Im not going to vote for any plan that will get a majority of republicans in the house. As a result take a look at the futures this morning. You will see that there are some red arrows once again. Dow futures down by 93 points below fair value. The s p futures down by 10 points. Andrew, ill send it over to you. The bond market today not open because of columbus day which may have a little bit of an impact in terms of the odd dynamic between the stock market and what people think is going on. Also reaction this morning to the situation in washington. Imf chief Christine Lagarde shes now warning of, quote, massive destruction to the Global Economy if the u. S. Debt ceiling is not lifted. Deutsche bank ceo says it would be, quote, a very rapidly spreading fatal disease. I havent heard it put in those terms in a very long time. Jpmorgan boss jamie dimon warned banks are spending money. Quote, we need global growth. We are on the verge of getting it. Please, lets not shoot ourselves in the foot. On a similar note, former treasury secretary Larry Summers pending an op ed in the Financial Times he argues a small rise in the Economic Growth would entirely eliminate the budget gap. If even half the energy that had been devoted over the past five years to budget deals were devoted instead to growth strategies, we could enjoy sounder government finances for restoration of the power of the american people. Joe, i think thats a message that republicans and democrats have to learn. To hear Larry Summers say that and if he can get some of his democratic friends on board, it could help a lot of things. He lives. He lives. Were going to try to get him back on the show. Kind of like hes coming out. Debutante. He was not around and now he is. What was the store bring before that that you said, andrew . We had jamie dimon, we had jamie dimon. Jamie needs some growth. Needs to make a little money for the bills, the legal bills, right, from last week. Definitely needs growth. We all do. I dont know what larrys growth is. Instead of arguing about a budget should have been doing proactive things to create growth or no, hes back on infrastructure. Hes back on what is the role. Some of it is how do you reduce some of the regs and things like that. A lot of it is what else can we be doing on the infrastructure side. It solves all the problems as you like to say. Youre borrowing money from china to do the infrastructure stuff. I bet republicans would take spending for cutting entitlements. Its monday, walking dead. This other stuff, i feel like its out of my hands now. Ive tried. You know what, i feel ive tried. Do something. Just get it done. Mcconnell. Two steps forward, one step back with this. Now were back to looking at sequestration level. I know. Obama. Just i feel like its out of my hands, andrew. You feel like youre going to washington on thursday. I think youre going to washington on thursday. Tomorrow is the day im worried about. Today im not so worried. I dont think you should be worrying. You think they have it organized so theres nothing to worry about . No. I think its going to happen. Im tired of the back and forth. I think it will happen so late on wednesday well already be in washington. Thats my prediction. Go down there. Anyway jill, why dont we take the last whats the last flight out . Yeah, im not tlieflying. I like the train. Get buffalo chilly. Chili. You try new seafood items on a train. Say what . You have a muscle crab risotto. Okay, bring it. Chinas official news agency is calling for the creation of a deamericanized world. Im not sure what that means. It sounds scary. The destinies should not be left in the hands of what it calls a hypocritical nation with a dysfunctional government. They have the taliban. Yeah, their right. Lets throw them together, china, russia, the taliban. The news agency doesnt want the dollar used as the International Reserve currency. Even though theyve pegged the dollar for how many years. Kick us while were down. Well remember this. Check the markets. The futures are down. We made up 400 on thursday and friday. Thats because there was hope. Yeah. Theres always hope. 15 2,237 is where the dow wa. We came rolling back up. If i were mr. Gold, and im talking about bouillon, id be showing signs of life. Well look at that. Energy, that makes sense. You figure that might go down. The dollar, maybe were not quite as nice as the best house in the neighborhood with whats happening. Its only what month is it . Is it october . Im thinking of europe in the summer. Would he have time to get back below 130 and maybe below 120. This should be moving. Lets go. The world is i mean, this has never happened before and no ones rushing to the quality of gold. Thats weird. If were going to default, i think gold would be reacting a little bit more positively than 12,076. Were getting near the multiyear low. Time for the Global Markets report. Ross westgate is standing by in london. I guess youve got some stuff over there, but i think about saturday and what i saw with college, i think about all of the nl and al championship games. I think about tom brady yesterday watching what happened and all of the other bengals. I feel sorry for you. You dont have all of that. What went on in the u. K. Over the weekend worth talking about in toermgs of sports . Can you name one thing . I hope you get a football team. World cup qualification games, joe. World cup qualifiers. That was it . Yeah. Its the last are you open to saying thats something worth if you like that, sure. In brazil this is whats coming to brazil next year. Could you get nfl games if you wanted to over there . Is there a way to do it . Yes, you can watch them. Yeah. But you i think there was you know what, ill bet you you saw more football than andrew . Probably true. It is probably true. I spent the weekend at a Pumpkin Patch. Oh, yeah . Thats nice. Thats nice. I did. We went on ponies and did all sorts of things like that. Not sports but, you know, were working on it. Where is that . 