wolf?s package the colorado shooting suspect apparently mailed before the massacre. >>> a new warning that african-american voters could cost president obama the election. >>> and horrifying video of a killer whale attacking his trainer. i am wolf blitzer in aspen, colorado. you're in "the situation room." here in colorado, we are learning about a mysterious package that might have been a red flag about the movie theater massacre that was sent by the suspect, james holmes. there are many questions about it, and what it might mean. ed will he have and dar oh has the latest. >> reporter: we knew there were suspicious packages mailed to university of colorado campus where james holmes was going to school. briefly that caused evacuation of some buildings. we now learned from a law enforcement source as you mention that one of the packages was sent by james holmes and that officials and authorities are analyzing what is inside. we have not been able to confirm what's inside those packages. but c

i'm wolf blitzer. you're in "the situation room." >>> we begin with today's damming new report on penn state's university's cover-up of coach jerry sandusky's sexual attacks on young boys. it says the top people at the university including the legendary football coach, joe paterno, hid what they knew and had no regard for the young victims. just now university officials are promising it will never, never happen again. >> you should know that our hearts remain heavy. and we are deeply ashamed. >> we're in no way lessening our focus on our own failings. we also are committed to helping to build greater awareness of the societal issue of child abuse. >> cnn's susan candiotti is joining us now. louis freeh led this study. it was very, very bitter and damming. >> reporter: it was, wolf. right out of the gate, louis freeh made it clear that children were victimized because four top penn state officials did nothing to stop jerry sandusky. and named names including a man's name synonymous with penn state unive

i'm wolf blitzer.the situation room." >>> a ruthless seesaw battle for control of one of syria's cities. rebel fighters aren't backing down from government forces even with more than 150 new deaths reported just today. security forces are barrelling through the streets of aleppo while gunships fire from overhead. cnn's ivan watson is inside syria. he'll join us in awe moments. first, we're hearing from the u.s. counterterror chief here in aspen, colorado. and he's raising concerns about the security of syria's chemical weapons stockpile. cnn intelligence correspondent suzanne kelly is covering this. >> spoke on the forum and asked a question about chemical weapons and whether the u.s. knows where the chemical weapons are. there was some concern over the way he answered that question. i think we have that. let's take a listen to that. >> are we able to identify where those weapons are? are they safe? are they secure? are they falling into the wrong hands? it's an important question for us. >> have you g

>> hi, wolf.e fireworks shows have been canceled because of the recent storms, some because of wildfires out west. but in other towns the sky will not be lit up tonight because of the weak economy. we look at two cities facing the same problem. the red, white and blue bunting is out, the door of the broadway diner in red bank, new jersey, wishes patrons a happy fourth of july. but this year something is missing. >> i mean, the whole county would come here. and everyone would get together. it was like a norman rockwell picture. that's really what it was. >> reporter: val says this would have been the diner's busiest day of the year. >> it's early, but it's very, very quiet. it hurts a lot of businesses. >> reporter: red bank canceled its annual fireworks show for the first time in 53 years. officials could no longer pay for police overtime. and organizers couldn't raise enough private donations. it means children having to watch fireworks on television. >> they like stand out more. they're small on

>> hi, wolf.ted airline has cut a deal with boeing to build 150 737s for its fleet over the next ten years. united did not disclose the value of the order, but at list price the planes are worth $14.7 billion. boeing is sole supplier under the deal giving the aircraft manufacturer a leg up against its main competitor, air bus. and u.s. jobless claims by first-time filers have taken a surprisingly steep dip. the bureau of labor statistic show down 26,000 from the previous week. the number is the lowest since march of 2008. fourth of july and fewer planned auto factory layoffs may have skewed the figures. and yahoo! hacked. and the ones who did it are boasting about it online. yahoo! confirms yahoo! voice, part of its new service, was breached and the user names and pass words of about 450,000 people were filched. the hackers dumped the documents to a web page where they posted the note that the action was not a threat but a wakeup call to yahoo!. wolf. >> all right. you've got to be careful with al

