>> this is n.b.r. >> tom: good evening, i'm tom hudson. from europe to china, central banks around the globe take action to boost their sagging economies. should more be done in the u.s.? >> susie: i'm susie gharib. getting new medicines to market faster. speeding up the government's drug approval process. why investors and patients are on board. >> tom: and "made in america" tonight, a craft beer company brewing up a national expansion. >> susie: that and more tonight on "n.b.r."! >> susie: the global economy was the hot topic in markets around the world today. central banks in europe, the u.k., and china announced moves to boost growth. the european central bank lowered interest rates to an all-time low. china cut several key interest rates for the second time in a month. and the bank of england held its rates steady, but said it will pump billions of dollars into its economy through a new round of bond buying. here in the u.s., some hopeful signs for the weak job market. private employers added 176,000 new workers to their payrolls in june, stronger than the previous month. and

mutilation, with honor killings every day again and again. and during the last three decades europe made a fatal mistake. it allowed millions of people from islamic countries to immigrate to our continent, and so many people rooted in a culture that this entirely different from our own judeo-christian culture have entered europe, that our heritage, that our freedom, that our prosperity and that our culture is in danger. and perhaps many americans still believe that europe is the place they know from a tourist trip long ago or from their grandparents' stories. i have to disappoint you. this europe, this europe is on the verge of disappearing. in each one of our cities both an italian author shortly before she died in the year 2006, in each one of our cities there is a second city, a state within the state, a government within the government, a muslim city, a city ruled by the koran, end of quote. and perhaps many americans see immigration as something which is inherently good for our country. since i know it contributed in the past so much to the united states, but while most of the former

its core mission which is to keep the peace in the trans-atlantic area in particularly in europe i think it's a performs of great value and contribution international peace because it provides transparency and prevents dean nations from europe from re nationalizing their militaries so that way there's no competition or rivalries within europe but they're all united in one security organization that keeps the peace well george you really it's very hard to take that seriously about you know national militaries in europe right now i do you see the possibility of conflict among european countries today in two thousand and twelve. so the question of seeing it today we don't see it today because we have the benefit of nato that's existed now for over sixty years but the problem is if we look at other regions in the world that don't have these type of successful healthy and positive security organizations we see all of these rivalries nato was created to solve the historic rivalries that had existed in europe for centuries and it has succeeded in do so so why give that up and return to th

treasury, tim geithner. >> i think these two clouds over us, one is the impact of europe on growth here around the world and how they manage the crisis and the second is a broader concern about whether the political institutions of the country are going to find a boy to move again, to govern again, become unstuck and do something good for the economy in the long run, i think this concern about washington being stuck got much more scary last summer when we had the crisis over the debt limit because you had large part of one party threatening to default, first time in history. >> rose: geithner for the hour next. funding for charlie rose was provided by the following. captioning sponsored by rose communications >> tonight the special edition of charlie rose. >> rose: tim geithner is here the united states secretary of the treasury, the longest member of obama's economic team, part of the nation's response to the crisis dating back to his tenure of his tenure a at the new york federal reserve he has seen a range of measures to both protect and stimulate growth, today the economy sits

fret. >> reporter: wall street could certainly use another topic to focus on, what with europe dominating headlines for weeks. earnings season is likely to provide that distraction. but it's also likely to make many investors unhappy. that's because s&p 500 firms are expected to report only a 5.5% gain in second quarter profits. a few months ago, the number was a healthier 9%. >> it's very worrisome, because companies have already given a lot of negative pre-announcements. in fact, for every one positive pre-announcement, we've received three negative pre-announcements, which is the weakest showing since the fourth quarter of 2008. >> reporter: making matters worse, a big slice of the s&p 500's q-2 gain will come from one company, apple. the other 499 names in the s&p are dealing with a host of problems, including a slowing u.s. economy. on top of that, there's europe's big debt crisis and the emerging slowdown in china. >> double-digit growth in china has now shrunk to about 8%, and while that's still a great number, companies just can't rely on those outstanding sales numbers

