we have beyonce summer homes and the newest mexico. we have the most shirtless arres arrests, most talented, prediabetic teenagers. oh, boy. okay. what a beautiful shot this morning. good wednesday morning. it s august 10th. welcome to morning joe. with us on set, we have mike barnicle and we have the host of the video show, the bill press show. hello. and in washington, political writer, sam stine joins us. today, better news. first of all, the stocks rally. yeah. stocks rally. marke markets slide becomes surge. the one that speaks for itself, the new york post, crazy stox by gay hookers. up, down, up. i don t know what they were drinking last night at the post. put that down. i think it s a very fascinating choice, willie geist. put that down. willie. it makes it relatable for a lot of us that don t understand economics the way the experts do. all right. last night in wisconsin, it will results came in. bill press, there was this was a big refere
the last 14 trading sessions, the dow has lost 2,000 points, and by my calculation, that s about $2.8 trillion of wealth that has been destroyed. about 20% or one fifth of the annual output of the u.s. economy. so as the market continues to fall in this way, that s going to have real implications of on ordinary people, their 401(k)s, and how wealthy they feel and their ability to spend from here. so it is frankly quite serious. yes, it is. when is this going to start stabilizing a little bit? how much longer do we have to go through this? i have absolutely no idea, and nobody else in the market does either. today we thought we might get a bit of a rally, but it obviously didn t materialize. yesterday we had a huge swing, right down at the bottom, and within about an hour and a quarter, we rocketed 600 points. that s how volatile things are at the moment. but the environment is very, very jittery, because basically, the fed said yesterday, we re going to give you ultra l
so much to talk about. saturday morning, when we talked about this later at my daughter s birthday party. both of us looked at the horrifying news of saturday morning coming out of afghanistan. coupled with the sp downgrade. as a young girl, back in 1979 when so many things were hitting at one time. it was, i really can t think of another time in my lifetime where i woke up and saw a couple things hitting like that and i don t want to say questioned america s place in the world but certainly thought we lost our way. a bleak feeling. we are going to talk about the unspeakable loss in afghanistan coming up and why, when and when it will become a central part of the political conversation when we talk about campaigns. when it will be front and center of the issue. i don t know when but i m hoping soon. you, let s talk for a second about 1979. if you said, when you read the papers that morning that you had this it almost took you back to that dark time. it was a horrible
joining us. willie is on his way in. so much to talk about. saturday morning, when we talked about this later at my daughter s birthday party. both of us looked at the horrifying news of saturday morning coming out of afghanistan. coupled with the sp downgrade. as a young girl, back in 1979 when so many things were hitting at one time. it was, i really can t think of another time in my lifetime where i woke up and saw a couple things hitting like that and i don t want to say questioned america s place in the world but certainly thought we lost our way. a bleak feeling. we are going to talk about the unspeakable loss in afghanistan coming up and why, when and when it will become a central part of the political conversation when we talk about campaigns. when it will be front and center of the issue. i don t know when but i m hoping soon. you, let s talk for a second about 1979. if you said, when you read the papers that morning that you had this it almost took you back
network reverend al sharpton. watched you yesterday. thank you. i like it. thank you. we also have columnist ezra klein who is filling in for martin bashir at 3:00. really? could they spread you all any thinner? starting at 6:00 a.m. we have richard here to talk about the global impact, the financial, can i call it a meltdown? you can, yeah. in washington, former chairman of the national republican committee, michael steele. it s good to have you on board as well. there s a lot of politics to talk about. willie is here, how are you feeling? good. joe is on the way. let s start with a massive sell-off on wall street. the headlines sending the dow plunging as they raise new concerns of the strength and stability of the u.s. economy. we await the july jobs report due out in an hour and a half. the markets are tumbling this morning. the dow tumbling 500 points. a 4.3% loss in what one analyst calls an absolute blood bath. it s the worst since december, 2008. it