has been turning up with robo signatures signed and put through without anyone really reviewing the case. banks are rechecking many of those documents, though, and admit they ve barely gotten through 1% of the cases. that s not good. that s crazy. meanwhile, speaking of not good, take a look at this. video for you this morning. apparent tornado has left a mess in central illinois. twisters spawned by that huge storm system we told you about yesterday. some say it is the largest storm the midwest has seen in 70 years. and look at the mess they got to pick up today. and trick or treat will come with snow shoes in the western half of colorado. 18 1/2 inches of new snow on the ground in high country. travelers are miserable but the ski resorts are obviously delighted. that looks like fun right there. wow, can you believe it s already ski season again? and brian, you ll talk a little basketball as well. yeah. so much you sound surprised.
they ll produce more of the hormone melatonin that helps you sleep. the cows also get the spa treatment relaxing under red lights when they re being milked. people who buy this stuff are being milked out of their money because a person would have to guzzle gallons of this milk to actually see the results. so they re milking sleeping cows? yes. wake me when you re done. meanwhile, an apparent tornado leaves a mess in central illinois. the twisters spawned by a storm system that forecasters out there have said the largest in the midwest in, perhaps, 70 years. and trick or treat will come with snow shoes in western colorado. 18 1/2 inches of new snow on the ground in high country. travelers are miserable. but the ski resorts are delighted that there is so much of the white stuff out there. take a look at that, very nice. from movie star to reality tv darling and now author, actress denise richards has had success at every level and now she s starring in a brand new show on
all kinds of music this morning. i m liking that. it s 18 1/2 minutes past the hour. christine romans is here. and the chinese have been very shrewd buying up all these natural resources around the world so they have their hands on the world s supply. that s right. and in china, there s about 90% of something called rare-earth minerals mined there. and they re an incredible component to manufacturing in this country. and there are reports the u.s. trade representative office is investigating reports that the chinese have halted exports of these minerals. they re in everything from wood turbines to the cockpit of a fighter jet to your blackberry to your ipod to hybrid cars. these are minerals that actually aren t to rare, but most of them are mined in china. and because of a dispute with japan, there s been halting of exports overall. but now reports in the new york times, particularly, everyone s looking into that the chinese
we ve added almost $3 trillion since president obama took office. it was around 10, now it s 13. we added 3 trillion in 18 1/2 months, stu. the alarm bells are announcing domestically and internationally. reporter: this is all about debt, that accounts largely for our slipping to number four on the world competitiveness. remember we are adding more than a hundred billion dollars every month to our outstanding national debt. as i said the rest of the world is watching. up until 2008 we were number one on the world competitive list out of 139 countries, number one. now we are number 4. and the reason we ve slipped is because of our deficits, the outstanding debt and because of what they call a loss of faith in our financial institutions. it actually is worse than that. because they have different lists of standings in different categories. if you look at the category for
on spending, the cbo puts the federal budget deficit for 2010 at more than $1.3 trillion. $71 billion below last year s deficit but the second largest in the past 65 years but the c.b.o. caution several impending changes would make the deficit worse. the bush tax cuts are set to expire but president obama and member of both parties want to extend some of them. no one believes that the bush tax cuts will in their entirety sunset at the end of this year. then there is the plan to stop cuts and fees to doctors who treat medicare patients and an annual effort to keep alternative minimum tax from hitting the middle class. the deficits are already unsustainable. but likely to get worse if lawmakers do everything they have been promising. bret? bret: a lot to figure out in coming weeks. yeah. bret: jim, thanks. stocks responded to the job number taking a dive. dow lost 144. the s&p 500 dropped 18 1/2. the nasdaq gave back almost