31st and lex . Where is the Pumpkin Patch had to leave the island. What . We had to leave the island. What . Yeah. We rented a car. A zip car . We left the island. A zip car . It was a real car. A real car. It was an suv. To largo. I drove. No way. I drove and we went out and we spent the day out there. In what state . In los angeles. We got corn and we got pumpkins and we did ponies and we ran on camels and llamas. Did your kids love it . They did. But we have business to attend to. Youre now set for five years or so seeing all the greenery. Sorry, ross. Ross is like, do do do, i come here, wait, finally get introed. Anyway, sorry. No, thats okay. Im pleased andrew got out of the city for the weekend. Thats good news. Despite where futures are trading right now, which you were just pointing out, joe, european he can witt its havent done very well. Were pretty evenly paced around decliners. Little more relaxed. Global investors, no one thinks the u. S. Is going to default. There schbt huge pressure. You can see its up 600. Absolutely flat. Ftse has been flat this morning. It was up a little bit on friday. Up half a percent. The cac up. 10. Now were not too concerned. There are other issues were looking at. Basic resourgss are up. Thats despite chinese data is down to a 17 month low. Its contracting. Basic resources would normally fall on that number. The good news is that there are imports and theyre dogs fairly well. Technology down a little bit. Auto is very much in focus off 1 4 percent. Here in europe, down to the two stocks. Peugeot, the french car maker, they are talking about a 3 billion hike. A chinese partner will have to come in. They may take between 20 and 30 . Down a quarter percent and bmw talked about chinese sales up 20 for the last nine month period. Theyre talking about another Record Number of sales. Pretty contained session. Now back to you. Sorry about the interrepresentation of ponies over the weekend. No, youre riding llamas . I wasnt riding the llamas. Camels. Camels. I dont think you can ride can you ride a llama . You can ride a camel. You can try. Probably can try. I dont know if youll get bucked off. Camels definitely spit. There was a lot of spitting and bucking going on in washington. John harwood joins us to give us a little bit of an update over what happened or rather what didnt happen over the weekend, john. Well, what didnt happen was the deal got purt in place to resolve the debt ceiling and reopen the government. I think were getting closer. You have knnenknow negotiations Mitch Mcconnell and harry reid. The longer it goes on at current levels the more democrats feel like they cant alleviate parts of the sequester. Already the republicans want a short debt limit extension. Democrats want a longer one. I do think that mcconnell and reed are likely to work that out. If they do, then you could get a deal through the senate that the house would have little choice but to accept and i think thats a strategy that even house leaders are counting on, too. Something comes over from the senate. The speaker puts it on the floor and it ends up passing whether or not conservatives within the House Republican caucus object to it. John, whats the timing at this point . I think the were looking early today for some sort of agreement from reid and mcconnell. If that happens, the senate can put it on the floor relatively quickly. The target date since you know since youve scheduled your show to come down here is thursday. Theres still time for both things to happen, that is Senate Consideration of passage and house consideration and passage by thursday, but if they dont get an agreement today, thats in jeopardy. Theres some talk, john, that if the senate doesnt get a deal going today, boehner plans to put up a new proposal tomorrow. What would that look like . A shortterm debt limit extension, perhaps a Government Spending bill as well to reopen the government, but something very short term and i think look, the senate has no deal and boehner passes that, that has a good chance of becoming the outlook as well. I sense the commitment shared by leadership in both parties that will likely be controlling that we are avenue not going to breach the debt ceiling on thursday. If you wanted to handicap it, you would put the odds that we dont go over . I think the odds that we go over, that we breach the debt ceiling are pretty low. I think that, you know, one in five . No. Stop worrying. I like that. Except that one in five shot comes true and we do breech it, the consequences are pretty grave. So i think im packing my bags. I love you but im not packing my bags. What do you mean . Im not coming down on thursday. Ill be down that weekend. Youre not coming . Note thursda thursday. Hes betting well get a deal before wednesday . Oh, okay. Is that what you think, well get a deal before wednesday late on it will go down to the wire . I think it will go down to the wire. Wednesday midnight. Lets put it this way, i dont think it will be done before 6 00 p. M. On wednesday. Wow. Guys, in looking at what happened in bringing the sequestration levels back into it, the democrats are going to push the advantage at this point. Is this just talk a who he had of it or making a point that, by the way, we had agreed to go ahead with the sequestration talks. Yeah, i do think theres a human danger that at the end of this process the democrats pushed their leverage too far the hubris having beaten back the republican demand which they considered way out of bounds, they pressed too far. There is a common desire. Remember, the House Republican proposal to the president was also about alleviating sequestration cuts in long term entitlement changes. What theyre doing in trying to press their advantage is to make sure that the debt and deficit negotiations that follow this agreement dont foreclose them getting anything because if republicans rule out revenue and if you also rule out alleviation of the sequester, all there is are additional entitlement cuts. Assuming you get a deal, is there a Lasting Impact for either party or does it matter or is this just the messy game that is washington . Theres lasting damage to the democratic party. Theyre pushing it too far. Even if the deal gets done . Yes. But i think the intensity of the damage sort of fades over