need it. they need it because here in new jersey there s a lot of cheating. a shame it comes to that that people are so worried that they resort to those type of tactics. reporter: this case steps from a lawsuit by a man whose wife divorced him for cheating after she put the device if his car to keep tabs on his whereabouts. the economy is washed to be closer to a catastrophe than lawmakers might think, and a stalemate on raising the debt ceiling could trigger that dive. charlie cook writes an economy this fragile can scarcely afford the damage that could come from the partisans on the left and right playing chicken in debt ceiling increase negotiations. it is not hard to imagine the roller coaster ride the likely plunges in the markets and the moejts of sheer terror that we could face over the next month. frightening there. charlie cook joins me right now. he is also an msnbc political analyst. charlie, good morning. good morning, alex. could the markets panic even before
states. of course, her husband, the prince, in tow. then they will head up here later today for a polo match, known as the sports of kings, fittingly. william will participate. kate will hand out the trophy. reporter: attractive, young, and glamorous. william and kate finally stepped out to american soil friday in the city synonymous with celebrity. the first gift a flora bouquet in red, white, and blue. from the start, the future king and queen were given hole weed s celebrity treatment. on the ground at every stop fans showed up just to get a glimpse. we are fascinated with her. she s perfect in our eyes. reporter: their three-day trip will blend business with pleasure. a brunch raising money for one of the prince s palgss, the conservation of african wildlife. he has a very genuine concern for the environment and for conservation and a deep love and affection for the african
slow growth economy companies found a way to make money again. steve also says companies hoping to see more confidence on the part of consumers before they have the confidence to start hiring. capitol hill will be buzzing today ahead of a major meeting at the white house tomorrow on the debt ceiling. top lawmakers from both sides of the aisle will sit down president obama and vice president biden hoping to get closer to cutting a deal. this morning the president said there is common ground, but it will mean unpopular decisions by both parties. we agree on some of the big things. we agree that after a decade of racking up deficits and debt we need to get our fiscal house in order. we agreed that to do that both sides are going to have to step outside of their comfort zones and make some political sacrifices. and we agree that we simply cannot afford to default on our national obligations for the first time in our history. meanwhile, republicans are hitting the president and stan
continent. rirchlg the well manicured lawn is ready, and william s opponents promise they won t pull any punches for the prince. once we re on the field, it s competitive. it has to be. reporter: on friday the cowboy couple kicking off every step of the way. tonight the windsors will be welcomed by a who s who of hollywood. right here. among the celebrities expected to hob knock at the evening s black tie affair, nicole kidman, tom hanks, and jennifer lopez. what will the fashion-friendly princess wear? the full length gown inside that clear garment bag could be a sneak peek. the cash-strapped state of california has been eagerly anticipating this chance to play host. the royal couple is coming to california for three days. reporter: a national tv ad invats visitors from across the country to come west as well. do they know we have castles?
reacting very much as expected. they are reacting badly. the benchmark nikkei dropped 6%, a 634-point plunge effectively wiping out all gains made since the start of the year. the bleak news raises obvious concerns about how this will affect trading on the u.s. front and questions about how soon japan can recover from this huge loss. cnbc s steve leaseman joins me now. steve, what we re seeing here was pretty much expected, but explain to all of us, japan s economy has been in flux for some time now. yeah, it has been. i ll tell you there s a lot of comparison to the kobe earthquake and what happened back then, the damage was estimated about $100 billion and some of the early estimates we re seeing now is $170 billion. what you saw then was the bank of japan stepped in and put a lot of money to the economy, very much what we heard this morning. then the government spent some 3.4 trillion yen over several years rebuilding. that is expected again. bottom line, this is expected to