now he's planning to retire in tuscany. we're both pretty emotional about it. shhhh, don't say a word. you're welcome. [ male announcer ] e-trade. investing unleashed. constipated? phillips' caplets use magnesium, an ingredient that works more naturally with your colon than stimulant laxatives, for effective relief of constipation without cramps. thanks. good morning, students. today we're gonna continue... >>> for all of our conversation, one of our greatest trading partners and allies, they are financier of our own government and one of our greatest potential competitors, china. over a billion people, millions of our jobs, of course, trillions of our debt, they are the second largest u.s. trading partner and like it or not, the country of china is now inextricably linked to our own nation. but how much do we truly understand about that country, its own diversity and how it functions behind the great wall? is it, in fact, the monolith we conveniently absorb for purposes of our own political dialogue? our xoek kskoka, he's written a new book. the changing he sa

on my honeymoon i went on not bike trip in tuscany. first time i met a huntsman supporter i would never meet when iowa but in tuscany you confine them. she was a lovely woman but was a moderate democrat from connecticut. that is a problem if you are running for the republican nomination. >> his knowledge of china was helpful to him given recent demographics. >> thank you very much. >> i am with the national journalism center internship program. >> excellent. >> i see a growing influence of libertarians and the republican party and they have a problem with lincoln. how do you think we should address libertarians in regard to lincoln or just in general? >> they are an important element of contemporary conservatism. one of buckley's last books referred to himself as a libertarian journalist in the title. in terms of practical politics you really need all three legs of the conservative school. you need economic libertarians as a more free-market -- national security hawks. another thing i find heartening about the tea party is the hawkish

i would not ever meet one in iowa, but in tuscany i could find one.he was a moderate democrat from connecticut. i think that that is his base. >> i just thought that his knowledge of china was very helpful to him, given the recent demographic. thank you. >> thank you very much. >> i am with the national journalism center in turn should program. i see a growing influence of libertarians in the republican party. i know that many libertarians have a problem with lincoln. how do you think that we should address libertarians with regards to lincoln and in general? lex there is an important element of contemporary conservatism. he referred to himself as a libertarian journalist in the title. in terms of practical politics, you really need all three legs of the conservative school. economic, libertarian, free- market, national security talks. another thing that i found extremely heartening about the two-party, colchis on foreign policy being an exception, they are fused and merged. i met a helmsman supporter, but never in a tea party. certainly the major tea

. >> reporter: under fire, prime minister david cameron, who now back from a vacation in tuscany. also suddenly back, london's mayor. onella girarratano, whose salon was destroyed in the havoc, gave him an earful. >> -- and no one was here. >> reporter: the inferno and the looting has been spreading both through london and to other cities. images not seen since the darkest days of world war ii. a department store, more than 100 years worth of a family business, up in flames. >> it's all burnt down and there's no profit and no one has really stolen anything, they've just burnt it down for the sake of burning it down. >> reporter: amidst the flames, a woman jumped out of a building, straight into the arms of firefighters. she survived. so who are these rioters? young, angry men from poor neighborhoods, who see little opportunity in a country trying to survive the economic doldrums, slashing programs to help the poor. the violence was sparked by a police shooting but has now taken a life of its own. >> they are feral rats. what are those parents doing? those children should be at hom

, never meet them in iowa but in tuscany you can find them.erate democrat in connecticut. i think that's hauntsman's base and that's a big problem if you're running for the republican nomination. >> i just thought his knowledge of china was helpful to him given the recent democrat graphics. >> thank you very much. >> my name is joe shaver, i'm with the national journalism center internship program. >> excellent. >> i see a growing influence of libertarians in the republican party and i know that many libertarians have a problem with lincoln. how do you think that we should address libertarians in regard to lincoln or just in general? >> well, they're an important element of contemporary conservatism. buckley, one of his last books, last collections, referred to himself as a libertarian journalist in the title. so i think in terms of practical politics, though, you really need all three legs of the conservative stool. you need the economic, libertarian. -- libertarianism, free market orientation and security hawks. one thing i've found heart ve

then, the bubonic plague swept through tuscany in 1348. that, combined with the increasing dominance by the regional bully, florence, turned many bustling cities into docile backwaters. ironically, the bad news of the 14th century mothballed these towns, leaving them with a unique charm and a tourism-based affluence today. siena maintains much of its medieval character. its sprawling main square and towering city hall recall the days when it rivaled even florence. assisi -- with its walls, gates, and castle -- was home to st. francis. its massive basilica remains a favorite destination for countless pilgrims today. volterra was an etruscan capital centuries before christ. within its wall, the town's rustic center offers an evocative tuscan charm. and san marino -- all 24 square miles of it -- is unique in that it's still an independent country. while novel today, tiny two-bit dukedoms like this were once the norm. medieval italy -- like most of europe before the rise of modern nation states -- was a collection of independent, little san ma

