now, that s still talk and not action. is this what we have come to, so desperate, hanging on to the economic precipice that a little sweet talk sends stocks to the moon? outfront tonight, doug eagan and robert reish, author of the new e-book, beyond outrage. robert, let me start with you. look, we want to be happy and hope this is for real, but this really was a whole lot of talk. i was kind of amazed. you could look through it, there was very little specifics. it was all hope that maybe, if needed, talk will become action. well, erin, i think the explanation is that the market had fallen so far and so deep, particularly after friday s very dismal jobs report, that the market and traders were looking for any silver lining. any good news. bond prices are very, very high. the yields are very low. a lot of global savings are just looking for where to put their money. and stocks are looking relatively good. so everybody was sort of waiting for the first little bit of good ne
outfront tonight we have breaking news. a surge of the day. stocks just jumped to the moon. dow and s&p had their single best day for the entire year. the dow jumps 287 points. so you can say why, the sheer excitement. have we suddenly solved all of our economic problems? have we stumbled upon a machine gun of silver bullets? have we found our terminator? not so fast, arnold. today we got shot up with rubber bullets. it was an arsenal of talk but no concrete action. in europe, the central bank chief said officials stand ready to act and there were reports of talks of a possible deal to bail out banks in countries in crisis like spain. that s a lot of talk. being ready to stand by is different than standing by. here at home, the fed said it may be ready to take further action to help spur the economy, extending unprecedented efforts to ease credit. now, that s still talk and not action. is this what we have come to, so desperate, hanging on to the economic precipice that a lit