had political offers in damascus. but e people, looking for peace,ven people in gaza, they want peace. and if thepeople wante to have peace, nothing can stop when the are military attac on gaza many people were killed and many buildingwere destructed and wereo much impacted with the rder lines with us. and people wantto livend i called the mister of defense and called fo stopping this. wenvited the ime minister of france, and they were with us. d this was stopped, thisas to stop bec

is stabilizing. i got the feeling maybe he needs to see one more quarter of pretty good stabilization in offered to really call this a turnaround. i don't know that i would say necessarily that he believes that we're seeing a real turn around here. and china was the highlight of our conversation. he said the business in china strong, double digit year over year. really helped the entire asian region. europe no change as i mentioned. another issue a lot of people are talking about is the printing business. printing was somewhat of an issue according to some analysts last couple of quarters. he said the bottom line on printing inventories are better. that is very positive today. we're happy with the printing business. margins up 100 basis points. mark herd feeling good about the most recent quarter. let's get some more experts into the conversation. tell us what it says about the broad economy and the stoke market performance and how this sets the tone for tomorrow. brent brace lynn is with me, senior

, there will not be stability even in israel. violence will reoccur. we are doing our best to bring about stability. >>> there was another meeting of note today on russia's black sea. russian president dmitry medvedev got together with the israeli president, shimon peres. among their topics, middle east program. back in israel there were reports that israel has vowed from pressure from russia and has halted housing projects in the west bank. the israeli government has issued no construction permits there for months. >>> staying in the game in this global economy means keeping up with technology, but in parts of the world where resources can be in short supply, it's often a surprisingly low-tech solution that carries the day. case in point, kenya, africa's first cell phone's powered only by the sun recently went on sell there. the phones which sell for $40 are expected to be very popular in the country's remote rural areas where electricity is often in short supply. >>> and in those rural areas kenyans also face another shortage,

consumer any way shape or form the job market is down and housing has got to stabilize. it is a very critical time for home buyers especially if one of the bend of the $8,000 a tax credit would you have to do is find a home negotiated price wheat your loan approved and close all before november 30th and if he can do that within four months i consider that a miracle. it is a busy week this week for housing key indication do on the real-estate market homebuilder's index on monday starts and permits and new housing market look on wednesday and by the end of the week existing home sales and a lot rests on finding some kind of green shoots in the housing market. the state of housing in america has been showing some small signs of stabilization ahead of this week's reports on home contruction and sales. while activity remains a fraction of what it was at the height of the boom 2 or 3 years ago, this summer has seen some indication of a pick-up. start with new construction. in the summer of 2005, new home starts were running at an annual clip of more than two million. just two

why is the dollar going to stabilize? >> i think you're going to see more growth in the united states and things will turn around in the long run and the dollar, just the fact that it is the dollar, the world currency, will stabilize here. >> the world currency. doesn't mean it has to stabilize. it may not be the world currency in ten years. that's one of the bernanke issues, allen. >> i imagine it's going to be the world currency. i really do. >> but doesn't mean it can't be sold. >> that's true. but i think we're -- i think it's going to range here. i don't see it going down much and i don't see it going up much. >> we've got to get out. mike and allen thanks a million. i just put some challenges into that conventional wisdom. coming up next, rising home prices across the nation. that's right. rising home prices. is this the sign we've been waiting for? is the housing recovery upon us? we'll discuss this joyful story. >> and consumer confidence also on the rise. will consumer spending follow suit? we'll discuss the road

in short, good monetary policy and financial stability in my view are complementary. asset booms and busts have destalled the market and systemic regulation and oversight and an policy tools required for each overlap substantially. that may explain why the other countries that separate such responsibilities from the traditional role of the central bank have fared no better than we did in this crisis. the u.k. is a good example. while the bank of england and the financial services authority have collaborated in the recent crisis their separation of powers did not help manage the current crisis more successfully than u.s. regulators. however, naming the fed to this role won't solve all of our problems that i just enumerated. i outlined some related remedies. in my view our regulatory system has three major shortcomings wi supervised institutions rath than financial activities which allow some firms to take on risky activities within adequate oversight. a focus on systemic risk is one remedy for that problem. designating the fed to take will limit the financial activitie

