because today we got a report on the american economy, and the good news is that the economy is growing, it's just not growing very fast. part of why this bar is so short is the budget cuts john mccain supported then and regrets now. without those cuts, the american economy would look more like this, with more jobs and more money to go around. senator john mccain's expression of remorse for that is real news. but it is not even the biggest news right now about john mccain. throughout the obama presidency, john mccain has dogged the white house, blocking the president's domestic agenda, at one point rejecting immigration reform, though he himself had been a champion of the idea. senator mccain reserved a special level of disdain for the president's foreign policy. >> we need to take gadhafi out. we could have ended this conflict a lot earlier if we used the full weight of the u.s. power, instead of leading from behind. >> we won the war and are losing piece, thanks to the president's commitment to get completely out on israel, relations have never been worse. >> horrible things are happe

impunity as opposed to what's good for the economy as a whole and what makes sense in the long term right well i guess you know the point here is that the the american economy is the host and the banking industry is the parasite in the parasite is becoming quite huge now from tax returns to food stamps to minnesota bonds to pension funds j.p. mark morgan other untouchable banks control most of the public space around us either directly or indirectly or through debt for example they control the food stamp program in america so there's there's a huge parasite there in that but the this space available left for us the people who are the host for the parasite is getting smaller and smaller and smaller catherine. well i'm glad you brought up the food stamp or met says that's a perfect example of where the government is paying j.p. morgan chase to do their job abroad to people here who are unemployed who are being paid money on food stamps or welfare disability are being paid to not work and so detached peers are paying through the same function twice so you have a perfect example of where government is generating corporate profits that are not economic f

impunity as opposed to what's good for the economy as a whole and what makes sense in the long term right well i guess you know the point there is that the the american economy is the host and the banking industry is the parasite in the parasite is becoming quite huge now from tax returns to food stamps to municipal bonds to pension funds j.p. mark morgan another untouchable banks control most of the public space around us either directly or indirectly or through debt for example they control the food stamp program in america so there's there's a huge parasite there in that but the this space available left for us the people who are the host for the parasite is getting smaller and smaller and smaller catherine. well i'm glad you brought up the food stamp program it says that's a perfect example of where the government is paying huge j.p. morgan chase to do their job abroad to people here who are unemployed who are being paid money on food stamps or welfare disability are being paid to not work and so detached peers are paying through the same function twice so you have a perfect example of where government is generating corporate profits that are not

the american economy had gone to war. the japanese attack on pearl harbor brought america into the shooting war. americans left their homes and jobs to fight overseas. still the explosive economic growth continued. everybody that could work worked. young people worked. wives moved into the labor force. older people didn't retire early. the result was that your productive capability expanded very, very rapidly. our production was so phenomenally higher by 1944 than what it had been in 1939, that the per-capita consumption was very high. still over 40% of the total production of this country, some 42-43% at peak, went totally to the military. with full employment came demand for consumer goods which had been unaffordable during the 1930s. the country was producing and consuming more. for a while, the united states increased its production of military and consumer goods. but choices had to be made. so what we did, along with setting high mobilization efforts, beginning very soon after pearl harbor, you began to cut back on th

example of weather and gps, my monetization, is that together they contribute $100 billion to the american economy last year. last year alone from just those two data liberations. so, that is the way in which we are approaching from a strategy perspective, the ultimate impact to our customers. >> one super quick. one thing the city of san francisco or big cities or federal, right, the other smaller cities, smaller cities have smaller budgets. having a structure to support all this open data takes a lot of money. so, when these small cities are thinking about this, they should think about a way of somehow equalizing because they are putting into having these open data team, right? so, what does make sense? this is kind of an open question to get your point of view. >> do you want to take that, shannon? >> i think that there is actually quite ah few examples. we can probably talk to this more with smaller cities that are making open data efforts. but what i would say is that it's proven more than the value of the investment. the return that we've gotten just by opening up the data has actually given

