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Encima Global President David Malpass on the outlook for the economy and job the impact of uncertainty over taxes.
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Well joining me now David -- policies the president founder -- -- the global also former Reagan advisor and it is great to have you here hi Lou good beyond -- is this beginning of something new we are starting to see sustained job creation at whatever level.
But if you want to argue the numbers we're starting to see a market that is taking hold even in terribly like trade.
Up yes it was light and remember the last weekend into their first part of this week the market was down so some of this that we've seen the last two days is reversing.
The decline.
I think in order for it to go higher meeting continue the bull market.
You've got to see more growth in the US and some resolution of the European situation.
And David Friday.
I'm gonna go back one step -- then we're also gonna remember that one point 85 trillion dollars in market cap was added to this market the first quarter as well.
We've seen this thing received about 4%.
-- an image you talk about the strength -- -- of economies in the world.
What's pretty darn go the Europeans war.
Horrible.
China is China and you know 7%.
Would be a disappointment in China we'll find out tomorrow.
That's right so -- What we have a wonderful country and the world's biggest economy people forget that the biggest.
Exporter of people forget that as well.
Remember when they try to make us feel small they're talking about just manufacturing exports where we don't have believe.
But when you -- in services it's.
-- powerful US economy and financial markets system.
So.
The big question though is why isn't it creating more jobs that's been lame weak this is a weak recovery.
And I think it has to do with the tax uncertainty going forward you know our year end.
They're scheduled Washington is scheduling a giant tax increase so that -- small businesses from hiring as much as they should be doing right now.
Cautionary.
Are you bullish on what remains of the year yet you know I'm near term cautious right now because Europe's got some real problems I think as we go into the second half of the year.
The Washington is trying to pump things up.
They're allowing more our credit -- that they've got a big incentive to make this thing go and so I think we'll probably get some gains in the second half our they've evolved past received.
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