would win. but i can t. despite his confidence the theoretical third obama campaign might be more difficult than the president makes it sound. let me show you some numbers. in a new cnn orc poll only 41% say the american economy is in good shape. 59% describe it as poor. that s a great decline from april when 52% said it was good. new data compiled by the federal reserve bank of st. louis is says that median family wealth has fallen nearly 5% since 1989. so doug just sort of back to you, when you have you know the majority of americans saying that the economy is not in the best shape, not to mention, as we were discussing the iran deal the majority of americans don t favor it what do you think was behind the president s i could win again line or do you think it was in response to the fact that he was talking to african leaders about term
it? i don t think that we have had that much of a wealth effect. if you look at the whole funs data, household wealth is back where it was precrisis, but the gains are very heavily secured toward the upper en. the federal reserve bank of st. louis did a study to look to see how evenly the gains from the stock market haves been. the top 7% of households, healthiest howholds, have seen their holdings value go up. the other 93% have seen them go down. the truth is that middle income and upper middle income households just haven t been aboard the rally, so they missed and it consumer confidence has had the slowest recovery we have seen. it s still lower today than it was at the depths of the 2001 recession. so it s moving in the right direction, but we re looking at a pretty soft christmas. the one area that is doing very well, though, the upper end. art auctions in new york. record prices for all the
david, you talked about what are the dynamics that are going to raise the conditions for workers in walmart and retail more broadly. there s a catch here. williampool, he was then chief executive of federal reserve bank of st. louis. there were labor activity that happened in 2006, spearheaded by the ufcw. he said my walmart contact said walmart is in the process of raising starting wages in 700 stores. this is the first time in eight years of talking with them i have heard a comment like that. some of the raises are part of the political agenda that suggests this does have an effect. you are in arkansas, right? in a meeting with someone from walmart. tell me about that meeting. well, like, he spoke a lot. what he had to say, really,
new developments overnight in the case involving secretary of commerce john bryson. and his two car crashes. he went back to work yesterday but not today. find out why, coming up in this hour of cnn. welcome to early start, i m zoraida sambolin. i m ashleigh banfield. we re bringing you the news from a to z. it is 5:00 on the dot in the east. let s start with this, shall we? victim number one ready to take the stand today in jerry sandusky child abuse sex trial. today s witness was just 11 or 12 years old when he first met the penn state assistant football coach. it was his accusations that triggered this criminal investigation leading to jerry sandusky s arrest. susan candiotti is live in bellefonte, pennsylvania this morning, she s been covering this case. incredible stories coming out in court. i don t know if it can get any worse. his story is set to come out in court today. what is the story of victim number one following yesterday s story of victim number four?
show you the first chart. the first chart is from the federal reserve bank of st. louis so you know it s credible. it s from them. this is the adjusted monetary base. how many dollars are we printing? 1980. how many dollars are we printing. get as close as you can. this is a teeny bubble here. see it? it goes up and coming right back down. then you have the slow slope up. now, let me show you. that is the little blip. that is the panic, dot-com. print more money. interest rates from 6.5 down to 1%. there it is. steady increase and now let me show you what happens with tarp. here is tarp. this is the stimulus here. this is tarp and then the stimulus package. got it? significant spike. now let s see what s happened