Volume on the light side. No surprise. Holidayshortened week and the jewish holidays this week. Nasdaq up 22. 74. The s p 500 up 6. 69, about half a percent at 1,639. Joining me now to help break down the day is amy wu, nathan, bob kaiser from s p capital, and our own rick santelli. Thank you very much for joining us. Bob, let me kick this off with you, get your take on the fundamentals out there. How do earnings look to you as we approach the end of the Third Quarter . Were about to close the books on the Second Quarter. We really need to look forward at this point, maria. The ism data today was great news for the market. So the Third Quarter right now for the ism is running at 55. You have to go back to the Second Quarter of 2011 to find the ism at that level. So it looks like the economy is picking up in the Third Quarter, which is great, because, as you know, the Second Quarter we just came off negative revenue growth. And if revenues are expected to grow 4 over the balance of this
Its strategy. For those looking at cspan dont think about its coming your city next. There are 125 cities all across america that after bankruptcy. Detroit is now become the model. They want to even impose legislation nationally model after the success that if cities in economic distress make them not qualify for any federal dollars. Thats model after detroit pen. Senator Lindsay Graham from South Carolina who have nor federal dollars and senator cole from texas, who has so much money he cant count it through add ons. A senator from utah who was gotten 86. 1 million for warren hatch, for the rail system. These are the guys saying because they did it detroit. Theyre not saying detroit. Its for detroit that some lse d on economic distress. We are here today to say it was premature. There was no significant negotiation. Detroit is better than what we perceive to be. We have not seen the real detroit. Detroit an economically pillaged right now. [cheering and applause] economically pillaged
With us senior political analyst Mark Halperin. I was going to do a three thumb fight but willie wasnt up for it. Ill beat you that on any day. Msnbc analyst and visiting professor harold ford junior. Good morning. It was funny stuff last night. It was funny except its not fun funny. I guess he had to address all of David Lettermans jokes. I interviewed Chris Christie for my book coming up in may very seriously about his weight and about how much those jokes hurt him. I guess he felt he had to do that to sort of, you know, break the ice with letterman. What do you mean those jokes hurt him . They hurt his feelings. I want to see another clip and see how hurt he is . He handles it very well. Do you have family members who are also heavy . No. Im the guy. You are the guy. Im the guy. How is your health sxwlmpt if you went to a doctor today, what would the doctor say . Startlingly good. How is your cholesterol . My cholesterol is normal, believe it or not. Thats pretty good. What about yo
That is also pretty big interestingly, as a surprise, i sold my book to the publishers september 2008 before the by banjo crisis. Then it have been to and many people were sad. I thought the entire premise of my book is gone. The super e lead to is over the crisis as happened surely this will change completely and of which will be wiped out there will be a new calibration so i wrote to a new book proposal but talking to the publishers they said the old one will work. The data has borne that out i talk about the 1 recovery. Look at the economic recovery, the numbers within tuned Income Distribution and a couple of the economist with income it distribution they have crunched the numbers through 2009 2010 but 93 of the income recovery went to the top 1 and even more astonishing was 37 of the recovery went to the top zero plays o . They were hit particularly hard because they had financial assets. But that is a pretty big rebound and amounted about 4. 2 million per family. Why is there pol
Uniform. Once again, happy veterans day. Especially my dad in baltimore, maryland. Happy veterans day, dad. That does it for way too way early. Morning joe starts right now. Bob schieffer is the kind of guy who knows how to take care of business. He interviewed president obama sunday morning yesterday morning, didnt beat around the bush, didnt waste any time. Went right to it. This is face the nation. All the president s in modern history who have been successful, lbj, fdr, Ronald Reagan, teddy roosevelt, bill clinton they all seem to have a zest for politics. I dont have a sense that you have the same feeling they did. It makes me do you like politicians . Do you like politics . No. Thank you, mr. President. Thank you. I enjoyed it. All right then. Good morning it is tuesday, november 11th, veterans day. Welcome to morning joe. With us on the set we have Mike Barnacle and msnbc political analyst and visiting professor at nyu, former democratic congressman harold ford jr. And willie an