advanced economy out there. europe is flirting with a double or triple dip recession. japan in recession for the last couple of quarters. russia looking very tough over there. even china slowing down. so the u.s. economy has some momentum. all the statistics you messagesed are real. oil is real. let s see where it goes. will that throw out the anchor for the u.s. economy? will the global economy and, you know, those have been in the headlines over the last month. we may be doing okay but the global we look to the global space, that could slow us down. let me throw another number out. one we don t typically talk about. 14%. that is the share of u.s. gdp that is our exports. we export 14% of the gdp. in a sense that s how vulnerable we are in that regard. one out of $7. that s small relative to most other countries. you look at a germany, for example, they export something
navigate with the stock market. you know, the stock market is really they are really kind of taking a role that traditionally belongs to the bond market. especially in regards to coal mines, attempting to pressure washington to come up with some sort of a deal. i would caution against using the stock market, you know, really wanting them as something that would be inclusive for the entire economy. you know, hitting the so-called fiscal cliff january 1, it probably won t have a major impact immediately. bill: what about the double dip recession that david mentioned? a lot of people think that the double dip recession comes with the fiscal cliff b1 are you saying that the possibility? it has been a possibility all along. if you take out the gdp number, which is influenced by government spending and inflation, this is always something that is hovering over our heads. i think the goal should probably
anything. why? because the republicans took the position they were not going to agree to anything. you saw a vast majority of them where they would vote almost with exclusivity. nobody would change. this time i think you see that the republicans won t be in 100% lock step with their ideological positions. some realize that they re state will be on the line and they have to compromise. that along with the democrats move along will give us the numbers we need to move our country forward. there s a real claim the president was making that taxes were actually were a core issue of the campaign. and that you know, whatever responsibility people have to govern, that there is a bit of a mandate to reduce those taxes for the middle class or at least hold them stable but to allow the expiration of the bush tax cuts at the top. really, is that seriously going to send us into recession? we know this could send us into double dip recession. would letting the expiration of