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people can feel like they can have control over now, if you can get through to the bankers. >> we're trying and it's not cheap to refinance. >> that's right. >> you have to think about whether you want to do that. >> if rates go low enough, it's good to check it out. >> it's friday. >> yes. >> yeah. although the week started off well, the realization that a second recession may be drawing closer is hammering stocks this morning. actually futures. here in the united states, the dow dropped 420 points or nearly 4% yesterday, stripping away this week's gains and then some. adding to the...

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 treasonous for the fed to get involved. while his comments may have been misinformed it represents a view in america that fed should do no more work in stimulating this economy. so now we have investors saying we need more investment. you got the morgan stanley saying we do. and you've got a lot of people in america saying don't do it. so we're at an impasse. investors said let's get our money out of there. they put it into bonds a...

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...

do not feel like the unemployment situation is working well enough for them and their families and this coming together as we have a big deadline coming up for the super community to figure out how to get our debts and deficits in order. the rest of the world looking at us and worried how serious the u.s. is about political harmony. a lot of different fronts all moving at once. you add in europe and the sense of confidence, this lack of confidence around the world and that is what we are dealing with still this morning on a friday morning. kyra? >>. >> we are sitting back wondering w...

jessica, what do you know about the president's plans for next month? >> after labor day he'll reveal a jobs proposal that will have specifics in the way his critics have been calling for. according to my sources it will be actual legislation. that's real detail. i'm told the package will be new initiatives and not a rehash of the policies we've been hearing him promoting recently like patent reform or infrastructure bank. my sources say there will be proposals in three main categories. targeted tax cuts. another big one for the white house is new infrastructure investment and then l...