ben bernanke says central banks are ready to act. all three major indices closed and agreed with the nasdaq surging 4%. nine of 10 sectors ended higher lead with technology and consumer discretionary. oil jumping 96.54 per barrel. 10% for the month of august, the biggest percentage gain since last october. consumer sentiment climbed in august rising 74.3 from 72.3 in july. price discounts and low interest rates boosted buying. david: try to figure out what ben bernanke is up to. i can guarantee he will have a clear idea because of these guys, we will strengthen it all out. telling us what area of the market he says is a buying opportunity of a lifetime and he has some ideas about what the fed was trying to tell us and former fed member telling us why qe3 is no longer on the table. in the pit of the cme. we always look to gold to see what is happening as a barometer of what the fed does or does not. is it time to sel seller doesn't have room to grow? >> the reaction is the same ways on 2010 and the same in 2011. this kind of policy ac

bernanke because these are important points i want to know why those are your key points. ok but first yap that one point five trillion if it gets lent out it's through fractional reserve lending so under a ten percent. system that could create fifteen trillion of excess currency in the currency supply another words. an enormous inflation except most deposits are under a there is no reserve ratio once a bank has more than i can't remember exactly what it was seventy or seventy three million the loans after the first seventy three million don't have a reserve ratio anyway to get back to the questions for ben bernanke that had been trying to ask in testimony to congress ron paul congressman ron paul asked is gold money and his reply was that no it is not money and then when ron paul asked why do central banks hold so much gold or why they still hold gold his answer was tradition well my question then is why do the central banks hold so much tradition and why are they accumulating more tradition yeah you know they're now net buyers of gold. there's i'd like him to. that's a l

about ben bernanke. the next situation is what our guest says is the most important situation. we have a portfolio analyst with us now. it is interesting to see angela merkel going around the world doing this. what do you make of this? >> well, she is trying to buy time and have a backup plan in case everything goes wrong in a few weeks. you have the court decision. you also have the report coming up. you have a report on the banking system. in the event that there is some sort of panic, she certainly wants to have some backdrops in place. so far, the germans do not seem to be buying. connell: how much power do central banks have. that is the debate we have here in the united states today. ben bernanke comes out and says unemployment is a great concern, i will help you out if you need it. what can you really do? interest rates are about as low as they really can be. what about europe? >> ben bernanke, i think what you said about ben bernanke is right, he does not have much power. in the case of europe, a

. >> ben bernanke gets ready to set speak at jackson hole. investors primed for any hints the central bank may take new acstha action to spur the company. >> mitt romney gives a rousing speech at the republican national convention. >>> and another warning sign from japan's struggling factories. industrial output falls in july. india gdp growth rises from 3 1/2 year loss. most analysts say don't expect from any near term help from the country's central bank. >>> okay. very good welcome to you. if you just joined us today on cnbc this is "worldwide exchange". we have some data. the rate unchanged at 10.7%. this is the july rate for italy. the june rate revised slightly down. 10.7 to 10.1. not quite as high as we thought. fairly elevated. still loads to get through on today's program. we'll be over at jackson hole as investors wait to see what ben bernanke will say about any new rounds of bond purchases. we have second quarter gdp figures which suggests india is going all right. we'll be out in paris where the french finance minister has told cn

federal reserve chairman the central planner in chief ben bernanke he trotted to the hill today to give another one of his economic outlook speeches as traders of course listen carefully for any news that might give them an edge on their daily speculations hoping to make a quick buck a quick buck it seems is all that americans can hope to make these days with interest rates suppressed at near zero for almost four years now forcing more and more hardworking people to speculate on riskier assets if they would like any sort of return on their money at all now for those who are less inclined to spin the roulette wheel there is always the comfort of your mattress which guarantees a return of at least some of your money whatever is not confiscated through what mr bernanke isso euphemistically calls quantitative easing we call it counterfeiting more confrontational folks may refer to it as outright theft some but officials though most notably fed gov janet yellen says there may be more ahead they've been hinting that the central bank may ease yellin in a recent speech to the boston economic cl