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especially in the uk, when you have the prime minister an eaton graduate coming back from his villa in tuscany to try to manage the crisis. the class edge, it's even a question of whether that can happen in thes united states. how do you filter in the class angle to the points that chrystia is making. >> whether that sort of thing could happen here in the united states where the -- inequality gap is not just great, it's vast, i think as americans, and, you know, folks in washington and state capitals around the country come to grips that the spending and the things they used to do in the past will have to come to an end. i've been saying for a while that the protests we saw in greece, that we saw in londsen that we've seen all over europe, they're destined to come here, because really tough decisions are going to have to be made that will change the economic structure of this country. and there will be pain that has to be shared. so i'm very cureual to see how the american people react. will they riot in the streets the way that's happening in london? i'm not sure. i hope not, but we have to b

his prime minister is relaxing in tuscany.ritain chancellor in california where he rode the ride at universal studio. the cabinet of the debt-ridden ireland left dublin. however, as we reported, british prime minister david cameron did cut his vacation short to deal the london rio riots. >>> our top story at the bottom of the hour. stocks rebounded today strong in late afternoon following the federal reserve announcement that he will keep the interest rates low for two years. the dow gained 430 points. much of the volatility of late has to do with the fight over the debt ceiling. and also the uncertainty overseas. democrats want more revenue from the tax increases in one way or another. republicans reject increase in tax rates but chief washington correspondent jim angle tells us there is one option that many see as a possible middle ground. >> lawmakers and analyst ace like see reducing deduction and subsidy in the tax code as the neutral ground in the debate over revenue. >> this is where revenue deal is to be done. i don't

now he's planning to retire in tuscany. we're both pretty emotional about it.hh, don't say a word. you're welcome. [ male announcer ] e-trade. investing unleashed. >>neil: and super trouble and ron paul is not happy with the power that the 12 member committee will have to get the debt deem done. and he joins us by point and we will talk to the judge. but, first, congressman, you do not like the sound of the committee. >>guest: it smells. i don't understand why congress is willing to give up its responsibilities to 12 people. what does that make the rest of the members? we are supposed to be participating. this is a bad time. but it is part of a trend that has happened over many years of congress sending more responsibility to the executive branch and commissions and it is a reflection they don't have answers and the country is bankrupt and they do not know what to do and cutting spending is not high on the agenda. it annoys me when they talk about cuts and what they have to do on the commission is cut the deficit by $1.5 trillion but there are no cuts, all the

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there is something really disgusting about cameron being in tuscany when is going on.ame for obama going to martha's vineyard. when your country is falling apart you shouldn't be in some snotty place with your rich friends. >> sean: going to take a private jet and hang out with billionaires. >> the average age of these rioters in the u.k., 18 to 22. how much in taxes are they really paying? >> sean: nothing! >> they don't have a job and they want these things g to another country. >> sean: look at this, my grandparents came from ireland at the turn of the last they entered america, broke. they had no -- no money, not a dime. they worked their fingers to the bone and they were happy because of freedom. it is even happening in israel, spain, portugal, greece, france, great britain also in america this is the great debate the cradle to grave society is unsustainable low -- levin's book says, liberty, tyranny. >> same is true of my grandparents they didn't go to college but they got good jobs. they worked for the state department and had health care. that was a different e

. >> under fire, prime minister david cameron who, is now back from a vacation in tuscany.nd suddenly back, the london mayor, whose salon was destroyed, gave him an earful. >> we knew they were going to be there and no one was there. >> the inferno and the looting has been spreading in london and to other cities, images not seen since the darkest days of world war ii. a department store, more than 100 years worth of a family business, up in flames. >> it's just... no one stole it. they burned it down for the sake of burning it down. >> in the midst of flames, a woman jumped from a building into the arms of firefighters. she survived. who are the rioters? young, angry men from poor neighborhoods who see little opportunity in a country trying to survive the economic doldrums, slashing programs to help the poor. the violence was sparked by a police shooting but has taken a life of its own. >> they are feral rats. what are their parents doing? those children should be at home. they shouldn't be out here. >> this video exposes how some of the rioters are thieves. this man steal

now he's planning to retire in tuscany. we're both pretty emotional about it.me. [ male announcer ] e-trade. investing unleashed. >>> i'm bret baier in washington. this should be the last day. we are consumed with the debt ceiling extension. at least for a while. but the late-breaking story today is what happened on wall street. tonight on "special report," rich edson tells us what was behind a huge downturn in the stock market today. the dow dropped 266 points. we'll try to get to the bottom of the slide. we have details behind the senate approval of the compromise debt limit bill and the president signing it. president obama made comments after signing it saying tax incentive will be part of future talks includin includinge joint committee it sets up. we cover the crackdown in syria, where the city of where the holy month of ramadan begins. dozens have been killed since sunday. we have the latest. "special report" tarts in washington. now back to new york and "the five." ♪ ♪ ♪ >> monica: welcome back to "the five." time for your 2012 round up. first up, andre