. >> pau hewlett-packard says its businesss stabilizing. t the maker of computers and printers still saw 19% drop in eaings as sales fell from year ago levels. >> susie: rget and home depot are also coping with saggi sales. but thretailers both boosted eir outlook and that helped stocks return to rly mode. >> paul:'m paul kangas. susie: and i'm susie gharib this is "nightlyusiness report" r tuesday, august 18. "nightly business report" is made possib by: this program wasade possible contributions to your pbs station from viers like you. ank you. >> susie: goodvening, everyone u can cross inflation off yo worry list. a new reportoday from the labor departmenthows that producer prices, a msure of wholesale ination, fell almost 1% in july, ch better than excted. e so called core rate droppe unexpectedly by 1%. at least f now, the data is reassuring news for people concerned that inflaon could make a comeback. erika miller reports. >> reporter: salad greens e costing a lot ss green at the olesale lel. falling oduce prices are one reason produce

it has largely stabilized despite rising unemployment and g.d.p. the making work pay tax cuts and improvement in confidence and the administration's other actions almost surely contributed to this stabilization. at the same time that consumption fell slightly after rising slightly in the first quarter could be a sign that households are using the tax cut mainly to increase their savings and pay off debt. obviously we will be monitoring the behavior of consumers closely as we move forward. because the evidence from the path of the economy overtime can't settle the issue of what the effects of the recovery act have been, it is helpful to also look at other types of data. in particular, i want to mention two kinds of comparative evidence. the first involves comparisons across countries. countries responses to the scricis have varied substantially. one can therefore ask the question whether countries sha that have responded more aggressively seem to be recovering more quickly. to get a forecast of this, we looked at forecasts -- to quet an understandin

toll, you said today that you're seeing signs that the housing market is stabilizing. can you elaborate on the trends that you're seeing. >> about six months ago we would see the average buyer about 8 to 10 times. and probably the only question that was being asked was can you give me a few more dollars in incentives. can you knock five or $10,000 more off the price of this home. otherwise, i don't think i'll be able to buy. whereas now we see the client buying after five or six visits and being concerned after the first couple to establish the price with can i get the garden room. can i get -- can i put an add-on for a musk room. can i have a mother-in-law suite developed in connection with the home. so we're now back to primary interest of the home itself as opposed to being concerned only with the price. >> now you also mentioned today that you're seeing people are realizing that this is a buyer's market is that translating into a new orders and actual contracts? i mean what is, can you expect for toll brothers this fall? >> where i see it in the fall is only to ext

>> they have stabilized temporarily. the problem with home prices, they're very difficult to measure in regional data. i don't think it's going to happen. it is possible that we could get a second wave done. but an important issue is, if we don't, and i think that we don't -- i think the probability is thawe won't. we're close to stabilization, under those conditions, you will begin to get a very significant change in the underlying confidence in the consumer. >> and then u might see that in the consumer area, you might see it in the stock markets. so that is the trigger, possibly. you say it's unlikely, but that could be the trigger to a second dip? >> if you get another dip, a renewed decline in prices, we're going to run into an acceleration of a number of homes that are mortgaged and under water. that is, that the value of that properties are less than the debt. if that happens, and clearly, looking at the structure where debt and values are, it would, if, for example, home prices fell by 10% or more that would creat

. >> paul: hewlett-packard says its business is stabilizing. but the maker of computers and printers still saw a 19% drop in earnings as sales fell from year ago levels. >> susie: target and home depot are also coping with sagging sales. but the retailers both boosted their outlook and that helped stocks return to rally mode. >> paul: i'm paul kangas. >> susie: and i'm susie gharib. this is "nightly business report" for tuesday, august 18. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. you can cross inflation off your worry list. a new report today from the labor department shows that producer prices, a measure of wholesale inflation, fell almost 1% in july, much better than expected. the so called core rate dropped unexpectedly by 0.1%. at least for now, the data is reassuring news for people concerned that inflation could make a comeback. erika miller reports. >> reporter: salad greens are costing a lot less

auralian forces a being urged to stay in ora gon unt security is stabilized.the deral government will have the final say but will depend on how long it takes for afghan oops to stand on their own. >> it's realifficult question. think -- it's up to five years i thk we meet in t first place. >> reporter: the commaer of the australian task force believes it will b at least five yrs. >> and i think it could take longer. but clearly, i just couldn' put a time fram on it. yeah, in a nutshell it going to be the long hall rao and in the srt term coalition and afghan force tryg to provide serity for this week's presidential election. thers been a spike inttacks and the are fears that the liban will do all they can to scare rotors away from th polls. >> busing indirect fire, by usg ieds and also probably by suicide attacks. >> reporter: deste the risk, pele rned out. there was a has been security presence for the australian-fundedoject. local counity leaders say security and developmentave improvedp t ora gon still has a long wayo go. it's estimated that 95% the people

