is glass-steigel modernized which is to say don t trade for your own account. so you re not competing with your commerce and your customers are your top commerce. don t clean up. don t be stalking customers that they don t want. it s because of this. are the forces that are working against progress, are they not resistible? is there a change possible in terms of legislation, something that somebody would send you, or are we talking about needing a cultural kind of change, which is more difficult to conceive of? i think it s very difficult to take on financial interests. i work so hard on the credit card bill. i use that as an example because it s easier to use an example. i can t even walk down the street without hearing about
washington is debt and deficits and that s about the budget. specifically the countdown to august 2nd, the day the treasury secretary tim geiger says he can t keep america from defaulting on its loans if we don t raise the debt ceiling. a number of republicans are challenging the notion that not raising the debt ceiling would be catastrophic. take the politics side. there is a technical default on the debt around the debt ceiling back in 1979, and that was just a mistake where they used to send out the checks and the checks got there a day or two late. just from that without all the politics around it and the game of chicken going on, we saw 60 basis point spike in treasury bond from that alone. so that gives us some warning that this is not something to play around with. let me stop you there, diane. for our viewers who don t trade-in treasury bonds, a 60 basis points increase, affect your credit cards.
as well. it s not either or. we re not saying don t trade. we want to trade but we want trade to create jobs on both sides of the border and not just increase profits for multinational corporations. let me ask you this, going back to wisconsin and public service unions, this is a particular issue with teachers. one of the things that a lot of americans think sun fair, particularly after this recession we ve gone through is this idea of your job being protected because of seniority or tenure. why can t we move to more of a merit tocracy to say the best keep their jobs, the worst get fired? well, first of all you should be rewarding longevity because there s experience. you can t divorce from that. no one can say seniority is the problem. there are three or four things in education that affect the outcome. one is the quality of the teacher. so we ought to be working to improve the quality of our teachers by giving them the best training and retraining. sec of all is parental involvem
market, probably won t get back in yet. we probably have shaken some confidence. most couldn t get out. mutual funds don t even trade until the end of the day so most folks probably faced that. i was on the second floor of the building when the market was down 200 points, by the time i got in the elevator, to my office on the 17th floor, the market had dropped the full 1000. if i were trying to execute a trade in that amount of time, it wouldn t have been possible. you ll find a whole lot of other people and if you re in mutual funds, you can t trade right away, you got to wait until the end of the day. it takes time. the best course of action is really to think about it, take your time, plan ahead, invest slowly over time, and you know, don t trade just with your gut. jon: eric bolling is telling me by the end of the day, this market is going to rebound. jerry and i have a lunch bet. i say we re higher on the day. maybe not! maybe not. jon: eric bolling, jerry willis, fox
is literally as you and i are both pointing out, she will kill herself, eat herself to death. people are sort of not only are they sitting by, people are profiting, including her, from this. should you do an intervention? should someone do and intervention? what should happen? hopefully she has family members around her and people that care about her that would say don t trade your life for 15 minutes of fame, particularly when the fame is a sideshow sort of thing. one of the things i always hear back from viewers when we talk about this is the whole idea of what we think of as overweight or obese, for example, people say, you look too skinny, and my bmi is square lin the middle. you re 6 4, 240 pounds, your bmi is 24 and you re overweight, almost obese but your obviously not. these are the numbers people base a lot of things on.