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now he's planning to retire in tuscany. we're both pretty emotional about it.hh, don't say a word. you're welcome. [ male announcer ] e-trade. investing unleashed. and so too is the summer event. now get an incredible offer on the powerful c300 sport sedan. but hurry before this opportunity...disappears. the mercedes-benz summer event ends august 31st. >>> once upon a time, the economy blew up like somebody threw a fragmentation grenade into it. that happened because of irresponsible behavior by wall street, a deregulated wall street making itself very rich by doing risky things with billions and trillions of dollars with other people's money. after the crisis, democrats and congress passed the wall street reform bill, one component of the reform bill they passed was a consumer protection agency for financial stuff. the government had long taken the position if you buy a toaster or curling iron in the united states, it shouldn't be one that burns your house down. add have kalts argued people's mortgages and student loans and credit card agreements shouldn't bur

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to birmingham and other major cities, prime minister david cameron has cut short his vacation in tuscanynd come back to order more police officers to the city streets and he addressed the rioters directly. >> you will feel the full force of the law. and in you are old enough to commit these crimes, you are old enough to face the punishments. and to these people i would say this, you are not only wrecking the lives of others, you're not only wrecking your own communities, you are potentially wrecking your own life, too. >> we go now to london. michelle, i don't think london has ever seen anything quite like this. now it's spread to birmingham and other places. this can't still be the individual case that set this off? >> reporter: you know what, this has been going on for three nights. tonight would be the fourth night. it's really disturbing at this point. for people to see these pictures you look at them and think how could this be london? what really is this? what does this represent at this point? why is it to this extent? we talked to the mayor this afternoon, it's right. police were

parenting skills being behind what's happening after having taken a break and coming in from his villa in tuscany to come back and manage this crisis. talk to us whether through that lens there's a kind of tinderbox, to use jared's words that is a piece of hats happening right now no london. >> well, believe me, it hasn't gone unnoticed that cameron is as 15ds,000 a week tuscan village house, breaking out in london. one prn i saw at weren't of the riots yelled this is our battle. i asked has he meant, he said, against the ruling classes. there's certainly an element of -- he talk a lot of the kids, citing banks, grabs the money. why can't i smash a window and grab flat screen tv? pundits are saying these people have no hope of achieving the kind of affluence they want and they lust after and have been told they should be allowed to have and they go and steal it. >> ravi, jared, thanks for illuminating this disturbing stuff on both sides of the atlantic. we'll follow this in the days ahead. thanks for sharing your thoughts. >> thank you. >> thank you. >>> some breaking political news this hour. th

now he's planning to retire in tuscany. we're both pretty emotional about it.hhhh, don't say a word. you're welcome. [ male announcer ] e-trade. investing unleashed. [ coughing continues ] [ gasping ] [ elevator bell dings, coughing continues ] [ female announcer ] congress can't ignore the facts: more air pollution means more childhood asthma attacks. [ coughing continues ] log on to lungusa.org and tell washington: don't weaken the clean air act. the authentic, the rare, the hard to define. to those always searching for what's pure and what's real from we who believe we know just how you feel. haagen-dazs. >>> one top money manager says there's total fear in the markets right now. let's get back to the breaking news this hour. stock prices nosedive. all three major indices took a big hit, with the dow plunging a 512 points, this despite the debt deal meant to prevent an economic meltdown. fareed zakaria writes about the issue in the new "time" magazine. fareed, what happened today? it looks like it's not just the united states, but the whole world, the fear o

under fire, prime minister david cameron, now back from a vacation in tuscany.ano, whose salon was destroyed in the havoc, gave him a earful. >> no one was here. >> reporter: the inferno and the looting has been spreading both through london and to other cities. amidst the flames a woman jumped out of a building straight into the arms of firefighters. she survived. so who are these rioters? young, angry men from poor neighborhoods who see little opportunity in a country trying to survive the economic doldrums. slashing programs to help the poor. the violence was sparked by a police shooting but has now taken a life of its own. >> they are feral rats. what are those parents doing? those children should be at home. they shouldn't be out here causing mayhem. >> reporter: this video exposes how some of these rioters are thieves. this man stealing from the bag of a bystander injured in the violence. the prisons in the city are overflowing, packed with the hundreds of rioters who have been arrested. police say they will finally square off with the looters and rioters,

