in the markets do you think a president should stand and reassure the american people, come back from vacation, whatever the case may be? the most important thing is the president telling the truth. if we are in trouble and we have to change policies like i just mentioned, you have to come clean. you have to tell them, this is a debt problem, this is what we have to do, we have to change foreign policy and monetary policy. telling the truth is the first step. if people know you are telling the truth and you are going to reform and have new policy, this is the only way you can start to reassure people and get their confidence back. if you keep fibbing around and say all we need is another qe2 and qe3 and all we have to do is bail out and have another stimulus program, people don t believe that anymore. i say people standing up in a leadership position telling the american people the truth would be the best thing to get things
housing here is nothing. we are down to an eight-year low. jenna: let s go back to the european banks and their arms in the united states. you mentioned that the federal reserve and banks are taking a look at supports potentially for these banks. we talk a lot about qe3. some of the stimulus that was provided by the fed was provided worldwide not just in the united states. europe really benefitted from that. could that put more pressure on our central bank to do another round of stimulus because of some fear here that this contagen that you mentioned could spread. reporter: you raise a very good point, in all seriousness. people forget when they hear what is going on in paris or
political reason for doing it. what did you think of the exchange? more power to rick perry for calling it like he saw it. the president in his typical reactionary way did elevate rick perry and what it is he had to say. what rick perry had to say is what i wrote 10 months ago about quantity tie toug about quantd devaluing our dollar by printing more money. what rick perry was talking about is what many of us have been talking about for many many months and that is the danger of a qe3 program being put into place. he used that rhetoric he uses there in texas. evidently the president took some issue to that. it s evidence of our president s arrogance, unfortunately, to tell a presidential candidate what to say, what not to say.
europeans and the americans might have to have more central bank intervention into the markets and also said that there have been policy decisions in europe and the united states that have been poor, and then on top of that, that was enough. that was already bad, brooke. then we got some economic reports right here in the united states. slowdown in housing, slowdown in manufacturing, and, you know, not a great report about new jobless claims. basically it all piled on. people ran out of stocks and back into into, you know, safer investments, but, really, it all started in europe. let s go there, richard quest. tell us what you did. we had a pretty awful day on the european markets. the dax in germany, main index in germany was off by 6%. by the close, all the major european markets down 4%, 4.5% and 5%. and the real reason, very much following on your theme, having had fear, worry and concern. now there are facts, and they may not be very strong facts, but as we will show
bit remarks to the judge who says the governor is pressing his frustration with the economy. what do you make of him? judge napolitano: i would have applauded the governor if i was there. they can speak with exaggeration to make their point. treason is defined in the constitution and as horrible as qe3; it is not treason. neil: buying up more paper. judge napolitano: the gone any money. governor perry was making a point. most americans understand what the fed has done and many americans are against this happening again because inflation is the cruel tax. did the governor threaten the chairman? no. did he say harm would come to him? no. he was using his, can i say, texas swagger. neil: don t you have to be careful when you are running for president. i know reagan used off the cuff comments about bombing the