bernanke because these are important points i want to know why those are your key points. ok but first yap that one point five trillion if it gets lent out it's through fractional reserve lending so under a ten percent. system that could create fifteen trillion of excess currency in the currency supply another words. an enormous inflation except most deposits are under a there is no reserve ratio once a bank has more than i can't remember exactly what it was seventy or seventy three million the loans after the first seventy three million don't have a reserve ratio and they want to get back to the questions for ben bernanke that had been trying to ask in testimony to congress ron paul congressman ron paul asked is gold money and his reply was that no it is not money and then when ron paul asked why do central banks hold so much gold or why they still hold gold his answer was tradition well my question then is why do the central banks hold so much tradition and why are they accumulating more tradition yeah you know they're now net buyers of gold. there's i'd like him to. hav

there's a fine art to reading between the lines of ben bernanke. mitt romney is the official gop nominee for president. last night he went after what some have called president obama's war on success. >> consider the president's entire reelection campaign is attacking success. is it any wonder someone who attacks success has led the worst economic recovery since the great depression? [applause] >> in america we celebrate success. we don't apologize for success. stuart: a pretty clear message. do not punish success. however there is an equally clear message from democrats. you did well. pay your fair share because we helped you do it. isn't that true? >> that will be the message next week when they convene in charlotte. mitt romney did the effect of thing. he laid out a very clear choice between wealth redistribution class warfare and stated some of president obama versus the message of freedom in all its forms of governor romney and paul ryan especially economic freedom. he spoke of american exceptionalism and that reinforce the message when it was

will ben bernanke unveil a new plan on friday to stimulate the economy? the fed chairman might have second thoughts about doing anything given news today that the economy grew faster than previously thought. the g.d.p. rose at an annual rate of 1.7% in the second quarter, up from the 1.5% originally reported. also today, the federal reserve's beige book report showed all of the central bank's 12 districts expanded gradually in july and august, thanks to a pick up in housing, and retail sales. still, the economy is not where it should be, and that has many stock investors on edge. suzanne pratt reports. >> reporter: the last week of august is one of the quietest of the year here at the new york stock exchange. a quick look at the paltry trading volume tells that story. but, look out for friday. that's when federal reserve chairman ben bernanke gives a speech in jackson hole, wyoming to economists and central bankers. investors are hoping he'll indicate he's ready to do a new round of bond purchases, designed to keep interest rates low and encourage more bo

just missed doing that after ben bernanke started speaking. but we're now up, half of the session high. but, still firmly higher. as you said earlier if you look three months charts we've been up for all three major averages for the past three months. really nice gains, stronger gains for the nasdaq and s&p 500, if you're looking at the monthly basis. so really has been, been a pretty strong session today on wall street for us heading into a three-day weekend. volume is light. been light all week. little lighter than usual today. oil make as nice gain at that. dollar is down. that is helping to energy rise a little bit. got positive data today as well. consumer confidence, best number in three months, in august. factory orders in july also rose more than expected. so not a bad friday. back to you. tracy: thanks. we'll see you in 15 minutes. ashley: as lauren said, the markets got an early bounce from bernanke's speech, even though he really didn't announce anything new as regard to stimulus. what did he say? adam shapiro with the details. adam

will history prove that ben bernanke is right? that this is something that saved and helped the u.s. economy or not? >> i think history will prove him right. i think that it's very, very -- i want to do three "verys" misleading to talk about spending money. it is correct to say the fed has been involved in a balance sheet transaction. it has been buying assets. it is holding those assets on its books. it believes, and i think there is evidence to support this view, that those assets will make money for the taxpayers. so to compare this to government spending is just misleading. number one. number two, i think it's really misleading to suggest in any way that bernanke and the fed would be influenced by the election in terms of what they would do. this is an evidenced-driven group. that's why they cited the 43 studies. unlike, unlike, if you listen to the speeches of the candidates in the convention this past week, there was no evidence. there were just assertions and there were asterisks. so the fed is following a set of evidence.