europe could be on the cards. >>> and volkswagen trades higher after they say it will complete a takeover of porsche much earlier than expected. >>> okay. welcome to today's program. becky's with us today. >> i am. >> neither kelly nor i were here yesterday. >> i did three hours on my own. it was great fun. i did miss you. >> i am here now and kelly is down at the house of parliament reporting on what's going on. >> second day. i've been looking at the weather forecast. it's supposed to rain all morning. >> perfect. good. we're tucked up here. she's out there. we'll get to kelly later in the show. >>> we will go to singapore. bringing details of how the powerful sovereign wealth fund is shuffling its portfolio. >> we'll get analysis from a bond expert. that's come up in under 30 minutes and the results of the debt auction will be in an hour and a half. >> i'll be interesting to see what the ten-year is. we'll give you a taste of an interview with the chairman in dubai. >> plus, we'll be joined by a guest from houston who says without further qe from the feds, economy will be clos

constitution cannot be disregarded even in times of crisis. >> europe needs the democratic constitutional state just as the democratic constitutional state needs europe. those who tipped the scales in favor of one side lose the other. >> more than 12,000 legal challenges have been lodged with the court. plaintiffs feared germany is giving away too much power to brussels. >> we do not want people like you and i, voters in germany, to wake up tomorrow to find that we are allowed to vote for german parliament, but that parliament has ceded key elements of laws governing budgets to europe. >> the court has invited a large number of experts to assess the case. the german government is represented by the finance minister, who warned that the markets could lose confidence if the new bailout fund is delayed. >> i am please we are having this hearing, and i hope that through a thorough examination of the case, the constitutional court will issue its ruling soon. >> first of all, judges have to decide if the federal president is allowed to sign the laws already passed by parliament. if so, they cou

-day rally. worries about europe's debt crisis dominated trading on word that spain's government said its economy will remain in recession next year. the downbeat forecast came on the same day that spain received approval for its first round of bailout money from european finance ministers. the dow tumbled 120 points, the nasdaq fell 40 and the s&p down 13. those economic problems in europe will weigh on the u.s. economy. that's the forecast from tonight's market guest: nick colas, chief market strategist at convergex group. nick, worries about europe have been on the back burner. are we back to worrying about europe again? >> i'm afraid we are. we got that news out of spain this morning which just brings home the fact that the economies of southern europe, spain, italy, obviously greece, are weak, and all the efforts to install austerity are going to make them weaker. so it's on the headlines. >> susie: what do you make of the forecast from spain. how much is it going to spread to other countries in europe? >> well, it certainly was not a great surprise, i think. i think the market t

legacy of the soviet union and the rise of nationalism in a supposedly multicultural europe. jeffrey roberts professor at university college of island thank you very much for being with us today thank you so here in russia there are two dimensionally different takes on stalley some say he was a great guy who won the second world war and he actually gave the country an immense post another state at that actually he undermined the economy which led to the eventual collapse of the u.s.s.r. what's your take on that when stalin dog winston churchill was reported to have said that stalin found russia with a wooden and he left it with atomic bombs and i think that statement sums up stalin's achievement was to modernize the soviet union to urbanize or unity duster like the soviet union to build the foundations of a country that was able to withstand the germany in beijing in one nine hundred forty one and go on with a picture of fascism and also the foundation for you know the post-war role is to solve it you to a nuclear superpower you know if russia is still a great country to die. with an

about that, and he brings a perspective that we don't have. he's from europe. he's seen what's gone on there. he knows what's going on in the middle east, and it's great that he worries about america. i'm excited to hear from geert wilders. what an honor. ladies and gentlemen. give it up for geert wilders. [ applause ] [ cheers and applause ] >> thank you, craig, for your most kind words. thank you, friends, ladies and gentlemen, for inviting me to this western conservative summit. for me it's always an honor and a privilege to come to america. i was here a few weeks ago to meet with my dear friend, michele bachmann, representative of you to talk -- to talk about indeed the threat of islam, both to america and europe. and today i'm very proud to be in denver, the gateway to the west. this is, as i see it, america's heartland, conservative heartland where the spirit of your pioneers still lives. and i know -- i know that i come at a sad moment. many of you have been affected by the enormous wildfires raging not far from here. thousands have been evacuated, and some of them are even stay

