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The thing -- -- Let's -- -- the markets first thing because today first opportunity for the markets to react to that -- on calling it bad numbers that we got in the employment report on Friday.
As bringing in market -- Keith FitzGerald with money map press our case.
The Friday jobs report that -- -- tells does in my opinion that the recovery is stole how do you see it.
I agree with that I think the ministry of white wash is out of control here it's all about political spin -- that is starting today.
Okay now it has this really change the direction of the debate because.
I think that up until last Friday.
We could assume that we got a modest reasonable recovery in place to 3% growth.
After Friday I'm suggested that is not the case and it's this could be.
The third time in three years that hope of a recovery in the spring is dashed with the numbers that come out in March April and night.
Is it as bad as I'm making it out today.
Well I think it all hinges on -- use of the word reasonable because that's what the White House Spin Doctors are gonna look to.
Is it reasonable to miss by 85000 jobs I don't know I think it's unreasonable to have a 16364000.
People give up looking for work.
That's the impact that concerns me.
And is -- market gonna roll over I don't know insight technicals are not that they're not that healthy right now Europe's closed so we don't have the full effect this for another 48 -- You know Gretchen Carlson is with me and she brings an interesting perspectives is a non financial opening mail call -- a non financial person please that's accomplish your -- of -- It is gorgeous though most people will what that won't delve into the nitty gritty of that -- jobs report thus see the unemployment rate going down.
And assume that that is a good thing that the employment picture is all well and good.
But yeah I think you agree that there's -- divorcing him between the overall perspective the general public's perspective.
And the market's perspective right.
I agree and I think that the White House is gonna do everything it -- to keep that focus on that eight point 3% in the direction because if they can prevent people from actually looking at the numbers.
They stand a chance -- defending their policies coming into an election year that's what I think this is.
All about right will look at -- 120 point decline for the Dow the opening bell this morning to think it loses some mall for the rest of the week -- you think the stock market starts to go down after terrific start of the year.
Boy you know I still believe we're gonna pull this out by the end of the year is an election year they're gonna put a lot of stuff into the market traders are looking for QE3 that's what they want to -- stalling things.
I'm still gonna go out on a limb here say we're gonna have upside but that's not gonna improve the economy frankly hard to keep.
You're the guy who knows how to crunch the numbers.
Help me understand all this if this jobs report is not good as far as created jobs then next month should we expect to -- unemployment rate go back up that.
Well it's too early to tell but what you can look for is that the companies coming into early seasons have been backpedaling on their estimate they're lowering expectations.
We know that that's about a one to two quarter leads cycle is to when they want to quote beat expectations and improve things my guess is they're deliberately backpedaling.
They're gonna make productivity gains.
Two quarters from now they're gonna come in and say look everything's great we beat estimates in the market talk to the races are we still -- major corporations still making a ton of money overseas.
You know that's slowing down a little bit margins are under pressure but it's not the -- that everybody thinks it is and growth I think it's still better there than it is here you know you sounding I'm trying to read between the lines -- yankees and -- sounding a little bit on the negative side because.
Overseas profits not all that ballyhooed it to be Europe's in recession.
China slowing down a little bits -- you know sound like you're gung -- positive here.
Well let's look at this way you know there's there's always a bull market somewhere the question is do you wanna be cavalier with your money and pile all the energy wanna be intelligent as you know I -- vastly prefer the intelligence becoming a little harder.
When I guess sort of trying to -- little harder to pick the profitable companies right now.
-- you just got to do your homework.
-- perfect yet that's -- duty.
All right Keith FitzGerald thank you very much for joining as we do appreciate it thank you we stood you off of late about this on our FaceBook page a lot of comments already.
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