cheryl: honestly i consumer ben bernanke wouldn't do stimulus. there are lots of mario's. >> the ecb meeting in frankfurt, taught that they will meet for the german called, for their decision on the 12th of september regarding the constitutional legality of having full-blown bailout in germany, but what will the ecb do? a lot of hopes they will announce the bond programs this time around. cheryl: tracy byrnes is off today, probably at home because she is sad "jersey shore" was canceled. probably at home sad. >> she is. we have a lot of great guests. there is problems on the mississippi, now we have the dominance of isaac creating other sorts of problems on the mississippi. a tough time to be a part owner. we will find out how tough coming up at the top of the hour. cheryl: that'll be a great interview, thank you, ashley webster. dennis, over to you. dennis: for a balance, i will say i love "jersey shore." stocks, and shares of sears. probably a spinoff but sliding on bad news from the s&p. loren. lauren: effective on septembe september 4, the sto

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will history prove that ben bernanke is right? that this is something that saved and helped the u.s. economy or not? >> i think history will prove him right. i think that it's very, very -- i want to do three "verys" misleading to talk about spending money. it is corrt to say the fed has been involved in a balance sheet transaction. it has been buying assets. it is holding those assets on its books. it believes, and i think there is evidence to support this view, that those assets will make money for the taxpayers. so to compare this to government spending is just misleading. number one. number two, i think it's really misleading to suggest in any way that bernanke and the fed would be influenced by the election in terms of what they would do. this is an evidenced-driven group. that's why they cited the 43 studies. unlike, unlike, if you listen to the speeches of the candidates in the convention this past week, there was no evidence. there were just assertions and there were asterisks. so the fed is following a set of evidence. th

no one questions ben bernanke's expertise or motives. many people disagree with the policies that have been done so you could expect under a new federal reserve chairman to see those calls go another direction and less of the very aggressive fed action we have seen in recent years. dagen: because the federal reserve -- whether you're admitted or not is highly politicized in a way that because if unemployment is north of 8% or we are in the middle of a financial crisis the fed even if not told directly is expected to do something. with anybody in the past have been doing anything different than what we saw? do you see what i am saying? >> they have been under tremendous pressure and in part they are under pressure because the administration and congress have dropped the ball in providing effective fiscal policy. we face this fiscal cliff at the end of the year which is a big threat to economic growth at the moment. in those circumstances i think any profession will say we have got to do something. something is better than nothing. there a

>> susie: ben bernanke made a strong case today that the u.s. economy needs more stimulus and he's ready to give it another dose to boost growth. his message was clear and delivered with conviction. investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policies to spur growth. and bernanke concluded by saying the fed will provide additional policy accommodation as needed. >> tom: that statement was a buy signal for investors. they bought up stocks on the belief that the fed is on the ofe rgin treg akiomo verge of taking more action to stimulate the economy. blue chips rallied triple digits but pulled back by the close. the dow jumped 90 points. the nasdaq added 18 a

>> susie: ben bernanke made a strong case today that the u.s. economy needs more stimulus and he's ready to give it another dose to boost growth. his message was clear and delivered with conviction. investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policies to spur growth. and bernanke concluded by saying the fed will provide additional policy accommodation as needed. >> tom: that statement was a buy signal for investors. they bought up stocks on the belief that the fed is on the verge of taking more action to stimulate the economy. blue chips rallied triple digits but pulled back by the close. the dow jumped 90 points. the nasdaq added 18 and the s&p rose seven