you got a -- we got more than just a job snapshot of sort of the health of the american economy. seems as if the american economy is fairly healthy. but there's this big but, it's the jobs part that seems to be the least healthy. is that a fair way to paint this picture? >> i don't think i'd put it that way. as i've said basically every time i've been on your show, we're seeing the economy slowly recover from the worst crisis of our lifetimes. i think it's important we do what we can do speed the recovery. if we get faster economic growth, we'll get faster job growth. most importantly, congress should avoid getting in the way and manufacture crisis by not raising the debt ceiling in a fashion without any drama. >> i mean, i think we've discussed this before, but isn't the dirty little secret here about this sort of -- jobless recovery is too strong a word and i know you wouldn't use that. sort of the fact that jobs aren't coming back as fast but corporations are doing well, they're sort of fundamentals of a lot of the american economies doing well? a lot of corporations just figu

china has been slowing down, europe is in recession, and the american economy may or may not be growingirmly believe the american economy is grow, and europe is turning a corner, and iron eore is growing. we think about 75% of book value, it's great, particularly if china picks you were again. >> caterpillar, you're short cat, karen. >> from a what price? >> 84. i think it's irrelevant when it was. wherever it closed. that's where i'm short. it's more on the serial misses, the guide downs. it makes me wonder how much of a handle they have on the business. >> those are legitimate issues to bring to the table here, karen. and honestly this is a track record that goes way back past the last year. there have been misses, the mishap in china with the write down there, but prior to that, particularly in the great recession, they did such a terrific job of managing inventory. they cut the book that their dealers had to protect the brand. they didn't do what the auto makers did, flood the lots and cut prices and ruin the brand. really in the long-term, they know what they're doing, but the reas

. >>> the american economy stumbling in july. wer jobs created than anybody hoped. >> business and tech reporter scott mcgrew breaking it down for us. >> the top number here, 162,000. 162,000 jobs added in the month of july is far lower than most economists were expecting. the unemployment rate now 7.4%, .2% lower. for people you run in today who think this is good news, tell them you watch "today in the bay" where they give you the straight skinny. there's a lot not to like. the jobs reated with mostly in retail and hospitality, nice jobs but tend not to pay well. we didn't see much growth in manufacturing. it adjusted downward, it means previous good news wasn't adds good as we thought. wall street has to figure out what to do with this number. investors are going to be disappointed the economy is not growing as quickly as hoped, but relieved that the fed won't be easing monetary policy any time soon. as long as we're talking about jobs, here is a story for you. starting with the taco bell in redwood city. in the parking lot is

proportionetly, all of them. >> i think the globalization of economy and the nationalization of the american economy is behind it all. >> you think we could survive without a flourishing economy? >> we survived for 200 years before we got into the global economy. >> housing -- the recent great recession is caused by the housing bubble, the bursting, and the greed on wall street. >> the chinese is representative of one problem, which is we have a tremendous transformation of the global economy. they're much more competitive in a lot of products that we used to make but the real problem is we're in a tremendous technological campaign. >> the world is interrelated in a way that it never has been. >> it is. and i don't like it. >> the world is changing. we cannot roll back the clock on globalism. we tried to do it in the past. we brought about recession. consumers here love global trade because it makes things cheaper, and, okay, it under cuts jobs. the economy's going through changes. >> the consumers brothers and sisters don't make them any more. >> there are ways to boost the working class am

the american economy-- the sum total of what goes on in shopping malls, car dealers, supermarkets, stockhanges, 7-elevens, and gas stations all around the country. millions of buy-and-sell decisions everday, trillions of dollars worth every year. and those decisions affect every part of our lives. who decides between a room with a view and a house in the suburbs? in our demand and supply economy, who demands and who supplies? 1945. world war ii was over. millions of ex-gis came home, fell in love, got married, and started families. and there was one thing they all needed. when i got out of the service, i had a wife. we wanted a place to live. it was like looking for a needle in a haystack. eventually we found a place, a converted house where the upstairs was converted into an apartment. in 1947, judge paul widlitz was an ex-gi and a young long island lawyer just starting out. we had the normal problems that you would have when they convert a one-family house to a two-family house. every time the baby cries, it's heard down below. newman baum and jerry worthing were among the ex-gis with

