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But -- of another business person that's for sure right now we're -- -- to Philadelphia Larry Barton is with us right now now he is -- -- But it's in finance if I'm not mistaken is that accurate.
It's public policy -- -- -- its current right president CEO of the American -- -- loved dog and you.
You know thanks for the uncertainty in Europe is just if like.
I don't know where -- weren't -- we're just waiting for the next bomb to follow on this thing.
Italian bonds and 7% and yet the market's up 42% -- up 42 points here in the states.
If you listen to what to make of it anymore.
-- right I think you know right now it's periscope.
My suggestion is the next week there's going to be a lot of heartburn look at the past month we've lost an Italian prime minister we've seen the Greek Prime Minister gone.
Jon Corzine is gone and you would get people all different positions of authority just kind of falling by the wayside for different reasons sometimes public sometimes because of private.
Misgivings and then mistakes people have made.
The big issue I think Tracy that all of us have to think about is that we can now.
Our cardiac units may be filled if we don't have a super committee that has an agreement one week from now if they are not able to come up with one point three trillion dollars in savings.
How we're gonna have a meltdown in the markets a lack of confidence and we may have the US credit downgrade so you're actually right not only is Europe continuing to be in disarray but right here at home.
We're about to have another bubble in about one week.
It it's actually and maybe that's why do you feel like it's the calm before the storm because you're right the confluence of events that are gonna happen right around Thanksgiving.
Could just looking -- blood through the roof.
Consumer committee has kind of alluded to the fact that they can get it together though so what happens then if they punts.
We we probably get downgraded.
While we may get done credit either way because what you just repeat past guest is spot on.
I hope he means what he says and I hope the job that he wants created are not just public sector jobs build bridges -- -- -- in the private sector.
We need to get job training in this country if you want to hear what we'll get this economy back.
We'd have dropped trainee in the private sector we need -- help small businesses I wanna hear this president talk about how we believe an entrepreneur isn't.
I want to start talking about R&D and science in this country I want to talk about financial services how we need small banks and insurance companies to succeed.
That's what we need is a strong private sector not strong public sector we already have that we know that there's all kinds of public works projects under way.
So what will help next week a super committee deal.
A bipartisan approach towards solving the problems of social security and Medicare.
Let's get it moving we have great talent in this country what are we waiting for what we need is a leader who's gonna speak up for the people in this country and that is not necessarily the members and.
Congress -- and I can't see and are not seeing any kind of leadership imagine what it would do go to the confidence of the United States.
If we did see some bipartisan agreement come out of the super committee and unfortunately.
It's not sounding very good.
Great kids no it's it's not -- -- point though you know.
I know we need to we only now what we need to see right we would love to see banks lending we would love to see the housing market turn itself around unfortunately the other side of that story is.
The rules and regulations coming out of Washington are preventing these banks from offering any kind of loans.
Especially now we know there -- being stress test again god forbid they come up short on cash they can't loan money.
You you -- something very important here which is we are right now waiting for the next -- story -- -- -- -- -- down you know Warren Buffett -- an IBM and -- Warren -- -- in to be -- -- -- installation.
But -- it's gonna take this for Warren -- to -- sell a stake in a particular company and we're gonna find that -- also panic.
That is not good to your point we need strong employment we need to have bipartisan support.
And we need to have confidence in -- president right now there is not confidence in this president's ability.
And I think the biggest mistake that our government -- last couple of years was the Fed.
That said they're gonna freeze interest rates for two years what that did is to say to every bank in this country -- guess what.
-- -- can be -- loan very much money because -- hedge their marching right now is extremely thin from what they can borrow from the Fed.
And what they -- to borrowers who as a result our banks are hurting insurance companies are squeezed.
And unfortunately that decision by eternity and by the Fed has put this country in a very very tenuous position now we can get out of it but the super committee holds the key right now.
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