budgetary dependence on oil, with limited resources in the stabilization. is stabilization, we are talking resources of less than 2% of gdp, contrast this with chile, resources over 10% and that much lower. it has much more room to run. its ratings -- you have a strong dependence on oil with limited resources in the stabilization fund. you have a low, non oil tax base, the lowest in the region, 8% to 10% gdp, central government verses public-sector. there has been reform, trying to enhance the tax base in recent years but it is challenging. the bottom line is the revenue base doesn't provide significant flexibility. prepare overall government revenue, public-sector revenue, on the upside from mexico, 24% of gdp, public-sector revenue. that compares with our triple median for general government, less inclusive of 36% of gdp. smaller revenue base, mexico on the low end, it limits the scope of oil revenues compound. these provide the challenges. the government has taken pro-active steps over the last year and this is why we have the rating down. why we have ti

but i do think that housing is beginning to stabilize. you know, it varies across the country. but you have housing affordability in the best shape it's been in in years, and you have prices having declined to a level where they are really attractive in some of the weaker parts of the country. so i think we're in a bottoming area. i don't know if we've reached absolute bottom. >> what sort of outlook do you have for the dollar? just yesterday i was asking some guests whether we've entered this new paradigm for the dollar where we see it strengthening not as a safety play but in fact on a recovery play. >> well, my view is the dollar is on a slow downward glide path. >> you still think that. >> yeah. >> but the amplitude or the slope of that glide path is really determined by what's going on in the yen and the euro. and they're in tough shape, too. but as long as we're borrowing as much as we are abroad i think there's going to be pressure on the dollar. we're running big trade and budget deficits, and that's not good for the dollar. >> you haven't determined where you're going

>> i think it helped stabilize the system..ut i also think in many ways it negated the damage of said same administration crying fire in the theater. i think much of the firing that was done was in the summer/autumn of last year, because anybody listening to our leaders tell us how horrible and scary it is. >> it was horrible and scary, rick santelli -- >> in the end, we're never doing to get to the end of this argument. >> leave it to overnight repos of good quality. bear stearns went under, washington mutual, countrywide went under. i don't know what other evidence -- >> where were all these leaders when they recognized this was going on in '06. >> there are ashes and there are smoke. there is very, very obvious evidence of a fire, not to mention the flames we all saw in the market.t. and more importantly, though, i want to get to the latter point. >> how we cured it. >> the fed stepped in and provided liquidity. >> credit crisis fixed -- >> rick, what would you have done? would you have just allowed bank after bank go out a

the fed says there are signs the economy is stabilizing. brooke hart is in washington with more. >> it was the fed's first sunday assessments in more than a year. economic activity is leveling out. it has left lower interest rates alone. >> i think things are improving. the fed will stay the course. >> is the great recession over? president obama this week took credit for halting the slide. >> we provide assistance that has saved the jobs of tens of thousands of workers providing essential services like teachers and police. >> the president and the fed said warning signs remain. job cuts continued. 1800 of them ahead at a health- care giant kaiser parikh that is a response to so many layoffs elsewhere, that have left your people on the hospitals will spirit record for posters expected in july. the numbers out today. >> the combination of the residual effect of that mortgage practices and now the unemployment spiked it entered into record high levels. >> also today, retail sales figures out. how much americans are buying in tough times. >> e

it says it is for stabilization of state governments and for stabilization of the medicaid programs.ven that we have maybe $87 billion for those purposes in the bill, compared perhaps to hundreds of billions or trillions of dollars for stabilization of our banking system, would you judge that structure and spending, of which may be a third has gone out so far, has to be f-? >> we will take a second question from the man in the third row -- for throwback. green shirt. >> georgetown university. mr. zimmerman has given us a set of reasons for the difficulty of the program, but when we talk about the fragmentation, it geographically, so on, to what extent is this stimulus package complicated because it is the way the administration decided, to what extent is it because congress put things in, each of which served some constituency somewhere? >> is there someone who wants to take the medicaid question? it looks like it was directed at this side of the c-spa-- >> medicaid? >> you said you were from gao -- >> the question was the $87 billion estimated for medicaid, state stabilization, main