the dollar is in response to ben bernanke's speech today. if you expect the fed to lower rates, that's what's happened today here with a deline of half a percent on the dollar index for this day. look at the indecision for the dow, especially, and we're just seeing again more volatility here. here was when bernanke started speaking, they could not make out what to make of it. we are going up. now we're up 117. as we go to the lose here. real indecision there and the yield on the ten year intraday similar volatility here. we're going down to 1.55%. and we showed you all summer the yields have been coming down here. for the month as we close out the month of august, a good month overall for the dow with a gain for the month to 13,117. we have bounced off of that level there, and for the ten year, the yield down to 1.55% up 5. % in that month. we're below 1.5% as we begin month of august. steven gallager a happy birthday, but he may not have time to separate. >> thursday is a very big day. draghi will be telling us about the future bond buying

>> susie: ben bernanke made a strong case today that the u.s. economy needs more stimulus and he's ready to give it another dose to boost grth. his message was clear and delivered with conviction. investors around the world had been waiting eagerly to hear the fed chairman's speech in jackson hole wyoming and stocks in the u.s. rallied in reaction. here are the highlights: bernanke said even though the economy has benefited from fed policies over the past few years. the outlook is still quote "far from satisfactory." he described the high unemployment rate a grave concern. he believes the fed should continue using non-traditional policieso spurrowth. and bernanke concluded by saying the fed will provide additional policy accommodation as needed. >> tom: that statement was a buy signal for investors. they bought up stocks on the belief that the fed is on the verge of taking more action to stimulate the economy. blue chips rallied triple digits but pulled back by the close. the dow jumped 90 points. the nasdaq added 18 and the s&p rose seven. trad

dave: federal reserve chief ben bernanke is not a huge fan of ben bernanke. we just played his feeling that qe 3 wouldn't do better than qe2 or qe 1 did. does he say who he would pick the head the federal reserve if he doesn't appoint ben bernanke? >> this issue became -- glenn hubbard from columbia university raised this issue saying mitt romney should reconsider his position that he doesn't want ben bernanke for another term. not that he is looking for the job but mitt romney said no. ben bernanke is not my guy. he threw him under the bus. it was interesting. i said what about hundred? is he not potentially a candidate to become chairman of the federal reserve in a romney administration in 2014 and he said on haven't really looked into that but he mentioned hubbard as a good adviser as well as greg -- i keep getting -- can't get that one out -- at harvard university as one of his advisers. interesting he offered that. liz: glenn hubbard is head of the business school. dave: maybe should reconsider appointing -- >> that is why -- [talking over each other] li

currency traders awaiting ben bernanke's jackson hole speech tomorrow. andy bush joins us to look ahead to tomorrow. andy, so spain comes out and in a fight with the ecb of the bailout and pushed the euro lower. was that a justified move? >> yeah, well, you know, earlier in the day we had comments of chinese premier wen to buy securities out of the eurozone and pushed it up and fell under its own weight. we are getting the point right now with the expectations of draghi out of the ecb or ben bernanke, they just ran so far so fast in august, very thin volume month, that we are due for some pull degrees backs here. >> what's the trade then on the euro? >> this is a pretty simple one. you want to continue to sell anywhere up near 1.26. i think 1.2775. a 50-point stop. look for three times that on the downside down about 1.2425. tomorrow, ben bernanke running through the list of things they can do. he won't act tomorrow. we have to wait until september. the markets have no place to go in front of a long holiday in the united states. >> what does the dollar d

ben bernanke he gave a hint that there will be a new wave of quantitative easing and developed on that bit later for out the year . now one of european union's a few growth stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. or let's go further down to the russian markets now where it's the old looking kind of undecided today with my six going down point six percent but the r.t.s. is a bit higher on a stronger ruble and russian markets are not having a good week indeed it seems that the previous weeks of growth have all come up to this kind of mean much needed correction that's exactly what's happening and one of the biggest losers and drags is. lukoil afterwards said that it's been buying up around two and a half billion dollars worth of shares but appa

