freelander and assistant managing editor at time. stephen, let s start with you. we know europe s debt crisis has a very direct impact on the u.s. economy. with europe s future still uncertain, how much influence do americans, does congress and president obama have on what s really happening around the world right now. not so much. look, a lot of people probably wondering how can a small country like greece and a bigger country like italy throw the entire globally economy into this turmoil. i think the answer to that is it s the first domino to fall. there s a real threat, you kind of get a contagion effect, if italy falls we re now seeing their interest rates rise on their bonds. this will affect other countries like portugal and spain and maybe france and germany. that s where the interconnection comes in. the united states, the banking system here is very interconnected with what s happening in europe. let s explore the contagion for a minute with chrystia. if i get
outfront tonight, whoa, whoa, whoa. it really was one of those days. the markets soared, the dow up 339 points. nasdaq and s&p up more than 3%. and there were two big reasons why. one, america defied skeptics with american consumers spending money. the u.s. economy grew 2.5% in the third quarter. twice as fast as the prior quarter. look at it compared to earlier this year. now, 2.5% isn t great overall, but it is a lot better than a lot of doomsayers expected. the other big news was europe. they made a deal to bail out greece. that deal also, not that great. but after 14 summits, any deal was enough to juice the markets and that it did. october now on track to be the best october for the overall markets since january of 1974. to put that in perspective, that was the year blazing saddles came out. we must do something about this immediately! immediately! immediately! thatrumf. i didn t get a harrumf out of that guy. apparently a movie a lot of guys like. 1984 also
outfront tonight, whoa, whoa, whoa. it really was one of those days. the markets soared, the dow up 339 points. nasdaq and s&p up more than 3%. and there were two big reasons why. one, america defied skeptics with american consumers spending money. the u.s. economy grew 2.5% in the third quarter. twice as fast as the prior quarter. look at it compared to earlier this year. now, 2.5% isn t great overall, but it is a lot better than a lot of doomsayers expected. the other big news was europe. they made a deal to bail out greece. that deal also, not that great. but after 14 summits, any deal was enough to juice the markets and that it did. october now on track to be the best october for the overall markets since january of 1974. to put that in perspective, that was the year blazing saddles came out. we must do something about this immediately! immediately! immediately! thatrumf. i didn t get a harrumf out of that guy. apparently a movie a lot of guys like. 1984 also
the latest on what happened to an iraq war veteran. they will be atรง a protest and his family is speaking out on his condition. with just weeks to go until the super committee s deadline to reach a deal on cutting america s debt, speaker boehner said it will be difficult to achieve success. is there any surprise there? we will take a look at where they stand. news nation is minutes away. how creative or confident or kind was shaped before you lost your first tooth? the first five years are forever. that s why pnc is devoting $250 million and ten more years to helping families discover learning opportunities all around them. pnc. grow up great.
outfront tonight, whoa, whoa, whoa. the markets soared, the dow up 339 points. nasdaq and s&p up more than 3%. and there were two big reasons why. one, america defied skeptics with american consumers spending money. the u.s. economy grew 2.5% in the third quarter. twice as fast as the prior quarter. look at it compared to earlier this year. 2.5% isn t great overall. but it is a lot better than a lot of doomsayers expected. the other big news was europe. they made a deal to bail out greece. that deal also, not that great. but after 14 summits, any deal was enough to juice the markets and that it did. october now on track to be the best october for the overall markets since january of 1974. to put that in perspective, that was the year blazing saddles came out. we must do something about this immediately! immediately! immediately! i didn t get a harrumf out of that guy. apparently a movie a lot of guys like. it was before cnn or i were born. stocks are up. gdp europea