biggest dow selloffs of the year, we're back with dan henninger, and dan freeman, and mary anastasia o'grady. >> steve, happy days are here again? >> yeah. hardly. the problem with the speech that president barack obama showed is nobody really believes that, paul, and these new numbers on gdp show that this is an economy that is still suffering from what i call chronic fatigue syndrome. just isn't picking up the way normal recovery would. and what we're seeing in the gdp numbers, we're also seeing it in the jobs numbers. this is a recovery, if we can use that word, that's about half the pace of a normal recovery, and that's the reason you still have four million fewer workers today with jobs than you did in 2007. this is a really lousy recovery.
>> but, mary, we're seeing some ac segue racing from -- acceleration. fears of a recession seem at least for now to be put aside. so, 2% is not great, but on the other hand it's something. >> well, it tells you something that 2% makes you feel like spiking the football because the expectations at this point are so low. but there are a lot of other signals that are coming that suggest that the 2% is not just some kind of short-term malaise. looking forward, you have business investment that is very weak. >> very weak. >> you have, for example, mexican exports to the u.s. were stagnant for the last two months, and that tells you something about demand in the u.s. you do have some pickup in consumer confidence -- >> that's -- where is that coming from? coming from housey, where ben bernanke is shoveling all the money -- >> chairman of the federal reserve. >> right, into the credit markets and creating money to
>> but, mary, we're seeing some ac segue racing from -- acceleration. fears of a recession seem at least for now to be put aside. so, 2% is not great, but on the other hand it's something. >> well, it tells you something that 2% makes you feel like spiking the football because the expectations at this point are so low. but there are a lot of other signals that are coming that suggest that the 2% is not just some kind of short-term malaise. looking forward, you have business investment that is very weak. >> very weak. >> you have, for example, mexican exports to the u.s. were stagnant for the last two months, and that tells you something about demand in the u.s. you do have some pickup in consumer confidence -- >> that's -- where is that coming from? coming from housey, where ben bernanke is shoveling all the money -- >> chairman of the federal reserve. >> right, into the credit
with the seat held by retiring senator joe lieberman. connecticut hasn't elected a republican to the senate in three decades and mitt romney is running well behind president obama there, why is this race so close? we're back with dan henninger, matt, and mary anastasia o'grady. you were there for the republican primary, why is she doing so well? >> she's a marketing specialist and manage today rebrand herself for the campaign. she lost terribly. >> 12 points. >> spent 50 million dollars and got nowhere. this time around she saw what her vulnerabilities were, people saw her as overly aggressive and a wrestling promoter and turning herself using ads into a grandmotherly-- >> and people out of the ring, is that it. >> pretty much. and she has a very controlled message and managed to go on-- >> what is she running on, what is her message? >> her message is fairly negative. on the positive side i was in business, i bring this experience.
into the economic anxiety in the state. which is significant. and she's talking about her ability to get -- create jobs and having experience in the business world and chris murphy's experience is basically as a political protege of chris dodd. >> a protege of chris dodd, the former senator. now, murphy's attacking mcmahon for having declared bankruptcy in the past and not having paid the creditors, she and her husband vince mcmahon have since paid the creditors off, but it's leading to-- >> well, this is a race for the senate, but i must say it's a fairly lee representative race for the senate. >> professional wrestling style. >> that's one of murphy's primary points, that linda mcmanes represents the war on women, demeans women and so forth and it's worth doing because democratic registration far outpace republicans in that state, but mary is right, there's a lot of economic anxiety and the
the state. which is significant. and she's talking about her ability to get -- create jobs and having experience in the business world and chris murphy's experience is basically as a political protege of chris dodd. >> a protege of chris dodd, the former senator. now, murphy's attacking mcmahon for having declared bankruptcy in the past and not having paid the creditors, she and her husband vince mcmahon have since paid the creditors off, but it's leading to-- >> well, this is a race for the senate, but i must say it's a fairly lee representative race for the senate. >> professional wrestling style. >> that's one of murphy's primary points, that linda mcmanes represents the war on women, demeans women and so forth and it's worth doing because democratic registration far outpace republicans in that state, but mary is right, there's a lot of economic anxiety and the
much obviously. but what about this time? >> what reason is there to believe it would happen this time? >> he said this time it's unlimited. not going to end. every year, 40 billion a month right now, if that doesn't work, we'll buy another 40 and we'll buy another and another until it finally works. >> two things have to happen that haven't happened in the last four years, banks have to take this money and start lending it to productive projects. >> instead of sitting on the balance sheets. and borrowers have to take risks by taking out loans and putting them into productive projects. why hasn't that already been happening the past four years? there's no reason why banks shouldn't be lending and borrowers shouldn't be borrowing. there is a reason, that's because they're uncertain whether they will make money on both sides of the loan. >> because of the tax, the tax policy, regulatory policy and other government policies, which are separate from monetary policy. okay. but mary, the stock market is
slowness of this recovery. >> yeah, nobody expected obama to bring us back to where we were prior to his election, but how are we doing in terms of the recovery? more evidence that it's just not there. it's just not there, mary? >> i'm a little surprised that anyone is surprised because if you look at-- what's driving this is unemployment and you're out of work uyou're not having an income your household income is going to fall and unemployment over 8% for an extended period of time. we have underemployment around 15%, we have 40.7% of people who are out of work have been out of work for more than 27 weeks, fewer americans are working today than they were in 2000. and even though there's 31 more million people. >> that's an aamazing statistic. >> this is going to make people poor. >> well, jason, it's true that the property statistic didn't change that. but according to the sen cecens
he embargoed the statement until after midnight and they broke their own embargo and put it out on 9/11 and got in this sort of whole world, which they didn't need. >> mary, what about the differences between-- the real differences between romney foreign policy and obama foreign policy on the middle east. a couple of his advisors said, romney's advisors said those would include different earlier red lines on iran, helping the opposition in syria, with a lethal weapons if need be through arab intermediate arearies, and a stronger line with egypt. if you don't pull that, we'll pull american aid. >> as dan says, they've not talked much about foreign policy and one of the reasons why, president obama-- i'm sorry, candidate romney does not want to talk about foreign policy is he's afraid of being somehow connected with the bush administration, which, you know, engaged in two wars and so forth. i think he could get around that problem by saying, look,
he embargoed the statement until after midnight and they broke their own embargo and put it out on 9/11 and got in this sort of whole world, which they didn't need. >> mary, what about the differences between-- the real differences between romney foreign policy and obama foreign policy on the middle east. a couple of his advisors said, romney's advisors said those would include different earlier red lines on iran, helping the opposition in syria, with a lethal weapons if need be through arab intermediate arearies, and a stronger line with egypt. if you don't pull that, we'll pull american aid. >> as dan says, they've not talked much about foreign policy and one of the reasons why, president obama-- i'm sorry, candidate romney does not want to talk about foreign policy is he's afraid of being somehow connected with the bush administration, which, you know, engaged in two wars and so forth. i think he could get around that problem by saying, look,