as the american economy improves. here are fears that measures taken to prop up won't be spain's richest woman has died. the housed seven percent of parent company. 6.1as been estimated at billion dollars by fortune magazine. with her dead husband, she died after a stroke at 69 years old. >> time now for media watch. james creedon and his trusty laptop means it is time for media watch. >> a lot of stuff you see these days you can't really show on television. it is very graphic. but the stuff that we can show even though it is a little bit macabre, it is not a fatal jump but certainly you are risking hurting yourself. this is another image. these are pictures of people shooting on that same bridge. that is one of the flashpoint in cairo today. ,nother interesting screenshot i think it is from screen television. those that support the muslim brotherhood are being termed terrorists. another picture that is quite striking is this gentleman here writing his name and number of the family member on his arm. he is concerned ab

investments these revised huge returns for the american economy. if we focus on growing strong and home, america will thrive. >> thank you. point.pick up on that america is a strong nation. the strongest in the world. the wealthiest in the world. we are not second in manufacturing. china has caught up. we can prevail around the world. throught have to do it military force, although we must make sure that we check china's projection of military force. working with india and southeast asia, working with our own strong workforce and our reduction capabilities -- production capabilities, we can prevail. and besthe strongest educated workforce in the world. we have a great production the ability. we should be aggressive in going around the world and not letting china by up all of the rare earth: it's. elements.arth >> i go to decision on capitol hill. everyone looked in awe when chinese investors bought the chrysler holding in new york city. we now know that a significant amount of real estate in manhattan is owned by the chinese. acquire somelt to of th

the american economy-- the sum total of what goes on in shopping malls, car dealers, supermarkets stockhanges, 7-elevens, and gas stations all around the country. millions of buy-and-sell decisions everday, trillions of dollars worth every year. and those decisions affect every part of our lives. who decides between a room with a view and a house in the suburbs? in our demand and supply economy who demands and who supplies? 1945. world war ii was over. millions of ex-gis came home fell in love, got married, and started families. and there was one thing they all needed. when i got out of the service i had a wife. we wanted a place to live. it was like looking for a needle in a haystack. eventually we found a place a converted house where the upstairs was converted into an apartment. in 1947, judge paul widlitz was an ex-gi and a young long island lawyer just starting out. we had the normal problems that you would have when they convert a one-family house to a two-family house. every time the baby cries, it's heard down below. newman baum and jerry worthing were among the ex-gis with fami

enhancing america's contribution. >> how do we rejuvenate the american economy? >> i think we need stronger political leadership. our elected officials -- we don't have a fiscal policy. the lack of attention on job creation has been astonishing to me. as i have said before, i think there are different ways to approach it. i am big on tax reform. i think adding rid of these unexpected expenditures where the government is giving you a tax benefit versus what made more economic sense, are very harmful. make us more competitive internationally. i think we should do major infrastructure spending during national infrastructure bank. it should fund self-sustaining projects. i think we should do it. we should be all in. that is a better role for government than subsidizing housing. i would love to see that. republicans have a long tradition of supporting infrastructure spending in the past. we need to get smarter about education policies. we need to retrain the workforce with greater technical expertise. we need immigration reform done right. we also need to make sure the

i will go further by saying that the problems that the american economy have shouldn't be laid at the feet of the bankers, industrialists, many of whom are complicit, though they at the foot of the state which has currency regulations, these things are all very destructive. >> host: >> guest: i don't think it's going to succeed because it? one of the essential heiress stakes. it's got to be a medium of exchange, which it is in a store of value. but their reason why it's not a good store of value. in the fourth century b.c. defines for a reason for that may say, give us five-carat heiress stakes of good money has to be durable, consistent and have value in itself. and there could be a fountain of coins. there could be as little coins, baby coins. that is in fact inflationary. so i like the idea of recording. >> host: where did she grow up and how did you get your start in economics? >> guest: well, i've always been interested in money. i have always been a big reader. so i was just run to free-market economics because i am a person that doesn't believe that the government or the people

