england's chief sent the country's economy is at its lowest point since the one nine hundred thirty s. if not ever british godfrey bloom says the chancellor of the exchequer has a policy of printing more cast in disaster. he's inventing money electronically out of absolutely nowhere it's called quantity of easing but actually it's counterfeiting money it's doomed to failure it always fails it's failed in the policy it's never been successful if it was successful why doesn't he give money printing machines to every family in the united kingdom that they could put in their attic and print money whenever they want to go and buy something it props up the banks for a little bit longer but it doesn't do much else old many people don't get it and what it actually has a terrible effect of it degrades the current c. currency pound a medium of exchange you know flooding the market with them isn't going to actually help the economy a toll on a cool depression is truly interest rates which means old people's pensions people on fixed income old suffer from this quantitative easing and of course fur

england chief said the country's economy is that its lowest point since the one nine hundred thirty s. if not ever but if euro entry got free bloom says the chancellor of the exchequer us policy of printing more cash will end in disaster he's inventing money electronically out about. it's called quantitative easing but actually it's counterfeiting money it's doomed to failure it always fails it's failed in the policy it's never been successful if it was successful why doesn't he give money printing machines to every family in the united kingdom that they could put in their attic and print money whenever they want to go and buy something it props up the banks for a little bit longer but it doesn't do much else ordinary people don't get it and what it actually has the terrible effect of it degrades the currency currency pound notes really a medium of exchange you know flooding the market with them isn't going to actually help the economy atoll and of course it depresses actually interest rates which means old people pensions people on fixed income all suffer from this quantitative easing

england chief said the country's economy is that its lowest point since the one nine hundred thirty s. if not ever british euro m.p. godfrey bloom says the chancellor of the exchequer is policy of printing more cash will end in disaster he's inventing money electronically out of absolutely nowhere it's called quantitative easing but actually it's counterfeiting money it's doomed to failure it always fails it's failed in the policy it's never been successful if it was successful why doesn't he give money printing machines to every family in the united kingdom that they could put in their attic and print money whenever they want to go and buy something it props up the banks for a little bit longer but it doesn't do much else ordinary people don't get it and what it actually has the terrible effect of it degrades the currency currency pound notes a medium of exchange you know flooding the market with them isn't going to actually help the economy a toll and of course it depresses truly interest rates which means old people's pensions people on fixed income old suffer from this quantitative

. >> the loser if moody's has it downgraded. tomorrow, we are born to be talking losers in the market. because of the issue with spain, apple, s and p 5 under, those two things are going to meet tomorrow to lose a market unless something crazy happens. however, i like of financial markets are going and i see a buying opportunity. >>catherine: thank you, we will see you, tomorrow. ♪ >> happening right now one must vegas the republican national debate. you can see this log. we're keeping tabs and all eyes are on this. herman cain the former ceo of godfather's pizza has surged recently. it is virtually a dead heat with mitt romney. herman cain is promoting his 999. most of the other candidates have attacked it. >> one thing i know about congress because i was a member of congress for five years and the time you give congress a brand new tax it does not go away. >> it is a jobs plan. it is revenue-neutral it does not raise taxes on those that are making the least. all of those are simply not true. >> the fact of the matter is that

s&p left the door open to further rating cuts. moody's and fitch rating still scored aaa, but moody's has a negative outlook and also warned a risk of a downgrade if further fiscal consolidation measures are not adopted in 2013. the way the committee was set up by congress, there is something called a trigger if the super committee deadlocks or the president vetoes their proposal. >> what happens then in that year, the first year, you get a 9% cut in defense spending and nonexempt domestic spending. things like social security, medicaid. >> reporter: things like medicare, homeland security spending in addition to defense cuts. that would take efeblfect in 20. the merrill report predicts uncertainty for the investors and the markets ahead. downgraded the u.s. credit rating, the stock market dropped 7%. most of the work of the supercommittee has been done behind closed doors. there is a public hearing scheduled for this wednesday, but only five more weeks to go until congress has until december 23rd to vote on whatever proposals the

s & p left the door open to further rating cuts if there's less reduction in spending than agreed to. moody's and fitch scored the bond triple a but moody's warned risk of downgrade if further fiscal consolidation measures are not adopted in 2013. but the way the committee was set up by congress, there is something called sequestration if the president vetoes their proposal. >> you get about 9% cut in defense spending and in nonexempt domestic spending. on the domestic side, things like social security or medicaid are exempt, others aren't. >> medicare, homeland security spending in addition like defense cuts, that would take effect in 2013. the meshl report predicts a lot of uncertainty for investors in mark it's head, on the day the s&p downgraded the stock market dropped 7%. >> most of the work of the super committee has been done behind closed doors. there a kpub lick hearing scheduled for this wednesday but they only have about five more weeks to go and congress has until december 23rd to vote on whatever proposals they come up with. so wolf it is a very tall order and you know h

moody's warned they may downgrade. b. of a., coca-cola and goldman sachs each gained. ibm dropped 4%. right now, the dow is up 3. the nasdaq is up 1. s&p is up 3 1/2. >>> bank of america all righted third-quarter earnings and the bank said it made 6.2 billion. they say the profit is mostly due to the sale of a sake in a chinese bank. this comes after bank of america lost the number one title in assets to rival j.p. morgan chase. >>> more signs that credit cardholders are struggling. five of the nation's top six credit card companies say late pavements were up last month. the increases were all smaller than 1 percentage point. it's the first time since between of -- since february of 2009 that there was an uptick of late payments within the last -- within 50 days. 300 days. >>> a young mother? the east bay is demanding answers. jessica smith says she got a call from the daycare and was told that her 5-month-old son had stopped breathing. she had dropped him -- dropped him off at the daycare center hours earlier and said he was put in a bed on his stomach. the. >> i don'