in october of 2008. dow lost 777 points in september of 2008. we re not there yet. richard quest, what is your read on this? what you have let s put aside the actually market movement this morning and last week and actually look at the fundamentals and what you re dealing with. you re dealing with the u.s. economy that s growing moderately by the fed s definition and neseems to be ok for the time being. you re dealing with the eurozone with qe being pushed in the market. there s a huge amount of stimulus going in from the ecb. you have emerging markets where currencies are under pressure because of commodity prices, and you ve got many countries like nigheria nigeria, venezuela, russia, that are going to have certain difficulties as a result of the fall of oil. that s the macro global scenario within which you are taking this market fall, and for some reason best known to itself, it chose a
arguments take off in this country. we ve seen it before. so i think if this market fall continues, that s a good thing politically for donald trump. you mentioned immigration which jogged my mind as a reminder to viewers, jeb bush will be on the border and will take some of that live next hour. stay tuned for that. john avalon to you, i want you to get to the news about joe biden. he s probably had his weekly lunch with the president. wouldn t we all love to be a fly on that wall? we know that he met with senator elizabeth warren over the weekend at his home. so that happened and then job earnest spoke about it. let s go to that. the president has indicated
and we are waiting to see what the asian markets are going to do tonight. if they will have a market fall, that would give it impetus. neil: i wonder, let s say you respond to an aggressive markets sell-off as was in the case of 2008, market falls nearly 800 points, they approve the bill but then it s down 4,000 points from that point. be careful what you appease and who you appease? nobody has come out and said that is what we want to do. talking to a few people around the building the past several weeks, something like that, may be not catastrophic like the day in september of 2008 and would give some immediacy to this problem. i spoke with house minority leader, nancy pelosi, the clock
if they will have a market fall, that would give it impetus. neil: i wonder, let s say you respond to an aggressive markets sell-off as was in the case of 2008, market falls nearly 800 points, they approve the bill but then it s down 4,000 points from that point. be careful what you appease and who you appease? nobody has come out and said that is what we want to do. talking to a few people around the building the past several weeks, something like that, may be not catastrophic like the day in september of 2008 and would give some immediacy to this problem. i ske minority leader, nancy pelosi, the clock is ticking even more. they are an intense meeting,
security, leaving no money for defense or any other government program. in the short run, and people distinguish between the two, you don t want to understimulate this economy when it s not on a court to bring up the inflation rate or bring down the unemployment rate to a point where those 8 million people who have lost their jobs can get them back. do the markets seem to think the bad jobless numbers on friday was good for a deal on tax extensions? not only that, it keeps the fed holding interest rates down for an extended period of time, even until june when the current program runs out. it appears there s a scramble to cut a deal on taxes to extend the cuts for those making $250,000 or less. extend jobless benefits as well. and that s why you didn t see the market fall so hard, in fact, closed higher on friday. today, we re just kind of me