the gds and services a output we produce as americans. you know, melissa, what has changed in the american economy over the last 25 years we are an information, innovation, create tivity economy and it's very difficult to measurehose things in the kind of standardized ways but we know that's what adds value to the american economy. melissa: so you like ts? you're in favor of this change? >> very much so. i think it should have been done a very long ti ago. the fact that we're $500 billion richer than we thoug we were is a big deal. we talk a lot about china catching the united states. guess what. we found out they're $500 billion further from us than we thought. melissa: but, john, not every show goes into syndication. a lost shows get started and fall right off the radar. so counting that possibility doesn't seem fair. another one that bugged me was interest on unfunded penons being counted. is there really interest if the pension is unfund and city like detroit will not get paid out? why then did the personal savings rate go up 5.6% in 2012 from 4.1% counting in interest on unfunded pensions? that doesn't seem fair? >> that seems a little

this would have severe impact on the world economy, particularly the american economy. a much more concern about a regionwide conflict whereby israel and iran and hezbollah and saudi arabia become deeply involved in this unfolding drama before our eyes. >> just some of the indications of the complexities that the president as well as its collaborative partners are considering right now. fawaz gerges, thank you for your perspective. >>> california firefighters are adding a drone in the fight against an unrelenting firefighter. the drone, similar to the one you're seeing here, gives firefighters a bird's-eye view. it's remotely piloted hundreds of miles away by the california national guard. on wednesday it alerted firefighters of a new flare up they would not have normally seen so quickly. the rim fire is now in its 13th day and it s only 30% contained. it has destroyed 111 structures posing a threat to the yosemite national forest, san francisco's water supply as well and its giant sequoia trees in the region. millions of americans suffer from sleeplessness. a new gover

the u.s. economy and the jobs news we woke up today. american businesses added 162,000 jobs in july. the unemployment rate ticked down to 7.4%, its lowest level since '08. on wall street, the dow and the s&p 500 hit new all-time highs, but the news isn't entirely as rosy as the numbers might seem on the surface. we get our report tonight from nbc's kevin tibbles in chicago. >> reporter: in a sluggish economy, coyote is a company that does well because it helps other companies do more with less. >> everyone is stuck in this flat-line phase. we expect the market to improve at some point. we expect the consumer to come back. but we don't know when. >> reporter: everyone in this room works to streamline logistics, finding shipments for empty trucks all over north america. >> half the time those trucks are empty. so that's what coyote is targeting. >> and that's wasting money? >> that's wasted money. that's wasted labor. that's a waste of carbon. so that's the opportunity for us. >> reporter: in an economy virtually stuck in neutral, customers come to coyote seeking leaner ways of doing b

the economy is precarious right now? >> absolutely the government is doing is not just the wrong thing but the exact opposite of the right thing. i'll go further by saying that the problem with the american economy has shouldn't the bankers and industrialists. but the state which creates currency debutses -- debutses the currency. these things are all very destructive. >> what do you think of the coin ?iew. >> i'm all for the movement. i adopt think it's going to succeed because it lacks one of the essential characteristics of money. it's got to be a meeting of exchange, which it is. and a store of value, but there's a reason why it's not a good store of value, and air to the -- aristotle put his finger on that. gave us five characteristics of good money has to be durable, convenient, consistent, and have value of itself. and it doesn't have any utility or value of itself. and there could be a thousand coins even if the supply of coins themselves are limited there could be a little coin, baby coin, and then that is in effect inflationary. i light idea of it, but i'll wait for version 2-0. >> where did you grow up? how did you get your start in economic investing? >> i've always been inte

