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No one was hurt. are they having a little princess? when handed a teddy bear, she'll say thank you, i'll that i can that for my d -- the duchess is due this summer. cnbc's mandy drierie, watching the dow so far this morning, and still going up up up, and what is driving this, what's fueling it? >> a lot of it is momentum. there are a lot of positive factors driving it higher, not least of course the federal reserve pump priming, the economy has been improving and stocks are still considered to be cheap other cheaper, compared to other asset classes, but in terms of some of the performers...

>> it is a grave concern and while the economy is on a path of moderate recovery, it is not growing fast enough to make significant progress to reduce the unemployment rate. >> and mandy drury is joining us with what is moving your money, and explain what the fed is doing, and how is this going to get the economy going? >> well, here is the thing, chris. it is not a silver bullet and the third round of pump priming of the economy is part of the solution in bernanke's own words. he just wants to nudged the economy in the right direction and keeping in mind that the economy has been improving, b...

Today, we buy 9.2 ships a year and we have 25,000 people in the bureau of ships. before the stimulus package we had one person in the department of transportation making $170,000 or more. right after the stimulus package was passed we have 1,149 people in the department of transportation getting paid more than $170,000. this is why the stimulus didn't work. it didn't, the whole idea of a stimulus, it is pump priming. stimulate. get it going. it didn't do anything like that because none of it worked its way into the public sector. the gang downtown, you want to see trickle down economics work.

Behind stimulus spending when i was a student and still today is it's pump priming. to get a body that's not in motion into motion. but it doesn't fix the fundamental structural problems this administration and thed past administration failed to address. for example, the credit crisis left the 8,000 regional banks that support small and medium size businessed like former congressman delay's business in terrible shape. reform does nothing to help. goldman sachs, jpmorgan and others didn't want it used for the savings and loan crisis so it wasn't. they could fix the banks. second, the president ...

Now and november, when we have the mid terms, significant improvement. partly because they're doing some sneaky things. the census employment is really having -- you think census, like that seems like too small. >> 800,000 people. >> right that is really moving the numbers. this is brilliantly timed. medium-term, though, looking out to 2011, i think the prospects are a lot iffier. >> i think, ross, let me ask you this. the obama administration seemed to have recapitalized the bank where credit is now flowing. it stabilized the auto industry n a way he didn't have massive hemorrhages of job los...