>> well, the economy's very weak. you look at the last employment numbers, payroll employment down almost 100,000, housing prices are coming down, exports are down. so this is a weak economy, but unfortunately, even those who are big proponents of quantitative easing don't see it as something that's going to give any kind of a substantial boost to gdp. >> i mean, that's really the question, because part of the goal of the quantitative easing is to create jobs. do you think, in fact, it will do that? what can government do at this point to stimulate job creation? >> well, i think quantitative easing is the only thing left at this point for the fed to do through monetary policy, but i don't think it's going to have any significant effect. 0.1, 0.2 on the unemployment rate might be a big victory from that kind of a policy. i think the government really has to tackle the more fundamental problems, like our mortgage problem with a third of homes underwater. >> i mean the foreclosure problem seem to be getting worse. as we h

well speaking of this rebalancing of the global economy and dumping of u.s. dollars that you were referring to headline reads swaps show who's in towel bonds approaching treasuries yes at a time when governments around the world are facing growing debt china us bonds are becoming almost a safe as the u.s. treasuries and the market for insuring against defaults well those that u.s. treasury bond market looks really weak the global investment community the governments around the world they are trying desperately to get out of their u.s. dollar bomb positions they want to escape the nightmare that has banned poster. the war to bretton woods u.s. dollar reserve currency strangle hold and as peter schiff our friend peter schiff says often the u.s. is the caboose that's holding the rest of the world economy back and the the world wants to cut themselves loose of the caboose the u.s. dollar even warren buffett was in europe trying to buy into euro and other denominated assets but nobody wants to sell to him because they realize the dollar is a dying currency actually

we're talking about how to or you know rebuild the u.s. economy but the folks are getting paralyzed by the way that the set up is now is it correct to say that their biggest enemy is the fed because the fed is really the source of all the spier economy and by getting rid of the fed isn't it wouldn't that kind of start to really level the plank failing but where i can download this get rid of the fed argument is then replace it with what i mean i i strongly suspect that if we were to get rid of the fed the fed the role that the fed plays would be replaced with something even worse than that the problem is that it's an institution and like any institution it is its feet a viewer it is so operation depends on the guys who are running it and the ideas in their heads and i think that both our problem right now we have the wrong guys and the principles that they're operating on are the wrong principles so the real the fundamental problem here is not any one being necessarily being a good guy or a bad guy what happened when these interest rates really hi

we'll look at how that's playing out in the economy and the upcoming election. you're watching "nightly business report" for friday, october 8. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening everyone. 95,000 american workers lost jobs in september. tom, there was some hiring by u.s. businesses, but not enough to offset the big cuts in government jobs. >> tom: susie, the labor department said the unemployment rate held steady at 9.6%. but add in people who've stopped looking or who can't find full- time work and the underemployment rate is much higher: 17.1%. >> susie: those dreary numbers could be the trigger for federal reserve policymakers to pump more money in the financial system, hoping to spur economic activity and hiring. scott gurvey reports. >> reporter: the employment report for september looks a lot like the report for august. more go

>> tom: many think the federal reserve will give the economy another shot of cash next week, whether it needs it or not. >> the question is, do you really need quantitative easing at this stage, and i think the answer, in our view, is no. but yet, they seem intent on doing it in order to remove the very small probability that we have a double dip or move into another recession. >> susie: a look at whether pumping billions of dollars into the economy is the fed's best move. you're watching "nightly business report" for tuesday, october 26. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. how much, and how long? susie, those are the questions everyone wants to know from the federal reserve as it considers its next move to help the economy. >> susie: tom, we're talking about how much money the fed will pump into the economy, the so-called "quantita

you can talk about the economy all you want to. you have to go to black people and talk about what concerns them and you have to do the same for women or they are not going to come out based on the economy or anything else. they want to know what you are going to do. and if you want to talk about women, talk about equal pay and about your husband hasn't got a job, and you're out here earning less than men are earning. go to them with their issues. >> okay. let's talk about messaging and the democrats i think have not messaged well this cycle. i think obama in 2008 was electric for women and he talked to them and about being raised by a single mother and talked about the economy and the problems they had and pay equity. he is not doing that. he is talking about republicans. and he is talking about what they are doing to make things bad. people believe the president is in charge and should be taking care of the problems. he passed healthcare and wall street reform he is not connecting the dots for women to know why their lives are g/t

had the holy grail of the economy. nd of mine, professor of finance at westmont college, he's the author of the book that's going to answer that question "job creation, how it really works and why the government doesn't understand it." here is what i take from what you said. job creation is a business decision based on expansion, growth, modernization of plant, infrastructure, involves a return on investment, economies of scale, improved productivity, strong profits, cash flow. that's why people create jobs because they get a return on what they put into it. what do we have to do to make the businesses of america create jobs? >> good to see you again, ali. the main issue in our book we cover throughout every chapter is the issue called the certainty factor. the certainty factor is really how you look at the near-term and intermediate term of the private sector. you're looking for stability, you're looking for opportunity. what really contributes to a great certainty factor is low tacks, low government regulation, less g