dare to sabotage the american economy and much of the world economy in order to defund a program, the affordable care act which is the law of the land? and will they go to this drastic extreme to intimidate the u.s. congress or the president or both? if so, is this the extreme case where it trumps the most minimal loyalty to the common national interests where anything goes, where the ends justify whatever means there are to be had no matter how menacing to the country or the world? alex wagner is the host of "now" weekdays on msnbc. we've got a number of news resources out tonight, the "washington examiner" which is a bit to that with new source stories saying the people on the republican right are planning to step back from a government shutdown in september but to proceed to an escalation of this fight to basically defaulting on the national debt. that would be their threat. if the congress moved to fund the affordable care act which is the law of the land, they would cut off if they could any vote to extend the national debt and therefore, of course, default. what do you think of

without government support, and yes, funding, of industry and new technologies, the american economy,, wouldn't exist. federal land grants helped build our railroads in the 19th century. in the 20th century, federal and state funds built the highways that powered the automobile industry. >> you wouldn't have a personal computer if it wasn't for the space program and the missile program. they shrank computers to put them into guidance systems on missiles. it wasn't something, somebody was like, gee, it would be nice to have a computer on my lap. that happened later when geniuses like steve jobs turned it into a commercial entity. but the basic science, the basic r&d, came from the government. >> another way government can jump-start progress is smart, forward-thinking policy. and listen to this, it has worked before. if you're of a certain age, you may remember the panic over a growing hole in the ozone layer and another potential environmental catastrophe known as acid rain. the ozone crisis was mitigated by a worldwide ban on cfcs, colhlorofluorocarbons which onc powered aerosol spra

the future is right for the american economy the manufacturers renaissance. energy independence set to define the nation's new path to prosperity and we look at a crystal ball next. lori: good news just in time for labor day showing that manufacturersain ground with declining energy costs. joining us w with his helicon the broader economy the chief economist for the national association of manufacturers. u.s. has been in the news lately with better than expected gdp on second quarter showing a surprisingly strong upward revision because of growing exports. ionize signal for u.s. manufacturers. can you expand? >> in general they have had a disappointing year with industrial production is not what we wted it to be or hiring is not the same. exports manufacturers talk about the demand of overall sales that we had good numbers in june for exports really helped with the gdp numbers yesterday that was a largeart why i was not 1.seven growth a 2.seven. lori: what industries are demanding this? >> anything with the durable-goods drive during on dash machinery driving

street look to get more profits and so what's been going on in the twenty first century is that the american economy is being simply empted of employment opportunities the jobs are moved offshore and with the jobs go and the tax base the careers the consumers incomes and so there's nothing to drive the economy you can't have a consumer economy if you take the consumers jobs and you give them to the chinese and then the ins and then you bring the goods that the chinese and indians may back to the united states to sell to the consumers who haven't got good jobs and so the economy hasn't gone anywhere in the twenty first century initially the federal reserve on the alan greenspan compensated for the lack of growth in consumer income by creating a credit bubble in other words the low interest rates let people refinance their homes it's been the activity and that kept the economy going until everybody drownded in debt right and now there's nothing that can get the economy going i just want to get one more question and you're right about the american people who have been placed outside the system of democ

the equity and that kept the economy going until everybody drownded in debt right and now there's nothing that can get the economy going i just want to get one more question you write about the american people who have been placed outside the system of democratic capitalism is democratic capitalism in its pure form. sustainable or does it inevitably devolve into some kind of tyranny. yes i think it. is but an unregulated capitalism. ends up being. run by a few people. it's what we see today you know wall street runs treasury runs the financial regulatory agencies it runs the federal reserve so once you think that deregulation free market deregulation is the answer and we have pursued that now for a quarter of a century both here in england in france indeed just about all over the world the net result is that our accumulates and if you're into your hands and so you have an oligarchy and that crowds out the markets. that was my interview with paul craig roberts off of the failure of laissez faire capitalism also former assistant secretary of the us treasury coming up area profiles produce pharma and their pimping of the opiate oxy caught that got them in a trouble and she explains how