>> he's standing on ben bernanke? >> get away from me. >> meantime, quietly dealing with a looming problem. reaching the limit. it is the scarcity solutions. >> over the last six decades, america's trillion dollar tech industry has been fueled by silicon's ability to continually increase computing power. scientists see that competing power reaching the limit. >> silicon will probably run out of steam maybe early 2020s, maybe mid-2020s. it's unclear. >> tech giants hunting far solution. the team at ibm outperformed silicon with carbon nanotubes in a chicken wire-like structure. >> we have single transiters better than silicon or any other material around. >> the technology is till in the infancy. as the slew of proposed silicon alternatives. >> none of the solutions so far are ready for prime time. it takes maybe ten years to commercialize these technologies once they're finished. none of these technologies are even finished. >> reporter: and that means that the industry could be facing decades of flat growth until a s

any kind of hint as to economic stimulus because two years ago at exactly the same meeting chairman ben bernanke he gave a hint that there will be a new wave of quantitative easing and developed on that bit later for out the year . now one of european union's a few grove stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an end. or let's go further down to the rushed. in the markets now where it's still looking kind of undecided today with my six going down point six percent but the odds years is a bit higher on a stronger ruble and russian markets are not having a good week indeed it seems that the previous weeks of growth have all of this going to mean much needed correction that's exactly what's happening and one of the biggest losers and drags lukoil after i

also, all yours turn to ben bernanke. is he ready to take the plunge to save us? ten financial ceo weighs in. we are on the case next on "the willis report." gerri: up next time you won't be seeing many bankers at this year's convention. the banking baking sheet is here to explain why in 60 seconds gerri: things are certainly different than they used to be. big banks won't be feeling better at either of this year's conventions. my next guest says there is a very good reason for this. neil weinberg joins me. he is the editor and chief of "american banker." >> there has been a huge change of the last four years. four years ago come the most famous thinkers in the country were at the democratic national convention in denver. gerri: rahm emanuel was partying with the jpmorgan bosses? >> right. susan sarandon, a stalwart type was there as well. they were also a mob with bank of america because it was investing in green technology. there is a real lovefest that existed between the banks and democrats have been. gerri: even republicans don't want to be seen with bankers,

economy is pretty harsh well chairman ben bernanke he indeed said on friday that the federal reserve will do more to boost the economy because of high u.s. unemployment which he said was due to cyclical problems in the economy and an economic recovery that remains far from satisfactory quote he also argued that the fed's moves so far indeed to keep interest rates at record lows to encourage borrowing and encourage spending have helped bolster the economy and so therefore this has been taken in positively on the markets but on the other hand the lack of factual information as to when how volumes of easing he did not say any of that and therefore let's take a look at what's happening on the dow jones and on the nasdaq and they are up but they're up within around half a percent so it's quite moderate indeed i one point one manufacturing data came in for the month of july which showed a jump of two point eight percent in the month also propelled the dow jones up more than one percent but as you can see profits have been reducing over the past. well it's over in europe now this optimism c

will ben bernanke make a move? that's the big question out of the fed's chair big speech in jackson hole, wyoming, tomorrow. stocks today, though, seemed to maybe already have the answer. major u.s. averages falling as the hopes for more easing appear to have eased themselves. at least for now. let's turn to our traders. what do we make of today's action? john. >> i like the action today. i think this is typical of what we -- >> on the short side. >> it is. we talked about it earlier in the week. we said, what are you going to see ahead of this fed meeting in jackson hole? you're going see selling. why is that? nervousness always occurs before these events. it's happened every time whether it was greece, spain, italy, u.s. issues. it's always happened, folks. has it been a buying opportunity? the answer is yes. now, whether or not this one will be, we don't have to wait even 24 hours to find out that answer. >> it's interesting. i think everybody's pointing to the holiday week. i understand that. i think this week