some affect the stability of the system. some affect the individual institutions that are supervised. some obviously affect the public and public finances. therefore, you have to have the three together. the basis of the system is the one that i believe will be followed around the world. it is not that we're moving from the previous system. we're trying to make it even stronger in the relationships that it got to develop better in the future. >> the treasury select committee does not seem like there is the same cohesion. i think that is the message that should be taken back. as far as this financial crisis is concerned, it hit us very hard indeed. with the strong financial sector in the economy. i think around the world people appreciate that britain took the lead in dealing with many problems in the financial system. we first recognized the need to recapitalize the banks and that simply providing liquidity was not going to be enough. it was us to recognize that we would have to take shares in the banks as well if we were go

a computer then analyzes all the data to determine a shoe's stability.in another test, a 19-pound weight is dropped on a shoe to see how well it will cushion your feet. and testers also exercised in the shoes to size up the fit and flexibility. >> fit is by far the most important feature, and we had a couple of shoes that didn't perform so well. >> reporter: for example, the men's and women's reebok smooth fit mobile 2 trainer. >> the tongue was attached on one side and deattached on the other which means you couldn't lace up the shoes as tightly as i wanted to. >> reporter: many testers didn't like the o men's c9 roxie which uses elastic bands to secure the shoe. >> my foot slipped out of the sneaker. there's absolutely no support because there's no shoe laces. >> reporter: in the end, the ace áeubgs gell 150tr for men and women came out on top. both provide an excellent fit and cushioning and costs less than $65. leslie foster for 9 news and wusa.com. >> it is a good idea to go to a store that has tolphe t fif af al. oe's ansortatpotht . it's also impo

in that sense, there is more stability. but this is stability from a still quite weak base.declare victory yet. >> before we let you go, i also want to ask you about the unemployment rate now at 9.4%. we know housing, of course, and unemployment are very closely linked. unemployment really being the problem here with the entire consumer base of this economy. when might that start to reverse itself? >> well, employment lags the real economy, so even if gdp growth begins to turn later in the year, which i believe it will, the job market will lag a bit until the economy grows to potential. so i would count on the unemployment rate rising before it falls substantially. >> mr. hubbard, a real pleasure to have you on the show. >>> more on the global economic recovery with german economic president weber. of. >> and steve liesman. forget about cheap beer. seems american consumers, they want none other than the good stuff, despite these tough economic times. we have details on booming boutique beer. the industry, straight ahead, only on "the call." >>> okay, welcome back, everyone.

certainly those employees are looking for stability. almost anybody is looking for stability in this economy. >> especially the plant employees, most of whom were furloughed for two months this year. vice president joe biden predicts the initiative will revitalize the american automakers. >> the future success of the electric cars relies a better batteries, better drive trains, better integration of the two. by reducing carbon emissions from cars and making alternative energy more available, these batteries are as good an environmental investment as well. >> some caution that the push toward electric cars will not translate to cheaper fuel prices. >> if everyone was driving a fuel-efficient car, he would probably have more demand. people would be traveling to vacation spots easily if the price pickup, -- if demand picks up, president and she goes higher. -- price of energy goes higher. >> this man caught a 1062-pound blue marlin on wednesday, breaking a maryland record by more than 100 pounds. it took him three hours to reel in the catc

now, they do want stability. in addition to democracy it is good, but this is also accompanied by the absence of any deep consensus of in your house. -- of anywhere else. this stalls in terms of carrying out the fundamental reforms that are required to keep mexico competitive. mexico after '90s -- 1997 and 1998 they and turk a very -- they enter a very critical period. prior reforms have not been implemented. there is a fairly naive view of the state and the ability for carrying out reforms by the executive themselves, by command and control methods in which of some of these reforms do not produce the results to expect. these reforms are not producing the efficiency that is expected. the mix of reforms that did not go as deep as they should have gone, and absence of further reforms presents a complex. -- a complex. period. this occurs and a most unfortunate situation. the authorities have done the best it could do. the response of central-bank and finance ministry have been very responsible. there is very little

chrysler on the mend and out of chapter 11 and housing prices on the way up and housing sales stabilizednd we will emerge better and stronger than ever before as in the latin, baby, pax americana. american peace it means literally. translated into dennis speak, it means america the kick-ass which brings me back to that busted water pipe in manhattan this morning. think about it. 12 inches high and made of cast iron. imagine the strong hard hands of the men who laid that pipe in lower manhattan in the year 1870, 139 years ago. did the workers who put that pipe in the ground that day a few years after the end of the civil war, did they have any idea it would still be in use in the 21st century? i think maybe they did.w my hope is the obama administration $787 billion stimulus package has some money lying around to help build a new water main for lower manhattan. i'll make a bet that i bet that replacement pipe lasts beyond 100 years. america is built to last and the american worker is built to last, too. emotionally drained yet? a little of me goes a long way, i know that. that might be a