then you see these huge nationalist right wing dressing up in europe what's to blame well that that's that's not the extreme right movement in europe ultranationalist in the national journal is not a new phenomenon or recently no it's true that recently. the political influence of national gnashes of its very strong particularly the more extreme forms has grown in various countries of europe. i think that has mostly to do with the economic and political problems but europe is. facing at the moment which poses a dollar for it to know the whole future of the european union i think is also part of we've. you know as time goes on the war you know received from many memory becomes a much more distant event and the more time elapses. the more possibilities there offer people to europe which. distorted accounts. of the war so i think it's partly a function of of the distance we've got to travel from war to partly explains. this development of nationalism ultranationalists tree nationalism in europe but then because the moment the main reason i mix the two with contemporary politics i know ec

special situation that can go down now, in part because of europe. everything that's got international sales. but i still think it should be owned. that does not mean traded, does not mean rented. owned. you have to take some short-term pain to get to longer term gain. hey, let's google where we are with apple. right now -- >> the house of pain. >> the house of pleasure. >> it's real special and there aren't that many special situations that should be able to handle the pressure. we can't gain quarter to quarter highs and lows. but if it's real special, i can do it. now, yield is something we can game. stock yields are so much bigger than bond yields. not as much risk as we're used to seeing. it's how low bonds have gone in yield and how high they've gone in price. i have never seen anything like this. 31 years, we haven't seen anything like it. eaton bottomed yesterday. you simply discovered the terrific industrial is in stronger shape than it should be and it's got a much better yield than treasuries. why not wait? meanwhile, many of the oils share that characteristic. yielding 4%, c

europe makes of internet piracy pirates walk the plank rejecting the agreement which could of big corporations cut off people's whereabouts. if they actually for the opposition last been saying that is a grave threat to individual freedoms will do only for all the details in a few moments. war of words a dispute over a law allowing russian to be used in ukraine sees riot police tackle angry crowds in kiev. and the minute matter that gave us all this scientists claim they finally found the elusive god particle which could explain how everything in the universe exists. eight pm wednesday night here in moscow welcome if you just joined us you're watching r.t. with me kevin now in and first this hour sire relief today from europe's internet users little earlier on the e.u. parliament rejected the taurus online piracy treaty act the anti counterfeiting trade agreement was drafted to protect internet copyright laws but met with wide rage in europe for threatening people's web freedom up today it is our brussels correspondent. there were already a lot of signs very very strong opposition

of names and quickly piling up. merge pern companies are taking a hit from europe. we'll go in focus with micah and rick and mike what do you think. there is too much government debt. businesses are not expand entrepreneurs are not starting new businesses and unemployment is very high. i agree with mike that we have issuings. but i don't think europe will put us in a whole. experts make up only two percent of american gdp. if you see the u.s. banks pull back on lending we'll have problems. >> to victoria's point. then europe and china matter more on the u.s. economy. what do you think? >> i think we were so burned by the 2008 melt down that many people didn't see we overdo the threat on the horizon. victoria is right. it takes a couple of 10ths of a point and we are perilous close to a rescission. i don't think it is a big event. rick, they are worried about the fiscal christs and we have a capitol strike going on. u.s. treasuriers saying we are parking 50 percent of the debt in u.s. backings. isn't that poor of problem. >> we hear the bad news and it makes us nervous . victoria hit

