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Very important to the world economy, kelly. >> let me ask you something about that. we talked about europe all year long. can america's capital increase if european -- if the european economy continues to contract? >> well, it is a good question. europe's biggest trading partners are the united states, china and japan. if europe fails or starts to falter, you will see earnings in all of those countries start to fall. i believe that as europe goes the rest of the world goes right now. 21% of our exports go to europe. excuse me, 18% of our exports go to europe and 21% of the world's gross domest...

Did the most retail politicking, worked hardest, has a reputation, has a history, and has some degree of electability. and because the polls are suggesting that santorum is surging a lot of iowa wans are thinking that he must therefore be electable and the polls surge even more. >> a good point because he actually spent a year out there campaigning and working hard with the retail politics and larry, it looks like some of that hard work is paying off because of his show in the polls. what will it mean for santorum beyond iowa and for that matter, larry, does iowa really matter? >> that is a gr...

After a year of wild ups and downs on the stock market c, 2011 end ended with more of a whimper than a bang. they had a 5.5% gain, but the s&p closed slightly down. the smallest move since 1970. the biggest question here is what is in store for 2012? here to discuss america's financial future, the managing partner of chat wood capital management. ed, good to see you, my friend. >> good to see you. happy new year. >> thank you very much. same to you. what do we look forward to in 2012 in terms of the stock market and just the american economy? >> by the way, kelly, i think the best measure is t...