i don't see a lot of lift under the economy. i think the financial crisis has been put behind us by actions of the central bank governors and others. but we're not yet at a robust strength in financial markets. they're still struggling. and i think we have made a lot of progress but we're nowhere near where we need to be. >> john snow former treasury secretary, thank you for your timeness. >> thank you. good to be with you. >> hey, jeff, a very quiet day here at the new york stock exchange. the bond market was closed and of course maybe some of the traders went apple picking with their kids, many of whom were off today. >> jeff: that's right there wasn't too much going on. but the quiet before the storm. also because the bond market was closed, you know, we don't have a bond number today. anyway. let's take a look at tonight's "market focus. >> jeff: wall street's focus turns to profits and revenue-- or lack thereof-- as the third quarter reporting season kicks into high gear. microsoft is hardly mentioned these days as a develop

is confident that the russian economy is not suffering from a currency war and here's a quote. from the internet remember there is not yet a currency war going on we are talking only about expectations that currency flows will become more powerful instrument. competitions i'm doing today the clearest examples are usa in china the situation between them is unique but we can't say that there is a similar war in any other part of the world. russia's central bank has decided to loosen the rubles floating corridor recently would you say that it means that russia is somehow teched is somehow influenced by this conflict by this conflict between the states and china no no i would know what is your agree with alex equal to that russia is the outside of this currency wars because of manufactured products and russian expertise not to be with us or russia in north by devaluing is chorus of russia cannot benefit something of the world market because russia is the natural resources commodities that are not affected by the winter you were in charge russia has been very proud of its. courier fo

government needs to inject more money into the economy. that's what joseph stiglitz, the nobel prize-winning economist, believes will fix the american economy and prevent it from sliding back into recession. when i talked with stiglitz earlier today, he explained his case for more stimulus. >> the reason you need government to provide the stimulus is the private sector can't do it. the private sector on its own is not going to increase demand, consumption, investment, exports, none of the other sources are there to increase demand that will create the jobs. there is no alternative. >> susie: but congress has no interest to approve another stimulus plan what happens to the economy without it? >> unless we have another stimulus we will continue to have unemployment at 9, 9 and a half percent, maybe it will go down to 8.5%, but that's not acceptable. and if that happens, we are going to be losing the skills of our people, people who are unemployed for a long periods of time, lose valuable skills. when they finally get a job it will be at lower

attacks the economy. suicide bankers that's the best the root of the problem and they follow the corrupt ideology of free market fundamentalism and so you break the spell and christine o'donnell i mean maybe she we need a witch break the spell of the indoctrination of free market capitalist ideology which is the most radical extremist view of any group in the world these neo liberals in washington and on wall street are the most radical extremist suicide banking group in the world causing much more damage than ten thousand elka it is well of course those neoliberal. economics introduced into america was called by george bush sr to do economics and we're doing now which is are often scary they come out of hollowing was just coming up greenspan says us creating scary deficit as borrowing rises there's a warlock for you. right rock to crawl out from under greenspan i mean seriously here's a guy who threw the entire u.s. economy under the bus so they could win you know a knighthood from the queen of england i

but the american economy, it's healing. parts of it look very strong and impressive now if you look at high tech, you look at manufacturing, look at agriculture. you look at industrial production. they came out of the crisis much more quickly, really quite strong. even private investment growth that slowed a bit, even private investment growth, investment by businesses and capital invest system expanding at a healthy clip. the reason why it's slower, charlie, than we'd like is fundamentally goes back to the causes of the crisis. you know, we you had a crisis caused by the fact that as an economy we were living way beyond our means. people were borrowing more than they could afford. they were spending more than they earned and you had these huge growth in leverage in the financial sector and when you have a recession, a crisis caused by that, it takes more time to dig out of it. and the things that are causing growth to feel slower now, to seem slower, weaker now, are fundamental to the process of healing. we see weakness in

maybe we should tell him about the water effect on the economy? test as long as those boats are seaworthy it may be a lot easier to refloat them, certainly, that's definitely the truth. let's get you update on what we're watching for next week. our friday market monitor is james paulsen, chief investment strategist at wells capital management. we'll get an update on housing from the september reports on new and existing home sales. and the first report on the third quarter g.d.p. is out. monday: our shoptalk series look at ikea and how its eco-friendly policies are giving it a competitive advantage. >> susie: the u.s. postal service still wants you to pay more for stamps. it plans to appeal a regulator's decision that denied permission to raise rates to 46 cents a stamp. the postal service says the increase is needed because of losses caused by a drop in mail volume. it blames it on the weak economy and a shift to email and online bill paying. >> tom: federal regulators are getting involved in the fee dispute between cablevision and news corp. the

