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talking about. this was actual fact. we started this morning with slow bad markets out of europe. then before the markets opened we got this report from morgan stanley which talked about slow growth around the world, telling us things we already knew. but they said we're on the pr s precipice of a recession. they also cited errors in policy making here in the united states and in europe, and they said it's likely that european central bank and the fed would have to get further involved in this economy. now, you know all week we've been talking about rick perry saying it would be trea...

"aftershock," which is now out in paperback. ali, what happened today? >> a lot of things happened here. we had a situation where it's not just fear we've been talking about. this was actual fact. we had -- we started this morning with -- with slow bad markets out of europe, then before the markets opened, we got this report from morgan stanley which talked about slow growth around the world telling us things we already knew. but they said we're on the precipice. they didn't say we were there, they didn't say it's the base case, but they said we're dangerously close. also cited error...

The current political environment frightening and says and i quote: of course, a lot of this is politics, but this is an important investor with a lot of cash. >> he is echoing the same thing that ben bernanke is saying about government spending. you have to ask why mr. zell would say this when he is saying it is difficult to invest in the united states, he is investing in the united states buying up distressed properties like george soros who has a concern about government debt worldwide. he called gold asset bubble and bought million dollars worth of gold sometimes you have to question the m...

>> well, i think, at the moment, these numbers are a fairly good sign. i think the real political worry is not so much focused on this jobs report, which is backward looking, it's about what already happened, as about what we're seeing happening going forward. and this has been a really worrying week, because we've seen some real danger signals from europe. this whole recession, the final crisis, were a reminder to us of how closely tied the u.s. now is to the world economy. and we're seeing real shakiness in europe. a lot of people are starting to talk really seriously about there being an as...

U.s. cord economy. shakiness in europe, we're seeing. a lot of people talking seriously about their being an asset bubble already, and you're seeing, i interviewed one the leading equity guys on wall street this week. he said, i am selling everything i can. i think we are going into another bear market. if you haven't felt the recovery happen yet, that's terrifying, if the money men are saying, actually, we're heading for your downturn. i think that's becoming a possibility. >> we knew jobs would be a laggilag indicator, recover after the economy. markets a leading indicator. if markets fizzle...