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That's a pretty sharp pullback we've dropped below 111000.
At the -- -- from trapped -- investments live with us from Dallas this morning you -- what's going on that and he's not got a big new bold plan that is gonna put into action right now the markets selling off and you say.
I'm not surprised I mean I did not think that we're gonna see a basically any kind of bold plan today.
It's really sad and waste or to think that we're sitting here waiting in and what the Fed Chairman is gonna announce that it's kind of -- printing.
What ever happened to the free market.
I mean this is crazy that -- in this condition and we have sit around wait for some announcement you know the possibility of a pretty and see it artificially stimulating the economy.
That's very interesting want to out McGovern up parry I mean you're a -- and Texas right now I believe you have read -- against Texas frequently if you -- -- lives that -- -- I think you do.
He said it will be treasonous.
It Ben goes out to reference up a ton of money.
Do you think that that's kind of intimidated the Fed -- all that the left is gonna say hey the Fed's intimidated by governor Perry.
I think a lot of circumstances may -- have some influence there but Bernanke.
Don't think for a second that the pretty not gonna come at some point I mean it's in his DNA.
Do I think -- intimidated him maybe I also think maybe being -- Jackson Hole -- -- all these economists but all of this information going back and forth He wasn't prepared to make that announcement.
But Stuart it's going to come because you look at the GDP revision downward this economy is anemic.
And the only way Bernanke knows how to get it back and He says I'm not gonna you'll repeat the problems there you during the Great Depression is that we're gonna see it against.
Right that at thank you very much -- on the floor you got something -- down 201 as we go forward.
Yeah but the traders were talking over here one of -- just printed -- their -- reading through the statement from Ben Bernanke something out that severely catching their direct now.
As we did mention earlier how Bernanke said in that statement that He will use these tools as appropriate that's one thing.
But He also went on to say that that and it is a extending its September FOMC meeting -- two days.
-- you -- to allow an extra day to quote I'll allow further discussion.
The interpretation there there's going to be some talk about what they're gonna do -- so why we didn't get any big change in policy today.
They're gonna have an extra day at they're up on C meeting in September to discuss what they're doing that -- the outcry at the.
Murkowski you that ten -- -- is of governors and Ben Bernanke himself to look at tools that's what you're talking about is a that's exactly what I'm talking about it's going to be coming it's not coming today but it will be coming -- the long term impact this Charleston earlier this going to be a lot more devastating to the economy than the hurricane that hit the East Coast right now you don't think it -- where we got ourselves to be -- and do manage the -- the rich -- only the -- that want him to -- some money because -- find -- -- to the stock market and that investment will go up you -- and that's a good idea that.
Not at all that the temporary band aid we in -- in the end result is going to be a devastating inflationary period want that money gets into the economy.
People just need to understand what this printing of money means to their wallets short run stocks Michael higher long run.
Devastating economy now is he's I'm reducing -- poll to printing money.
Okay I'm at any is that accurate I mean eighty may come out of the buying treasuries sold buying something else.
If you all just printing money -- embattled -- the new tool its printing money is it is it really that simple.
It truly is that simple they'd literally just turn on the printing press they print money out more money -- into the economy and what that means there's more money to EC that's the number of items the price of those items go a lot higher.
And that's what's going to happen and it's not something that can be fixed.
In the long run very easily so we're probably looking at 510 years of rapid rising prices once this money gets into the economy wants the banks start lending it aren't going to be devastating.
-- Those He -- hoods -- -- is going to be devastated at Battelle asked everyone I didn't -- -- to -- we.
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