the prime minister, aware of that, flew in overnight, breaking into his holiday in tuscany and offering words of thanks to the firefighters and words of support for those who have lost their life's work. sixteen thousand officers are on the street. we're hearing 6000 officers last night. so a significant increase. alisyn: at least one death has been linked to the riots and we are closely following this story. we'll bring you developments as they happen. bill: in the meantime, a somber day for the nation and families of 30 american troops killed on board a helicopter in afghanistan. this morning, their bodies returned home. among them, u.s. navy seal aaron vaughn from virginia, father of two who loved his familiar me -- family and loved serving his country, too. his widow remembers their short life together. >> it's funny the things you remember. the smell of their skin. the way they walk. you know, just come in the door, and put their keys down. those little things, i'll miss. i just remember him climbing into his truck and telling me he'd see me soon. and how much he loved me and the k

when i was away on my honeymoon, we went on this bike trip in tuscany. the first time in the enhanced and supporter was on this trip in tuscany. -- the first time in net -- i met a huntsman support appeared she was a lovely woman, but she was a moderate democrat. i think that is his base, and that is a big problem if you are running for a republican nomination. >> i just thought the time was not very helpful to him, given the recent demographic thing. >> thank you very much. >> i am with the national journalism center internships program. i see a growing number of libertarians, and i know many have a problem with lincoln. how do you think that we should address libertarians in regards to lincoln or just in general? >> they are an important element of contemporary conservatism. buckley, one of the books at last collections, referred to himself as a libertarian journalist in the title. i think in terms of practical politics, though, you really need all three legs of the conservative stool. need the economic libertarianism free-market orientation, the socia

poor david cameron barely got a chance, forced to leave tuscany thanks to teenagers tearing up the capitaleamed for strolling. even the guy who puts the bunga in bunga bunga party cut his summer fun short. you get plenty of time for a holiday, a rest when you get booted out of office. you're only in favor for a very short period so you just take 15 minutes and do as much as you can to help the country because, boy, when you're gone, you're gone. >> now to some, the best looking presidential vacation pictures are the ones that don't exist. i like it when the summer reading is kind of very physical, like, why yes, i am reading. that's a funny balance, because if it looks too set up and stiff then it doesn't look like much fun and it's obvious. but if they dare to let their hair down too much, they're just going to get teased for it especially by us. >> vladimir pugh on the is one guy who doesn't care what others think. michelle thanks so much. >>> simon hobbs is live at the new york city stock exchange. >> i'll tell you that the market is likely to fall today. the indications will fall 84 po

the prime minister rushed home from a vacation in tuscany to deal with it.ly people will point to deep soepsychological problems. >> reporter: is it embarrassing? >> i'll be honest. i feel furious. >> just lazy and just going around robbing shops to make easy money. that's what it is. >> reporter: police now are everywhere. and they're posting surveillance pictures of the looters online. the larger community. >> they're mindless looters. grow up. >> reporter: some citizens are fighting back with booms. here police were cheered as they rolled in. three days late. but many understand the unpreparedness for a rage no one expected, had seen before or can now comprehend. this morning the prime minister vowed to track down these looters and said he wouldn't let a phony argument of human rights get in the way of publishing their photos. at the same time, we're finding out that a london man who had stood up to a mob a few days ago and was beaten by them has died. the wake of all this scotland yard is launching its biggest investigation in its history, bigger even th

the prime minister rushed home tuesday from vacation in tuscany to deal with it. but top officials with big plans for security, now are jeered. >> really, the people will point to deep sociological, economic background information. i don't find that a satisfactory explanation. >> embarrassing? >> i'll be honest. i feel furious. >> people are just lazy and going around robbing shops to make easy money. that's what it is. >> reporter: police now are everywhere. and they're posting pictures of the looters online. the larger community is finding its voice. >> they need to grow up. >> reporter: some citizens are fighting back with pans and brooms. here police were cheered as they rolled in, three days late. many understand the unpreparedness, for a rage no one expected or seen before or can now comprehend. this morning the prime minister vowed to track down these criminals without, he said, letting phony arguments of human rights get in the way of posting their pictures. he launched scotland yard on its biggest investigation in history, bigger than that of the 2005 lon

so the prime minister has left his tuscany vacation to deal with this, just announced 16,000 officers will be on the streets tonight. the police have started urging the parents of these young rioters to call their kids, keep them at home, and make them stop. for a third terrible night, london burns. this a century old furniture store in the south, while other scuffles broke out around the capital and beyond. destruction, attacks on police, cars and buildings torched. the looting, everywhere. tvs, liquor, you name it, proudly hauled away in daylight. others posted their loot online. even caught on camera stealing from a hurt young man. >> this is criminality, pure and simple, and it has to be continue fronted and defeated. >> reporter: walk out in it and it does have a feel of crime for crime's sake. young men and women voracious for violence. raging since saturday, sparked by anger by a killing of a young father last week, which is under investigation. some rioters claim it's still about that. >> his police have too much power and they're using that power. >> reporter: relatively smal