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Lou Dobbs Calls Economic Turnaround

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  • Description

    FBN’s Lou Dobbs breaks down how he was able to call the economic rebound.

  • Duration 2:04
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Year's presidential election.

So first just how weak -- how strong is this economy really.

There's new evidence tonight of strong improvement in the labor market and the prospect of continued economic growth.

I call the turning point in these markets and the economy right here on this broadcast more than two months ago.

On October 27 saying quote it's a turning point in the economy a turning point for these markets separate reports today show private sector job growth on an upswing a big drop in weekly unemployment claims.

And planned layoffs hitting the lowest level in six months.

The ADP report showed private sector jobs surging by more than 300000.

Last month.

Weekly jobless claims last week fell by 151000.

Continuing a trend of slow but consistent.

Progress.

More good news for an economy and markets.

That hit a turning point a little over two months ago.

As I said right here and the next day -- I told Bill O'Reilly all the factor.

I'm going to declare my own -- here I believe that this is a turning point -- believe it's a turning point in the economy.

I believe it's a turning point for these markets.

And we can mark the date October 20 -- -- seventh.

I think anyone who's not encouraged here.

Is missing the point we we saw it it so much focus is you know -- on Europe.

The debt contagion there and it's and it's appropriate to be concerned but not to the degree that.

I guess the best way to put this -- imagine what we would be doing with the Greek debt default.

And Sarkozy and Angela Merkel.

How important there'd be in our lives if we had a 6% unemployment rate.

If we have a four and a half percent growth rate I think most of us would be dismissing that news I think you've got to look at it that way.

We are seeing a foundation being built right now all right so you are encouraged.

That this is -- some -- -- nation that did you know you're encouraged that something good.

Is is currently OK and Allen and positive we are seeing good things began.

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