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CNNW John King USA August 19, 2011

another recession. and adds new urgency to the political debate here in washington over new jobs initiatives. the dow jones industrial average was down just short of 420 points or 3.7%. the nasdaq down 5.2%. the s & p 500 down 4.5%. it is what drove the markets down that is again stoking recession fears. overseas more jitters as europe struggles to contain its debt crisis. here at home, data some see as evidence of a new downturn. weekly unemployment claims rose much more than expected. sales of existing homes dropped by 3.5% in july. analysts had been expecting a modest increase. the key manufacturing index was way down. and inflation on consumer goods was up. add in collapsening consumer confident and you get sober advice like this. 2012 could be a very difficult year. i m on the camp that we have more chance of being in recession than avoiding it. so they should be conservative right now. their confidence should be down. because there s every reason out there that ....

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CNNW AM Wake Up Call August 19, 2011

here, that arrow just refuses to turn green. the s&p lost more than 4%. the nasdaq sank more than that to 5%. it sank 5%. so what has rattled the markets this time? it s a combo platter of bad news, jobless claims are up, existing home sales are down. consumer prices are up and the plfrg industry has gotten weaker. no wonder a top economic adviser is flying to martha s vineyard next week to help president obama with his job proposal. then there was this report from morgan stanley, not paint ag pretty picture for the united states or europe. brace yourself. you re about to hear the r word again. here is our chief business correspondent, ali velshi. it said things we had all sort of thought, but now it was on paper. number one, it said we are dangerously close to a recession. dangerously close. it doesn t say it s entirely likely or it s their base assumption, but dangerously close. it says europe and the u.s. have made policy errors, policy errors. that s the central ....

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CNNW John King USA August 18, 2011

sales of existing homes dropped. and manufacturers had been expecting a modest increase. and inflation on consumer goods was up. add in collapsing consumer confidence and you get sober advice like this 2012 could be a very difficult year. i m on the camp that we have more chance of being in recession than avoiding it. so, they should be conservative right now. their confidence should be down because there s every reason out there that they shouldn t feel confident. getting us started tonight our chief business correspondent ali velshi takes us behind the numbers. john, when you have days like this, it s hard to get a sense to pull back and take a further view, so i wanted to do that and pull back and take a look at the dow which is, you know, what a lot of people s 401(k)s look like, wanted to take it from the beginning of the year. 11,500 on the dow, went up to 12,500,000 and back down in june and july went back up. middle of july you would have thought everyth ....

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