good morning, everyone. phil is making jokes before 6:00 a.m. it s friday. we re glad you re with us. five things to know for this friday, september 8th. we want to start with weather breaking overnight. hurricane lee intensify ing int a category 5 storm with sustained winds of 160 miles per hour. that was double what it was 24 hours ago. the big question, is it going to hit the east coast or make a turn and stay in the atlantic. and eight sightings, but an escaped murderer is still on the run. and new overnight, we re hearing from the american trapped 3,000 feet deep in a cave. he says he was very close to the edge suffering from internal bleeding and rescuers saved his life. this morning for if the first time we re expected to see the full report from the special grand jury in georgia. they are investigating efforts to overturn the 2020 election. we ll see if it has any new information that was not included in the indictments against former president trump and his 18
consulting with the leaders of our military, the leaders of our state department, diplomats. he has a tendency to engage in foreign affairs in a way that s about his personality and ego. so he likes that the north korean dictator flatters him with a letter and he decides to elevate the north korean dictator with a photo-op and a summit of sorts. and then to take the word of the north korean dictator over the word of the american intelligence community when it comes to an american student who was tortured and later died. we have a president of the united states who by the way is the commander in chief who also prefers to take the word of a russian president over the word of the american intelligence community when it comes to the russians interference in the election of the president of the united states, which the american intelligence community has been very clear did happen. we have a commander in chief kurnltly who prefers to take the word of a saudi prince over the word of the amer
international disputes in the region. thanks so much. appreciate it. we look at other stories topping the news. lockheed martin is warning of massive layoffs if $500 billion in automatic pentagon budget cuts take effect in january as kurnltly scheduled. lockheed is the pentagon s largest supplier. according to reports lockheed could be forces to lay off 10% of the current work force if nears 145,000 and those pink slips go out right before election day. stocks sharply lower on concerns of a european union summit this week will do little to resolve europe s debt problems. we see red arrows with the dow jones down by 165 points. some good news, though. new home sales in may rose at the fastest pace in two years, evidence that the housing market is slowly coming back. it s crunch time for congress on the issue of student loans, interest rates on those loans
for years and a participate of vehicle for the inflation of the housing bubble itself, one that we have bailed out along with the banks, now disclosed today that they have financial bets that profit, if the american homeowner can t resolve the mortgage. explain how it is that a tax-payer funded agency that we have bailed out is kurnltly legally betting on our inability to solve our housing crisis. i think that s a good question for people to ask and to ask their congressman and white house about is how they can let something like that happen. it s a they are allowed to make these bets. we have seen it with goldman sachs where they bet against the housing market. we continue to see that with freddie mac. i almost feel like freddie