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significantly weaker, and then overnight, some manufacturing reports came out of the uk, came out of europe, even china. these were weaker manufacturing reports. that spooked the market as well. you have to remember, we're all interconnected so if europe's got its problems, the big worry is that they can spread here to the u.s. and we all know that europe is facing its own debt crisis. all this is leaving at least one economist to tell us that he thinks that europe is probably in a recession and that the u.s. is teetering on the brink of one. candy? >> alison, for months and months a...

forum all week. i had a chance to sit down with the former president bill clinton for an extensive interview. part of it will air this hour. part in the next hour. i want you to stand by. only a few blocks away at the united nations, president obama's on a major diplomatic mission of his on and a number of critical issues are on the table. let's bring in jessica yellin. she's with me here at the clinton global initiative. a huge day today. maybe even a more important day for the president tomorrow. >> that's right. but first today, it was a major day of diplomacy for the president. t...

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...

one area includes the capital, mogadishu where an estimated 100,000 people have come looking for aid. the u.n. says nearly half the country is suffering from malnutrition. egypt's ailing former president will next appear in court august 15th as his trial opened. hosni mubarak denied charges of corruption and playing role in the death of more than 800 anti-government demonstrators. the trial of his rmer interior minister is scheduled to get under way at this hour. in eastern australia, a teenage girl is safe but police don't know who strapped a fake bomb around her neck. police sa...

spending cuts in ten years. reid would hike the debt by $2.7 trillion now and mandate an equal amount of cuts. but the congressional budget office says the boehner plan would trim spending by $850 billion, and the reid plan by $2.2 trillion. boehner went back to the board and postponed the vote that was supposed to happen today. reid's plan can't pass the house, and not only is boehner's plan doomed in the senate, a great many house republicans don't like it either. so what happens now? well, time marches on. a never-before-seen default on u.s. debt and obligations could be just six ...