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Mason: Economy Muddling Along

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    CBS News’ Anthony Mason on the state of the economy and whether it will recover soon.

  • Duration 9:08
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There was -- Why they were kind of muddle along -- limited.

You know I think we'll get another kind of lackluster number that says you know we're not we're not we're not going on -- but we're hardly or hardly picking up any speed I think we're trying to I think that's the way it's gonna be.

All the like Election Day unless Europe -- cap sizes -- is not out of the question.

But.

You know I think it's just it's you know we we the motors turn -- but not very fat.

What do you what one that would precipitated.

There are collapsing and -- commander in some detail -- Well I think your hand -- -- -- unless they the European Union can sort of basically prop up Spain.

You know in the interim in Italy.

You know then.

At which they're trying to do but there's it's so difficult over there to get in at seventeen countries that we do agree on anything.

If if they can do that Europe Europe stays -- there are some sort of apocalyptic view that there that things are worse than.

Than they appear.

But you know I think if the European Central Bank.

You know will will buy up sovereign debt and keep these countries afloat then -- muddle through this.

But.

You know and and that will you know I think our economy actually considering what we're doing within Europe is.

Is doing remarkably well I think a lot of people thought this could drag -- into another recession which it has not done yet.

Mr.

Lima solar are talking -- -- him as some from the -- -- -- I say you should one or two -- You know I don't understand and I've had try to -- to people Erica Fox.

Business Network what -- -- and Connell short -- forks explained to me and I there's cartridge wanted to may but I have ADD and so.

Honest politics class companies economic questions and and the start to explain -- -- and I've got to thinking about something else and slow.

But -- record for commercial -- better -- and here's what I don't understand.

The stock market is is -- with the economy still global.

Stocks why.

The stock market is up because there's no place else in the world to put your money really that's the problem I mean if you take -- you got money -- -- gonna put it.

And you're not gonna put it real estate that's not really going anywhere William might start -- look at that starting the beginning to turn around.

But you know bonds are you know bring in any money -- that means so so as an America at the moment looks looks like.

The most stable economy that's why there's money in the US in the US market.

It's not necessarily a little reflection of how strong we are strong relative to Europe for example -- Europe's looking like a total message you're -- -- invest in Europe right now so that's why money is coming into the US market in the US market looks healthy.

-- -- of companies.

Are -- investing in just a traditional.

Blue chip deals -- what.

You know pretty much I mean you know you obviously that you've got money and apple you're very happy person you know.

GM and apple is he is is doing a lot better than most.

You know American companies obviously but.

But.

Element -- -- the American economy and when you look at what the numbers of Ford and GM posted.

And Chrysler posted this week and they're actually doing you know pretty well here very well here in some cases it's it's the European market -- now starting to drag them down.

And that's what's scaring people is that is that particularly -- -- national company that have a lot of business overseas if Europe does Hank.

-- that could start to drag them down again.

Let's go lower June brotherhood -- -- and other.

Now I think you know I think -- GM's US businesses is is okay.

You know there are also suffering overseas -- really taken a hit overseas.

Which is you know this is kind of an about face in the weird way because only a few years ago it was you know China and Europe that would that we're doing well for these companies.

And an America that was really in trouble and now it's -- -- the other way around.

Seven -- delay our talking with total.

Anthony -- -- doesn't go to -- -- allow -- talking and I mean I've been listening encourage them.

-- rolling back in your head it -- the -- is on land it but I understand.

Oh well I I just I don't know I just having.

-- -- why would you rewards of Peter Frampton -- what was.

You notice that Peter Frampton that it -- the great parts per call Peter is.

Is one of the funniest guy that ever met -- one of the nicest guys the most humble guy that ever met eagle eagle -- -- -- to guitar player but.

You know -- that he had that great moment in the late seventies when Frampton comes alive like sold you know I think -- -- like it's like up eighteen million copies.

But but it right.

-- just after he's sort of peaked he lost his guitar if he had it it was thought to have.

Burned up in out when it when -- cargo plane carrying all of the bands here.

Crashed in South America they were on tore down there and -- and they let -- year old travel separately which they never did except this one time.

The plane went down the crew was killed their photographs of just debris all over the runway and his guitar.

You know with the big party played on -- comes alive and and virtually everything else he'd done up to that point you know was gone.

Well.

Last year he got an email out of nowhere.

From somebody in sure if Powell saying.

-- photograph saying I believe I know where your guitarist.

And this started an email exchange and all sorts of middle -- getting involved in about nine months to a year later.

Sure enough -- burn marks.

But in various spots on it.

Peter Frampton got his -- back.

You know what is it we're talking thirty plus years later.

It's an amazing story and you know I mean you know musicians they did.

You know you look at look at Springsteen he played the same beaten up -- -- You know they in almost every concert and I -- the move them that the instruments become part of them and and it was an extraordinarily emotional experience repeatedly get this thing back.

After all these years it was it was if great story.

Juror asked demoralized by another good charming -- what about -- -- -- I mean you know he had -- -- that you have been there all you guys have.

I mean only guys have dozens if not hundreds of guitars and mean I was in -- -- studio and I mean there were 400 guitars all around the world -- -- know all -- the walls.

And he didn't mean -- and you -- all you -- is one.

Mom and most of them have one that's their real.

Ripped open on Sunday.

What does a two extra cash -- fox studios.

Not far from where you guys are all met -- is well hello -- Well whatever they had almost drenched -- sister -- the battle depression them.

It -- amazing.

I mean it would just showed you you know that can hit anybody.

You know I was.

-- a committee -- Don lemon.

Butter and realize our great he was.

Until all all else just recently it's gotten through -- three years ago.

I didn't realize just.

Absent the will just aborted just flat out genius and -- great news because -- was on so much stuff turn them.

-- reduce.

I don't know but he really has fuss is one -- your favorite song or album.

Well he's he's you know -- there -- looked -- -- the hardcourt Springsteen fans are in pain and I wouldn't put myself in that category but but I have.

Enormous respect for him and is -- -- -- -- concert Serb.

You know among the best out there if not -- -- -- -- -- -- -- -- -- -- -- -- -- -- Just so many great story than any everybody's been talking about the gym equipment and the swimmers but I love this story of Kayla Harrison who won the first metal.

-- -- -- -- -- -- -- it had been who'd been actually been molested by her Coach when she was thirteen.

And you would have -- that would ruin her life but too little together got a new Coach and won a gold yesterday as to -- what a story.

Although I've subscribed to you know the sports writer lawyers not to minus -- federal -- data report down -- Buzzed Brisinger up -- here on Libor and so buzz is a select output thoughts about a -- -- Best equipment but did wrote that delivers -- lot better we have -- literally a human rooted instrument divorced and ideological political.

Disparity between us -- them amounts just a bunch of people Baltic Countries and eyes on -- -- -- -- -- -- whenever -- I think it would get done I think if you grew up in the Cold -- -- like guys if there's still an element of the when the Russians come up you still you still don't you still get that gives us.

Up against them thing absolutely.

They'll do you know -- -- when the when they were -- -- limit you know it that would I would -- what you know the primetime version for -- for it.

All of its contrived drama but when the Russian we're coming up last night it.

You know pin you know 1045 or whatever it was I would still I would nineteen you know at 1969 again for me.

There are good night after the lost -- -- thereafter I mean.

And every Douglas sixteen year old kid winds are all around she stuck controller Russian public mommy -- --

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