but today, the fed chairman promised to continue work to restore stability in the economy and the markets. >> we have been bold or deliberate as circumstances demanded but our objective remains constant, to restore a more stable financial and economic environment in which opportunity can again flourish and in which americans' hard work and creativity can receive their proper rewards. >> susie: joining us now with more on bernanke, laurence meyer, former fed governor and now vice chairman, macroeconomic advisers and david jones, c.e.o. of d.m.j. advisors and author of "unlocking the secrets of the fed". test. >> good evening. >> larry, let me begin with you. you support the bernanke renomination. tell us why. >> yes, unquestionably. the first issue you have to decide on, whether you think he deserves to be reappointed. that's a question of how good a job he's done as chairman. i believe he's done an exceptional job during extraordinary times. he's been aggressive and creative. and put in place a set of policies that pulled the economy back from the edge of an abyss, and it set the foundati

because this was a horror show for the global economy, we should get some stabilization. but at the moment, if you take china, for example, you know, the cynics will say perhaps like me say, you know, just coming of the back of this with all the statistics being unreliable, which has always been the case, frankly, now they come out with numbers less bad and china bulls say, this is great, therefore, it's even better news. so there's a lot to come whichever markets you look at. so yeah, there are a lot of people out of the market and there are a lot of people who have taken money off the table and are waiting to see what happens next. so i think we're range bound at the moment. >> and if stocks aren't particularly cheap or expensive at this moment, what do you to? >> well, a couple of things. i think this will be significant spectat spectators. some of the lows were basically indicative that they weren't all going out of business. so if you've been on the financials that have been on the mend, you want to get out of that space and start cycling in to early cycle industrial

by next spring, hopefully, we get a stabilized job market and by 2010 hopefully meaningful job growth. >> where is the growth in the economy right now if there is any, would you say? we saw pretty good housing numbers. the case shiller housing index showed housing prices were up for the first time in three years. is that important and where do you see growth? >> yeah. that is important. the housing slide is ground zero for the recession and the problems with the financial system. it is very encouraging that long slide is coming to an end. probably have some more house price declines to go, but they'll be modest compared to what we've been through. the growth right now occurring in health care, educational services, federal government because of the stimulus. i think as we make our way into next year, we'll start to see growth in wholesaling, transportation, trade. by this time next year, we'll see professional services kicking in, everything from accounting and legal services to management consulting services. >> what about the earnings season? what's your assessment of what we just s

. >> it's showing signs of stabilizing. this means eventually businesses will start growing and hiring again. >> the. >> caroline, thanks. >> a bomb scare at one of the nation's busiest airports this week, la guardia airport evacuated for hours today, causing flight delays all across the country. the trouble began when a man started acting suspicious. they searched his bag and what

acting on promises he made to michael with respect to assuring the language long-term health and stability of the children. but this out-of-the blue move only fuels tabloid reports that dr. arnie klein is really the biological father of 12-year-old prince and 11-year-old paris. >> most sources have come forward to "us weekly" and said that arnold klein is the biological father of michael jackson's two eldest children. >> reporter: he didn't exactly deny it on cnn last month.

and the data has been stabilizing for the market.rt out of is the jobs data, which is somewhat troubling. but we expect as things go forward and you see this cable stabilize from housing to consumer confidence and we expect housing data and durable goods to surprise slightly to the upside, as well, it's going to be databased now. >> speaking of data, then, bob, it's maura here in asia. what about the revised q2 gdp numbers come out tomorrow, do you expect any major revisions or changes there? >> you don't generally see major revisions in the second round of the data. i think the surprise usually comes in the first and the third, generally. so we don't expect a ton of movement out of that. but i did see some positive signs out of the german ifo numbers, as well. the zew numbers will help move markets today and you've got technical signals. you've got a weekly close above retracement, looking for a target at the end of the week of somewhere around 1053. and if we can get up there, it also is a precursors to a start for a positive week

