believe me, that is saying something. this has been the worst fire season in texas history, and this is the worst of more than 35 fires burning right now. it s southeast of austin in bass strup county. and 1,000 other homes are threaten threatened. firefighters are attacking on the ground and in the air. and chris welch is in the thick of it. are they making any headway at all? caller: not exactly. this is a very bad day for fighting a fire to put it lightly. officials here caution, you know, they asked everybody to evacuate yesterday in the hardest hit areas. this fire continues to move south, moving through neighborhoods. now, thankfully this is one thing i think we can be thankful for, moving into areas that are less populated. and they expect the number to grow today. i want to give aquick look at the plumes we have been looking at today. we have seen the smoke rise and fall as it goes through the thicker woods, as it goes through grass. you see less smoke and more as i
european banks right now, too, and whether they re doing all right. in fact, the european markets had a rough day today as well. they were way, way down. how much of that is influencing what we re seeing? now the dow jones is down almost 400 points. right. actually, things are coming back just a little bit because europe closed. but that s a lot of it, because people were saying that banks in europe might stop lending to each other, which was a lot of what happened in 2008 and 2009 that made things so bad. so there s a little bit of worry that we re going to go back to that crisis. in fact, when you re seeing france and germany with stagnant economies, there is some concern they re not they may not be in position to bail out countries like greece which has ongoing debt concerns. kristen, let me turn to you. here you are watching not only the american economy on thin ice, but the global economy as well. it s problematic for the president when the stock market s tanking
joanna ossinger is stocks editor for bloomberg. what is fueling the selloff at this point? we had a slew of bad news overnight and this morning. morgan stanley said that the global economy is dangerously close to recession. we had jobless claims in the u.s. that weren t so great and consumer prices are also rising, so that s squeezing u.s. consumers. there s a lot of concern about european banks right now, too, and whether they re doing all right. in fact, the european markets had a rough day today as well. they were way, way down. how much of that is influencing what we re seeing? now the dow jones is down almost 400 points. right. actually, things are coming back just a little bit because europe closed. but that s a lot of it, because people were saying that banks in europe might stop lending to each other, which was a lot of what happened in 2008 and 2009 that made things so bad. so there s a little bit of worry that we re going to go back to that crisis. in fact,
going to be essential. but it has problems, too. some liberal members worry about its impact on social security and medicare, and the closed door meetings that led to the plan. we are an anti-gang group. we are trying to suppress the growth of gangs. we think that it is not healthy for washington. the negotiations could go down to the wire, with the nation s spending power hanging in the balance. it isn t perfect but when the alternative is we re going to drive this country over the cliff, i think we got to start with something that actually gets the job done. the one thing we ve been committed to is getting a solution. mike, where do we stand? reporter: we re 14 days out. i just got an e-mail from a top hill aide and i asked this individual where do we stand. here s the response. it s a mystery. we re all treading water, looking around trying to figure out which way to swim. there have been a number of meetings over the course of the last few days. you know the
talks. gop leaders called those meetings productive. then there s the renewed gang of six plan, which offers a blueprint for a deal. devil is in the details. it doesn t have the stamp now of the committees on the house and senate side and that is going to be essential. but it has problems, too. some liberal members worry about its impact on social security and medicare, and the closed door meetings that led to the plan. we are an anti-gang group. we are trying to suppress the growth of gangs. we think that it is not healthy for washington. the negotiations could go down to the wire, with the nation s spending power hanging in the balance. it isn t perfect but when the alternative is we re going to drive this country over the cliff, i think we got to start with something that actually gets the job done. the one thing we ve been committed to is getting a solution. mike, where do we stand? reporter: we re 14 days out. i just got an e-mail from a top hill aide a