Also in this playlist...
This transcript is automatically generated
Randy forces with a -- editor in chief of bears outcome.
I'm glad you're here we talk about your piece today but what's your -- you know yesterday we had that big moves including unknown volume.
Yet it is a commitment out there a diet as you say the only thing that's moving the markets -- money.
Just the volume of money that's being printed around the world in my opinion.
That's what's driving markets and that real fundamental waiting for we will be to have earning season starting a few weeks I think people wanting to see.
What happens after the fourth quarter.
Fourth quarter was pretty good.
There -- a lot of expectations.
First quarter may be men is that term ideas.
-- -- Because.
You know our little our legal tax credits -- bond like well I kind of separate we didn't have a whopping holiday season by any stretch.
And here's the thing he had a good higher.
-- the hiring is seems to be a lot of catch -- that's wood Ben Bernanke saw in -- yesterday.
Kind of -- catch up in hiring because they they squeezed -- is hard as they could actually had to -- colliding in a little bit more help.
Tape to get -- all the orders.
Now you don't leave it did that catch up is over.
So what sort of -- wading pool within naics kind of thing to happen to you by the seasonal factor that the weather holds a lot collapse and -- -- quarter absolutely because housing -- He seasonally just of these -- hat.
Housing never happens when these so we never went to this -- so -- -- seasonal adjustments.
Sort of offset that so now we're going to have male who knows they would -- -- -- this its holdings.
Does just just just just by -- found that the good man is called -- very -- I -- I hate and it was it's he's good last week we had eighty degrees and ruling.
Let's talk about what happened yesterday with your uncle Ben Bernanke he alludes to the fact cities.
Job -- not right not -- the way it's supposed to working less hours now -- we did pre crisis he says that he's keeping his low interest rate environment and well the market presumed.
Key rate on -- print more money -- -- -- he's going to keep.
Easy keep his foot on the accelerant that was the assumption that was -- -- -- -- up kind of early rise if there's but markets before that.
Little -- police the interest rate futures market were saying maybe we'll take its -- gets along with soon.
But now after yesterday they said -- -- keep his foot on the gas.
But guess what.
Long term bond yields moved up even though he says he's gonna keep short term rates down.
Gold which was going that was acting very poorly had a nice pop up if seeing what you're what you're talking about the supermarket before.
Prices are going up printing money is it may not create new jobs but it'll create higher prices that's a problem.
So what happens we got a bond market that basically does not agree or London.
Is now buying the notion that he's that he can do anything anymore in yeah.
It's the first time -- -- this sort of put in -- pushing back he's had some of the Biden vigilantes who yes.
-- used to get very upset about inflation.
Now they they see that while this not to be any inflation because why isn't going to be of all because the Fed told us -- fact yep but you see better right -- Did -- the reality started come -- that's a big switch so easily.
It seems like Bernanke's on this PR campaign again to is to sell his policies which are getting.
They're not getting as much love as they used to -- -- I'm -- at this point it's.
He personally can't figure it out and second of all it's almost like it's just -- -- -- -- and how the whole thing is.
Interest rates are creeping up as he said mortgage rates right last week.
He started creep up weak housing wasn't doing anything -- mortgage rates were below for -- and -- -- creeping up that's not gonna help.
But easiest solution is okay not enough jobs.
Will -- -- but he isn't -- he he brought out.
Even though there is unemployment.
There's -- high level of job vacancies.
What's that about we can't if some guy whose -- the slapping up drywall a few years ago during the housing boom.
Isn't all of a sudden going to be in the health care industry is a mismatch right.
Can't fix that would printing money -- the printing money -- the wages of the people who more qualified oh god bless and that they have a job anyway.
Everybody deserves a raise I'd say.
But it's not going to get the guys.
Who put putting up drywall a new job.
Right or middleman for the middle level I was summoned some the other day that middle finance -- -- It's been that -- levels being removed exactly -- in finance at that level there are no jobs -- anymore.
Lose it if if if you're not making mortgage loans know it -- many loan officers training is made -- people go out -- making crazy.
You know what it's interesting point though because then what we're saying is in order to get this job market going again -- A lot of people need to be retrained absolutely so what does that mean they go back to school -- -- and if there's a list that we had all quite of people doing everything having do with the wouldn't real estate was going crazy coming mortgage brokers seen real estate agency.
Over the world -- they really had to to the economy.
Whereas we need a lot more nurses and and also other people health care professional right.
I think you'll get hair right senior around things like that.
So you really what you need are you -- Wohlers and you didn't -- finance guys to go figure I had been nurse exactly.
Exactly what you're not gonna happen overnight -- printing money isn't gonna do that.
That's the whole thing so that I read and that's a good grant them into the -- where are we where -- this market got this morning keeps flying on there.
Yet -- we -- -- like 30% since last October.
Open held by the way we can fix everything in Europe right right I guess on how our son that's -- fixed and satisfying.
That's did I did there that's slowing down or anything which has an effect no one else not a brand and I think that's the next Theresa who got that they're they're beginning to have some problems the Japanese stock market went up because wife -- what -- -- more money to make the end cheaper than the and so forth when.
When all you know hit that river will -- I don't know.
-- you got a debt crisis our -- you keep printing money keep devaluing our dollar move.
Well here's the thing -- and this is getting like the learning ground my name is we were at this point in 2011.
What happened days starting in May and the summer.
Down the -- And we thank you -- the big that in the lastly I remember it was my birthday weekend I was first began August looting went tumbling down exactly and that.
What what's the last thing the White House wants to see.
Well it right right -- that -- that around Labor Day right.
Exactly so it and do what what does Ben Bernanke not one.
Look let's -- -- crisis derail.
2000 they'd been there done that I does -- do that again.
So let's keep everything kind of moving along and by the way by the end of the year we're having a huge tax increase and nobody is talking about that.
Of course and they want to read -- 3% of GDP that's gonna be just.
-- they want to talk about that until like three days before the deadline you know that the markets will of course.
Hundreds -- -- as of the time goes on member of the whole debt ceiling -- last year and be the same thing.
And markets do have memories -- they have their assets -- a long memories but it's going to be.
And that means and I know I have to let you go brandy but then that's see several over again that means that we will see it down market the next couple months -- remember -- me go away and might be able to do that again.
Third year and thorough you better not go -- hits keep coming back when he for a site editor in chief parents dot com read -- com today thank you thank you.
Filter by section