i'm wolf blitzer. military officials are telling me they're deeply worried about the pentagon's budget. kate has some background before the discussion. >> need to remind everyone, we're talking about $500 billion in cuts to the defense budget in the next decade, set in motion last summer in the debt ceiling agreement. that represents 8% of the pentagon's current budget and a lot of jobs. here is cnn's pentagon correspondent, chris lawrence. >> reporter: all of that bang, the sound of workers in a small town in a pennsylvania plant. what you don't hear is the clock ticking on their jobs. >> at the end of the day, these workers you see here are going to be laid off because we won't have the money coming in to keep them employed. >> reporter: come january, automatic budget cuts kick in across the board. the pentagon would have to chop $50 billion a year for the next decade. that's a lot of lost business for big defense contractors, leaving scraps for small suppliers like jwf. >> lockheed, they're going to

i'm wolf blitzer. you're in "the situation room." >>> president obama's been hammering mitt romney for sending u.s. jobs overseas during the years he rain bane capital. this afternoon in colorado romney turned the tables labeling the president as the outsourcer in chief. our white house correspondent, brianna keilar, is following all this back and forth. is the obama team worried about this new romney line of attack? >> reporter: wolf, i think they would much rather be talking about tax cuts for the middle class. that's why president obama went to iowa today. and certainly this new republican attack line is stealing some of that spotlight. president obama took the fight over the bush era tax cuts from the white house to the mclaughlin house. meeting with a middle class family in cedar rapids, iowa, to promote his new push for only american families earning up to $250,000. >> the republicans in congress and mr. romney disagree with me. and that's what democracy's all about. they want more tax cuts for t

i'm wolf blitzer. you're in "the situation room." >>> the massacre inside that colorado movie theater now appears to be only part of the horror that was planned. a law enforcement official who seen video of the suspect, james holmes' booby trapped apartment tells cnn it was rigged with more than 30 homemade grenades and ten gallons of gasoline. the source says that would have created a fireball knocking out walls engulfing the entire building in flames undoubtedly killing many more people. cnn's ed lavandera is joining us now once again from aurora, colorado. ed, what else are you learning? there are new developments emerging even as we speak. >> reporter: well, there's a great deal going on behind the scenes, but now there's a great effort to make sure that the principle players and many of the people involved in these investigations no longer speak publicly about what is going on. the judge issuing a gag order. ever since that has happened, it's become much more difficult to be able to report on this

wolf?i read a story the other day that says if you keep your ipad or other smartphone device too close to youred by while you're sleeping, it may keep you up at night. not because of noises, but because of blue light coming out of it. you may get insomnia in the process. some people wonder why they're not getting a deep sleep. maybe fast a factor. i don't know if that affects you. >> i don't have those things. i have none of that. i have a desk top computer and a room at my house away from the master bedroom. that's it. >> you're getting a good night's sleep every single night. and your brain is not cluttered. >> my brain is not in good shape. but it's not because of the internet. >> plenty of other stuff. thank you. >>> a very serious story we're following right now. a woman today kaccused of adult publicly executed, apparently by theal pan. we have disturbing new details coming out of afghanistan. we want to warn our viewers this story contains graphic video. >> reporter: wolf, shock and

it is, wolf.king thing to me on both sides of this though is that neither the obama campaign nor the romney campaign is yet to find a consistent message. they've been shaking them up, which you can do during the summer in a campaign because there really aren't a lot of people paying attention right now. and the obama campaign can actually get more ads on tv, most of romney's ads have been web ads, because he doesn't have the general election fund yet since he's not officially the nominee. neither side has come up with a compelling consistent narrative in their commercials. frankly even the republican super pacs, a lot of people inside the romney campaign have commented that paul begala -- the republican super pac, not so much. >> let's switch gears for a moment. erick, this time i'll start with you. i'll read your latest piece that you said, gun control is a fool's errand, why do you say that? >> because, wolf, it's very much like pandora's box. we've seen in chicago, we've seen in washington, d.c