gerri: we have a speech from ben bernanke. were you expecting? >> you know, i think we will expect a fairly dry and fairly subtle, a fairly nuanced central-bank speech. on one hand come on the other hand we are worried about this and we are paying attention to that, we are being careful. we are going to be ready to do whatever we need to do. at the end of the day, we are not going to say very much. that makes sense because it's hard to know what to do. the fed has done a ton. there is not much more that we can do. gerri: don't you think we should take some kind of action in september. there are a lot of people who believe the election is approaching and there has to be heavy pressure to do something. we are still at a point to% unemployment. this is key to the federal reserve. don't you feel that they have to do something? >> i think you would worry about that and the republicans would go ballistic. it would be perceived as helping obama win the election. rightly or wrongly. i kind of expect nothing. nothing major. gerri: i figured that wall stre

ben bernanke jackson hole speech leading to a whipsaw day for stocks the fed chairman announced no new firm plans for new stimulus but made clear the u.s. central bank is ready to take more steps if necessary. after rising as much as 150 points, the dow closed the session up 90 points. stocks also closed august with their third straight monthly gain. >>> shares of facebook sliding to a new all-time low. two analysts from two banks that underwrote facebook's ipo cut their price targets. facebook shares are 52% below the ipo price. >>> the model will reportedly be offered at a discount compared to tablets not supported by advertisements. shares of amazon, they closed up 1% today. >>> if you've been wondering where melissa francis has been for the past week we've got an answer for you. she has been on special assignment in the persian gulf reporting on the heightening 10 shn in that region and how that affects the price of oil right here in the united states. she joins us live tonight from bahrain. melissa, great to see you, safe and sound. you spent the night on the uss enterprise, the c

economy is pretty harsh well chairman ben bernanke he indeed said on friday that the federal reserve will do more to boost the economy because of higher u.s. unemployment which he said was due to cyclical problems in the economy and an economic recovery that remains far from satisfactory quote he also argued that the fed's moves so far indeed to keep interest rates at record lows to encourage borrowing and encourage spending have helped bolster the economy and so therefore this has been taken and positively on the markets but on the other hand the lack of factual information as to when how volumes of easing he did not say any of that and therefore let's take a look at what's happening on the dow jones and on the nasdaq and they are up but they're up within around half a percent so it's quite moderate indeed i one point one manufacturing data came in for the month. july which showed a jump of two point eight percent in the month also propelled the dow jones up more than one percent but as you can see profits have been reducing over the past couple of days over in europe now this optim

. -- federal reserve chairman ben bernanke says the u.s. government is ready to act to stimulate the economy if needed. >> in a speech to central bankers in wyoming, bernanke said he was gravely concerned about the stagnating labor market. the u.s. economy is so weak that it is hardly creating any jobs. the fed's next policy meeting is september 1 analysts expect a decision on a third round of quantitative easing. those statements from ben bernanke and the prospect of further quantitative easing in the u.s. put investors into a positive mood on the last day of the trading week. our markets correspondence has more. he sends us this report from the frankfurt stock exchange. >> the doors for more quantitative easing in the united states remain open. this is what the market mix of the statements of ben bernanke, the fed chairman, in jackson hole, wyoming. his speech caused the stock market in frankfurt to end this last trading day of the week on the upside. the euro also was again up on statements by the french ecb director, fuelling speculatio

ben bernanke speaks tomorrow. we are down 102. look at gold. we are down $1.90 a around the 60 level. the price of oil, we are down $0.70 and down $94 a barrel. sears is going to be out of the s&p 500 next week so what is happening to the stock? >> it is one of the worst performers in the s&p 500. is being booted out of the s&p 500 as one of the original members going back to 1957. you have a big decline. on september 4th will be replaced. those shares are up but surprisingly -- i didn't realize this. sears is up 80% this year. , or pull back after a fantastic day. stuart: 80%. i didn't know that. thank you. there's nothing new on the jobs front. 374,000 people filed unemployment claims last week, the same as it was the week before. still a very high number. joining the company from chicago is brian westbrook with first trust advisers. here's my characterization of the economy. we are bumping along the bottom. we are in very low gear. we are not in reverse but we are in very low gear, very little growth and it won't improvements -- much for the

