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There is a recovery at all. some people say there isn't. and damage is being done now. do you think that this is going -- the unemployment rate is going to go back up? what are the unintended consequences of the panic. >> unintended consequences are also the unknown consequences. what we do know is that we will see the third largest economy in the world back off in terms of its consumption and its exports for a period of probably somewhere around six months. we will see the this economy not be buying as many goods and services from the united states. we are a net importer by a tremendous margi...

There is a recovery at all. some people say there isn't. and damage is being done now. do you think that this is going -- the unemployment rate is going to go back up? what are the unintended consequences of the panic. >> unintended consequences are also the unknown consequences. what we do know is that we will see the third largest economy in the world back off in terms of its consumption and its exports for a period of probably somewhere around six months. we will see the this economy not be buying as many goods and services from the united states. we are a net importer by a tremendous margi...

There is a recovery at all. some people say there isn't. and damage is being done now. do you think that this is going -- the unemployment rate is going to go back up? what are the unintended consequences of the panic. >> unintended consequences are also the unknown consequences. what we do know is that we will see the third largest economy in the world back off in terms of its consumption and its exports for a period of probably somewhere around six months. we will see the this economy not be buying as many goods and services from the united states. we are a net importer by a tremendous margi...

Gas prices, as you have witnesses are spiking in the u.s. because of the violence that's caused libya's oil production to fall by 50%. and now adding to that chaos, the european union says moammar gadhafi is no longer in control of the oil fields, that rebels are. expert john kingston joining me now. john, as we've seen gas prices rose last week to the highest level for this time of year inning several years. give us a sense why this is happening if so much libyan oil goes to europe and china. >> it doesn't matter. it's one big oil market. what impacts one area of the world, impacts other. for...

Change the political party in control of the white house. the increase came despite the president's road trip out west this week. which was intended to get him out of washington and town hall meetings to talk directly with voters about dealt and deficits, while also hitting the campaign trail and holding fundraisers for the 2012 re-election bid. it also comes despite a steady decline in unemployment and new highs in the tok market in the aftermath of the financial crisis. marks were supposed today for good friday. but the dow industrials closed yesterday at a new high for the year, thanks to s...