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-- up 65 point so let's get back to the market action of the day joining us now from Chicago we -- -- he's with yeah Astro Oregon.
You know I wanna ask you about a downgrade.
We had done -- -- -- on the show he says looks a downgrade the way we're going another downgrade for America's debt is virtually inevitable.
How we will have a sixteen trillion dollar national debt by the time Election Day rolls around so what do you say is is that not a downgrade coming.
Well the transparency of the Fed is not one thing but the transparency these rating agencies is absolutely -- existence and I I don't always know at a time.
What other rationale criteria -- making these downgrades.
I've actually been a little bit suspect on some of them especially their way that they downgrade the United States before some of the countries in Europe -- -- really -- somewhere what is homicide -- do you think it's politicized.
All very much so Stuart arm.
You know one of the big rating agencies.
Is S&P obviously are now owned by McGraw -- publishing and reviled publishing had a turn it was having a real tough time.
And they wanted to increase there problem deal that they are rating in Europe they want to increase the amount of you know different offerings that they were actually making their ratings on and it's ironic that they've held up Europe's and rating that held up France's -- make -- -- high while they downgrade the United States.
-- over the summer and is very politicized I think that all of these ratings companies are trying very hard to secure fees.
And -- entire industry has to be really really regarded as somewhat suspect at this point going forward yeah the United States will have to raise its debt ceiling it's inevitable.
-- the biggest mistake we can make right now remember are fed is doing everything they can.
To spur on our economy they're taking on debt they're spending their money were trying to -- money into consumers' hands.
The time he blondes Don putting everything we can't to grow our way out of this problem from the monetary side.
So let's hope that our politicians.
Get Diana heads out of the sand and realize they're not supposed to be talking about austerity measures.
Into gold concert of the -- They're supposed to do what they can to assist and help the -- -- this.
Average to grow outside of this problem but we'll see what tonnes up -- -- thanks for joining us today appreciate it thank you so.
Surprises us -- we.
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