wolfe hasn't commented but keith, barbara's defense attorney, suggested wolfe had a much more practical whoever his accomplices might be and lo and behold, there was an option at that point to maybe get that 15 years back. that was his motivation. >> in other words, said barbara's attorney, wolfe would sell out barbara any way he could to get a reduced sentence. of course, there was the uncomfortable fact of the two unprompted confessions of his ex-wives, in which he portrayed barbara as sort of a black widow, intent on having david killed. >> well, there are two versions that he gave to each of those ex-wives. >> the stories were not entirely consistent, said attorney seltzer. besides, barbara was at home in arizona the night of the murder. how does he know that? >> a phone bill from her mother's home placing calls to her home in arizona that night when nobody else could have been there. >> what's a phone bill of that age doing lying around somewhere where it can be grabbed for evidence by the defendant? >> the father was a meticulous record keeper. >> what's to say that wasn't an answ

wolf?ke the news from a law enforcement source, ed, that he supposedly, the suspect, had dyed his hair red and told police he was, quote, the joker. obviously, a character in those batman films? >> yeah, that is the information that we've been getting from various sources that we've been talking to throughout the day. and it is clear that at some level, james holmes appears to be communicating or talking to law enforcement because it was from what we're told, james holmes who also told authorities his apartment had been booby trapped. when we asked the police chief here in aurora to what extent he is cooperating, he really wouldn't get into many details as to just how much information and how much talking james holmes is doing. what everybody wants to know is the motive behind this attack. what would make him want to do this to all these poor innocent people, unsuspecting and having a good time watching the premiere of the batman movie. we still don't have any information as to what might h

>> hi, wolf.ell, it is president bashar al assad's first tv appearance since the bombing that killed three of his top officials. the video shows him with his new defense minister, but there's no sign of where that video was taken. there's been some reports he's left the capital. violence continues to rage in syria. opposition forces say at least 94 people were killed today. deep sea explorers are celebrating a record bounty. get this 1,200 bars of silver pulled from a ship wreck three miles under water in the north atlantic. the haul is from this british cargo ship torpedoed by a joer man boat in 1941. so far the expedition has pulled more than a million ounces of silver to the surface. and they think there may be a lot more still on the ocean floor. president obama is getting some big name and big money support. we've learned actor morgan freeman donated $1 million to a pro-obama super pac last month. in a statement the actor says the president has done a remarkable job in historically difficult

>> hi, wolf.governing "the situa" >>> a powerful governing body in london is calling for a ban on sponsors that produce high calorie foods and beverages saying it sends the wrong message to kids. that would include coca-cola which has sponsored every olympic games since 1928 and mcdonald's, a partner since 1976. the international olympic committee still has to approve the measure, which seems very up likely considering the hundreds of millions of dollars that would be lost. >>> and big news for soccer fans, especially if you've ever felt your team got robbed by a bad goal call. the sport's lawmakers have unanimously approved goal line technology. this is a historic step for a sport that's been resistant to that technology for years. it will help referees determine whether questionable goals crossed the line and will start being used at the end of the year. >>> archaeologists are calling is an exciting find. an ancient synagogue dating back to the fourth and fifth accept trees has been discovered i

i'm wolf blitzer. you're in "the situation room." >>> as we await jim acosta's interview with mitt romney, there are important new developments in a search for a running mate. we're seeing reports that there is now a short list of possibilities and the biggest name on that so-called short list is the former secretary of state, condoleezza rice. let's bring in dana bash. she's working the story for us. the name has been floated out there for a while. but all of a sudden it's getting a bit more imptous. >> interesting you used the term floated. there's no question this is a trial balloon and a clever way for the romney campaign to change the sject from a whole bunch of things they would probably rather not talk about today. but since we do know that there are a few people, the romneys and one or two other staffers who really know what's going on with regard to him choosing a vice presidential running mate, we figured we'd bite. condoleezza rice for veep? before we go a to z with pros and cons, let's star