there are so we have clear evidence of this because the us as a debt problem and ben bernanke the solution over there at the fed is to just monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes yes for that what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr ben one key realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that is monetizing that to this degree they do not realize the consequences of what they're doing and there will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what has currently been printed to just start spinning quickly and once thin

well as promised which is next with the business news and how the markets reacting dimitri to ben bernanke is key speech in wyoming any sensations that well the market reaction is quite moderate because the answer is kind of yes and no because chairman ben bernanke he was talking a lot about quantitative easing what everyone was expecting basically from him but when it comes to factual data as to when how and volumes there was no basically no indication of that but chairman ben bernanke he made clear that the federal reserve will do more to boost the economy because of high u.s. unemployment and an economic recovery that remains quote far from satisfactory he also basically talked about the high unemployment rate that this is the result of cyclical problems in the economy but again when it comes to quantitative easing he hinted that it could be done but no factual no factual data here so let's take a look at the numbers then the dow jones now is up point six percent last hour we looked at it was up more than one percent so it's kind of the hype is calming down and indeed we could just say

all right fed chairman ben bernanke is due to start talking at around thirty five minutes time at least expected to so next hour how for more information on that for you all right thank you very much for that update on the train i will be back with a recap of our top stories in just a couple of minutes stay with us. well the first serious technology innovation all the latest developments from around russia we've got the future covered. claims. wealthy british style. markets why not come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report on our. first. few. hello and welcome to our team karen terrell with your top stories the winner takes it all the loser's standing small the russian self the exiled tycoon bodies for the result is left empty handed after it runs an import dismisses his hat to a lawsuit against billionaire but imo rich. turkeys pitch for a syrian intervention has a dead end the new one leaving nato countries with morning they might simply provide the security co

as a debt problem and ben bernanke the solution over there at the fed is to just a monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes only yes for what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that's monetizing that to this degree they do not realize the consequences of what they're doing and they will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what is currently being printed to just start spending more quickly and once things start spinning nothing can slow down no centra

futures are also pointing to a positive start and this is all on hopes that ben bernanke you will announce further stimulus maybe a new wave of quantity easing although personally i doubt that there will be any kind of indication because we know we've had this story many many times that investors are very much anticipating this kind of action from the government but it seems the economic data is not bad enough to have one thing on the market i mean i won't be disappointed if i'm a. second ago a more stories now one of european union's a few growth stories poland is feeling the squeeze of the downturn the country's second quarter growth eased to two point four percent the lowest in three years and significantly below the forecast poland's g.d.p. kept expanding over the last few years well much of the e.u. showed negative growth at a series of gloomy economic indicators show that the so-called economic miracle is coming to an. all right let's move over to the russian markets and it's kind of out of sync from its global peers with the my six actually declining point three percent the past cou

fed head ben bernanke paves the way for more easing, and stocks soared. jim le camp of ubs will read the investment tea leaves. free market capitalism is the best path to prosperity. please, mr. romney, please, mr. ryan, i know you can do it. i'm offering tough love. free market capitalism with incentives. i'm kudlow. we'll be right back. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's ho

hopes of new stimulus are fading ahead of ben bernanke's street. will the chairman slap back wall street's begging snand economist john taylor live from jackson hole. >>> plus the spotlight turns on mitt romney. just hours until the gop candidate's biggest campaign moments yet preparing to lay out his economic vision to jump-start the recovery. one of the romney campaign's top advisors is here with a preview. >>> hedge funds go madman. congress lifts a decades old ban allowing secretive investment firms to begin advertising. can an ad blitz score enough business to revive a struggling industry? even when they say it's not, it's always about "money" adam: good afternoon to you. we want to take a look at the day's market headlines as we head into what is going to be a big day of news especially out of tampa. first the bears waking up from their recent slumber. spain holding off on a decision to request a bailout and rising skepticism over a new round of stimulus from the federal reserve pounding stocks today. the dow traded below 13,000 for the first