position underscored how unemployment and decelerating growth, the debt crisis in europe and the approaching fiscal cliff will continue to pose difficult challenges in the months ahead. i am pleased to have tim geithner back on this program. >> nice to see you, charlie. >> rose: we have many things to talk about, beginning with the u.s. economic recovery, how are we? because for a while people thought it was moving forward, and now will is a sense to we hear a sputtering. >> it is definitely slower than it has been and that is not a good thing, slower for the reasons you said, we had oil price rise earlier the year and europe's crisis asserting growth everywhere, government spending is really falling across the, all levels of the government and slowing the recovery, there are big head wind now and that's why the economy is slowing. if you talk to most economists, most business people they still see an economy expanding, still healing, still repairing the damage and making progress, growing maybe a little faster than it did in the first half of the year but two big risks you refer

working hard to build the image of europe's most tolerant country to legalize soft drugs and prostitution as well as same sex marriages freedom of opinion and liberty are the call values of the modern netherlands. coffeeshops. status will be all. that i will be no. there will be no fear. on the streets so the youth will be protected so they won't be doing hopeful things. these young people are representatives of the islamic organization shari'a for holland there are groups of this kind all across western europe only recently to great britain banned a similar group of islamist the chief mission of these orthodox muslims is to establish shari'a law that's the combination between democracy and sharia it's either democracy or syria. the same is the twenty nine year old leader of shari'a for holland even though he is actually of moroccan descent christine was born in the netherlands schooled here and is fluent in dutch and english. but at the same time he rejects western values and meticulously observes all the rules of the qur'an. for instance he would pray in any place even in t

entire system nevertheless europe has committed several countries of course turkey has committed poland italy to at least have some role to play in this defense system only a radar capability. nato is scrambling to kind of find the money for this because it's going to be an extraordinarily expensive system and the europeans have only pointed up a small portion of that and you know at a time when the united states is desperately looking for ways to cut military as much as five hundred billion minimum i think state yours is going to be tough to to find support both here in the united states and in europe for a much more robust missile defense system so i think nato is trying to put a best possible face on what is still a contentious issue and that's not even taking into account russia's opposition to defend the scientists you were referring to even said that they should ask wrap key parts of the whole system but. there is complains that this system doesn't even protect the u.s. it rather protects europe you know well there are a lot of systems that we have in place that have dubiou

: i'm tom hudson, "n.b.r."'s diane eastabrook joins us to talk mcdonald's; from earnings to europe and rising food costs, the outlook for the fast-food giant. >> susie: and we kick off a week long look at cyber security, focusing on the big business of protecting you online. >> tom: that and more tonight on "n.b.r."! >> tom: stock markets around the world staged a sharp sell off today, led by losses in europe. fears continue building that spain might need a full-scale bailout. here in the u.s., stocks sold off early, but pared back the losses by the closing bell. the dow tumbled 101 points, it had been down, as much as, 240 points earlier in the session. the nasdaq lost 35, the s&p was down 12 points. erika miller reports spain's troubles now include the country's regional governments. >> reporter: valencia, spain has long been known for two things-- paella and its large port. but lately spain's third largest city has garnered unwanted attention as the first spanish region to seek a bailout. six others are in danger of following suit. >> it's worrisome, in the sense if they start t

europe makes an internet piracy pact walk the plank rejecting the agreement which could have led to big corporations cut off people have web access. is victory for the opposition who has been saying that act is a grave threat to individual freedoms will join me for all the details in a few moments. war of words a dispute over a law allowing russian to be used in ukraine sees riot police tackle angry crowds in kiev. and the molecules and game of all this scientists claim they finally found the elusive god particle which could explain how everything in the universe exists. it's five pm in the moscow you're watching archie i mean it's in our way with our top story and a sigh of relief from europe's internet users within the past few hours the e.u. parliament rejected a tory a song live piracy treaty act up the empty counterfeiting trade agreement was drafted to protect internet copyright laws but met with white outrage in europe for threatening people's web freedom or brussels correspondent has our silly a is following developments. there were already a lot of signs very very strong op

