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Gygi Capital Management’s Gary Gygi on why the Administration’s policies have been hurting job growth, not helping.
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Well maybe jobs are coming back because the government got -- of the guy who's been following the numbers very closely says as soon as Uncle Sam.
Somebody in the real jobs surge started coming on to financial strategist -- digging Gary -- What did you discover that this is -- I was reading a little bit of your writing and they're just explained to -- Thanks they'll -- I've ever since and -- added -- QD QE2 ended last July or so seem as if that that did.
The private sector has been growing not a great leaps and bounds because we had still have a very weak economy.
And is gonna continue that way for a while until the rhetoric out of Washington and disk -- -- -- just continues but I've seen.
That this economy which has been plotting along the private sector has been doing better and better in spite of what the president and what is it administration have been saying.
So in other words around June or July when most of the quantitative easy referring to from the Federal Reserve's eased up to the point of virtually stopped.
Com yes that's freed up capital I -- and and then.
Well and I think corporations which are flush with cash.
They've been hesitant about hiring and celibate so even though the economy has been slowly moving along corporation still haven't been hiring.
Except for the last couple of the couple a months.
And so my feeling is there's always a reason for that and so the rhetoric out of Washington hasn't changed.
So my feeling is some of these.
Business managers are perhaps dealing the president as a one timer and trying to get in front of that by getting their labor force stronger as if the economy is gonna improve.
-- -- -- -- -- -- -- I'm you know that one thing that I thought about it you're right.
Then I'm hearing the administration make the -- today.
We really get more spending going we need to dispute on top of this an -- -- -- with a much added we're saying.
You know we got this because stimulus we've got this because the government did what it did so we need more -- -- use say that will do what.
I'm not I'm not I'm not in it in that camp at all -- I think that there's that this stimulus was it was a failure.
And so as government has gotten larger the private sector has gotten smaller and the only way that's -- reverse and then economy's gonna get stronger.
Is -- government gets smaller private sector gets bigger and that's gonna help the economy in.
In all areas.
-- but nevertheless we are seeing this rate go down on the steady.
Number job yes Greece -- we should I think you've you've mentioned that you know.
We should be allowed stranded this stage of the so called recovery but it is what it is just the improvement is there -- will it last what are your thoughts.
I did I I think that the economy is growing in spite of what the president and his administration has been doing so I can expect.
That jobs will continue to be created maybe not at rest robust numbers but the -- but most of the economic data -- lately has been pretty good.
And so that tells me that the economy is growing and it will continue to do so unless Europe starts to fall fall apart and we get sucked into that.
But you know and.
But we do not so that the debate these numbers look people read about it here about it watch Fox Business think they say well you -- what is reenter the workforce.
And he could skew the unemployment number.
Back up again right so we -- passenger operations in -- Absolutely talking about the participation rate right and so if so if if if people start participating in the survey more and more you are gonna see that that unemployment rate start to go back up again that's absolutely true.
Our Gary thank you very much for coming up against -- back to get a -- --
