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How would you grade the economy? if you don't have a job you might give it an f. if you're in the stock market you might get it an a. what do the financial experts think? we'll find out. cnn's christine romans this week, smart is the new rich. >> summer is here and stocks are in turmoil after a 13% gain this year. unemployment is still too high. investors are making a fortune in housing but nearly 10 million people owe more on their mortgage than their home is worth. there are a rash of statistics to measure this recovery. let's look at this way and give it a good old fashioned letter grade st...

California has the most welfare recipients in the nation and it also has now the highest poverty rate, almost one quarter of californians are living in poverty. i think what went wrong is that they are operating under this misconception that more taxes and bigger government and more programs will somehow help out and, in fact, just the opposite is the case. they're driving the productive people out of the state. they're losing their tax base. >> kelly: and they're losing their middle class. so once you lose your middle class, you can't have people move to a level of creating jobs. what will th...

Democratic. seeking reconciliation with the president, president obama's meeting with business leaders repairing a troubled relationship known more for conflict than partnership. when the private sector tycoons gather he'll feet as much as pressure to make it right. making aminutes with the president isn't good publicity, it might be a necessity for the bottom line. >> what obama can get and needs from the business community. it's easy to use him as a punching bag, they foolishly lined up behind the wrong guy. they can be a valuable ally in the fiscal cliff push because they're an important co...

Brand, heap it all on mitt romney, on unloved mitt romney, who they never liked anyway, throw all the bad assets and criticism on top of him and use him to push off against towards some other kind of dmur. i think that's another dynamic driving this. >> i agree with that. he's sort of like the lehman brothers of politics. but that's disingenuous a process because the republicans have a lot more deep thinking to do than just shoving it all onto mitt romney, obviously. >> how about the numbers. can't make a party a success if it salutes the top 1% and trashes the bottom half, the 47%. these numb...

President. that's fine. but the reality of it is the president still needs to address in a broad sense what the economy is going to do. >> one reason why rich guys don't like it is their kids come home and say daddy, the president says you're a bad guy. you're one of these tycoons. you're one of the rich. is that part of it? they don't like the insult of being the guys who are grabbing all the money? >> not at all. they called me fat cat. i went on a diet. so there. and it's nice being a wall street guy that somebody is being booed more than me. it's the movement we've made. >> it's not how ma...