the economy he's facing the double deep. economic recovery is not stable is not fast and there are great concerns that unemployment is high enough and the economy milf only phase the second decline in the role and of course federal federal reserve would like to help to boost the economy by cheap money so money for a policy maybe is not the best instrument but is the only one remaining in the hands of the most of those it's a show you think there the u.s. will continue the policy are of cheap credit and the price of the dollar will continue to go down of course of course and mr there should will continue these unless all other countries within g twenty i don't know how many countries should be but china of course or should be one of them they should press us administration just to agree upon sort of the rules of the game because you've missed off financially for the sector after every of those states tim geithner has signed this declaration or congress who was ignored divination there should be certain commitments on us as we

there's no inflation in the economy. the federal reserve board chairman said not only do we worry about deflation, not inflation. but your exactly right, we have to create demand. one way to create that is to get people working again. another way to create demand is to give the people who are working more money. another way to create demand is for the government to spend money. and all of those things probably need to be tried in order to get this economy rolling again. the idea that the government needs to spend money is the one that is politically the most controversial at this point. but i think that macro economists who, you know understand historical trends would say that's precisely what's needed at this point in time. host: last couple of calls on the my. denver, independent line, jim? caller: thanks for taking my call. they've a quick economic and quick political question and maybe you can answer those. i'll preface it by saying i'm very discouraged since obama took office, republicans have fought every step of th

per capita was going wherever slow and all the quantum is well localized there were natural economies re it was yellow not that i chose it is a huge nation listen all of the u.s. federal reserve one of the houses talking to china that's. trying to share their experience while the u.s. federal reserve continues to print billions of dollars and pumping them into the economy isn't it isn't it actually a policy of the dollar depreciation while they're voting for appreciation i would say that as a new government in the war american government first of all would like to solve all problems the problem of all nations as well as china as well as russia as well as the british government and of course of course it is a great danger for the united states that the economy ease facing the double deep economic recovery is not stable is not fast and there are great concerns that unemployment is high enough and the economy milf we may phase the second decline in the role and of course federal federal reserve would like to help to boost the economy by cheap money so money for a policy maybe is not the

it's growing faster than the rest of the economy but not enough to make up for the jobs and the economyt would bert hurt by ab 32. >> how about in terms of funding >> it's been pretty even. i saw the latest poll out end of last week or first part of this week showed it dip a little bit. prop 23 had but before then it was pretty even. >> from your, vantage point, if proposition 23 bad or good for california? >> it depends on which side of your fence on. i'm a political reporter so i'm not going take sides. i think that -- >> i put you on the spot. >> i'm not going to give you an opinion it ought to go. you can look at who is funding it and look who is funding the other side. green tech is funding the other side. a lot of environmental groups. they want to push for more green energy and they think that ab-32 will promote the development of green energy and other side is saying that economy is suffering and we can't take any more of a hit. >> mike, thank you so much. i know i put you on the spot. that was a great answer. we do have a take a break. we'll continue our discussion with an advo

taking the economy from bleeding 750,000-plus jobs a month to now adding an average of 100,000 private sector jobs a month. we have created 863,000 private sector jobs this year alone. more jobs than the entire bush administration created. the republicans offer more of the failed policies of the past, take us back to the stranglehold they had when it came to tax cut in policy and focus only on the wealthiest. exploded deficit. took a $5.6 trillion surplus to $1.3 trillion deficit. now they want the keys to the car back. american voters understand that if we want to keep fighting to move in the new direction, we have a long way to go. we need to make sure we continue with the democrats being in the majority. that's why we will hold the majority on november 2. >> bret: there is a new strategist memo public this weekend. they write this -- "voters are not moved by democratic messages that say go forward, not back, mention president bush, compare then and now or even hint that the economy is showing signs of progress. after hearing this battle of republican and democratic messages, 8% shif

the economy will be a key factor in those mid-term elections. tonight's commentator suggests what you should look for when making your choices. she's maya macguineas, director of the fiscal policy program at the new america foundation. >> fiscal responsibility is clearly one of the central issues of the upcoming election. and yet, the policies on the table seem to involve either adding $4 trillion to the debt by extending all of president bush's expiring tax cuts, or adding $3 trillion by extending them for folks making less than $250,000. seriously, this is the best we can do? fiscal responsibility is hard. that is why politicians like to sing its praises, but don't like to get into specifics. it's also why nonsensical arguments take over the discussion like "cutting taxes will raise more money", or we shouldn't make changes to social security's benefits, never mind that the program's own trustees have warned that changes need to be made. if you're actually interested in supporting fiscal responsibility, here's what you need to look for. a candi