tear apart the euro currency. in washington, where the super committee was a super failure. and in our own bank accounts, where incomes are falling, and americans are dipping into their savings to pay the bills. yet everywhere, you re being cheerleaded to spend money, lots of money for the holidays. $704. the national retail federation projects that s how much you ll spend over the holidays, and consumers are more than halfway there. where is all of that money coming from, and have we learned nothing? rick newman is the chief business correspondent for u.s. news. rick, they re trying to tell us to party like it s 2005. the contradiction between what s happening in washington and in europe, and then what america is trying to do for the holidays is pretty stark. you know, you see these numbers about how much money people are spending for the holidays and it reminds you back when people suddenly had expensive cars in their driveway, boats, fancy vacations. you wonder, how are
what would you say, i never asked you this, what s your key to understanding money? my question is we must live below our means and put a little away to build future. it gives cushion and that allows a less stressful life, quite frankly. this is why we ve been fighting. you don t put money away. i think it s something you should use to get more money, seize opportunities, take measured risks. he likes to risk his, i like to save my, i don t want to lose it. that s frankly a way a lot of spenders and savers are. she has a minivan. and he has a motorcycle. a perfect metaphor. in our relationships or dealing with any part of this economy, our goal for you this hour is by the end of this hour, you will feel confident about money and be able to speak money in your job, with your mortgage banker, with your spouse, with a little more confidence. we wrote a book about it, but we didn t do it alone. here to help you for the hour, jeff garrier, lynette, cal fanni-fox, a
black diamond mogul, icy black diamond, and the mountain is moving and chasing you the whole way down and you re trying to stay under it and stay close to it without letting it crush you. maybe that can put it into perspective for everybody out there. are you holding your breath? what are you looking at? the whole time i was looking at the bumps. it s like looking at the moguls to make sure you don t hit them wrong. this wave took so long to get to the bottom, i actually had a few seconds to look back at the wave two or three times, which i never really get to do. i usually just get to the bottom and turn. this one took forever. i got to see, check it out. okay, i am a all right? i am a in the right place? i feel you reliving this, garrett. what in the world is next for you? how do you top 90 feet? i don t know. i m trying to if i go it out. i m not sure. we re going to have to go back home to hawaii and surf for eddie at the bay. my friends would say you caught som
candidate for the republican nomination for the president, has been kind enough to join us in our studios in washington, d.c., and he s joining us live this morning after what was surely a very stressful and busy day yesterday. i do hope you got some sleep, and thank you for being with us. our viewers do thank you, too. thank you, robin, and it was a busy day but i survived. this is why it was a busy day, and we re going to talk about many issues, but let s start with what s at the top of the news. many people are asking, did you say something early yesterday about sexual allegations against you but something completely different hours later? let s watch as things happened yesterday. if the restaurant association did a settlement, i am i wasn t even aware of it and i hope it wasn t for much because nothing happened. so if there was a settlement, it was handled by some of the other officers that worked for me at the association, so the answer is absolutely not. i am un
using their shoes. let s begin with you at the new york stock exchange. tell us about the dow and in doing so, talk to me about europe. reporter: okay. the dow has been in rally mode all day. right now it s at 358. the nasdaq s&p had been in rally mode. for the market overall, it is shaping up as one of the best months ever. this all happening because this european debt deal is giving investors a big shot of confidence. this is deal that wall street has been waiting for. these debt problems have been years in the making. so here s what this dleel do. it will do several thing. first it will have banks write off half the value of their greek bonds so greece won t owe them as much money. it will free up cash so greece can pay other bills. it will do two other thing. it will force banks to set aside more cash and it boosts the european bailout fund. these are insurance american purchases are meant to prepare europe. we ve talked so much about greece but i think we need to tal