>> hi there, wolf.ell, the opposition reports syrian regime forces targeted a village and killed over 200 people late last night. opposition says yesterday's death toll was 287 making it the bloodiest day since the uprising began. special envoy kofi annan is ineffective and should be removed. we'll hear from two experts on syria within the next hour. rick santorum will make his first official campaign appearance for mitt romney tomorrow in pittsburgh. just a few days ago santorum said he hadn't been in contact with the campaign. the former senator has clashed with romney over immigration and health care issues. even after santorum suspended his own presidential bid, it took him nearly a month to endorse mitt romney. and researchers say a commonly used chemical in perfumes, plastics, packaging and cosmetics may be linked to diabetes in women. a new study finds women with the highest level were twice at risk of having diabetes. one doctor says even if products say they're tlat free, the packaging still co

wolf?ose of us who have lived through some of those turbulent flights. >> i'm not a good flier, to say the least. >>> coming up, when you sing "the star-spangled banner," is it okay to cheat? a country star is caught red, white and blue-handed. >>> a sunroof is not the obvious way to get out of a car. one man did it involuntarily, . >>> do you have a sunroof in your car? >> yes. >> we're going to be thankful for that after watching this wild video from england. this car crashes into a wall. then you'll see a man flip out of the sunroof. you see it right there. his girlfriend is driving and lost control of the car. and a security camera captures it all. he casually gets up, adjusts his shirt and walks away. i can giggle because we're told he is just fine. our director had a very good point. we should go to las vegas with that guy. he's very lucky. >> goes right through the sunroof. >>> performing "the star-spangled banner" is a hard thing to do. and some get tripped up by the words. is it wr

i'm wolf blitzer. you're in "the situation room." >>> 102 degrees in the shade. this picture, take a look at it, taken here in washington. sums up what much of the nation is feeling today. yet another day of blistering heat. triple digits in many places shattering records all over the map. the heat is dangerous, potentially deadly. it's almost impossible to escape. and for the hundreds of thousands still without power, without access to air-conditioning, it verges on the unbearable. the heat is also devastating to the economy. a drought in parts of the midwest may be the worst in decades. and prospects for the corn crop right now they are dimming every day. we have the latest on all the weather conditions, what you need to know to stay safe. but let's begin with lisa sylvester right now. she's here in washington, d.c. lisa, just how hot is it outside of the nation's capital? >> i can tell you, wolf, it's a pretty hot day today. in fact, washington hit a new record. the ninth straight day of temperature

wolf? >> all those 6,000 rounds of ammunition, sophisticated guns, are police saying where this unemployed guy who just dropped out of a graduate school program at the university of colorado, where he was getting all this money? >> reporter: how he was paying for this isn't clear. it's a good yes. we're working on trying to figure out how he could have done that. there's, obviously, as you mentioned wolf, a great deal of money went into this. guns purchased at several area stories here in the denver area, plus all of the equipment that was bought online over the last few months. somehow, all of that had to have been paid for. and obviously, that is something authorities will take a closer look at as well. >> and the police are still not offering a motive, an alleged motive in this case, but we'll stand by. they haven't released a mug shot either, have they, yet? >> reporter: no, they haven't. that's interesting. and you know, obviously, i think perhaps authorities are sensitive to, you know