time. This is a preexisting condition, if you will, for the Republican Party that hurt them in 2012 that is getting burned in now. Also of kind of in the middle of people that are still you know, they havent decided whether they want what we talked about last week. You saw the one poll came out about who wanted a clean cr and it was like 60 said, no, id like to cut. The times big piece yesterday was maybe the republicans chances of taking the senate have been diminished. It wasnt about losing the house, it was still even with the idea that they could retake the senate in 2015. It was a front page piece that said maybe the chances of doing that are at the margin. Well see. I agree with you. It is at the margin. Memories fade. Peoples attention moves on quickly. Republicans need to deal with the perception that they are a party thats speaking to a small number of people and not the broad swath of the american public. That will get solved when they get a nominee and Chris Christie redefines the party. There are people that would make the case that governing by polls isnt the way to go anyway. If you have ideas about whats right and you dont damn the torpedos, its not about poll, then it stands for something instead of sticking your finger up every five minutes in the air to see which way the wind is blowing. I know what your saying. Its true but its about the realistic exercise of the power that you want that the voters have given you. Im with you. Theres a lot of important things happening in terms of the national league, the american league. Did you watch the end of that game last night . The roiblgs and no. No, it was too late. Oh, my god. 65 i saw, the red sox pulled it out. That was a game for the ages. Did you see the patriots as well yesterday . Yes. Great stuff. Yes. I also saw the redskins get whipped by the cowboys. That was not good. Yeah, i know. I know. Thats why im mad at these guys. Its like i need to focus on some of this other stuff. You know bengals in overtime. That was something, too. Theyve beaten the packers and the patriots which i would never have predicted. Anyway, were getting yelled at. John howard in washington. Thank you, sir. Lady in red. He can say thank you back if you want. We need to thank him. We do need to thank him. Every monday morning felling us wh telling us every weekend what did happen. We have Erskine Bowles joining us. Hes going to bring his rise above. Bob corker will tell us whats going on. Then we have mark bertoloni. Who . Bertolini. As long as you get mark right. Dont worry about it. How twitter is getting a great deem from the banks. Being really cheap, arent they . Theyre allowed. You know what, you have power. You have power. Anyway, its the lowest in the year for the fees. First off, heres what we were talking about, some of the stuff. Sports news in the sunday night game. The cowboys beat the redskins 3116. What an ending in the patrio patriots saints game. He heaved it 17 yard touchdown pass to kenbrell tompkins. Five seconds left from the 17 yard line for new england to beat the previous unbeaten saints. Big night for boston sports as well. David ortiz hit a game tying grand slam in the eighth inning and then watch this. A walkoff single in the bottom of the ninth which gave the redskins the red sox a 65 bins win over the tigers. Now its 11. The dodgers have to get it going. The tigers will host game three. Now the forecast. Hey, guys. The storm system moving here in the plains. This is a big weather maker. This is going to open the door to a lot of very cold air across the country over the next few days into next weekend be. For today looking at severe storms in places like nebraska in through kansas. Rain out ahead of that in places like minneapolis. The rain tomorrow tracks into the biggest cities like chicago, indianapolis. We could see maybe severe storms here tomorrow. Pretty wet and unsettled. By wednesday the storm system reaches the east coast. More gloomy skies there in new york city, boston, d. C. Going to be getting more rain as well. As i mentioned though, more cold weather ahead. In fact, 10 to 20 degrees below average. Those temperatures spilling out across the u. S. By the end of the week. More squawk box when we come back. Welcome back. Its time now for the executive edge. Focus on giving Business Leaders a leg up. Twitter is said to be getting favorable terms from the banks to go public. Theyre going to collect fees of 3. 25 of the money raised. That would be the lowest amount paid on a u. S. Ipo. Twitter is finalizing a 1 billion credit line. It can use it to help their finances grow. Theyre squeezing firms on both ends, the banks on both ends. You know, its funny. Traditionally there is an argument made that its an au antitruant antitrust issue. Pandora paid 7 . However, what we didnt note there dsh. They paid 1 . Absolute dollars, more than twitter. Facebook squeezed the banks and got a huge loan. Thats right. The idea theres collusion at 7 . Theres been a long debate as to why is there no competition going on in this market. Its because this is like a this is a reputation enhancer. Thats why people are willing to give very little. Facebook, they say you get what you pay for, 1 . Well, because the question is do the banks make it up . I dont know this. Is it made up on the debt side . Is that why grub ber has the best auction . That was one of the reasons the fees have been there. You take money out of an atm at 7 . No way. No way. I did 3 . You did 3 . Thats yesterday. Thats crazy. Were you in vegas . No, i had to take out 400 to get it at 1 . Thats what i did. I feel better. They should have bought me dinner. Vegas, 7 . Ill make it back. Theyre a dibted. Theyll pay anything. 3. 25 still sounds like a lot to me. It does in the stock business. It does. Everything else has been squeezed much lower than that. People used to pay a Mutual Fund Front end load 8 . Those were the days when the brokers had big clients. Another story. The Home Builders are trying to lure buyers. Sales in some markets have been hurt by rising prices and by higher Mortgage Rates. The upgrades that you can get at this point, free appliances, blin