Austerity, trophy wives and debt, all on NetNetTV

Europe is back, either because of or in spite of austerity, depending on your perspective.

No one is winning the war in Washington.

And it was a tough day to be a trophy wife.

Such are the headlines on a big-news Wednesday, in which investors had to ponder foreign markets, debt ceilings and a host of other items.

As usual here in the NetNet cube, John Carney and I slug it out over the issues.

- By CNBC's Jeff Cox. Follow him @JeffCoxCNBCcom on Twitter.