i'm wolf blitzer. you're in "the situation room." >>> we begin this hour with tensions ratcheting up between israel and iran. a bomb went off just as israeli tourists boarded a bus in the bulgarian resort city. six people are confirmed dead. some 30 others are wounded. president obama's strongly condemning the attack calling it in his word barbaric. cnn's elise labott is joining us live with the very latest. bulgarians are of course investigating. i'm sure the israelis are as well. first of all, what are the bulgarians saying? >> reporter: well, wolf, forensic investigators on the scene. it's all very preliminary at this point, but they're saying that this was caused by a bus bomb already placed inside the bus. that's really all they know, but they're not ruling anything out. they say it's possibly a terrorist attack. obviously the israelis saying they're sure of it. but bulgarians not ruling anything in, not ruling anything out at this point, wolf. >> didn't take very long for the prime minister of is

i'm wolf blitzer. you're in "the situation room." >>> we begin with both presidential campaigns getting down and dirty on the low road as the candidates themselves try to stick to the high road. the latest examples, killer tv ad that the obama campaign is using to welcome so-called welcome mitt romney to pennsylvania. and a top romney's surrogates complaint that the president should "learn how to be an american." let's go to our white house correspondent, dan lothian, watching all of this unfold. we've been saying it's getting ugly. >> reporter: certainly right. the fireworks today. the president was in texas attending a total of fundraisers trying to camp up in the campaign cash. some of those were with small donors, others with big names like tv star eva longoria. but today was more about money. the president was also going after his opponent, mitt romney, for more details about his personal finances. it won't help create jobs. and it won't ease the pain of homeowners stuck in upside down mortgages,

i'm wolf blitzer. i'm wolf blitzer.ns by vitac -- www.vitac.com >>> to hear republicans tell it, president obama is public enemy number one for big business. >> and it is the most anti-investment, anti-business, anti-jobs series of policies in modern american history. >> this is certainly the most anti-business administration since the carter years. >> so if president obama is so anti-business as republicans claim, why is the stock market done so well since he took office and the converse question is this. if president bush was so pro business, why did the markets collapse during his final year in office? let's look at the numbers right now. during the bush administration, dow jones industrials close the at an all-time high of 14,1648 back in 2007. but it started to collapse big-time during president bush's final year in office when the great recession really hit. on the day obama was inaugurated in 2009, the dow jones closed at 7,949, a loss of more than 6,000 points since that is 2007 high. it kept dropping during oba

>> hey, wolf.biggest problem the senate subcommittee says the money laundering controls of hsbc were very weak. that exposed not only hsbc but the entire u.s. financial system to things like money laundering, drug trafficking money, and terrorist financing. you've probably seen the commercials. one of the world's biggest banks, london based hsbc, trying to claim a stake in the american market. before it does, the banking giant is under investigation by the u.s. senate, accused of turning a blind eye to billions of dollars in money transfers by drug cartels and even terrorist groups. >> why is it that the bank, the group bank, sees these kind of problems, just doesn't flat out hold some folks accountable, fire some folks? >> at a senate hearing, a senior hsbc official david bagley offered to resign. >> now is the appropriate time for me and the bank, someone knew to serve as head of group. >> the money laundering spreads across the world. the mexico unit shipped $7 billion in cash to the bank's u.s.

>> hi, wolf.ing what penalties if any the university's football program will face. the group's chief says he's not ruling anything out including a so-called death penalty, which could suspend the football program altogether. last week a report claimed former head coach joe paterno could have done more to stop the alleged child sex abuse by jerry sandusky. and imagine putting on more than layers of clothes in this sweltering heat. yeah, that's what police officers and security at the u.s. capitol will have to do if they have too many tattoos. the national journal reports any tattoos that are considered too big, offensive, profane or unprofessional must be covered up while on duty. and athletes from around the world will be going for the gold next week at the summer olympics in london. well, it turns out the medal use in the olympic gold medal isn't actually gold, it's mostly silver. but it is worth more than the others, about $650 if melted down. the silver medal, by the way, is worth about half th