it is not the right thing but exactly the opposite and i will go further to say the problem the american economy has the baker is a and industrialist those that create currency regulations, taxes, and they're all very destructive >> host: what about the bit cloyed movement? i am all for it i don't think it will succeed but bit coin lacks the characteristic of money it has to have a store of bellevue but there is a reason why it is not a good store of the value when aristotle put his finger of backed gave a spot of characteristics durable, a convenient and have a value on an of itself. and bit coin does not have the utility or value of itself and even with the supply of bit coin are in limited because of the little clay and sand be decoyed sandbagging is inflationary. i like the idea. but i will wait for 2.go. >> host: where did you grow up? out due to start with economics investing? >> i have always been interested in money. i have always been a big reader. i was just drawn to free-market economics because i of the person that doesn't believe the government or people have a right to to treat you

man: infrastructure is vital to the american economy. water, after all, is an essential ingredient in hundreds of thousands of everyday products. narrator: agriculture and industry use roughly 80% of the water consumed in the united states. water is the basis for manufacturing many goods and provides the ability to clean and sterilize everything from computer chips to the surgical instruments used in hospitals. kelly: the minute that there's not enough water for businesses, industry, and individuals, they have to go elsewhere. and when they go elsewhere, jobs go elsewhere. your entire economy begins to suffer with the lack of clean water. narrator: while the water infrastructure provides for our health, safety, and economy, a growing concern is that the value society derives from water

the future is right for the american economy the manufacturers renaissance.nergy independence set to define the nation's new path to prosperity and we look at a crystal ball next. ♪ [ villain ] well m baldwin... it appears our journey has come to a delightful end. then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge, like my flight with a few taps, it's taken care of. impressive baldwin. does iwork for hotels? absolutely thank goodness. mrs. villain and i are planning our... you scare me. and i like it. let's go what's in your wallet? lori: good news just in time for labor day showing that manufacturers gain ground with declining energy costs. joining us now with his helicon the broader economy the chief economist for the national association of manufacturers. u.s. has been in the news lately with better than expected gdp on second quarter showing a surprisingly strong upward revision because of growing exports. ionize signal for

a kidney stone out of your urine for the size of this and this is jamie in the research on the american economy is a kidney stone the size and there's a passage that through your resume that's what jamie does to a several day thus the pain you're feeling in detroit that's the pain you're feeling is supposed was the pain you're feeling in your jobs becoming worthless all of this is it just needs to be righted get it. well you know into this tapeworms combine and this next story because you have the beef tapeworm that i showed you was it gets up to sixty five feet long and then the gene we timed diamond tapeworm . j.p. morgan is really infiltrated everything about the whether some units of a bond market or the food stamp market or mcdonald's workers many of them are given cheap morgan chase debit cards say they were given tapeworm burgers i mean that's a good way to save and having to feed your employees a sixty five foot tapeworm that's a few burgers and of course the other to worm in our headlines was the chinese one and they all combined in the headline here fast food workers in new york city

a kidney stone out of your reach for the size of this and this is jamie in the reserve on the american economy is a kidney stone the size and measure of passing that through your your resume that's what jamie does to us every day that's the pain you're feeling in detroit that's the pain you're feeling in municipalities those the pain you're feeling in your jobs becoming worthless all this is it just needs to be erratic. types of the cause report there in the next hour or so coming up next though it's breaking the set with happy man. remember we talked about clothing for regular folks like you and me that can make you invisible drones well freedom fashions as i like to call them are continuing to expand although the fact that our drones infrared eyes are very scary the more common street cameras are way more likely to want to average day violate your privacy and thus they invented the justice cap this hat blocks your face with the lights from face recognition software all the camera will see is an anonymous glowing ghost i personally haven't tested this thing out nor have i seen it with my own

the future is right for the american economy the manufacturers renaissance.rgy independence set to define the nation's new path to prosperity and we look at a crystal ball next. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. lori: good news just in time for labor day showing that manufacturers gain ground with declining energy costs. joining us now with his helicon the broader economy the chief economist for the national association of manufacturers. u.s. has been in the news lately with better than expected gdp on second quarter showing a surprisingly strong upward revision because of growing exports. ionize signal for u.s. man