levels since march '09. it carried over here into europe with the dax now down by 3%. red arrows across the board. >> amazingly it was a lot worse this morning. the road map begins in europe. the biggest intraday loss in the markets as reports suggest imf may refuse more bailout payments for greece. euro era highs as the country bans short-leg. >> mcdonald's misses for the first time in two years because of fx headwinds. shares are trading sharply lower with a disappointment soaking concerns of other blue chips. >> at least the chinese are going shopping. three deals where chinese companies are buying some kind of foreign sneak. canadian and oil gas company being bought for $15 million in cash. >> we start with futures here in the united states. down sharply this morning as worries about the european debt crisis worry. fears that spain will need a bailout. meantime, spain's market regular hater announcing a three-month ban on short-telling of all stocks. you also have concerns that greece will not meet its bailout commitments. this as the troika hits the ground, greek prime minister say

a result of europe, and of course europe the reason friday to a certain extent. nothing out of there this morning that would change the tone completely, but we're talking france, gdp growth not as strong, and using strong at all to describe any -- >> ecb, of course, meets this week action a lot of speculation, and a big part of the conversation last week was, okay, if they cut, generally not a positive in any currency, but in this case maybe traders would see it as, look, second half, the risks are more to lower inflation and growth. maybe that would just be the gas the euro does need. >> that is counter to what historically the interest rains probably would mean that currencies would go down, but in this case a cut would clear the way, and currency traders are setting up for that, and for the euro to find some lift to the upper part of the range. so you've seen the euro play that range tightly here, and here we have a pullback. >> june was -- a lot of questions about china. china, of course, second largest economy in the world and europe having a lot to do with that as well, but tha

entire regions all of europe all of america it's they're occupied by derivatives we have to suspend our sovereignty in order to make whole and to appease these credit derivatives with hostile intent well you know it happened in cairo the algorithm is jacked up the price of food there was a revolution we saw it happen in europe the computers are crashing the bond markets and now they've got a new world government in europe it's the computer's artificial intelligence i think is taking itself public within their own collective unconscious and manifesting itself in the price action on these exchanges that we believe is happening independent of our own mass psychosis but in fact it's happening para pursue with their own in built the lemming like propensity to commit mass suicide this this global economy is jim jones writ large we are all drinking the kool-aid laced with cyanide helping with the help of computer algorithms so i've established that we've been occupied by derivatives with a hostile intent the first nation to surrender to these hostile derivatives is france france has no problem

, and by that i mean, the wt, north america, europe, and japan, though not geographically part of he west, partf e sin w w ii. this zone has been going through a rough patch. our economies have slowed. we are facing debt crises and we are not sur o g u . sys se up and they don't seem as swift footed as th were during the balance of the 20th century. if you pan out to other parts of depiorinsme e u d th opposite. they are enjoying unprecedented economic growth, they have new wind in their sais,y w,t wayo the fourth summit, they are beginning to organize themselv, brazil, china, south africa -- th d't know exactly whatt wantr wd byw tdowaanat wiwich they continue to feel as if they are operating in the shadow of western power. and i don't thinkyou would be wrg y s tha is vi teugn we that seem to have a the wind in their sails, if you concluded there is something fundamentally going on. i think something fundamental is going on. what we are witnessing is one f those moments inhsori which the center of gravity is starting to move. the last time that happened was about 300 years ago. let'

story and it's a sigh of relief from europe's internet users within the past few hours the e.u. parliament's rejected a notorious online piracy treaty act the empty counterfeiting trade agreement was drafted to protect internet copyright laws but met with wide outrage and europe for threatening people's web freedom or brussels correspondent tess are silly is following developments. there were already a lot of signs very very strong opposition leading up to today's vote that it will be rejected by the european parliament the arguments opposing of the fact that this possible passage of this could possibly infringe on a lot of individual freedoms especially when it comes to internet freedom so out of the four possible outcomes in parliament what happened today is that they had rejected this counterfeiting trade agreement and what it essentially means is that europe as a whole would be out of this agreement and this has been signed by several other countries including the u.s. australia and if this is to be ratified by six of those parties europe will not be a part of it europe is