there are so we have clear evidence of this because the us as a debt problem and ben bernanke the solution over there at the fed is to adjust the monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes only yes for what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that is monetizing that to this degree they do not realize the consequences of what they're doing and there will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what has currently been printed to just start spinning quickly. once t

as a debt problem and ben bernanke the solution over there at the fed is to just a monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes yes for that what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that is monetizing that to this degree they do not realize the consequences of what they're doing and there will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what has currently been printed to just start spinning quickly. once things start spinning nothing can slow down no central bank

i want ben bernanke to walk into a walmart and ask that person how more inflation will be better. the geopolitical risks, commodity prices going higher, and i guarantee wages will not go up. ben bernanke will hurt the standard of living, and it will be detrimental to economic growth. >> i love peter and i think he's right, people buy things beside commodities. there are other things that go into an inflation basket than that. >> ron, how do you allocate capital in the face of all of this? >> what's worked lately -- people are looking for yield. there is none available in the bond market. good companies, strong balance sheets, and decent dividends. so, we tell our clients we want balance sheets better than the treasury but that's a lower bar. >> good conversation. >> see you soon. >> heading toward the close. anything can happen here. we're watching this market come off the lows, but not by much. >> a lot for store sistfor you this thursday edition of "closing bell." >> fiscal cliff or not, mark fabre says we're going into a recession. and paying up, more and more economists are sa

but as promised which is next with the business news and how the markets reacting dimitry to ben bernanke is key speech in wyoming any sensation that well the market reaction is quite moderate because the answer is kind of yes and no because chairman ben bernanke he was talking a lot about quantitative easing what everyone was expecting basically from him but when it comes to factual data as to when volumes there was no basically no indication of that but chairman ben bernanke he made clear that the federal reserve will do more to boost the economy because of high u.s. unemployment and an economic recovery that remains quote far from satisfactory you also basically talked about the high unemployment rate that this is the result of cyclical problems in the economy but again when it comes to quantity easing he hinted that it could be done but no factual no factual data here so let's take a look at the numbers then the dow jones now is up point six percent last hour we looked at it was up more than one percent so it's kind of the hype is calming down and indeed we could just say that the mar

liz: it was president bush who nominated ben bernanke and the term was up 2014. a rough couple of years. peter: he didn't want to stay and finish. more work to do. liz: charlie was asking was better looking. you or mitt romney. i said you because of the eyes. we will hear from viewers. >> i am blushing. the cowardly lion. liz: thanks very much. let's look where investors are putting their money in this tentative climate. you all are so scared you are going into bond funds. $7.61 billion went into bond funds and $3.92 billion went into money-market funds. and $3.2 billion out of equity funds. does this mean investors are still looking for safety and should they be and in what form? let's bring back tony chrisiny. [talking over each other] liz: does it surprise you to see those numbers? >> no. this is the trend for more than a decade. financial bubble in 2000 scared people lot of the stock market. at that point in time household representing half the stock market capitalization sunk to the mid 30s and stayed there. the population is aging. last year was the first y

has a debt problem and ben bernanke the solution over there at the fed is to adjust monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes only yes for what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that's monetizing that to this degree they do not realize the consequences of what they're doing and they will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what is currently being printed to just start spinning quickly. once things start spinning nothing can slow down no central bank w

has a debt problem and ben bernanke the solution over there at the fed is to adjust monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes yes for that what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that is monetizing that to this degree they do not realize the consequences of what they're doing and there will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to start escalating thing you only need what has currently been printed to just start spinning quickly. once things start spinning nothing can slow down no central bank