stands to pay $1,000 more in taxes in 2012. there seems to be bipartisan support for extending it but as usual, no agreement on how to pay for it. candy crowley is cnn s chief political correspondent and anchor of state of the union. political theater aside, you think congress will eventually get this done? i absolutely think congress will eventually get this done. particularly because we have seen republicans now saying we even the senate republican leader mitch mcconnell said even if you don t believe that this actually helps the economy, it certainly will help the people that get the break from their payroll taxes. this is just not you don t want to go home at christmas and having raised everybody s taxes. especially when it is your point of view that you are never going to raise taxes on anyone for any reason. that s a little hard to square that. also with us this morning, former new york times columnist, distinguished senior fellow. stephen moore, editorial wri
manufacturing report. and of course europe. what s playing into the market drop? fear, pure fear. that s all this is. when we talked about a week ago we were in same place, people are waking up and this is what they call headline risk. they re waking up, reading the papers and reading the latest investment report or whatever it is. even the smallest, tiniest bit of data is shaking ourselves into a panic. of course all of this really stems less oddly enough from what s happening here in the united states and the s&p downgrade and everything that happened about a week and a half ago and more about what s really happening in europe and whether the euro zone, the eu and the euro can hold together. ultimately whether spain and italy will be able to keep it together. whether, if they can t keep it together, the banks that are holding all their debt and the banks like stockgen in france and germany, whether those guys will be end up holding the bag. and if they re holding the bag, whether t
game. i think people are focused today walmart out with earnings. home depot out with earnings both bet tlaern expected. so that could give a little bit of energy to things, but, really, i think that the story is europe. i think the continued sort of what they call headline risk, wake you up in the morning seeing what s happening there, that s what the overhang is, and until europe solves its problem, if and when, sochls its problem, i think we re going to be sort of going sideways for a while. groundhog day type of thing. andrew ross sorkin over at cnbc. thank you very much. thanks, chuck. rick perry comes out of the gate swinging in iowa. the tough talk in texas taking on everyone. from the president to ben bernanke to mitt romney. who will he put in the cross hairs next? live in the 2012 campaign trail. plus did michele bachmann s mother just rat her out about where she really was on sunday? and we re three weeks away from the nbc news politico republican debate at the
but the headline risk is real and it has to be dealt with. thanks so much for the conversation. barry, fusion iq, ralph silva, strategist at silva. a pleasure, guys. on the dylan ratigan show, the race to stop a full-scale nuclear meltdown in japan and the first priority providing safety and evacuation as things get desperate for the people in that region at this hour. what can officials do, and how will the radiation affect the exposed human beings nearby? [ male announcer ] this is lara. her morning begins with arthritis pain. that s a coffee and two pills. the afternoon tour begins with more pain and more pills. the evening guests arrive. back to sore knees. back to more pills. the day is done but hang on. her doctor recommended aleve. just 2 pills can keep arthritis pain away all day with fewer pills than tylenol.
they violently and quickly repriced everything lower in japan. i agree with you. that s exactly what happened. everything happened extremely dw dw quickly. we re in new markets people are reacting extremely quickly. we may see another day or two of flat, slightly lower on the japanese market. bitten of the week we ll see it settle out because all of the money is changing hand. short-term money leading the market long and medium-term money will replace that. we ll see markets come back within the next two or three weeks but we ve seen most of the damage already done. barry, on japan? we have headline risk. if tomorrow we wake up and find out the nuclear situation isn t that bad and we ll get things back in order in a couple of weeks, markets can rally. if the news continues to get worse, if we hear about reactor five and six, all bets are off. 25% in three days is a big hit. you normally doesn t see more than that.