they said they see a stabilized market and tech spending has hit

then used the magic word business conditions to show signs of stabilization. thee three months ago had they used this language, the stock would have moved up notably. the bottom line is this, you're not getting the same little umph you get, you have to use the word growth. rick santelli, the stabilization isn't going to get the magic effect and not if they use that or any company in the third quarter. >> i couldn't agree more with that analogy. that application worked for so many areas like jobs, 371,000 lost is not anything to celebrate, but yet there's still a bit of celebration going on. less bad, we've heard enough of that, like a pop commercial. the index has gone hot. we're making new lows, moving again. hey, do you see crude oil now back in positive territory? the foreign exchange effect, even in lieu of their supply, all of fundamentals it takes hold. supply, supply, supply next week, august refunding 75 billion. 23 billion in tens and 15 billion in 30 years. this is going to be interesting, it's a record size 4 billion more than the last refunding. fo

but an end obama has gone with stability. he has recognized the job bernanke has done, a difficult job to bring stability back to the markets. the markets will like this and any speculation that obama will put in his own man. >> you say obama is on holiday, which is. are you surprised is making these huge announcements on holiday? >> there were reports that we will not hear any policy from the more he was on holiday, yet he is breaking off his holiday to do this. and you will hear the revised figures for the budget deficit in the next 10 years is expected to be revised upwards of $2 trillion. which doesn't make good reading. perhaps this is a move to try to bring that stability back. >> look forward to that later the program. this is "world news today." coming up -- counting of votes -- early results due from afghanistan's election. but allegations of fraud the dog of the polls. a year one returns, but south africa's caster semanya is now having to prove she is a woman. this special u.s. prosecutor will investigate allegation

yes, stability but also he's shown he can do the job. he should stay. >> let's talk about bernanke's past a little bit here. and maybe his future. in order to get us off the hook on the banking front, total at risk, $23.7 trillion. federal reserve has $14 trillion give or take the the treasury department $7.4 trillion. treasury carries debt -- there's already a few trillion at the treasury. but the $14 trillion was new. $14 trillion. the $7 trillion is much bigger. $2 trillion is the fdic. what risk was created for america when the decision to bail out the banks under ben bernanke was the one i described putting, again, $23 trillion in risk in order to stabilize the bank's bill. >> risks were sort of multi-layered. first you have the risk of the credit billion and the fed when they -- took all those things that you were hiding in your -- >> garbage bag. >> garbage bag. >> beautiful garbage bag. >> right. right. there's that. on a more serious note, what they basically said was that we are going to monetize anything we need to monetize. >

a new poll suggests there could be stabilization. so many people are sick of hearing.t mean? in a poll of more than 500 employers, more than half say they plan to hire full-time workers over the next 12 months. 60% say they're willing to negotiate with candidates for higher pay. also, incredibly significant on this whole question of where is the income growth. here to talk about it, matt ferguson of careerbuilder.com, the man who did the survey. matt, you look at those and say, wow, 60% are will to go negotiate for higher pay, some are willi in ing to hire. seems good. how does this compare to the survey a few months ago. give us some context how we should be reading it. >> i think some of it is similar, the number of people willing to hire, 53%, has gone up so i think that's an improvement. the people negotiating for salary, i think that's been consistent and skilled labor brings a premium, and i think you saw that in the survey. >> and so when you say hiring, i guess it's hard for you to forecast i guess how long until we're quote, unquote, break even. but where do y

. >> and suze, a lot of people think the economy can't move forward until home prices stabilize. but even if they stablize, you know, the damage is done. there are a lot of people that are under water with the mortgages they have right now. where do you go from there? >> we're not going to see a let up from foreclosures. that's the other side. the foreclosure problem is a problem of levels, not rate of growth and we're so far off our

it's stability in the process more than anything else.

but stabilization is not recovery. the number one issue is the economy, you're right. >> now we have been hearing from people in so many different forms, via e-mail from brian. he said in all the discussions on the results of the stimulus bill, the white house has pointed out cases where jobs have been saved due to the bill. however, can the white house point out evidence of the job growth, not lack of loss, that was promised in the run-up to the bill? >> sure. i mean, i think it gets back to the same point i was making earlier. if you look over the prior, say, three months, let's smooth out some of the bumps in the data, we're talking about job loss of 330,000 per month. far too much job loss. if you compare that to the prior six months, at that point we were losing somewhere between 657, 700,000 jobs per month. independent economic data, not us, folks in the community evaluating this stuff, tell us the recovery act has added 2% to 3 percentage points to gdp and added maybe something like 500,000 jobs that would have