wolf?n places around there, right? >> reporter: that's right. we've even heard virginia or north carolina, but at this point, no indication yet from the white house where they will be traveling this summer for their shorter vacation. >> my feeling, let them go on vacation enjoy with the family. if they like martha's vineyard, let them go to martha's vineyard. >> i've never had a problem with the vacations. as long as i get one as well. >> yes, you will. >> all right. >>> here's one of the stories just coming into "the situation room." the jetblue pilot who after an emergency landing has been found not guilty by reason of insanity. clayton osbon was facing charges of interfering with a flight crew. he is now undergoing another mental evaluation. >>> also, no charges for former commerce secretary john brycean. the district attorney's office says there is insufficient evidence to prosecute him on a car crash. bryceson resigned june 21st. >>> and 2011 was bill clinton's most lucrative year ever

wolf?, ed, just to be precise, law enforcement is not saying whether or not he's on any medications that may have contributed to the dazed look that we saw? >> we have calls in to find out if that's the case. whether or not they'll answer the question is unclear. there's patient privacy issues there. so it doesn't seem they would be inclined to have to explain it in any kind of way. doing our jobs and try to explain if there's any kind of other explanation that may explain the behavior we've seen. especially since there's been so many reports that suggest that he's been acting very erratically inside the jail. so it seems like two very different pictures for what we've seen. and we only have a ten-minute window to gauge what we can from seeing him up close. >> up next, we're with the victims as the suspect, james holmes, appeared in court. we're going to take you back live to aurora for their reaction. >>> certainly so many of us were disturbed by today's television pictures of james holmes

sending it to wolf blitzer. wolf? >> ashleigh, thanks very much. >>> happening now, president obama and mitt romney are locked in a dead heat right now. when it comes to battleground voters, the numbers aren't so close. the brand new cnn orc polls are just in. we're breaking them down for you. standby. >>> also millions still without power, baking in record heat in washington, d.c., in the mid-atlantic, days after being clobbered by a deadly monster storm. is there any relief in sight? >>> and an american grad student fights for his life after being violently mauled by two chimps in south africa. ahead, the horrifying details of the attack. i'm wolf blitzer. you're in "the situation room." these numbers just coming in. let's go to the battle for the white house. a brand new cnn o.r.c. poll is just being released right now. take a look at just how tight the race is. among registered voters nationally, nationally. 49% say they are for president obama versus 46% for mitt romney. that's with a 2.5% samplining err error. d

wolf? >> is the white house suggesting, dan, that the president routinely uses that specific phone aboard air force one to debunk the political fund raising. >> they didn't say routinely, but an official told me they do have the phone. it's only used for the political events, for campaign phone calls. it's not paid for by taxpayers. it's paid for by the campaign. it is a phone that he has at his his disposal. unclear how often he uses it. >> phil burton will be joining us in the 6:00 p.m. eastern hour later today. he runs one of the pro-obama sup superpacs being crushed by the pro-romney superpacs. >>> warnings are up in at least 18 states today because it's dangerously hot. the trouble is, there's no way to keep cool. standby for an update. the passive power outages caused by a killer storm. a pair of would-be robbers use trash bags to disguise themselves. you'll want to see what happens when they ask the clerk to open the cash register. [ male announcer ] count the number of buttons in yo

wolfe raises many important issues there.them -- one that i continue to wonder about is the business model of big pharma. is a company like glaxo -- does it have anything in the pipeline that will replace a paxil and is that why they're desperate to maximize the profits from these pills? >> well this has been an issue across the pharmaceutical company industry. we have all of these huge blockbuster drugs that are now kind of reaching what they call the patent cliff when they lose their exclusivity. yeah there has been in many of these cases you know, difficulty kind of replacing some of these huge drugs and right, so they -- these companies do want to try to squeeze as much as they can. >> the pressure for offlabel marketing is enormous. the other thing dr. wolfe we'll have to continue this conversation is to have complete transparency about clinical testing data so it makes it harder to offlabel because then everybody would know what the risks would be. director of public citizen health research group dr. sidney wolfe, "new

wolf?d lavendera on the ground for us. other news we're following. cnn is on the ground inside syria. we're watching firsthand the fierce fighting going on. there are new developments. we'll check in with ivan watson right after this. d, verizon 4g lte phone. the global ready one ? yeah, but you won't need... ♪ hajimemashite. hajimemashite. hajimemashite. you guys like football ? thank you so much. i'm stoked. you stoked ? totally. ... and he says, "under the mattress." souse le matelas. ( laughter ) why's the new guy sending me emails from paris ? paris, france ? verizon's 4g lte devices are global-ready. plus, global data for just $25. only from verizon. last season was the gulf's best tourism season in years. in florida we had more suntans... in alabama we had more beautiful blooms... in mississippi we had more good times... in louisiana we had more fun on the water. last season we broke all kinds of records on the gulf. this year we are out to do even better... and now is a great time t

wolf blitzer, let me start with you. this is something that a lot of critics have said is a subject changer because we had real bad jobs news on friday and that just -- it riveted people throughout the weekend. is this an effort to change the narrative? >> it may be, in part, because the white house clearly believes this is a winning political issue for the president. he is going to make the point that for 98% of the american people, there will be no increase in their taxes. individuals making $200,000 or less a year. families making $250,000 or less, they will see no increase whatsoever. if nothing is done, everyone's taxes go up starting january 1st 2013, that's the so-called fiscal cliff. for 2% making more than that, they will go back to the tax rates that occurred during the clinton administration before the bush tax rates went into effect, 2001 and 2003. they will go back up to 39.6% from 35 or 36% right now. so, he will say these people can afford it. they will pay a little bit more. but it's not going to necessar

i'm wolf blitzer. you're in "the situation room." >>> the race for president of the united states is getting more brutal by the day. we begin this hour with mitt romney responding to a firestorm of controversy, surrounding his taxes and his time at bain capital. and he's accusing the obama campaign of stooping to a new low. our national political correspondent jim acosta had a chance on friday to interview romney. it was an excellent interview. >> thank you. >> and there were some real nuggets that we got out of it. >> that's right, wolf. the main issue we wanted to get to wasis role at bain capital and when he left that private investment firm. we asked mitt romney why his name still appears on government documents as the ceo of bain capital after 1999, the year he has said he left the company. >> -- that i left any role at bain capital in february of '99. and that's known and said by the people at the firm. it's said by the documents, offering documents that the firm made subsequently about people in

and has been involved in business and finance for over twenty years wolf welcome to the kaiser report thank you for having me max it's all right wolf richter you recently wrote about the fact that the wine bubble has burst this is what caught my eye because a lot of these alternative markets and indexes are out there and they reflect different aspects of the economy and they're used to glean information about which way things are going in the wind index is probably not well understood now tell us about the wind bubble and then what these constant bubbles tell us about the overall global economy so to speak to the fact that we're into this cereal bubble economy right a bubble or curs because it's too much money out there chase assets and so they plow into a new asset class like wines and we've china above of going on for ever so the chinese have become wealthy. servant central banks have printed lots of money and so one bubble after another occurred in two thousand and five it was winds that took off and they took off seriously these are. winds that are traded trade heavily so the five

and you see what is happening here, wolf.se is going to vote to repeal the president's health care reform bill. that is not going the go anywhere, but they now call that a large tax increase thanks to the supreme court decision. they are now talking about this as a tax increase, and so they are going to continue to call the president the largest tax hiker in history, and that is their hyperbole, and so that the arguments are just being played out here. sometimes i think that you ought to just send congress home when you get close to the election, because nothing is ever going to be done except for this kind of rhetoric. that is what we are seeing play out today. it is just more framing of the debate, and the republicans as dana bash has been saying this morning, the republicans are welcoming this, because it helps them define their argument for to mitt romney and the democrats are saying, okay, we are the ones who want to be fair and care more about the middle-class. and by the way, the polling, i should add, is with the pres